SBI Holdings (FRA:ZOF) Selling, General, & Admin. Expense: €2,934 Mil (TTM As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:ZOF SBI Holdings Inc FRA:ZOF
73 GF Score
Price €15.11
GF Value €13.87
Valuation Fairly Valued
! 7 Warning Signs
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What is SBI Holdings Selling, General, & Admin. Expense?

SBI Holdings FRA:ZOF +0.50% 73 Selling, General, & Admin. Expense is €2,934 Mil as of Mar. 2026. GuruFocus rates FRA:ZOF with a GF Score™ of 73/100 and a GF Value™ of €13.87 (Fairly Valued). The stock has 7 warning signs investors should review.

Selling, general, & admin. expense (SGA) includes the direct and indirect costs and all general and administrative expenses of a company. SBI Holdings's selling, general, & admin. expense for the three months ended in Mar. 2026 was €766 Mil. Its selling, general, & admin. expense for the trailing twelve months (TTM) ended in Mar. 2026 was €2,934 Mil.


SBI Holdings  (FRA:ZOF) Selling, General, & Admin. Expense Explanation

An efficient operation keeps SGA costs low and thus has higher profit margin. The percentage of SGA relative to total revenue is an indication of how efficiently the company operates. Compare this percentage among the companies in the same industry is a good way of finding more efficient operations. A comparison of the SGA cost relative to the revenue with the historical value can also be an indication of how efficient the company has become.

Warren Buffett likes companies with consistent SGA as the percentage of gross profit.

Companies with no durable competitive advantage show wild variation in SG&A as % of Gross Profit.

If SGA is less than 30% of Gross Profit, it is fantastic. If SGA is nearing 100%, it is is in highly competitive industry.


SBI Holdings Selling, General, & Admin. Expense Related Terms


SBI Holdings Selling, General, & Admin. Expense Historical Data

* Premium members only.

The historical data trend for SBI Holdings's Selling, General, & Admin. Expense 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.

SBI Holdings Selling, General, & Admin. Expense Chart

SBI Holdings Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Selling, General, & Admin. Expense
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,759.94 2,538.58 2,491.67 2,740.79 2,825.72

SBI Holdings Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Selling, General, & Admin. Expense Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2,256.04 726.01 712.75 729.20 766.21

FRA:ZOF vs VOYA, FRHC: Selling, General, & Admin. Expense Comparison

For the Financial Conglomerates subindustry, SBI Holdings's Selling, General, & Admin. Expense, along with its competitors' market caps and Selling, General, & Admin. Expense 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 Selling, General, & Admin. Expense vs Diversified Financial Services Industry

For the Diversified Financial Services industry and Financial Services sector, SBI Holdings's Selling, General, & Admin. Expense distribution charts can be found below:

* The bar in red indicates where SBI Holdings's Selling, General, & Admin. Expense falls into.


FRA:ZOF
73GF Score
SBI Holdings Inc FRA:ZOF
Selling, General, & Admin. Expense is just one metric. See GF Score™, valuation, warning signs, and more.
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SBI Holdings Selling, General, & Admin. Expense Calculation

Selling, General, & Admin. Expense (SGA) includes the direct and indirect costs and all general and administrative expenses of a company. For instance, personnel cost, advertising, rent, communication costs are all part of SGA.

Selling, General, & Admin. Expense for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €2,934 Mil.

* 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.

What does a Selling, General, & Admin. Expense of €2,934 Mil mean?
SBI Holdings (FRA:ZOF) has a Selling, General, & Admin. Expense of €2,934 Mil as of Mar. 2026. Selling, general and admin expense is the total cost for direct, indirect, general and administrative activities. View historical data on SBI Holdings and its competitors.
Is SBI Holdings' Selling, General, & Admin. Expense too high?
SBI Holdings' current Selling, General, & Admin. Expense is €2,934 Mil. Overall, SBI Holdings has a GF Score™ of 73/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does SBI Holdings' Selling, General, & Admin. Expense compare to VOYA and FRHC?
SBI Holdings' Selling, General, & Admin. Expense of €2,934 Mil can be compared against companies in the Diversified Financial Services industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Selling, General, & Admin. Expense for a Diversified Financial Services company?
A good Selling, General, & Admin. Expense depends on the Diversified Financial Services industry context. However, Selling, General, & Admin. Expense should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Selling, General, & Admin. Expense mean?
A high Selling, General, & Admin. Expense can signal that a stock is expensive relative to its fundamentals. Selling, general and admin expense is the total cost for direct, indirect, general and administrative activities. View historical data on SBI Holdings and its competitors. SBI Holdings's current Selling, General, & Admin. Expense is €2,934 Mil. 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 Fairly Valued. The stock's GF Value™ is €13.87, compared to a current price of €15.11 — trading 8.9% above its estimated fair value. The current Selling, General, & Admin. Expense is €2,934 Mil. SBI Holdings' overall GF Score™ is 73/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Selling, General, & Admin. Expense calculated?
Selling, General, & Admin. Expense is calculated from a company's financial statements. For SBI Holdings (FRA:ZOF), the current Selling, General, & Admin. Expense is €2,934 Mil as of Mar. 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 €15.11 is trading 8.9% above its estimated GF Value™ of €13.87. GuruFocus considers SBI Holdings to be Fairly Valued.

Key valuation signals for FRA:ZOF:

  • Selling, General, & Admin. Expense: €2,934 Mil
  • GF Value™: €13.87 vs. price of €15.11 (8.9% above fair value)
  • GF Score™: 73/100 with 7 warning signs

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 Business Description

Address 1-6-1 Roppongi, Minato-ku, Tokyo, JPN, 106-6019
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.
73GF Score

Get the complete analysis for FRA:ZOF

Selling, General, & Admin. Expense is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€15.11
Price
€13.87
GF Value