Latest Ratios: P/E Ratio 15.6x · EV/EBITDA 0.2x · ROE 10.9%. (2000–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $100.1B | $126.5B | $60.4B | $46.9B | $32.8B | $25.8B | $29.8B | $19.8B | $29.5B | $36.0B | $29.8B |
| Enterprise Value | $2.9B | $-15265535912500 | $-17232478688760 | $-43840390474050 | $-46498350408000 | $-42641866884620 | $-42176418555750 | $-18149679043970 | $-33813426171020 | $-28977342903000 | $-21800764474750 |
| P/E Ratio → | 15.62 | 0.08 | 0.05 | 0.05 | 0.04 | 0.04 | 0.06 | 0.03 | 0.04 | 0.05 | 0.04 |
| P/S Ratio | 2.62 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| P/B Ratio | 1.64 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| P/FCF | 2.16 | 0.02 | 0.01 | 0.19 | — | 0.02 | 0.00 | 0.00 | 0.01 | 0.00 | 0.01 |
| P/OCF | 2.10 | 0.02 | 0.01 | 0.07 | — | 0.02 | 0.00 | 0.00 | 0.01 | 0.00 | 0.01 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -2.52 | -3.40 | -9.89 | -12.50 | -12.46 | -13.83 | -5.87 | -10.50 | -7.22 | -7.77 |
| EV / EBITDA | 0.17 | -5.66 | -8.70 | -26.81 | -34.03 | -36.40 | -46.89 | -16.27 | -28.52 | -13.88 | -12.56 |
| EV / EBIT | 0.20 | -6.39 | -10.14 | -32.66 | -42.33 | -45.87 | -62.74 | -20.42 | -30.09 | -26.13 | -22.26 |
| EV / FCF | — | -2.08 | -3.74 | -174.68 | — | -33.92 | -2.28 | -2.65 | -8.57 | -3.41 | -5.63 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 97.1% | 97.1% | 93.2% | 93.8% | 94.3% | 92.0% | 88.2% | 94.5% | 136.0% | 113.9% | 149.5% |
| Operating Margin | 39.5% | 39.5% | 33.6% | 30.3% | 29.5% | 27.2% | 22.0% | 28.7% | 27.7% | 44.4% | 51.0% |
| Net Profit Margin | 27.8% | 27.8% | 23.3% | 21.7% | 21.7% | 20.6% | 16.8% | 22.8% | 22.6% | 18.3% | 22.7% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.9% | 10.9% | 7.9% | 7.0% | 6.4% | 5.9% | 4.5% | 6.3% | 6.3% | 6.2% | 5.7% |
| ROA | 0.5% | 0.5% | 0.4% | 0.3% | 0.3% | 0.3% | 0.2% | 0.3% | 0.4% | 0.4% | 0.3% |
| ROIC | 2.4% | 2.4% | 2.1% | 1.9% | 1.6% | 1.6% | 1.0% | 1.5% | 1.9% | 3.6% | 3.1% |
| ROCE | 1.3% | 1.3% | 1.9% | 0.7% | 0.4% | 0.4% | 0.5% | 0.7% | 0.5% | 0.9% | 0.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.67 | 3.67 | 3.93 | 2.31 | 3.61 | 2.63 | 2.55 | 4.04 | 2.06 | 2.13 | 2.15 |
| Debt / EBITDA | 21.76 | 21.76 | 29.43 | 20.95 | 33.78 | 27.42 | 33.76 | 39.09 | 19.88 | 11.84 | 14.70 |
| Net Debt / Equity | — | -0.96 | -1.17 | -2.97 | -3.64 | -3.50 | -3.55 | -1.68 | -2.96 | -2.50 | -1.84 |
| Net Debt / EBITDA | -5.71 | -5.71 | -8.73 | -26.84 | -34.05 | -36.42 | -46.93 | -16.29 | -28.54 | -13.90 | -12.58 |
| Debt / FCF | — | -2.10 | -3.76 | -174.86 | — | -33.94 | -2.28 | -2.66 | -8.57 | -3.42 | -5.64 |
| Interest Coverage | 0.50 | 0.50 | 0.37 | 0.31 | 0.53 | 2.45 | 1.30 | 0.75 | 0.97 | 1.43 | 1.95 |
Net cash position: cash ($74.05T) exceeds total debt ($58.66T)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.76 | 2.76 | 0.45 | 1.31 | 14.88 | 38.12 | 11.05 | 0.59 | 46.16 | 27.06 | 21.23 |
| Quick Ratio | 2.76 | 2.76 | 0.45 | 1.31 | 14.88 | 38.12 | 11.05 | 0.59 | 46.16 | 27.06 | 21.23 |
| Cash Ratio | 2.25 | 2.25 | 0.33 | 0.41 | 15.43 | 39.49 | 11.51 | 0.39 | 48.28 | 9.02 | 6.24 |
| Asset Turnover | — | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.01 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.2% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Payout Ratio | 34.1% | 34.1% | 35.0% | 36.1% | 37.4% | 38.8% | 52.1% | 36.3% | 33.8% | 29.8% | 32.3% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.4% | 1326.8% | 1950.1% | 2030.8% | 2434.9% | 2712.1% | 1702.8% | 3524.4% | 2439.1% | 2019.9% | 2346.8% |
| FCF Yield | 46.3% | 5804.3% | 7618.9% | 534.7% | — | 4874.1% | 61949.8% | 34577.4% | 13381.0% | 23599.4% | 12995.6% |
| Buyback Yield | 1.7% | 100.0% | 100.0% | 100.0% | 100.0% | 0.3% | 0.2% | 100.0% | 100.0% | 0.4% | 0.3% |
| Total Shareholder Yield | 3.9% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Shares Outstanding | — | $6.4B | $3.9B | $4.0B | $4.1B | $4.1B | $4.1B | $4.1B | $4.2B | $4.2B | $4.1B |
Includes 30+ ratios · 27 years · Updated daily
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Quick answers to the most common questions about buying SMFG stock.
Sumitomo Mitsui Financial Group, Inc.'s current P/E ratio is 15.6x. The historical average is 0.1x. This places it at the 100th percentile of its historical range.
Sumitomo Mitsui Financial Group, Inc.'s current EV/EBITDA is 0.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 4.8x.
Sumitomo Mitsui Financial Group, Inc.'s return on equity (ROE) is 10.9%. The historical average is 6.7%.
Based on historical data, Sumitomo Mitsui Financial Group, Inc. is trading at a P/E of 15.6x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Sumitomo Mitsui Financial Group, Inc.'s current dividend yield is 2.18% with a payout ratio of 34.1%.
Sumitomo Mitsui Financial Group, Inc. has 97.1% gross margin and 39.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Sumitomo Mitsui Financial Group, Inc.'s Debt/EBITDA ratio is 21.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Overseas CRE exposure
Premium P/B Despite Japan Discount
SMFG trades at 1.59x P/B, a premium to domestic peers like MUFG (1.63x) and Mizuho (1.77x), but below global banks, as per recent market data, implying the market still prices in a Japan discount.
The P/B of 1.59x is above the peer average of roughly 1.4x, suggesting investors assign a modest premium for SMFG's efficiency and capital return discipline. However, the forward P/E of 0.09x is distorted by a data anomaly, likely a data error, and should be disregarded. The implied ROTCE from the P/B is around 10-11%, which is consistent with SMFG's reported ROE of 9.0% in 2026Q3, indicating the market is pricing in a stable, but not exceptional, return profile.
ROE Volatility Masks Underlying Strength
SMFG's ROE swung from 0.3% in 2025Q4 to 9.0% in 2026Q3, as per quarterly data, reflecting lumpy securities gains and provisions, but the 2027Q1 ROE of 3.2% suggests a more normalized, albeit moderate, profitability level.
DuPont decomposition shows that ROE is driven by a thin net margin (0.2% NIM) and high leverage (equity/assets of 5%), with non-interest income contributing 28.6% of revenue in 2027Q1. The efficiency ratio of 32.3% in 2027Q1 is strong, indicating good cost control, but the volatility in ROE (from 0.3% to 9.0%) suggests earnings quality is uneven, likely due to mark-to-market on securities and policy shareholdings. Investors should focus on core operating profitability, which appears stable but unspectacular.
NIM Stagnant Despite BOJ Hikes
SMFG's net interest margin has remained at 0.2% for ten consecutive quarters, as reported in financial statements, despite the Bank of Japan's rate hikes, suggesting that deposit beta and asset repricing are offsetting potential spread expansion.
The stagnant NIM indicates that the benefit of higher rates is being absorbed by increased funding costs or competitive pressures on loan yields. The efficiency ratio improved to 32.3% in 2027Q1 from 40.1% in 2026Q4, but this is volatile, with a range of 22.2% to 66.0% over the past ten quarters, reflecting unstable operating leverage. Management's cost discipline is evident, but the lack of NIM traction raises questions about the pace of rate pass-through.
Thin Equity Base Limits Flexibility
SMFG's equity-to-assets ratio has been constant at 5% for ten quarters, as per balance sheet data, indicating a thin capital base relative to its $325.3T asset size, which may constrain capital return capacity.
The stable 5% equity ratio is low compared to global peers, but typical for Japanese megabanks. With a CET1 ratio not disclosed, the equity ratio suggests limited buffer for unexpected losses. The bank's commitment to dividends and buybacks (e.g., $572.6B dividends in 2026Q4) is positive for shareholders, but the thin capital base could limit future increases. Regulatory minimums are likely met, but the margin of safety appears narrow.
Lumpy Provisions Signal Credit Risk
SMFG's loan loss provisions were zero in 2027Q1 and 2026Q4, but spiked to $218.9B in 2026Q3, as per income statement data, indicating a non-linear credit cost pattern that complicates earnings forecasts.
The lumpy provisioning suggests that credit costs are event-driven, possibly tied to specific sectors like overseas commercial real estate. The zero provisions in recent quarters may indicate either improving credit conditions or a delay in recognizing emerging risks. Given the elevated global interest rates and SMFG's exposure to overseas CRE, investors should monitor for potential impairment charges. The current reserve levels appear minimal, which may be inadequate if the CRE downturn deepens.
Efficiency Leader, ROE Laggard
SMFG's efficiency ratio of 32.3% in 2027Q1 is superior to MUFG's and Mizuho's, as per reported figures, but its ROE of 3.2% lags the peer average of ~10%, indicating that cost advantages are not translating into superior returns.
SMFG's cost leadership is evident, but its ROE is significantly below peers like MUFG (10.8%) and Mizuho (12.3%). This gap may be due to a higher proportion of low-yielding domestic assets and a slower pace of rate pass-through. The P/B of 1.59x is in line with MUFG (1.63x) and below Mizuho (1.77x), suggesting the market does not fully reward SMFG's efficiency. The structural gap in ROE may narrow if BOJ rate hikes eventually lift NIM, but the current data suggests SMFG is not yet realizing the benefits.
P/E Misleads on Earnings Quality
The P/E ratio for SMFG is often misapplied due to volatile provisions and securities gains, as per reported data, obscuring core earnings power; investors should use P/B and ROTCE for a clearer valuation picture.
SMFG's P/E of 15.2x appears reasonable, but it is distorted by lumpy items like the $218.9B provision in 2026Q3 and mark-to-market gains on policy shareholdings. The forward P/E of 0.09x is clearly a data error and should be ignored. A more reliable metric is P/B, which at 1.59x reflects the market's view of the franchise. Additionally, ROTCE, which adjusts for intangible assets, would provide a better measure of underlying profitability. Investors should focus on core pre-provision profit and normalized credit costs when assessing SMFG's earnings power.