Daiwa Securities Group Inc.

TSE:8601 Stock Report

Market Cap: JP¥1.6t

Daiwa Securities Group Valuation

Is 8601 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 8601 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 8601 (¥1132.5) is trading above our estimate of fair value (¥1103.84)

Significantly Below Fair Value: 8601 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 8601?

Other financial metrics that can be useful for relative valuation.

8601 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio42.4x

Price to Earnings Ratio vs Peers

How does 8601's PE Ratio compare to its peers?

The above table shows the PE ratio for 8601 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average29x
8473 SBI Holdings
13.1x12.2%JP¥1.1t
8604 Nomura Holdings
15.5x9.7%JP¥2.6t
9552 M&A Research Institute Holdings
63.4x41.3%JP¥269.7b
8628 Matsui Securities
23.7x0.4%JP¥206.8b
8601 Daiwa Securities Group
13.1x0.3%JP¥1.6t

Price-To-Earnings vs Peers: 8601 is good value based on its Price-To-Earnings Ratio (13.1x) compared to the peer average (29x).

Price to Earnings Ratio vs Industry

How does 8601's PE Ratio compare vs other companies in the JP Capital Markets Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a8.2%
 n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a8.2%
 n/an/an/a
No more companies

Price-To-Earnings vs Industry: 8601 is good value based on its Price-To-Earnings Ratio (13.1x) compared to the JP Capital Markets industry average (14.7x).

Price to Earnings Ratio vs Fair Ratio

What is 8601's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

8601 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.1x
Fair PE Ratio16.4x

Price-To-Earnings vs Fair Ratio: 8601 is good value based on its Price-To-Earnings Ratio (13.1x) compared to the estimated Fair Price-To-Earnings Ratio (16.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 8601 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentJP¥1,132.50
JP¥1,088.00
-3.9%
8.3%JP¥1,190.00JP¥950.00n/a4
Apr ’25JP¥1,127.50
JP¥1,074.40
-4.7%
6.7%JP¥1,150.00JP¥950.00n/a5
Mar ’25JP¥1,103.00
JP¥990.80
-10.2%
14.7%JP¥1,150.00JP¥754.00n/a5
Feb ’25JP¥1,018.00
JP¥962.80
-5.4%
17.0%JP¥1,150.00JP¥754.00n/a5
Jan ’25JP¥949.10
JP¥849.00
-10.5%
18.3%JP¥1,140.00JP¥650.00n/a6
Dec ’24JP¥965.40
JP¥857.71
-11.2%
17.0%JP¥1,140.00JP¥650.00n/a7
Nov ’24JP¥947.70
JP¥759.57
-19.9%
11.6%JP¥910.00JP¥650.00n/a7
Oct ’24JP¥863.10
JP¥739.57
-14.3%
12.1%JP¥840.00JP¥580.00n/a7
Sep ’24JP¥835.10
JP¥688.00
-17.6%
12.8%JP¥820.00JP¥580.00n/a7
Aug ’24JP¥791.50
JP¥662.29
-16.3%
12.6%JP¥813.00JP¥550.00n/a7
Jul ’24JP¥740.30
JP¥642.29
-13.2%
12.1%JP¥813.00JP¥550.00n/a7
Jun ’24JP¥635.00
JP¥642.29
+1.1%
12.1%JP¥813.00JP¥550.00n/a7
May ’24JP¥638.00
JP¥622.57
-2.4%
7.5%JP¥665.00JP¥530.00JP¥1,130.507
Apr ’24JP¥621.00
JP¥619.71
-0.2%
10.3%JP¥700.00JP¥520.00JP¥1,127.507
Mar ’24JP¥650.00
JP¥621.14
-4.4%
10.4%JP¥700.00JP¥520.00JP¥1,103.007
Feb ’24JP¥607.00
JP¥601.00
-1.0%
9.5%JP¥665.00JP¥520.00JP¥1,018.008
Jan ’24JP¥583.00
JP¥589.13
+1.1%
8.9%JP¥660.00JP¥520.00JP¥949.108
Dec ’23JP¥610.00
JP¥612.56
+0.4%
13.8%JP¥810.00JP¥520.00JP¥965.409
Nov ’23JP¥589.00
JP¥611.44
+3.8%
13.5%JP¥810.00JP¥520.00JP¥947.709
Oct ’23JP¥566.40
JP¥628.11
+10.9%
11.7%JP¥810.00JP¥540.00JP¥863.109
Sep ’23JP¥602.10
JP¥631.44
+4.9%
11.8%JP¥810.00JP¥540.00JP¥835.109
Aug ’23JP¥600.00
JP¥641.44
+6.9%
12.2%JP¥810.00JP¥540.00JP¥791.509
Jul ’23JP¥597.80
JP¥649.56
+8.7%
11.4%JP¥810.00JP¥550.00JP¥740.309
Jun ’23JP¥638.50
JP¥649.56
+1.7%
11.4%JP¥810.00JP¥550.00JP¥635.009
May ’23JP¥636.00
JP¥665.11
+4.6%
11.3%JP¥830.00JP¥556.00JP¥638.009

Analyst Forecast: Target price is lower than the current share price.

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