Keihan Holdings Co (9045) AI Stock Analysis

• Market Cap: ¥346.82B
• Dividend Yield: 1.19%
• Average Volume (3M): 194.07K
• Price to Earnings (P/E): 12.4
• Beta (1Y): 0.42
• Revenue Growth: -8.30%
• EPS Growth: 14.55%
• Country: JP
• Employees: 6,353
• Sector: Industrials
• Sector Strength: 72
• Industry: Conglomerates
• EPS (TTM): 63.92
• Shares Outstanding: 106,816,410
• 10 Day Avg. Volume: 198,110
• 30 Day Avg. Volume: 194,070
• PEG Ratio: 0.78
• Price to Book (P/B): 1.12
• Price to Sales (P/S): 1.09
• P/FCF Ratio: -19.65
• 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: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 68 Neutral
• Price Target: ¥3,587.00 ▲(7.27% Upside)

Keihan Holdings Co's overall stock score is driven primarily by its strong financial performance, characterized by robust revenue growth and profitability. However, technical indicators suggest a lack of strong momentum, and cash flow challenges highlight potential liquidity issues. The valuation is reasonable, providing a balanced view of the stock's potential.

Positive Factors

Operational Efficiency

Strong EBITDA and EBIT margins indicate effective cost management and operational efficiency, supporting long-term profitability.

Revenue Growth

Consistent revenue growth reflects the company's ability to expand its market presence and enhance its service offerings.

Cash Generation

Strong cash generation relative to net income ensures the company can fund operations and investments, supporting future growth.

Negative Factors

Cash Flow Challenges

Negative free cash flow growth indicates potential liquidity issues, which may constrain the company's ability to invest in new projects.

Leverage Concerns

While leverage is manageable, it requires careful monitoring to ensure financial stability and avoid excessive debt burdens.

Equity Ratio

A moderate equity ratio suggests reliance on debt, which could impact financial flexibility and risk profile in volatile markets.

Keihan Holdings Co Business Overview & Revenue Model

Company Description

Keihan Holdings Co., Ltd. (9045) is a comprehensive transportation and real estate company based in Japan, primarily engaged in railway operations, real estate development, and various associated services. The company operates a network of railways that connect key regions in the Kansai area, while also managing commercial facilities, hotels, and leisure establishments, effectively integrating transportation with urban development. Additionally, Keihan Holdings is involved in logistics and maintenance services, enhancing its portfolio beyond traditional rail services.

How the Company Makes Money

Keihan Holdings generates revenue primarily through its railway operations, which include passenger fares collected from its extensive train services. This is complemented by income from real estate activities, where the company develops and leases commercial properties, residential buildings, and hotels. The company also earns revenue from retail operations within its stations, advertising spaces, and various services offered at its facilities. Strategic partnerships with local businesses and municipalities help increase ridership and enhance service offerings, further contributing to its earnings. Additionally, the company may benefit from government subsidies or support for infrastructure projects, which can bolster its financial performance.

Keihan Holdings Co Financial Statement Overview

Summary

Keihan Holdings Co exhibits robust revenue growth and profitability, supported by strong operational margins. The balance sheet remains leveraged yet stable, with a satisfactory return on equity. Cash flow challenges, particularly in free cash flow, suggest the need for closer cash management. Overall, the financial health is positive but requires monitoring of liquidity and capital expenditure impacts.

Income Statement

Keihan Holdings Co has demonstrated strong revenue growth, with a notable increase of 3.77% in 2025 compared to 2024. The company maintains a solid gross profit margin of 29.28% for 2025, indicating efficient cost management. The net profit margin of 9.01% reflects healthy profitability. EBITDA and EBIT margins also show positive performance, at 20.96% and 13.42%, respectively, underscoring operational efficiency.

Balance Sheet

The balance sheet of Keihan Holdings Co shows a manageable debt-to-equity ratio of 1.24, suggesting balanced leverage. The return on equity is a solid 9.20%, reflecting effective use of shareholders' equity to generate profits. However, the equity ratio of 35.74% indicates moderate financial stability, as equity forms a fair portion of total assets.

Cash Flow

Keihan Holdings Co experiences challenges in cash flow management, with a negative free cash flow growth rate from 2024 to 2025 due to increased capital expenditures. The operating cash flow to net income ratio of 1.56 highlights strong cash generation capabilities relative to net income. However, the negative free cash flow to net income ratio indicates potential liquidity issues.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	305.42B	313.55B	302.15B	260.07B	258.12B	253.42B
Gross Profit	93.02B	91.81B	79.00B	63.55B	53.86B	40.62B
EBITDA	67.90B	65.71B	56.99B	40.72B	41.08B	24.39B
Net Income	28.54B	28.27B	24.89B	17.62B	9.59B	-4.57B
Balance Sheet
Total Assets	868.50B	859.86B	820.22B	774.85B	737.26B	764.25B
Cash, Cash Equivalents and Short-Term Investments	18.04B	15.80B	23.00B	16.86B	21.76B	27.34B
Total Debt	401.64B	381.54B	348.12B	352.18B	348.84B	351.60B
Total Liabilities	550.80B	545.35B	515.40B	501.34B	481.39B	515.65B
Stockholders Equity	310.18B	307.33B	298.59B	268.37B	251.36B	244.46B
Cash Flow
Free Cash Flow	0.00	-17.45B	7.93B	-2.93B	235.00M	-13.23B
Operating Cash Flow	0.00	44.01B	40.83B	16.93B	21.67B	15.28B
Investing Cash Flow	0.00	-63.20B	-26.93B	-13.11B	-17.64B	-24.94B
Financing Cash Flow	0.00	10.20B	-7.86B	-7.43B	-10.26B	21.30B

Keihan Holdings Co Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3344.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9045, the sentiment is Positive. The current price of 3344 is below the 20-day moving average (MA) of 3372.95, above the 50-day MA of 3301.38, and above the 200-day MA of 3258.75, indicating a bullish trend. The MACD of 29.91 indicates Negative momentum. The RSI at 62.81 is Neutral, neither overbought nor oversold. The STOCH value of 82.69 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9045.

Keihan Holdings Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9008	72 Outperform	¥462.63B	12.36	9.06%	2.62%	6.97%	8.61%
9003	72 Outperform	¥280.12B	13.89	―	2.30%	-1.88%	-9.94%
9045	68 Neutral	¥346.82B	12.37	8.87%	1.19%	-8.30%	14.55%
9048	66 Neutral	¥337.35B	12.28	―	2.26%	6.13%	-23.73%
9041	64 Neutral	¥607.64B	12.50	8.64%	1.82%	3.90%	5.62%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
9010	60 Neutral	¥111.77B	21.16	―	1.40%	4.80%	30.05%

Keihan Holdings Co Corporate Events

Keihan Holdings Increases Dividend Forecast Amid Strong Performance

Keihan Holdings Co., Ltd. has announced an increase in its dividend forecast, raising the expected dividend per share from 89 yen to 97 yen for the fiscal year ending March 31, 2026. This decision is part of the company’s strategy to enhance shareholder value through stable management, aggressive growth investments, and maintaining financial soundness, reflecting improved business performance and a commitment to a 30% dividend payout ratio.

The most recent analyst rating on (JP:9045) stock is a Hold with a Yen3587.00 price target. To see the full list of analyst forecasts on Keihan Holdings Co stock, see the JP:9045 Stock Forecast page.

Keihan Holdings Exceeds Financial Forecasts and Revises Year-End Projections

Keihan Holdings Co., Ltd. reported higher-than-expected financial results for the six months ended September 30, 2025, with significant increases in operating and ordinary profits due to strong real estate sales and demand related to Expo 2025. Consequently, the company revised its financial forecasts for the fiscal year ending March 31, 2026, projecting improved profits, which reflects positively on its operational efficiency and market positioning.

The most recent analyst rating on (JP:9045) stock is a Hold with a Yen3587.00 price target. To see the full list of analyst forecasts on Keihan Holdings Co stock, see the JP:9045 Stock Forecast page.

Keihan Holdings Reports Decreased Revenue but Optimistic Future Outlook

Keihan Holdings reported a decrease in operating revenue and profits for the six months ending September 30, 2025, compared to the previous year, with a notable decline in operating revenue by 8.8%. Despite this, the company saw a slight increase in profit attributable to owners of the parent, indicating resilience in its financial performance. The company has revised its earnings forecasts for the fiscal year ending March 31, 2026, projecting a 3.8% increase in operating revenue and a 15.3% rise in profit attributable to owners of the parent, reflecting optimism in future performance.

The most recent analyst rating on (JP:9045) stock is a Hold with a Yen3587.00 price target. To see the full list of analyst forecasts on Keihan Holdings Co stock, see the JP:9045 Stock Forecast page.