Square Enix makes the Final Fantasy and Dragon Quest franchises, along with the Dragon Quest and Final Fantasy mobile and online titles, and it licenses those IPs across games, anime and merchandise. Its moat is the depth of that catalogue: a portfolio of long-running franchises that can be re-released, remastered and ported to new platforms with little incremental development risk, which helps explain the 53.6% gross margin. Reported revenue growth of 32.3% is the number to test, since it needs to be checked against whether it reflects organic demand or a shift in the timing of releases and one-off items. The reported 28.5x trailing P/E against a 10.7x forward P/E implies earnings are expected to rise sharply, a gap that is worth checking against consensus and against the company's release schedule before taking it at face value. A 21.7% operating margin and 11.1% ROE suggest a profitable business that is not yet earning high returns on its equity, which makes the forward earnings assumption the crux of the case.
Plain-English pros, cons, and what to watch. Pro feature.
See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.
Trades are only made public after a delay. We show the delay so you know how old the news is.
Follow the informed money: 13F position changes, insider and Congress trades, and 13D activist filings.
ETFs we cover that hold Square Enix Holdings Co., Ltd. among their largest holdings, by weight.
| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 23 Oct 2026, 01:53 CEST | ACCE price target | ¥3395 | first publication | ¥3027 |
Answered from Square Enix Holdings Co., Ltd. fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| 9684.T Square Enix Holdings Co., Ltd. | ¥2978.00 | - | - | 28.7x | 11.1% | 68 | 78 |
| 6460.T Sega Sammy Holdings Inc. | ¥3359.00 | - | - | - | -0.1% | 39 | 72 |
| 9697.T Capcom Co., Ltd. | ¥4300.00 | - | - | 27.7x | - | 93 | 79 |
| 3635.T Koei Tecmo Holdings Co., Ltd. | ¥1658.00 | - | - | 11.3x | 20.6% | 95 | 79 |
| 3659.T NEXON Co., Ltd. | ¥2773.00 | - | - | 16.4x | 12.5% | 90 | 67 |
| 9766.T Konami Group Corporation | ¥24500.00 | - | - | 21.0x | 21.2% | 91 | 80 |
| EMBRAC-B.ST Embracer Group AB (publ) | kr 90.40 | - | - | - | -25.6% | 47 | 65 |
Where 9684.T ranks against its sector peers on each metric.