Japan Securities Finance Co (JSE) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Japan Securities Finance Co €9.55, price €13.60, upside -29.8%, quality 64 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
In Frankfurt, only 0 of the last 22 trading days (30 days) had any turnover. On the other days the price is an indicative quote without trading, so we do not list this stock in the radar. It stays reachable through search.
JSSome dataSep 30, 2026
Japan Securities Finance Co
JSE · F
Overvalued / MonitorQuality is not strong enough to offset the price risk.
!Fair value €9.55 · Overvalued (−29.8%)
✓Quality 64/100
✓Healthy Growth(revenue 5y +10.2 %/yr)
!Thin margins · 9.5% net margin (TTM)
✓Low debt · generates free cash flow
✓3.7% dividend yield · Sustainable
!Mixed vs. peers(7/13)
!Moderate moat45/100
!Evidence only medium, so the estimate is less certain
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 30, 2026.
How to read this chart
60‑month range €4.83 – €13.74 · fair‑value band €7.60 – €11.93 · the €13.60 price screens above the €9.55 fair value. Dashed = 300-day average. As of Sep 30, 2026.
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Japan Securities Finance Co., Ltd., together with its subsidiaries, provides loans for margin transactions, securities financing, and securities investment in Japan. It operates through Securities Finance Business, Trust Banking Business, and Real Estate Rental business.
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Japan Securities Finance Co., Ltd., together with its subsidiaries, provides loans for margin transactions, securities financing, and securities investment in Japan. It operates through Securities Finance Business, Trust Banking Business, and Real Estate Rental business. The Securities Finance Business segment engages in lending and borrowing transactions, security finance, and securities investment services. The Trust Banking Business engages in the trust services for securities and other financial instruments, as well as banking services, such as lending. The Real Estate Rental Business engages in the leasing and management of real estate. The company was formerly known as Tokyo Securities Co., Ltd. and changed its name to Japan Securities Finance Co., Ltd. in December 1949. Japan Securities Finance Co., Ltd. was incorporated in 1927 and is headquartered in Tokyo, Japan.
Stock analysis
Japan Securities Finance Co (JSE) currently trades at €13.60, while our model-based Fair Value estimate is €9.55, 29.8% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of €12.80 per share, and 4 of the 11 models we run sit above the €13.60 price.
Bear case: the Dividend Discount group reads lowest at €5.28, and 7 of the 11 models stay below the price. Evidence for this calculation is medium.
Scenario range: €7.60 (bear) to €11.93 (bull), the price of €13.60 sits above 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 64/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Japan Securities Finance Co reported revenue of ¥24.6B in FY2026 versus ¥16.8B in FY2022, a compound +9.9%/yr. Reported net income was ¥10.6B in FY2026, compounding +19.7%/yr from FY2022.
Key figures
Market cap €1.1B · P/E ratio 18.9 · P/S ratio 8.15 · EPS (TTM) €0.7200 · Dividend yield 3.7% · Net margin 43.1% · Return on equity 8.9% · Return on assets (EBIT) 0.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 1% below its 52-week high and 45% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at 10% fair-value upside, at −30%, JSE screens richer than that median.
Fair Value models
Bear €7.60Fair Value €9.55Bull €11.93
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.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.Evidence ⓘEvidence = 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.
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.81/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+10.9%
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.
+2.8%
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.
+10.2%
Start year 2021 (pandemic). Over 10 years: +1.1% a year
Revenue growth 12 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.
+1.9%
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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. 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.
+28.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+24.8%
Dividend (yield on the price)3.7%
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.24.8% vs 15.1%, picking up
Profit margin 2014 to 2019 ⓘ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.13% → 27%
Compare Japan Securities Finance Co with another stock
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.Credit Services · 333 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside−28.7% · Below median
Profitability
Return on equity (TTM)8.9% · Above median
Return on assets0.1% · Bottom 25%
Net margin (TTM)9.5% · Below median
Operating margin (TTM)13.8% · Below median
Growth and dividend
Revenue growth56.8% · Top 25%
Dividend yield (TTM)3.7% · Above median
Balance sheet
Debt / equity0.03× · Lowest 25%
Valuation Multiplesvs Credit Services median · lower = cheaper
P/E (TTM)18.9× · Pricier than median
P/B1.41× · Pricier than median
P/S (TTM)1.52× · Cheaper than median
P/FCF1.4× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 49
FUTURE (revenue growth)100· sector 46
PAST (return on equity)36· sector 32
HEALTH (low debt)99· sector 59
DIVIDEND (yield)73· sector 64
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Japan Securities Finance Co Fair Value". https://www.fairvalue-calculator.com/stock/JSE.F
Frequently asked questions
Is Japan Securities Finance Co (JSE) overvalued or undervalued?
As of Sep 30, 2026, our model estimates a fair value of €9.55 versus a price of €13.60, about −30% upside (overvalued).
What is the fair value of JSE?
Our model-based fair value for Japan Securities Finance Co is €9.55 (as of Sep 30, 2026), built from audited fundamentals. The current price: €13.60.
What is the quality score of JSE?
Japan Securities Finance Co has a Quality Score of 64/100. 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 Japan Securities Finance Co (JSE)?
Our model-based price target is the fair value of €9.55 (as of Sep 30, 2026) from 11 valuation models. Cautious scenario €7.60, optimistic scenario €11.93. It is a calculation from audited fundamentals, not an analyst target.
What is the Japan Securities Finance Co stock forecast for 2026?
Our models put fair value at €9.55, about −30% upside versus a price of €13.60 (overvalued). Cautious scenario €7.60, optimistic scenario €11.93. The calculation is refreshed regularly with new filings.
Does Japan Securities Finance Co pay a dividend?
Japan Securities Finance Co currently shows a dividend yield of about 3.66% relative to its recent price (as of Sep 30, 2026).
What is the intrinsic value of Japan Securities Finance Co (JSE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Japan Securities Finance Co it is €9.55 per share (as of Sep 30, 2026), against a price of €13.60. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is Japan Securities Finance Co stock overvalued or undervalued in 2026?
As of Sep 30, 2026, JSE trades above its calculated fair value: price €13.60, fair value €9.55, a gap of about −30% (overvalued). 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 JSE?
No. The price is what the market pays today (€13.60); the fair value is what the company's own numbers justify (€9.55). For Japan Securities Finance Co the two are €4.05 per share apart. That gap is exactly why we show both numbers side by side.
How much is Japan Securities Finance Co worth?
The market values Japan Securities Finance Co at about €1.1B (market capitalisation, as of Sep 30, 2026). Per share that is €13.60; our models calculate a fair value of €9.55 per share.
What do the bullish and bearish scenarios say about JSE?
Our models span a range for Japan Securities Finance Co: cautious scenario €7.60, base €9.55, optimistic €11.93 per share (as of Sep 30, 2026, price €13.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of JSE?
Japan Securities Finance Co trades at a price-to-earnings ratio of 18.9 (as of Sep 30, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €9.55 is built from several models across several years. Other multiples: P/B 1.4, P/S 1.5.
How solid is the balance sheet of Japan Securities Finance Co (JSE)?
Balance-sheet figures for Japan Securities Finance Co (as of Sep 30, 2026): return on equity 8.9%, debt of 0.03 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is JSE from its 52-week high?
Japan Securities Finance Co trades at €13.60, about 1% below its 52-week high of €13.74 and 45% above the low of €9.36 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of €9.55 is for.
Which stocks are comparable to Japan Securities Finance Co?
From the same area (Financial Services) we also value Visa Inc, Mastercard Incorporated, American Express Company, Capital One Financial Corporation, 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 Japan Securities Finance Co stock attractive at the current price?
The data as of Sep 30, 2026: price €13.60, calculated fair value €9.55 (−30%), Quality Score 64/100, from 11 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 JSE calculated?
We run Japan Securities Finance Co through 11 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €9.55, 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 14.7 % above its aggregate fair value. Japan Securities Finance Co itself currently trades above fair value. 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 Japan Securities Finance Co (JSE)?
The closing price on Sep 30, 2026 was €13.60. Our model-based fair value is €9.55, about −30% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Japan Securities Finance Co right now?
The price sits above even our optimistic bull case (€11.93). The favourable scenario is already priced in. Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Japan Securities Finance Co
How large is the market capitalisation of Japan Securities Finance Co (JSE)?
The market capitalisation of Japan Securities Finance Co is €1.1B. 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 Japan Securities Finance Co (JSE)?
The price-to-sales ratio of Japan Securities Finance Co is 8.15 (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 Japan Securities Finance Co (JSE)?
Earnings per share at Japan Securities Finance Co are €0.7200 (price ÷ EPS = P/E 18.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Japan Securities Finance Co (JSE)?
The dividend yield of Japan Securities Finance Co is 3.7% (payout 69.1%). 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 Japan Securities Finance Co (JSE)?
The net margin of Japan Securities Finance Co is 43.1% (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 Japan Securities Finance Co (JSE)?
The return on equity (ROE) of Japan Securities Finance Co is 8.9% (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 Japan Securities Finance Co (JSE)?
On an EBIT basis the return on assets of Japan Securities Finance Co is 0.1% (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 Japan Securities Finance Co (JSE)?
The operating margin of Japan Securities Finance Co is 13.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Japan Securities Finance Co (JSE)?
Revenue at Japan Securities Finance Co is growing +56.8% versus a year earlier (3y avg +2.8%). 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 Japan Securities Finance Co (JSE)?
Earnings per share at Japan Securities Finance Co are growing +68.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Japan Securities Finance Co (JSE) generate?
The free cash flow of Japan Securities Finance Co is ¥135B (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 Japan Securities Finance Co (JSE) carry?
The net debt of Japan Securities Finance Co is ¥2.1T (fiscal year 2026, ≈ 15.3 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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