# Sompo Holdings (8630.JP)

Canonical: https://gigainvestors.com/s/8630.JP

Analysis as of: 2026-10-15T07:11:48.019Z. Financial observations: FY2016–FY2026.

Listing currency: JPY. Reporting currency: JPY.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: JPY 6,754.00 per share; close as of 2026-10-15.

Estimated value: low JPY 4,330.51 per share, central JPY 5,413.14 per share, high JPY 7,217.52 per share. Buy at or below the central value JPY 5,413.14 per share. Valuation as of 2026-10-15T07:11:48.019Z; scenarios are not confidence intervals.

Expected annual return: 9.2% at the stated quote. About 9.2% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; JP 10-year bond 2.9% + 4 points).

## Checklist

### understandable: pass

- Financial history: 10 years

- Profitable years in the last ten: 9

- Required profitable years: 8

- Return on common equity variation (informational): 0.43×

Chart: Net income; fiscal year observations.

- FY2017: JPY 166B

- FY2018: JPY 140B

- FY2019: JPY 147B

- FY2020: JPY 123B

- FY2021: JPY 142B

- FY2022: JPY 225B

- FY2023: JPY 0

- FY2024: JPY 530B

- FY2025: JPY 243B

- FY2026: JPY 640B

### moat: fail

- Common book per share

- Parent-total proxy for preferred equity and common earnings

- Underwriting economics assessed through return on tangible common equity

- median return on common equity below threshold

- Bank / P&C ROTE, median of available years: 10.6%

- Required median return: 12.0%

- Return uses tangible common equity: Yes

- Bank ROTE, second-lowest year: 7.0%

- Years with reported combined ratio: 0

Chart: Return on tangible common equity; fiscal year observations.

- FY2017: 12.5%

- FY2018: 9.4%

- FY2019: 10.8%

- FY2020: 10.3%

- FY2021: 8.9%

- FY2022: 14.1%

- FY2023: 0.0%

- FY2024: 14.8%

- FY2025: 7.0%

- FY2026: 14.7%

### economics: pass

- Common book per share

- Parent-total proxy for preferred equity and common earnings

- Book value per share + reinvested dividends, annualized return: 18.4%

- Book return interval: 10 years

- Starting book value per share: JPY 1K

- Ending book value per share: JPY 6K

Chart: Annual book + dividend return; fiscal year observations.

- FY2017: 13.9%

- FY2018: 9.8%

- FY2019: -1.1%

- FY2020: -4.4%

- FY2021: 32.8%

- FY2022: 6.7%

- FY2023: 50.8%

- FY2024: 49.0%

- FY2025: 7.3%

- FY2026: 34.0%

### management: pass

- Common book per share

- Parent-total proxy for preferred equity and common earnings

- Diluted shares, 10-year annual growth: -2.8%

- Diluted shares, 5-year annual growth: -3.2%

- Share growth excluding flagged crisis recapitalisations: -2.8%

- Five-year share growth excluding flagged crisis recapitalisations: -3.2%

- Flagged crisis recapitalisations: 0

- Book created / earnings retained after dividends and buybacks: 4.91×

- Book value created per share: JPY 4K

- Earnings retained per share after dividends and buybacks: JPY 877.31

Chart: Shares (first year = 100); fiscal year observations.

- FY2016: 100

- FY2017: 98

- FY2018: 96

- FY2019: 92

- FY2020: 91

- FY2021: 89

- FY2022: 86

- FY2023: 86

- FY2024: 82

- FY2025: 80

- FY2026: 75

### accounting: pass

- Financial accounting warning count: 0

- Known restatement years: 0

## Holders

## Price story

The price assumes profits grow 6.8% a year forever · net income +163.3%

Story as of 2026-10-16T10:00:14.771Z; price observation 2026-10-15.

The price assumes profits grow 6.8% a year forever

### Net income · FY2026

net income +163.3%; source https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100YC6Z.pdf; observed 2026-06-17.

- FY2017: JPY 166B 

- FY2018: JPY 140B 

- FY2019: JPY 147B 

- FY2020: JPY 123B 

- FY2021: JPY 142B 

- FY2022: JPY 225B 

- FY2023: JPY 0 

- FY2024: JPY 530B 

- FY2025: JPY 243B 

- FY2026: JPY 640B 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in insurance property & casualty; annual sales are JPY 5.6 trillion.

- Source: https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100YC6Z.pdf (filed 2026-06-17); FY2026: revenue 5601496000000.

### Why customers stay

It earns 10.6% on shareholders’ money, excluding intangible assets.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-17); 10-year return on tangible equity observations [[2017,0.12481856893930245],[2018,0.09415730034412396],[2019,0.10807428236586165],[2020,0.10303933013291708],[2021,0.08926755644771737],[2022,0.140539162035512],[2023,0],[2024,0.1484452007936061],[2025,0.06987611913531708],[2026,0.1474960607712731]]; median 0.10555680624938937. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Paid dividends in 10 of 10 years; bought back JPY 229.3 billion of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-17); Dividend observations: [[2017,31885000000],[2018,40983000000],[2019,45159000000],[2020,51571000000],[2021,55997000000],[2022,68657000000],[2023,79718000000],[2024,92797000000],[2025,103794000000],[2026,140017000000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://eodhd.com/api/fundamentals/ANK.F.json#2026-03-31 (filed 2026-06-17); FY2026: cash repurchases 229290000000 JPY.

### What the price says

The price assumes profits grow 6.8% a year forever.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-17); Price 6754; FX 1; original perpetual distributable cash 216.5257005374176; discount 0.1; growth 0.06794111629591093. Same book-value model and 4× ceiling; no ten-year operating fade applies. Closing-price date 2026-10-15.

## Monthly share-price history (JPY per share)

- 2016-11: JPY 1,242.67 per share

- 2016-12: JPY 1,320.00 per share

- 2017-01: JPY 1,366.00 per share

- 2017-02: JPY 1,399.33 per share

- 2017-03: JPY 1,359.67 per share

- 2017-04: JPY 1,402.00 per share

- 2017-05: JPY 1,424.67 per share

- 2017-06: JPY 1,446.33 per share

- 2017-07: JPY 1,444.00 per share

- 2017-08: JPY 1,378.33 per share

- 2017-09: JPY 1,459.33 per share

- 2017-10: JPY 1,513.00 per share

- 2017-11: JPY 1,510.67 per share

- 2017-12: JPY 1,454.67 per share

- 2018-01: JPY 1,455.33 per share

- 2018-02: JPY 1,381.00 per share

- 2018-03: JPY 1,427.33 per share

- 2018-04: JPY 1,530.00 per share

- 2018-05: JPY 1,577.33 per share

- 2018-06: JPY 1,493.33 per share

- 2018-07: JPY 1,511.33 per share

- 2018-08: JPY 1,581.33 per share

- 2018-09: JPY 1,613.00 per share

- 2018-10: JPY 1,560.00 per share

- 2018-11: JPY 1,462.00 per share

- 2018-12: JPY 1,244.00 per share

- 2019-01: JPY 1,362.00 per share

- 2019-02: JPY 1,385.67 per share

- 2019-03: JPY 1,366.00 per share

- 2019-04: JPY 1,387.00 per share

- 2019-05: JPY 1,370.67 per share

- 2019-06: JPY 1,387.00 per share

- 2019-07: JPY 1,510.67 per share

- 2019-08: JPY 1,414.67 per share

- 2019-09: JPY 1,505.67 per share

- 2019-10: JPY 1,424.67 per share

- 2019-11: JPY 1,438.67 per share

- 2019-12: JPY 1,433.33 per share

- 2020-01: JPY 1,377.67 per share

- 2020-02: JPY 1,338.67 per share

- 2020-03: JPY 1,114.33 per share

- 2020-04: JPY 1,166.67 per share

- 2020-05: JPY 1,277.33 per share

- 2020-06: JPY 1,235.67 per share

- 2020-07: JPY 1,151.67 per share

- 2020-08: JPY 1,326.67 per share

- 2020-09: JPY 1,209.67 per share

- 2020-10: JPY 1,297.00 per share

- 2020-11: JPY 1,336.67 per share

- 2020-12: JPY 1,391.00 per share

- 2021-01: JPY 1,389.00 per share

- 2021-02: JPY 1,360.00 per share

- 2021-03: JPY 1,414.00 per share

- 2021-04: JPY 1,353.33 per share

- 2021-05: JPY 1,468.00 per share

- 2021-06: JPY 1,368.67 per share

- 2021-07: JPY 1,510.00 per share

- 2021-08: JPY 1,609.33 per share

- 2021-09: JPY 1,627.00 per share

- 2021-10: JPY 1,649.33 per share

- 2021-11: JPY 1,558.00 per share

- 2021-12: JPY 1,619.67 per share

- 2022-01: JPY 1,784.67 per share

- 2022-02: JPY 1,673.33 per share

- 2022-03: JPY 1,793.67 per share

- 2022-04: JPY 1,761.67 per share

- 2022-05: JPY 1,949.33 per share

- 2022-06: JPY 1,994.33 per share

- 2022-07: JPY 1,973.33 per share

- 2022-08: JPY 1,991.00 per share

- 2022-09: JPY 1,920.67 per share

- 2022-10: JPY 2,064.33 per share

- 2022-11: JPY 2,019.67 per share

- 2022-12: JPY 1,953.33 per share

- 2023-01: JPY 1,861.67 per share

- 2023-02: JPY 1,946.33 per share

- 2023-03: JPY 1,750.67 per share

- 2023-04: JPY 1,884.33 per share

- 2023-05: JPY 1,896.67 per share

- 2023-06: JPY 2,153.00 per share

- 2023-07: JPY 2,097.00 per share

- 2023-08: JPY 2,115.67 per share

- 2023-09: JPY 2,144.33 per share

- 2023-10: JPY 2,169.00 per share

- 2023-11: JPY 2,252.33 per share

- 2023-12: JPY 2,298.67 per share

- 2024-01: JPY 2,563.67 per share

- 2024-02: JPY 2,927.33 per share

- 2024-03: JPY 3,201.00 per share

- 2024-04: JPY 3,120.00 per share

- 2024-05: JPY 3,325.00 per share

- 2024-06: JPY 3,435.00 per share

- 2024-07: JPY 3,467.00 per share

- 2024-08: JPY 3,430.00 per share

- 2024-09: JPY 3,201.00 per share

- 2024-10: JPY 3,324.00 per share

- 2024-11: JPY 3,946.00 per share

- 2024-12: JPY 4,119.00 per share

- 2025-01: JPY 4,352.00 per share

- 2025-02: JPY 4,425.00 per share

- 2025-03: JPY 4,521.00 per share

- 2025-04: JPY 4,645.00 per share

- 2025-05: JPY 4,387.00 per share

- 2025-06: JPY 4,345.00 per share

- 2025-07: JPY 4,472.00 per share

- 2025-08: JPY 4,757.00 per share

- 2025-09: JPY 4,575.00 per share

- 2025-10: JPY 4,708.00 per share

- 2025-11: JPY 4,953.00 per share

- 2025-12: JPY 5,336.00 per share

- 2026-01: JPY 5,316.00 per share

- 2026-02: JPY 6,245.00 per share

- 2026-03: JPY 6,012.00 per share

- 2026-04: JPY 5,797.00 per share

- 2026-05: JPY 5,958.00 per share

- 2026-06: JPY 6,238.00 per share

- 2026-07: JPY 7,113.00 per share

- 2026-08: JPY 6,850.00 per share

- 2026-09: JPY 6,702.00 per share

- 2026-10: JPY 6,694.00 per share

## Annual estimated value (JPY per share)

- FY2018: low JPY 874.01 per share, central JPY 1,092.51 per share, high JPY 1,456.68 per share

- FY2019: low JPY 977.68 per share, central JPY 1,222.10 per share, high JPY 1,629.46 per share

- FY2020: low JPY 930.38 per share, central JPY 1,162.98 per share, high JPY 1,550.63 per share

- FY2021: low JPY 1,145.49 per share, central JPY 1,431.86 per share, high JPY 1,909.14 per share

- FY2022: low JPY 1,315.26 per share, central JPY 1,644.07 per share, high JPY 2,192.10 per share

- FY2023: low JPY 1,798.41 per share, central JPY 2,248.02 per share, high JPY 2,997.35 per share

- FY2024: low JPY 3,229.26 per share, central JPY 4,036.58 per share, high JPY 5,382.11 per share

- FY2025: low JPY 3,220.52 per share, central JPY 4,025.65 per share, high JPY 5,367.54 per share

- FY2026: low JPY 4,330.51 per share, central JPY 5,413.14 per share, high JPY 7,217.52 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original EDINET filing](https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100YC6Z.pdf); period 2026-03-31, filed 2026-06-17.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations