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Japanese online-brokerage-led financial group: SBI Securities, an internet bank, insurance and crypto exchange.
Japanese online-brokerage-led financial group: SBI Securities, an internet bank, insurance and crypto exchange.
Earns from several linked businesses: brokerage commissions and margin interest at SBI Securities, bank interest at Sumishin SBI Net Bank and the former Shinsei Bank, asset management and venture-capital gains, and insurance. Investment gains from its funds make profit more erratic than a pure broker. Founder Yoshitaka Kitao still leads it.
In one line: A Japanese Charles Schwab with a crypto/PE arm.
Moat: narrow (scale, distribution, brand). Largest online brokerage in Japan with a low-cost model and regional-bank alliance strategy, but fintech competition is intensifying.
Headquarters: Tokyo, Japan · Founded: 1999 · Employees: 18,669
Size SBI (8473.T) is a Japan Financials company (Financial Conglomerates) with a market value of $11.2B, the 122nd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,736 on 6 Nov 2026.
Performance Over six months the shares fell 13.4%, against +1.4% for the median peer and +1.8% for the Japan market (cap-weighted) — 2nd lowest of 20 in its peer set.
Growth Revenue grew 19.7% over the last twelve months (peer median +1.6%); the operating margin is 40.2% (peer median 41.2%).
Valuation It trades at 0.91× book value against a peer median of 1.18× (3rd cheapest of 20).
Price implies The share price implies a return on equity of about 8.0%; SBI delivers 28.4%, so the price asks less than the business earns today.
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.94T | ¥1.78T | ¥1.35T | ¥1.19T | ¥912B |
| Revenue growth | — | +31% | +14% | +30% | — |
| Gross profit | ¥1.49T | ¥1.36T | ¥1.03T | ¥884B | ¥687B |
| EBITDA | ¥944B | ¥1.05T | ¥767B | ¥580B | ¥443B |
| Net income | ¥492B | ¥428B | ¥162B | ¥87.2B | ¥35.4B |
| Free cash flow | n/a | ¥1.86T | ¥1.67T | ¥1.42T | ¥1.01T |
| Capital expenditure | ¥55.2B | ¥42.1B | ¥51.8B | ¥43.5B | ¥37.6B |
| Total debt | ¥7.76T | ¥7.07T | ¥5.77T | ¥4.52T | ¥3.73T |
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 |
|---|---|---|---|---|---|---|
| SBI 8473.T | $11.2B | -13% | +20% | 28% | 0.91× | 8.0% |
| Monex 8698.T | $980M | -8% | +16% | 9% | 1.19× | 8.4% |
| Matsui Securities 8628.T | $1.61B | +7% | +47% | 23% | 2.92× | 12.5% |
| Nomura 8604.T | $26.5B | +15% | +12% | 11% | 1.12× | 10.4% |
| Daiwa Securities 8601.T | $14.0B | +11% | +18% | 12% | 1.23× | 10.0% |
| Sony Financial 8729.T | $6.06B | +1% | -10% | 14% | 1.08× | 5.1% |
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 | 8473.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.7% | +4.2% | 3rd lowest of 21 |
| 6-month return | -13.4% | +1.4% | 2nd lowest of 20 |
| Return on equity | 28.4% | 10.0% | 3rd highest of 20 |
| Price / book | 0.91× | 1.18× | 3rd cheapest of 20 |
| Trailing P/E | 3.9× | 12.0× | 2nd cheapest of 17 |
| ROE the price implies | 8.0% | 11.6% | 5th least demanding of 20 |
| ROE delivered | 28.4% | 11.6% | 3rd highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| SBI 8473.T | Japan | $11.2B | -13% | +20% | 28% | 0.91× | 8.0% | 28.4% |
| BitMine Immersion Technologies BMNR | United States | $11.3B | -15% | +1,022% | -151% | 0.94× | 15.1% | -151.2% |
| M&G MNG.L | United Kingdom | $10.3B | +7% | +68% | -4% | 2.91× | 32.8% | -3.8% |
| Washington H. Soul Pattinson and SOL.AX | Australia | $12.5B | +12% | +143% | 20% | 1.42× | 8.9% | 19.8% |
| Bajaj Holdings & Investment BAJAJHLDNG.NS | India | $13.0B | +4% | -14% | 13% | 1.67× | 20.7% | 13.1% |
| Ares Capital ARCC | United States | $13.8B | +1% | -8% | 6% | 0.99× | 8.1% | 6.2% |
| Investment AB Latour LATO-B.ST | Sweden | $14.2B | +19% | +3% | 17% | 3.22× | 27.0% | 16.8% |
| Aker AKER.OL | Norway | $8.60B | -7% | -17% | 50% | 1.18× | 11.7% | 50.3% |
| L E Lundbergforetagen LUND-B.ST | Sweden | $15.3B | +16% | -4% | 14% | 1.04× | 8.4% | 14.2% |
| Jio Financial Services JIOFIN.NS | India | $16.2B | -8% | +117% | 1% | 1.18× | 19.7% | 1.3% |
| Julius Baer Gruppe BAER.SW | Switzerland | $17.1B | +2% | 0% | 16% | 1.89× | 8.8% | 16.2% |
| HAL Trust HAL.AS | Netherlands | $17.2B | +1% | -5% | 9% | 0.94× | 6.4% | 9.1% |
| Brookfield Business BBUC.TO | Canada | $6.15B | -9% | +106% | -24% | 1.11× | 11.6% | -23.5% |
| Onex ONEX.TO | Canada | $5.91B | -7% | +2% | 5% | 0.60× | 6.5% | 5.2% |
| China Resources New Energy 001248.SZ | China | $21.5B | n/a | 0% | 7% | 1.20× | 3.7% | n/a |
| Azimut AZM.MI | Italy | $5.70B | -1% | +17% | 28% | 2.62× | 24.8% | 28.5% |
| Blue Owl Capital OBDC | United States | $5.39B | -4% | +1% | 4% | 0.77× | 7.1% | 3.9% |
| Industrivarden INDU-A.ST | Sweden | $23.4B | +9% | -1% | 27% | 1.03× | 9.4% | 27.2% |
| Main Street Capital MAIN | United States | $5.33B | +6% | +3% | 15% | 1.68× | 12.3% | 14.9% |
| Zegona Communications ZEG.L | United Kingdom | $5.17B | -5% | +55% | n/a | n/a | n/a | n/a |
| Authum Investment & Infrastucture AIIL.NS | India | $5.14B | +16% | -23% | 10% | 2.59× | 37.9% | 10.0% |