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RENOVA
(9519)
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Rating:51Neutral
Price Target:
¥1,038.00
▲(5.60% Upside)
Action:Reiterated
Date:06/10/26
The score is held back primarily by balance-sheet leverage and compressed/volatile profitability, alongside weak technical trend and bearish momentum signals. Offsetting factors include strong recent revenue growth and improved, consistently positive free cash flow, but valuation (P/E ~24.9) does not meaningfully compensate for the risk profile.
Positive Factors
Sustained positive free cash flow
RENOVA has converted a prior FCF deficit into sustained positive free cash flow in 2025–2026, producing ¥22.9–23.0B. Durable FCF supports reinvestment, debt reduction, and resilience in a capital-intensive renewables model, improving long-term financial flexibility.
Negative Factors
Still-high absolute leverage
Even after improvement, a 2.8x debt-to-equity ratio is high for a utilities/renewables operator, leaving the company exposed to higher interest expenses and refinancing risk. Capital intensity means leverage can constrain capital allocation and amplify earnings volatility.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained positive free cash flow
RENOVA has converted a prior FCF deficit into sustained positive free cash flow in 2025–2026, producing ¥22.9–23.0B. Durable FCF supports reinvestment, debt reduction, and resilience in a capital-intensive renewables model, improving long-term financial flexibility.
Read all positive factors
RENOVA (9519) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥84.50B
Dividend YieldN/A
Average Volume (3M)560.25K
Price to Earnings (P/E)25.4
Beta (1Y)1.10
Revenue Growth24.74%
EPS Growth22.80%
CountryJP
Employees314
SectorReal Estate
Sector Strength53
IndustryRenewable Utilities
Share Statistics
EPS (TTM)36.59
Shares Outstanding91,274,900
10 Day Avg. Volume466,670
30 Day Avg. Volume560,246
Financial Highlights & Ratios
PEG Ratio1.01
Price to Book (P/B)0.62
Price to Sales (P/S)0.86
P/FCF Ratio3.31
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥1,450.00Price Target Upside47.51% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)41.57
Revenue Forecast (FY)¥96.23B
RENOVA Business Overview & Revenue Model
Company Description
RENOVA (9519) is a Japan-based company operating in the housing and renovation industry. null...
How the Company Makes Money
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RENOVA Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
41
Neutral
Cash Flow
70
Positive
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 87.62B | 70.25B | 44.75B | 33.58B | 29.34B |
| Gross Profit | 24.09B | 17.65B | 27.34B | 23.61B | 22.29B |
| EBITDA | 30.90B | 25.47B | 26.88B | 17.15B | 18.53B |
| Net Income | 3.31B | 2.69B | 8.86B | 2.68B | 1.58B |
Balance Sheet | |||||
| Total Assets | 611.46B | 529.81B | 465.16B | 303.38B | 296.22B |
| Cash, Cash Equivalents and Short-Term Investments | 85.80B | 87.47B | 66.49B | 49.63B | 44.28B |
| Total Debt | 340.80B | 332.92B | 306.87B | 206.08B | 207.10B |
| Total Liabilities | 425.58B | 396.63B | 359.70B | 238.65B | 243.78B |
| Stockholders Equity | 122.85B | 88.87B | 67.77B | 42.95B | 31.89B |
Cash Flow | |||||
| Free Cash Flow | 22.86B | 23.00B | 2.82B | -804.00M | -3.35B |
| Operating Cash Flow | 28.27B | 31.50B | 18.73B | 10.13B | 12.15B |
| Investing Cash Flow | -12.30B | -16.50B | -24.35B | -9.33B | -18.52B |
| Financing Cash Flow | -16.85B | -8.29B | 1.38B | 3.03B | 3.37B |
RENOVA Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
60 Neutral | ¥210.65B | 7.52 | 9.95% | 3.18% | -3.77% | -56.08% | |
58 Neutral | ¥670.07B | 19.37 | 4.27% | 2.63% | -7.32% | -70.76% | |
58 Neutral | ¥57.25B | 149.29 | 4.87% | 3.18% | -6.87% | -93.42% | |
56 Neutral | ¥66.06B | 12.36 | ― | 1.79% | -1.20% | 115.89% | |
55 Neutral | ¥338.86B | 8.91 | 9.14% | 2.87% | -4.69% | -62.74% | |
51 Neutral | ¥84.50B | 25.42 | 3.23% | ― | 24.74% | 22.80% |
* Real Estate Sector Average
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RENOVA Corporate Events
RENOVA reports no quake damage to Kyushu renewable assets
Jul 29, 2026
RENOVA has reported that the earthquake that struck the Kumamoto region of Kumamoto Prefecture on July 28, 2026 has not caused any confirmed damage to its large-scale solar PV or biomass power plants in Kyushu. The company expressed solidarity wit...
Renova Biomass Plant Returns to Normal Operations With No Earnings Impact
Jul 29, 2026
Renova said its Tokushima Tsuda Biomass Power Plant, owned via a consolidated subsidiary, returned to normal operations on July 25 after repairs to a damaged steam control valve linked to the high-pressure turbine. The facility had been offline si...
RENOVA Says Tokushima Biomass Plant Shutdown Will Not Hit Earnings Outlook
Jul 21, 2026
RENOVA has reported an unplanned shutdown at the Tokushima Tsuda Biomass Power Plant, operated by its consolidated subsidiary Tokushima Tsuda Biomass Energy G.K., after abnormal pressure was detected in the high-pressure turbine and damage was con...
RENOVA’s Renewable Power Portfolio Delivers Slight Electricity Sales Beat in Fiscal 2027 YTD
Jul 21, 2026
RENOVA reported electricity sales figures for June 2026 and year-to-date for its major renewable power plants in Japan, showing mixed performance across technologies. Large solar PV sales in the first half were generally below plan and down year-o...
RENOVA Restarts Karumai West Solar Plant With Limited Earnings Impact
Jul 2, 2026
RENOVA said its Karumai West Solar Power Plant, operated via subsidiary Karumai West Solar G.K., resumed normal operations on July 1, 2026 after repairs to defective power receiving and transforming equipment. The plant had been offline since Apri...
RENOVA Reports No Damage to Tohoku Renewable Plants After Iwate Quake
Jun 25, 2026
RENOVA said its large-scale solar PV and biomass power plants in the Tohoku region have not sustained any confirmed damage from the earthquake that struck off the coast of Iwate Prefecture on June 25, 2026. The company expressed solidarity with af...
RENOVA’s Renewable Power Sales Exceed Plan in May 2026
Jun 22, 2026
RENOVA reported electricity sales for May 2026 from its major renewable energy power plants in Japan, showing total actual sales of 546.6 million kWh, 3.9% above plan and 1.5% higher year on year. Large-scale solar output slightly exceeded plan de...
RENOVA’s April Power Sales Miss Plan but Rise on Biomass Strength
May 25, 2026
RENOVA reported April 2026 electricity sales from its major renewable energy power plants in Japan, with total actual sales of 277,630,679 kWh, 1.2% below its internal plan but up 5.8% year on year. Large solar PV output came in 7.3% under plan an...
RENOVA to Broaden Business Scope With Amendments to Articles of Incorporation
May 22, 2026
RENOVA’s board has approved a proposal to amend its Articles of Incorporation to broaden the company’s stated business purposes, with the changes to be put to a shareholder vote at the annual general meeting on June 19, 2026. The revis...
RENOVA Issues Cautious Briefing on Fiscal 2026 Financial Results
May 13, 2026
RENOVA has released a briefing document outlining its financial results for the fiscal year ending March 2026, framed as general corporate information rather than an offer to buy its securities. The company emphasizes that its data on industry tre...
Renova Outlines Assumptions and Risks Behind FY2026 Outlook
May 13, 2026
Renova has released supplementary material outlining its financial results forecast for the fiscal year ending March 2026. The document provides corporate information and discusses assumptions around industry trends, energy policy, permitting, and...
Renova Lifts Earnings and Strengthens Balance Sheet on Renewable Expansion
May 13, 2026
Renova reported strong results for the fiscal year ended March 31, 2026, with revenue up 24.7% to ¥87.6 billion and operating profit more than doubling, aided by higher EBITDA and contributions from equity-method investments. Profit attributa...
RENOVA Says Karumai West Solar Outage Has Limited Impact on Earnings Outlook
May 13, 2026
RENOVA has disclosed that its Karumai West Solar Power Plant, owned via subsidiary Karumai West Solar G.K., has been offline since April 22, 2026, after an equipment anomaly near the grid interconnection point led to the discovery of a defect in i...
RENOVA Expands Stock Compensation Plan for External Directors to Deepen Shareholder Alignment
May 13, 2026
RENOVA will maintain and partially revise its non-performance-based stock compensation plan for external directors, increasing the maximum trust contribution for acquiring shares from 50 million yen to 60 million yen and doubling the cap on shares...
RENOVA sharpens long-term incentives with expanded performance-based stock plan
May 13, 2026
RENOVA has decided to continue and revise its performance-based stock compensation plan for internal directors and executive officers at the parent and subsidiaries, strengthening the link between management pay, long-term performance and sharehol...
Renova Keeps Core Leadership as It Sets New Governance and Management Structure
May 13, 2026
Renova has announced a slate of personnel changes, primarily centered on the reappointment of its existing directors, including Chairman Koichi Kawana and Representative Director, President and CEO, and Founder Yosuke Kiminami. The proposed board ...
RENOVA Issues Cautious Supplement on FY2026 Financial Outlook
May 13, 2026
RENOVA has released supplementary material on its financial results for the fiscal year ending March 2026, outlining corporate information and key data about the RENOVA Group’s operations. The document emphasizes that industry and market inf...
Renova Delivers Profit Surge and Higher Equity as It Targets Further Growth in FY2027
May 13, 2026
Renova reported strong results for the year to March 31, 2026, with revenue up 24.7% to ¥87.6 billion and operating profit more than doubling to ¥8.3 billion, driven by higher EBITDA and contributions from equity-method investments. Prof...
Renova Says Solar Plant Outage Will Have Only Minor Impact on Earnings
May 13, 2026
Renova has disclosed that its Karumai West Solar Power Plant, owned through subsidiary Karumai West Solar G.K., halted operations on April 22, 2026 after an anomaly near the grid interconnection point revealed a defect in power receiving and trans...
Renova to Expand Stock-Based Compensation Plan for External Directors
May 13, 2026
Renova’s board has approved a partial revision and continuation of its non-performance-based stock compensation plan for external directors, which will be submitted for shareholder approval at the June 2026 annual meeting. The plan is design...
Renova to Expand Performance-Based Stock Compensation Tied to Renewable Growth
May 13, 2026
Renova has resolved to continue and partially revise its performance-based stock compensation plan for internal directors and executive officers at the parent and subsidiary levels. The plan, structured through a share delivery trust, is designed ...
Renova Maintains Core Leadership While Strengthening Independent Oversight
May 13, 2026
Renova has announced a slate of personnel changes, centered on the reappointment of its existing board members, including Chairman Koichi Kawana and Representative Director, President and CEO, and Founder Yosuke Kiminami. The proposed structure, t...
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.