Fact based stock research
Japan Exchange Group (TSE:8697)

JP3183200009

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Japan Exchange Group stock research in summary

jpx.co.jp

ANALYSIS: With an Obermatt Combined Rank of 33 (worse than 67% compared with investment alternatives), Japan Exchange Group (Financial Exchanges & Data, Japan) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of Japan Exchange Group are low in value (priced high) with a consolidated Value Rank of 11 (worse than 89% of alternatives) and show below-average growth (Growth Rank of 20) but are safely financed (Safety Rank of 100), which means low debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 33, is a hold recommendation based on Japan Exchange Group's financial characteristics. As the company Japan Exchange Group's critical financial metrics exhibit below-average performance, such as low value (Obermatt Value Rank of 11) and low growth (Obermatt Growth Rank of 20), it is a somewhat questionable stock investment, where the risk of paying too much for the shares is significant, unless the company has an exceptionally bright future. In this case, good financing practices (Obermatt Safety Rank of 100) are a positive sign, because it may allow the company to weather challenging times until the hoped-for cash flows materialize. This may be true for high-tech or biotechnology companies with enough cash to sustain prolonged business development. If they own properties that only provide cash flows in the future, the stock may look excessively expensive and unattractive today. In such cases, the Obermatt Method has limited value, as it is based on facts we can observe today. If the facts lie all in the future, stock investing becomes guesswork, and this should only be a driver in a limited number of investments that account for a small fraction of a safe portfolio. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	11
Growth Rank	20
Safety Rank	100
Combined Rank	33

Country	Japan
Industry	Financial Exchanges & Data
Index	Nikkei 225
Size class	Small

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Japan Exchange Group

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	21	8	13	11
GROWTH
GROWTH	7	83	23	20
SAFETY
SAFETY	100	100	100	100
SENTIMENT
SENTIMENT	30	86	15	^new
360° VIEW
360° VIEW	13	94	18	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Japan Exchange Group is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	21	8	13	11
GROWTH
GROWTH	7	83	23	20
SAFETY
SAFETY	100	100	100	100
COMBINED
COMBINED	27	82	32	33

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Japan Exchange Group the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 11 (worse than 89% compared with alternatives), Japan Exchange Group shares are significantly more expensive than comparable stocks. The Value Rank is based on consolidating four value indicators, with all four indicators below average for Japan Exchange Group. Price-to-Sales is 11 which means that the stock price compared with what market professionals expect for future profits is higher than 89% of comparable companies, indicating a low value concerning Japan Exchange Group's sales levels. Price-to-Book Capital (also referred to as market-to-book ratio) also has a low Price-to-Book Rank of 11, which means that both reliable company size indicators, sales, and invested capital cannot explain the high stock price of Japan Exchange Group. In addition, the two profit-related value indicators, Price-to-Profit (also referred to as price-earnings, P/E) with a low rank of 15 and Dividend Yield, which is lower than 72% of comparable companies, also make the stock more expensive compared with investment alternatives. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 11, is a sell recommendation based on Japan Exchange Group's stock price compared with the company's operational size and dividend yields. How can market participants pay such a high price for Japan Exchange Group? One reason may be that the company is simply too popular. If enough people want a particular stock, its price can exceed reasonable levels. This is often the case for companies offering new and exciting products and everybody wants a piece of the action. Should you pay a lot for a hot stock such as Japan Exchange Group? It's risky, and even if the stock price continues to grow because of popular demand, it may return to more typical lower levels later. And that return can be sudden and quick, making it impossible for retail investors to exit on time. Sometimes, high prices are deserved. This is the case when it is justified to believe that the company will dominate a market with high profit margins. It has happened in the past for many technology companies and indeed for commercially successful pharmaceutical discoveries. Sometimes they last, sometimes, they get eaten alive. Japan Exchange Group may be such a type of stock. That would mean, retail investors should be careful, only considering investing a small part of their wealth in this exciting category and always being ready to lose more than half, if not all of the investment. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	11	7	13	11
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	20	5	13	15
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	26	7	11	11
DIVIDEND YIELD
DIVIDEND YIELD	31	27	24	28
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	21	8	13	11

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Japan Exchange Group; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 20 (better than 20% compared with alternatives), Japan Exchange Group shows one of the most restricted growth dynamics in its industry. There is little momentum in this company. The Growth Rank is based on consolidating four value indicators, with three out of four indicators below average for Japan Exchange Group. Only Capital Growth has a good rank of 67, which means that currently professionals expect the company to grow its invested capital more than 31% of its competitors. The other three indicators are pointing South: Sales Growth has a rank of 39 which means that currently professionals expect the company to grow less than 61% of its competitors. Profit Growth with a rank of 31 and Stock Returns with a rank of 7 are also low (below 93% of alternative investments). ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 20, is a sell recommendation for growth and momentum investors. The good news from the invested capital side is surprising. A company with disappointing revenues, profits, and disappointed shareholders typically doesn't invest above average. Overall, the growth momentum for Japan Exchange Group is thus negative. As it is intriguing to see that company executives are optimistic about their investment policy, it is worthwhile looking into the details of the capital investment projects. They may indicate future growth and profits and thus if accompanied by a good value, a sign of good timing to invest in the stock. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is limited here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	32	31	45	39
PROFIT GROWTH
PROFIT GROWTH	14	79	30	31
CAPITAL GROWTH
CAPITAL GROWTH	29	59	53	67
STOCK RETURNS
STOCK RETURNS	35	99	21	7
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	7	83	23	20

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Japan Exchange Group.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 100 (better than 100% compared with alternatives) for 2025, the company Japan Exchange Group has safe financing practices, which means that their overall debt burden is low. This doesn't mean that the business of Japan Exchange Group is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, where all three are above average for Japan Exchange Group. Leverage is at 78, meaning the company has a below-average debt-to-equity ratio. It has less debt than 78% of its competitors. Refinancing is at a rank of 100, meaning that the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 100% of its competitors. Finally, Liquidity is also good at a rank of 92, which means that the company generates more profit to service its debt than 92% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 100 (better than 100% compared with alternatives), Japan Exchange Group has a financing structure that is significantly safer than that of its competitors. These three positive financing indicators signal that the company is less likely to default on its debt obligations. However, it also means that its shareholder returns will be more modest if things go well. A low safety means fewer troubles in downtimes and less upside in good times. Investors may not have a debt issue with Japan Exchange Group but they should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	78	78	75	78
REFINANCING
REFINANCING	100	100	100	100
LIQUIDITY
LIQUIDITY	87	92	92	92
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	100	100	100	100

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Japan Exchange Group and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	39	34	^new
OPINIONS CHANGE
OPINIONS CHANGE	13	95	50	^new
PRO HOLDINGS
PRO HOLDINGS	28	72	13	^new
MARKET PULSE
MARKET PULSE	72	50	52	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	30	86	15	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Japan Exchange Group.
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