Fukuoka Financial Group, Inc. FKKFY

FinancialsBanking ServicesJapan

Last close 23.95 USD on Nov 1, 2026, +50.8% year to date

Quant rating

Quant rating A Rank 9 of 304 in Financials

Growth A 9 of 304
Valuation C 131 of 304
Quality B 87 of 304
Revisions A 5 of 304
Momentum B 72 of 304

Wall Street consensus Hold (2.70)Average target 51.48 USD +114.9%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 8.4B
Enterprise value: 25.4B
52-week range: 13.93 – 26.44
3-year range: 10.00 – 26.44
Dividend yield: 2.35%
Beta (5 years): −0.22
Shares outstanding: 191M
Next earnings: Nov 10, 2026

About the company

Fukuoka Financial Group, Inc. is a Japan-based holding company that provides comprehensive financial services centered on banking operations. It engages in banking and other business activities. Banking operations are conducted through the head office and various branches, encompassing deposit-taking, lending, and domestic and foreign exchange services. Other business activities include securities services, credit guarantee services, business revitalization support, credit management and collection, and leasing operations.

Growth and profitability fiscal year ends March 31

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	2,788	2,371	2,040	1,727	1,574	–
Revenue growth	17.6%	16.2%	18.1%	9.7%	−7.1%	10.5%
EPS (basic, normalized)	2.87	2.54	1.58	1.38	2.37	–
EPS growth	12.9%	61.2%	14.2%	−41.8%	9.6%	5.8%
Gross margin	–	–	–	–	–	–
Net margin	19.3%	20.3%	19.8%	13.6%	28.3%	20.3%
ROE	8.5%	7.4%	6.4%	3.4%	5.7%	6.3%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Tier 1 risk-adjusted capital ratio	–
Long-term debt (mil)	18,128
Net debt (mil)	–
Total equity (mil)	6,923
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2026 actual	2,788	+17.6%	9.1x	36.08	−2.8%	0.7x	2.86	+11.4%	8.4x
2027	2,166	−22.3%	11.7x	38.05	+5.4%	0.6x	3.64	+27.0%	6.6x
2028	2,440	+12.6%	10.4x	40.25	+5.8%	0.6x	4.29	+17.9%	5.6x
2029	2,732	+12.0%	9.3x	42.92	+6.6%	0.6x	4.84	+12.9%	4.9x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	2,166	+0.8%	+2.3%	+4.6%	3.64	+3.3%	+7.8%	+11.0%
2028	2,440	+1.9%	+6.5%	+7.0%	4.29	+3.5%	+8.3%	+11.2%
2029	2,732	+2.7%	−9.3%	+4.1%	4.84	+4.7%	+10.1%	+6.4%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	71,168	109,094	153,919	114,279	116,545	79,232	79,245	88,396	219,267	81,481
Sales mean (mil)	–	–	63,757	66,279	63,590	70,378	73,202	68,462	70,519	82,611
Surprise	–	–	+141.4%	+72.4%	+83.3%	+12.6%	+8.3%	+29.1%	+210.9%	−1.4%
EPS reported	−4.83	110.64	96.59	114.01	60.30	120.78	109.72	141.68	79.82	151.92
EPS mean	−2.48	83.08	87.50	93.38	79.08	105.34	109.43	98.75	85.85	118.66
Surprise	−95.0%	+33.2%	+10.4%	+22.1%	−23.7%	+14.7%	+0.3%	+43.5%	−7.0%	+28.0%

Peer comparison Banking Services

Peers in the same industry group, by market capitalization
Company	Market cap	Tier 1 ratio	Net margin	Deposits/loans	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
FKKFY Fukuoka Financial Group, Inc.	8.4B	–	19.3%	1.09x	6.6x	5.6x	0.6x	0.6x
PB Prosperity Bancshares, Inc.	8.6B	15.9%	34.6%	1.33x	12.4x	9.7x	0.9x	0.8x
CBC Central Bancompany, Inc.	8.6B	28.6%	39.4%	1.41x	18.7x	17.6x	2.2x	2.0x
COLB Columbia Banking System Inc	8.5B	11.7%	18.9%	1.15x	10.0x	9.2x	1.1x	1.1x
BKAYY Bank of Ayudhya PCL	8.5B	–	21.5%	1.07x	166.4x	153.4x	12.8x	12.2x
WAL Western Alliance Bancorporation	8.2B	12.0%	20.4%	1.33x	8.5x	7.1x	1.1x	0.9x
Mean		17.1%	25.7%	1.23x	37.1x	33.8x	3.1x	2.9x
Median		14.0%	21.0%	1.24x	11.2x	9.4x	1.1x	1.0x

Technical analysis

1M−1.9%
3M−0.6%
1Y+71.9%
3Y+97.2%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Fukuoka Financial Group, Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Interest income	2,788	2,371	2,040	1,727	1,574	1,693
Total interest expense	1,132	872	710	340	84.5	114
Net interest income	1,656	1,499	1,330	1,386	1,490	1,579
Loan loss provision	109	34.0	151	39.9	23.4	10.5
Net interest income after loan loss provision	1,547	1,465	1,178	1,346	1,466	1,569
Non-interest income	1,126	680	780	770	727	787
Non-interest expense	−1,919	−1,453	−1,446	−1,776	−1,575	−1,820
Net income before taxes	754	692	512	341	618	536
Provision for taxes	216	210	107	105	173	133
Minority interest & equity in affiliates	−0.1	−0.7	−0.4	−1.0	−0.3	0.5
Other	0	0	0	0	0	0
Net income before extraordinary items	538	481	404	235	445	403
Extraordinary items	–	–	–	–	–	–
Net income	538	481	404	235	445	403
Basic weighted average shares (mil)	189	189	188	188	190	190
Diluted weighted average shares (mil)	189	189	188	188	190	190
Basic EPS excluding extraordinary items	2.85	2.54	2.15	1.25	2.34	2.12
Basic EPS, normalized	2.87	2.54	1.58	1.38	2.37	2.16

Balance sheet in millions of USD, fiscal years

Balance sheet, Fukuoka Financial Group, Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & due from banks	44,720	47,751	55,845	58,089	64,516	54,978
Other earning assets	34,922	37,787	33,641	30,741	34,687	35,587
Net loans	126,696	125,225	121,223	131,791	135,659	153,055
Property, plant & equipment	1,367	1,430	1,428	1,507	1,670	1,866
Goodwill	–	–	–	–	–	–
Intangibles	234	195	156	135	155	164
Long-term investments	218	163	111	106	74.9	59.4
Other long-term assets	694	710	599	584	521	380
Other assets	2,601	1,895	2,777	2,399	2,500	2,420
Total assets	211,452	215,156	215,780	225,350	239,782	248,510
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	–	–	–	–	–	–
Accrued expenses	–	–	–	–	–	–
Total deposits	137,897	145,520	143,288	157,764	168,363	176,048
Other bearing liabilities	349	400	385	460	393	415
Short-term borrowings	38,002	33,896	22,735	21,294	29,628	37,025
Current portion of long-term debt	7.1	8.6	5.2	6.6	6.9	11.7
Long-term debt	25,524	26,696	40,538	37,302	31,878	24,820
Minority interest	2.7	2.7	9.3	10.1	1.1	0.4
Other liabilities	2,888	2,435	2,076	1,733	1,778	1,528
Total liabilities	204,670	208,959	209,037	218,570	232,048	239,848
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	786	832	825	940	1,026	1,127
Additional paid-in capital	907	960	949	1,064	1,163	1,277
Retained earnings (accumulated deficit)	4,644	4,541	4,178	4,455	4,762	4,907
Treasury stock	−38.5	−37.0	−37.0	−60.8	−20.2	−22.2
Other equity	482	−99.3	828	382	803	1,371
Total equity	6,781	6,197	6,743	6,781	7,734	8,661
Total liabilities & shareholders' equity	211,452	215,156	215,780	225,350	239,782	248,510

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Fukuoka Financial Group, Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	754	692	512	341	618	536
Depreciation, depletion & amortization	88.4	90.7	83.4	90.0	101	111
Deferred taxes	–	–	–	–	–	–
Non-cash items	1,169	1,012	608	441	182	246
Changes in working capital	−3,495	−5,154	9,023	−1,710	16,883	13,035
Cash from operations	−1,483	−3,360	10,227	−838	17,784	13,928
Investing activities
Capital expenditures	−164	−131	−147	−142	−91.9	−94.5
Other investing cash flows	1,443	−4,956	−5,074	165	−2,971	137
Cash from investing	1,279	−5,087	−5,222	23.2	−3,063	42.8
Financing activities
Financing cash flow items	–	0	–	5.8	1.2	0.5
Cash dividends paid	−185	−155	−137	−142	−141	−146
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−3.5	0.3	−0.1	−42.2	−82.3	−0.1
Cash from financing	−188	−154	−137	−179	−222	−146
Foreign exchange effects	0.3	−0.1	0.9	0.5	0.7	0.7
Net change in cash	−393	−8,602	4,869	−993	14,500	13,826
Free cash flow	−1,648	−3,492	10,080	−979	17,692	13,833

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.