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SBI HoldingsFRA:ZOF -0.14%78 Degree of Operating Leverage is 2.11 as of Jun. 2026. GuruFocus rates FRA:ZOF with a GF Score™ of 78/100 and a GF Value™ of €15.83 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 74 Diversified Financial Services companies, SBI Holdings ranks worse than 74.32% on this metric.
Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue.
SBI Holdings's Degree of Operating Leverage for the quarter that ended in Jun. 2026 was 2.11. The higher Degree of Operating Leverage, the higher operating risk the company will take.
The industry rank for SBI Holdings's Degree of Operating Leverage or its related term are showing as below:
FRA:ZOF's Degree of Operating Leverage is ranked worse than 74.32% of 74
companies
in the Diversified Financial Services industry
Industry Median: 0.85
vs FRA:ZOF: 2.11
SBI Holdings (FRA:ZOF) Degree of Operating Leverage Explanation
Degree of Operating Leverage (DOL) is a leverage ratio that measures the sensitivity of a company’s operting income, also referred to as Earnings Before Interest and Taxes (EBIT), to fluctuations in its Revenue. DOL is a method used to quantify a company’s operating risk. This risk is related to the company's structure of variable costs and fixed costs. Since the fixed costs do not allow the company to adjust the operating costs, the operating risk rises with a higher fixed-to-variable costs proportion.
A high Degree of Operating Leverage indicates that the company’s fixed costs exceed its variable costs. By increasing the sales, the company can earn more profits. In addition, the company must be able to maintain relatively high sales to cover all fixed costs.
Be Aware
The use of operating leverage varies across different industries and business sectors, and the application of Degree of Operating Leverage (DOL) should be adjusted accordingly.
SBI Holdings Degree of Operating Leverage Related Terms
SBI Holdings Degree of Operating Leverage Historical Data
* Premium members only.
The historical data trend for SBI Holdings's Degree of Operating Leverage can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:ZOF vs FRHC, VOYA: Degree of Operating Leverage Comparison
For the Financial Conglomerates subindustry, SBI Holdings's Degree of Operating Leverage, along with its competitors' market caps and Degree of Operating Leverage data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
SBI Holdings Degree of Operating Leverage vs Diversified Financial Services Industry
For the Diversified Financial Services industry and Financial Services sector, SBI Holdings's Degree of Operating Leverage distribution charts can be found below:
* The bar in red indicates where SBI Holdings's Degree of Operating Leverage falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
** TTM data of EBIT and Revenue was used to calculate Degree of Operating Leverage.
*** Please be aware that the Degree of Operating Leverage calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
What does a Degree of Operating Leverage of 2.11 mean?
SBI Holdings (FRA:ZOF) has a Degree of Operating Leverage of 2.11 as of Jun. 2026. Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. View historical data for SBI Holdings and its competitors. According to the industry distribution chart, SBI Holdings ranks #55 out of 74 companies in the Diversified Financial Services industry, placing it in the top 74.3%.
Is SBI Holdings' Degree of Operating Leverage too high?
SBI Holdings' current Degree of Operating Leverage is 2.11. The Diversified Financial Services industry median Degree of Operating Leverage is 0.85. SBI Holdings' value of 2.11 is 148.2% above this industry median. Based on the distribution chart, SBI Holdings ranks #55 out of 74 companies in the Diversified Financial Services industry, which is below the industry midpoint. Overall, SBI Holdings has a GF Score™ of 78/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does SBI Holdings' Degree of Operating Leverage compare to FRHC and VOYA?
According to the Diversified Financial Services industry distribution chart, SBI Holdings ranks #55 out of 74 companies for Degree of Operating Leverage. This places SBI Holdings in the lower half of its industry. The industry median Degree of Operating Leverage is 0.85. SBI Holdings' value of 2.11 is 148.2% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Degree of Operating Leverage for a Diversified Financial Services company?
The median Degree of Operating Leverage among Diversified Financial Services companies is 0.85, based on 74 companies in the industry. Companies in the top quartile (top 25%) have a Degree of Operating Leverage significantly above this median, while those in the bottom quartile fall well below. However, Degree of Operating Leverage should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SBI Holdings's current Degree of Operating Leverage of 2.11 is 148.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Degree of Operating Leverage mean?
A high Degree of Operating Leverage can signal that a stock is expensive relative to its fundamentals. Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. View historical data for SBI Holdings and its competitors. For the Diversified Financial Services industry, the median Degree of Operating Leverage is 0.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SBI Holdings's current Degree of Operating Leverage is 2.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SBI Holdings stock overvalued right now?
Based on GuruFocus' analysis, SBI Holdings (FRA:ZOF) is currently considered Modestly Overvalued. The stock's GF Value™ is €15.83, compared to a current price of €17.90 — trading 13% above its estimated fair value. The current Degree of Operating Leverage is 2.11 and 148.2% above the Diversified Financial Services industry median of 0.85. SBI Holdings' overall GF Score™ is 78/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Degree of Operating Leverage calculated?
Degree of Operating Leverage is calculated from a company's financial statements. For SBI Holdings (FRA:ZOF), the current Degree of Operating Leverage is 2.11 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is SBI Holdings (FRA:ZOF) Overvalued in 2026?
Based on GuruFocus' analysis, SBI Holdings stock appears to be overvalued.
The current stock price of €17.90 is trading 13% above its estimated GF Value™ of €15.83.
GuruFocus considers SBI Holdings to be Modestly Overvalued.
Key valuation signals for FRA:ZOF:
Degree of Operating Leverage: 2.11
GF Value™: €15.83 vs. price of €17.90 (13% above fair value)
Industry Position: 148.2% above the Diversified Financial Services median (#55 of 74)
No single metric tells the full story. See the FRA:ZOF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SBI Holdings Inc is a financial conglomerate that offers a variety of services in securities, banking, and insurance. The company operates through five segments. The Asset Management segment provides investment management, advice, and financial product information. The Crypto Asset segment offers crypto exchange and trading services. The Financial Services segment covers securities, banking, and insurance activities in Japan and abroad. The Investment segment invests in IT, fintech, blockchain, finance, and biotech ventures. The Next Generation Business develops and sells pharmaceuticals, health foods, and cosmetics, conducts R&D in cancer and immunology, offers digital medical solutions, and engages in medical finance. It generates majority of its revenue from Financial services segment.
78GF Score
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Degree of Operating Leverage is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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