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

• Market Cap: ¥12.11B
• Dividend Yield: 1.87%
• Average Volume (3M): 20.44K
• Price to Earnings (P/E): 11.0
• Beta (1Y): 0.40
• 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: ¥468.00 ▲(23.16% 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

Moderate Leverage / Balance Sheet Stability

A debt-to-equity of ~0.62 suggests the company uses leverage but maintains a conservative capital structure for the marine shipping sector. This level supports funding capital-intensive vessels while preserving creditor flexibility, helping sustain operations through cyclical demand over months.

Consistent Profitability Margins

Stable gross and net margins indicate the business has some enduring cost discipline and pricing that support baseline profitability. In a capital- and fuel-sensitive industry, consistent margins provide a foundation for reinvestment and better predictability of earnings over intermediate horizons.

Strong Operating Cash Flow Conversion

An operating cash flow to net income ratio near 5.15 implies the company converts accounting profits into cash efficiently. Durable cash generation underpins the ability to service debt, fund recurring capex, and absorb shipping-cycle volatility without immediate reliance on external financing.

Negative Factors

Negative Free Cash Flow

Negative free cash flow growth signals capex or working capital needs exceed operating cash generation. Over a multi-month horizon this can force higher borrowing, asset sales, or constrained reinvestment, limiting the firm's ability to modernize fleet or pursue growth without external funding.

Weak Revenue Trend

A declining top line, even modestly, suggests pressure on demand, pricing, or market share. For a fixed-cost shipping operator, sustained revenue contraction reduces utilization leverage, compresses margins, and makes it harder to cover high recurring vessel and maintenance costs over coming quarters.

Low Return on Equity and Slow Asset Growth

An ROE ~3.3% indicates limited efficiency in converting shareholder capital into profit. Combined with a middling equity ratio and slow asset growth, this suggests reinvested earnings are producing modest returns, which may constrain long-term shareholder value creation absent structural improvement.

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

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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	3.90B	3.97B	3.50B	3.79B	3.63B	3.53B
EBITDA	1.97B	1.93B	1.51B	1.92B	1.96B	2.01B
Net Income	541.56M	578.02M	317.01M	197.71M	635.84M	393.89M
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	9.64B	9.24B	9.01B	9.76B
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	-2.00B	1.16B	1.39B	4.10B
Operating Cash Flow	0.00	2.98B	756.57M	1.65B	2.17B	4.42B
Investing Cash Flow	0.00	-4.41B	-891.93M	-373.83M	-576.87M	482.99M
Financing Cash Flow	0.00	1.05B	-99.55M	-516.72M	-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 428.50, below the 50-day MA of 422.82, and above the 200-day MA of 362.76, indicating a bullish trend. The MACD of 3.49 indicates Positive momentum. The RSI at 57.17 is Neutral, neither overbought nor oversold. The STOCH value of 43.89 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
9171	74 Outperform	¥22.82B	3.25	―	1.29%	4.21%	35.32%
9193	72 Outperform	¥12.31B	5.41	―	4.99%	6.11%	207.55%
9367	70 Outperform	¥21.38B	15.36	―	1.38%	7.07%	26.88%
9380	65 Neutral	¥12.11B	10.98	―	1.87%	-0.35%	11.44%
9130	65 Neutral	¥18.17B	1,812.20	―	5.77%	3.22%	-87.75%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
9173	50 Neutral	¥6.62B	19.26	―	0.30%	-0.38%	413.00%