Financials East Japan Railway Company

Equities

9020

JP3783600004

Passenger Transportation, Ground & Sea

Market Closed - Japan Exchange 02:00:00 2024-06-21 am EDT 5-day change 1st Jan Change
2,586 JPY +1.19% Intraday chart for East Japan Railway Company +1.02% -4.55%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,070,800 3,084,326 2,957,186 2,682,169 2,763,859 2,926,242 - -
Enterprise Value (EV) 1 6,644,212 6,242,826 6,371,419 6,565,739 7,008,485 7,576,203 7,553,079 7,669,157
P/E ratio 13.8 x 15.6 x -5.12 x -28.2 x 27.8 x 16.8 x 13.8 x 12.9 x
Yield 1.4% 2.02% 1.28% 1.41% 1.36% 4.8% 2.04% 2.25%
Capitalization / Revenue 1.36 x 1.05 x 1.68 x 1.36 x 1.15 x 1.21 x 1.03 x 0.99 x
EV / Revenue 2.21 x 2.12 x 3.61 x 3.32 x 2.91 x 2.78 x 2.65 x 2.59 x
EV / EBITDA 7.78 x 8.26 x -48.4 x 27.5 x 13.2 x 10.3 x 9.66 x 9.54 x
EV / FCF 95.8 x -40.8 x -7.05 x -19.5 x 431 x -164 x -50.2 x -67 x
FCF Yield 1.04% -2.45% -14.2% -5.12% 0.23% -0.61% -1.99% -1.49%
Price to Book 1.33 x 0.98 x 1.17 x 1.12 x 1.12 x 0.41 x 1.02 x 0.97 x
Nbr of stocks (in thousands) 1,143,483 1,131,724 1,131,721 1,131,717 1,130,413 1,131,352 - -
Reference price 2 3,560 2,725 2,613 2,370 2,445 2,586 2,586 2,586
Announcement Date 4/25/19 4/28/20 4/28/21 4/27/22 4/27/23 4/30/24 - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 3,002,043 2,946,639 1,764,584 1,978,967 2,405,538 2,730,118 2,849,416 2,957,827
EBITDA 1 853,582 755,583 -131,530 238,688 530,513 737,333 781,754 803,569
EBIT 1 484,860 380,841 -520,358 -153,938 140,628 345,161 369,283 388,314
Operating Margin 16.15% 12.92% -29.49% -7.78% 5.85% 12.64% 12.96% 13.13%
Earnings before Tax (EBT) 1 428,619 284,174 -703,591 -180,502 128,375 274,072 309,716 329,119
Net income 1 295,216 198,428 -577,900 -94,948 99,232 196,449 212,875 226,779
Net margin 9.83% 6.73% -32.75% -4.8% 4.13% 7.2% 7.47% 7.67%
EPS 2 257.8 175.0 -510.6 -83.90 87.79 173.8 187.3 200.5
Free Cash Flow 1 69,376 -152,909 -903,637 -335,852 16,244 -46,223 -150,545 -114,451
FCF margin 2.31% -5.19% -51.21% -16.97% 0.68% -1.69% -5.28% -3.87%
FCF Conversion (EBITDA) 8.13% - - - 3.06% - - -
FCF Conversion (Net income) 23.5% - - - 16.37% - - -
Dividend per Share 2 50.00 55.00 33.33 33.33 33.33 140.0 52.75 58.15
Announcement Date 4/25/19 4/28/20 4/28/21 4/27/22 4/27/23 4/30/24 - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S1 2020 S2 2021 S1 2021 S2 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 Q1 2025 Q2 2025 S1 2025 Q3 2025 Q4
Net sales 1 1,518,893 1,427,746 787,297 977,287 444,442 877,840 604,954 496,173 557,618 557,382 1,115,000 612,000 678,538 629,400 670,357 1,299,829 701,200 729,096 1,430,289 660,452 706,990 1,352,000 692,757 796,650
EBITDA - - - - - - - - - - - - - - - - - - - - - - - -
EBIT 1 296,568 84,273 -295,288 -225,070 -60,636 -115,891 73,356 -111,403 40,297 26,403 66,700 45,300 28,628 80,100 111,621 191,797 106,800 46,651 153,364 90,198 117,757 202,000 110,461 53,799
Operating Margin 19.53% 5.9% -37.51% -23.03% -13.64% -13.2% 12.13% -22.45% 7.23% 4.74% 5.98% 7.4% 4.22% 12.73% 16.65% 14.76% 15.23% 6.4% 10.72% 13.66% 16.66% 14.94% 15.95% 6.75%
Earnings before Tax (EBT) 271,466 - -359,232 - -71,388 -137,095 75,221 -118,628 26,208 12,092 38,305 58,931 31,139 66,314 98,427 164,741 96,225 - - 70,000 104,000 174,000 91,000 45,000
Net income 1 188,534 - -264,379 - -68,251 -145,209 61,458 -11,197 18,922 8,178 27,100 45,400 26,732 44,800 72,264 117,077 68,200 11,217 - 48,000 74,000 122,000 63,000 31,000
Net margin 12.41% - -33.58% - -15.36% -16.54% 10.16% -2.26% 3.39% 1.47% 2.43% 7.42% 3.94% 7.12% 10.78% 9.01% 9.73% 1.54% - 7.27% 10.47% 9.02% 9.09% 3.89%
EPS 165.9 - -233.6 - -60.31 -128.3 54.31 -9.893 16.72 7.233 23.95 40.27 23.57 39.66 63.96 103.6 60.32 29.65 - 52.00 48.55 - 60.67 26.45
Dividend per Share 27.50 - 16.67 - 16.67 16.67 - 16.67 - 16.67 16.67 - - - - 18.33 - - - - - - - -
Announcement Date 10/28/19 4/28/20 10/28/20 4/28/21 10/28/21 10/28/21 1/31/22 4/27/22 7/29/22 10/31/22 10/31/22 1/31/23 4/27/23 7/28/23 10/31/23 10/31/23 1/31/24 4/30/24 4/30/24 - - - - -
1JPY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,573,412 3,158,500 3,414,233 3,883,570 4,244,626 4,276,264 4,626,837 4,742,914
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 3.015 x 4.18 x -25.96 x 16.27 x 8.001 x 5.8 x 5.919 x 5.902 x
Free Cash Flow 1 69,376 -152,909 -903,637 -335,852 16,244 -46,223 -150,545 -114,451
ROE (net income / shareholders' equity) 10% 6.4% -20.3% -3.9% 4.1% 7.6% 7.69% 7.69%
ROA (Net income/ Total Assets) 5.9% 4.02% -6.64% -1.99% 1.2% 3.1% 2.38% 2.42%
Assets 1 5,003,661 4,937,469 8,698,178 4,762,664 8,250,701 6,332,387 8,944,308 9,371,022
Book Value Per Share 2 2,682 2,780 2,240 2,116 2,189 7,207 2,543 2,670
Cash Flow per Share 2 587.0 514.0 -157.0 273.0 442.0 1,592 578.0 593.0
Capex 1 649,037 703,908 713,669 543,698 578,178 734,326 792,080 761,300
Capex / Sales 21.62% 23.89% 40.44% 27.47% 24.04% 26.9% 27.8% 25.74%
Announcement Date 4/25/19 4/28/20 4/28/21 4/27/22 4/27/23 4/30/24 - -
1JPY in Million2JPY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
10
Last Close Price
2,586 JPY
Average target price
2,953 JPY
Spread / Average Target
+14.17%
Consensus
  1. Stock Market
  2. Equities
  3. 9020 Stock
  4. Financials East Japan Railway Company