Fact based stock research
Z Holdings (TSE:4689)

JP3933800009

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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.

Z Holdings stock research in summary

z-holdings.co.jp

ANALYSIS: With an Obermatt Combined Rank of 34 (worse than 66% compared with investment alternatives), Z Holdings (Interactive Media & Services, Japan) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of Z Holdings are a good value (attractively priced) with a consolidated Value Rank of 92 (better than 92% of alternatives), are safely financed (Safety Rank of 54, which means low debt burdens), but show below-average growth (Growth Rank of 40). ...read more

RECOMMENDATION: A Combined Rank of 34, is a hold recommendation based on Z Holdings's financial characteristics. As the company Z Holdings's key financial metrics exhibit good value (Obermatt Value Rank of 92) but low growth (Obermatt Growth Rank of 40) while being safely financed (Obermatt Safety Rank of 54), it may be a safer investment because companies with low debt can better withstand times of crises. Yet the good value, better than 92% of comparable companies, may also indicate that 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 and the downside is limited due to below-average financing risks. 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	92
Growth Rank	40
Safety Rank	54
Combined Rank	34

Country	Japan
Industry	Interactive Media & Services
Index	Nikkei 225
Size class	X-Large

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

Further information

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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: Z Holdings

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	65	65	87	92
GROWTH
GROWTH	43	53	61	40
SAFETY
SAFETY	54	54	54	54
SENTIMENT
SENTIMENT	33	86	49	^new
360° VIEW
360° VIEW	43	32	32	^new

Most recent update of the stock research: 26-Jun-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 Z Holdings is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	65	65	87	92
GROWTH
GROWTH	43	53	61	40
SAFETY
SAFETY	54	54	54	54
COMBINED
COMBINED	34	34	34	34

Last update of combined financial performance: 6-Oct-2022. Stock analysis on combined financial performance: The higher the rank of Z Holdings the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 92 (better than 92% compared with alternatives) for 2022, Z Holdings shares are significantly less expensive than comparable stocks. The Value Rank is based on consolidating four value indicators that are all above average for Z Holdings. Price-to-Sales is 76 which means that the stock price compared with what market professionals expect for future sales is lower than for 76% of comparable companies, indicating a good value for Z Holdings's revenue size. The same is valid for expected Price-to-Profits, more favorable than for 75% of alternatives, and this is also true for the Price-to-Book capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 100. Compared with other companies in the same industry, dividend yields of Z Holdings are expected to be higher than for 60% of all competitors (a Dividend Yield rank of 60). ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 92, is a buy recommendation based on Z Holdings's stock price compared with the company's operational size and dividend yields. Since all value metrics are above the industry average, there is no objection to investing in Z Holdings based on its detailed value metrics. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	58	62	73	76
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	42	45	73	75
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	93	97	100	100
DIVIDEND YIELD
DIVIDEND YIELD	68	57	58	60
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	65	65	87	92

Last update of Value Rank: 26-Jun-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Z 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 40 (better than 40% compared with alternatives), Z Holdings shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with three out of four indicators below average for Z Holdings. Sales Growth has a below market rank of 22, which means that, currently, professionals expect the company to grow less than 78% of its competitors. The same is valid for Capital Growth, with a rank of 42, and Profit Growth, with a rank of 42. Currently, professionals expect the company to grow its profits less than 58% of its competitors). Only shareholders are optimistic. Stock Returns are above average at a rank of 66, which means that the stock returns have recently been above 66% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 40, is a hold recommendation for growth and momentum investors. That picture may be the result for a company that has reached the bottom. All went south for Z Holdings, and it still looks bad, but some investors already see light at the end of the tunnel, rewarding the stock with recent above-market stock returns. It could also mean that investors are correcting an overreaction to negative news. If that were the case, the positive stock returns are not yet a sign of recovery. Investors should look closely at the Value and Sentiment indicators before they make a stock purchasing decision, because growth is unlikely to be the driving argument behind this investment. 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 low here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	33	34	38	22
PROFIT GROWTH
PROFIT GROWTH	58	18	63	42
CAPITAL GROWTH
CAPITAL GROWTH	46	72	46	42
STOCK RETURNS
STOCK RETURNS	45	77	57	66
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	43	53	61	40

Last update of Growth Rank: 26-Jun-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Z Holdings.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 54 (better than 54% compared with alternatives), the company Z Holdings has financing practices on the safer side, which mean that their overall debt burden is lower than average. This doesn't mean that the business of Z Holdings 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, with just one indicator above average for Z Holdings. Liquidity is at 58, meaning the company generates more profit to service its debt than 58% of its competitors. This indicates that the company is safer when it comes to debt service. But Refinancing is riskier at a rank of 20, 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 80% of its competitors. Leverage is also high at a rank of 5, which means that the company has an above-average debt-to-equity ratio. It has more debt than 95% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 54 (better than 54% compared with alternatives), Z Holdings has a financing structure that is safer than that of its competitors. High Leverage (a low Obermatt Leverage Rank) is good in good times, because it usually indicates that shareholders get higher returns. The good Liquidity performance of the company is an indicator that this is the case. However, if you expect an economic downturn, you may stay clear of this stock because they have an above-average debt level that needs refinancing soon. If the company is sailing with good winds, as may be visible from the Growth and Sentiment performance, the refinancing risk may be lower than the low Refinancing rank suggests. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	25	20	5	5
REFINANCING
REFINANCING	20	20	20	20
LIQUIDITY
LIQUIDITY	38	49	51	58
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	54	54	54	54

Last update of Safety Rank: 6-Oct-2022. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Z 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	85	49	^new
OPINIONS CHANGE
OPINIONS CHANGE	26	92	50	^new
PRO HOLDINGS
PRO HOLDINGS	69	90	90	^new
MARKET PULSE
MARKET PULSE	29	7	10	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	33	86	49	^new

Last update of Sentiment Rank: 26-Jun-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Z Holdings.
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