East Japan Railway Company (JP:9020)
:9020
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East Japan Railway Company
(9020)
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Rating:74Outperform
Price Target:
¥3,984.00
▲(7.07% Upside)
Action:ReiteratedDate:11/28/25
The overall stock score of 74 reflects strong technical momentum and a solid financial recovery, despite the high leverage. The valuation is moderate, suggesting the stock is fairly priced. The absence of earnings call data and corporate events means these factors did not influence the score.
Positive Factors
Diversified revenue streams
JR East earns from fares, in-station retail, and real estate, creating multiple recurring cash engines. This diversification cushions core transit volatility: retail and leasing generate steady rental-like income tied to high footfall, supporting long-term cash stability beyond ticket sales.
Negative Factors
High leverage
Material debt levels increase financial vulnerability to interest rate moves and downturns. High leverage constrains strategic flexibility, raises refinancing risk, and can force prioritization of debt service over growth investments or shareholder returns during adverse cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified revenue streams
JR East earns from fares, in-station retail, and real estate, creating multiple recurring cash engines. This diversification cushions core transit volatility: retail and leasing generate steady rental-like income tied to high footfall, supporting long-term cash stability beyond ticket sales.
Read all positive factors
East Japan Railway Company (9020) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥4.02T
Dividend Yield1.69%
Average Volume (3M)2.14M
Price to Earnings (P/E)16.1
Beta (1Y)0.23
Revenue Growth4.61%
EPS Growth5.75%
CountryJP
Employees68,769
SectorIndustrials
Sector Strength72
IndustryRailroads
Share Statistics
EPS (TTM)63.98
Shares Outstanding1,134,412,200
10 Day Avg. Volume1,934,080
30 Day Avg. Volume2,139,663
Financial Highlights & Ratios
PEG Ratio1.06
Price to Book (P/B)1.17
Price to Sales (P/S)1.16
P/FCF Ratio-86.32
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥4,094.00Price Target Upside10.02% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)214.93
Revenue Forecast (FY)¥3.06T
East Japan Railway Company Business Overview & Revenue Model
Company Description
East Japan Railway Company operates as a passenger railway company in Japan and internationally. The company operates through Transportation, Retail & Services, Real Estate & Hotels, and Others segments. It offers passenger railway, freight, bus t...
How the Company Makes Money
JR East primarily makes money by transporting passengers and monetizing the high-traffic commercial ecosystem around its stations.
1) Transportation revenue (core):
- Passenger fares: The largest and most direct revenue source is fare revenue fro...
East Japan Railway Company Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
65
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.92T | 2.89T | 2.73T | 2.41T | 1.98T | 1.76T |
| Gross Profit | 1.04T | 1.03T | 964.48B | 717.71B | 382.90B | 39.94B |
| EBITDA | 777.02B | 795.65B | 748.45B | 541.14B | 249.97B | -120.36B |
| Net Income | 229.68B | 224.28B | 196.45B | 99.23B | -94.95B | -577.90B |
Balance Sheet | ||||||
| Total Assets | 10.10T | 10.26T | 9.85T | 9.41T | 9.16T | 8.98T |
| Cash, Cash Equivalents and Short-Term Investments | 184.76B | 233.67B | 281.00B | 215.19B | 171.29B | 198.27B |
| Total Debt | 4.94T | 4.97T | 4.88T | 4.79T | 4.72T | 4.37T |
| Total Liabilities | 7.18T | 7.39T | 7.12T | 6.91T | 6.74T | 6.42T |
| Stockholders Equity | 2.90T | 2.86T | 2.72T | 2.47T | 2.39T | 2.54T |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -38.68B | -26.81B | 26.17B | -392.55B | -955.45B |
| Operating Cash Flow | 0.00 | 732.25B | 688.10B | 581.75B | 190.51B | -189.97B |
| Investing Cash Flow | 0.00 | -783.42B | -690.62B | -565.51B | -526.36B | -749.40B |
| Financing Cash Flow | 0.00 | 3.66B | 66.10B | 26.83B | 304.64B | 983.38B |
East Japan Railway Company Technical Analysis
Negative
3721.00
Price Trends
3837.22
Negative
3908.14
Negative
3650.01
Negative
Market Momentum
-61.47
Positive
32.09
Neutral
1.28
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9020, the sentiment is Negative. The current price of 3721 is below the 20-day moving average (MA) of 3747.20, below the 50-day MA of 3837.22, and above the 200-day MA of 3650.01, indicating a bearish trend. The MACD of -61.47 indicates Positive momentum. The RSI at 32.09 is Neutral, neither overbought nor oversold. The STOCH value of 1.28 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:9020.
East Japan Railway Company Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ¥3.93T | 6.49 | 11.29% | 0.74% | 9.82% | 24.12% | |
74 Outperform | ¥4.02T | 16.15 | 7.85% | 1.69% | 4.61% | 5.75% | |
72 Outperform | ¥608.79B | 8.33 | 13.92% | 1.50% | 6.30% | -16.29% | |
66 Neutral | ¥1.43T | 10.37 | 11.29% | 3.00% | 5.48% | 33.67% | |
65 Neutral | ¥584.32B | 12.46 | 8.51% | 2.96% | -2.82% | -50.73% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | ¥554.20B | 5.46 | 9.94% | 2.49% | 1.72% | 10.19% |
* Industrials Sector Average
JP:9020
East Japan Railway Company
3,589.00
618.31
20.81%
JP:9022
Central Japan Railway Company
4,156.00
1,210.39
41.09%
JP:9009
Keisei Electric Railway Co
1,212.00
-278.32
-18.68%
JP:9007
Odakyu Electric Railway Co
1,642.00
164.00
11.10%
JP:9001
Tobu Railway Co
2,883.00
255.79
9.74%
JP:9021
West Japan Railway Company
3,174.00
241.85
8.25%
East Japan Railway Company Corporate Events
JR East Overhauls Group Governance and Compliance Framework After Incidents
Mar 18, 2026
JR East has launched a comprehensive governance overhaul after a series of incidents damaged stakeholder trust, acting on recommendations from an internal expert committee formed in July 2025. The company has updated its basic internal control pol...
JR East to Make Chuo Line Community Design a Wholly Owned Unit via Share Exchange
Feb 17, 2026
East Japan Railway Company will turn its consolidated subsidiary JR Chuo Line Community Design into a wholly owned subsidiary via a simplified share exchange effective March 17, 2026. The move is part of a broader restructuring under its “To...
JR East Expands Real Estate Split to Include Leasing in Rotational Asset Strategy
Feb 10, 2026
East Japan Railway Company has revised the terms of a previously announced simplified absorption-type company split under which JR East Real Estate Co., Ltd. will take over certain real estate operations. The change, approved by a director under b...
JR East Lifts Revenues for Fifth Year, Keeps FY2026.3 Outlook and Dividends Unchanged
Feb 2, 2026
East Japan Railway Company reported higher consolidated operating revenues for the fifth consecutive year in the third quarter of FY2026.3, driven by increased railway usage, stronger sales at EKINAKA station stores, and contributions from the ope...
JR East Lifts Revenue and Dividend as Profit Edges Higher Despite Margin Pressure
Feb 2, 2026
JR East reported consolidated operating revenues of ¥2.24 trillion for the nine months ended December 31, 2025, a 5.4% year-on-year increase, while operating income dipped 0.8% to ¥349.6 billion and ordinary income fell 2.2% to ¥302...
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.