Keisei Electric Railway Co (9009) AI Stock Analysis

• Market Cap: ¥627.07B
• Dividend Yield: 1.47%
• Average Volume (3M): 1.25M
• Price to Earnings (P/E): 8.3
• Beta (1Y): 0.68
• Revenue Growth: 6.30%
• EPS Growth: -16.29%
• Country: JP
• Employees: 12,283
• Sector: Industrials
• Sector Strength: 72
• Industry: Railroads
• EPS (TTM): 22.83
• Shares Outstanding: 517,233,600
• 10 Day Avg. Volume: 1,049,760
• 30 Day Avg. Volume: 1,251,646
• PEG Ratio: -0.52
• Price to Book (P/B): 1.29
• Price to Sales (P/S): 2.06
• P/FCF Ratio: -29.80
• 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: 72 Outperform
• Price Target: ¥1,531.00 ▲(23.97% Upside)

Keisei Electric Railway Co's strong financial performance and attractive valuation are the primary drivers of its stock score. However, technical indicators suggest a neutral market position, and cash flow challenges could pose risks if not addressed.

Positive Factors

Revenue Growth

Strong revenue growth indicates expanding operations and successful market penetration, supporting long-term business sustainability.

Profitability

Improved margins reflect efficient cost management and robust demand, enhancing the company's ability to generate profits consistently.

Balance Sheet Health

A stable balance sheet with moderate leverage and strong equity reliance supports financial stability and future growth opportunities.

Negative Factors

Cash Flow Challenges

Decreasing operating cash flow and negative free cash flow due to high capital expenditures may strain liquidity and limit investment capacity.

Earnings Volatility

Volatile earnings margins suggest potential operational inefficiencies, which could affect profitability and require strategic adjustments.

Liability Increase

Rising liabilities may increase financial risk, especially if revenue growth does not keep pace, potentially impacting long-term financial health.

Keisei Electric Railway Co Business Overview & Revenue Model

Company Description

Keisei Electric Railway Co., Ltd. (9009) is a prominent Japanese transportation company primarily engaged in railway operations, offering services that connect Tokyo with the Chiba Prefecture. The company operates a network of railway lines, including the Keisei Line, which facilitates convenient access to Narita International Airport. In addition to its core railway services, Keisei Electric Railway is involved in real estate development, bus transportation, and various ancillary services such as retail and tourism, enhancing the travel experience for its customers.

How the Company Makes Money

Keisei Electric Railway generates revenue primarily through passenger fares from its railway services, which constitute the largest portion of its income. Additional revenue streams include income from real estate ventures, such as leasing commercial properties and developing residential projects near its railway stations. The company also earns money from its bus transportation operations and various retail and dining establishments located within its stations. Partnerships with tourism entities, including airport services at Narita, further contribute to its earnings, as they drive passenger traffic and increase fare revenues.

Keisei Electric Railway Co Financial Statement Overview

Summary

Keisei Electric Railway Co demonstrates strong revenue and profit recovery with solid margins. However, cash flow management challenges due to high capital expenditures and decreased operating cash flow could impact future liquidity.

Income Statement

Keisei Electric Railway Co has shown a strong recovery in revenue and profitability over recent years. The company increased its total revenue from ¥214,157 million in 2022 to ¥319,314 million in 2025. The gross profit margin improved to 27.77% in 2025, and the net profit margin stood at 21.9%, reflecting efficient cost management and robust demand. However, EBIT and EBITDA margins have been slightly volatile, with EBIT margin at 11.28% and EBITDA margin at 42.59% in 2025, indicating room for operational efficiency improvements.

Balance Sheet

Keisei Electric Railway Co maintains a stable balance sheet with a debt-to-equity ratio of 0.65 in 2025, indicating moderate leverage. The equity ratio is 46.52%, showing a healthy reliance on equity financing. Return on equity improved significantly to 13.74% in 2025, reflecting strong profitability. However, the company's total liabilities have increased over the years, which could pose a risk if revenue growth slows.

Cash Flow

The cash flow analysis shows a mixed performance. Operating cash flow has decreased from ¥60,045 million in 2024 to ¥41,149 million in 2025, and free cash flow turned negative at ¥-22,048 million in 2025, largely due to high capital expenditures. The operating cash flow to net income ratio is 0.59, suggesting a need to enhance cash generation efficiency, while the free cash flow to net income ratio indicates challenges in covering investments with operational earnings.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	322.35B	319.31B	296.51B	252.34B	214.16B	207.76B
Gross Profit	87.31B	88.69B	74.72B	54.16B	33.12B	18.66B
EBITDA	139.85B	136.00B	157.85B	41.85B	29.97B	359.00M
Net Income	69.36B	69.96B	87.66B	26.93B	-4.44B	-30.29B
Balance Sheet
Total Assets	1.09T	1.09T	1.06T	965.57B	900.35B	900.70B
Cash, Cash Equivalents and Short-Term Investments	46.73B	51.53B	82.46B	34.61B	25.51B	29.13B
Total Debt	370.02B	329.40B	364.69B	359.82B	339.65B	327.59B
Total Liabilities	560.65B	569.46B	595.05B	554.63B	512.64B	504.65B
Stockholders Equity	517.34B	508.99B	451.62B	394.91B	369.76B	378.64B
Cash Flow
Free Cash Flow	0.00	-22.05B	5.51B	14.41B	-9.40B	-24.07B
Operating Cash Flow	0.00	41.15B	60.05B	47.24B	28.83B	9.28B
Investing Cash Flow	0.00	-9.24B	28.14B	-29.50B	-33.76B	-28.68B
Financing Cash Flow	0.00	-62.87B	-40.26B	-20.92B	1.24B	21.50B

Keisei Electric Railway Co Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1235.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9009, the sentiment is Negative. The current price of 1235 is below the 20-day moving average (MA) of 1243.33, below the 50-day MA of 1278.70, and below the 200-day MA of 1354.94, indicating a bearish trend. The MACD of -11.04 indicates Negative momentum. The RSI at 42.95 is Neutral, neither overbought nor oversold. The STOCH value of 55.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:9009.

Keisei Electric Railway Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9044	78 Outperform	¥326.98B	13.53	―	1.64%	6.55%	-12.49%
9009	72 Outperform	¥627.07B	8.32	13.92%	1.47%	6.30%	-16.29%
9007	70 Outperform	¥603.11B	13.85	8.51%	2.97%	-2.82%	-50.73%
9142	70 Neutral	$623.58B	14.45	9.26%	2.66%	10.39%	32.43%
9021	66 Neutral	$1.39T	10.83	11.29%	3.02%	5.48%	33.67%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
9001	62 Neutral	¥503.61B	10.20	8.78%	2.51%	1.72%	10.19%

Keisei Electric Railway Co Corporate Events

Keisei Electric Railway Expands Shareholder Privileges

Keisei Electric Railway Co., Ltd. announced an expansion of its shareholder courtesy privilege program to improve convenience and attractiveness for shareholders. The changes include new exchange options for transport passes and expanded use of supermarket discount coupons, set to be implemented by May 2026, potentially increasing shareholder satisfaction and engagement.

Keisei Electric Railway Reports Revenue Growth Amidst Profit Decline

Keisei Electric Railway Co., Ltd. reported a 4.2% increase in operating revenue for the six months ending September 30, 2025, despite a decline in operating and ordinary profit. The company also announced a three-for-one stock split and maintained its dividend forecast, reflecting its commitment to shareholder returns. The financial results indicate a stable financial position with a slight improvement in the equity-to-asset ratio, suggesting resilience in its operations amidst market challenges.