Electric Power Development Co (9513) AI Stock Analysis

• Market Cap: ¥601.13B
• Dividend Yield: 3.22%
• Average Volume (3M): 894.44K
• Price to Earnings (P/E): 6.1
• Beta (1Y): 0.62
• Revenue Growth: -1.56%
• EPS Growth: 9.17%
• Country: JP
• Employees: 7,083
• Sector: Utilities
• Sector Strength: 65
• Industry: Renewable Utilities
• EPS (TTM): 118.70
• Shares Outstanding: 183,051,100
• 10 Day Avg. Volume: 729,060
• 30 Day Avg. Volume: 894,443
• PEG Ratio: 0.27
• Price to Book (P/B): 0.35
• Price to Sales (P/S): 0.35
• P/FCF Ratio: 3.66
• 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: 82 Outperform
• Price Target: ¥3,823.00 ▲(17.81% Upside)

Electric Power Development Co's strong financial performance and attractive valuation are the primary drivers of its high score. The technical analysis supports a positive outlook, though caution is advised due to indicators nearing overbought levels. The absence of recent earnings call data and corporate events does not detract from the overall positive assessment.

Positive Factors

Strong Cash Generation

Sustained operating cash flow and sizable free cash flow materially improve financial resilience. This supports ongoing capex for plant maintenance and renewables, funds shareholder returns, and reduces reliance on external financing over a multi‑year horizon.

Diversified Generation Mix

A portfolio spanning thermal, hydro, wind and biomass lowers single‑technology risk and stabilizes output profile. Diversification aids compliance with decarbonization policy, smooths revenue volatility across fuel cycles, and supports long‑term contract sales to utilities.

Improving Margins & Revenue

Rising revenues and expanding gross and net margins indicate improving operational efficiency and pricing power. Sustainable margin gains enhance internal funding capacity for upgrades and renewables, bolstering long‑term profitability despite sector cyclicality.

Negative Factors

Fuel Price Exposure

Material exposure to fuel and commodity swings creates persistent earnings and margin volatility for thermal assets. Over the medium term, volatile fuel costs can erode cash flow predictability, complicate budgeting for capex and dividends, and raise hedging costs.

Moderate Leverage

A D/E around 1.4 reflects meaningful leverage in a capital‑intensive utility. This constrains financial flexibility for large new projects, increases interest exposure, and could pressure credit metrics if cash flows weaken or if sizeable renewables investment accelerates.

Modest Return on Equity

An ROE below double digits signals modest returns relative to the capital deployed in generation assets. Persistently low ROE limits organic equity growth, reduces reinvestment capacity, and may require external capital or slower expansion to meet strategic goals.

Electric Power Development Co Business Overview & Revenue Model

Company Description

Electric Power Development Co., Ltd. engages in the wholesale supply of hydroelectric and thermal power in Japan. It also produces wood fuel, carbonized sewage sludge fuel, and other biomass fuels, as well as generates and transmits electricity. In addition, the company invests in, imports, transports, and sells coal; sells fly ash; procures forest offcut; produces and sells fertilizers using ash; manufactures, sells, and markets activated coke; operates welfare facilities, wood pellet manufacturing facilities, and nuclear power plants; operates and maintains telecommunication facilities and waste-fueled power generation plants; and constructs and maintains electronic and communication facilities. Further, it engages in the ocean transportation of coal for thermal power plants; research, planning, analysis of environmental conservation; surveying of and compensation for construction sites; the provision of investment management, and research and development of projects; facility maintenance and business process outsourcing services; development of computer software; and ocean transportation of ash and fly ash. Additionally, the company provides civil engineering, and construction management and services; and engineering services for atmospheric and water pollutant removal equipment. It has 60 hydroelectric power plants with a total capacity of 8,560 MW; 12 thermal power generation facilities with a total capacity of 9,117 MW; 23 wind power facilities with a total capacity of 540 MW; 1 geo-thermal facilities with a total capacity of 23 MW; and 2,404.8 kilometers of power transmission lines, and 9 substations and converter stations, as well as operates 33 power generation facilities with a total capacity of 6,544 MW located in Thailand, the United States, China, and internationally. The company was incorporated in 1952 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Electric Power Development Co. generates revenue primarily through the sale of electricity produced from its various power generation facilities. The company operates under a regulated framework, allowing it to earn revenue based on the volume of electricity supplied to both wholesale and retail markets. Key revenue streams include long-term power purchase agreements (PPAs) with utilities and large industrial customers, which provide stable cash flows. Additionally, J-POWER engages in international power generation projects and partnerships, broadening its revenue base. The company also benefits from government incentives for renewable energy production, further enhancing its earnings potential. Strategic collaborations with other energy firms and investments in new technologies play a crucial role in driving its growth and profitability.

Electric Power Development Co Financial Statement Overview

Summary

Electric Power Development Co demonstrates strong financial performance with consistent revenue growth and improved margins. The balance sheet is solid with a manageable level of debt and a strong equity base. Cash flow generation is robust, supporting strategic investments and shareholder returns. Overall, the company is well-positioned in the renewable utilities sector.

Income Statement

Electric Power Development Co has shown consistent revenue growth, with a significant increase from 1,254 billion yen in 2024 to 1,316 billion yen in 2025. Gross profit margin improved from 8.4% to 10.5%, and net profit margin rose from 6.2% to 7.0%. The EBIT and EBITDA margins are strong at 10.5% and 22.0% respectively, reflecting solid operational efficiency.

Balance Sheet

The company maintains a moderate debt-to-equity ratio of 1.41, indicating balanced leverage. Return on equity improved to 6.9%, and the equity ratio is stable at 36.4%, showcasing a solid capital structure with a good balance between debt and equity.

Cash Flow

Operating cash flow remains robust at 250 billion yen, with a strong free cash flow of 126 billion yen, reflecting effective cash management. The free cash flow to net income ratio is healthy, indicating efficient conversion of earnings into cash.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.31T	1.32T	1.26T	1.84T	1.08T	909.14B
Gross Profit	230.63B	230.83B	105.71B	183.87B	86.98B	77.78B
EBITDA	306.03B	254.72B	216.02B	305.80B	192.28B	174.22B
Net Income	119.09B	92.47B	77.77B	113.69B	69.69B	22.30B
Balance Sheet
Total Assets	3.62T	3.67T	3.48T	3.36T	3.07T	2.84T
Cash, Cash Equivalents and Short-Term Investments	352.72B	416.46B	431.96B	342.02B	223.07B	189.84B
Total Debt	1.83T	1.66T	1.87T	1.89T	1.79T	1.67T
Total Liabilities	2.15T	2.21T	2.14T	2.17T	2.10T	1.99T
Stockholders Equity	1.35T	1.34T	1.22T	1.08T	916.03B	809.14B
Cash Flow
Free Cash Flow	0.00	126.42B	138.18B	10.97B	-6.90B	8.66B
Operating Cash Flow	0.00	250.34B	254.02B	155.83B	128.38B	167.96B
Investing Cash Flow	0.00	-122.83B	-161.95B	-150.84B	-178.85B	-143.27B
Financing Cash Flow	0.00	-133.70B	-65.86B	96.02B	84.07B	7.03B

Electric Power Development Co Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3245.00
• 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:9513, the sentiment is Positive. The current price of 3245 is below the 20-day moving average (MA) of 3300.75, above the 50-day MA of 3171.90, and above the 200-day MA of 2759.47, indicating a neutral trend. The MACD of 34.04 indicates Positive momentum. The RSI at 54.71 is Neutral, neither overbought nor oversold. The STOCH value of 20.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9513.

Electric Power Development Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9513	82 Outperform	¥601.13B	6.14	7.92%	3.22%	-1.56%	9.17%
9503	75 Outperform	¥2.64T	6.90	14.42%	2.44%	2.08%	19.52%
9506	74 Outperform	¥557.78B	3.27	16.13%	3.47%	-8.73%	-6.98%
9509	71 Outperform	¥215.38B	3.69	14.57%	2.36%	-1.60%	-10.41%
9504	69 Neutral	¥355.83B	3.95	15.45%	3.23%	-1.02%	79.80%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
9501	52 Neutral	¥930.71B	-1.25	-22.13%	―	-2.28%	-794.92%

Electric Power Development Co Corporate Events

Electric Power Development Announces CEO Resignation and Leadership Transition

Electric Power Development Co., Ltd. announced that President and CEO Hitoshi Kanno will resign from his roles as representative director, president, and chief executive officer for health reasons, with his resignation effective March 31, 2026. The board has appointed current director and executive managing officer Hideaki Kato, a long-time company insider with extensive experience in corporate planning and administration, as the new representative director, president, and CEO effective April 1, 2026, while Kanno will remain with the company as a special counselor, signaling an orderly leadership transition designed to maintain continuity in management and strategic direction.

The most recent analyst rating on (JP:9513) stock is a Buy with a Yen3877.00 price target. To see the full list of analyst forecasts on Electric Power Development Co stock, see the JP:9513 Stock Forecast page.

J-POWER Profits Rise Despite Revenue Drop as Utility Maintains Dividend and Cautious Outlook

Electric Power Development Co. (J-POWER) reported consolidated results for the nine months to 31 December 2025 showing operating revenue down 9.8% year-on-year to ¥864.6 billion, but profit attributable to owners of the parent rose 5.4% to ¥84.0 billion as ordinary profit increased and earnings per share climbed to ¥464.66. The company’s financial position strengthened modestly, with total assets edging up to ¥3.68 trillion, net assets rising to ¥1.50 trillion and the equity ratio improving to 37.5%, while it maintained its dividend stance with an interim ¥50 per share payout and a full-year dividend forecast of ¥100 unchanged. For the full year ending March 31, 2026, J-POWER projects lower revenue and profits versus the prior year, reflecting a cautious earnings outlook, and it continues to adjust its group structure, adding four companies (including J-POWER Charger Capital, LLC) and removing three from the scope of consolidation, a sign of ongoing portfolio and capital management, including the impact of its share buyback program on per-share metrics.

The most recent analyst rating on (JP:9513) stock is a Buy with a Yen3877.00 price target. To see the full list of analyst forecasts on Electric Power Development Co stock, see the JP:9513 Stock Forecast page.

J-POWER Reports Continued Progress on ¥20 Billion Share Buyback Program

Electric Power Development Co., Ltd. (J-POWER) reported progress on its ongoing share buyback program, disclosing that it repurchased 458,100 common shares in December 2025 for a total of ¥1,402,438,000. The buyback is being conducted under a Board resolution dated May 9, 2025, which authorizes the purchase of up to 9 million shares or ¥20 billion between September 1, 2025 and March 31, 2026. As of December 31, 2025, J-POWER has cumulatively acquired 5,468,700 shares for approximately ¥15.62 billion, indicating substantial execution of the program and signaling continued emphasis on shareholder returns and capital efficiency through treasury share acquisition.

The most recent analyst rating on (JP:9513) stock is a Buy with a Yen3408.00 price target. To see the full list of analyst forecasts on Electric Power Development Co stock, see the JP:9513 Stock Forecast page.

J-POWER Advances Treasury Share Buyback Plan

Electric Power Development Co., Ltd. (J-POWER) announced the progress of its treasury share purchase plan, which was initially resolved by the Board of Directors in May 2025. In November 2025, the company purchased 617,600 common shares valued at approximately 1.8 billion yen. This move is part of a broader plan to buy back up to 9 million shares, with a total value cap of 20 billion yen, aimed at optimizing capital structure and enhancing shareholder value.

The most recent analyst rating on (JP:9513) stock is a Buy with a Yen3408.00 price target. To see the full list of analyst forecasts on Electric Power Development Co stock, see the JP:9513 Stock Forecast page.

J-POWER Reports Progress in Treasury Share Buyback Program

Electric Power Development Co., Ltd. (J-POWER) has announced the progress of its treasury share purchase program, which was approved by the Board of Directors on May 9, 2025. In October 2025, the company purchased 827,400 common shares valued at approximately 2.37 billion yen. This initiative is part of a broader strategy to buy back up to 9 million shares, with a total value cap of 20 billion yen, during the period from September 1, 2025, to March 31, 2026. As of the end of October, J-POWER has acquired a cumulative total of 4,393,000 shares, amounting to over 12.4 billion yen. This move is expected to impact the company’s financial structure and shareholder value positively.

The most recent analyst rating on (JP:9513) stock is a Buy with a Yen3408.00 price target. To see the full list of analyst forecasts on Electric Power Development Co stock, see the JP:9513 Stock Forecast page.