Detailed financial statements for Sumitomo Mitsui Financial Group, Inc. (SMFG): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year: ten fiscal years free and up to 20 with Premium.
Sumitomo Mitsui Financial Group, Inc., established in Tokyo, Japan, in 2002, is a global financial powerhouse offering a wide array of banking and financial services. Its extensive operations reach across Japan, the Americas, Europe, the Middle East, Asia, and Oceania. The group provides a comprehensive suite of services including commercial banking, leasing, securities trading, consumer finance, and various other specialized financial offerings.
Analysis Summary
Sumitomo Mitsui Financial Group, Inc. reported revenue of 10.82T JPY in the most recent fiscal year, growing at a 5-year CAGR of 24.8%. Net income reached 1.68T JPY, with a 26.8% 5-year CAGR.
Trailing-twelve-month margins: gross margin 55.1%, operating margin 23.5%, net margin 16.3%. Free cash flow grew at -16.8% CAGR over 5 years.
At $23.80 (closing price, October 28, 2026), SMFG trades at a P/E of 14.54 and an ROE of 10.89%. Market capitalisation stands at $92.2B, placing it among large-cap names.
Balance sheet quality for SMFG: current ratio of 2.8, net cash position of 32.17T JPY. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is strong: free cash flow of 7.34T JPY represents 437% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Income Statement (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3.35T JPY | 4.79T JPY | 4.38T JPY | 4.27T JPY | 3.57T JPY | 3.80T JPY | 5.78T JPY | 8.77T JPY | 9.66T JPY | 10.82T JPY |
| Cost of Revenue | -848.34B JPY | 218.96B JPY | 0 | 1.35T JPY | 878.32B JPY | 654.41B JPY | 2.27T JPY | 4.61T JPY | 4.93T JPY | 4.95T JPY |
| Gross Profit | 4.20T JPY | 4.57T JPY | 4.38T JPY | 2.92T JPY | 2.69T JPY | 3.15T JPY | 3.51T JPY | 4.16T JPY | 4.72T JPY | 5.87T JPY |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | 1.75T JPY | 1.96T JPY | 1.84T JPY | 1.59T JPY | 1.59T JPY | 1.65T JPY | 1.79T JPY | 2.28T JPY | 2.40T JPY | 0 |
| Operating Expenses | 1.94T JPY | 2.18T JPY | 2.06T JPY | 2.03T JPY | 2.02T JPY | 2.22T JPY | 2.41T JPY | 2.82T JPY | 3.02T JPY | 3.49T JPY |
| Operating Income | 1.43T JPY | 1.78T JPY | 890.83B JPY | 888.65B JPY | 672.24B JPY | 929.59B JPY | 1.10T JPY | 1.34T JPY | 1.70T JPY | 2.39T JPY |
| EBITDA | 1.28T JPY | 1.42T JPY | 1.42T JPY | 1.12T JPY | 899.42B JPY | 1.17T JPY | 1.37T JPY | 1.64T JPY | 1.98T JPY | 2.68T JPY |
| Interest Expense | 502.34B JPY | 775.55B JPY | 1.16T JPY | 1.18T JPY | 517.82B JPY | 380.00B JPY | 2.06T JPY | 4.33T JPY | 4.59T JPY | 4.78T JPY |
| Pre-tax Income | 880.35B JPY | 1.11T JPY | 1.12T JPY | 888.65B JPY | 672.24B JPY | 929.59B JPY | 1.10T JPY | 1.34T JPY | 1.70T JPY | 2.39T JPY |
| Income Tax | 139.77B JPY | 270.52B JPY | 331.42B JPY | 167.68B JPY | 156.35B JPY | 214.53B JPY | 282.15B JPY | 373.66B JPY | 513.07B JPY | 707.13B JPY |
| Net Income | 635.80B JPY | 734.37B JPY | 726.68B JPY | 703.88B JPY | 512.81B JPY | 706.63B JPY | 805.84B JPY | 962.95B JPY | 1.18T JPY | 1.68T JPY |
| EPS | $170.28 | $171.82 | $171.58 | $168.92 | $123.51 | $170.12 | $194.85 | $239.10 | $301.55 | $262.04 |
| EPS (Diluted) | $170.14 | $171.69 | $171.47 | $168.82 | $123.45 | $170.05 | $194.79 | $239.03 | $301.48 | $262.04 |
| Shares Outstanding (Diluted) | 4,111.0 M | 4,234.5 M | 4,195.6 M | 4,127.8 M | 4,112.6 M | 4,113.9 M | 4,095.7 M | 3,988.2 M | 3,907.4 M | 6,405.4 M |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Revenue | 2.66T JPY | 7.93T JPY | 2.51T JPY | 2.75T JPY |
| Gross Profit | 1.50T JPY | 4.33T JPY | 1.37T JPY | 1.59T JPY |
| Operating Income | 793.90B JPY | 1.90T JPY | 364.07B JPY | 700.62B JPY |
| EBITDA | 793.90B JPY | 1.90T JPY | 364.07B JPY | 700.62B JPY |
| Net Income | 556.61B JPY | 1.39T JPY | 191.66B JPY | 507.97B JPY |
| EPS | $144.69 | $362.51 | $30.36 | $80.73 |
| EPS (Diluted) | $144.67 | $362.51 | $30.36 | $80.73 |
Balance Sheet (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | 47.33T JPY | 53.73T JPY | 57.41T JPY | 61.77T JPY | 72.57T JPY | 74.79T JPY | 75.91T JPY | 78.14T JPY | 75.59T JPY | 74.05T JPY |
| Short-term Investments | 17.90T JPY | 20.12T JPY | 17.51T JPY | 33.05T JPY | 30.98T JPY | 3.72T JPY | 4.50T JPY | 39.80T JPY | 28.18T JPY | 16.77T JPY |
| Receivables | 240.38B JPY | 2.33T JPY | 0 | 219.73B JPY | 236.39B JPY | 228.61B JPY | 226.30B JPY | 207.65B JPY | 231.20B JPY | 6.25T JPY |
| Inventory | 2.16T JPY | 0 | -94.78T JPY | 0 | 0 | -113.12T JPY | -121.20T JPY | 77.96T JPY | 0 | 0 |
| Total Current Assets | 160.91T JPY | 161.10T JPY | 54.88T JPY | 95.10T JPY | 69.66T JPY | 72.19T JPY | 73.21T JPY | 249.49T JPY | 104.00T JPY | 90.83T JPY |
| Property, Plant & Equipment | 2.69T JPY | 3.48T JPY | 1.50T JPY | 1.45T JPY | 1.46T JPY | 1.46T JPY | 1.49T JPY | 1.35T JPY | 1.01T JPY | 1.08T JPY |
| Goodwill | 318.58B JPY | 272.20B JPY | 193.13B JPY | 194.29B JPY | 147.51B JPY | 320.64B JPY | 277.31B JPY | 268.83B JPY | 230.07B JPY | 243.44B JPY |
| Intangible Assets | 627.93B JPY | 593.38B JPY | 576.10B JPY | 559.29B JPY | 591.25B JPY | 578.18B JPY | 620.54B JPY | 707.87B JPY | 787.25B JPY | 912.59B JPY |
| Total Assets | 191.15T JPY | 199.05T JPY | 203.66T JPY | 219.86T JPY | 242.58T JPY | 257.70T JPY | 270.43T JPY | 295.24T JPY | 306.28T JPY | 329.94T JPY |
| Accounts Payable | 0 | 2.38T JPY | 1.35T JPY | 2.35T JPY | 2.32T JPY | 0 | 0 | 0 | 0 | 0 |
| Short-term Debt | 4.40T JPY | 0 | 0 | 18.39T JPY | 3.05T JPY | 3.00T JPY | 21.69T JPY | 5.57T JPY | 32.86T JPY | 32.85T JPY |
| Total Current Liabilities | 7.58T JPY | 5.95T JPY | 1.19T JPY | 160.31T JPY | 6.30T JPY | 1.89T JPY | 4.92T JPY | 190.10T JPY | 231.26T JPY | 32.85T JPY |
| Long-term Debt | 10.00T JPY | 18.74T JPY | 10.37T JPY | 24.83T JPY | 27.31T JPY | 29.13T JPY | 24.46T JPY | 28.69T JPY | 25.44T JPY | 25.81T JPY |
| Total Liabilities | 179.26T JPY | 187.44T JPY | 192.21T JPY | 209.08T JPY | 230.69T JPY | 245.51T JPY | 257.64T JPY | 280.44T JPY | 291.44T JPY | 313.93T JPY |
| Retained Earnings | 4.61T JPY | 5.55T JPY | 5.99T JPY | 6.34T JPY | 6.49T JPY | 6.92T JPY | 7.42T JPY | 7.84T JPY | 8.29T JPY | 8.91T JPY |
| Total Equity | 10.38T JPY | 10.39T JPY | 10.77T JPY | 10.72T JPY | 11.83T JPY | 12.10T JPY | 12.68T JPY | 14.66T JPY | 14.70T JPY | 15.85T JPY |
| Total Debt | 25.50T JPY | 24.72T JPY | 23.57T JPY | 43.60T JPY | 30.36T JPY | 32.12T JPY | 46.16T JPY | 34.26T JPY | 58.30T JPY | 58.66T JPY |
| Net Debt | -39.27T JPY | -49.14T JPY | -31.31T JPY | -51.22T JPY | -73.19T JPY | -42.67T JPY | -29.76T JPY | -83.68T JPY | -45.48T JPY | -32.17T JPY |
| Working Capital | 153.33T JPY | 155.14T JPY | 53.69T JPY | -65.21T JPY | 63.35T JPY | 70.30T JPY | 68.29T JPY | 59.38T JPY | -127.26T JPY | 57.97T JPY |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Cash & Equivalents | 72.60T JPY | 69.26T JPY | 74.05T JPY | 71.03T JPY |
| Total Assets | 305.91T JPY | 316.73T JPY | 329.94T JPY | 325.31T JPY |
| Total Liabilities | 290.60T JPY | 300.95T JPY | 313.93T JPY | 309.17T JPY |
| Total Equity | 15.17T JPY | 15.65T JPY | 15.85T JPY | 15.99T JPY |
| Total Debt | 58.32T JPY | 57.71T JPY | 58.66T JPY | 58.77T JPY |
Cash Flow (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 979.30B JPY | 1.11T JPY | 1.12T JPY | 888.65B JPY | 672.24B JPY | 929.59B JPY | 1.10T JPY | 1.34T JPY | 1.18T JPY | 1.68T JPY |
| Depreciation & Amortization | 304.26B JPY | 306.76B JPY | 294.93B JPY | 226.73B JPY | 227.18B JPY | 241.92B JPY | 267.93B JPY | 293.07B JPY | 280.78B JPY | 291.08B JPY |
| Stock-based Compensation | 204.0M JPY | 295.0M JPY | 304.0M JPY | 316.0M JPY | 383.0M JPY | 1.30B JPY | 1.44B JPY | 0 | 0 | 0 |
| Change in Working Capital | 4.20T JPY | 8.65T JPY | 3.33T JPY | 5.91T JPY | 19.09T JPY | 1.73T JPY | -6.07T JPY | -725.11B JPY | -5.38T JPY | 6.45T JPY |
| Operating Cash Flow | 4.51T JPY | 9.34T JPY | 4.60T JPY | 7.09T JPY | 18.80T JPY | 1.55T JPY | -5.90T JPY | 642.86B JPY | 4.97T JPY | 7.54T JPY |
| Capital Expenditure | -641.11B JPY | -848.64B JPY | -649.54B JPY | -250.84B JPY | -324.71B JPY | -288.19B JPY | -299.13B JPY | -391.88B JPY | -366.96B JPY | -196.27B JPY |
| Acquisitions | -198.56B JPY | -1.01T JPY | 117.52B JPY | 9.66B JPY | -4.30B JPY | -227.32B JPY | -190.26B JPY | 52.26B JPY | 957.0M JPY | 86.07B JPY |
| Stock Repurchased | -100.0M JPY | -142.0M JPY | -70.09B JPY | -100.09B JPY | -61.0M JPY | -74.0M JPY | -138.84B JPY | -211.43B JPY | -251.63B JPY | -265.74B JPY |
| Dividends Paid | -205.08B JPY | -218.57B JPY | -245.59B JPY | -255.77B JPY | -267.12B JPY | -274.06B JPY | -301.60B JPY | -348.01B JPY | -412.12B JPY | -572.64B JPY |
| Free Cash Flow | 3.87T JPY | 8.49T JPY | 3.95T JPY | 6.84T JPY | 18.47T JPY | 1.26T JPY | -6.19T JPY | 250.98B JPY | 4.60T JPY | 7.34T JPY |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Operating Cash Flow | 0 | 0 | 7.54T JPY | 0 |
| Capital Expenditure | 0 | 0 | -196.27B JPY | 0 |
| Free Cash Flow | 0 | 0 | 7.34T JPY | 0 |
| Dividends Paid | 0 | 0 | -572.64B JPY | 0 |
| Stock-based Compensation | 0 | 0 | 0 | 0 |
Growth & Margins (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | +43.0% | -8.6% | -2.3% | -16.5% | +6.6% | +52.0% | +51.6% | +10.2% | +12.1% | |
| Net Income Growth (YoY) | +15.5% | -1.0% | -3.1% | -27.1% | +37.8% | +14.0% | +19.5% | +22.3% | +42.5% | |
| EPS Growth (YoY) | +0.9% | -0.1% | -1.6% | -26.9% | +37.7% | +14.5% | +22.7% | +26.1% | -13.1% | |
| Shares Change (YoY) | +3.0% | -0.9% | -1.6% | -0.4% | +0.0% | -0.4% | -2.6% | -2.0% | +63.9% | |
| FCF Growth (YoY) | +119.3% | -53.5% | +73.2% | +170.2% | -93.2% | -592.7% | +104.1% | +1,733.8% | +59.5% | |
| Gross Margin | 125.3% | 95.4% | 100.0% | 68.4% | 75.4% | 82.8% | 60.7% | 47.4% | 48.9% | 54.3% |
| Operating Margin | 42.7% | 37.2% | 20.4% | 20.8% | 18.8% | 24.4% | 19.0% | 15.3% | 17.6% | 22.1% |
| EBITDA Margin | 38.3% | 29.6% | 32.4% | 26.1% | 25.2% | 30.8% | 23.6% | 18.7% | 20.5% | 24.7% |
| Net Margin | 19.0% | 15.3% | 16.6% | 16.5% | 14.4% | 18.6% | 13.9% | 11.0% | 12.2% | 15.5% |
| FCF Margin | 115.7% | 177.4% | 90.2% | 160.0% | 517.6% | 33.1% | -107.1% | 2.9% | 47.7% | 67.8% |
| Effective Tax Rate | 15.9% | 24.4% | 29.5% | 18.9% | 23.3% | 23.1% | 25.7% | 27.8% | 30.2% | 29.6% |
Per-Share Data (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $942.18 | $2,005.95 | $940.68 | $1,656.26 | $4,491.36 | $305.61 | $-1,512.39 | $62.93 | $1,177.88 | $1,146.34 |
| Dividends Per Share | $49.89 | $51.62 | $58.54 | $61.96 | $64.95 | $66.62 | $73.64 | $87.26 | $105.47 | $89.40 |
| Shares Outstanding (Basic) | 4,107.7 M | 4,231.3 M | 4,192.8 M | 4,125.4 M | 4,110.6 M | 4,112.2 M | 4,094.3 M | 3,987.1 M | 3,907.4 M | 6,404.1 M |
What to look at in Banking companies
- Efficiency Ratio (<=55%) — Operating expenses / revenue. Top banks below 55%.
- ROA (>=1%) — How much they earn per dollar of assets. ROE misleads in banks due to leverage.
- ROTCE (>=12%) — Return on Tangible Common Equity. Strips goodwill and intangibles.
- Equity / Assets (Tier 1 proxy) (>=8%) — Capital ratio proxy. Regulatory Tier 1 is not in our data.
- P/B (1.0-1.5x) — Classic banking metric. <1x can be opportunity or distress.
- Sustainable dividend yield (>=2%, <8%) — EU banks pay 5-7% normally. >8% is distress signal.
Profitability
| Return on Equity | 10.89% |
| Return on Invested Capital | 0.52% |
| Return on Assets | 0.52% |
| Gross Margin | 55.09% |
| Operating Margin | 23.50% |
| Net Margin | 16.30% |
Financial Health
| Debt / Equity | 3.67 |
| Current Ratio | 2.21 |
| Piotroski F-Score | 8 |
| Altman Z-Score | 0.34 |
Key Ratios (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 4.74 | 5.12 | 4.67 | 3.05 | 6.50 | 4.48 | 5.45 | 7.25 | 7.69 | 11.96 |
| P/B | 0.32 | 0.36 | 0.31 | 0.20 | 0.28 | 0.26 | 0.34 | 0.47 | 0.62 | 1.27 |
| P/S | 0.99 | 0.78 | 0.77 | 0.50 | 0.92 | 0.82 | 0.75 | 0.79 | 0.94 | 1.85 |
| Gross Margin | 125.3% | 95.4% | 100.0% | 68.4% | 75.4% | 82.8% | 60.7% | 47.4% | 48.9% | 54.3% |
| Operating Margin | 42.7% | 37.2% | 20.4% | 20.8% | 18.8% | 24.4% | 19.0% | 15.3% | 17.6% | 22.1% |
| Net Margin | 19.0% | 15.3% | 16.6% | 16.5% | 14.4% | 18.6% | 13.9% | 11.0% | 12.2% | 15.5% |
Related companies: JPM · BAC · HSBC · WFC · C · MUFG · UBS · MFG
Explore sector: Financial Services · Banks - Diversified
More sections of SMFG: Overview · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
Discover more: Weekly Radar: the S&P 500 through the Buffett and Lynch methods · Companies that pass the Buffett method today · Companies that pass the Lynch method today · Stocks that pass Graham's defensive investor test today · Investment Academy — learn to analyze stocks