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 | $98.1B | $126.5B | $60.4B | $46.9B | $32.8B | $25.8B | $29.8B | $19.8B | $29.5B | $36.0B | $29.8B |
| Enterprise Value | $3.0B | $-15265535912500 | $-17232478688760 | $-43840390474050 | $-46498350408000 | $-42641866884620 | $-42176418555750 | $-18149679043970 | $-33813426171020 | $-28977342903000 | $-21800764474750 |
| P/E Ratio → | 15.63 | 0.08 | 0.05 | 0.05 | 0.04 | 0.04 | 0.06 | 0.03 | 0.04 | 0.05 | 0.04 |
| P/S Ratio | 1.47 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 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 | 2.11 | 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 | — | -1.41 | -1.78 | -5.00 | -8.04 | -11.21 | -11.82 | -4.25 | -7.73 | -6.05 | -6.51 |
| EV / EBITDA | 0.18 | -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 | 54.3% | 54.3% | 48.9% | 47.4% | 60.7% | 82.8% | 75.4% | 68.4% | 100.0% | 95.4% | 125.3% |
| Operating Margin | 22.1% | 22.1% | 17.6% | 15.3% | 19.0% | 24.4% | 18.8% | 20.8% | 20.4% | 37.2% | 42.7% |
| Net Profit Margin | 15.5% | 15.5% | 12.2% | 11.0% | 13.9% | 18.6% | 14.4% | 16.5% | 16.6% | 15.3% | 19.0% |
| 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 | — | 0.03 | 0.03 | 0.03 | 0.02 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 |
| 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 |
Domestic rate policy sensitivity
According to current market data, SMFG trades at a P/B of 1.54, which appears to reflect a persistent valuation discount relative to global peers, suggesting that investors remain cautious regarding the bank's long-term growth prospects within the maturing and demographically challenged Japanese domestic financial landscape.
The current P/B multiple indicates that the market is not yet pricing SMFG as a premium franchise, likely due to historical ROE volatility and the lingering impact of low-interest-rate environments. Investors should monitor whether the ongoing normalization of Bank of Japan policy can drive a sustained re-rating toward the higher multiples observed in international banking peers.
As reported in recent financial statements, SMFG's ROE has fluctuated significantly, reaching a peak of 9.0% in 2026Q3, which underscores the bank's reliance on volatile NIM and non-interest income components to drive profitability in an environment where asset utilization remains constrained by structural domestic factors.
The decomposition of ROE suggests that profitability is highly sensitive to the bank's ability to expand its NIM while managing non-interest income volatility. The inconsistency in fee income contribution indicates that the bank's core profitability quality may be more cyclical than structural, warranting further investigation into the sustainability of recent margin improvements.
Based on quarterly filings, SMFG's efficiency ratio has demonstrated extreme variance, swinging from a lean 22.2% in 2025Q3 to a strained 66.0% in 2024Q4, which suggests that the bank's operational leverage is currently susceptible to significant swings in non-interest expenses relative to total revenue generation.
The wide range in the efficiency ratio implies that management's cost-leadership model is currently being tested by the integration of digital platforms and shifting revenue streams. Investors should monitor whether the bank can stabilize its cost-to-income ratio as it attempts to migrate legacy systems to more efficient cloud-based architectures.
According to recent balance sheet data, SMFG has maintained a consistent equity-to-assets ratio of approximately 0.05 over the last ten quarters, indicating that management is successfully balancing aggressive asset growth with sufficient capital retention to support its regulatory requirements and progressive dividend policy.
The stability of the equity-to-assets ratio suggests a disciplined approach to capital management, even as the bank expands its securities portfolio. This capital adequacy appears sufficient to support current shareholder return commitments, though it warrants further investigation into how potential divestments of policy shareholdings might impact the overall capital buffer.
The P/E ratio is frequently misapplied to SMFG, as reported in financial analysis, because it fails to account for the significant volatility in loan loss provisions and unrealized gains from policy shareholdings that can artificially inflate or deflate headline earnings across different fiscal periods.
Investors should prioritize P/TBV and ROE over P/E, as these metrics provide a more accurate reflection of the bank's underlying capital efficiency and franchise value. Relying on P/E in a banking context often obscures the impact of cyclical accounting adjustments, leading to potentially flawed conclusions regarding the bank's true earnings power.
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 54.3% gross margin and 22.1% 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.