Nagoya Railroad Co., Ltd. (JP:9048)
:9048
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Nagoya Railroad Co., Ltd.
(9048)
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Rating:65Neutral
Price Target:
¥1,954.00
▲(16.17% Upside)
Action:Reiterated
Date:05/16/26
The score is held back primarily by persistent negative free cash flow and meaningful leverage, despite improved profitability versus 2021 and positive operating cash flow. Offsetting this, technicals are supportive with the stock trading above key moving averages, and valuation is attractive with a low P/E and a moderate dividend yield.
Positive Factors
Diversified business model (rail, real estate, retail)
Meitetsu's revenue mix includes core passenger transport plus station-area real estate and complementary retail/services. This transit-oriented diversification creates multiple durable cash sources tied to foot traffic and land value, reducing single-segment exposure over the medium term.
Negative Factors
Persistent negative free cash flow
Chronic negative free cash flow implies capital spending or investments exceed internally generated cash, forcing reliance on external funding. Over months this elevates refinancing and funding risk, constrains discretionary investment or shareholder returns, and makes the company vulnerable if credit conditions tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified business model (rail, real estate, retail)
Meitetsu's revenue mix includes core passenger transport plus station-area real estate and complementary retail/services. This transit-oriented diversification creates multiple durable cash sources tied to foot traffic and land value, reducing single-segment exposure over the medium term.
Read all positive factors
Nagoya Railroad Co., Ltd. (9048) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥365.27B
Dividend Yield2.26%
Average Volume (3M)927.80K
Price to Earnings (P/E)128.8
Beta (1Y)0.36
Revenue Growth0.12%
EPS Growth-39.06%
CountryJP
Employees28,412
SectorIndustrials
Sector Strength72
IndustryConglomerates
Share Statistics
EPS (TTM)173.05
Shares Outstanding196,700,680
10 Day Avg. Volume441,610
30 Day Avg. Volume927,800
Financial Highlights & Ratios
PEG Ratio-0.38
Price to Book (P/B)0.70
Price to Sales (P/S)0.49
P/FCF Ratio-3.05
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)151.48
Revenue Forecast (FY)¥715.68B
Nagoya Railroad Co., Ltd. Business Overview & Revenue Model
Company Description
Nagoya Railroad Co., Ltd., together with its subsidiaries, engages in the railroad business in Japan. It operates through Traffic, Transport, Real Estate, Leisure and Services, Distribution, and Aviation Services segments. The Traffic segment enga...
How the Company Makes Money
Nagoya Railroad generates revenue primarily from transportation and related non-transport businesses. (1) Passenger transportation: The core earnings driver is fare revenue from its railway network, supplemented by bus services. Revenue is collect...
Nagoya Railroad Co., Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
55
Neutral
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 693.06B | 691.58B | 690.72B | 601.12B | 551.50B | 490.92B |
| Gross Profit | 102.35B | 97.80B | 100.95B | 85.73B | 70.23B | 46.01B |
| EBITDA | 82.87B | 82.96B | 84.17B | 73.96B | 61.39B | 41.85B |
| Net Income | 33.97B | 22.95B | 37.73B | 24.40B | 18.85B | 9.37B |
Balance Sheet | ||||||
| Total Assets | 1.48T | 1.58T | 1.45T | 1.30T | 1.23T | 1.19T |
| Cash, Cash Equivalents and Short-Term Investments | 41.04B | 57.29B | 58.64B | 60.39B | 55.29B | 50.93B |
| Total Debt | 631.74B | 685.73B | 585.51B | 499.54B | 476.07B | 468.57B |
| Total Liabilities | 986.87B | 1.07T | 950.59B | 839.67B | 802.28B | 775.76B |
| Stockholders Equity | 461.05B | 485.07B | 461.71B | 437.96B | 404.43B | 383.32B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -110.83B | -54.63B | -30.46B | -17.47B | -24.67B |
| Operating Cash Flow | 0.00 | 61.43B | 78.73B | 55.53B | 61.22B | 39.32B |
| Investing Cash Flow | 0.00 | -150.87B | -138.13B | -68.43B | -59.37B | -39.03B |
| Financing Cash Flow | 0.00 | 89.73B | 55.85B | 18.03B | 2.61B | -3.34B |
Nagoya Railroad Co., Ltd. Technical Analysis
Positive
1682.00
Price Trends
1767.43
Positive
1737.47
Positive
1690.02
Positive
Market Momentum
30.36
Negative
61.29
Neutral
67.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9048, the sentiment is Positive. The current price of 1682 is below the 20-day moving average (MA) of 1796.40, below the 50-day MA of 1767.43, and below the 200-day MA of 1690.02, indicating a bullish trend. The MACD of 30.36 indicates Negative momentum. The RSI at 61.29 is Neutral, neither overbought nor oversold. The STOCH value of 67.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9048.
Nagoya Railroad Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ¥673.64B | 11.39 | 8.64% | 1.82% | 0.49% | 15.11% | |
65 Neutral | ¥365.27B | 128.76 | ― | 2.26% | 0.12% | -39.06% | |
64 Neutral | ¥325.35B | 9.71 | 8.87% | 1.19% | 6.04% | 24.61% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | ¥1.12T | 13.78 | 6.64% | 2.07% | 8.73% | 17.35% | |
58 Neutral | ¥435.31B | 11.58 | 9.06% | 2.62% | 9.72% | 3.53% | |
44 Neutral | ¥767.42B | 40.78 | ― | 1.05% | -43.04% | -83.91% |
* Industrials Sector Average
JP:9048
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Nagoya Railroad Co., Ltd. Corporate Events
Nagoya Railroad Enhances Shareholder Perks to Reward Long-Term Investors
May 15, 2026
Nagoya Railroad has approved an enhancement to its shareholder benefit program aimed at rewarding loyal investors and making its stock more attractive for medium- to long-term holdings. The revised scheme introduces long-term shareholder incentive...
Nagoya Railroad Sets Minimum Dividend and Confirms 30%+ Payout Policy
May 15, 2026
Nagoya Railroad Co., Ltd. has announced a change to its dividend policy aimed at enhancing medium- to long-term corporate value while emphasizing capital efficiency. The company seeks to balance growth investments with reliable shareholder returns...
Nagoya Railroad Posts Higher Revenue but Lower Profit on Rising Costs and Weaker Real Estate
May 15, 2026
Nagoya Railroad reported a slight increase in operating revenue for the fiscal year ended March 31, 2026, as higher railroad passenger volumes and the consolidation of the Miyagi Transportation Group offset weaker performance in its Real Estate an...
Nagoya Railroad Profit Falls but Dividend Raised on Earnings Confidence
May 15, 2026
Nagoya Railroad reported consolidated operating revenues of ¥691.6 billion for the fiscal year ended March 31, 2026, essentially flat year on year, while operating income fell 14.0% to ¥36.2 billion and profit attributable to owners of t...
Nagoya Railroad to Exit Meitetsu World Transport with Sale to Shibusawa Logistics
May 11, 2026
Nagoya Railroad has agreed to transfer all shares of its wholly owned logistics subsidiary Meitetsu World Transport Co., Ltd. to Shibusawa Logistics Corporation, removing the unit from its consolidated group. The move reflects a reassessment of gr...
Nagoya Railroad Reshapes Executive Ranks Ahead of June Shareholders Meeting
Apr 27, 2026
Nagoya Railroad announced a series of officer changes approved in an April 27 board meeting, reshaping its governance structure ahead of the 162nd Ordinary Shareholders Meeting scheduled for late June 2026. The company plans to appoint Meitetsu Tr...
Nagoya Railroad Announces Leadership Shake-Up Ahead of June Shareholders Meeting
Feb 26, 2026
Nagoya Railroad Co., Ltd. has announced a series of leadership changes, including the planned retirement of Executive Vice-President and Representative Director Kiyomi Suzuki following the expiration of their term, with the formal decision to be m...
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.