TBS HOLDINGS INC. (9401) AI Stock Analysis

• Market Cap: ¥940.76B
• Dividend Yield: 1.3%
• Average Volume (3M): 212.77K
• Price to Earnings (P/E): 16.6
• Beta (1Y): 0.90
• Revenue Growth: 4.55%
• EPS Growth: -7.49%
• Country: JP
• Employees: 7,992
• Sector: Communication Services
• Sector Strength: 97
• Industry: Broadcasting
• EPS (TTM): 175.91
• Shares Outstanding: 165,591,060
• 10 Day Avg. Volume: 239,120
• 30 Day Avg. Volume: 212,773
• PEG Ratio: 0.89
• Price to Book (P/B): 0.73
• Price to Sales (P/S): 1.69
• P/FCF Ratio: -2.43K
• 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: 70 Outperform
• Price Target: ¥6,472.00 ▲(13.86% Upside)

TBS HOLDINGS INC. presents a strong financial performance with robust revenue growth and profitability, though cash flow challenges require attention. The technical analysis indicates positive momentum, while the valuation suggests the stock is fairly priced. The absence of earnings call and corporate events data limits additional insights.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective business strategies, supporting long-term financial health.

Balance Sheet Health

A strong balance sheet with minimal leverage enhances financial stability and provides flexibility for future investments.

Profitability

High profitability margins reflect efficient operations and cost management, contributing to sustainable long-term growth.

Negative Factors

Cash Flow Challenges

Negative free cash flow indicates potential liquidity issues, necessitating careful cash management to maintain operational flexibility.

Earnings Growth Decline

Declining earnings growth can signal challenges in maintaining profitability, impacting investor confidence and future financial performance.

Liquidity Constraints

Moderate cash generation relative to net income suggests liquidity constraints, which could limit the company's ability to fund operations and growth initiatives.

TBS HOLDINGS INC. Business Overview & Revenue Model

Company Description

TBS HOLDINGS INC. (9401) is a Japanese company primarily engaged in the logistics and transportation sector, specializing in the provision of comprehensive supply chain solutions. The company operates through various segments, including transportation, warehousing, and distribution services, catering to a diverse range of industries. TBS HOLDINGS is known for its commitment to efficiency and innovation, offering services such as freight forwarding, customs clearance, and integrated logistics management.

How the Company Makes Money

TBS HOLDINGS INC. generates revenue primarily through its logistics and transportation services. The company earns money by charging clients for freight transportation, warehousing solutions, and value-added services such as inventory management and order fulfillment. Key revenue streams include contracts with large corporate clients who require consistent and reliable logistics support, as well as one-time shipments for smaller businesses. Additionally, TBS HOLDINGS may benefit from strategic partnerships with shipping companies and technology providers, enhancing its service offerings and operational efficiency. The company's focus on expanding its service portfolio and geographical reach also contributes to its overall earnings.

TBS HOLDINGS INC. Financial Statement Overview

Summary

TBS HOLDINGS INC. demonstrates strong revenue growth and profitability, supported by a robust balance sheet with minimal leverage. However, the cash flow statement indicates potential liquidity challenges due to significant capital expenditures. The company remains fundamentally strong, with a need for strategic cash flow management to sustain long-term growth and stability.

Income Statement

TBS HOLDINGS INC. demonstrates strong revenue growth with a consistent upward trajectory, achieving a 3.14% increase in revenue from 2024 to 2025. The gross profit margin remains robust at 31.67% for 2025, indicating effective cost management. The net profit margin is also impressive at 10.80%, showcasing profitability in operations. EBIT and EBITDA margins further reinforce operational efficiency, showing substantial margins of 4.71% and 21.54% respectively. These figures highlight a stable and profitable income statement.

Balance Sheet

The balance sheet reflects a solid financial position with a low debt-to-equity ratio of 0.02 in 2025, indicating minimal leverage and a strong equity base. The return on equity stands at 4.69%, suggesting reasonable returns for shareholders. The equity ratio is healthy at 72.19%, underscoring a strong capital structure with significant equity backing total assets. Despite some fluctuations in total assets, the overall financial stability remains commendable.

Cash Flow

Cash flow analysis reveals some challenges, with a negative free cash flow in 2025, driven by substantial capital expenditures. The operating cash flow to net income ratio is 0.53, indicating moderate cash generation from operations relative to net income. The free cash flow to net income ratio is negative, reflecting potential liquidity constraints. The cash flow statement suggests a need for careful cash management to ensure liquidity and operational flexibility.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	408.73B	406.70B	394.31B	368.13B	358.27B	325.68B
Gross Profit	130.99B	128.74B	120.42B	116.42B	114.82B	95.42B
EBITDA	37.11B	87.60B	74.69B	69.27B	63.46B	60.81B
Net Income	47.24B	43.91B	38.13B	35.18B	32.01B	28.07B
Balance Sheet
Total Assets	1.42T	1.30T	1.57T	1.07T	1.20T	1.10T
Cash, Cash Equivalents and Short-Term Investments	51.82B	74.63B	43.74B	97.65B	98.78B	116.12B
Total Debt	14.31B	14.15B	3.88B	20.21B	26.19B	28.04B
Total Liabilities	369.95B	346.89B	417.56B	271.68B	318.63B	305.34B
Stockholders Equity	1.04T	935.71B	1.14T	780.67B	868.45B	781.37B
Cash Flow
Free Cash Flow	0.00	-282.00M	15.22B	2.39B	-32.00B	-19.12B
Operating Cash Flow	0.00	23.28B	26.54B	30.63B	-2.85B	22.71B
Investing Cash Flow	0.00	13.64B	-29.56B	-7.35B	-8.15B	-8.62B
Financing Cash Flow	0.00	-6.11B	-51.01B	-24.49B	-8.16B	16.90B

TBS HOLDINGS INC. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 5684.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9401, the sentiment is Positive. The current price of 5684 is below the 20-day moving average (MA) of 5684.35, above the 50-day MA of 5498.88, and above the 200-day MA of 4967.09, indicating a bullish trend. The MACD of 70.87 indicates Negative momentum. The RSI at 59.38 is Neutral, neither overbought nor oversold. The STOCH value of 79.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9401.

TBS HOLDINGS INC. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9412	73 Outperform	€587.97B	27.79	7.53%	1.69%	0.97%	12.23%
9401	70 Outperform	¥940.76B	16.56	5.45%	1.30%	4.55%	-7.49%
9404	69 Neutral	¥993.04B	17.27	5.67%	1.03%	7.90%	54.01%
9413	69 Neutral	¥128.13B	13.44	―	1.71%	7.01%	72.94%
9409	64 Neutral	¥339.10B	10.32	7.18%	1.80%	6.63%	80.44%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
4676	45 Neutral	¥824.01B	-48.15	-1.72%	1.35%	-6.29%	-141.32%

TBS HOLDINGS INC. Corporate Events

TBS HOLDINGS Updates Shareholder Benefit Program to Enhance Engagement

TBS HOLDINGS, INC. announced changes to its shareholder benefit program as part of its long-term management vision, ‘TBS Group VISION2030,’ and its medium-term business plan, ‘TBS Group Medium-Term Business Plan 2026.’ These changes aim to deepen shareholder understanding and engagement by providing more opportunities to experience the company’s content. The updated program includes modifications to the benefits offered, such as the removal of certain events and the introduction of new fan event measures, effective from March 2026.

TBS HOLDINGS Expands U.S. Subsidiary with Major Capital Injection

TBS HOLDINGS, INC. announced an additional capital contribution to its wholly-owned subsidiary, THE SEVEN US, INC., in the United States. This move aims to enhance the subsidiary’s overseas content development and business operations, classifying it as a ‘Specified Subsidiary’ due to its increased capital. The impact on TBS HOLDINGS’ consolidated operating results is expected to be minimal.

TBS HOLDINGS Revises Dividend Forecast Upward Amid Strong Revenue

TBS HOLDINGS, INC. has revised its year-end dividend forecast for the fiscal year ending March 31, 2026, increasing it from ¥35 to ¥38 per share, resulting in an annual dividend of ¥73 per share. This decision reflects the company’s strong financial performance, driven by increased broadcasting revenue and robust spot advertising revenue, aligning with its policy to provide stable and continuous dividends.

TBS HOLDINGS Reports Strong Financial Growth and Strategic Expansion

TBS HOLDINGS, INC. reported a significant increase in its financial performance for the six months ending September 30, 2025, with net sales rising by 6.5% and profit attributable to owners of the parent increasing by 35.2% compared to the previous year. The company also announced revisions to its earnings forecasts and dividend payments, reflecting a positive outlook for the fiscal year ending March 31, 2026, and the consolidation of two new companies, indicating strategic growth and expansion.

TBS HOLDINGS Reports Extraordinary Income from Securities Sale, Revises Profit Forecast Upward

TBS HOLDINGS, INC. has announced the sale of investment securities by its wholly-owned subsidiary, resulting in an extraordinary income of approximately 38.5 billion yen. This transaction has led to a significant upward revision of the company’s consolidated financial results forecast for the fiscal year ending March 31, 2026, with profit attributable to owners of the parent expected to increase by 90.9%. Despite this increase, the dividend forecast remains unchanged as the income will be allocated for growth investments.

TBS HOLDINGS to Recognize Extraordinary Income from Securities Sale

TBS HOLDINGS, INC. announced the sale of investment securities held by its wholly-owned subsidiary, expecting to recognize an extraordinary income from this transaction. This move aligns with a strategic review of shareholdings under Japan’s Corporate Governance Code and aims to secure funds for future strategic investments, potentially impacting the company’s financial outlook for the fiscal year ending March 31, 2026.

TBS HOLDINGS Allocates Treasury Shares to Support Creative Foundation

TBS HOLDINGS, INC. has decided to dispose of 1,640,000 treasury shares through a third-party allotment to support the Akasaka Creative Foundation. This initiative aims to provide continuous and stable funding for the Foundation’s activities, reflecting the company’s commitment to supporting creative endeavors.