TV Asahi Holdings (9409) AI Stock Analysis

• Market Cap: ¥363.46B
• Dividend Yield: 1.79%
• Average Volume (3M): 242.62K
• Price to Earnings (P/E): 11.1
• Beta (1Y): 0.84
• Revenue Growth: 6.63%
• EPS Growth: 80.44%
• Country: JP
• Employees: 5,452
• Sector: Communication Services
• Sector Strength: 97
• Industry: Broadcasting
• EPS (TTM): N/A
• Shares Outstanding: 108,529,000
• 10 Day Avg. Volume: 296,640
• 30 Day Avg. Volume: 242,620
• PEG Ratio: 0.20
• Price to Book (P/B): 0.58
• Price to Sales (P/S): 0.79
• P/FCF Ratio: -49.69
• 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: 64 Neutral
• Price Target: ¥3,831.00 ▲(12.02% Upside)

TV Asahi Holdings' overall stock score is driven primarily by its strong financial performance, characterized by revenue growth and a solid balance sheet. However, the negative free cash flow and lack of strong technical momentum are concerns. The valuation is reasonable, offering moderate income potential through dividends.

Positive Factors

Very low leverage / strong balance sheet

Extremely low debt-to-equity provides durable financial flexibility, lowering solvency risk and enabling the company to fund programming, strategic investments, or weather advertising cyclicality without relying on expensive borrowing over the next several months.

Consistent revenue growth and improving profitability

Sustained revenue growth and rising profit margins indicate stable audience demand and better monetization of content. This trajectory supports cash generation and reinvestment capacity, reinforcing competitive position in broadcasting and content licensing over a 2–6 month horizon.

Diversified media value chain and content monetization

Owning production, distribution and secondary content channels creates multiple revenue streams beyond spot advertising. Licensing and video monetization can provide recurring, higher-margin income, cushioning core broadcast ad volatility and supporting long-term revenue resilience.

Negative Factors

Negative free cash flow

Negative free cash flow signals the company isn’t generating surplus cash after capex, limiting organic funding for growth, dividends or debt reduction. Unless operating cash conversion improves, reliance on reserves or external financing may be required within months.

Moderate operating margins; room for efficiency gains

Moderate margins constrain the firm’s ability to absorb ad revenue volatility or cost inflation. Without material margin expansion or higher-margin revenue growth, profitability and cash generation could be pressured during industry headwinds over the medium term.

Concentration in advertising revenue

Heavy reliance on broadcast advertising exposes earnings to cyclical ad spending and structural shifts to digital platforms. Although content monetization exists, the ad concentration is a persistent risk that can depress revenue and margins if advertiser demand weakens.

TV Asahi Holdings Business Overview & Revenue Model

Company Description

TV Asahi Holdings Corporation, together with its subsidiaries, engages in television (TV) broadcasting business in Japan and internationally. The company operates through TV Broadcasting Business, Internet Business, Shopping Business, and Other Businesses. It engages in the time sales, spot sales, program sales, BS/CS, and other sales activities; special programs and sports broadcast activities; and other businesses include internet-related businesses, TV shopping programs, and special events. The company also invests in motion pictures; and sells and leases equipment and DVDs. TV Asahi Holdings Corporation was founded in 1957 and is headquartered in Tokyo, Japan.

How the Company Makes Money

TV Asahi generates revenue through multiple streams, primarily from advertising, subscription fees, and content sales. The advertising segment constitutes a substantial portion of its income, as the company sells commercial airtime during its broadcast programs to various advertisers. Additionally, TV Asahi earns revenue from subscriptions through its pay-TV services and streaming platforms. The company also monetizes its content by licensing television shows, films, and other media to domestic and international networks. Significant partnerships with advertisers, production studios, and distribution companies further enhance its revenue potential, while the company's ability to produce popular programming helps to maintain strong viewer engagement and advertising demand.

TV Asahi Holdings Financial Statement Overview

Summary

TV Asahi Holdings demonstrates strong revenue growth and profitability improvements, supported by a solid balance sheet with low leverage. However, the negative free cash flow indicates a need for better cash management strategies.

Income Statement

TV Asahi Holdings has demonstrated consistent revenue growth over the years, with a notable increase in gross profit margin from 24.91% in 2024 to 26.78% in 2025. The net profit margin also improved to 7.97% in 2025, indicating enhanced profitability. However, the EBIT and EBITDA margins, while improving, remain moderate, suggesting room for operational efficiency improvements.

Balance Sheet

The company maintains a strong balance sheet with a very low debt-to-equity ratio of 0.0067, reflecting minimal leverage and financial risk. The return on equity has improved to 5.79% in 2025, indicating better utilization of shareholder funds. The equity ratio remains robust, showcasing a stable financial position.

Cash Flow

While operating cash flow has increased, the free cash flow is negative, indicating potential challenges in generating cash after capital expenditures. The operating cash flow to net income ratio is healthy, but the negative free cash flow to net income ratio highlights the need for better cash management.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	326.95B	324.06B	307.90B	304.57B	298.28B	264.56B
Gross Profit	90.93B	86.77B	76.71B	79.57B	86.98B	71.29B
EBITDA	35.97B	45.70B	22.45B	25.26B	32.34B	25.44B
Net Income	27.28B	25.82B	17.14B	16.60B	21.00B	12.60B
Balance Sheet
Total Assets	553.39B	559.56B	520.43B	495.12B	498.81B	473.74B
Cash, Cash Equivalents and Short-Term Investments	57.93B	63.75B	71.02B	76.48B	80.06B	55.50B
Total Debt	20.85B	2.98B	1.60B	1.44B	2.49B	2.83B
Total Liabilities	101.83B	111.71B	96.86B	100.36B	105.59B	97.64B
Stockholders Equity	449.28B	445.65B	421.75B	393.23B	391.92B	374.96B
Cash Flow
Free Cash Flow	0.00	-5.18B	2.98B	-2.35B	22.76B	-29.12B
Operating Cash Flow	0.00	26.52B	19.11B	15.30B	30.13B	20.60B
Investing Cash Flow	0.00	-32.50B	-21.71B	-25.01B	7.63B	-7.96B
Financing Cash Flow	0.00	-7.12B	-5.82B	-6.60B	-4.56B	-8.25B

TV Asahi Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3420.00
• 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:9409, the sentiment is Positive. The current price of 3420 is below the 20-day moving average (MA) of 3487.25, above the 50-day MA of 3383.60, and above the 200-day MA of 3021.61, indicating a bullish trend. The MACD of 60.75 indicates Negative momentum. The RSI at 66.54 is Neutral, neither overbought nor oversold. The STOCH value of 77.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9409.

TV Asahi Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9412	73 Outperform	€637.84B	30.15	7.53%	1.67%	0.97%	12.23%
9401	70 Outperform	¥986.70B	17.36	5.45%	1.30%	4.55%	-7.49%
9404	69 Neutral	¥947.56B	16.65	5.67%	1.03%	7.90%	54.01%
9413	69 Neutral	¥125.53B	13.17	―	1.71%	7.01%	72.94%
9409	64 Neutral	¥363.46B	11.06	7.18%	1.79%	6.63%	80.44%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
4676	45 Neutral	¥873.16B	-41.53	-1.72%	1.40%	-6.29%	-141.32%

TV Asahi Holdings Corporate Events

TV Asahi Holdings Achieves Record Sales and Profits in First Half of FY2026

TV Asahi Holdings reported a strong performance for the first half of the fiscal year ending March 31, 2026, achieving record sales and profits. The TV broadcasting and internet businesses saw significant growth, driven by high viewer ratings and increased digital advertising revenue. However, the shopping and other business segments experienced declines. The company has revised its consolidated earnings forecast upward, indicating positive expectations for the fiscal year.

The most recent analyst rating on (JP:9409) stock is a Hold with a Yen3354.00 price target. To see the full list of analyst forecasts on TV Asahi Holdings stock, see the JP:9409 Stock Forecast page.

TV Asahi Holdings Reports Strong Financial Growth for H1 2025

TV Asahi Holdings Corporation reported a significant increase in its financial performance for the six months ending September 30, 2025, with net sales rising by 7.6% and operating profit surging by 140.9% compared to the previous year. This robust performance is indicative of the company’s strong market positioning and operational efficiency, potentially enhancing stakeholder confidence and solidifying its competitive edge in the media industry.

The most recent analyst rating on (JP:9409) stock is a Hold with a Yen3354.00 price target. To see the full list of analyst forecasts on TV Asahi Holdings stock, see the JP:9409 Stock Forecast page.