CENTRAL JAPAN RAILWAY COMPANY Financials Central Japan Railway Company
Equities
9022
JP3566800003
Passenger Transportation, Ground & Sea
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3,430 JPY | -0.12% |
|
-5.22% | -4.30% |
| 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 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 50,37,894 | 34,00,017 | 32,55,566 | 31,41,898 | 31,11,395 | 33,79,039 | - | - |
| Enterprise Value (EV) 1 | 86,42,443 | 69,86,880 | 73,49,320 | 72,56,158 | 72,29,531 | 36,66,366 | 72,09,877 | 69,55,725 |
| P/E ratio | 11.5 x | 8.54 x | -16.1 x | -60.5 x | 14.2 x | 9.54 x | 9.08 x | 8.9 x |
| Yield | 0.56% | 0.87% | 0.79% | 0.81% | 0.85% | 0.78% | 0.86% | 0.92% |
| Capitalization / Revenue | 2.68 x | 1.84 x | 3.95 x | 3.36 x | 2.22 x | 2.14 x | 1.92 x | 1.9 x |
| EV / Revenue | 4.6 x | 3.79 x | 8.92 x | 7.76 x | 5.16 x | 2.14 x | 4.1 x | 3.9 x |
| EV / EBITDA | 9.38 x | 8.02 x | 503 x | 34.8 x | 12.4 x | 4.45 x | 8.62 x | 8.31 x |
| EV / FCF | 46.5 x | 53.1 x | -11 x | -89.2 x | 23.2 x | 22.8 x | 33.8 x | 22.3 x |
| FCF Yield | 2.15% | 1.88% | -9.07% | -1.12% | 4.32% | 4.39% | 2.95% | 4.49% |
| Price to Book | 1.45 x | 0.89 x | 0.89 x | 0.88 x | 0.83 x | 0.88 x | 0.75 x | 0.7 x |
| Nbr of stocks (in thousands) | 9,79,754 | 9,81,529 | 9,83,555 | 9,83,996 | 9,83,996 | 9,83,995 | - | - |
| Reference price 2 | 5,142 | 3,464 | 3,310 | 3,193 | 3,162 | 3,434 | 3,434 | 3,434 |
| Announcement Date | 25/04/19 | 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 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 18,78,137 | 18,44,647 | 8,23,517 | 9,35,139 | 14,00,285 | 17,10,407 | 17,57,542 | 17,83,085 |
| EBITDA 1 | 9,21,037 | 8,70,680 | 14,611 | 2,08,747 | 5,81,542 | 8,23,787 | 8,36,725 | 8,36,936 |
| EBIT 1 | 7,09,775 | 6,56,163 | -1,84,751 | 1,708 | 3,74,503 | 6,07,381 | 6,12,875 | 6,19,887 |
| Operating Margin | 37.79% | 35.57% | -22.43% | 0.18% | 26.74% | 35.51% | 34.87% | 34.76% |
| Earnings before Tax (EBT) 1 | 6,30,271 | 5,73,436 | -2,68,576 | -66,745 | 3,06,132 | 5,45,328 | 5,45,740 | 5,47,975 |
| Net income 1 | 4,38,715 | 3,97,881 | -2,01,554 | -51,928 | 2,19,417 | 3,84,411 | 3,79,015 | 3,80,963 |
| Net margin | 23.36% | 21.57% | -24.47% | -5.55% | 15.67% | 22.47% | 21.57% | 21.37% |
| EPS 2 | 447.8 | 405.6 | -205.1 | -52.77 | 223.0 | 390.7 | 378.4 | 385.6 |
| Free Cash Flow 1 | 1,85,920 | 1,31,502 | -6,66,800 | -81,303 | 3,12,000 | 3,23,603 | 2,13,000 | 3,12,530 |
| FCF margin | 9.9% | 7.13% | -80.97% | -8.69% | 22.28% | 19.2% | 12.12% | 17.53% |
| FCF Conversion (EBITDA) | 20.19% | 15.1% | - | - | 53.65% | 41.26% | 25.46% | 37.34% |
| FCF Conversion (Net income) | 42.38% | 33.05% | - | - | 142.19% | 93.52% | 56.2% | 82.04% |
| Dividend per Share 2 | 29.00 | 30.00 | 26.00 | 26.00 | 27.00 | 29.00 | 29.44 | 31.44 |
| Announcement Date | 25/04/19 | 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 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 9,55,611 | 8,89,036 | 3,37,888 | 4,85,629 | 2,06,321 | 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 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 4,06,873 | 2,49,290 | -1,13,573 | -71,178 | -8,797 | -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 |
| Operating Margin | 42.58% | 28.04% | -33.61% | -14.66% | -4.26% | -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% |
| Earnings before Tax (EBT) 1 | 3,70,046 | - | -1,55,606 | - | -27,210 | -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 |
| Net income 1 | 2,57,533 | - | -1,13,566 | - | -16,013 | -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 |
| Net margin | 26.95% | - | -33.61% | - | -7.76% | -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% |
| EPS 2 | 262.6 | - | -115.6 | - | -16.27 | -45.18 | 32.65 | -40.25 | 47.77 | 50.76 | 98.53 | 85.07 | 39.39 | 92.02 | 106.2 | 198.2 | 125.7 | 15.82 |
| Dividend per Share | 15.00 | - | 13.00 | - | 13.00 | 13.00 | - | 13.00 | - | 13.00 | 13.00 | - | - | - | - | 14.00 | - | - |
| Announcement Date | 28/10/19 | 27/04/20 | 28/10/20 | 27/04/21 | 27/10/21 | 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 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 36,04,549 | 35,86,863 | 40,93,754 | 41,14,260 | 41,18,136 | 39,93,478 | 38,30,838 | 35,76,685 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.914 x | 4.12 x | 280.2 x | 19.71 x | 7.081 x | 5.091 x | 4.578 x | 4.274 x |
| Free Cash Flow 1 | 1,85,920 | 1,31,502 | -6,66,800 | -81,303 | 3,12,000 | 3,23,603 | 2,13,000 | 3,12,530 |
| ROE (net income / shareholders' equity) | 13.4% | 10.9% | -5.4% | -1.4% | 6% | 9.7% | 8.78% | 8.4% |
| ROA (Net income/ Total Assets) | 6.95% | 6.08% | -2.73% | -0.71% | 3.24% | 5.62% | 3.8% | 3.91% |
| Assets 1 | 63,11,956 | 65,46,874 | 73,84,716 | 73,49,827 | 67,66,553 | 68,37,255 | 99,80,909 | 97,53,773 |
| Book Value Per Share 2 | 3,541 | 3,903 | 3,702 | 3,622 | 3,820 | 4,237 | 4,559 | 4,881 |
| Cash Flow per Share 2 | 663.0 | 624.0 | -2.230 | 158.0 | 446.0 | 611.0 | 595.0 | 650.0 |
| Capex 1 | 4,14,399 | 4,63,725 | 4,97,446 | 5,00,917 | 4,62,650 | 4,37,212 | 4,00,000 | 7,04,667 |
| Capex / Sales | 22.06% | 25.14% | 60.41% | 53.57% | 33.04% | 25.56% | 22.76% | 39.52% |
| Announcement Date | 25/04/19 | 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
C
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
11
Last Close Price
3,434
JPY
Average target price
4,045
JPY
Spread / Average Target
+17.81%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -4.30% | 21.72B | |
| +7.06% | 9.84B | |
| +11.40% | 9.66B | |
| +6.80% | 7.08B | |
| -10.07% | 6.22B | |
| -12.29% | 6.14B | |
| -13.15% | 4.75B | |
| +20.31% | 4.57B | |
| -18.92% | 4B | |
| -23.28% | 3.87B |
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