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Kansai Electric Power Company
(9503)
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Rating:69Neutral
Price Target:
¥2,689.00
▲(13.63% Upside)
Action:Reiterated
Date:08/04/26
The score is driven primarily by improving but mixed financial fundamentals—stronger earnings and better leverage trends offset by volatile cash conversion and margin pressure. Valuation is notably supportive (low P/E and solid dividend yield), while technicals are positive with the stock trading above major moving averages, though momentum looks somewhat stretched based on a high stochastic reading.
Positive Factors
Balance-sheet deleveraging
A sustained reduction in leverage and materially higher equity since 2023 strengthens Kansai Electric’s financial resilience. Lower debt ratios improve credit flexibility for multi-year capex, reduce refinancing pressure, and permit strategic investments in grid and generation modernization without immediate funding stress.
Negative Factors
Volatile cash generation
Inconsistent operating and free cash flow undermines predictable funding for capex, dividend policy, and debt servicing. Volatility suggests reliance on asset sales or timing effects, raising refinancing risk and complicating multi-year planning for grid upgrades and transition investments.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet deleveraging
A sustained reduction in leverage and materially higher equity since 2023 strengthens Kansai Electric’s financial resilience. Lower debt ratios improve credit flexibility for multi-year capex, reduce refinancing pressure, and permit strategic investments in grid and generation modernization without immediate funding stress.
Read all positive factors
Kansai Electric Power Company (9503) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥2.61T
Dividend Yield3.07%
Average Volume (3M)4.37M
Price to Earnings (P/E)6.5
Beta (1Y)0.94
Revenue Growth-2.90%
EPS Growth-7.99%
CountryJP
Employees32,482
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)375.15
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
¥2,535.00Price Target Upside7.12% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)278.81
Revenue Forecast (FY)¥4.36T
Kansai Electric Power Company Business Overview & Revenue Model
Company Description
The Kansai Electric Power Company, Incorporated (KEPCO) is a major Japanese enterprise with a diversified portfolio spanning electricity, gas, heat supply, and telecommunication services nationwide. The company operates through four principal segm...
How the Company Makes Money
Kansai Electric Power Company mainly makes money by selling electricity to end users in its service area. Its revenue model is built around (1) retail electricity sales to regulated and competitive customers (households, businesses, and industrial...
Kansai Electric Power Company Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
58
Neutral
Cash Flow
49
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.15T | 4.06T | 4.34T | 4.06T | 3.95T | 2.85T |
| Gross Profit | 328.98B | 437.56B | 768.36B | 1.00T | 213.81B | 370.44B |
| EBITDA | 777.64B | 901.38B | 971.85B | 1.02T | 349.06B | 462.23B |
| Net Income | 417.95B | 380.05B | 420.37B | 441.87B | 17.68B | 85.84B |
Balance Sheet | ||||||
| Total Assets | 9.82T | 9.85T | 9.65T | 9.03T | 8.77T | 8.66T |
| Cash, Cash Equivalents and Short-Term Investments | 533.68B | 737.41B | 942.45B | 566.00B | 322.52B | 493.08B |
| Total Debt | 4.38T | 4.31T | 4.49T | 4.59T | 5.02T | 4.85T |
| Total Liabilities | 6.20T | 6.35T | 6.55T | 6.70T | 6.93T | 6.95T |
| Stockholders Equity | 3.57T | 3.46T | 3.07T | 2.27T | 1.79T | 1.66T |
Cash Flow | ||||||
| Free Cash Flow | 91.92B | 91.92B | 80.40B | 698.65B | -347.92B | -131.50B |
| Operating Cash Flow | 652.38B | 652.38B | 575.30B | 1.15T | 128.04B | 410.31B |
| Investing Cash Flow | -571.92B | -571.92B | -342.35B | -428.05B | -417.88B | -532.63B |
| Financing Cash Flow | -290.22B | -290.22B | 137.67B | -488.91B | 117.10B | 318.77B |
Kansai Electric Power Company Technical Analysis
Neutral
2366.50
Price Trends
2329.42
Positive
2409.54
Negative
2429.17
Negative
Market Momentum
33.32
Negative
53.23
Neutral
68.66
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9503, the sentiment is Neutral. The current price of 2366.5 is above the 20-day moving average (MA) of 2357.22, above the 50-day MA of 2329.42, and below the 200-day MA of 2429.17, indicating a neutral trend. The MACD of 33.32 indicates Negative momentum. The RSI at 53.23 is Neutral, neither overbought nor oversold. The STOCH value of 68.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
69 Neutral | ¥2.61T | 6.51 | 11.51% | 3.17% | -2.90% | -7.99% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
62 Neutral | ¥590.02B | 7.08 | 7.93% | 3.50% | 2.21% | -47.89% | |
57 Neutral | ¥200.73B | 4.13 | 12.63% | 2.31% | -7.27% | -27.05% | |
55 Neutral | ¥338.86B | 8.91 | 9.14% | 2.87% | -4.69% | -62.74% | |
50 Neutral | ¥210.65B | 7.52 | 9.95% | 3.18% | -3.77% | -56.08% | |
43 Neutral | ¥833.13B | 2.12 | -14.76% | ― | -5.31% | ― |
* Utilities Sector Average
JP:9503
Kansai Electric Power Company
2,387.50
535.64
28.92%
JP:9504
Chugoku Electric Power Co
912.10
111.18
13.88%
JP:9505
Hokuriku Electric Power Company
931.90
162.25
21.08%
JP:9506
Tohoku Electric Power Company
1,186.50
156.25
15.17%
JP:9501
Tokyo Electric Power Company Holdings
522.80
-95.70
-15.47%
JP:9509
Hokkaido Electric Power Company,Incorporated
1,014.00
64.59
6.80%
Kansai Electric Power Company Corporate Events
Kansai Electric Q1 Profit Slumps as Sales Rise, Dividend Payout Set to Increase
Jul 31, 2026
As of June 30, 2026, Kansai Electric reported net sales of ¥1,007.9 billion for the first quarter, up 9.8% year on year, but operating profit dropped 84.2% and ordinary profit declined 60.8%, even as profit attributable to owners of parent ro...
Kansai Electric Books Large Gain From Partial Sale of Kinden Stake
Jun 2, 2026
Kansai Electric Power Company has reduced its stake in engineering partner Kinden Corporation by tendering 33.5 million Kinden shares, cutting its combined holding with group companies from 37.13% to 24.33%. Despite the divestment, Kansai Electric...
Kansai Electric Spins Off MOACT App Business Into New Wholly Owned Subsidiary
May 26, 2026
Kansai Electric Power will carve out its behavioral change app business, MOACT, into a new wholly owned subsidiary, MOACT, Inc., to create a more agile management structure and support the app’s transition from demonstration to full-scale ex...
Kansai Electric to Upgrade Himeji LNG Plant with High-Efficiency Combined Cycle Units
May 18, 2026
Kansai Electric Power will renew its Himeji No. 1 LNG-fired power station with state-of-the-art high-efficiency combined cycle units to bolster stable power supply and support Japan’s decarbonization drive. The project will lift capacity fro...
Kansai Electric Shuts Mihama Unit 3 After Turbine Steam Leak, No Radiation Released
May 8, 2026
Kansai Electric Power manually shut down the reactor at Mihama Nuclear Power Station Unit 3 after an alarm indicated an abnormal temperature difference in the high‑pressure turbine casing in the early hours of May 8, and operators confirmed ...
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.