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Star Flyer Inc.
(9206)
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Rating:50Neutral
Price Target:
¥1,921.00
▼(-6.75% Downside)
Action:Reiterated
Date:08/04/26
The score is driven mainly by an improving but still fragile financial profile: profitability has returned, but leverage is elevated, margins are thin, and cash-flow consistency is uncertain. Technical indicators are broadly weak with the stock trading below major moving averages and negative MACD. Valuation is difficult to assess due to a negative P/E and no dividend yield data.
Positive Factors
Revenue and profitability recovery
Multi-year revenue recovery and a return to positive operating profit and net income through 2023–2026 indicate sustained demand restoration and improved unit economics. This durable turnaround enhances the airline’s ability to cover fixed costs, supports operational continuity and enables gradual reinvestment.
Negative Factors
Elevated leverage
Debt-to-equity around 1.50 constrains financial flexibility for a cyclical airline. Elevated leverage increases refinancing and interest-rate risk, limits capacity for fleet investment or route expansion, and reduces the company’s buffer to absorb demand or cost shocks over multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profitability recovery
Multi-year revenue recovery and a return to positive operating profit and net income through 2023–2026 indicate sustained demand restoration and improved unit economics. This durable turnaround enhances the airline’s ability to cover fixed costs, supports operational continuity and enables gradual reinvestment.
Read all positive factors
Star Flyer Inc. (9206) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥7.29B
Dividend YieldN/A
Average Volume (3M)4.36K
Price to Earnings (P/E)―
Beta (1Y)0.34
Revenue Growth5.12%
EPS Growth-117.24%
CountryJP
Employees806
SectorGeneral
Sector StrengthN/A
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)-205.65
Shares Outstanding3,788,242
10 Day Avg. Volume2,690
30 Day Avg. Volume4,356
Financial Highlights & Ratios
PEG Ratio-0.62
Price to Book (P/B)1.04
Price to Sales (P/S)0.17
P/FCF Ratio5.13
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)N/A
Revenue Forecast (FY)N/A
Star Flyer Inc. Business Overview & Revenue Model
Company Description
Star Flyer Inc. functions as an air carrier, providing both domestic and international flight services. In addition to air transportation, the company offers a range of passenger support services, such as ticketing, boarding assistance, and baggag...
How the Company Makes Money
Star Flyer Inc. makes money primarily by selling air transportation to passengers. Key revenue streams typically include (1) passenger ticket sales (base fares for scheduled domestic flights), (2) ancillary passenger revenues such as fees and add-...
Star Flyer Inc. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
48
Neutral
Cash Flow
50
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 45.44B | 44.80B | 42.90B | 40.02B | 32.27B | 21.13B |
| Gross Profit | 4.16B | 5.12B | 4.33B | 3.03B | 979.00M | -4.27B |
| EBITDA | 1.72B | 2.60B | 1.80B | 701.00M | -672.00M | -5.50B |
| Net Income | -474.00M | 434.00M | 1.92B | 912.00M | 73.00M | -4.99B |
Balance Sheet | ||||||
| Total Assets | 34.02B | 36.90B | 24.56B | 23.82B | 21.57B | 20.09B |
| Cash, Cash Equivalents and Short-Term Investments | 10.50B | 10.05B | 10.81B | 8.65B | 6.14B | 6.44B |
| Total Debt | 10.56B | 10.82B | 3.13B | 5.78B | 3.58B | 4.93B |
| Total Liabilities | 30.39B | 29.67B | 20.27B | 20.60B | 19.80B | 18.73B |
| Stockholders Equity | 3.63B | 7.22B | 4.29B | 3.22B | 1.76B | 1.36B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 1.47B | 5.16B | 409.00M | 64.00M | -5.25B |
| Operating Cash Flow | 0.00 | 1.56B | 5.27B | 529.00M | 122.00M | -5.23B |
| Investing Cash Flow | 0.00 | -1.51B | -427.00M | -267.00M | -159.00M | 1.07B |
| Financing Cash Flow | 0.00 | -998.00M | -2.65B | 2.17B | -356.00M | -5.72B |
Star Flyer Inc. Technical Analysis
Neutral
2060.00
Price Trends
1932.38
Negative
1939.62
Negative
2016.98
Negative
Market Momentum
-2.99
Negative
50.06
Neutral
39.26
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9206, the sentiment is Neutral. The current price of 2060 is above the 20-day moving average (MA) of 1923.70, above the 50-day MA of 1932.38, and above the 200-day MA of 2016.98, indicating a neutral trend. The MACD of -2.99 indicates Negative momentum. The RSI at 50.06 is Neutral, neither overbought nor oversold. The STOCH value of 39.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:9206.
Star Flyer Inc. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥1.50T | 8.48 | ― | 2.20% | 16.11% | 11.39% | |
72 Outperform | ¥1.32T | 11.24 | 11.29% | 3.27% | 9.20% | -3.00% | |
70 Outperform | ¥7.65B | 6.10 | ― | 0.47% | 2.06% | 11.44% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | ¥7.29B | -9.36 | ― | ― | 5.12% | -117.24% | |
49 Neutral | ¥6.22B | 21.72 | ― | 0.30% | -1.50% | -7.60% |
* General Sector Average
JP:9206
Star Flyer Inc.
1,925.00
-378.00
-16.41%
JP:9201
Japan Airlines Co
2,996.00
-106.49
-3.43%
JP:9017
Niigata Kotsu Co., Ltd.
1,992.00
-88.61
-4.26%
JP:9173
Tokai Kisen Co., Ltd.
2,835.00
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JP:9202
ANA Holdings Inc.
3,040.00
94.46
3.21%
JP:9204
Skymark Airlines Inc.
418.00
-64.28
-13.33%
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.