SBI Holdings Inc (SBHGF) fair value: what the stock is really worth
As of Nov 10, 2026: fair value (intrinsic value) of SBI Holdings Inc stock $30.57, price $17.79, upside +71.9%, quality 43 out of 100. Rating: strongly undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.
How to read this chart
60‑month range $13.48 – $45.84 · fair‑value band $22.92 – $38.21 · the $17.79 price screens below the $30.57 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.
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SBI Holdings, Inc. engages in investment businesses in Japan and internationally. The company operates through five business segments: Financial Services Business, Asset Management Business, PE Investment Business, Crypto-Asset Business, and Next Gen Business segments.
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Its Financial Services Business segment consists of a range of finance-related business, including securities brokerage business; banking services business; and life, property, and casualty insurance businesses.
The Asset Management Business segment includes setting, solicitation, and management of investment trust; investment advice; and financial products information.
Its PE Investment Business segment includes fund management and investment in Internet technology, fintech, blockchain, finance, and biotechnology-related venture companies. The Crypto-asset Business segment provides crypto-asset exchange and trading services.
Its Next Gen Business engages in development and distribution of pharmaceutical products, health foods, and cosmetics with 5-aminolevulinic acid; business working on advanced fields related to Web 3, renewable energy business, human resources-related business, and media-related business.
The company was formerly known as Softbank Investment Corporation and changed its name to SBI Holdings, Inc. in July 2005. SBI Holdings, Inc. was incorporated in 1999 and is headquartered in Minato, Japan.
Stock analysis
SBI Holdings Inc (SBHGF) currently trades at $17.79, while our model-based Fair Value estimate is $30.57, implying the stock looks roughly 42% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of $45.68 per share, and 3 of the 6 models we run sit above the $17.79 price.
Bear case: the Asset-Based group reads lowest at $9.54, and 3 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: $22.92 (bear) to $38.21 (bull), the price of $17.79 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 43/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
SBI Holdings Inc reported revenue of ¥1.9T in FY2026 versus ¥764B in FY2022, a compound +25.5%/yr. Reported net income was ¥428B in FY2026, compounding +3.9%/yr from FY2022.
Key figures
Market cap $12.3B Large · P/E ratio 3.9 · P/S ratio 0.87 · EPS (TTM) $4.59 · Dividend yield 3.4% · Net margin 22.5% · Return on equity 23.4% · Return on assets (EBIT) 0.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 75 out of 100 (low confidence).
What moves the price
The share trades about 58% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −24% fair-value upside, at 72%, SBHGF screens cheaper than that median.
Fair Value models
Bear$22.92Fair Value $30.57Bull$38.21
Price $17.79 · Upside +71.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then ($2.46 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income$29.86$45.68$108.8368
DDM Multi-Stage$7.36$13.41$17.4366
Gordon GGM$7.36$16.85$30.2065
All 6 models by family
Dividend Discount
Gordon GGM$7.36$16.85$30.2065
DDM Multi-Stage$7.36$13.41$17.4366
Multiples
P/E Multiple$40.63$54.18$67.7263
P/B Multiple$14.95$19.94$24.9255
Asset-Based
NCAV (Graham)$7.12$9.54$14.2454
Economic Profit
Residual Income$29.86$45.68$108.8368
The fair value above starts from this blend and is adjusted for dilution from new shares.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+31.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+25.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+28.5%
Start year 2021 (pandemic). Over 10 years: +21.9% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.2%
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What shareholders gained per year (last 5 years), in JPY ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in JPY: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
≈ +8.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.5%
Dividend (yield on the price)3.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.16.0% vs 15.5%, steady
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.30% → 28%
Pace: the 5-year rate starts in 2021 (pandemic)
⚠ Rate on operating basis: 2026 sits 117% above its own trend.
AI conclusion: Limited signals highlight expansion in digital assets via crypto exchange integration as the core strength, offset by high leverage and sector volatility risks.
Main risk: Violations of anti-money laundering rules or other financial regulations could lead to business suspension orders or loss of crypto exchange registration for SBI Holdings' digital-asset activities.
Bull case: By leveraging its scale after the Bitbank acquisition and partnerships SBI Holdings could integrate compliance and on-chain services more efficiently than smaller rivals and expand stablecoin and tokenization offerings under the new regulatory framework.
Bear case: If regulatory scrutiny intensifies or integration of Bitbank encounters compliance hurdles the group's growing reliance on volatile crypto operations could face business restrictions or higher ongoing costs that erode synergies.
SBI has just completed the full acquisition of Bitbank, folding one of Japan’s larger crypto exchanges into its group structure. This deepens its digital-asset reach alongside existing crypto and stablecoin initiatives, yet it also ties more of the conglomerate’s results to a sector prone to sharp swings. Will tighter integration of exchange operations produce reliable synergies or mainly add execution and regulatory uncertainty?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Financial Conglomerates · 57 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score43 · Bottom 25%
Fair Value upside+71.9% · Top 25%
Profitability
Return on equity (12 months)23.4% · Top 25%
Return on assets1.1% · Below median
Net margin (12 months)24.3% · Above median
Operating margin (12 months)54.4% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)28.8% · Top 25%
Dividend yield (12 months)3.4% · Below median
Balance sheet
Debt / equity3.91× · Highest 25%
Valuation Multiplesvs Financial Conglomerates median · lower = cheaper
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Is SBI Holdings Inc (SBHGF) overvalued or undervalued?
As of Nov 10, 2026, our model estimates a fair value of $30.57 versus a price of $17.79, about +72% upside (undervalued).
What is the fair value of SBHGF?
Our model-based fair value for SBI Holdings Inc is $30.57 (as of Nov 10, 2026), built from audited fundamentals. The current price: $17.79.
What is the quality score of SBHGF?
SBI Holdings Inc has a Quality Score of 43/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for SBI Holdings Inc (SBHGF)?
Our model-based price target is the fair value of $30.57 (as of Nov 10, 2026) from 6 valuation models. Cautious scenario $22.92, optimistic scenario $38.21. It is a calculation from audited fundamentals, not an analyst target.
What is the SBI Holdings Inc stock forecast for 2026?
Our models put fair value at $30.57, about +72% upside versus a price of $17.79 (undervalued). Cautious scenario $22.92, optimistic scenario $38.21. The calculation is refreshed regularly with new filings.
What is the revenue of SBI Holdings Inc (SBHGF)?
SBI Holdings Inc reported trailing-twelve-month revenue of about ¥2.0T (latest available figure, as of Nov 10, 2026).
Does SBI Holdings Inc pay a dividend?
SBI Holdings Inc currently shows a dividend yield of 3.37% relative to its recent price (as of Nov 10, 2026).
How much is the dividend of SBI Holdings Inc (SBHGF) and when is the ex-dividend date?
SBI Holdings Inc pays a dividend of $0.599 per share a year, a dividend yield of 3.4%. The last ex-dividend date was Sep 29, 2026. A dividend has been paid every year since at least 2007. The payout ratio is 14.4% of earnings. Our assessment: Low payout. A low payout ratio: the dividend takes at most 60 % of earnings. Whether free cash flow covers it as well, we cannot see for this company.
What is the intrinsic value of SBI Holdings Inc (SBHGF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SBI Holdings Inc it is $30.57 per share (as of Nov 10, 2026), against a price of $17.79. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is SBI Holdings Inc stock overvalued or undervalued in 2026?
As of Nov 10, 2026, SBHGF trades below its calculated fair value: price $17.79, fair value $30.57, a gap of about +72% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SBHGF?
No. The price is what the market pays today ($17.79); the fair value is what the company's own numbers justify ($30.57). For SBI Holdings Inc the two are $12.78 per share apart. That gap is exactly why we show both numbers side by side.
How much is SBI Holdings Inc worth?
The market values SBI Holdings Inc at about $12.3B (market capitalisation, as of Nov 10, 2026). Per share that is $17.79; our models calculate a fair value of $30.57 per share.
What do the bullish and bearish scenarios say about SBHGF?
Our models span a range for SBI Holdings Inc: cautious scenario $22.92, base $30.57, optimistic $38.21 per share (as of Nov 10, 2026, price $17.79). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SBHGF?
SBI Holdings Inc trades at a price-to-earnings ratio of 3.9 (as of Nov 10, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $30.57 is built from several models across several years. Other multiples: P/B 1.1, P/S 1.0, EV/EBITDA 2.5.
How solid is the balance sheet of SBI Holdings Inc (SBHGF)?
Balance-sheet figures for SBI Holdings Inc (as of Nov 10, 2026): return on equity 23.4%, debt of 3.91 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is SBHGF from its 52-week high?
SBI Holdings Inc trades at $17.79, about 58% below its 52-week high of $42.10 and 13% above the low of $15.79 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of $30.57 is for.
Which stocks are comparable to SBI Holdings Inc?
From the same area (Financial Services) we also value ORIX Corporation, Bajaj Finserv Ltd, Yuanta Financial Holding, China Galaxy Securities Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is SBI Holdings Inc stock attractive at the current price?
The data as of Nov 10, 2026: price $17.79, calculated fair value $30.57 (+72%), Quality Score 43/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SBHGF calculated?
We run SBI Holdings Inc through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of $30.57 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. SBI Holdings Inc currently trades 42% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of SBI Holdings Inc (SBHGF)?
The closing price on Nov 10, 2026 was $17.79. Our model-based fair value is $30.57, about +72% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SBI Holdings Inc right now?
The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case ($22.92). The market is more pessimistic than our downside scenario. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of SBI Holdings Inc (SBHGF) come from?
Earnings per share at SBI Holdings Inc grew +13.7 % a year from 2015 to 2026. Broken into its drivers: revenue per share +13.4 %, EBIT margin +0.7 %, tax rate +1.4 %, residual (interest, one-offs) −1.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of SBI Holdings Inc
How large is the market capitalisation of SBI Holdings Inc (SBHGF)?
The market capitalisation of SBI Holdings Inc is $12.3B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of SBI Holdings Inc (SBHGF)?
The price-to-sales ratio of SBI Holdings Inc is 0.87 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of SBI Holdings Inc (SBHGF)?
Earnings per share at SBI Holdings Inc are $4.59 (price ÷ EPS = P/E 3.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of SBI Holdings Inc (SBHGF)?
The dividend yield of SBI Holdings Inc is 3.4% (payout 13.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of SBI Holdings Inc (SBHGF)?
The net margin of SBI Holdings Inc is 22.5% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of SBI Holdings Inc (SBHGF)?
The return on equity (ROE) of SBI Holdings Inc is 23.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of SBI Holdings Inc (SBHGF)?
On an EBIT basis the return on assets of SBI Holdings Inc is 0.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of SBI Holdings Inc (SBHGF)?
The operating margin of SBI Holdings Inc is 54.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SBI Holdings Inc (SBHGF)?
Revenue at SBI Holdings Inc is growing +28.8% versus a year earlier (3y avg +25.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at SBI Holdings Inc (SBHGF)?
Earnings per share at SBI Holdings Inc are growing +64.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does SBI Holdings Inc (SBHGF) generate?
The free cash flow of SBI Holdings Inc is ¥1.7T (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does SBI Holdings Inc (SBHGF) carry?
The net debt of SBI Holdings Inc is ¥569B (fiscal year 2026, ≈ 0.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 10, 2026