RENOVA (9519) AI Stock Analysis

• Market Cap: ¥62.58B
• Dividend Yield: N/A
• Average Volume (3M): 560.25K
• Price to Earnings (P/E): 10.0
• Beta (1Y): 1.29
• Revenue Growth: 28.85%
• EPS Growth: -9.70%
• Country: JP
• Employees: 287
• Sector: Real Estate
• Sector Strength: 53
• Industry: Renewable Utilities
• EPS (TTM): N/A
• Shares Outstanding: 91,245,900
• 10 Day Avg. Volume: 466,670
• 30 Day Avg. Volume: 560,246
• PEG Ratio: -0.29
• Price to Book (P/B): 0.64
• Price to Sales (P/S): 0.81
• P/FCF Ratio: 2.47
• 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: 58 Neutral
• Price Target: ¥757.00 ▲(17.91% Upside)

RENOVA's overall stock score reflects moderate financial performance with stable revenue growth but declining margins and high leverage. Technical indicators suggest bearish momentum, while the valuation appears attractive due to a low P/E ratio. The lack of earnings call data and corporate events limits further insights.

Positive Factors

Stable revenue from long-term PPAs

Long-term PPAs provide predictable, contract-backed cash flows that support project financing, capex planning and revenue visibility over multi-year horizons. This structural revenue stability reduces exposure to short-term power price swings and underpins durable credit and investment capacity.

Consistent revenue growth

Consistent, positive revenue growth sustains operating scale and supports ongoing investment in plant development. Even if growth has slowed, a stable top-line helps maintain contractual sales volumes, supports long-term customer relationships, and underpins investment and refinancing plans over the next several quarters.

Healthy operational margins

Relatively robust gross and EBITDA margins indicate efficient plant operations and favorable cost structure, creating durable earnings capacity. Strong operating profitability supports internal cash generation for maintenance capex and selective growth, enhancing long-term resilience despite cyclical variations.

Negative Factors

High financial leverage

An elevated debt-to-equity ratio materially increases refinancing, interest-rate and covenant risk, reducing financial flexibility. Over a 2-6 month horizon higher leverage can constrain access to low-cost capital, force tighter liquidity management and amplify earnings volatility if cash flows dip.

Declining free cash flow

An almost 19% decline in free cash flow growth signals weakening ability to fund capex, service debt and return capital without external financing. Persistently lower FCF undermines capital allocation flexibility and elevates execution risk for new projects and maintenance over the medium term.

Low equity cushion and modest ROE

A low equity ratio implies heavy reliance on debt funding, leaving limited loss-absorbing capacity in downturns. Combined with modest ROE, this suggests constrained ability to generate high returns on capital, which may limit investor support and slow balance-sheet strengthening efforts over coming quarters.

RENOVA Business Overview & Revenue Model

Company Description

RENOVA (9519) is a leading company in the renewable energy sector, primarily focused on the development and management of solar power generation facilities. The company operates in various markets, providing clean energy solutions through its innovative technology and infrastructure. RENOVA is committed to promoting sustainable practices and reducing carbon footprints by leveraging renewable resources to deliver reliable electricity.

How the Company Makes Money

RENOVA generates revenue primarily through the sale of electricity produced by its solar power plants. The company enters into long-term power purchase agreements (PPAs) with utilities and large corporations, ensuring a stable income stream. Additionally, RENOVA may earn income from government incentives and subsidies related to renewable energy production. The firm also engages in project financing and may partner with other energy companies or investors, which can enhance its capital resources and expand its operational capacity.

RENOVA Financial Statement Overview

Summary

RENOVA demonstrates moderate financial health with stable revenue growth and profitability, though margins have decreased. The balance sheet shows high leverage, which poses a risk, but the company maintains a solid asset base. Cash flow management needs improvement due to declining free cash flow, but overall cash generation remains adequate.

Income Statement

RENOVA's income statement shows moderate growth and profitability. The TTM data indicates a gross profit margin of 34.32% and a net profit margin of 7.95%, which are decent but have declined from previous years. Revenue growth is positive at 2.05% TTM, but slower compared to earlier periods. EBIT and EBITDA margins are healthy at 19.30% and 39.18% respectively, suggesting efficient operations, though they have decreased from past performance.

Balance Sheet

The balance sheet reflects a high debt-to-equity ratio of 3.66 TTM, indicating significant leverage. Return on equity is modest at 6.76% TTM, showing limited profitability relative to equity. The equity ratio stands at 16.75%, suggesting a lower proportion of equity financing. Overall, the balance sheet shows potential risk due to high leverage, but the company maintains a stable asset base.

Cash Flow

Cash flow analysis reveals a decline in free cash flow growth by 18.89% TTM, indicating potential cash management challenges. The operating cash flow to net income ratio is 0.49, and the free cash flow to net income ratio is 0.71, reflecting adequate cash generation relative to net income. Despite the decline in free cash flow, the company maintains a reasonable cash flow position.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	77.22B	70.25B	44.75B	33.58B	29.34B	20.55B
Gross Profit	26.50B	17.65B	27.34B	23.61B	22.29B	18.41B
EBITDA	30.25B	25.47B	26.88B	17.15B	18.53B	21.54B
Net Income	6.14B	2.69B	8.86B	2.68B	1.58B	11.51B
Balance Sheet
Total Assets	556.40B	530.05B	465.40B	303.38B	296.22B	220.55B
Cash, Cash Equivalents and Short-Term Investments	78.55B	87.47B	66.49B	49.63B	44.28B	40.36B
Total Debt	341.51B	332.92B	306.87B	206.08B	207.10B	160.41B
Total Liabilities	412.24B	396.63B	359.70B	238.65B	243.78B	195.68B
Stockholders Equity	93.19B	89.11B	68.00B	42.95B	31.89B	15.25B
Cash Flow
Free Cash Flow	17.51B	23.00B	2.82B	-804.00M	-3.35B	6.85B
Operating Cash Flow	24.66B	31.50B	18.73B	10.13B	12.15B	12.47B
Investing Cash Flow	-17.63B	-16.50B	-24.35B	-9.33B	-18.52B	-13.48B
Financing Cash Flow	-17.44B	-8.29B	1.38B	3.03B	3.37B	9.78B

RENOVA Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 642.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9519, the sentiment is Negative. The current price of 642 is below the 20-day moving average (MA) of 692.55, below the 50-day MA of 696.72, and below the 200-day MA of 750.07, indicating a bearish trend. The MACD of -1.95 indicates Positive momentum. The RSI at 43.87 is Neutral, neither overbought nor oversold. The STOCH value of 21.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:9519.

RENOVA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
1407	61 Neutral	¥64.68B	11.97	―	4.59%	-6.23%	-19.98%
9514	60 Neutral	¥8.00B	13.63	―	2.29%	4.05%	38.64%
9519	58 Neutral	¥62.58B	9.99	6.76%	―	28.85%	-9.70%
9517	55 Neutral	¥49.15B	22.82	―	1.79%	-15.80%	―
5074	48 Neutral	¥25.92B	-55.17	―	1.46%	25.53%	-128.67%
1711	44 Neutral	¥2.89B	-16.85	―	―	3.63%	7.60%

RENOVA Corporate Events

RENOVA’s December Power Sales Beat Plan as Biomass Expansion Drives Strong Growth

RENOVA reported that its renewable energy power plants in Japan generated 306.4 million kWh of electricity in December 2025, slightly exceeding its plan by 1.0%, with year-on-year output for the month up 54.4% and year-to-date generation rising 145.0% versus the previous year. The strong growth reflects expanded biomass capacity, steady performance from its solar and geothermal assets, and only minor impact from utility-imposed output curtailment, which reduced total annual planned revenue by just 0.113%, underscoring the resilience of RENOVA’s generation portfolio and the limited financial effect of grid-related restrictions so far in the current fiscal year.

The most recent analyst rating on (JP:9519) stock is a Hold with a Yen803.00 price target. To see the full list of analyst forecasts on RENOVA stock, see the JP:9519 Stock Forecast page.

RENOVA Restructures Organization and Management to Bolster Renewable Energy Competitiveness

RENOVA will merge its Project Development and Green Transformation divisions to create an integrated electricity sales framework that combines all of its power sources, aiming to better meet customer demand, allocate resources more flexibly amid intensifying domestic competition, and strengthen solution proposals by sharing expertise across different technologies. In conjunction with this reorganization, the company is reshuffling its management structure effective January 1, 2026, including appointing Naoki Okada as Executive Officer in charge of the Green Transformation Division, adjusting CEO Yosuke Kiminami’s scope of responsibility, and implementing several executive departures, signaling a strategic push to streamline governance and reinforce competitiveness in Japan’s renewable energy market.

The most recent analyst rating on (JP:9519) stock is a Hold with a Yen803.00 price target. To see the full list of analyst forecasts on RENOVA stock, see the JP:9519 Stock Forecast page.

RENOVA Reports November 2025 Electricity Sales with Notable Growth

RENOVA, Inc. reported its electricity sales for November 2025, showing a slight increase of 0.5% from planned figures and a significant year-over-year growth of 78.7%. Despite some output curtailment due to control instructions from Each Electric Powers, Incorporated, the impact on the company’s financial forecast remains minor, indicating resilience in its operations and strategic planning.

The most recent analyst rating on (JP:9519) stock is a Hold with a Yen803.00 price target. To see the full list of analyst forecasts on RENOVA stock, see the JP:9519 Stock Forecast page.

RENOVA Reports No Damage from Aomori Earthquake

RENOVA, Inc. announced that the recent earthquake off the east coast of Aomori Prefecture did not cause any damage to its solar PV and biomass power plants in the Tohoku region. The company assured stakeholders that it will provide updates if any future developments occur that may impact its financial standing.

The most recent analyst rating on (JP:9519) stock is a Hold with a Yen803.00 price target. To see the full list of analyst forecasts on RENOVA stock, see the JP:9519 Stock Forecast page.

RENOVA Secures Loan for Non-FIT Solar PV Expansion

RENOVA, Inc. has announced that its subsidiary, First Solar Power G.K., has executed a loan agreement with financial covenants to support project financing for its Non-FIT solar PV projects. This agreement is part of RENOVA’s strategy to expand its Non-FIT solar PV business, which is crucial for achieving its Medium-term Management Plan 2030 goals. The project finance arrangement covers approximately 170MW of the total 206MW capacity under existing PPAs, supporting the company’s aim to reach a total capacity of 5.0GW by the fiscal year ending March 2031. The impact on the current fiscal year’s financial results is expected to be minor.

The most recent analyst rating on (JP:9519) stock is a Hold with a Yen803.00 price target. To see the full list of analyst forecasts on RENOVA stock, see the JP:9519 Stock Forecast page.

RENOVA Reports October 2025 Electricity Sales with Strong Year-Over-Year Growth

RENOVA, Inc. reported its electricity sales figures for October 2025, highlighting a 5.9% decrease from planned sales but a significant 57% year-over-year increase. Despite minor output curtailment affecting revenue, the company remains on track with its annual revenue plan, reflecting strong growth and resilience in the renewable energy market.

The most recent analyst rating on (JP:9519) stock is a Hold with a Yen887.00 price target. To see the full list of analyst forecasts on RENOVA stock, see the JP:9519 Stock Forecast page.