Tokyo Kisen Co., Ltd. (9193) AI Stock Analysis

• Market Cap: ¥12.09B
• Dividend Yield: 4.99%
• Average Volume (3M): 17.48K
• Price to Earnings (P/E): 6.5
• Beta (1Y): 0.61
• Revenue Growth: 6.11%
• EPS Growth: 207.55%
• Country: JP
• Employees: 483
• Sector: Industrials
• Sector Strength: 72
• Industry: Marine Shipping
• EPS (TTM): -2.90
• Shares Outstanding: 10,010,000
• 10 Day Avg. Volume: 14,400
• 30 Day Avg. Volume: 17,476
• PEG Ratio: 0.01
• Price to Book (P/B): 0.32
• Price to Sales (P/S): 0.63
• P/FCF Ratio: -3.10
• 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: 63 Neutral
• Price Target: ¥1,294.00 ▲(26.24% Upside)

The overall stock score of 63 reflects a strong valuation with a low P/E ratio and high dividend yield, which are offset by weak technical indicators and operational challenges in financial performance. The absence of earnings call data and corporate events means these factors do not influence the score.

Positive Factors

Strong balance sheet

Low leverage and a growing shareholders' equity base provide durable financial flexibility. This supports funding of maintenance capex and operational needs during shipping cycles, reduces refinancing risk, and underpins resilience in capital allocation over the next several months.

Essential port services business model

Operating core tugboat and port-support services creates recurring, transaction-driven demand tied to vessel movements. These essential, localized services tend to be steady and tied to trade flows, offering a durable revenue base and competitive position in port logistics over time.

Positive revenue growth trend

A multi-percent revenue increase indicates growing utilization of services and underlying demand for port operations. Sustained top-line growth supports operational scale, capacity planning and long-term service contracts, improving prospects for steady cash generation if margins are stabilized.

Negative Factors

Negative EBIT and net loss

Persistent negative EBIT and net losses indicate structural operating shortfalls. This erodes retained earnings and limits the company's ability to self-fund investments or absorb shocks, requiring either margin recovery or external funding to restore sustainable profitability over months.

Negative free cash flow

Sustained negative free cash flow from elevated capex versus operating cash undermines liquidity and financial flexibility. Over a 2–6 month horizon this pressure can constrain reinvestment, dividend capacity, or force higher borrowing if operational cash conversion isn't improved.

Revenue volatility and margin deterioration

Revenue swings and declining gross margins point to unstable demand or rising costs that compress profitability. This variability complicates forecasting, weakens earnings quality and increases execution risk for margin recovery initiatives over the medium term.

Tokyo Kisen Co., Ltd. Business Overview & Revenue Model

Company Description

Tokyo Kisen Co.,Ltd. engages in the tugboat business in Japan and internationally. The company operates through Tugboat, Passenger Ship, and Store and Restaurant segments. The company provides harbor tug services, including assisting in berthing and docking operations of vessels; escort tug services, such as safeguarding the route of vessels carrying hazardous materials, as well as pilot boat services; emergency support and disaster prevention services comprising ship rescue, watch boat, oil spill recovery, fire extinguishing, and lifesaving services; and crew transfer and vessel services. It also offers marine logistics support services, which include mooring boat and patrol boat services; and passenger services consisting of sightseeing boats under the Marine Shuttle, Marine Rouge, and Sea Bus names, as well as provides car ferry services. The company was incorporated in 1947 and is headquartered in Yokohama-shi, Japan.

How the Company Makes Money

Tokyo Kisen generates revenue through multiple streams, primarily from its shipping services where it charges for the transportation of goods across domestic and international routes. The company also earns income from its harbor services, which include the handling and storage of cargo at ports. Additional revenue is generated through long-term contracts with businesses for logistics solutions, as well as partnerships with other maritime and logistics firms that enhance its service offerings. The demand for marine transportation and logistics services, coupled with efficient operational management, plays a crucial role in driving the company's earnings.

Tokyo Kisen Co., Ltd. Financial Statement Overview

Summary

Tokyo Kisen Co., Ltd. shows a mixed financial health profile. The balance sheet is strong with low leverage and improving return on equity. However, the income statement reveals operational challenges with negative EBIT and net profit margins, and cash flow management needs improvement.

Income Statement

Tokyo Kisen Co., Ltd. has shown fluctuating revenue patterns with a decrease in the latest year. The gross profit margin has decreased from prior years, and the company is operating at a net loss, impacting net profit margins negatively. Despite a positive EBITDA margin, the EBIT margin is negative, indicating operational challenges.

Balance Sheet

The company maintains a strong equity position with a low debt-to-equity ratio. The equity ratio indicates a stable financial structure, and the company has consistently increased its stockholders' equity. The return on equity shows improvement, suggesting better utilization of equity in recent periods.

Cash Flow

The free cash flow remains negative, reflecting high capital expenditures relative to operating cash flow. The operating cash flow to net income ratio is positive but shows volatility, indicating some inconsistency in converting earnings into cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	12.60B	12.04B	12.52B	11.87B	10.70B	9.89B
Gross Profit	1.62B	1.46B	2.33B	1.96B	1.20B	1.15B
EBITDA	4.00B	4.15B	2.38B	1.91B	1.25B	1.16B
Net Income	1.82B	2.04B	572.70M	416.13M	-192.94M	-94.19M
Balance Sheet
Total Assets	30.90B	31.26B	29.12B	28.67B	28.91B	26.99B
Cash, Cash Equivalents and Short-Term Investments	7.23B	7.89B	7.49B	8.97B	9.72B	8.68B
Total Debt	2.92B	2.96B	3.17B	3.04B	3.65B	2.07B
Total Liabilities	6.69B	6.47B	6.52B	7.02B	7.84B	5.72B
Stockholders Equity	23.15B	23.76B	21.60B	20.73B	20.18B	20.38B
Cash Flow
Free Cash Flow	0.00	-2.44B	-2.80B	-1.02B	-1.21B	-2.61B
Operating Cash Flow	0.00	1.21B	618.20M	1.50B	1.27B	231.73M
Investing Cash Flow	0.00	636.60M	-639.32M	-2.73B	-348.57M	1.40B
Financing Cash Flow	0.00	-432.55M	120.03M	-31.32M	1.42B	-238.58M

Tokyo Kisen Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1025.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9193, the sentiment is Positive. The current price of 1025 is below the 20-day moving average (MA) of 1175.80, below the 50-day MA of 1069.96, and above the 200-day MA of 973.65, indicating a bullish trend. The MACD of 49.25 indicates Positive momentum. The RSI at 72.33 is Negative, neither overbought nor oversold. The STOCH value of 76.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9193.

Tokyo Kisen Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9130	79 Outperform	¥8.86B	13.55	―	5.77%	3.22%	-87.75%
9171	74 Outperform	¥24.35B	8.44	―	1.29%	4.21%	35.32%
9173	74 Outperform	¥6.98B	30.00	―	0.30%	-0.38%	413.00%
9367	70 Outperform	¥19.98B	28.38	―	1.38%	7.07%	26.88%
9380	65 Neutral	¥11.58B	23.55	―	1.87%	-0.35%	11.44%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
9193	63 Neutral	¥12.09B	6.53	―	4.99%	6.11%	207.55%

Tokyo Kisen Co., Ltd. Corporate Events

Tokyo Kisen Reports Increased Sales but Decline in Profitability

Tokyo Kisen Co., Ltd. reported a 14% increase in net sales for the second quarter of 2025 compared to the same period in 2024, reaching 6,812 million yen. Despite this growth, the company’s profit attributable to owners of the parent decreased by 85.9%, highlighting challenges in maintaining profitability. The company’s comprehensive income also saw a significant decline of 97.9%, indicating potential operational or market challenges that may impact stakeholders.

The most recent analyst rating on (JP:9193) stock is a Hold with a Yen1026.00 price target. To see the full list of analyst forecasts on Tokyo Kisen Co., Ltd. stock, see the JP:9193 Stock Forecast page.