Stock

Daiwa Securities Group

DSEEY

Financial - Capital Markets · Financial Services

Price

$12.11

+0.06 (+0.50%)

Market Cap

$16.82B

Exchange

Other OTC

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Sep 7, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality

Good

Growth

Exceptional

Cash Flow

Weak

Stability

Good

Valuation

Good

Dividends

Strong

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Share count falling — buybacks

−6.7% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 1.51B (2022) → 1.41B (2026)

§Winston Score History

The full picture

Daiwa Securities Group is one of Japan's largest investment banks and brokerage firms. It helps individuals and companies buy and sell stocks and bonds, manage their money, and raise capital through public offerings and debt issuances. It is the second-largest securities firm in Japan, behind Nomura.

Daiwa makes money through brokerage commissions, trading profits, asset management fees, and underwriting fees from helping companies issue new securities. It operates primarily in Japan but also has offices across Asia, Europe, and the Americas. Its strong domestic brand and deep relationships with Japanese corporations give it a durable competitive position. A key growth opportunity is Japan's push to shift household savings from cash deposits into investments, though the business remains sensitive to stock market conditions and interest rate changes.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

>+1,000% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+89.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

¥0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

1.5%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

¥31.9T cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Daiwa Securities Group grew revenue 19352% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

59.5%

Premium pricing power — 59.5% gross margin

Profit after running costs

Operating Margin

18.1%

Healthy — 18.1% operating margin

Return on the money invested

ROCE

3.2%

Weak — 3.2% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+270.7%

Fast-growing sales (+270.7% YoY)

Profit growth

EPS YoY

+29.5%

Earnings growing fast (+29.5% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

Weak — only 0% of profit becomes cash

Spare cash per sale

FCF Margin

0.0%

Thin free cash flow (0.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

3.50

Heavy debt load (3.50)

Covers its interest

Interest Cover

46.29x

Comfortably covers interest (46.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

12.9x

Attractive valuation — P/E 12.9

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+0.5

GROWING

Earnings roughly flat

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Dividends

Dividend

Dividend Yield

3.12%

Moderate income — 3.12% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+54.2%

Dividend growing fast (54.2% YoY)

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