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One of Japan's three megabanks, offering retail, corporate banking, trust and securities (Mizuho Securities) services.
One of Japan's three megabanks, offering retail, corporate banking, trust and securities (Mizuho Securities) services.
Earns mostly from the lending spread, mainly to large Japanese corporates, with securities and trust fees alongside. Formed in 2000 from the merger of three banks, it has been buying overseas advisory firms, including Greenhill in the US in 2023, to build investment banking.
In one line: Japan's Citigroup.
Moat: narrow (scale, brand, regulatory licence). One of Japan's three megabanks with entrenched large-corporate lending and underwriting relationships.
Headquarters: Tokyo, Japan · Founded: 2003 · Employees: 52,427
Size Mizuho Financial (8411.T) is a Japan Financials company (Major Banks) with a market value of $110B, the 12th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥7,199 on 6 Nov 2026.
Performance Over six months the shares gained 7.1%, against +9.6% for the median peer and +1.8% for the Japan market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 5.9% over the last twelve months (peer median +2.3%); the operating margin is 36.6% (peer median 38.3%).
Valuation It trades at 1.52× book value against a peer median of 1.77× (6th cheapest of 21).
Price implies The share price implies a return on equity of about 11.5%; Mizuho Financial delivers 12.5%, so the price asks less than the business earns today.
Credit Mizuho Financial has 36 bonds outstanding ($28.7B), rated A by the agencies and trading like A+ at a weighted spread of 89 bp.
Next results Next results expected around 13 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥8.83T | ¥8.90T | ¥8.78T | ¥8.04T | ¥5.04T |
| Revenue growth | — | +1% | +9% | +60% | — |
| Net income | ¥1.38T | ¥1.25T | ¥885B | ¥679B | ¥556B |
| Free cash flow | n/a | ¥7.13T | ¥1.53T | ¥326B | ¥3.26T |
| Capital expenditure | n/a | ¥319B | ¥345B | ¥257B | ¥183B |
| Total debt | ¥68.0T | ¥66.7T | ¥63.6T | ¥60.8T | ¥47.2T |
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 |
|---|---|---|---|---|---|---|
| Mizuho Financial 8411.T | $110B | +7% | +6% | 13% | 1.52× | 11.5% |
| Mitsubishi Ufj Financial 8306.T | $230B | +14% | +11% | 13% | 1.60× | 11.2% |
| Sumitomo Mitsui Financial 8316.T | $145B | +35% | +11% | 11% | 1.42× | 10.0% |
| Citigroup C | $200B | -5% | +5% | 9% | 1.03× | 10.9% |
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 | 8411.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -18.7% | +2.9% | 2nd lowest of 21 |
| 6-month return | +7.1% | +9.6% | 9th lowest of 21 |
| Return on equity | 12.5% | 12.9% | 10th lowest of 21 |
| Price / book | 1.52× | 1.77× | 6th cheapest of 21 |
| Trailing P/E | 12.8× | 12.2× | 10th most expensive of 20 |
| ROE the price implies | 11.5% | 14.7% | 6th least demanding of 21 |
| ROE delivered | 12.5% | 12.9% | 10th lowest of 21 |
| Bond spread | 89 bp | 66 bp | 2nd widest of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Mizuho Financial 8411.T | Japan | $110B | +7% | +6% | 13% | 1.52× | 11.5% | 12.5% |
| Bank of Communications 3328.HK | Hong Kong | $107B | +19% | +3% | 8% | 0.55× | 4.8% | 8.3% |
| Bank of Nova Scotia BNS.TO | Canada | $114B | +21% | -3% | 12% | 1.99× | 16.3% | 11.6% |
| BNP Paribas BNP.PA | France | $114B | 0% | +8% | 11% | 0.84× | 10.4% | 10.9% |
| Bank of Montreal BMO.TO | Canada | $120B | +16% | -2% | 11% | 2.14× | 16.4% | 10.6% |
| Intesa Sanpaolo ISP.MI | Italy | $120B | +6% | -6% | 16% | 1.81× | 20.7% | 16.4% |
| Capital One COF | United States | $121B | +7% | +26% | 9% | 1.11× | 11.1% | 9.3% |
| Oversea-Chinese Banking O39.SI | Singapore | $97.6B | +23% | -3% | 13% | 2.02× | 14.9% | 13.2% |
| HDFC Bank HDFCBANK.NS | India | $129B | -1% | +5% | 14% | 2.00× | 24.8% | 13.9% |
| UniCredit UCG.MI | Italy | $130B | +6% | +2% | 17% | 1.77× | 25.8% | 17.3% |
| U.S. Bancorp USB | United States | $92.6B | +8% | +1% | 13% | 1.55× | 13.9% | 12.8% |
| ING Groep INGA.AS | Netherlands | $89.8B | +11% | +7% | 14% | 1.63× | 12.5% | 13.6% |
| PNC Financial Services PNC | United States | $89.4B | +4% | +8% | 13% | 1.59× | 13.2% | 12.9% |
| Westpac Banking WBC.AX | Australia | $87.6B | +4% | +2% | 9% | 1.78× | 16.4% | 9.5% |
| Banco Bilbao Vizcaya Argentaria BBVA.MC | Spain | $140B | +20% | +9% | 20% | 2.15× | 24.8% | 19.6% |
| National Australia Bank NAB.AX | Australia | $86.2B | +9% | -8% | 10% | 2.02× | 20.2% | 10.0% |
| Itau Unibanco Holding S.A. Sponsored ADR Pfd ITUB | United States | $84.9B | -12% | +8% | 22% | 1.84× | 11.8% | 21.7% |
| ANZ ANZ.AX | Australia | $84.2B | +17% | -5% | 8% | 1.71× | 14.4% | 8.3% |
| Sumitomo Mitsui Financial 8316.T | Japan | $145B | +35% | +11% | 11% | 1.42× | 10.0% | 11.2% |
| DBS D05.SI | Singapore | $155B | +19% | -5% | 16% | 2.83× | 21.4% | 16.3% |
| China Merchants Bank 600036.SS | China | $164B | +12% | +9% | 14% | 0.94× | 5.4% | 13.6% |
Mizuho Financial has 36 bonds outstanding with $28.7B face value. The agencies rate it A; its bonds trade like A+. Weighted yield 4.66%, a spread of 89 bp over government bonds.