SBI Holdings, Inc. (8473.T) stock analysis

In our weekly check, SBI Holdings, Inc. is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 12 pass, warnings: 5, red flags: 8.

About SBI Holdings, Inc.

SBI Holdings, Inc. is a Financial Services company (Financial - Conglomerates) based in Japan, listed on JPX as 8473.T.

What our checks show for 8473.T

Red flags

• Net debt is 1.4x a year of EBITDA (debt/equity 4.02). That limits room in a downturn and raises refinancing risk.
• The net margin fell by 32.1 points over 5 years, to 24.3%: the company keeps less of each sale as profit.
• Analysts expect revenue to shrink about 7.4% a year.
• Analysts expect the net margin to shrink by 9.4 points from today's 24.3%.
• The stock has fallen as much as 91% from a peak. Would you have held through that?
• Recovering from its deepest fall took about 12.2 years.
• Return on capital (ROCE) is only 2.4%.
• Pay in shares equals 0% of free cash flow: it dilutes shareholders.

Warning signs

• Operating profit covers interest only 3.4 times: a weak year could make the payments hard.
• Analysts expect earnings per share to shrink about 23.7% a year.
• Free cash flow is only 0% of revenue.
• The price swings a lot: 40.4% annual volatility. Expect large ups and downs.
• The share count grew by 16.3% in 2 years: each shareholder owns a smaller slice.

Strengths

• The gross margin is 74% and has risen by 16.6 points: pricing power is holding.
• Operating cash flow is 3.79x net profit: the profit arrives as real cash.
• Revenue grew 30.4% a year over the last 3 years.
• Earnings per share grew 125% a year over the last 3 years.
• Net profit grew 140% a year over the last 3 years.
• The company keeps 24.3% of its revenue as net profit.

Next earnings report: 2026-11-02

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Questions

What grade does SBI Holdings, Inc. (8473.T) have?

In our weekly check, SBI Holdings, Inc. is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 12 pass, warnings: 5, red flags: 8. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of 8473.T stock?

This week's biggest flags for SBI Holdings, Inc.: High debt, Margins falling, Weak revenue forecast. In total 13 of 25 checks show a warning or a red flag.

What does SBI Holdings, Inc. do?

SBI Holdings, Inc. is a Financial Services company (Financial - Conglomerates) based in Japan, listed on JPX as 8473.T.

When does SBI Holdings, Inc. report earnings next?

The next earnings report is expected on 2026-11-02. We re-run the checks every week, so the grade can change after it.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-24

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