Kansai Electric Power Company Incorporated (JP:9503)
:9503
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Kansai Electric Power Company
(9503)
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Rating:59Neutral
Price Target:
¥2,512.00
▲(1.47% Upside)
Action:DowngradedDate:05/02/26
The score is primarily supported by improving earnings and balance-sheet de-leveraging, but weighed down by volatile cash-flow conversion and margin compression. Technically, the stock shows weak-to-neutral momentum, while valuation is a clear positive due to a low P/E and solid dividend yield.
Positive Factors
De-leveraging trend
KEPCO's debt-to-equity improved materially from ~2.9x in 2022 to ~1.25x in 2026 as equity rose and debt declined. That durable reduction in leverage improves credit profile and borrowing flexibility, lowers interest burden and supports funding of capex and regulatory obligations over months.
Negative Factors
Volatile free cash flow
Operating cash flow has been inconsistent: free cash flow swung from deeply negative (2021–2023) to very strong in 2024 then fell back to low levels in 2025–2026. This volatility undermines dependable internal funding for capex, debt paydown and predictable shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
De-leveraging trend
KEPCO's debt-to-equity improved materially from ~2.9x in 2022 to ~1.25x in 2026 as equity rose and debt declined. That durable reduction in leverage improves credit profile and borrowing flexibility, lowers interest burden and supports funding of capex and regulatory obligations over months.
Read all positive factors
Kansai Electric Power Company (9503) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥2.57T
Dividend Yield2.44%
Average Volume (3M)4.37M
Price to Earnings (P/E)18.1
Beta (1Y)1.00
Revenue Growth-6.47%
EPS Growth-23.93%
CountryJP
Employees31,437
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)341.14
Shares Outstanding1,114,927,500
10 Day Avg. Volume4,760,990
30 Day Avg. Volume4,371,646
Financial Highlights & Ratios
PEG Ratio-0.35
Price to Book (P/B)0.83
Price to Sales (P/S)0.71
P/FCF Ratio31.32
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥3,000.00Price Target Upside21.19% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)263.39
Revenue Forecast (FY)¥4.17T
Kansai Electric Power Company Business Overview & Revenue Model
Company Description
The Kansai Electric Power Company, Incorporated engages in electricity, gas and heat supply, and telecommunication businesses in Japan. It operates through four segments: Energy Business, Power Transmission and Distribution Business, Information a...
How the Company Makes Money
KEPCO primarily makes money by selling electricity to customers under Japan’s electricity market framework. Its main revenue stream is electricity sales (retail) to residential, commercial, and industrial customers within its service area; these r...
Kansai Electric Power Company Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
58
Neutral
Cash Flow
49
Neutral
| Breakdown | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.06T | 4.34T | 4.06T | 3.95T | 2.85T |
| Gross Profit | 437.56B | 768.36B | 1.00T | 213.81B | 370.44B |
| EBITDA | 777.72B | 812.59B | 1.09T | 279.34B | 416.20B |
| Net Income | 380.05B | 420.37B | 441.87B | 17.68B | 85.84B |
Balance Sheet | |||||
| Total Assets | 9.85T | 9.65T | 9.03T | 8.77T | 8.66T |
| Cash, Cash Equivalents and Short-Term Investments | 737.41B | 942.45B | 566.00B | 322.52B | 493.08B |
| Total Debt | 4.31T | 4.49T | 4.59T | 5.02T | 4.85T |
| Total Liabilities | 6.35T | 6.55T | 6.70T | 6.93T | 6.95T |
| Stockholders Equity | 3.46T | 3.07T | 2.27T | 1.79T | 1.66T |
Cash Flow | |||||
| Free Cash Flow | 91.92B | 80.40B | 698.65B | -347.92B | -131.50B |
| Operating Cash Flow | 652.38B | 575.30B | 1.15T | 128.04B | 410.31B |
| Investing Cash Flow | -571.92B | -342.35B | -428.05B | -417.88B | -532.63B |
| Financing Cash Flow | -290.22B | 137.67B | -488.91B | 117.10B | 318.77B |
Kansai Electric Power Company Technical Analysis
Negative
2475.50
Price Trends
2588.00
Negative
2527.17
Negative
2272.64
Positive
Market Momentum
-8.75
Positive
44.10
Neutral
14.13
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9503, the sentiment is Negative. The current price of 2475.5 is below the 20-day moving average (MA) of 2586.12, below the 50-day MA of 2588.00, and above the 200-day MA of 2272.64, indicating a neutral trend. The MACD of -8.75 indicates Positive momentum. The RSI at 44.10 is Neutral, neither overbought nor oversold. The STOCH value of 14.13 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:9503.
Kansai Electric Power Company Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
62 Neutral | ¥531.79B | -4.76 | 16.40% | 3.47% | -10.30% | -53.53% | |
59 Neutral | ¥2.57T | 18.06 | 14.42% | 2.44% | -6.47% | -23.93% | |
57 Neutral | ¥180.56B | -9.52 | 17.23% | 2.31% | -7.70% | -16.43% | |
50 Neutral | ¥205.32B | -11.24 | 13.70% | 2.36% | -5.11% | -31.49% | |
49 Neutral | ¥322.94B | -53.90 | 12.27% | 3.23% | -5.68% | -30.36% | |
43 Neutral | ¥981.66B | 1.23 | -22.13% | ― | -7.07% | -381.65% |
* Utilities Sector Average
JP:9503
Kansai Electric Power Company
2,404.00
773.74
47.46%
JP:9504
Chugoku Electric Power Co
896.40
174.80
24.22%
JP:9505
Hokuriku Electric Power Company
864.90
152.30
21.37%
JP:9506
Tohoku Electric Power Company
1,064.00
64.66
6.47%
JP:9501
Tokyo Electric Power Company Holdings
612.70
201.30
48.93%
JP:9509
Hokkaido Electric Power Company,Incorporated
1,000.00
282.28
39.33%
Kansai Electric Power Company Corporate Events
Kansai Electric Power Corrects Director Nominee Profile in Management Change Notice
May 1, 2026
The Kansai Electric Power Company has corrected information previously disclosed about an incoming director, following the discovery of an error in a recent announcement on executive management changes dated April 30, 2026. The company clarified t...
Kansai Electric Power Tightens Shareholder Return Policy, Sets FY2026 Dividend Target
Apr 30, 2026
The Kansai Electric Power Company has revised its shareholder return policy, aiming to enhance corporate value while sharing benefits with investors in a measured and sustainable manner. The updated framework emphasizes maintaining financial stabi...
Kansai Electric Sets ¥15 Trillion Investment Roadmap in Management Plan 2026
Apr 30, 2026
The Kansai Electric Power Group has unveiled its Management Plan 2026, a three‑year roadmap toward its 2040 vision of becoming a leading provider of a “Vital Platform” built on energy, transmission and distribution, ICT, and real...
Kansai Electric Overhauls Board, Taps Sakakibara as Chairman
Apr 30, 2026
Kansai Electric Power Company, a leading Japanese electric utility listed on the TSE Prime Market, supplies power and energy-related services across the Kansai region to residential, commercial, and industrial customers. Its governance framework c...
Kansai Electric Profit Slips but Balance Sheet Strengthens as Dividend Rises
Apr 30, 2026
Kansai Electric Power reported consolidated net sales of ¥4.06 trillion for the year ended March 31, 2026, down 6.5% year-on-year, with operating profit falling 6.7% to ¥437.6 billion and profit attributable to owners of parent declining...
Kansai Electric to Trim KINDEN Stake, Book ¥176 Billion Gain on Share Sale
Apr 27, 2026
Kansai Electric Power Company and its group firm Kanden Realty Development will tender a large portion of their stake in KINDEN CORPORATION into KINDEN’s share buyback, reducing their combined ownership from 37.13% to an expected 24.33%, wh...
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.