Kioxia Holdings

285A.T

Hardware, Equipment & Parts · Technology

Price

¥52110.00

-10000.00 (-16.10%)

Market Cap

¥28.52T

Exchange

Tokyo Stock Exchange

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Share count rising — dilution

+1.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 539.1M (2022) → 549.5M (2026)

Kioxia Holdings is a Japanese company that makes NAND flash memory chips — the type of storage used in smartphones, laptops, USB drives, and data center servers. It sells these chips to major electronics manufacturers and cloud computing companies around the world. Kioxia was formerly part of Toshiba and is one of the largest NAND flash memory producers globally, competing with Samsung, SK Hynix, and Micron.

The company earns money by selling memory chips and storage products, including solid-state drives, to device makers and enterprise customers. Kioxia operates primarily in Japan, where it runs large fabrication plants, but sells its products worldwide. Its scale and manufacturing expertise give it a competitive position, though the NAND flash industry is highly cyclical — prices can swing sharply based on supply and demand, which makes revenue and profits unpredictable. The key growth driver is rising demand for data storage in AI infrastructure and cloud data centers.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+188.9% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

>+1,000% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (15%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

75.9%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$698.0B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Kioxia Holdings grew revenue 189% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

64.1%

Premium pricing power — 64.1% gross margin

Operating Margin

59.5%

Excellent — 59.5% operating margin

ROCE

23.9%

Exceptional — 23.9% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales YoY

+37.6%

Fast-growing sales (37.6% YoY)

EPS YoY

+105.1%

Earnings growing fast (105.1% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Cash Conversion

118%

Turns 118% of profit into real cash

FCF Margin

15.0%

Converts sales into free cash efficiently (15.0%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

Debt / Equity

0.78

Moderate — manageable debt (0.78)

Interest Cover

8.18x

Comfortably covers interest (8.2x)

Interest coverage above 8. Profits cover interest many times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

P/E Ratio (TTM)

50.7x

Expensive — P/E 50.7

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+47.3

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (50.7 → 3.4)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial