Monex Group Future Growth

Future criteria checks 2/6

Monex Group is forecast to grow earnings and revenue by 4.8% and 2.1% per annum respectively. EPS is expected to grow by 6.2% per annum. Return on equity is forecast to be 20% in 3 years.

Key information

4.8%

Earnings growth rate

6.24%

EPS growth rate

Capital Markets earnings growth	-1.2%
Revenue growth rate	2.1%
Future return on equity	20.00%
Analyst coverage	Low
Last updated	18 May 2026

Recent future growth updates

Recent updates

Analysis Article • Nov 04

Monex Group, Inc.'s (TSE:8698) Price Is Right But Growth Is Lacking After Shares Rocket 26%

Monex Group, Inc. ( TSE:8698 ) shareholders have had their patience rewarded with a 26% share price jump in the last...

Analysis Article • Sep 04

Monex Group (TSE:8698) Has Announced A Dividend Of ¥15.00

Monex Group, Inc.'s ( TSE:8698 ) investors are due to receive a payment of ¥15.00 per share on 2nd of December. This...

Analysis Article • Aug 21

Monex Group's (TSE:8698) Dividend Will Be ¥15.00

The board of Monex Group, Inc. ( TSE:8698 ) has announced that it will pay a dividend on the 2nd of December, with...

Analysis Article • Aug 03

Monex Group (TSE:8698) Has Announced A Dividend Of ¥15.00

Monex Group, Inc. ( TSE:8698 ) will pay a dividend of ¥15.00 on the 2nd of December. This will take the annual payment...

Analysis Article • Jul 19

Monex Group's (TSE:8698) Dividend Will Be ¥15.00

Monex Group, Inc.'s ( TSE:8698 ) investors are due to receive a payment of ¥15.00 per share on 2nd of December. This...

Analysis Article • Apr 06

Rainbows and Unicorns: Monex Group, Inc. (TSE:8698) Analysts Just Became A Lot More Optimistic

Celebrations may be in order for Monex Group, Inc. ( TSE:8698 ) shareholders, with the analysts delivering a...

Analysis Article • Mar 17

Monex Group (TSE:8698) Has Announced That It Will Be Increasing Its Dividend To ¥32.00

Monex Group, Inc.'s ( TSE:8698 ) dividend will be increasing from last year's payment of the same period to ¥32.00 on...

Analysis Article • Mar 02

Monex Group (TSE:8698) Is Increasing Its Dividend To ¥32.00

Monex Group, Inc. ( TSE:8698 ) will increase its dividend from last year's comparable payment on the 5th of June to...

Analysis Article • Feb 26

Monex Group, Inc.'s (TSE:8698) Popularity With Investors Is Under Threat From Overpricing

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

Earnings and Revenue Growth Forecasts

TSE:8698 - Analysts future estimates and past financials data (JPY Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
3/31/2029	81,100	12,050	N/A	N/A	2
3/31/2028	79,873	11,388	N/A	N/A	3
3/31/2027	80,100	11,450	N/A	N/A	2
3/31/2026	74,910	10,914	12,832	17,806	N/A
12/31/2025	79,411	8,758	N/A	N/A	N/A
9/30/2025	73,668	-5,386	5,732	10,448	N/A
6/30/2025	72,003	-6,522	N/A	N/A	N/A
3/31/2025	69,947	-5,880	8,730	13,300	N/A
12/31/2024	69,841	6,567	-8,649	-3,681	N/A
9/30/2024	66,223	18,720	13,677	19,258	N/A
6/30/2024	57,892	17,039	-27,825	-21,441	N/A
3/31/2024	61,152	16,981	1,362	8,055	N/A
12/31/2023	63,272	5,246	-1,039	6,084	N/A
9/30/2023	66,899	4,461	9,965	16,910	N/A
6/30/2023	78,962	4,854	-13,819	-6,706	N/A
3/31/2023	76,468	3,392	-38,785	-30,977	N/A
12/31/2022	75,483	2,489	-16,641	-8,713	N/A
9/30/2022	76,460	2,237	-30,123	-22,091	N/A
6/30/2022	78,638	6,709	32,919	40,441	N/A
3/31/2022	86,979	13,017	45,091	51,701	N/A
12/31/2021	98,317	20,268	-42,959	-37,320	N/A
9/30/2021	95,983	23,462	-15,980	-10,656	N/A
6/30/2021	89,136	20,189	-44,414	-39,142	N/A
3/31/2021	76,275	14,354	-63,237	-57,696	N/A
12/31/2020	60,815	7,307	13,046	19,294	N/A
9/30/2020	55,145	4,251	-47,313	-40,682	N/A
6/30/2020	52,642	3,587	11,166	17,840	N/A
3/31/2020	51,315	3,011	28,065	34,454	N/A
12/31/2019	48,610	737	N/A	7,576	N/A
9/30/2019	50,008	1,115	N/A	30,056	N/A
6/30/2019	50,100	834	N/A	62,674	N/A
3/31/2019	50,577	1,181	N/A	53,834	N/A
12/31/2018	53,202	4,765	N/A	27,735	N/A
9/30/2018	53,237	6,461	N/A	10,389	N/A
6/30/2018	53,370	7,485	N/A	-97,913	N/A
3/31/2018	51,848	6,730	N/A	-38,701	N/A
12/31/2017	48,561	4,558	N/A	-29,004	N/A
9/30/2017	46,389	2,414	N/A	22,992	N/A
6/30/2017	44,234	477	N/A	52,663	N/A
3/31/2017	44,034	298	N/A	43,715	N/A
12/31/2016	42,077	755	N/A	60,800	N/A
9/30/2016	43,458	-96	N/A	38,653	N/A
6/30/2016	47,483	2,083	N/A	36,986	N/A
3/31/2016	49,807	3,554	N/A	766	N/A
12/31/2015	50,580	4,813	N/A	25,311	N/A
9/30/2015	51,584	7,346	N/A	-14,007	N/A
6/30/2015	48,701	4,665	N/A	-26,985	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 8698's forecast earnings growth (4.8% per year) is above the savings rate (0.8%).

Earnings vs Market: 8698's earnings (4.8% per year) are forecast to grow slower than the JP market (9.3% per year).

High Growth Earnings: 8698's earnings are forecast to grow, but not significantly.

Revenue vs Market: 8698's revenue (2.1% per year) is forecast to grow slower than the JP market (6% per year).

High Growth Revenue: 8698's revenue (2.1% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 8698's Return on Equity is forecast to be high in 3 years time (20%)

Discover growth companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/06/14 23:20
End of Day Share Price	2026/06/12 00:00
Earnings	2026/03/31
Annual Earnings	2026/03/31

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.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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

Monex Group, Inc. is covered by 8 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
null null	Daiwa Securities Co. Ltd.
Hiroshi Torii	Deutsche Bank
Makarim Salman	Jefferies LLC

Monex Group Future Growth

Future criteria checks 2/6

Key information

Recent future growth updates

Price target decreased by 17% to JP¥885

Price target increased by 36% to JP¥1,200

Consensus EPS estimates fall by 13%, revenue upgraded

Price target decreased by 8.8% to JP¥880

Price target increased by 8.7% to JP¥870

Consensus EPS estimates increase by 13%

Recent updates

Monex Group Sees Revenue Growth and Expands Crypto Business Through KDDI Partnership

Full year 2026 earnings: EPS and revenues exceed analyst expectations

Monex Group, Inc., Annual General Meeting, Jun 27, 2026

Monex Group, Inc. to Report Fiscal Year 2026 Results on May 12, 2026

Upcoming dividend of JP¥15.30 per share

Less than half of directors are independent

Monex Group, Inc. to Report Q3, 2026 Results on Feb 12, 2026

First half dividend of JP¥15.30 announced

New major risk - Dividend sustainability

Monex Group, Inc. (TSE:8698) Not Lagging Industry On Growth Or Pricing

Price target decreased by 17% to JP¥885

Upcoming dividend of JP¥15.20 per share

Monex Group, Inc. to Report Q2, 2026 Results on Nov 07, 2025

Monex Group, Inc. (TSE:8698) acquired an additional 20.60% stake in 3iQ Digital Holdings Inc. for CAD 45.8 million.

First quarter 2026 earnings released: EPS: JP¥7.38 (vs JP¥9.60 in 1Q 2025)

Monex Group's (TSE:8698) Dividend Will Be ¥15.20

Monex Group (TSE:8698) Will Pay A Dividend Of ¥15.20

Final dividend of JP¥15.20 announced

Monex Group, Inc. to Report Q1, 2026 Results on Aug 07, 2025

Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind

Monex Group, Inc., Annual General Meeting, Jun 28, 2025

Monex Group, Inc. (TSE:8698) acquired 20% stake in Westfield Capital Management Company, L.P. for approximately $100 million.

Investor sentiment deteriorates as stock falls 17%

Monex Group's (TSE:8698) Upcoming Dividend Will Be Larger Than Last Year's

Monex Group, Inc. to Report Fiscal Year 2025 Results on May 09, 2025

Upcoming dividend of JP¥25.10 per share

Monex Group, Inc. Announces Board Changes, Effective from April 1, 2025

Monex Group (TSE:8698) Is Increasing Its Dividend To ¥25.10

Monex Group, Inc. Announces Board Changes, Effective April 1, 2025

New major risk - Revenue and earnings growth

New major risk - Share price stability

Price target increased by 36% to JP¥1,200

Monex Group's (TSE:8698) Upcoming Dividend Will Be Larger Than Last Year's

Monex Group, Inc. to Report Q3, 2025 Results on Feb 12, 2025

Investor sentiment improves as stock rises 17%

Monex Group's (TSE:8698) Upcoming Dividend Will Be Larger Than Last Year's

First half dividend of JP¥25.10 announced

Monex Group, Inc. Launches the Open Beta Version of Monex Web3 ID

Investor sentiment improves as stock rises 26%

New minor risk - Share price stability

Monex Group, Inc.'s (TSE:8698) Price Is Right But Growth Is Lacking After Shares Rocket 26%

Monex Group, Inc Announces Special Dividend for the Fiscal Year Ending March 31, 2025, Payable on June 2, 2025

Consensus EPS estimates fall by 13%, revenue upgraded

Price target decreased by 8.8% to JP¥880

Monex Group (TSE:8698) Has Announced A Dividend Of ¥15.00

Monex Group, Inc. to Report Q2, 2025 Results on Oct 28, 2024

Monex Group's (TSE:8698) Dividend Will Be ¥15.00

New minor risk - Share price stability

Investor sentiment deteriorates as stock falls 22%

Monex Group (TSE:8698) Has Announced A Dividend Of ¥15.00

First quarter 2025 earnings released: EPS: JP¥9.60 (vs JP¥9.42 in 1Q 2024)

Monex Group, Inc. (TSE:8698) announces an Equity Buyback for 14,000,000 shares, representing 5.43% for ¥5,000 million.

Monex Group's (TSE:8698) Dividend Will Be ¥15.00

Final dividend of JP¥15.00 announced

Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind

Monex Group, Inc. to Report Q1, 2025 Results on Jul 26, 2024

Monex Group, Inc. Announces Executive Changes

Monex Group, Inc. Announces the Payment of Dividend for the Fiscal Year Ended March 31, 2024, Payable on June 3, 2024

Monex Group, Inc., Annual General Meeting, Jun 22, 2024

Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind

Monex Group, Inc. (TSE:8698) completed the acquisition of unknown majority stake in 3iQ Digital Holdings Inc.

Rainbows and Unicorns: Monex Group, Inc. (TSE:8698) Analysts Just Became A Lot More Optimistic

Price target increased by 8.7% to JP¥870

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

Upcoming dividend of JP¥32.00 per share

Monex Group (TSE:8698) Has Announced That It Will Be Increasing Its Dividend To ¥32.00

Consensus EPS estimates increase by 13%

Monex Group (TSE:8698) Is Increasing Its Dividend To ¥32.00

Dividend of JP¥32.00 announced