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Leading Japanese online payment processing company enabling e-commerce and in-store merchants to accept card and digital payments.
Leading Japanese online payment processing company enabling e-commerce and in-store merchants to accept card and digital payments.
Charges merchants a set-up fee, a monthly fee and a small cut of every card payment processed, so revenue grows with merchant numbers and total payment volume, which is why it benefits as shopping moves online. GMO Internet Group, the internet conglomerate, is its parent group.
In one line: Japan's Stripe/Adyen for online payment processing.
Moat: narrow (scale, switching costs, network effects). Large merchant network and integration switching costs support leading share in Japan.
Headquarters: Tokyo, Japan · Founded: 1995 · Employees: 882
Size GMO Payment Gateway (3769.T) is a Japan Financials company (Finance/Rental/Leasing) with a market value of $3.98B, the 287th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥8,266 on 6 Nov 2026.
Performance Over six months the shares gained 6.2%, against -12.5% for the median peer and +1.8% for the Japan market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 13.2% over the last twelve months (peer median +8.9%); the operating margin is 40.1% (peer median 29.9%).
Valuation It trades at 5.02× book value against a peer median of 1.39× (most expensive of 20).
Price implies The share price implies a return on equity of about 32.4%; GMO Payment Gateway delivers 21.5%, so the price asks more than the business earns today.
Next results Next results expected around 13 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥91.2B | ¥82.5B | ¥73.8B | ¥63.1B | ¥50.3B |
| Revenue growth | — | +12% | +17% | +25% | — |
| Gross profit | ¥60.2B | ¥54.3B | ¥46.9B | ¥40.0B | ¥32.7B |
| EBITDA | ¥40.8B | ¥35.0B | ¥28.2B | ¥22.5B | ¥18.8B |
| Net income | ¥25.2B | ¥21.8B | ¥18.7B | ¥13.5B | ¥24.2B |
| Free cash flow | ¥34.2B | ¥54.2B | ¥49.6B | ¥5.97B | ¥9.65B |
| Capital expenditure | ¥4.06B | ¥3.65B | ¥4.45B | ¥4.63B | ¥2.97B |
| Total debt | ¥53.9B | ¥65.4B | ¥55.9B | ¥51.6B | ¥45.6B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| GMO Payment Gateway 3769.T | $3.98B | +6% | +13% | 22% | 5.02× | 32.4% |
| Adyen ADYEN.AS | $32.0B | 0% | +17% | 21% | 4.81× | 59.7% |
| PayPal PYPL | $49.2B | +31% | +5% | 24% | 2.54× | 24.8% |
| Digital Garage 4819.T | $654M | -10% | +4% | 2% | 1.40× | 5.3% |
| Rakuten 4755.T | $8.59B | -18% | +11% | -7% | 1.48× | 9.3% |
| Block XYZ | $51.7B | +14% | +7% | 2% | 2.26× | 36.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 3769.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.5% | +1.2% | 6th lowest of 21 |
| 6-month return | +6.2% | -12.5% | 3rd highest of 21 |
| Return on equity | 21.5% | 9.3% | 3rd highest of 20 |
| Price / book | 5.02× | 1.39× | most expensive of 20 |
| Trailing P/E | 25.2× | 11.8× | 2nd most expensive of 18 |
| ROE the price implies | 32.4% | 15.8% | 6th most demanding of 20 |
| ROE delivered | 21.5% | 13.8% | 3rd highest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| GMO Payment Gateway 3769.T | Japan | $3.98B | +6% | +13% | 22% | 5.02× | 32.4% | 21.5% |
| Bread Financial BFH | United States | $3.87B | +17% | +2% | 16% | 1.13× | 12.2% | 15.9% |
| Mahindra & Mahindra Financial Services M&MFIN.NS | India | $4.12B | -15% | +15% | 14% | 1.41× | 23.7% | 13.8% |
| Avis Budget CAR | United States | $4.20B | -18% | -1% | n/a | n/a | n/a | n/a |
| Enova International ENVA | United States | $4.22B | -1% | +20% | 27% | 2.72× | 26.6% | 26.8% |
| Sixt SIX2.DE | Germany | $3.67B | +4% | +7% | 15% | 1.67× | 15.8% | 15.0% |
| Blue Owl Technology Finance OTF | United States | $4.36B | -13% | +95% | 5% | 0.58× | 4.9% | 4.8% |
| Credit Saison 8253.T | Japan | $3.62B | -10% | +10% | 9% | 0.73× | 6.3% | 9.2% |
| ACOM 8572.T | Japan | $4.38B | -12% | +7% | 9% | 0.96× | 5.6% | 9.3% |
| Poonawalla Fincorp POONAWALLA.NS | India | $4.42B | +4% | +77% | 9% | 3.02× | 47.4% | 9.2% |
| Bohai Leasing 000415.SZ | China | $4.44B | +2% | -7% | 18% | 0.90× | 6.3% | 17.8% |
| Far East Horizon 3360.HK | Hong Kong | $3.44B | -25% | +1% | 8% | 0.45× | 4.5% | 7.6% |
| WillScot WSC | United States | $3.42B | -33% | -3% | -7% | 3.75× | 35.8% | -7.1% |
| PennyMac Financial Services PFSI | United States | $3.41B | -28% | +4% | 6% | 0.78× | 10.2% | 5.6% |
| Housing & Urban Development HUDCO.NS | India | $3.39B | -30% | +22% | 22% | 1.39× | 31.5% | 21.7% |
| Nelnet NNI | United States | $4.67B | +7% | -7% | 8% | 1.24× | 10.1% | 8.1% |
| HDB Financial Services HDBFS.NS | India | $4.71B | -24% | +11% | 14% | 2.01× | 30.2% | 14.3% |
| Indian Renewable Energy Development Agency IREDA.NS | India | $3.31B | -18% | +17% | 14% | 2.18× | 42.4% | 14.4% |
| Samsung Card 029780.KS | South Korea | $3.30B | -21% | +11% | 7% | 0.51× | 4.2% | n/a |
| Manappuram Finance MANAPPURAM.NS | India | $3.23B | +3% | +5% | 7% | 1.90× | 33.0% | n/a |
| Sundaram Finance SUNDARMFIN.NS | India | $4.95B | -11% | +14% | 14% | 2.89× | 35.3% | 14.4% |