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Central Japan Railway Company
(9022)
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Rating:72Outperform
Price Target:
¥4,251.00
▲(9.22% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by improving fundamentals (strong recovery in revenue and profitability) and a favorable low P/E valuation. These positives are partially offset by balance-sheet leverage and historically uneven free cash flow, while technical indicators are mixed with the stock still below its 200-day moving average.
Positive Factors
Consistent Revenue Growth
Sustained top-line expansion over multiple years indicates durable demand on the Tokaido corridor and expanding station-related revenues. Persistent revenue growth improves scale economics, supports investment in network assets, and underpins longer-term earnings resilience even through economic cycles.
Negative Factors
High Absolute Debt
Large nominal debt levels constrain flexibility in a capital-intensive rail business. Even with improved leverage ratios, sizable debt increases sensitivity to earnings shocks and limits capacity for discretionary investment or accelerated shareholder returns if cash flow weakens.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Revenue Growth
Sustained top-line expansion over multiple years indicates durable demand on the Tokaido corridor and expanding station-related revenues. Persistent revenue growth improves scale economics, supports investment in network assets, and underpins longer-term earnings resilience even through economic cycles.
Read all positive factors
Central Japan Railway Company (9022) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥3.81T
Dividend Yield0.8%
Average Volume (3M)3.08M
Price to Earnings (P/E)7.0
Beta (1Y)0.35
Revenue Growth7.78%
EPS Growth16.25%
CountryJP
Employees29,569
SectorIndustrials
Sector Strength72
IndustryRailroads
Share Statistics
EPS (TTM)570.85
Shares Outstanding1,001,177,100
10 Day Avg. Volume2,800,340
30 Day Avg. Volume3,084,046
Financial Highlights & Ratios
PEG Ratio0.32
Price to Book (P/B)0.78
Price to Sales (P/S)1.97
P/FCF Ratio15.52
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥4,650.00Price Target Upside19.48% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)513.78
Revenue Forecast (FY)¥2.02T
Central Japan Railway Company Business Overview & Revenue Model
Company Description
Central Japan Railway Company engages in the railway and related businesses in Japan. The company operates through Transportation, Distribution, and Real Estate segments. It operates Tokaido Shinkansen, a transportation artery that links metropoli...
How the Company Makes Money
JR Central makes money primarily by selling passenger transportation services, with its largest earnings driver being fares and related charges from high-speed rail operations on the Tokaido Shinkansen. Revenue is generated through ticket sales (i...
Central Japan Railway Company Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
64
Positive
Cash Flow
68
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.01T | 1.83T | 1.71T | 1.40T | 935.14B |
| Gross Profit | 1.05T | 902.95B | 798.10B | 552.44B | 161.56B |
| EBITDA | 1.06T | 910.84B | 823.79B | 594.12B | 208.75B |
| Net Income | 552.87B | 458.42B | 384.41B | 219.42B | -51.93B |
Balance Sheet | |||||
| Total Assets | 10.88T | 10.32T | 9.94T | 9.51T | 9.45T |
| Cash, Cash Equivalents and Short-Term Investments | 1.22T | 1.55T | 2.31T | 2.44T | 2.47T |
| Total Debt | 4.31T | 4.81T | 4.88T | 4.98T | 4.97T |
| Total Liabilities | 5.74T | 5.66T | 5.72T | 5.71T | 5.84T |
| Stockholders Equity | 5.07T | 4.60T | 4.17T | 3.76T | 3.56T |
Cash Flow | |||||
| Free Cash Flow | 254.84B | 171.99B | 281.61B | 59.51B | -378.81B |
| Operating Cash Flow | 748.18B | 624.55B | 672.88B | 486.71B | 71.75B |
| Investing Cash Flow | -621.44B | -956.04B | -436.56B | -175.04B | -153.05B |
| Financing Cash Flow | -150.89B | -95.53B | -125.13B | -220.60B | -19.18B |
Central Japan Railway Company Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ¥3.81T | 6.97 | 11.27% | 0.80% | 7.78% | 16.25% | |
69 Neutral | ¥607.04B | 10.93 | 9.47% | 2.26% | 3.80% | 11.76% | |
67 Neutral | ¥555.46B | 12.18 | 9.54% | 3.08% | 10.12% | 5.84% | |
66 Neutral | ¥1.37T | 10.81 | 10.79% | 3.28% | 8.07% | 15.55% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
58 Neutral | ¥631.74B | 16.31 | 7.55% | 3.17% | -0.94% | -26.46% | |
57 Neutral | ¥4.15T | 17.50 | 8.29% | 2.04% | 7.74% | 3.47% |
* Industrials Sector Average
JP:9022
Central Japan Railway Company
3,847.00
107.36
2.87%
JP:9020
East Japan Railway Company
3,428.00
29.07
0.86%
JP:9142
Kyushu Railway Company
3,446.00
-325.64
-8.63%
JP:9007
Odakyu Electric Railway Co
1,688.00
23.27
1.40%
JP:9001
Tobu Railway Co
2,934.50
442.49
17.76%
JP:9021
West Japan Railway Company
2,927.00
-382.47
-11.56%
Central Japan Railway Company Corporate Events
JR Central Posts Mixed Q1 Results but Keeps Dividend as Profits Face Pressure
Jul 31, 2026
Central Japan Railway reported modest revenue growth for the three months to June 30, 2026, with operating revenues edging up year on year but operating income and net income attributable to shareholders declining, reflecting rising costs and pres...
Central Japan Railway Completes ¥20 Billion Share Buyback and Sets Treasury Share Cancellation
Jul 22, 2026
Central Japan Railway Company has completed a share repurchase program authorized by its board on April 28, 2026, buying back a total of 5,791,900 common shares for approximately 19.999 billion yen through market purchases on the Tokyo Stock Excha...
Central Japan Railway Advances Share Buyback Program Near Authorized Limit
Jul 3, 2026
Central Japan Railway Company has been actively executing a share repurchase program authorized by its board in April 2026, targeting up to 6.5 million common shares or ¥20 billion in total. The company operates in the rail transportation sec...
Central Japan Railway Advances Share Buyback With ¥7.8 Billion Repurchase in May
Jun 5, 2026
Central Japan Railway Company has executed a share repurchase program authorized by its board, buying back 2,182,700 common shares on the Tokyo Stock Exchange between May 1 and May 31, 2026. The purchases totaled about ¥7.79 billion and form ...
JR Central overhauls top management and board ahead of June 2026
May 18, 2026
Central Japan Railway Company has announced a broad reshuffle of its leadership, including changes to representative directors that will take effect following its June 23, 2026 shareholders’ meeting. Senior executives Ataru Kimura and Atsush...
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.