company background image

Z Holdings TSE:4689 Stock Report

Last Price


Market Cap







06 Aug, 2022


Company Financials +
4689 fundamental analysis
Snowflake Score
Future Growth4/6
Past Performance2/6
Financial Health3/6

4689 Stock Overview

Z Holdings Corporation engages in media and commerce businesses in Japan.

Z Holdings Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Z Holdings
Historical stock prices
Current Share PriceJP¥446.30
52 Week HighJP¥839.60
52 Week LowJP¥376.00
1 Month Change2.83%
3 Month Change-3.11%
1 Year Change-27.85%
3 Year Change54.43%
5 Year Change-10.02%
Change since IPO18,180.45%

Recent News & Updates

Shareholder Returns

4689JP Interactive Media and ServicesJP Market

Return vs Industry: 4689 underperformed the JP Interactive Media and Services industry which returned -25.9% over the past year.

Return vs Market: 4689 underperformed the JP Market which returned -0.1% over the past year.

Price Volatility

Is 4689's price volatile compared to industry and market?
4689 volatility
4689 Average Weekly Movement5.9%
Interactive Media and Services Industry Average Movement6.8%
Market Average Movement3.9%
10% most volatile stocks in JP Market8.1%
10% least volatile stocks in JP Market2.1%

Stable Share Price: 4689 is more volatile than 75% of JP stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: 4689's weekly volatility (6%) has been stable over the past year, but is still higher than 75% of JP stocks.

About the Company

199623,705Takao Ozawa

Z Holdings Corporation engages in media and commerce businesses in Japan. The company focuses on shopping and reuse businesses. It also offers membership, e-commerce, and payment-related services.

Z Holdings Fundamentals Summary

How do Z Holdings's earnings and revenue compare to its market cap?
4689 fundamental statistics
Market CapJP¥3.34t
Earnings (TTM)JP¥75.93b
Revenue (TTM)JP¥1.58t


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
4689 income statement (TTM)
Cost of RevenueJP¥499.70b
Gross ProfitJP¥1.08t
Other ExpensesJP¥1.01t

Last Reported Earnings

Jun 30, 2022

Next Earnings Date


Earnings per share (EPS)10.13
Gross Margin68.47%
Net Profit Margin4.79%
Debt/Equity Ratio60.0%

How did 4689 perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


Is 4689 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 1/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 4689?

Other financial metrics that can be useful for relative valuation.

4689 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/Revenue2.7x
Enterprise Value/EBITDA13.1x
PEG Ratio1.9x

Price to Earnings Ratio vs Peers

How does 4689's PE Ratio compare to its peers?

4689 PE Ratio vs Peers
The above table shows the PE ratio for 4689 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average28x
2379 DIP
2121 mixi
3632 GREE
4689 Z Holdings

Price-To-Earnings vs Peers: 4689 is expensive based on its Price-To-Earnings Ratio (44x) compared to the peer average (28x).

Price to Earnings Ratio vs Industry

How does 4689's PE Ratio compare vs other companies in the JP Interactive Media and Services Industry?

Price-To-Earnings vs Industry: 4689 is expensive based on its Price-To-Earnings Ratio (44x) compared to the JP Interactive Media and Services industry average (27.1x)

Price to Earnings Ratio vs Fair Ratio

What is 4689'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.

4689 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio44x
Fair PE Ratio33.3x

Price-To-Earnings vs Fair Ratio: 4689 is expensive based on its Price-To-Earnings Ratio (44x) compared to the estimated Fair Price-To-Earnings Ratio (33.3x).

Share Price vs Fair Value

What is the Fair Price of 4689 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 4689 (¥446.3) is trading below our estimate of fair value (¥547.06)

Significantly Below Fair Value: 4689 is trading below fair value, but not by a significant amount.

Analyst Price Targets

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

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

Discover undervalued companies

Future Growth

How is Z Holdings forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?

Future Growth Score


Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 4689's forecast earnings growth (23.4% per year) is above the savings rate (0.04%).

Earnings vs Market: 4689's earnings (23.4% per year) are forecast to grow faster than the JP market (8.6% per year).

High Growth Earnings: 4689's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 4689's revenue (7.1% per year) is forecast to grow faster than the JP market (4.4% per year).

High Growth Revenue: 4689's revenue (7.1% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 4689's Return on Equity is forecast to be low in 3 years time (5.7%).

Discover growth companies

Past Performance

How has Z Holdings performed over the past 5 years?

Past Performance Score


Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 4689 has high quality earnings.

Growing Profit Margin: 4689's current net profit margins (4.8%) are lower than last year (5.7%).

Past Earnings Growth Analysis

Earnings Trend: 4689's earnings have declined by 15% per year over the past 5 years.

Accelerating Growth: 4689's earnings growth over the past year (2.6%) exceeds its 5-year average (-15% per year).

Earnings vs Industry: 4689 earnings growth over the past year (2.6%) underperformed the Interactive Media and Services industry 20.8%.

Return on Equity

High ROE: 4689's Return on Equity (3%) is considered low.

Discover strong past performing companies

Financial Health

How is Z Holdings's financial position?

Financial Health Score


Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 4689's short term assets (¥2,569.4B) exceed its short term liabilities (¥518.6B).

Long Term Liabilities: 4689's short term assets (¥2,569.4B) do not cover its long term liabilities (¥3,740.7B).

Debt to Equity History and Analysis

Debt Level: 4689's net debt to equity ratio (20.5%) is considered satisfactory.

Reducing Debt: 4689's debt to equity ratio has increased from 10.6% to 60% over the past 5 years.

Debt Coverage: 4689's debt is not well covered by operating cash flow (13.1%).

Interest Coverage: 4689's interest payments on its debt are well covered by EBIT (42.5x coverage).

Balance Sheet

Discover healthy companies


What is Z Holdings's current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 4689's dividend (1.25%) isn’t notable compared to the bottom 25% of dividend payers in the JP market (1.63%).

High Dividend: 4689's dividend (1.25%) is low compared to the top 25% of dividend payers in the JP market (3.62%).

Stability and Growth of Payments

Stable Dividend: 4689's dividend payments have been volatile in the past 10 years.

Growing Dividend: 4689's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (55.3%), 4689's dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: 4689 is paying a dividend but the company has no free cash flows.

Discover strong dividend paying companies


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Takao Ozawa (50 yo)





Mr. Takao Ozawa serves as Senior Managing Corporate Officer and Director since June 2019 and also its E-Commerce Chief Product Officer at Z Holdings Corporation since April 1, 2022 and serves as its Presid...

CEO Compensation Analysis

Compensation vs Market: Takao's total compensation ($USD1.26M) is about average for companies of similar size in the JP market ($USD1.53M).

Compensation vs Earnings: Takao's compensation has increased by more than 20% in the past year.

Leadership Team

Experienced Management: 4689's management team is considered experienced (4.1 years average tenure).

Board Members

Experienced Board: 4689's board of directors are not considered experienced ( 1.4 years average tenure), which suggests a new board.


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Z Holdings Corporation's employee growth, exchange listings and data sources

Key Information

  • Name: Z Holdings Corporation
  • Ticker: 4689
  • Exchange: TSE
  • Founded: 1996
  • Industry: Interactive Media and Services
  • Sector: Media
  • Implied Market Cap: JP¥3.344t
  • Shares outstanding: 7.49b
  • Website:

Number of Employees


  • Z Holdings Corporation
  • Kioi Tower
  • 1-3 Kioicho
  • Tokyo
  • 102-8282
  • Japan


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/06 00:00
End of Day Share Price2022/08/05 00:00
Annual Earnings2022/03/31

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 here.