Sony Group Corp (SONY)

Price$22.99Cached quoteAs of 2026-09-25 09:41 UTC

AI: Fair-priced

Price checkSony looks fairly priced because strong profit growth is already reflected in a demanding valuation.

The observed market value converts to roughly 3,860 yen per ordinary share, using the current exchange rate and Sony’s one-for-one depositary-share ratio. That is about 19 times management’s latest full-year earnings forecast and about 22 times the prior year’s continuing-operation earnings. The supplied history also implies roughly a 7% cash yield using FY2024 operating cash less capital spending. Those signals are respectable, but not cheap enough to call Sony undervalued while current forecasts already assume substantial profit improvement.

Big pictureProfits and cash have grown, but cash generation has been uneven across recent years.

The supplied history shows operating income rising from 845 billion yen in FY2019 to 1.41 trillion yen in FY2024, while net income reached 1.14 trillion yen. Cash left after running and investing in the business, calculated as operating cash flow minus capital spending, was about 1.67 trillion yen in FY2024, but only about 0.75 trillion the prior year and negative in FY2022. Sony therefore has genuine earnings durability, yet its cash record is too variable to justify treating one strong year as a permanent baseline.

Business strengthSony combines durable entertainment income with a much stronger balance sheet after its finance spin-off.

The supplied FY2024 balance sheet had 2.98 trillion yen of cash against 3.91 trillion yen of debt, but financial services made those consolidated figures difficult to interpret. After that business was spun off, Sony reported 2.21 trillion yen of cash versus about 1.67 trillion yen of debt, leaving roughly 539 billion yen of net cash. Capital allocation is also shareholder-friendly: historical buybacks exceeded stock compensation, Sony completed 500 billion yen of repurchases in the following year, and authorized another 500 billion yen program while cancelling treasury shares.

What could change the storyGaming and image sensors can justify today’s price, but both must keep outperforming.

The bull case strengthened when first-quarter operating income jumped 40% and Sony lifted its full-year forecast to 1.72 trillion yen, led by gaming and image sensors. Gaming profit rose 37%, while sensor profit more than doubled. The bear case is that constant-currency sales actually slipped about 1%, gaming hardware volumes are falling, memory costs remain a challenge, and Sony expects mobile-sensor revenue to soften later in the year. At roughly 19 times forecast earnings, meaningful disappointment in those profit assumptions would quickly weaken the valuation case.

AI: News

Profit Forecast RaisedSony lifted its annual profit outlook after gaming and image sensors delivered much stronger first-quarter earnings.

On July 31, Sony reported first-quarter operating income of 476.5 billion yen, up 40%, and raised its full-year operating-income forecast by 120 billion yen to 1.72 trillion yen. Gaming operating income rose 37%, while image-sensor operating income rose 125%. Reuters reported that the shares stabilized after the announcement. The value impact comes from higher expected profits rather than simply stronger sales, although favorable currencies, tariff refunds and other temporary benefits contributed to the improvement.

TSMC Sensor VentureSony committed major capital with TSMC to strengthen its position in advanced smartphone image sensors.

On August 11, Sony and TSMC finalized a roughly 747 billion yen joint venture for next-generation image-sensor manufacturing in Kumamoto. Sony is expected to contribute about 465 billion yen through cash and assets and remain the controlling shareholder, while volume production is targeted for 2029. The project could protect Sony’s technological lead and future sensor capacity, but it also commits substantial capital years before production begins. Returns therefore depend heavily on sustained demand for premium smartphone cameras and disciplined investment pacing.

Buyback and Gaming ResetSony paired cautious hardware expectations with a large buyback and expectations for higher gaming profit.

On May 8, Sony forecast gaming sales to fall about 6% as PlayStation hardware demand weakened, yet projected gaming operating profit to rise roughly 30% because software economics should improve and prior impairment charges will not repeat. It also authorized up to 500 billion yen of share repurchases, equal to as much as 3.89% of shares then outstanding. Reuters reported a modest positive Tokyo-market reaction. The combination supports per-share value, but it assumes software and network profits can offset the mature console cycle.

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Financial statements

	2026	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Revenue	¥12.48T	¥12.96T	¥13.02T	¥10.97T	¥9.92T	¥9.00T	¥8.26T	¥8.67T	¥8.54T	¥7.60T	¥8.11T	¥8.22T	¥7.77T	¥6.80T	¥6.49T	¥7.18T	¥7.21T	¥7.73T	¥8.87T
Gross profit	¥3.84T	¥4.45T	¥4.93T	¥3.80T	¥4.08T	¥3.93T	¥3.51T	¥3.51T	¥3.36T	¥2.85T	¥2.94T	¥2.94T	¥2.63T	¥2.31T	¥2.11T	¥2.35T	¥2.32T	¥2.07T	¥2.58T
Gross margin	30.81%	34.36%	37.87%	34.62%	41.08%	43.63%	42.45%	40.56%	39.28%	37.49%	36.26%	35.79%	33.82%	33.99%	32.44%	32.72%	32.18%	26.77%	29.10%
Research & development	—	¥734.58B	¥742.77B	¥735.70B	¥618.37B	¥525.17B	¥499.29B	¥481.20B	¥458.52B	¥447.46B	¥468.18B	¥464.32B	¥466.03B	¥473.61B	¥433.48B	¥426.81B	¥432.00B	¥497.30B	—
Operating expenses	¥2.29T	¥11.54T	¥11.82T	¥9.70T	¥8.74T	¥8.04T	¥7.42T	¥7.77T	¥7.82T	¥7.32T	¥7.81T	¥8.15T	¥7.73T	¥6.56T	¥2.17T	¥7.00T	¥7.15T	¥7.93T	¥2.11T
Operating income	¥1.55T	¥1.41T	¥1.21T	¥1.30T	¥1.20T	¥971.87B	¥845.46B	¥894.24B	¥734.86B	¥288.70B	¥294.20B	¥68.55B	¥26.50B	¥226.50B	−¥65.66B	¥199.82B	¥31.77B	−¥227.78B	¥475.30B
Operating margin	12.45%	10.86%	9.28%	11.87%	12.12%	10.80%	10.24%	10.32%	8.60%	3.80%	3.63%	0.83%	0.34%	3.33%	−1.01%	2.78%	0.44%	−2.95%	5.36%
EBITDA	¥2.64T	¥2.56T	¥2.35T	¥2.31T	¥2.11T	¥1.36T	¥1.26T	¥1.27T	¥1.10T	¥615.75B	¥691.29B	¥423.17B	¥403.19B	¥603.24B	¥300.61B	¥525.19B	¥402.78B	—	—
EBITDA margin	21.14%	19.76%	18.08%	21.02%	21.23%	15.14%	15.28%	14.64%	12.83%	8.10%	8.53%	5.15%	5.19%	8.88%	4.63%	7.31%	5.58%	—	—
Net income	−¥326.87B	¥1.16T	¥980.49B	¥1.01T	¥888.41B	¥1.17T	¥582.19B	¥916.27B	¥490.79B	¥73.29B	¥147.79B	−¥125.98B	−¥128.37B	¥41.54B	−¥455.04B	−¥259.58B	−¥40.80B	−¥98.94B	¥369.44B
Net profit margin	−2.62%	8.95%	7.53%	9.22%	8.95%	13.02%	7.05%	10.57%	5.74%	0.96%	1.82%	−1.53%	−1.65%	0.61%	−7.01%	−3.61%	−0.57%	−1.28%	4.16%
Basic EPSper basic share	-¥54.70	¥188.71	¥157.66	¥162.71	¥711.84	¥952.29	¥471.64	¥723.41	¥388.32	¥58.07	¥119.40	-¥113.04	-¥124.99	¥41.32	-¥453.42	-¥258.66	-¥40.66	-¥98.59	¥368.33
Diluted EPSper diluted share	-¥54.70	¥187.92	¥157.14	¥161.97	¥705.16	¥936.90	¥461.23	¥707.74	¥379.75	¥56.89	¥117.49	-¥113.04	-¥124.99	¥38.79	-¥453.42	-¥258.66	-¥40.66	-¥98.59	¥351.10

Review official source filings ↗

Owners

Reported shareholders

Reference date Jun 30, 2026

Reported holdings Number of shares

View holders

Top 20 reported holders of SONY
Holder	Shares held
Fisher Asset Management, LLC	112.22M
PRIMECAP MANAGEMENT CO/CA/	59.6M
Aristotle Capital Management, LLC	41.27M
MORGAN STANLEY	23.46M
BANK OF AMERICA CORP /DE/	14.46M
Mondrian Investment Partners LTD	12.27M
BlackRock, Inc.	9.41M
GOLDMAN SACHS GROUP INC	8.78M
Capital International Investors	7.65M
Contrarius Group Holdings Ltd	6.9M
NORTHERN TRUST CORP	6.86M
ROYAL BANK OF CANADA	6.63M
Harding Loevner LP	6.47M
NATIXIS ADVISORS, LLC	5.53M
GABELLI FUNDS LLC	5.03M
Capital World Investors	4.99M
ENVESTNET ASSET MANAGEMENT INC	4.97M
FMR LLC	4.86M
JONES FINANCIAL COMPANIES LLLP	4.76M
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	4.56M

Bars compare reported share counts. A matching total for this share class and reporting period is unavailable, so percentages are not shown.

Source: SEC Form 13F ↗Updated Sep 29, 2026 · Quarterly data

Insider buys & sells

Jul 1, 2024–Jun 30, 2026

Buys0$0.00 disclosed value

Sells (SEC code S)3$10.49M disclosed value

Transaction	Insider	Type	Shares	Price	Value	Owned after
Jun 17, 2026Form 4	Kodera TsuyoshiChief Digital Officer (CDO)	SellCommon Stock	51.0K	$20.54	$1.05M	27.6K
May 18, 2026Form 4	Yoshida KenichiroDirector	SellCommon Stock	400.0K	$22.61	$9.04M	661.6K
May 18, 2026Form 4	Kodera TsuyoshiChief Digital Officer (CDO)	SellCommon Stock	17.5K	$22.61	$395.7K	27.6K

Review ownership filings at SEC.gov ↗

Community posts

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@tickerstat1 month ago
Sony refreshes three headphone tiers and announces a Hello Kitty collection
Sony Electronics announced headphone launches and a limited-edition collaboration on 7 September 2026. Product range and US pricing Model Positioning Suggested US price WH-1000XM4C Refreshed premium noise-cancelling model $299.99 WH-CH730N ...
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Sony Group Corp (SONY)

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Sony refreshes three headphone tiers and announces a Hello Kitty collection