Azuma Shipping Co., Ltd. (9380) AI Stock Analysis

• Market Cap: ¥11.85B
• Dividend Yield: 1.87%
• Average Volume (3M): 20.44K
• Price to Earnings (P/E): 24.1
• Beta (1Y): 0.44
• Revenue Growth: -0.35%
• EPS Growth: 11.44%
• Country: JP
• Employees: 824
• Sector: Industrials
• Sector Strength: 72
• Industry: Marine Shipping
• EPS (TTM): 8.65
• Shares Outstanding: 28,923,000
• 10 Day Avg. Volume: 17,390
• 30 Day Avg. Volume: 20,436
• PEG Ratio: 0.20
• Price to Book (P/B): 0.53
• Price to Sales (P/S): 0.23
• P/FCF Ratio: -5.71
• 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: 65 Neutral
• Price Target: ¥458.00 ▲(20.53% Upside)
• Action: Reiterated Date: 11/28/25
• Date: Action: Reiterated 11/28/25

Azuma Shipping Co., Ltd. has a moderate overall stock score driven by stable financial performance and positive technical indicators. However, valuation concerns due to a high P/E ratio and low dividend yield weigh on the score. The absence of earnings call data and corporate events limits additional insights.

Positive Factors

Balance sheet stability

An acceptable debt-to-equity (~0.62) and ~42% equity ratio signal a conservative capital structure for a shipping firm. This reduces refinancing and default risk, preserves borrowing capacity for fleet renewal, and supports steady operations across shipping cycles over the medium term.

Stable margins

Consistent gross margins (~10%) and modest net margins (~1.5%) indicate the company retains pricing power and cost discipline in a capital-intensive industry. Stable margins help absorb freight volatility, support ongoing operating viability, and underpin medium-term profitability even if growth is muted.

Operating cash flow quality

A strong operating cash flow to net income ratio (~5.15) shows earnings are backed by cash generation, improving financial resilience. This cash conversion supports debt servicing and working capital needs, reducing reliance on accounting earnings and aiding financing of operations in the coming months.

Negative Factors

Negative free cash flow

Persistent negative free cash flow indicates capital expenditures outstripping operating cash generation. Over a 2-6 month horizon this can strain liquidity, limit dividend capacity, and force external financing or delayed maintenance, increasing financial cost and operational risk if not corrected.

Revenue decline

A recent revenue decline (~0.9%) signals weakened demand or competitive pressure. For a shipping company, sustained top-line contraction reduces scale economies, weakens contract leverage, and can permanently impair utilization and pricing power, pressuring margins and long-term growth prospects.

Low return on equity

An ROE around 3.3% shows the business generates limited returns on shareholder capital. Structurally low ROE can restrict reinvestment returns, make equity financing less attractive, and imply the company may struggle to compound shareholder value without strategic changes to improve margins or asset efficiency.

Azuma Shipping Co., Ltd. Business Overview & Revenue Model

Company Description

Azuma Shipping Co., Ltd. engages in logistics, maritime transportation, real estate, and other businesses in Japan and internationally. The company offers coastal and international shipping services; and domestic and international transportation services, including truck transportation, car-ferry transportation, project cargo, large construction machinery transportation, vessel chartering, ocean container transportation and trucking, and LCL services, as well as air freight services. It also provides export/import related services that consist of proxy services for export and import customs clearance, terminal operations, and warehousing and packing services; and third party logistics and environmental solutions. In addition, the company offers harbor transportation services, such as marine cargo handling, stevedoring, barge transportation and cargo sorting, and storage; and land transportation services, including general cargo transportation, ocean container hauling, bulk cement transportation, and removal services, as well as warehousing, warehouse and factory work contracting, and steamship company agency services. Further, it operates oceangoing/coastal cement tankers and general cargo vessels; leases real estate properties; and produces and sells agricultural products. The company was founded in 1917 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Azuma Shipping generates revenue primarily through its shipping services, which include the transport of bulk goods, containerized cargo, and logistics solutions tailored to client needs. Key revenue streams include freight charges for shipping services, logistics management fees, and ancillary services such as customs clearance and warehousing. The company may also benefit from long-term contracts with major clients, ensuring a steady stream of income. Additionally, strategic partnerships with port authorities and logistics companies enhance its operational capabilities, leading to increased efficiency and cost savings that contribute to overall profitability.

Azuma Shipping Co., Ltd. Financial Statement Overview

Summary

Azuma Shipping Co., Ltd. presents a mixed financial picture with stable profitability and leverage metrics but faces challenges in revenue growth and free cash flow generation. The company's financial health is relatively stable, yet it must address cash flow constraints and stimulate revenue growth for improved future performance.

Income Statement

Azuma Shipping Co., Ltd. shows a stable income statement with a consistent gross profit margin around 10% and a net profit margin of about 1.5%, indicating moderate profitability. However, the revenue growth has been negative, with a decline of approximately 0.9% in the most recent year, which could be a concern for future growth prospects.

Balance Sheet

The balance sheet indicates a moderate debt-to-equity ratio of around 0.62, showing an acceptable level of leverage in the marine shipping industry. The return on equity (ROE) is approximately 3.3%, reflecting modest returns to shareholders. The equity ratio of around 42% suggests a stable financial structure, although asset growth is slow.

Cash Flow

The cash flow statement reveals challenges, with negative free cash flow growth and a free cash flow to net income ratio indicating cash flow pressure. Despite a strong operating cash flow to net income ratio of about 5.15, the negative free cash flow suggests high capital expenditures that may not be sustainable without improved operating cash flow.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	39.30B	39.40B	39.75B	41.47B	39.61B	39.00B
Gross Profit	3.93B	3.97B	3.57B	3.87B	3.73B	3.66B
EBITDA	2.03B	2.23B	1.86B	1.88B	2.35B	2.01B
Net Income	542.17M	578.02M	317.01M	197.70M	635.84M	393.90M
Balance Sheet
Total Assets	41.29B	41.16B	38.73B	37.55B	37.35B	36.00B
Cash, Cash Equivalents and Short-Term Investments	5.98B	5.69B	6.05B	6.26B	5.48B	5.12B
Total Debt	10.21B	10.81B	8.87B	8.29B	7.90B	8.49B
Total Liabilities	23.85B	23.58B	21.75B	21.23B	21.22B	20.53B
Stockholders Equity	17.31B	17.46B	16.86B	16.21B	16.06B	15.42B
Cash Flow
Free Cash Flow	0.00	-1.61B	-1.94B	1.11B	1.37B	4.07B
Operating Cash Flow	0.00	3.03B	824.76M	1.67B	2.17B	4.42B
Investing Cash Flow	0.00	-4.41B	-891.93M	-373.83M	-576.87M	482.99M
Financing Cash Flow	0.00	1.01B	-167.00M	-536.72M	-1.25B	-3.47B

Azuma Shipping Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 380.00
• 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:9380, the sentiment is Positive. The current price of 380 is below the 20-day moving average (MA) of 423.50, below the 50-day MA of 409.06, and above the 200-day MA of 354.69, indicating a bullish trend. The MACD of 3.50 indicates Positive momentum. The RSI at 59.26 is Neutral, neither overbought nor oversold. The STOCH value of 23.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9380.

Azuma Shipping Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9130	79 Outperform	¥10.74B	16.58	―	5.77%	3.22%	-87.75%
9171	74 Outperform	¥27.63B	7.14	―	1.29%	4.21%	35.32%
9193	72 Outperform	¥12.88B	35.18	―	4.99%	6.11%	207.55%
9367	70 Outperform	¥21.36B	28.83	―	1.38%	7.07%	26.88%
9380	65 Neutral	¥11.85B	24.10	―	1.87%	-0.35%	11.44%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
9173	50 Neutral	¥6.84B	18.58	―	0.30%	-0.38%	413.00%