Daiwa Securities Group Future Growth

Future criteria checks 2/6

Daiwa Securities Group is forecast to grow earnings and revenue by 1.7% and 17.2% per annum respectively. EPS is expected to grow by 2.7% per annum. Return on equity is forecast to be 9% in 3 years.

Key information

1.7%

Earnings growth rate

2.7%

EPS growth rate

Capital Markets earnings growth	8.4%
Revenue growth rate	17.2%
Future return on equity	9.0%
Analyst coverage	Good
Last updated	13 Nov 2024

Recent future growth updates

Recent updates

Daiwa Securities Group (TSE:8601) Will Pay A Dividend Of ¥19.00

Sep 21

Daiwa Securities Group's (TSE:8601) Dividend Will Be ¥19.00

Aug 15

Benign Growth For Daiwa Securities Group Inc. (TSE:8601) Underpins Stock's 34% Plummet

Aug 06

Earnings and Revenue Growth Forecasts

TSE:8601 - Analysts future estimates and past financials data (JPY Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
3/31/2027	1,414,500	140,616	N/A	N/A	2
3/31/2026	1,389,400	132,276	N/A	N/A	2
3/31/2025	1,384,000	128,787	N/A	N/A	1
9/30/2024	805,553	145,837	N/A	N/A	N/A
6/30/2024	773,514	121,838	N/A	N/A	N/A
3/31/2024	1,277,467	121,557	640,629	705,124	N/A
12/31/2023	1,199,323	99,087	N/A	N/A	N/A
9/30/2023	1,096,968	85,925	117,751	210,236	N/A
6/30/2023	985,692	75,709	N/A	N/A	N/A
3/31/2023	866,041	63,875	-264,993	-183,745	N/A
12/31/2022	720,500	64,739	N/A	N/A	N/A
9/30/2022	654,080	76,143	-446,013	-362,347	N/A
6/30/2022	616,207	83,209	N/A	N/A	N/A
3/31/2022	619,439	94,891	-439,054	-353,467	N/A
12/31/2021	638,498	127,509	N/A	N/A	N/A
9/30/2021	623,400	125,795	541,180	600,090	N/A
6/30/2021	597,251	114,404	N/A	N/A	N/A
3/31/2021	575,891	108,396	332,379	390,979	N/A
12/31/2020	569,016	69,044	N/A	N/A	N/A
9/30/2020	588,173	59,767	-509,040	-443,451	N/A
6/30/2020	619,300	61,832	N/A	N/A	N/A
3/31/2020	672,117	60,346	109,217	167,190	N/A
12/31/2019	695,657	62,500	N/A	N/A	N/A
9/30/2019	713,707	60,910	293,755	349,296	N/A
6/30/2019	726,630	61,345	N/A	N/A	N/A
3/31/2019	720,502	63,813	218,127	304,857	N/A
12/31/2018	722,020	86,985	N/A	N/A	N/A
9/30/2018	724,195	95,564	-834,232	-766,494	N/A
6/30/2018	728,114	109,718	N/A	N/A	N/A
3/31/2018	712,601	110,579	N/A	-1,319,248	N/A
12/31/2017	693,358	96,357	N/A	N/A	N/A
9/30/2017	655,678	100,354	N/A	-202,635	N/A
6/30/2017	624,295	98,891	N/A	N/A	N/A
3/31/2017	616,497	104,067	N/A	44,543	N/A
12/31/2016	600,239	103,019	N/A	N/A	N/A
9/30/2016	600,693	102,679	N/A	498,769	N/A
6/30/2016	613,529	96,583	N/A	N/A	N/A
3/31/2016	653,038	116,848	N/A	221,746	N/A
12/31/2015	678,396	134,059	N/A	N/A	N/A
9/30/2015	704,311	146,208	N/A	170,233	N/A
6/30/2015	701,950	158,946	N/A	N/A	N/A
3/31/2015	659,288	148,490	N/A	725,966	N/A
12/31/2014	631,354	143,184	N/A	N/A	N/A
9/30/2014	615,253	148,091	N/A	855,646	N/A
6/30/2014	608,579	146,540	N/A	N/A	N/A
3/31/2014	642,818	169,457	N/A	1,123,594	N/A
12/31/2013	668,122	185,014	N/A	N/A	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 8601's forecast earnings growth (1.7% per year) is above the savings rate (0.3%).

Earnings vs Market: 8601's earnings (1.7% per year) are forecast to grow slower than the JP market (7.9% per year).

High Growth Earnings: 8601's earnings are forecast to grow, but not significantly.

Revenue vs Market: 8601's revenue (17.2% per year) is forecast to grow faster than the JP market (4.2% per year).

High Growth Revenue: 8601's revenue (17.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 8601's Return on Equity is forecast to be low in 3 years time (9%).

Daiwa Securities Group Future Growth

Future criteria checks 2/6

Key information

Recent future growth updates

Price target increased by 11% to JP¥1,203

Price target increased by 9.5% to JP¥1,054

Consensus EPS estimates increase by 18%

Price target increased by 12% to JP¥963

Consensus revenue estimates increase by 23%

Price target increased by 8.2% to JP¥811

Recent updates

Daiwa Securities Group Inc. to Report Q3, 2025 Results on Jan 31, 2025

Second quarter 2025 earnings released: EPS: JP¥38.18 (vs JP¥20.55 in 2Q 2024)

Daiwa Securities Group Inc. Declares Interim Dividends for the First Half of Fiscal Year 2024, Payable on December 2, 2024

Daiwa Securities Group (TSE:8601) Will Pay A Dividend Of ¥19.00

Daiwa Securities Group Inc. to Report Q2, 2025 Results on Oct 29, 2024

Upcoming dividend of JP¥19.00 per share

Daiwa Securities Group's (TSE:8601) Dividend Will Be ¥19.00

Benign Growth For Daiwa Securities Group Inc. (TSE:8601) Underpins Stock's 34% Plummet

First quarter 2025 earnings released: EPS: JP¥17.10 (vs JP¥16.32 in 1Q 2024)

Investor sentiment deteriorates as stock falls 17%

Daiwa Securities Group (TSE:8601) Is Due To Pay A Dividend Of ¥19.00

Daiwa Securities Group (TSE:8601) Will Pay A Dividend Of ¥19.00

Final dividend of JP¥19.00 announced

Daiwa Securities Group Inc. to Report Q1, 2025 Results on Aug 01, 2024

Daiwa Securities Group Inc. to Report Q1, 2025 Results on Aug 01, 2024

Price target increased by 11% to JP¥1,203

Daiwa Securities Group Inc. Announces Amendment of Dividend Payment Policy

Daiwa Securities Group Inc. Approves Year End Dividend for the Year 2023, Payable on May 31, 2024

Full year 2024 earnings: EPS and revenues exceed analyst expectations

Daiwa Securities Group Inc. Approves Year End Dividend for He Year 2023, Payable on May 31, 2024

Daiwa Securities to Pick Up Minority Stake in Ambit's Arm Ambit Finvest

Daiwa Securities to Pick Up Minority Stake in Ambit's Arm Ambit Finvest

Daiwa Securities Group Inc. Announces Executive Changes, Effective 1 April 2024

Upcoming dividend of JP¥18.00 per share

Daiwa Securities Group (TSE:8601) Is Due To Pay A Dividend Of ¥18.00

Price target increased by 9.5% to JP¥1,054

Consensus EPS estimates increase by 18%

Daiwa Securities Group's (TSE:8601) Dividend Will Be ¥18.00

Dividend increased to JP¥18.00

Daiwa Securities Group Inc. to Report Fiscal Year 2024 Results on Apr 25, 2024

Daiwa Securities Group Inc., Annual General Meeting, Jun 21, 2024

Daiwa Securities Group Inc., Annual General Meeting, Jun 21, 2024

Third quarter 2024 earnings released: EPS: JP¥19.76 (vs JP¥10.52 in 3Q 2023)

Price target increased by 12% to JP¥963

Daiwa Securities Group Inc. to Report Q3, 2024 Results on Jan 31, 2024

New minor risk - Profit margin trend

Consensus revenue estimates increase by 23%

Price target increased by 8.2% to JP¥811

Second quarter 2024 earnings released: EPS: JP¥20.55 (vs JP¥13.22 in 2Q 2023)

Daiwa Securities Group Inc. (TSE:8601) announces an Equity Buyback for 35,000,000 shares, representing 2.43% for ¥35,000 million.

Consensus EPS estimates increase by 19%

Daiwa Securities Group Inc. to Report Q2, 2024 Results on Oct 31, 2023

Consensus revenue estimates decrease by 33%, EPS upgraded

Upcoming dividend of JP¥15.00 per share at 2.6% yield

Daiwa Securities Group Inc. Announces Executive Changes, Effective October 1, 2023

Consensus EPS estimates increase by 14%, revenue downgraded

First quarter 2024 earnings: EPS and revenues exceed analyst expectations

Daiwa Securities Group Inc. announced that it has received $0.421839 million in funding

Daiwa Securities Group Inc. to Report Q1, 2024 Results on Jul 31, 2023

Now 20% undervalued

Daiwa Securities Group Inc. agreed to acquire unknown minority stake in Ambit Private Limited.

Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Now 20% undervalued

Third quarter 2023 earnings: EPS and revenues exceed analyst expectations

Now 20% undervalued

Daiwa Securities Group Inc. to Report Q3, 2023 Results on Jan 30, 2023

Daiwa Securities Group Inc. Appoints Toyo Abe as Senior Managing Director Deputy Head of Corporate Planning, Head of Legal, Head of Financial Education, Head of Corporate Planning Dept, Effective December 1, 2022

Second quarter 2023 earnings: EPS and revenues exceed analyst expectations

Daiwa Securities Group Inc. Announces Dividends for the First Half of Fiscal 2022, Payable on December 1, 2022

Daiwa Securities Group Inc. to Report Q2, 2023 Results on Oct 31, 2022

Upcoming dividend of JP¥17.00 per share

Daiwa Securities Group Inc. Announces Organizational Changes

Daiwa Securities Group Inc. Announces Executive Changes

First quarter 2023 earnings released: EPS: JP¥8.01 (vs JP¥15.45 in 1Q 2022)

Daiwa Securities Group Inc. to Report Q1, 2023 Results on Jul 29, 2022

Consensus forecasts updated

Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Daiwa Securities Group Inc. Declares Year-End Dividend for the Year Ended March 31, 2022, Payable on June 6, 2022

Consensus EPS estimates fall by 28%