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¥3,470
Market Capi
¥20T
Growth-adj P/E (3-yr hist)i
n/a
Growth-adj P/E (3-yr proj)i
n/a
P/S 27Ei
1.6x
P/S 28Ei
1.6x
EV/EBIT 27Ei
11x
EV/EBIT 28Ei
10x
P/E 27Ei
17x
P/E 28Ei
16x
P/S 27Ei
1.6x
EV/EBIT 27Ei
11x
P/E 27Ei
17x
P/S 28Ei
1.6x
EV/EBIT 28Ei
10x
P/E 28Ei
16x
Revenue
2027E
¥13T
Gross Margini
28%
Hist. CAGRi
2.6%
Proj. CAGRi
1.3%
EBIT
2027E
¥1.6T
Op. Margini
11%
Hist. CAGRi
7.1%
Proj. CAGRi
10.0%
Net profit
2027E
¥1.2T
Net Margini
8.8%
Hist. CAGRi
—
Proj. CAGRi
—
Business Model
Recent Developments
Average Targeti
¥4,687+39%
Consensusi
Buy
23 analysts covering
Net cashi
¥1.6T
Div. Yieldi
0.9%
Buyback Yldi
2.0%
Market Capi
¥20T
P/E 27Ei
17x
Adj. P/E (fwd.)i
—
Revenue 27E
¥13T
Proj. CAGRi
1.3%
Gross Margini
28%
EBIT 27E
¥1.6T
Proj. CAGRi
10.0%
Op. Margini
11%
Net Profit 27E
¥1.2T
Proj. CAGRi
—
Net Margini
8.8%
Average Targeti
¥4,687+39%
Consensusi
Buy
23 analysts covering
Profile
Sony Group Corporation is a Japanese conglomerate operating across entertainment, technology, and imaging. Following the October 2025 spin-off of its Financial Services unit, continuing operations center on five core segments:
Industry
Sony serves a broad consumer base globally, with Japan, the Americas, and Europe as its largest markets. Games & Network Services competes primarily with Microsoft Xbox and Nintendo. Image sensors are sold B2B to major smartphone OEMs — Apple is widely understood to be a major customer — making that segment partially dependent on a concentrated buyer. Music and film revenues rely on licensing, streaming platform payouts, and theatrical performance. The entertainment segments benefit from relatively high barriers to replication, while hardware faces intense commoditization pressure.
Key metrics
Economic moat
Sony's moat is multi-layered. PlayStation's installed base and exclusive game library create strong switching costs — players who have accumulated libraries and friends on the platform face real friction to migrate. The Music segment benefits from a deep back-catalog of owned IP that generates royalties in perpetuity with no incremental cost. In image sensors, Sony's technology lead and TSMC partnership (announced 2026) create meaningful capital and R&D barriers for competitors to close. The Sony brand retains premium pricing power in consumer electronics, particularly in professional audio and camera segments.
Hiroki Totoki
Totoki assumed the CEO role on March 31, 2025, after serving as CFO and COO during a period of major portfolio restructuring. He was the architect of Sony's pivot toward entertainment and IP, overseeing the Financial Services spin-off and the consolidation of the group around PlayStation, Music, and Pictures. His background is in finance and corporate strategy, giving him a capital-allocation orientation that is evident in the shareholder return programs and segment pruning executed under his watch.
Kenichiro Yoshida
Yoshida served as CEO from 2018 to 2025 and transitioned to Chairman as of March 30, 2026. Under his tenure, Sony's market cap roughly tripled, driven by the transformation of PlayStation into a recurring-revenue platform and the recognition of Music and Sensors as standalone valuation anchors. He elevated Totoki through the organization and remains influential on long-term strategic direction.
Lin Tao
Lin Tao has served as Chief Financial Officer since March 31, 2025. She brings international finance and cross-border M&A experience to the role, relevant given Sony's complex multi-segment, multi-currency reporting structure post-SFGI separation. Her appointment reflects Sony's intent to attract global capital market credibility as it repositions toward pure entertainment and technology.
Wendy Becker
Becker became Chairman of the Board on June 23, 2025. She brings extensive independent board experience from European and US corporate governance contexts. Her appointment as an independent Chair signals a governance shift toward greater board oversight separate from executive management — a structure increasingly expected by institutional investors.
P/S Ratioi
EV/EBITi
P/E RatioiP/E values for 2026 were omitted from this chart because negative or above 150x values usually occur around break-even earnings and would distort the scale. The raw values remain in the table below.
Revenue
CAGR (hist. 3-yr)i
0%
CAGR (proj. 2-yr)i
0%
EBIT
CAGR (hist. 3-yr)i
0%
CAGR (proj. 2-yr)i
0%
Net profitNet profit year-over-year growth labels for 2027E are hidden because the prior comparison year is missing, zero, or negative. Growth rates from missing or non-positive bases are not meaningful.
CAGR (hist. 3-yr)i
n/a
CAGR (proj. 3-yr)i
n/a
Values in trillions of JPY.
Operating cashflow · Levered Free Cash Flow
Free Cash FlowFree cash flow year-over-year growth labels for 2022 and 2024 are hidden because the prior comparison year is missing, zero, or negative. Growth rates from missing or non-positive bases are not meaningful.
CAPEX
Values in trillions of JPY.
Margins
Rentability
Balance sheet
Values in trillions of JPY.
Liquidity ratios
Debt-to-Equity-Ratio
Last earnings
Sony reported full-year FY2026 results (fiscal year ended March 31, 2026) on May 8, 2026, with record operating income for its continuing operations, up 13.4% year-over-year, driven by strong performances across entertainment and imaging segments.
The quarter was affected by a one-time charge from the spin-off of the Financial Services (SFGI) unit, completed in October 2025, which weighed on net income and caused reported EPS to miss consensus estimates.
Management's FY2026 operating income guidance, issued alongside results, flagged continued strength in Games & Network Services and Music, while acknowledging foreign exchange headwinds given Sony's heavy yen-cost base facing a stronger yen environment.
Recent developments
On October 2025, Sony completed the spin-off of Sony Financial Group Inc. (SFGI), exiting the insurance and banking businesses and sharpening its focus on entertainment, IP, and imaging. The remaining continuing business now represents roughly 67% of prior consolidated sales.
On March 31, 2026, Sony and TCL Electronics signed definitive agreements for a strategic partnership in home entertainment — a notable shift for a company that had long operated its consumer electronics division independently.
On April 3, 2026, Sony Interactive Entertainment announced an agreement to acquire Cinemersive Labs, a UK-based machine learning and computer vision company, with the team to join SIE's Visual Computing Group to enhance game rendering and gameplay visuals.
On March 3, 2026, Sony Music Entertainment and Sony Pictures Entertainment completed the acquisition of an additional equity stake in Peanuts Holdings LLC, deepening Sony's control of a major entertainment IP portfolio.
Debate & sentiment
Bulls point to Sony's pivot toward high-margin, recurring entertainment revenue: PlayStation Network subscribers, music streaming royalties, and film/TV licensing create durable cash flows that justify a premium over its hardware-era multiple. The SFGI spin-off is seen as a structural catalyst for cleaner conglomerate valuation.
Bears note that hardware cycles remain a key risk — PlayStation console sales are subject to consumer discretionary spending and component availability, while the image sensor business competes directly with Samsung and faces potential demand softness from smartphone unit stagnation.
The stock has underperformed over the past year, and the market appears to be wrestling with whether management's entertainment-first repositioning will translate into meaningfully higher earnings power or simply reorganize existing cash flows with limited net upside.
Consensusi
Buy
Average targeti
¥4,687+39%
Highest targeti
¥5,900+75%
Lowest targeti
¥3,500+4%
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