Airport Facilities Co., Ltd. (8864) AI Stock Analysis

• Market Cap: ¥51.79B
• Dividend Yield: 2%
• Average Volume (3M): 121.04K
• Price to Earnings (P/E): 28.2
• Beta (1Y): 0.56
• Revenue Growth: 26.99%
• EPS Growth: -26.97%
• Country: JP
• Employees: 124
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): -10.31
• Shares Outstanding: 52,979,350
• 10 Day Avg. Volume: 79,190
• 30 Day Avg. Volume: 121,040
• PEG Ratio: 0.44
• Price to Book (P/B): 0.51
• Price to Sales (P/S): 0.99
• P/FCF Ratio: 18.82
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Outperform
• Price Target: ¥1,111.00 ▲(8.60% Upside)

The overall stock score of 70 reflects strong financial performance, particularly in revenue and profit growth, and efficient operations. The valuation is fair with a reasonable P/E ratio and a modest dividend yield. Technical analysis indicates mixed signals with potential short-term weakness but longer-term strength. The absence of earnings call and corporate events data limits additional insights.

Airport Facilities Co., Ltd. Business Overview & Revenue Model

Company Description

Airport Facilities Co., Ltd. engages in the real estate, area heating and cooling, water supply and drainage service, and other businesses in Japan. The company leases various facilities comprising multi-purpose general buildings, hangars, maintenance plants, apartments, domestic air cargo terminal, aircraft washing facilities, sanitary disposal plant, and office buildings, as well as office equipment, applied electronic machines and apparatus, vehicles, aircraft, aircraft parts, other aircraft and space-related instruments, transportation equipment, etc. It also provides cooling and heating services, and shared telecommunication systems. In addition, the company owns, rents, operates, and manages waterworks, meeting spaces, parking spaces, hotels, restaurants and tearooms, sewerage, and airport-related facilities. Further, it engages in the renewable energy business. Additionally, the company collects, transports, and treats general and industrial wastes, as well as provides money and debt guarantee loans. Airport Facilities Co., Ltd. was founded in 1970 and is headquartered in Tokyo, Japan.

How the Company Makes Money

The company generates revenue primarily through contracts for airport facility management and maintenance services, as well as consulting services for airport development projects. Key revenue streams include fees from operating airport terminals, passenger service charges, and partnerships with airlines for ground handling services. Additionally, Airport Facilities Co., Ltd. may earn income from leasing retail space within terminals and collaborating with government entities on infrastructure development projects. Significant partnerships with airlines, travel agencies, and local governments can further bolster its earnings by providing integrated services and attracting more passengers.

Airport Facilities Co., Ltd. Financial Statement Overview

Summary

The company demonstrates strong financial health with robust revenue and profit growth, efficient operations, and stable financial leverage. The income statement is particularly strong, supported by improving margins and revenue growth. The balance sheet is solid with a healthy equity position, though there is room for improvement in leveraging debt. Cash flow management shows positive trends, with significant improvements in free cash flow.

Income Statement

The company has demonstrated strong income statement performance with consistent revenue growth and improving margins. The gross profit margin increased from 20.3% in 2024 to 21.4% in 2025, while the net profit margin improved from 7.8% to 8.3% over the same period. Revenue growth was robust at 19.9% from 2024 to 2025. EBIT and EBITDA margins have also shown positive trends, indicating efficient operations and cost management.

Balance Sheet

The balance sheet reflects a solid equity base with a moderate debt-to-equity ratio of 0.45 in 2025, down from 0.55 in 2024. However, the equity ratio decreased slightly from 52.6% to 55.2%, indicating a stable financial structure. Return on equity improved to 4.3% in 2025 from 3.5% in 2024, showcasing better utilization of shareholder funds. While debt levels are substantial, the company maintains a healthy equity position.

Cash Flow

Cash flow performance is positive with a significant improvement in free cash flow, which turned positive in 2025 to ¥1.64 billion from a negative ¥1.24 billion in the prior year. The operating cash flow to net income ratio was strong at 2.14, indicating efficient cash conversion. Free cash flow to net income ratio also improved, reflecting better cash management. However, cash flow from financing activities is negative, suggesting debt repayments or dividend payouts.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	33.90B	31.12B	25.95B	25.52B	23.78B	24.16B
Gross Profit	7.74B	6.77B	5.28B	4.61B	5.37B	5.71B
EBITDA	10.06B	9.21B	8.00B	7.22B	6.14B	3.98B
Net Income	3.29B	2.58B	2.02B	1.56B	821.41M	-933.79M
Balance Sheet
Total Assets	109.93B	108.58B	110.46B	100.40B	102.47B	100.43B
Cash, Cash Equivalents and Short-Term Investments	6.30B	7.16B	10.85B	8.60B	9.61B	6.58B
Total Debt	24.96B	27.05B	32.14B	27.30B	30.76B	34.71B
Total Liabilities	46.40B	45.99B	49.70B	43.03B	47.16B	45.46B
Stockholders Equity	60.81B	59.91B	58.13B	54.85B	52.78B	52.47B
Cash Flow
Free Cash Flow	0.00	1.64B	-1.24B	-163.71M	7.51B	2.10B
Operating Cash Flow	0.00	5.24B	784.58M	2.02B	8.47B	4.76B
Investing Cash Flow	0.00	-3.42B	-3.83B	1.20B	-449.19M	-2.70B
Financing Cash Flow	0.00	-5.66B	5.10B	-4.46B	-5.12B	-1.91B

Airport Facilities Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1023.00
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8864, the sentiment is Negative. The current price of 1023 is below the 20-day moving average (MA) of 1032.95, below the 50-day MA of 1044.98, and above the 200-day MA of 804.39, indicating a neutral trend. The MACD of -2.54 indicates Positive momentum. The RSI at 46.35 is Neutral, neither overbought nor oversold. The STOCH value of 20.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:8864.

Airport Facilities Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
8877	79 Outperform	¥85.64B	9.39	―	3.40%	-6.27%	-11.07%
3465	71 Outperform	¥82.61B	8.10	―	3.61%	24.18%	67.31%
8818	71 Outperform	¥82.56B	17.43	―	2.39%	4.72%	47.55%
8864	70 Outperform	¥51.79B	28.22	―	2.00%	26.99%	-26.97%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
3479	64 Neutral	¥72.39B	23.21	―	―	127.32%	-22.79%

Airport Facilities Co., Ltd. Corporate Events

Airport Facilities Co., Ltd. Reports Extraordinary Losses Due to Increased Costs

Airport Facilities Co., Ltd. has announced the recording of extraordinary losses in its financial results for the interim period ending March 31, 2026. These losses, amounting to ¥1,647 million in impairment losses and ¥469 million in retirement of fixed assets, are due to increased construction costs and revised dismantling methods for rental facilities at Haneda Airport. This financial adjustment reflects the company’s response to changing economic conditions and impacts its financial outlook for the fiscal year.

The most recent analyst rating on (JP:8864) stock is a Buy with a Yen1237.00 price target. To see the full list of analyst forecasts on Airport Facilities Co., Ltd. stock, see the JP:8864 Stock Forecast page.

Airport Facilities Co., Ltd. Revises Earnings Forecast with Positive Adjustments

Airport Facilities Co., Ltd. has revised its full-year consolidated earnings forecast for the fiscal year ending March 31, 2026, projecting higher net sales and profits due to increased rental income and favorable water service usage. Despite the positive forecast adjustments, extraordinary losses from asset retirements have led to a slight decrease in net income expectations, highlighting the company’s ongoing cost management challenges.

The most recent analyst rating on (JP:8864) stock is a Buy with a Yen1237.00 price target. To see the full list of analyst forecasts on Airport Facilities Co., Ltd. stock, see the JP:8864 Stock Forecast page.

Airport Facilities Co., Ltd. Seeks Transition to Tokyo Stock Exchange Standard Market

Airport Facilities Co., Ltd. has resolved to apply for a change in its market segment from the Tokyo Stock Exchange Prime Market to the Standard Market. This strategic move aligns with the company’s revised medium- to long-term management plan, which was updated in May 2025 to better address changes in the business environment and focus on sustainable corporate value. The transition aims to ensure stable compliance with listing requirements while allowing for flexible capital policy execution and resource allocation. The change is not expected to impact the company’s management approach regarding cost of capital and stock price, as AFC continues to pursue sustainable growth.

The most recent analyst rating on (JP:8864) stock is a Buy with a Yen1237.00 price target. To see the full list of analyst forecasts on Airport Facilities Co., Ltd. stock, see the JP:8864 Stock Forecast page.

Airport Facilities Co., Ltd. Announces Share Buyback and Cancellation Plan

Airport Facilities Co., Ltd. has announced a strategic decision to acquire and subsequently cancel its own shares to enhance shareholder value and improve capital efficiency. This move aligns with the company’s revised medium- to long-term management plan and its application to change its market segment on the Tokyo Stock Exchange, reflecting a commitment to optimizing its financial structure and shareholder returns.

The most recent analyst rating on (JP:8864) stock is a Buy with a Yen1237.00 price target. To see the full list of analyst forecasts on Airport Facilities Co., Ltd. stock, see the JP:8864 Stock Forecast page.

Airport Facilities Co., Ltd. Reports Mixed Q2 Financial Results

Airport Facilities Co., Ltd. reported its financial results for the second quarter of the fiscal year ending March 31, 2026, showing a significant increase in net sales and operating income compared to the previous year. Despite these gains, the profit attributable to owners of the parent decreased by 41.6%, reflecting challenges in maintaining profitability. The company also announced an increase in dividends per share, indicating a commitment to returning value to shareholders. The financial results suggest a mixed impact on AFC’s operations, with strong sales growth but declining profits, which may affect stakeholder confidence.

The most recent analyst rating on (JP:8864) stock is a Buy with a Yen1237.00 price target. To see the full list of analyst forecasts on Airport Facilities Co., Ltd. stock, see the JP:8864 Stock Forecast page.