RENOVA Inc (JP:9519)
:9519
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RENOVA
(9519)
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Rating:58Neutral
Price Target:
¥1,101.00
▲(71.50% Upside)
Action:ReiteratedDate:04/25/26
The score is held back primarily by balance-sheet risk (high leverage) and only moderate cash conversion despite positive free cash flow. Technicals are a clear positive with strong trend strength and supportive momentum, but valuation is a meaningful headwind given the high P/E and no provided dividend yield.
Positive Factors
Stable revenue from long-term PPAs and subsidies
RENOVA’s revenue model is anchored in long-dated PPAs and government incentives, which create predictable cash flows and reduce merchant exposure. That stability supports multi-year project financing, allowable capex planning and durable revenue visibility for 2–6 months and beyond.
Negative Factors
High leverage / debt-heavy capital structure
A debt-to-equity ratio above 3x leaves RENOVA exposed to interest-rate moves and refinancing risk, constraining its financial flexibility. High leverage can limit capacity to pursue opportunistic projects or absorb production shocks, increasing the probability of covenant or liquidity pressure if conditions deteriorate.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable revenue from long-term PPAs and subsidies
RENOVA’s revenue model is anchored in long-dated PPAs and government incentives, which create predictable cash flows and reduce merchant exposure. That stability supports multi-year project financing, allowable capex planning and durable revenue visibility for 2–6 months and beyond.
Read all positive factors
RENOVA (9519) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥102.46B
Dividend YieldN/A
Average Volume (3M)560.25K
Price to Earnings (P/E)48.4
Beta (1Y)1.15
Revenue Growth34.74%
EPS Growth203.55%
CountryJP
Employees287
SectorReal Estate
Sector Strength53
IndustryRenewable Utilities
Share Statistics
EPS (TTM)3.55
Shares Outstanding91,252,300
10 Day Avg. Volume466,670
30 Day Avg. Volume560,246
Financial Highlights & Ratios
PEG Ratio-0.29
Price to Book (P/B)0.64
Price to Sales (P/S)0.81
P/FCF Ratio2.47
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥760.00Price Target Upside18.38% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)24.6
Revenue Forecast (FY)¥98.33B
RENOVA Business Overview & Revenue Model
Company Description
RENOVA, Inc. operates in the renewable energy industry in Japan. It operates through Renewable Energy Power Generation Business and Renewable Energy Development and Operation Business segments. The Renewable Energy Power Generation Business segmen...
How the Company Makes Money
RENOVA generates revenue primarily through the production and sale of electricity generated from its renewable energy power plants. The company receives income by selling electricity to utilities and other customers through long-term power purchas...
RENOVA Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
42
Neutral
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 85.63B | 70.25B | 44.75B | 33.58B | 29.34B | 20.55B |
| Gross Profit | 24.44B | 17.65B | 27.34B | 23.61B | 22.29B | 18.41B |
| EBITDA | 33.62B | 25.47B | 26.88B | 17.15B | 18.53B | 21.54B |
| Net Income | 7.24B | 2.69B | 8.86B | 2.68B | 1.58B | 11.51B |
Balance Sheet | ||||||
| Total Assets | 599.06B | 529.81B | 465.16B | 303.38B | 296.22B | 220.55B |
| Cash, Cash Equivalents and Short-Term Investments | 86.48B | 87.47B | 66.49B | 49.63B | 44.28B | 40.36B |
| Total Debt | 347.13B | 332.92B | 306.87B | 206.08B | 207.10B | 160.41B |
| Total Liabilities | 426.43B | 396.63B | 359.70B | 238.65B | 243.78B | 195.68B |
| Stockholders Equity | 112.32B | 88.87B | 67.77B | 42.95B | 31.89B | 15.25B |
Cash Flow | ||||||
| Free Cash Flow | 18.33B | 23.00B | 2.82B | -804.00M | -3.35B | 6.85B |
| Operating Cash Flow | 26.43B | 31.50B | 18.73B | 10.13B | 12.15B | 12.47B |
| Investing Cash Flow | -18.14B | -16.50B | -24.35B | -9.33B | -18.52B | -13.48B |
| Financing Cash Flow | -14.72B | -8.29B | 1.38B | 3.03B | 3.37B | 9.78B |
RENOVA Technical Analysis
Positive
642.00
Price Trends
802.04
Positive
751.23
Positive
788.47
Positive
Market Momentum
74.40
Negative
67.76
Neutral
84.91
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9519, the sentiment is Positive. The current price of 642 is below the 20-day moving average (MA) of 906.70, below the 50-day MA of 802.04, and below the 200-day MA of 788.47, indicating a bullish trend. The MACD of 74.40 indicates Negative momentum. The RSI at 67.76 is Neutral, neither overbought nor oversold. The STOCH value of 84.91 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9519.
RENOVA Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | ¥710.78B | 6.68 | 7.17% | 3.22% | -2.69% | -3.22% | |
74 Outperform | ¥83.64B | 5.57 | ― | 1.79% | -7.82% | ― | |
71 Outperform | ¥212.91B | 13.52 | 13.70% | 2.36% | -5.11% | -31.49% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | ¥343.91B | 16.42 | 12.27% | 3.23% | -5.68% | -30.36% | |
63 Neutral | ¥55.45B | 3.56 | 4.73% | 2.31% | -4.18% | -12.63% | |
58 Neutral | ¥102.46B | 48.38 | 7.71% | ― | 34.74% | 203.55% |
* Real Estate Sector Average
JP:9519
RENOVA
1,128.00
476.00
73.01%
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RENOVA Corporate Events
RENOVA Lifts Power Sales in March as Output Curtailment Impact Stays Limited
Apr 13, 2026
RENOVA reported March 2026 electricity sales of 318,042,714 kWh from its renewable power portfolio in Japan, exceeding its internal plan by 5.4% and marking a 50.8% year-on-year increase. For the fiscal year ended March 31, 2026, total electricity...
Renova Secures Financing for One of Japan’s Largest Merchant Battery Projects
Mar 31, 2026
RENOVA has secured project financing from SBI Shinsei Bank for the R1 Energy Storage Facility in Kikugawa City, Shizuoka Prefecture, a 90MW/270MWh merchant storage battery project that ranks among the largest of its kind in Japan. Building on its ...
Renova Reshapes Finance and Global Business Leadership Ahead of FY2026
Mar 27, 2026
Renova has announced personnel changes effective April 1, 2026, aimed at strengthening its financial governance and international expansion capabilities. Chief Financial Officer Kazushi Yamaguchi will expand his remit to oversee both the Finance ...
RENOVA Secures ¥3 Billion Syndicated Loan to Fuel Renewable Energy Expansion
Mar 27, 2026
RENOVA has signed a 3 billion yen syndicated loan agreement arranged by The Chiba Bank and joined by several regional banks under the TSUBASA Alliance, securing long-term funds to support its future business development. By expanding its corporate...
Renova Cuts Revenue Outlook but Lifts Profit Forecast on Storage Battery Gains
Mar 27, 2026
Renova revised its full-year consolidated forecast for the fiscal year ending March 31, 2026, trimming revenue, EBITDA, and operating profit as the suspension of operations at the Omaezakikou Biomass Power Plant weighs on its top line. Despite the...
RENOVA’s February Power Sales Rise Year on Year Despite Output Curtailments
Mar 12, 2026
RENOVA reported February 2026 electricity sales of 272.6 million kWh from 13 solar, seven biomass and one geothermal plant in Japan, 7.4% below its internal plan but up 47.1% year on year, reflecting the impact of newly added biomass capacity and ...
Renova’s January Power Sales Beat Plan as Renewable Portfolio Expands
Feb 12, 2026
Renova reported January 2026 electricity sales of 289.7 million kWh from 21 solar, biomass and geothermal power plants in Japan, 2.0% above its internal plan and up 17.9% year on year. Cumulative generation for the fiscal year to date reached abou...
RENOVA Flags Policy and Environmental Risks in Q3 FY2026 Supplementary Disclosure
Feb 6, 2026
RENOVA released supplementary material on its financial results for the third quarter of the fiscal year ending March 2026, emphasizing that the information is for corporate disclosure rather than investment solicitation and that figures are based...
RENOVA Swings to Profit on Renewables Growth, Lifts Full‑Year Forecasts
Feb 6, 2026
RENOVA reported strong consolidated results for the nine months ended December 31, 2025, with revenue rising 31.6% year on year to ¥64.0 billion and EBITDA jumping 45.6%, driven by improved profitability in its power generation portfolio, inc...
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.