Fact based stock research
Koei Tecmo Holdings (TSE:3635)

JP3283460008

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

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Koei Tecmo Holdings stock research in summary

koeitecmo.co.jp

ANALYSIS: With an Obermatt Combined Rank of 4 (worse than 96% compared with investment alternatives), Koei Tecmo Holdings (Interactive Home Entertainment, Japan) shares have lower financial characteristics compared with similar stocks. Shares of Koei Tecmo Holdings are a good value (attractively priced) with a consolidated Value Rank of 53 (better than 53% of alternatives) but show below-average growth (Growth Rank of 23), and are riskily financed (Safety Rank of 9), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 4, is a sell recommendation based on Koei Tecmo Holdings's financial characteristics. As the company Koei Tecmo Holdings's key financial metrics exhibit good value (Obermatt Value Rank of 53) but low growth (Obermatt Growth Rank of 23) and risky financing practices (Obermatt Safety Rank of 9), it may be a risky investment, because debt in times of crises can make things worse. The good value, better than 53% of comparable companies, may indicate the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity. 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	53
Growth Rank	23
Safety Rank	9
Combined Rank	4

Country	Japan
Industry	Interactive Home Entertainment
Index
Size class	Small

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

Further information

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

Research History: Koei Tecmo Holdings

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	69	58	43	53
GROWTH
GROWTH	51	11	9	23
SAFETY
SAFETY	83	83	9	9
SENTIMENT
SENTIMENT	52	38	21	^new
360° VIEW
360° VIEW	54	78	4	^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 Koei Tecmo Holdings is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	69	58	43	53
GROWTH
GROWTH	51	11	9	23
SAFETY
SAFETY	83	83	9	9
COMBINED
COMBINED	82	82	4	4

Last update of combined financial performance: 4-Jul-2024. Stock analysis on combined financial performance: The higher the rank of Koei Tecmo Holdings the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 53 (better than 53% compared with alternatives), Koei Tecmo Holdings shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Koei Tecmo Holdings. Price-to-Profit (also referred to as price-earnings, P/E) is 62 which means that the stock price compared with what market professionals expect for future profits is lower than for 62% of comparable companies, indicating a good value concerning Koei Tecmo Holdings's profit levels. The same is valid for Price-to-Book Capital (also referred to as market-to-book ratio) with a Price-to-Book Rank of 46, which means that the stock price is lower as regards to invested capital than for 46% of comparable investments. On the other hand, Price-to-Sales is less favorable than 95% of alternatives (only 5% of peers have an even less favorable ratio). The same is valid for dividend yield, which is lower than 16% of comparable companies, making the stock more expensive as regards to the company's expected dividend payouts. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 53, is a buy recommendation based on Koei Tecmo Holdings's stock price compared with the company's operational size and dividend yields. This is a puzzling picture, because it means that profits are high while dividends are low. Since the stock price is low compared with invested capital but high in respect to expected revenues, it means that the company has more invested capital than peers for generating the same amount of revenue. Since profits are higher, it could be a "cash cow" situation (using the classic Boston Consulting BCG matrix naming convention) where the company is on a downward trend, still living from the profits of past products. As the company pays low dividends, it may harbor the opinion that a turnaround is possible, and it rather invests the cash than pay it out to shareholders, thus sealing the company's fate early. Any investment optimism should only be a buy trigger once thorough research is completed. 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 especially important 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)	22	23	5	5
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	72	74	65	62
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	56	46	40	46
DIVIDEND YIELD
DIVIDEND YIELD	89	90	90	84
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	69	58	43	53

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

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 23 (better than 23% compared with alternatives), Koei Tecmo Holdings 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 half of the indicators below and half above average for Koei Tecmo Holdings. Capital Growth has a rank of 50, which means that currently professionals expect the company to grow its invested capital more than 8% of its competitors. Investors welcomed this, visible in the Stock Returns rank of 65 (above 65% of alternative investments). But Sales Growth has only a rank of 18, which means that, currently, professionals expect the company to grow less than 82% of its competitors, and Profit Growth is also low at a rank of 8. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 23, is a sell recommendation for growth and momentum investors. This is an ambiguous picture. Revenue growth and capital growth are strong, but the growth in profit, which seems good, can also be an indication that growth momentum may be negative. The fact that stock returns have been above average doesn't help much, as stock returns are less reliable in showing a company’s future growth potential. Prices may perform well for the simple reason that investors were too pessimistic in the past and are now correcting their opinions and moving the stock price to a more reasonable level. As the growth picture is mixed for Koei Tecmo Holdings, investors may want to look at value and sentiment indicators for a well-rounded picture of this 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 mixed here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	32	19	27	18
PROFIT GROWTH
PROFIT GROWTH	43	23	16	8
CAPITAL GROWTH
CAPITAL GROWTH	37	53	21	50
STOCK RETURNS
STOCK RETURNS	67	15	57	65
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	51	11	9	23

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Koei Tecmo Holdings.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 9 (better than 9% compared with alternatives), the company Koei Tecmo Holdings has much riskier financing practices than comparable other companies, which means that their overall debt burden is significantly above the industry average. This doesn't mean that the business of Koei Tecmo Holdings is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above average for Koei Tecmo Holdings. Leverage is at a rank of 94, meaning the company has a below-average debt-to-equity ratio. It has less debt than 94% of its competitors. Liquidity is also good at a rank of 73, meaning the company generates more profit to service its debt than 73% of its competitors. This indicates that the company is on the safer side when it comes to debt service. But Refinancing is lower at a rank of 28, which means that the portion of the debt that is about to be refinanced is above-average. It has more debt in the refinancing stage than 72% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 9 (worse than 91% compared with alternatives), Koei Tecmo Holdings has a financing structure that is significantly riskier than that of its competitors. The refinancing issues could be a short-term problem, especially if the company has reputation issues. Banks and investors don't like to refinance debt if there are clouds on the horizon. For this reason, investors should look at the refinancing environment for Koei Tecmo Holdings. Does it look safe that debt that is coming due can be covered with new debt? If that is the case, then the financing situation of the company is on the safer side. If not, it may be better to wait until refinancing has been completed and the Refinancing rank is good again. Investors may have a short-term debt challenge with Koei Tecmo Holdings and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	91	23	36	94
REFINANCING
REFINANCING	13	25	13	28
LIQUIDITY
LIQUIDITY	45	45	73	73
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	83	83	9	9

Last update of Safety Rank: 4-Jul-2024. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Koei Tecmo Holdings 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	41	5	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	17	77	^new
PRO HOLDINGS
PRO HOLDINGS	4	72	33	^new
MARKET PULSE
MARKET PULSE	50	39	12	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	52	38	21	^new

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