Iino Kaiun Kaisha,Ltd. (9119) AI Stock Analysis

• Market Cap: ¥161.67B
• Dividend Yield: 4.08%
• Average Volume (3M): 213.64K
• Price to Earnings (P/E): 10.0
• Beta (1Y): 0.82
• Revenue Growth: -10.66%
• EPS Growth: -17.73%
• Country: JP
• Employees: 680
• Sector: Industrials
• Sector Strength: 72
• Industry: Marine Shipping
• EPS (TTM): 39.77
• Shares Outstanding: 108,900,000
• 10 Day Avg. Volume: 199,360
• 30 Day Avg. Volume: 213,640
• PEG Ratio: -0.82
• Price to Book (P/B): 0.72
• Price to Sales (P/S): 0.74
• P/FCF Ratio: -27.56
• 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: 77 Outperform
• Price Target: ¥1,780.00 ▲(25.53% Upside)

Iino Kaiun Kaisha, Ltd. receives a strong overall score driven by its attractive valuation and solid technical indicators. The company's financial performance is stable, but attention is needed on cash flow management due to high capital expenditures. The absence of earnings call data and corporate events does not impact the score.

Positive Factors

Diversified revenue streams

A business model with time charters, voyage freight and long-term transport contracts reduces revenue volatility and supports utilization. Over a 2–6 month horizon, a higher mix of contracted charters and long-term cargos helps stabilize cash flows, planning for capex and debt servicing.

Profitability margins

Sustained gross and net margins indicate pricing power and operational cost control within shipping operations. These margins provide a durable buffer against freight volatility, supporting the company's ability to generate operating cash and fund maintenance capex and dividends over the medium term.

Balance sheet resilience

A sub-1.0 debt-to-equity and ~47% equity ratio signal moderate leverage and capital stability. Combined with a mid-teens ROE, this structure supports borrowing capacity for fleet investment while retaining resilience to cyclical shipping downturns across a multi-month horizon.

Negative Factors

Negative free cash flow

Persistent negative free cash flow from heavy capex reduces liquidity and constrains options for dividend funding, debt reduction or opportunistic vessel purchases. Unless operating cash flow sustainably rises or capex is managed, financing needs may increase over the next several months.

EBIT margin compression

A falling EBIT margin points to rising operating costs or lower operating efficiency. If this trend persists, it will erode the firm's ability to convert revenues to operating profit, weakening cash generation and making results more sensitive to freight rate swings over the medium term.

Moderate reliance on debt

An increasing leverage trend reduces financial flexibility and raises refinancing and interest-rate exposure. Over a 2–6 month window, elevated leverage can limit capacity to absorb weaker freight markets or fund necessary capex without accessing external financing or selling assets.

Iino Kaiun Kaisha,Ltd. Business Overview & Revenue Model

Company Description

Iino Kaiun Kaisha, Ltd. engages in shipping and real estate businesses worldwide. The company operates oil tankers, including very large crude carriers for the transport of crude oil and petroleum products; chemical tankers to transport liquid cargoes, such as petrochemical products, methanol, vegetable oil, ethanol, and lubricating oils; a fleet of large gas carriers that transport liquefied gases comprising liquefied petroleum gas (LPG) and liquefied natural gas; small gas carriers to transport LPG; and dry bulk carriers to transport coal for electric power generation, fertilizers, and wood chips for paper production. It also offers real estate services, including office leasing, building management, and warehousing services. In addition, the company provides photography studios and photo retouching services. Further, it offers hall and conference center management, accounting, IT related, insurance agency, and shipping agency and ship equipment sale services, as well as supports for general affairs and human resources-related operations. As of June 30, 2021, the company operated a fleet of 106 vessels. Iino Kaiun Kaisha, Ltd. was founded in 1899 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Iino Kaiun Kaisha generates revenue primarily through the freight services it offers, which include the transportation of bulk and containerized cargo across international waters. The company earns money by charging shipping fees to clients based on the volume and type of cargo transported. Key revenue streams include long-term charters and spot market contracts, allowing for flexible pricing based on market demand. Additionally, the company may have strategic partnerships with various logistics and freight forwarding companies, enhancing its service offerings and customer base. Factors contributing to its earnings include the global demand for shipping services, fluctuating freight rates, and operational efficiencies that reduce costs.

Iino Kaiun Kaisha,Ltd. Financial Statement Overview

Summary

Iino Kaiun Kaisha, Ltd. demonstrates a solid financial foundation with consistent revenue growth and strong profitability margins. However, the increase in operating expenses has compressed EBIT margins, and the debt-to-equity ratio has slightly increased, indicating a moderate reliance on debt financing. The cash flow situation requires attention due to negative free cash flow caused by high capital expenditures, which could pose a risk if not managed effectively.

Income Statement

The company has shown consistent revenue growth over the past years, with a revenue increase of 2.84% from 2024 to 2025. Gross profit margin remains solid at 20.1%, though slightly decreased compared to previous years. Net profit margin is strong at 12.95%, indicating effective cost management. However, a decline in EBIT margin to 12.05% suggests increased operating expenses or reduced efficiency in operations.

Balance Sheet

The balance sheet reflects a stable financial position with a reasonable debt-to-equity ratio of 0.84, though slightly increased from the previous year, indicating moderate leverage. The equity ratio stands at 47.48%, showing a healthy proportion of equity financing. Return on equity is robust at 12.63%, although it has decreased from the previous year, pointing to potential challenges in generating returns on equity capital.

Cash Flow

Cash flow analysis reveals a negative free cash flow, driven by significant capital expenditures. The operating cash flow to net income ratio is 1.67, indicating healthy cash generation relative to net income. However, the free cash flow to net income ratio is negative, reflecting the impact of high capital spending on cash flows available to shareholders. The decline in free cash flow growth suggests potential liquidity concerns if capital expenditures continue at this pace.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	133.49B	141.87B	137.95B	141.32B	104.10B	88.92B
Gross Profit	25.02B	28.52B	29.28B	28.73B	14.95B	13.33B
EBITDA	30.43B	35.35B	35.63B	37.87B	25.83B	20.50B
Net Income	14.89B	18.37B	19.75B	23.38B	12.53B	7.66B
Balance Sheet
Total Assets	300.80B	306.43B	293.23B	265.45B	247.13B	245.61B
Cash, Cash Equivalents and Short-Term Investments	13.45B	11.63B	17.88B	14.54B	11.66B	13.30B
Total Debt	123.16B	122.65B	123.70B	119.41B	125.90B	136.90B
Total Liabilities	157.38B	160.79B	161.10B	154.76B	155.80B	165.78B
Stockholders Equity	143.31B	145.50B	132.07B	110.67B	91.31B	79.73B
Cash Flow
Free Cash Flow	5.07B	-3.83B	17.43B	13.60B	3.28B	-11.59B
Operating Cash Flow	8.55B	30.73B	29.45B	35.27B	15.78B	19.28B
Investing Cash Flow	-2.54B	-30.79B	-22.01B	-18.49B	-3.12B	-22.99B
Financing Cash Flow	-6.88B	-8.32B	-3.87B	-13.25B	-14.82B	2.89B

Iino Kaiun Kaisha,Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1418.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9119, the sentiment is Positive. The current price of 1418 is below the 20-day moving average (MA) of 1521.90, below the 50-day MA of 1449.40, and above the 200-day MA of 1181.25, indicating a bullish trend. The MACD of 33.87 indicates Positive momentum. The RSI at 65.46 is Neutral, neither overbought nor oversold. The STOCH value of 63.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9119.

Iino Kaiun Kaisha,Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9110	79 Outperform	¥162.60B	7.33	12.71%	3.75%	-7.72%	27.03%
9119	77 Outperform	¥161.67B	9.97	―	4.08%	-10.66%	-17.73%
9171	74 Outperform	¥24.35B	8.44	―	1.29%	4.21%	35.32%
9104	73 Outperform	¥1.78T	7.14	10.90%	5.81%	0.36%	-14.86%
9107	70 Outperform	¥1.39T	11.46	11.32%	5.12%	-2.96%	-10.12%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
9305	62 Neutral	¥50.53B	10.31	―	2.84%	14.25%	124.92%