SBI Holdings

SBHGF

Financial - Conglomerates · Financial Services

Price

$21.22

-0.16 (-0.75%)

Market Cap

$13.72B

Exchange

Other OTC

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Aug 30, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Exceptional

Cash Flow

Exceptional

Stability

Mixed

Valuation

Good

Dividends

Good

Track this stock — start free trial

Share count falling — buybacks

−98.5% over 4y

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

Diluted shares outstanding: 285.9M (2022) → 4.3M (2026)

Winston Score History

The full picture

SBI Holdings is a Japanese financial conglomerate that offers a wide range of money-related services. Its flagship business, SBI Securities, is one of the largest online brokerages in Japan, letting everyday investors buy and sell stocks, bonds, and funds. The company also runs banking, insurance, asset management, and venture capital operations, and has been an early mover in crypto-asset services in Japan.

SBI makes money through brokerage commissions, banking interest income, insurance premiums, and investment gains from its venture capital portfolio. It operates primarily in Japan but has expanded into South Korea, Southeast Asia, and other markets. Its scale in online brokerage and integrated financial ecosystem give it a cost advantage and strong customer retention. Key growth drivers include expanding its digital banking and crypto offerings, though regulatory changes in Japan's financial sector and volatility in its investment portfolio remain notable risks.

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

+13.9% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-39.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

¥0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

20.0%ownership

Insiders own a meaningful stake in the company

Cash Runway

~6 years

¥13.9T cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

¥13.9T cash & investments at current burn rate

Growth context

SBI Holdings is growing revenue at 14% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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

80.8%

Premium pricing power — 80.8% gross margin

Profit after running costs

Operating Margin

57.9%

Excellent — 57.9% operating margin

Return on the money invested

ROCE

9.9%

Below par — 9.9% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth

Sales YoY

+30.4%

Fast-growing sales (+30.4% YoY)

Profit growth

EPS YoY

+90.0%

Earnings growing fast (+90.0% 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

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash

Cash Conversion

247%

Turns 247% of profit into real cash

Spare cash per sale

FCF Margin

45.1%

Converts sales into free cash efficiently (45.1%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns

Debt / Equity

4.02

Heavy debt load (4.02)

Covers its interest

Interest Cover

5.01x

Adequate interest coverage (5.0x)

Interest coverage between 3 and 8. Profits cover interest several times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit

P/E Ratio (TTM)

4.5x

Attractive valuation — P/E 4.5

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

-5.2

SLOWING

Earnings expected to fall — forward P/E higher than today

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend

Dividend Yield

4.44%

Healthy income — 4.44% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

-13.2%

Dividend cut (-13.2% YoY) — warning sign

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial