Kioxia Holdings (TSE:285A) Stock Price Slides Despite Huge Profit Reset

Kioxia Holdings went into this print with the stock down sharply over the past month, yet the latest quarter reads more like a memory chip reset than a stall. Net income for Q1 2027 landed at ¥842,165m on revenue of ¥1,767,117m, which puts reported basic earnings per share at ¥1,539.91. For a stock that just closed at ¥46,500, the key story is the profit power now visible in the numbers and how that lines up with a market that has recently marked the shares lower.

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Q1 2027 Earnings Summary

• Revenue (Q1 2027 vs Q1 2026): ¥1,767,117m vs. ¥342,799m (very large year on year increase)
• Net Income (Excl. Extra Items, Q1 2027 vs Q1 2026): ¥842,165m vs. ¥18,284m (very large year on year increase)
• Basic EPS (Q1 2027 vs Q1 2026): ¥1,539.91 vs. ¥33.90 (very large year on year increase)
• Trailing twelve month Net Income (Excl. Extra Items, Q1 2027 vs Q1 2026 TTM): ¥1,378,371m vs. ¥220,841m (very large increase over the last 12 months)

Prefer clean charts over another wall of earnings tables and raw figures? See Kioxia Holdings' full financial picture with a visual view of its recent profitability trend in the company report for Kioxia Holdings.

Kioxia earnings power and the bullish reset

Kioxia’s Q1 2027 numbers point to a business that is currently converting the NAND and SSD cycle into real profit. Revenue of ¥1,767,117m and net income of ¥842,165m, plus a trailing twelve month net income of ¥1,378,371m, sit against a share price that has fallen sharply over the past month. That mix supports the narrative that core demand drivers and product positioning are intact. For investors focused on earnings power and free cash flow potential, the latest results broadly back the more optimistic data economy thesis.

Recent drawdown and what feeds the bear case

The share price fall of about 39% over 30 days and 17% over 7 days shows how quickly sentiment around Kioxia can swing, even after a strong profit print. That reinforces the concern that this is still a highly cyclical memory stock where sector mood and macro worries can overshadow fundamentals. At the same time, a 90 day gain of about 28% and very large year on year jumps in revenue and earnings suggest current risks look more about cycle timing and expectations than an immediate breakdown in the business model.

Compare Kioxia Holdings' sharp profit recovery with how the stock has sold off recently, then see whether analysts think the reset has gone too far by checking the consensus price target analysis for Kioxia Holdings.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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