Kajima Corporation (JP:1812)
:1812
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Kajima
(1812)
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Rating:71Outperform
Price Target:
¥6,335.00
▲(3.94% Upside)
Action:ReiteratedDate:02/10/26
Overall score reflects strong operating performance and solid balance sheet strength as the primary positives, offset by negative free cash flow. Technicals are supportive but flagged by extreme overbought conditions, and valuation/income support is only moderate (P/E 19.44; dividend yield 1.65%).
Positive Factors
Revenue Growth
Sustained double-digit revenue growth indicates expanding project wins and underlying demand. Over 2-6 months this supports a healthier backlog, better pricing leverage on new contracts and room to invest in capabilities, reducing dependence on single large projects.
Negative Factors
Weak Cash Generation
Negative free cash flow and a low OCF/net income ratio limit the firm's ability to self-fund large developments or return capital. Over months this can force greater reliance on external financing, raise financing costs, and constrain opportunistic investments or reserve building.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained double-digit revenue growth indicates expanding project wins and underlying demand. Over 2-6 months this supports a healthier backlog, better pricing leverage on new contracts and room to invest in capabilities, reducing dependence on single large projects.
Read all positive factors
Kajima (1812) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥2.86T
Dividend Yield1.96%
Average Volume (3M)1.99M
Price to Earnings (P/E)15.1
Beta (1Y)0.92
Revenue Growth10.52%
EPS Growth71.09%
CountryJP
Employees19,813
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)96.29
Shares Outstanding528,656,000
10 Day Avg. Volume2,151,690
30 Day Avg. Volume1,993,970
Financial Highlights & Ratios
PEG Ratio0.98
Price to Book (P/B)1.14
Price to Sales (P/S)0.49
P/FCF Ratio-40.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)352.05
Revenue Forecast (FY)¥3.01T
Kajima Business Overview & Revenue Model
Company Description
Kajima Corporation engages in civil engineering, building construction, and real estate development and other businesses worldwide. It provides procurement and construction services comprising sale and lease of construction equipment and materials...
How the Company Makes Money
Kajima primarily generates revenue from (1) construction contracting and related engineering services and (2) real estate and other development/asset-based businesses. In its construction business, it earns project-based revenue by acting as a gen...
Kajima Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.95T | 2.91T | 2.67T | 2.39T | 2.08T | 1.91T |
| Gross Profit | 337.25B | 327.57B | 294.68B | 269.26B | 257.32B | 242.31B |
| EBITDA | 195.98B | 182.81B | 163.49B | 148.58B | 146.52B | 146.82B |
| Net Income | 134.90B | 125.82B | 115.03B | 111.79B | 103.87B | 98.52B |
Balance Sheet | ||||||
| Total Assets | 3.27T | 3.45T | 3.14T | 2.77T | 2.34T | 2.16T |
| Cash, Cash Equivalents and Short-Term Investments | 316.82B | 366.07B | 366.20B | 297.79B | 285.39B | 320.28B |
| Total Debt | 744.34B | 847.77B | 666.75B | 589.53B | 404.45B | 359.13B |
| Total Liabilities | 2.02T | 2.18T | 1.91T | 1.71T | 1.38T | 1.28T |
| Stockholders Equity | 1.23T | 1.26T | 1.21T | 1.05T | 945.71B | 874.84B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -35.90B | 82.23B | -86.91B | -19.20B | 106.74B |
| Operating Cash Flow | 0.00 | 30.72B | 123.73B | -26.17B | 30.21B | 153.10B |
| Investing Cash Flow | 0.00 | -101.67B | -58.64B | -79.38B | -49.47B | -58.10B |
| Financing Cash Flow | 0.00 | 58.44B | -13.85B | 106.59B | -22.62B | -46.45B |
Kajima Technical Analysis
Negative
6095.00
Price Trends
6637.50
Negative
6177.87
Negative
5148.35
Positive
Market Momentum
-223.33
Positive
37.46
Neutral
19.39
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:1812, the sentiment is Negative. The current price of 6095 is below the 20-day moving average (MA) of 6387.75, below the 50-day MA of 6637.50, and above the 200-day MA of 5148.35, indicating a neutral trend. The MACD of -223.33 indicates Positive momentum. The RSI at 37.46 is Neutral, neither overbought nor oversold. The STOCH value of 19.39 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:1812.
Kajima Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ¥335.93B | 11.11 | 16.55% | 4.26% | 9.49% | 64.79% | |
75 Outperform | ¥2.61T | 10.54 | 14.23% | 2.47% | 2.27% | 70.36% | |
75 Outperform | ¥1.83T | 12.97 | 11.22% | 1.48% | 5.14% | 773.86% | |
74 Outperform | ¥281.02B | 9.47 | 7.62% | 3.44% | 7.54% | 115.47% | |
71 Outperform | ¥2.86T | 15.14 | 13.56% | 1.96% | 10.52% | 71.09% | |
67 Neutral | ¥2.60T | 15.64 | 16.64% | 1.83% | 6.60% | 114.38% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
JP:1812
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Kajima Corporate Events
Kajima overhauls top management ahead of governance transition
Feb 12, 2026
Kajima Corporation has announced a significant management reshuffle to coincide with its planned transition to a Company with an Audit Supervisory Committee in late June 2026, aiming to strengthen corporate governance and support sustainable grow...
Kajima to Strengthen Governance With Transition to Audit & Supervisory Committee Structure
Feb 12, 2026
Kajima Corporation will shift its governance structure from a “Company with an Audit Supervisory Board” to a “Company with an Audit Supervisory Committee,” subject to shareholder approval at its 129th ordinary stockholder...
Kajima Lifts FY2025 Earnings Forecast on Strong Construction Margins
Feb 12, 2026
Kajima has raised its consolidated and nonconsolidated earnings forecasts for the fiscal year ending March 31, 2026, citing stronger-than-expected performance in its core construction operations. The company now projects consolidated revenue of &#...
Kajima Lifts Earnings and Forecasts as Profitability Surges and Group Scope Expands
Feb 12, 2026
Kajima reported consolidated revenue of ¥2.03 trillion for the nine months to December 31, 2025, up 1.6% year on year, with operating income surging 81.6% to ¥171.8 billion and net income attributable to owners of the parent rising sharp...
Kajima Appoints Chairman Yoshikazu Oshimi as President After Sudden Death of Top Executive
Jan 27, 2026
Kajima Corporation announced the death of its President and Representative Director, Hiromasa Amano, on January 23, 2026, and has implemented an immediate change in top management. The Board of Directors has promoted Chairman and Representative Di...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.