We transfer coverage of Sumitomo Mitsui Trust Group. First-half fiscal 2027 (ending March) net profit rose 46% year on year on broad-based drivers. SMTG lifted full-year net profit guidance by 11% to JPY 420 billion, dividend guidance by 7% to JPY 51 per share, and added JPY 50 billion in buybacks.
SMTG holding more equities as a proportion of its capital than the three Japanese megabanks means its capital ratios benefit more as they all reduce their holdings significantly.
In a scenario in which Japanese interest rates rise quickly, SMTG has less operational gearing given its higher weighting of fees in the revenue mix.
Metric | 8309 | STT | BNY |
|---|---|---|---|
Price/Earnings (Normalized) | 11.43 | 13.22 | 16.70 |
Price/Book Value | 1.29 | 1.92 | 2.62 |
Price/Sales | 2.76 | 3.16 | 4.91 |
Price/Cash Flow | — | 9.52 | 12.87 |
Metric | 8309 | STT | BNY |
|---|---|---|---|
Quick Ratio | — | — | — |
Current Ratio | — | — | — |
Interest Coverage | — | — | — |
Metric | 8309 | STT | BNY |
|---|---|---|---|
Return on Assets (Normalized) | — | 0.95% | 1.27% |
Return on Equity (Normalized) | — | 15.19% | 16.15% |
Return on Invested Capital (Normalized) | — | — | — |
1-Day Chart | Name | Price | Morningstar Rating for Stocks | Capital Allocation | Economic Moat | Market Cap |
|---|---|---|---|---|---|---|
| Mizuho Financial Group Inc ADR MFG | LOCK|dl^yFk | LOCK|>#y | $123B | |||
| Intesa Sanpaolo ADR ISNPY | LOCK|@t%$gD^ | LOCK|m> | $120B | |||
| BNP Paribas ADR BNPQY | LOCK|%&%J#r | LOCK|BM | $116B | |||
| U.S. Bancorp USB | LOCK|$kMTJ$F | LOCK|?& | $94B | |||
| PNC Financial Services Group Inc PNC | LOCK|vzH>Sg! | LOCK|^Qk$ | $92B | |||
| Itau Unibanco Holding SA ADR ITUB | LOCK|dr#Vm?D | LOCK|HP | $86B | |||
| Lloyds Banking Group PLC ADR LYG | LOCK|mwwr<d | LOCK|^FFc | $74B | |||
| Deutsche Bank AG DB | LOCK|?<q | LOCK|%l | $69B | |||
| NatWest Group PLC ADR NWG | LOCK|#h?rK! | LOCK|&>$Y | $63B | |||
| Truist Financial Corp TFC | LOCK|<@!g>Q# | LOCK|f@ | $60B |
United States