CENTRAL JAPAN RAILWAY COMPANY Financials Central Japan Railway Company Nasdaq Stockholm
Equities
US1537661001
Passenger Transportation, Ground & Sea
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End-of-day quote
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5-day change | 1st Jan Change | ||
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| 11/04 | US, Japan signal support for Texas high-speed rail plan | RE |
| 28/03 | Beijing Outlook, Ex-Dividend Dates Roil Asian Stock Markets | MT |
Valuation
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 34,00,017 | 32,55,566 | 31,41,898 | 31,11,395 | 36,66,366 | 34,09,543 | - | - |
| Enterprise Value (EV) 1 | 69,86,880 | 73,49,320 | 72,56,158 | 72,29,531 | 75,81,985 | 73,21,042 | 71,11,906 | 71,38,543 |
| P/E ratio | 8.54 x | -16.1 x | -60.5 x | 14.2 x | 9.54 x | 8.9 x | 8.63 x | 8.49 x |
| Yield | 0.87% | 0.79% | 0.81% | 0.85% | 0.78% | 0.87% | 0.92% | 0.92% |
| Capitalization / Revenue | 1.84 x | 3.95 x | 3.36 x | 2.22 x | 2.14 x | 1.93 x | 1.89 x | 1.87 x |
| EV / Revenue | 3.79 x | 8.92 x | 7.76 x | 5.16 x | 4.43 x | 4.15 x | 3.95 x | 3.91 x |
| EV / EBITDA | 8.02 x | 503 x | 34.8 x | 12.4 x | 9.2 x | 8.7 x | 8.28 x | 8.27 x |
| EV / FCF | 53.1 x | -11 x | -89.2 x | 23.2 x | 32.1 x | 24.3 x | 26.2 x | 162 x |
| FCF Yield | 1.88% | -9.07% | -1.12% | 4.32% | 3.12% | 4.11% | 3.82% | 0.62% |
| Price to Book | 0.89 x | 0.89 x | 0.88 x | 0.83 x | 0.88 x | 0.75 x | 0.7 x | 0.65 x |
| Nbr of stocks (in thousands) | 9,81,529 | 9,83,555 | 9,83,996 | 9,83,996 | 9,83,995 | 9,83,995 | - | - |
| Reference price 2 | 3,464 | 3,310 | 3,193 | 3,162 | 3,726 | 3,465 | 3,465 | 3,465 |
| Announcement Date | 27/04/20 | 27/04/21 | 26/04/22 | 26/04/23 | 30/04/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 18,44,647 | 8,23,517 | 9,35,139 | 14,00,285 | 17,10,407 | 17,64,295 | 17,99,261 | 18,25,288 |
| EBITDA 1 | 8,70,680 | 14,611 | 2,08,747 | 5,81,542 | 8,23,787 | 8,41,529 | 8,58,512 | 8,63,295 |
| EBIT 1 | 6,56,163 | -1,84,751 | 1,708 | 3,74,503 | 6,07,381 | 6,21,591 | 6,40,568 | 6,52,258 |
| Operating Margin | 35.57% | -22.43% | 0.18% | 26.74% | 35.51% | 35.23% | 35.6% | 35.73% |
| Earnings before Tax (EBT) 1 | 5,73,436 | -2,68,576 | -66,745 | 3,06,132 | 5,45,328 | 5,53,034 | 5,69,294 | 5,80,952 |
| Net income 1 | 3,97,881 | -2,01,554 | -51,928 | 2,19,417 | 3,84,411 | 3,86,421 | 3,96,389 | 4,03,803 |
| Net margin | 21.57% | -24.47% | -5.55% | 15.67% | 22.47% | 21.9% | 22.03% | 22.12% |
| EPS 2 | 405.6 | -205.1 | -52.77 | 223.0 | 390.7 | 389.1 | 401.4 | 408.0 |
| Free Cash Flow 1 | 1,31,502 | -6,66,800 | -81,303 | 3,12,000 | 2,36,322 | 3,00,768 | 2,71,717 | 44,169 |
| FCF margin | 7.13% | -80.97% | -8.69% | 22.28% | 13.82% | 17.05% | 15.1% | 2.42% |
| FCF Conversion (EBITDA) | 15.1% | - | - | 53.65% | 28.69% | 35.74% | 31.65% | 5.12% |
| FCF Conversion (Net income) | 33.05% | - | - | 142.19% | 61.48% | 77.83% | 68.55% | 10.94% |
| Dividend per Share 2 | 30.00 | 26.00 | 26.00 | 27.00 | 29.00 | 30.00 | 31.80 | 31.86 |
| Announcement Date | 27/04/20 | 27/04/21 | 26/04/22 | 26/04/23 | 30/04/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S2 | 2021 S1 | 2021 S2 | 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 | 2025 Q1 | 2025 Q2 | 2025 S1 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 8,89,036 | 3,37,888 | 4,85,629 | 3,86,949 | 2,99,440 | 2,48,750 | 3,09,342 | 3,24,797 | 6,34,139 | 3,85,012 | 3,81,134 | 3,95,091 | 4,22,454 | 8,17,545 | 4,55,472 | 4,37,390 | 4,19,478 | 4,40,838 | 8,60,000 | 4,60,422 | 4,43,388 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 2,49,290 | -1,13,573 | -71,178 | -34,103 | 71,276 | -35,465 | 83,540 | 88,386 | 1,71,926 | 1,34,443 | 68,134 | 1,46,518 | 1,65,574 | 3,12,092 | 1,90,505 | 1,04,784 | 1,64,661 | 1,77,827 | 3,39,000 | 1,86,927 | 92,654 |
| Operating Margin | 28.04% | -33.61% | -14.66% | -8.81% | 23.8% | -14.26% | 27.01% | 27.21% | 27.11% | 34.92% | 17.88% | 37.08% | 39.19% | 38.17% | 41.83% | 23.96% | 39.25% | 40.34% | 39.42% | 40.6% | 20.9% |
| Earnings before Tax (EBT) 1 | - | -1,55,606 | - | -65,182 | 52,820 | -54,383 | 66,629 | 69,326 | 1,35,955 | 1,18,117 | 52,061 | 1,29,236 | 1,48,752 | 2,77,988 | 1,76,206 | 91,134 | 1,44,000 | 1,61,000 | 3,05,000 | 1,75,000 | 82,000 |
| Net income 1 | - | -1,13,566 | - | -44,455 | 32,129 | -39,602 | 47,001 | 49,948 | 96,949 | 83,711 | 38,757 | 90,549 | 1,04,530 | 1,95,079 | 1,23,691 | 65,641 | 1,00,500 | 1,12,500 | 2,13,000 | 1,22,000 | 55,000 |
| Net margin | - | -33.61% | - | -11.49% | 10.73% | -15.92% | 15.19% | 15.38% | 15.29% | 21.74% | 10.17% | 22.92% | 24.74% | 23.86% | 27.16% | 15.01% | 23.96% | 25.52% | 24.77% | 26.5% | 12.4% |
| EPS 2 | - | -115.6 | - | -45.18 | 32.65 | -40.25 | 47.77 | 50.76 | 98.53 | 85.07 | 39.39 | 92.02 | 106.2 | 198.2 | 125.7 | 66.70 | 113.2 | 159.6 | - | 64.17 | 57.48 |
| Dividend per Share | - | 13.00 | - | 13.00 | - | 13.00 | - | 13.00 | 13.00 | - | - | - | - | 14.00 | - | - | - | - | - | - | - |
| Announcement Date | 27/04/20 | 28/10/20 | 27/04/21 | 27/10/21 | 31/01/22 | 26/04/22 | 27/07/22 | 31/10/22 | 31/10/22 | 30/01/23 | 26/04/23 | 28/07/23 | 30/10/23 | 30/10/23 | 30/01/24 | 30/04/24 | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 35,86,863 | 40,93,754 | 41,14,260 | 41,18,136 | 39,15,619 | 39,11,499 | 37,02,363 | 37,29,000 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 4.12 x | 280.2 x | 19.71 x | 7.081 x | 4.753 x | 4.648 x | 4.313 x | 4.319 x |
| Free Cash Flow 1 | 1,31,502 | -6,66,800 | -81,303 | 3,12,000 | 2,36,322 | 3,00,768 | 2,71,717 | 44,169 |
| ROE (net income / shareholders' equity) | 10.9% | -5.4% | -1.4% | 6% | 9.7% | 9% | 8.53% | 8.15% |
| ROA (Net income/ Total Assets) | 6.08% | -2.73% | -0.71% | 3.24% | 5.62% | 3.83% | 3.92% | 3.98% |
| Assets 1 | 65,46,874 | 73,84,716 | 73,49,827 | 67,66,553 | 68,37,255 | 1,00,80,564 | 1,01,20,564 | 1,01,58,554 |
| Book Value Per Share 2 | 3,903 | 3,702 | 3,622 | 3,820 | 4,237 | 4,604 | 4,968 | 5,366 |
| Cash Flow per Share 2 | 624.0 | -2.230 | 158.0 | 446.0 | 611.0 | 637.0 | 658.0 | 678.0 |
| Capex 1 | 4,63,725 | 4,97,446 | 5,00,917 | 4,62,650 | 4,37,212 | 4,74,100 | 6,42,075 | 8,17,433 |
| Capex / Sales | 25.14% | 60.41% | 53.57% | 33.04% | 25.56% | 26.87% | 35.69% | 44.78% |
| Announcement Date | 27/04/20 | 27/04/21 | 26/04/22 | 26/04/23 | 30/04/24 | - | - | - |
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
Sell
Buy
Mean consensus
HOLD
Number of Analysts
11
Last Close Price
3,465
JPY
Average target price
3,964
JPY
Spread / Average Target
+14.39%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +13.42% | 9.52B | |
| -0.15% | 8.8B | |
| -0.49% | 6.47B | |
| -5.26% | 6.31B | |
| -22.72% | 5.16B | |
| +10.88% | 4.11B | |
| -22.45% | 4.07B | |
| -28.61% | 3.45B | |
| -30.02% | 3.43B |
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