GMO internet group, Inc.

TSE:9449 Stock Report

Market Cap: JP¥312.7b

GMO internet group Future Growth

Future criteria checks 4/6

GMO internet group is forecast to grow earnings and revenue by 18.1% and 7.9% per annum respectively. EPS is expected to grow by 16.6% per annum. Return on equity is forecast to be 24.4% in 3 years.

Key information

18.1%

Earnings growth rate

16.56%

EPS growth rate

IT earnings growth11.5%
Revenue growth rate7.9%
Future return on equity24.39%
Analyst coverage

Low

Last updated15 May 2026

Recent future growth updates

Recent updates

Narrative Update • Jun 03

9449: Takeover Defense And Subsidiary Actions Will Support Future Share Returns

Analysts kept GMO Internet Group's fair value estimate steady at ¥5,000. Modest tweaks to the discount rate, revenue growth, profit margin, and future P/E assumptions reflect a slightly more cautious but still balanced outlook on the stock's risk and earnings profile.
Narrative Update • May 02

9449: AI Alliance And GPU Cloud Investment Will Drive Upside-Skewed Outlook

Analysts kept their fair value estimate for GMO Internet Group steady at ¥4,122, citing unchanged assumptions for the discount rate, revenue growth, profit margin, and future P/E as the basis for leaving price targets aligned with prior views. What's in the News Board meeting on April 10, 2026 to consider a secondary offering of shares in consolidated subsidiary GMO Internet, Inc.
Narrative Update • Apr 17

9449: AI Alliance And GPU Cloud Expansion Will Drive A More Upside-Skewed Outlook

Analysts now see GMO Internet Group’s fair value edging from ¥4,062.5 to ¥4,122.0. This reflects slightly adjusted assumptions on the discount rate, revenue growth, profit margins, and a lower future P/E of 17.22 versus 18.51 previously. What's in the News Board meeting on April 10, 2026 to consider a secondary offering of shares in consolidated subsidiary GMO Internet, Inc., via an underwriting syndicate led by joint lead managers (Key Developments).
Narrative Update • Apr 03

9449: Share Repurchases And AI Fintech Expansion Will Support Future Returns

Analysts have maintained their ¥5,000 price target for GMO Internet Group, citing slightly revised assumptions for revenue growth, profit margins, and a lower future P/E multiple as the main factors behind the updated view. What's in the News Board meeting on March 19, 2026, to consider continuation of the policy toward large scale purchases of the company’s shares, described as takeover defense measures (Board Meeting).
Narrative Update • Mar 20

9449: Buybacks And AI Alliances Will Shape A More Upside-Skewed Outlook

Analysts have kept their average price target for GMO Internet Group unchanged at ¥4,062.50. They cite slightly higher modeled revenue growth of 8.75%, a marginally stronger profit margin of 7.84%, and a modestly higher future P/E assumption of 18.51x in their updated forecasts.
Narrative Update • Mar 06

9449: Share Repurchases And New AI Authorizations Will Support Future Shareholder Returns

Analysts have maintained their fair value estimate for GMO Internet Group at ¥5,000. Only minor adjustments have been made to assumptions on revenue growth, profit margins, and the future P/E used to support the unchanged price target.
Narrative Update • Feb 19

9449: Share Repurchases And AI Expansion Will Support Stronger Shareholder Returns

Analysts have kept their ¥5,000 price target on GMO Internet Group steady, citing a slightly lower discount rate, a modestly softer revenue growth outlook, and a small improvement in expected profit margin and future P/E assumptions as reasons for only fine tuning their models rather than changing the headline target. What's in the News The board approved a proposal to amend the Articles of Incorporation, aiming to expand and reinforce operations in AI, robotics and cybersecurity, and to add new purposes related to insurance and small-amount and short-term insurance businesses, subject to approval at the FY2025 AGM on March 19, 2026 (Changes in Company Bylaws/Rules, Feb 16, 2026).
Narrative Update • Feb 05

9449: Buybacks And Alliance Plans Will Guide A Measured Outlook

Analysts have kept their fair value estimate for GMO Internet Group unchanged at ¥4,062.50 while modestly adjusting inputs such as the discount rate and assumed future P/E. This reflects updated views on the stock's risk profile rather than a shift in their headline price target.
Narrative Update • Jan 22

9449: Share Buybacks And Alliance Plans Will Shape A Balanced Outlook

Analysts have lifted their fair value estimate for GMO Internet Group from ¥3,670 to ¥4,062.50, citing adjustments to the discount rate, revenue growth, profit margin assumptions and a higher future P/E as the main drivers of this change. What's in the News The Board of Directors authorized a share repurchase program on November 25, 2025, allowing GMO Internet Group to buy back up to 4,200,000 shares, or 4.14% of issued share capital, for up to ¥10,000 million.
Narrative Update • Jan 07

9449: Share Repurchases And Alliance Moves Will Support Stronger Shareholder Returns

Analysts have lifted their price target on GMO Internet Group to ¥5,000, citing updated assumptions for slightly higher revenue growth, a modestly lower profit margin, and a marginally higher future P/E multiple. What's in the News The Board of Directors authorized a share repurchase program on November 25, 2025, allowing GMO Internet Group to buy back up to 4,200,000 shares, or 4.14% of issued share capital, for up to ¥10,000 million, with the program running through February 12, 2026 (Key Developments).
Narrative Update • Dec 13

9449: Share Buybacks And Higher Margins Will Drive Stronger Shareholder Returns

Analysts have raised their fair value estimate for GMO Internet Group from ¥4,500 to ¥5,000, citing a modest uplift in expected profit margins and a slightly higher justified future earnings multiple, despite largely unchanged growth assumptions and discount rate. What's in the News The Board of Directors authorized a new share buyback plan on November 25, 2025, signaling ongoing commitment to shareholder returns (Key Developments).
Analysis Article • Nov 03

GMO internet group, Inc. (TSE:9449) Shares Could Be 45% Below Their Intrinsic Value Estimate

Key Insights Using the 2 Stage Free Cash Flow to Equity, GMO internet group fair value estimate is JP¥6,260 GMO...
Analysis Article • Oct 16

Market Participants Recognise GMO internet group, Inc.'s (TSE:9449) Earnings

When close to half the companies in Japan have price-to-earnings ratios (or "P/E's") below 14x, you may consider GMO...
Analysis Article • Aug 05

Is There An Opportunity With GMO internet group, Inc.'s (TSE:9449) 40% Undervaluation?

TSE:9449 1 Year Share Price vs Fair Value Explore GMO internet group's Fair Values from the Community and select yours...
Analysis Article • Jul 10

Is GMO internet group (TSE:9449) A Risky Investment?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysis Article • Jun 19

GMO internet group (TSE:9449) Has Announced A Dividend Of ¥14.00

GMO internet group, Inc. ( TSE:9449 ) has announced that it will pay a dividend of ¥14.00 per share on the 18th of...
Analysis Article • May 07

Why Investors Shouldn't Be Surprised By GMO internet group, Inc.'s (TSE:9449) 25% Share Price Surge

GMO internet group, Inc. ( TSE:9449 ) shareholders have had their patience rewarded with a 25% share price jump in the...
Analysis Article • Mar 20

GMO internet group (TSE:9449) Has Announced A Dividend Of ¥14.00

GMO internet group, Inc.'s ( TSE:9449 ) investors are due to receive a payment of ¥14.00 per share on 17th of June...
Analysis Article • Mar 06

GMO internet group's (TSE:9449) Dividend Will Be ¥14.00

GMO internet group, Inc.'s ( TSE:9449 ) investors are due to receive a payment of ¥14.00 per share on 17th of June...
User avatar
New Narrative • Feb 23

Launch Of Net Security Project Will Address Global Cybersecurity Needs

The transition to a holding structure and security project launch can drive revenue growth by enhancing operational efficiency and creating new revenue streams.
Analysis Article • Dec 18

GMO internet group (TSE:9449) Has Announced A Dividend Of ¥12.30

The board of GMO internet group, Inc. ( TSE:9449 ) has announced that it will pay a dividend of ¥12.30 per share on the...
Analysis Article • Nov 08

Investors Interested In GMO internet group, Inc.'s (TSE:9449) Earnings

With a price-to-earnings (or "P/E") ratio of 18.1x GMO internet group, Inc. ( TSE:9449 ) may be sending bearish signals...
Analysis Article • Aug 06

It's Down 26% But GMO internet group, Inc. (TSE:9449) Could Be Riskier Than It Looks

GMO internet group, Inc. ( TSE:9449 ) shareholders that were waiting for something to happen have been dealt a blow...
Analysis Article • Jun 27

Is GMO internet group (TSE:9449) A Risky Investment?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Apr 19

With GMO internet group, Inc. (TSE:9449) It Looks Like You'll Get What You Pay For

GMO internet group, Inc.'s ( TSE:9449 ) price-to-earnings (or "P/E") ratio of 19.5x might make it look like a sell...
Analysis Article • Feb 29

GMO internet group (TSE:9449) Takes On Some Risk With Its Use Of Debt

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Earnings and Revenue Growth Forecasts

TSE:9449 - Analysts future estimates and past financials data (JPY Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/2028367,39528,79762,452N/A2
12/31/2027334,35525,55757,649N/A5
12/31/2026310,29615,41352,100N/A3
3/31/2026294,98317,506N/AN/AN/A
12/31/2025285,37716,74943,48955,537N/A
9/30/2025285,11816,778N/AN/AN/A
6/30/2025283,47816,36683,990100,299N/A
3/31/2025280,09313,380N/AN/AN/A
12/31/2024277,40713,37353,76984,735N/A
9/30/2024272,20214,766N/AN/AN/A
6/30/2024265,08015,5697,71632,693N/A
3/31/2024261,91115,779N/AN/AN/A
12/31/2023258,64314,191-7,52714,914N/A
9/30/2023255,1078,988N/AN/AN/A
6/30/2023250,1834,048-13,4529,887N/A
3/31/2023255,22410,709N/AN/AN/A
12/31/2022245,69613,20915,24025,641N/A
9/30/2022247,62918,081N/AN/AN/A
6/30/2022246,52223,3297,71316,338N/A
3/31/2022236,26518,302N/AN/AN/A
12/31/2021241,44617,527-32,279-23,783N/A
9/30/2021230,19916,843N/AN/AN/A
6/30/2021224,53915,806-26,650-18,879N/A
3/31/2021218,10613,684N/AN/AN/A
12/31/2020210,55910,28430,79138,277N/A
9/30/2020206,4698,463N/AN/AN/A
6/30/2020206,6338,48326,46436,082N/A
3/31/2020203,0078,569N/AN/AN/A
12/31/2019196,1718,337N/A7,502N/A
9/30/2019195,026-20,241N/AN/AN/A
6/30/2019189,945-20,903N/A16,408N/A
3/31/2019188,335-20,770N/AN/AN/A
12/31/2018185,177-20,707N/A13,127N/A
9/30/2018179,01110,395N/A15,145N/A
6/30/2018171,18610,309N/A9,334N/A
3/31/2018161,9218,966N/A8,414N/A
12/31/2017154,2568,030N/A5,481N/A
9/30/2017147,5515,068N/A10,830N/A
6/30/2017142,6595,579N/A14,757N/A
3/31/2017137,8937,024N/A12,615N/A
12/31/2016135,0267,234N/A3,118N/A
9/30/2016131,38610,816N/A11,843N/A
6/30/2016129,4739,930N/A-33,551N/A
3/31/2016126,92712,918N/A-26,813N/A
12/31/2015126,33713,419N/A-12,624N/A
9/30/2015124,29410,422N/A-17,466N/A
6/30/2015120,48510,214N/A18,228N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 9449's forecast earnings growth (18.1% per year) is above the savings rate (0.8%).

Earnings vs Market: 9449's earnings (18.1% per year) are forecast to grow faster than the JP market (9.2% per year).

High Growth Earnings: 9449's earnings are forecast to grow, but not significantly.

Revenue vs Market: 9449's revenue (7.9% per year) is forecast to grow faster than the JP market (6% per year).

High Growth Revenue: 9449's revenue (7.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 9449's Return on Equity is forecast to be high in 3 years time (24.4%)

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/08 22:51
End of Day Share Price 2026/06/08 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

GMO internet group, Inc. is covered by 17 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Keiichi YoneshimaBarclays
Yoshitaka NagaoBofA Global Research
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