Z Holdings Corp (YAHOY) fair value: what the stock is really worth
As of Oct 22, 2026: fair value (intrinsic value) of Z Holdings Corp stock $7.82, price $6.63, upside +17.9%, quality 59 out of 100. Rating: undervalued. Calculated from audited financials with 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, dashed = 300-day average. As of Oct 22, 2026.
How to read this chart
60‑month range $4.17 – $13.01 · fair‑value band $5.47 – $10.16 · the $6.63 price screens below the $7.82 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 22, 2026.
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LY Corporation engages in the online advertising and e-commerce businesses in Japan. It operates through three segments: Media Business, Commerce Business, and Strategic Business.
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The Media Business segment offers advertising solutions, including search ads, account advertising, display advertising, and various digital content and membership services such as LINE Official Accounts, LINE promotional stamps, LINE flyers, LINE News, LINE Music, LYP Premium, and Yahoo! Email.
The Commerce Business segment provides e-commerce services and platforms, including Yahoo! Shopping, ZOZOTOWN, ZOZOUSED, Lyst, ASKUL BtoB office-related product sales, LOHACO, Yahoo! Auctions, Yahoo! Flea Market, Ikyu.com, LINE Travel, and food delivery services in Thailand.
The Strategic Business segment delivers payment and financial services, including PayPay (cashless payment), PayPay Card, PayPay Bank, PayPay Securities, LINE Pay, LINE Bank Taiwan, LINE Score, LINE FXJ, DOSI, LINE BITMAX, and other fintech offerings.
The company was formerly known as Z Holdings Corporation and changed its name to LY Corporation in October 2023. LY Corporation was incorporated in 1996 and is headquartered in Chiyoda, Japan. LY Corporation operates as a subsidiary of A Holdings Corporation.
Stock analysis
Z Holdings Corp (YAHOY) currently trades at $6.63, while our model-based Fair Value estimate is $7.82, implying the stock looks roughly 15.2% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $12.00 per share, and 12 of the 23 models we run sit above the $6.63 price.
Bear case: the Dividend Discount group reads lowest at $1.20, and 11 of the 23 models stay below the price. Data coverage for this calculation is high.
Scenario range: $5.47 (bear) to $10.16 (bull), the price of $6.63 sits inside 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 59/100 (solid quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Z Holdings Corp ADR reported revenue of ¥2.2T in FY2026 versus ¥1.6T in FY2022, a compound +8.3%/yr. Reported net income was ¥205B in FY2026, compounding +27.7%/yr from FY2022.
Key figures
Market cap $22.7B Large · P/E ratio 17.4 · P/S ratio 1.66 · EPS (TTM) $0.3800 · Dividend yield 1.4% · Net margin 9.5% · Return on equity 8.3% · Return on assets (EBIT) 2.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (medium confidence).
What moves the price
The share trades about 9% below its 52-week high and 47% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at 18%, YAHOY screens cheaper than that median.
Fair Value models
Bear$5.47Fair Value $7.82Bull$10.16
Price $6.63 · Upside +17.9%
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 ($0.2145 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.
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
+12.6%
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.
+8.9%
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.
+12.4%
Start year 2021 (pandemic). Over 10 years: +12.7% a year
Revenue growth 24 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.
+19.3%
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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.
+8.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.0%
Dividend (yield on the price)1.4%
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.16.4% vs 2.2%, picking up
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.15% → 14%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−13.0%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+7.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in JPY, Japan: IMF forecast 2.1% a year to 2030, 1.3% from 2016 to 2025) that is about −14.8% a year for the price and +5.2% for the forecasts.
AI conclusion: High gross margins from the integrated ecosystem provide a key strength, yet low returns on equity and limited evidence of a durable moat remain the primary weaknesses in this competitive sector.
Main risk: Competition amid slower traditional advertising growth threatens to limit gains from the shift to higher-margin fintech and AI segments, hitting overall profitability.
LY Corporation blends messaging, search and payments into one ecosystem, with fintech and AI agents like Agent i now highlighted as key drivers of recurring revenue and margins. Traditional advertising shows slower growth amid competition, yet recent results point to strength in the strategic segment. Will the shift toward these higher-margin areas deliver lasting profitability gains or expose new execution challenges?
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.Internet Retail · 100 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score59 · Below median
Fair Value upside+17.9% · Above median
Profitability
Return on equity (12 months)8.3% · Above median
Return on assets1.8% · Below median
Net margin (12 months)9.7% · Top 25%
Operating margin (12 months)18.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)13.1% · Above median
Dividend yield (12 months)1.4% · Below median
Balance sheet
Debt / equity0.65× · Highest 25%
Valuation Multiplesvs Internet Retail median · lower = cheaper
P/E (12 months)17.4× · Cheaper than median
P/B1.18× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
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.
Is Z Holdings Corp (YAHOY) overvalued or undervalued?
As of Oct 22, 2026, our model estimates a fair value of $7.82 versus a price of $6.63, about +18% upside (undervalued).
What is the fair value of YAHOY?
Our model-based fair value for Z Holdings Corp ADR is $7.82 (as of Oct 22, 2026), built from audited fundamentals. The current price: $6.63.
What is the quality score of YAHOY?
Z Holdings Corp ADR has a Quality Score of 59/100. 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 Z Holdings Corp (YAHOY)?
Our model-based price target is the fair value of $7.82 (as of Oct 22, 2026) from 24 valuation models. Cautious scenario $5.47, optimistic scenario $10.16. It is a calculation from audited fundamentals, not an analyst target.
What is the Z Holdings Corp ADR stock forecast for 2026?
Our models put fair value at $7.82, about +18% upside versus a price of $6.63 (undervalued). Cautious scenario $5.47, optimistic scenario $10.16. The calculation is refreshed regularly with new filings.
What is the revenue of Z Holdings Corp (YAHOY)?
Z Holdings Corp ADR reported trailing-twelve-month revenue of about ¥2.1T (latest available figure, as of Oct 22, 2026).
Does Z Holdings Corp ADR pay a dividend?
Z Holdings Corp ADR currently shows a dividend yield of 1.36% relative to its recent price (as of Oct 22, 2026).
What growth is priced into Z Holdings Corp (YAHOY)?
For today's price to be fair in a discounted-cash-flow model, Z Holdings Corp ADR would have to grow free cash flow by -13.0 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +12.4 % per year. As of Oct 22, 2026.
What discount rate (WACC) does the fair value of YAHOY use?
Our models discount Z Holdings Corp ADR at 8.3 %: a base by market capitalisation (large), damped by beta 0.62, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Z Holdings Corp ADR that is -13.0 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has Z Holdings Corp (YAHOY) delivered so far?
Over the past 5 years revenue at Z Holdings Corp ADR grew +12.4 % a year. The price currently implies -13.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Z Holdings Corp (YAHOY) growing?
The median revenue growth in the sector is +4.3 % a year. That is the yardstick for the growth priced into Z Holdings Corp ADR (-13.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Z Holdings Corp (YAHOY)?
The free-cash-flow yield on the price is 18.57 %: that much free cash flow Z Holdings Corp ADR produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Z Holdings Corp (YAHOY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Z Holdings Corp ADR it is $7.82 per share (as of Oct 22, 2026), against a price of $6.63. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Z Holdings Corp ADR stock overvalued or undervalued in 2026?
As of Oct 22, 2026, YAHOY trades below its calculated fair value: price $6.63, fair value $7.82, a gap of about +18% (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 YAHOY?
No. The price is what the market pays today ($6.63); the fair value is what the company's own numbers justify ($7.82). For Z Holdings Corp ADR the two are $1.19 per share apart. That gap is exactly why we show both numbers side by side.
How much is Z Holdings Corp ADR worth?
The market values Z Holdings Corp ADR at about $22.7B (market capitalisation, as of Oct 22, 2026). Per share that is $6.63; our models calculate a fair value of $7.82 per share.
What do the bullish and bearish scenarios say about YAHOY?
Our models span a range for Z Holdings Corp ADR: cautious scenario $5.47, base $7.82, optimistic $10.16 per share (as of Oct 22, 2026, price $6.63). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of YAHOY?
Z Holdings Corp ADR trades at a price-to-earnings ratio of 17.4 (as of Oct 22, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $7.82 is built from several models across several years. Other multiples: PEG 3.2, P/B 1.2, P/S 1.7, EV/EBITDA 9.2.
What is the PEG ratio of YAHOY?
The PEG ratio of Z Holdings Corp ADR is 3.18 (P/E divided by earnings growth, as of Oct 22, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Z Holdings Corp (YAHOY)?
Balance-sheet figures for Z Holdings Corp ADR (as of Oct 22, 2026): return on equity 8.3%, debt of 0.65 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is YAHOY from its 52-week high?
Z Holdings Corp ADR trades at $6.63, about 9% below its 52-week high of $7.29 and 47% above the low of $4.52 (as of Oct 22, 2026). Distance from the high says nothing about value: that is what the fair value of $7.82 is for.
Which stocks are comparable to Z Holdings Corp ADR?
From the same area (Consumer Cyclical) we also value Amazon.com, Inc, Alibaba Group, PDD Holdings, MercadoLibre, Inc, 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 Z Holdings Corp ADR stock attractive at the current price?
The data as of Oct 22, 2026: price $6.63, calculated fair value $7.82 (+18%), Quality Score 59/100, from 24 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 YAHOY calculated?
We run Z Holdings Corp ADR through 24 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 $7.82, 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 13.2 % above its aggregate fair value. Z Holdings Corp ADR currently trades 15 % 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 Z Holdings Corp (YAHOY)?
The closing price on Oct 22, 2026 was $6.63. Our model-based fair value is $7.82, about +18% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Z Holdings Corp ADR right now?
A fairly wide model range ($5.47 to $10.16) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Z Holdings Corp (YAHOY) come from?
Earnings per share at Z Holdings Corp ADR grew −1.9 % a year from 2015 to 2026. Broken into its drivers: revenue per share +10.2 %, EBIT margin −8.8 %, tax rate +1.3 %, residual (interest, one-offs) −3.7 %. 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 Z Holdings Corp ADR
How large is the market capitalisation of Z Holdings Corp (YAHOY)?
The market capitalisation of Z Holdings Corp ADR is $22.7B. 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 Z Holdings Corp (YAHOY)?
The price-to-sales ratio of Z Holdings Corp ADR is 1.66 (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 Z Holdings Corp (YAHOY)?
Earnings per share at Z Holdings Corp ADR are $0.3800 (price ÷ EPS = P/E 17.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Z Holdings Corp (YAHOY)?
The dividend yield of Z Holdings Corp ADR is 1.4% (payout 23.7%). 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 Z Holdings Corp (YAHOY)?
The net margin of Z Holdings Corp ADR is 9.5% (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 Z Holdings Corp (YAHOY)?
The return on equity (ROE) of Z Holdings Corp ADR is 8.3% (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 Z Holdings Corp (YAHOY)?
On an EBIT basis the return on assets of Z Holdings Corp ADR is 2.9% (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 Z Holdings Corp (YAHOY)?
The operating margin of Z Holdings Corp ADR is 18.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Z Holdings Corp (YAHOY)?
Revenue at Z Holdings Corp ADR is growing +13.1% versus a year earlier (3y avg +8.9%). 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 Z Holdings Corp (YAHOY)?
Earnings per share at Z Holdings Corp ADR are growing +24.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Z Holdings Corp (YAHOY) carry?
The net debt of Z Holdings Corp ADR is ¥898B (fiscal year 2026, ≈ 1.4 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
Oct 22, 2026