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Z Holdings Corp
TSE:4689

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Z Holdings Corp
TSE:4689
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Price: 415.9 JPY -0.6% Market Closed
Market Cap: ¥2.9T

EV/EBITDA

14
Current
0%
More Expensive
vs 3-y average of 13.9

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
14
=
Enterprise Value
¥6T
/
EBITDA
¥453.7B

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
14
=
Enterprise Value
¥6T
/
EBITDA
¥453.7B

Valuation Scenarios

Z Holdings Corp is trading above its 3-year average

If EV/EBITDA returns to its 3-Year Average (13.9), the stock would be worth ¥413.84 (0% downside from current price).

Statistics
Positive Scenarios
1/4
Maximum Downside
-38%
Maximum Upside
+0%
Average Downside
15%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 14 ¥415.9
0%
3-Year Average 13.9 ¥413.84
0%
5-Year Average 14 ¥416.43
+0%
Industry Average 10.8 ¥320.8
-23%
Country Average 8.7 ¥257.65
-38%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
¥6T
/
Jan 2026
¥453.7B
=
14
Current
¥6T
/
Mar 2026
¥514.9B
=
11.7
Forward
¥6T
/
Mar 2027
¥568B
=
10.6
Forward
¥6T
/
Mar 2028
¥619.8B
=
9.7
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
JP
Z Holdings Corp
TSE:4689
2.9T JPY 14 13.6
US
Alphabet Inc
NASDAQ:GOOGL
4.2T USD 26.1 31.5
US
Meta Platforms Inc
NASDAQ:META
1.7T USD 16.5 28.1
CN
Tencent Holdings Ltd
HKEX:700
4.5T HKD 12.6 17
CN
Baidu Inc
NASDAQ:BIDU
45.1B USD 8.3 55.6
NL
Nebius Group NV
NASDAQ:NBIS
37.2B USD -14 764.5 27 898.9
JP
LY Corp
XMUN:YOJ
31.6B EUR 20.4 27.6
CN
Kuaishou Technology
HKEX:1024
190.7B HKD 6.7 8.7
KR
Naver Corp
KRX:035420
32.3T KRW 8.7 16.7
AU
REA Group Ltd
ASX:REA
22.6B AUD 26.3 39.4
NO
Adevinta ASA
OSE:ADE
139.1B NOK 18.3 -74.8
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
JP
Z Holdings Corp
TSE:4689
Average EV/EBITDA: 15.8
14
13%
1.1
US
Alphabet Inc
NASDAQ:GOOGL
26.1
27%
1
US
Meta Platforms Inc
NASDAQ:META
16.5
25%
0.7
CN
Tencent Holdings Ltd
HKEX:700
12.6
14%
0.9
CN
Baidu Inc
NASDAQ:BIDU
8.3
2%
4.2
NL
Nebius Group NV
NASDAQ:NBIS
Negative Multiple: -14 764.5 N/A N/A
JP
L
LY Corp
XMUN:YOJ
20.4
13%
1.6
CN
Kuaishou Technology
HKEX:1024
6.7
28%
0.2
KR
Naver Corp
KRX:035420
8.7
18%
0.5
AU
REA Group Ltd
ASX:REA
26.3
20%
1.3
NO
Adevinta ASA
OSE:ADE
18.3
14%
1.3
P/E Multiple
Earnings Growth PEG
JP
Z Holdings Corp
TSE:4689
Average P/E: 2 813.7
13.6
13%
1
US
Alphabet Inc
NASDAQ:GOOGL
31.5
13%
2.4
US
Meta Platforms Inc
NASDAQ:META
28.1
19%
1.5
CN
Tencent Holdings Ltd
HKEX:700
17
16%
1.1
CN
Baidu Inc
NASDAQ:BIDU
55.6
66%
0.8
NL
Nebius Group NV
NASDAQ:NBIS
27 898.9
59%
472.9
JP
L
LY Corp
XMUN:YOJ
27.6
13%
2.1
CN
Kuaishou Technology
HKEX:1024
8.7
7%
1.2
KR
Naver Corp
KRX:035420
16.7
11%
1.5
AU
REA Group Ltd
ASX:REA
39.4
8%
4.9
NO
Adevinta ASA
OSE:ADE
Negative Multiple: -74.8 N/A N/A

Market Distribution

Higher than 76% of companies in Japan
Percentile
76th
Based on 5 051 companies
76th percentile
14
Low
0.1 — 6.7
Typical Range
6.7 — 12.2
High
12.2 —
Distribution Statistics
Japan
Min 0.1
30th Percentile 6.7
Median 8.7
70th Percentile 12.2
Max 214 699 781.2

Z Holdings Corp
Glance View

Z Holdings Corp., a formidable force in Asia's digital landscape, emerged as a prominent player following the merger of Yahoo Japan and LINE Corporation. This strategic union combined Yahoo Japan's robust e-commerce, internet services, and data analytics with LINE's powerful communication platform and widespread social media influence. The resulting conglomerate harnessed a comprehensive digital ecosystem, capitalizing on the strengths of both entities to create a unique market offering. Through this integration, Z Holdings effectively bridges commerce, media, and communication, ensuring that users remain engaged across multiple touchpoints, thereby enhancing customer experience and loyalty. Financially, Z Holdings leverages its extensive user base to generate revenue through a diversified model. The company earns from advertising, transaction fees, and subscription services. Its advertising revenue streams are bolstered by sophisticated data analytics capabilities, which enable it to offer targeted advertising solutions to businesses. E-commerce operations contribute significantly, with transaction fees stemming from a wide range of online retailers and service providers. Additionally, premium services and in-app purchases on its platforms further solidify its revenue base, positioning Z Holdings as a resilient entity in the fast-paced digital economy. The synergy of its comprehensive digital services ensures that the company remains at the forefront of technological innovation and market adaptability.

Intrinsic Value
657.66 JPY
Undervaluation 37%
Intrinsic Value
Price ¥415.9
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