ENEOS Holdings (JP:5020)
:5020
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ENEOS Holdings
(5020)
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Rating:62Neutral
Price Target:
¥1,394.00
▼(-2.82% Downside)
Action:Reiterated
Date:05/15/26
The score is driven mainly by mid-range financial performance reflecting cyclical earnings, improving but still meaningful leverage, and generally supportive (yet volatile) cash generation. Valuation is a positive contributor with a moderate P/E and decent dividend yield. Technical indicators are the main drag due to negative MACD and price sitting below key short-term moving averages.
Positive Factors
Diversified energy & materials portfolio
ENEOS's broad portfolio across refining, marketing, lubricants, petrochemicals and non‑ferrous metals provides durable revenue diversification and scale. Its ENEOS-branded retail network and industrial channels create stable domestic distribution, supporting resilience through commodity cycles and cross-segment margin capture.
Negative Factors
Revenue volatility and recent declines
Top-line swings and two consecutive annual revenue declines make forecasting and operational planning harder. Persistent volatility reduces visibility into sustainable demand and free cash flow, raising execution risk for capex, margin improvement programs and maintaining shareholder distributions during downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified energy & materials portfolio
ENEOS's broad portfolio across refining, marketing, lubricants, petrochemicals and non‑ferrous metals provides durable revenue diversification and scale. Its ENEOS-branded retail network and industrial channels create stable domestic distribution, supporting resilience through commodity cycles and cross-segment margin capture.
Read all positive factors
ENEOS Holdings (5020) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥3.48T
Dividend Yield2.74%
Average Volume (3M)8.65M
Price to Earnings (P/E)14.7
Beta (1Y)1.07
Revenue Growth-4.52%
EPS Growth19.27%
CountryJP
Employees43,683
SectorEnergy
Sector Strength52
IndustryOil & Gas Refining & Marketing
Share Statistics
EPS (TTM)96.18
Shares Outstanding2,706,766,600
10 Day Avg. Volume9,657,770
30 Day Avg. Volume8,652,513
Financial Highlights & Ratios
PEG Ratio0.72
Price to Book (P/B)1.13
Price to Sales (P/S)0.32
P/FCF Ratio9.99
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥1,510.00Price Target Upside5.26% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)137.3
Revenue Forecast (FY)¥13.13T
ENEOS Holdings Business Overview & Revenue Model
Company Description
ENEOS Holdings, Inc., through its subsidiaries, engages in the energy, oil and natural gas exploration and production (E&P), and metals businesses Japan, China, and internationally. The company operates through Energy, Oil and Natural Gas E&P, Met...
How the Company Makes Money
ENEOS Holdings makes money primarily through a portfolio of energy and materials businesses. (1) Petroleum products: It earns revenue by procuring crude oil, refining it into gasoline, diesel, kerosene, jet fuel, heavy oils, and related products, ...
ENEOS Holdings Earnings Call Summary
Earnings Call Date:Nov 13, 2024
(Q2-2024)
| % Change Since: |
Next Earnings Date:Aug 07, 2026
Earnings Call Sentiment Positive
The earnings call highlights strong performance in the Energy segment and an upward revision of the operating income forecast, alongside improvements in cash flow and renewable energy profits. However, challenges remain in the oil and natural gas E&P and Metals segments, with expected declines in second-half net income.Positive Updates
Energy Segment Profit Increase
The Energy segment saw a significant increase in profit, resulting in a group consolidated profit increase of JPY 152.5 billion. This was due to improved margins, including chemicals and improved selling prices in the electricity business.
Negative Updates
Decline in Oil and Natural Gas E&P Business
Operating income for the oil and natural gas E&P business decreased by JPY 8.7 billion year-on-year due to a decline in resource prices.
Read all updates
Q2-2024 Updates
Positive
Negative
Energy Segment Profit Increase
The Energy segment saw a significant increase in profit, resulting in a group consolidated profit increase of JPY 152.5 billion. This was due to improved margins, including chemicals and improved selling prices in the electricity business.
Read all positive updates
Company Guidance
During the second quarter earnings call for fiscal 2024, ENEOS Group executives reported several key metrics and guidance. Operating income decreased by JPY 103.3 billion to JPY 291.5 billion due to reduced inventory impact from crude oil price fluctuations. Despite this, the energy segment showed significant profit growth, contributing to a JPY 152.5 billion increase in consolidated group profits. Forecasts for the full year have been revised, with expected operating income of JPY 420 billion, up by JPY 80 billion, and operating income excluding inventory valuation projected at JPY 370 billion, an increase of JPY 30 billion. Net income is anticipated to reach JPY 200 billion, revised upward by JPY 20 billion. Additionally, the company highlighted progress in business process reengineering and energy transition efforts, aiming for improved returns on equity (ROE) and an enhanced management structure.ENEOS Holdings Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
58
Neutral
Cash Flow
66
Positive
| Breakdown | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 11.77T | 12.32T | 13.86T | 15.02T | 10.92T |
| Gross Profit | 1.22T | 1.10T | 1.34T | 1.21T | 1.58T |
| EBITDA | 680.26B | 627.48B | 735.34B | 626.29B | 1.00T |
| Net Income | 258.73B | 226.07B | 288.12B | 143.77B | 537.12B |
Balance Sheet | |||||
| Total Assets | 9.09T | 8.79T | 10.14T | 9.95T | 9.65T |
| Cash, Cash Equivalents and Short-Term Investments | 877.29B | 846.56B | 775.91B | 311.52B | 547.27B |
| Total Debt | 2.62T | 2.96T | 3.55T | 3.94T | 3.63T |
| Total Liabilities | 5.34T | 5.32T | 6.43T | 6.67T | 6.41T |
| Stockholders Equity | 3.37T | 3.10T | 3.23T | 2.86T | 2.86T |
Cash Flow | |||||
| Free Cash Flow | 379.68B | 294.01B | 681.87B | -428.98B | -46.01B |
| Operating Cash Flow | 619.98B | 576.84B | 1.01T | -110.25B | 209.51B |
| Investing Cash Flow | -251.28B | 131.54B | -238.20B | -113.55B | -310.93B |
| Financing Cash Flow | -361.71B | -631.19B | -333.81B | -15.70B | 187.05B |
ENEOS Holdings Technical Analysis
Negative
1434.50
Price Trends
1363.14
Negative
1324.78
Negative
1126.49
Positive
Market Momentum
-16.82
Positive
41.45
Neutral
21.24
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5020, the sentiment is Negative. The current price of 1434.5 is above the 20-day moving average (MA) of 1318.67, above the 50-day MA of 1363.14, and above the 200-day MA of 1126.49, indicating a neutral trend. The MACD of -16.82 indicates Positive momentum. The RSI at 41.45 is Neutral, neither overbought nor oversold. The STOCH value of 21.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:5020.
ENEOS Holdings Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ¥23.51B | 17.63 | ― | 4.50% | 4.36% | 80.89% | |
69 Neutral | ¥74.54B | 19.05 | ― | 1.37% | -5.79% | 40.68% | |
69 Neutral | ¥218.76B | 13.99 | ― | 3.45% | -7.92% | -6.17% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | ¥1.60T | 3.95 | 2.23% | 3.07% | -11.80% | 87.51% | |
62 Neutral | ¥3.48T | 14.66 | -0.15% | 2.74% | -4.52% | 19.27% | |
62 Neutral | ¥98.93B | 14.53 | ― | 2.57% | -0.05% | -10.24% |
* Energy Sector Average
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ENEOS Holdings Corporate Events
ENEOS launches ¥50bn share buyback with full cancellation plan
May 14, 2026
ENEOS Holdings has approved a share buyback of up to 82 million common shares, representing 3.04% of its outstanding stock, for a maximum of ¥50 billion between May 21 and September 30, 2026. The board also plans to cancel all shares repurcha...
ENEOS to Buy Chevron Southeast Asia Downstream Assets in US$2.17 Billion Deal
May 14, 2026
ENEOS Holdings will acquire Chevron’s downstream fuels and lubricants marketing businesses in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia for about US$2.17 billion via a Singapore-based special purpose vehicle. The...
ENEOS Confronts Antitrust Indictment at Subsidiary ENEOS WING
May 14, 2026
ENEOS Holdings disclosed that its subsidiary ENEOS WING Corporation has been named in a criminal complaint by the Japan Fair Trade Commission and indicted by the Tokyo District Public Prosecutors Office for suspected violations of the Antimonopoly...
ENEOS Earnings Beat Forecast as Oil Price Spike Limits Inventory Losses
May 14, 2026
ENEOS Holdings reported fiscal 2025 consolidated results that significantly outpaced its earlier forecast, with revenue of ¥11.77 trillion and operating profit of ¥466.6 billion, both above expectations. Profit attributable to owners of ...
ENEOS Profit Surges as Dividend Rises and Outlook Strengthens
May 14, 2026
Japanese energy group ENEOS Holdings reported a sharp rebound in profitability for the fiscal year ended March 31, 2026, with operating profit surging nearly 340% to ¥466.6 billion despite a 4.5% drop in revenue to ¥11.77 trillion. Profi...
ENEOS to Cut JX Advanced Metals Stake in ¥250 Billion Tender, Book ¥110 Billion Gain
May 11, 2026
ENEOS Holdings will tender 57.3 million shares of its stake in JX Advanced Metals Corporation in a share buyback offer by the subsidiary, potentially raising about ¥250 billion and cutting its holding from 42.38% to 35.27%. The move is part o...
ENEOS Moves to Tighten Group Governance After Antitrust Indictment of Subsidiary
Apr 26, 2026
ENEOS Holdings has disclosed that its group company ENEOS WING Co., Ltd. was criminally indicted by Japan’s Fair Trade Commission and formally charged by the Tokyo District Public Prosecutors Office for alleged violations of the Antimonopoly...
ENEOS Unit Faces Criminal Antitrust Accusation Over Diesel Pricing
Apr 17, 2026
ENEOS Holdings said Japanese antitrust regulators have filed a criminal accusation against group subsidiary ENEOS Wing Corporation, alleging violations of the Antimonopoly Act tied to diesel fuel pricing for transportation companies. The company a...
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.