ORIX Corporation
- Open
- 39.26
- Day high
- 39.26
- Day low
- 38.93
- Prev close
- 39.00
- Volume
- 164K
- Mkt cap
- $42.3B
- P/E (TTM)
- 11.2
- EPS (TTM)
- $3.49
- P/B
- 1.4
- P/S
- 2.0
- Yield
- 1.04%
- Per share
- $0.40
- ▲Insiders net buying $917 over the last 3 months (3 open-market buys, 0 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions accumulating (13F)
ORIX Corporation (IX) is a Financial Services company listed on NYSE. The stock is up 49% over the past year. Over the trailing 3 months, insiders filed 3 open-market buys and 0 sales (SEC Form 4).
ORIX Corporation (IX) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
IX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 6, 2026 | $1.16 | $1.57 | +35.3% | $5.6B | -24.7% |
| May 11, 2026 | $0.35 | $0.34 | -1.8% | $5.8B | +122.8% |
| Nov 12, 2025 | $0.57 | $0.99 | +74.3% | $5.3B | +9.4% |
| Aug 7, 2025 | $0.54 | $0.65 | +20.4% | $5.3B | +5.0% |
| Nov 8, 2024 | $0.50 | $0.56 | +12.0% | $4.7B | -3.3% |
| Feb 7, 2024 | $0.53 | $0.53 | -0.4% | $4.8B | -7.6% |
| Nov 1, 2023 | $0.48 | $0.39 | -18.7% | $4.6B | -2.8% |
| Aug 4, 2023 | $2.18 | $0.39 | -82.1% | $4.7B | -5.0% |
| Aug 3, 2022 | $2.35 | $0.40 | -83.0% | $4.8B | -4.0% |
| Feb 7, 2022 | $0.50 | $0.48 | -4.0% | $5.4B | -4.7% |
| Nov 4, 2021 | $0.54 | $0.61 | +13.0% | — | — |
| May 13, 2021 | $0.44 | $0.39 | -11.4% | $5.7B | — |
IX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 25, 2026 | Otsuka Takashiofficer: See Remarks | Buy | 13 | $38.22 |
| Jun 25, 2026 | Matsuzaki Satorudirector, officer: See remarks | Buy | 7 | $38.22 |
| Jun 25, 2026 | Ishihara Tomohikoofficer: Executive Officer | Buy | 4 | $38.22 |
Source: IX SEC Form 4 filings, latest Jun 25, 2026. For informational purposes only — not investment advice.
See the full IX insider & 13F page →ORIX Corporation company profile
Overview
ORIX Corporation (NYSE:IX) is a Japanese diversified financial services conglomerate founded in 1950 as Orient Leasing Co., Ltd. before changing its name to ORIX Corporation in 1989. Originally focused on equipment leasing, the company has evolved into a global financial powerhouse operating across multiple sectors including real estate, private equity, renewable energy, aircraft leasing, banking, and insurance. Headquartered in Tokyo, ORIX has expanded its operations across Japan, the Americas, Asia, Europe, Australasia, and the Middle East, becoming one of Japan's most internationally diversified financial services companies.
Business
ORIX operates as a diversified financial services company with ten distinct business segments, making it unique among Japanese financial institutions for its breadth of operations. The company's business model combines traditional financial services with alternative investments and asset management. Corporate Financial Services and Maintenance Leasing (approximately 20% of segment profits) provides equipment financing, leasing services for automobiles, electronic measuring instruments, and ICT equipment, along with life insurance products and environmental services. This segment serves as ORIX's traditional core business, offering businesses flexible financing solutions for essential equipment needs. Real Estate (approximately 16% of segment profits) encompasses property development, rental management, facility operations, residential condominium management, office building operations, construction contracting, brokerage services, and investment advisory. This segment capitalizes on Japan's real estate market and includes both domestic and international property investments. Private Equity Investment and Concession (approximately 11% of segment profits) manages private equity investments and operates concession businesses, including airport operations. The concession business involves managing public infrastructure projects under long-term agreements with government entities. Environment and Energy (approximately 7% of segment profits) focuses on renewable energy projects, energy service company (ESCO) operations, electric power retail, solar panel and battery storage system sales, and recycling and waste management services. This segment represents ORIX's commitment to sustainable business practices and the growing clean energy market. Insurance (approximately 17% of segment profits) sells life insurance products through various distribution channels including agents, banks, financial institutions, and direct online sales. Banking and Credit (approximately 24% of segment profits) provides traditional banking services and consumer finance, representing ORIX's retail financial services operations. Aircraft and Ships (approximately 7% of segment profits) specializes in aircraft leasing and management, along with ship-related financing and investment. The aircraft leasing business benefits from global aviation growth and tight supply-demand dynamics in the aircraft market. The remaining segments include ORIX USA, ORIX Europe, and Asia and Australia, which collectively provide finance, investment, and asset management services in their respective regions, representing ORIX's international expansion strategy.
Revenue model
ORIX generates revenue through multiple streams reflecting its diversified business model. The company earns money through traditional financial services including interest income from loans and leases, insurance premiums, and banking fees. Asset management fees come from managing real estate, private equity funds, and other investment vehicles for third parties. Investment gains represent a significant portion of profits, generated through buying, improving, and selling assets across real estate, private equity, and other investment categories. Rental income flows from real estate properties, aircraft leasing, and equipment leasing operations. Service fees are earned from concession operations, maintenance services, and various advisory services. The company's customers span multiple categories: corporations requiring equipment financing and leasing services, individual consumers seeking banking and insurance products, institutional investors using ORIX's asset management services, and government entities engaging ORIX for concession projects. Revenue distribution varies by segment, with Banking and Credit typically contributing around 24% of segment profits, Corporate Financial Services around 20%, and Real Estate around 16%. Several factors influence ORIX's profitability margins. Interest rate environments significantly impact the company's financial services operations - rising rates can improve lending spreads but may reduce asset valuations and increase funding costs. Economic cycles affect demand for leasing services, real estate values, and credit quality across the portfolio. Aviation industry health directly impacts aircraft leasing profitability, with factors like airline financial stability and aircraft supply-demand dynamics being crucial. Real estate market conditions influence both rental income and capital gains opportunities. Regulatory changes in financial services, environmental policies affecting renewable energy investments, and international trade conditions all impact various business segments. Currency fluctuations affect overseas operations, while competition from traditional banks, specialized leasing companies, and alternative investment managers can pressure margins across different business lines.
Competitive moat
ORIX's competitive moat is moderate but multifaceted, stemming from its unique positioning as Japan's most diversified financial services company. The company's diversification advantage provides stability through economic cycles, as weakness in one segment can be offset by strength in others. This diversification is difficult for competitors to replicate given the capital requirements and regulatory expertise needed across multiple financial services sectors. The company benefits from strong relationships built over decades with corporate clients, government entities for concession projects, and international partners. ORIX's capital recycling expertise - the ability to buy, improve, and sell assets across various categories - represents institutional knowledge that creates value beyond traditional financial metrics. The company's international presence and local market knowledge in key regions provide advantages in cross-border transactions and global asset management. However, ORIX's moat faces several challenges. The company operates in highly competitive markets where traditional banks, specialized leasing companies, private equity firms, and real estate investment trusts compete directly in various segments. Regulatory changes in financial services could impact competitive positioning, particularly in banking and insurance operations. Technology disruption poses risks to traditional financial services, while economic downturns can simultaneously impact multiple business segments despite diversification benefits. The company's asset-heavy model requires continuous capital deployment and active management, making it vulnerable to market timing and execution risks. Unlike businesses with strong network effects or proprietary technology, ORIX's advantages are more operational and relationship-based, which can erode over time if not continuously reinforced. The moat is best characterized as moderate - providing some competitive protection but requiring ongoing strategic execution to maintain.
Risks & safety
ORIX demonstrates a moderate margin of safety with mixed financial health indicators. • Liquidity Position: Strong current ratio of 4.49x and cash position of $6.2 billion provides adequate short-term liquidity buffer • Debt Management: Debt-to-equity ratio of 1.57x is elevated but manageable for a financial services company; total liabilities of $76.6 billion against $102.5 billion in assets • Solvency Risk: Low immediate solvency concerns given diversified revenue streams and asset base, though financial services model inherently carries leverage risks • Credit Quality: Non-performing loans around ¥60 billion, higher than historical levels, primarily from U.S. real estate financing • Valuation Metrics: Attractive P/E ratio of 2.37x and P/B ratio of 0.20x suggest potential undervaluation, though ROE of 2.1% (quarterly) indicates current profitability challenges • Cash Generation: Positive operating cash flows but limited free cash flow generation requires monitoring • Other Considerations: Geographic and sector diversification provides some downside protection, but exposure to cyclical sectors like aviation and real estate creates vulnerability to economic downturns
Recent development
Over the past few years, ORIX has pursued several strategic initiatives focused on capital recycling, international expansion, and sustainable investments. The company has significantly increased its renewable energy investments, acquiring stakes in companies like Greenko in India and Elawan Energy, positioning itself in the growing clean energy transition. This aligns with ORIX's sustainability goals, including a commitment to reduce greenhouse gas emissions by 50% by 2030. Capital recycling has become a core strategy, with ORIX generating substantial investment gains through strategic asset sales. Notable transactions include the sale of Yayoi (accounting software company) which generated ¥163 billion in investment gains, and ongoing efforts to monetize real estate, private equity, and renewable energy assets. In Q1 2025 alone, the company achieved ¥35 billion in capital gains with ¥135 billion in cash inflows reinvested into domestic real estate, overseas renewable energy projects, and aircraft purchases. The company has been strengthening its aircraft leasing business, benefiting from tight supply-demand dynamics and rising aircraft prices as the aviation industry recovers from COVID-19 impacts. ORIX has been actively purchasing aircraft and expanding its fleet to capitalize on improved market conditions. International expansion continues with cautious optimism, particularly in renewable energy projects across Asia and other markets. However, the company has taken a more conservative approach to U.S. investments due to challenging market conditions and higher credit costs in that region. Recent acquisitions include taking an 80% stake in Panasonic Connect's projector business, demonstrating ORIX's continued interest in technology-related investments. The company is also progressing with the MICE-IR project in Osaka, a major integrated resort development that represents a significant long-term investment opportunity. ORIX has been focusing on improving operational efficiency and exploring opportunities to enhance its asset management capabilities, including potential third-party fund management services. The company has also been more active in shareholder returns, completing a ¥50 billion share buyback program and increasing dividend payouts, with the payout ratio rising to 39% of net income.
IX company profile · for informational purposes only — not investment advice.
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