Financials Mizuho Financial Group, Inc. Nyse

Equities

MFG

US60687Y1091

Banks

Market Closed - Nyse Other stock markets 01:30:02 25/05/2024 am IST			5-day change	1st Jan Change
4.05 ^USD	+1.25%		-0.25%	+17.73%

22/05	Saudi Arabia, Japanese Firms Sign Over 30 MoUs to Deepen Bilateral Collaboration	MT
17/05	Mizuho Financial Reportedly in Talks to Buy KKR?s Part Stake in InCred Finance	CI

Valuation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	31,34,588	40,53,890	39,71,753	47,59,372	77,21,046	79,71,034	-	-
Enterprise Value (EV) ¹	31,34,588	40,53,890	39,71,753	47,59,372	77,21,046	79,71,034	79,71,034	79,71,034
P/E ratio	6.99 x	8.61 x	7.49 x	8.57 x	11.4 x	10.9 x	10.2 x	9.1 x
Yield	6.07%	4.69%	5.11%	4.53%	3.45%	3.61%	4.02%	4.39%
Capitalization / Revenue	1.52 x	1.84 x	1.76 x	2.09 x	0.88 x	2.84 x	2.87 x	2.67 x
EV / Revenue	1.52 x	1.84 x	1.76 x	2.09 x	0.88 x	2.84 x	2.87 x	2.67 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.37 x	0.44 x	0.44 x	0.52 x	0.75 x	0.77 x	0.75 x	0.71 x
Nbr of stocks (in thousands)	25,36,075	25,35,266	25,34,622	25,34,277	25,34,815	25,34,510	-	-
Reference price ²	1,236	1,599	1,567	1,878	3,046	3,145	3,145	3,145
Announcement Date	15/05/20	14/05/21	13/05/22	15/05/23	15/05/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	20,62,219	21,98,693	22,52,469	22,78,405	87,44,458	28,02,372	27,72,932	29,82,871
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	6,61,982	7,97,731	8,51,259	8,05,296	10,36,888	9,77,396	10,97,184	11,95,193
Operating Margin	32.1%	36.28%	37.79%	35.34%	11.86%	34.88%	39.57%	40.07%
Earnings before Tax (EBT) ¹	6,18,717	6,52,163	6,03,872	7,78,964	9,55,035	10,18,435	11,25,627	12,21,446
Net income ¹	4,48,568	4,71,020	5,30,479	5,55,527	6,78,993	7,25,118	7,82,346	8,66,489
Net margin	21.75%	21.42%	23.55%	24.38%	7.76%	25.88%	28.21%	29.05%
EPS ²	176.8	185.8	209.3	219.2	267.9	289.7	308.9	345.7
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	75.00	75.00	80.00	85.00	105.0	113.6	126.5	138.2
Announcement Date	15/05/20	14/05/21	13/05/22	15/05/23	15/05/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2021 S1	2021 S2	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	15,76,761	6,21,932	11,08,822	5,86,580	5,57,067	5,91,900	5,61,884	-	5,90,116	5,34,505	6,14,200	6,98,720	-	6,85,280	7,05,104	-	6,74,695	6,76,995	7,01,963	7,66,963
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	-	-	4,38,574	2,42,126	1,70,559	2,36,100	2,04,700	-	2,35,425	1,29,096	2,31,000	3,05,060	-	2,81,840	2,18,988	-	2,51,146	2,72,855	2,75,703	2,62,576
Operating Margin	-	-	39.55%	41.28%	30.62%	39.89%	36.43%	-	39.89%	24.15%	37.61%	43.66%	-	41.13%	31.06%	-	37.22%	40.3%	39.28%	34.24%
Earnings before Tax (EBT)	3,33,391	3,18,772	4,46,622	1,08,500	48,750	2,07,355	2,37,702	4,45,057	2,44,904	89,003	3,13,574	-	5,96,323	3,25,077	33,635	-	-	-	-	-
Net income ¹	2,15,523	-	3,85,657	92,943	51,879	1,59,294	1,74,670	3,33,964	2,09,313	12,250	2,45,192	1,70,561	4,15,753	2,26,567	36,673	2,63,240	1,87,770	1,79,627	1,93,551	-
Net margin	13.67%	-	34.78%	15.84%	9.31%	26.91%	31.09%	-	35.47%	2.29%	39.92%	24.41%	-	33.06%	5.2%	-	27.83%	26.53%	27.57%	-
EPS ²	84.99	-	152.1	36.70	20.45	62.85	68.92	131.8	82.59	4.800	96.75	67.28	164.0	89.38	14.47	-	69.56	74.73	75.49	67.57
Dividend per Share	37.50	37.50	40.00	-	40.00	-	-	42.50	-	42.50	-	50.00	50.00	-	-	-	-	-	-	-
Announcement Date	12/11/20	14/05/21	12/11/21	02/02/22	13/05/22	29/07/22	14/11/22	14/11/22	02/02/23	15/05/23	31/07/23	13/11/23	13/11/23	02/02/24	15/05/24	15/05/24	-	-	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	5.1%	5.2%	5.7%	6.1%	7%	7.6%	7.56%	8.18%
ROA (Net income/ Total Assets)	0.31%	0.24%	0.24%	0.32%	0.34%	0.29%	0.32%	0.35%
Assets ¹	14,60,75,290	19,33,26,219	21,91,88,084	17,28,35,231	19,79,39,830	25,22,14,887	24,10,40,894	24,47,70,916
Book Value Per Share ²	3,373	3,651	3,581	3,604	4,037	4,068	4,214	4,440
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	15/05/20	14/05/21	13/05/22	15/05/23	15/05/24	-	-	-

¹JPY in Million²JPY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Mizuho Financial Group, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

3,145 JPY

Average target price

3,269 JPY

Spread / Average Target

+3.95%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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