Hokkaido Gas Co., Ltd. (JP:9534)
:9534
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Hokkaido Gas Co., Ltd.
(9534)
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Rating:71Outperform
Price Target:
¥914.00
▲(34.02% Upside)
Action:UpgradedDate:05/01/26
The score is driven primarily by solid financial performance, led by a much stronger balance sheet and steady profitability, partially offset by uneven cash generation. Technicals are mixed-to-weak near term with the price below key moving averages, while valuation is moderate with a mid-range P/E and a modest dividend yield.
Positive Factors
Strengthened balance sheet
A marked reduction in debt and a rising equity base materially lowers financial risk and increases optionality. With far lower leverage the company gains flexibility to fund capex, absorb shocks, and negotiate refinancing on better terms—traits that support durable utility operations.
Negative Factors
Volatile cash generation
Meaningful swings in operating cash flow and material drops in free cash flow reduce the company’s ability to consistently fund capex, dividends, or strategic initiatives from internal sources. Persistent volatility forces reliance on timing of financing and constrains long‑term capital planning.
Read all positive and negative factors
Positive Factors
Negative Factors
Strengthened balance sheet
A marked reduction in debt and a rising equity base materially lowers financial risk and increases optionality. With far lower leverage the company gains flexibility to fund capex, absorb shocks, and negotiate refinancing on better terms—traits that support durable utility operations.
Read all positive factors
Hokkaido Gas Co., Ltd. (9534) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥69.52B
Dividend Yield2.88%
Average Volume (3M)96.14K
Price to Earnings (P/E)3.3
Beta (1Y)0.75
Revenue Growth2.48%
EPS Growth10.65%
CountryJP
Employees1,536
SectorUtilities
Sector Strength65
IndustryRegulated Gas
Share Statistics
EPS (TTM)130.64
Shares Outstanding88,689,030
10 Day Avg. Volume73,430
30 Day Avg. Volume96,140
Financial Highlights & Ratios
PEG Ratio0.63
Price to Book (P/B)0.79
Price to Sales (P/S)0.44
P/FCF Ratio6.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Hokkaido Gas Co., Ltd. Business Overview & Revenue Model
Company Description
Hokkaido Gas Co., Ltd. engages in gas, and heat and power supply businesses in Japan. The company is also involved in the purification and sale of gas by-products; production and sale of gas appliances, as well as related construction works; and o...
How the Company Makes Money
Hokkaido Gas primarily makes money by selling city gas to end users. Revenue is generated from (1) gas sales volume (metered usage) to residential, commercial, and industrial customers delivered via its distribution network, and (2) customer-relat...
Hokkaido Gas Co., Ltd. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
82
Very Positive
Cash Flow
68
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 174.52B | 170.29B | 173.88B | 174.84B | 126.96B |
| Gross Profit | 55.01B | 50.37B | 49.09B | 44.94B | 37.00B |
| EBITDA | 16.44B | 29.81B | 30.28B | 27.77B | 21.25B |
| Net Income | 11.53B | 10.40B | 11.63B | 9.96B | 5.24B |
Balance Sheet | |||||
| Total Assets | 198.20B | 197.84B | 188.36B | 185.37B | 161.88B |
| Cash, Cash Equivalents and Short-Term Investments | 9.80B | 11.32B | 9.47B | 2.72B | 9.57B |
| Total Debt | 52.61B | 51.66B | 62.73B | 68.09B | 58.81B |
| Total Liabilities | 98.49B | 109.35B | 109.35B | 117.37B | 102.68B |
| Stockholders Equity | 97.42B | 86.35B | 76.89B | 65.89B | 57.12B |
Cash Flow | |||||
| Free Cash Flow | 12.62B | 14.73B | 15.86B | -14.60B | 8.22B |
| Operating Cash Flow | 27.03B | 29.83B | 31.68B | 6.70B | 19.71B |
| Investing Cash Flow | -16.53B | -20.06B | -16.75B | -22.56B | -11.11B |
| Financing Cash Flow | -12.03B | -7.92B | -8.17B | 9.03B | -5.18B |
Hokkaido Gas Co., Ltd. Technical Analysis
Positive
682.00
Price Trends
880.23
Positive
820.05
Positive
729.84
Positive
Market Momentum
9.04
Negative
55.98
Neutral
67.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9534, the sentiment is Positive. The current price of 682 is below the 20-day moving average (MA) of 883.57, below the 50-day MA of 880.23, and below the 200-day MA of 729.84, indicating a bullish trend. The MACD of 9.04 indicates Negative momentum. The RSI at 55.98 is Neutral, neither overbought nor oversold. The STOCH value of 67.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9534.
Hokkaido Gas Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥102.41B | 27.62 | 7.99% | 3.89% | -0.51% | 14.01% | |
71 Outperform | ¥69.52B | 3.34 | ― | 2.88% | 2.48% | 10.65% | |
69 Neutral | ¥24.93B | -17.01 | ― | 2.18% | 5.26% | ― | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
62 Neutral | ¥44.33B | 3.72 | ― | 1.81% | 1.29% | 27.31% | |
61 Neutral | ¥81.75B | 19.64 | 9.07% | 3.61% | 2.90% | 13.95% | |
59 Neutral | ¥451.24B | 15.57 | 6.03% | 1.81% | -0.75% | 33.35% |
* Utilities Sector Average
JP:9534
Hokkaido Gas Co., Ltd.
785.00
266.76
51.48%
JP:9533
TOHO GAS Co
1,232.00
198.24
19.18%
JP:9536
SAIBU GAS HOLDINGS CO. LTD.
2,208.00
464.47
26.64%
JP:9543
SHIZUOKA GAS CO. LTD.
1,382.00
284.13
25.88%
JP:9537
Hokuriku Gas Co., Ltd.
5,200.00
1,662.41
46.99%
JP:9539
Keiyo Gas Co., Ltd.
1,360.00
139.02
11.39%
Hokkaido Gas Co., Ltd. Corporate Events
Hokkaido Gas Extends Study Phase for Carbon-Neutral Hub in Tomakomai
Apr 30, 2026
Hokkaido Gas said it will continue detailed studies on facilities design and construction timelines for a planned carbon-neutral hub at Tomakomai East Port, extending work beyond the original fiscal 2024–2025 window. The company plans to dis...
Hokkaido Gas Lifts Earnings and Dividend but Sees Profit Dip Ahead
Apr 30, 2026
Hokkaido Gas reported consolidated net sales of ¥174.5 billion for the fiscal year ended March 31, 2026, up 2.5% year on year, with operating profit rising 14.7% to ¥16.4 billion and profit attributable to owners of the parent increasing...
Hokkaido Gas Lifts Year-End Dividend Forecast on Strong Performance
Apr 30, 2026
Hokkaido Gas has revised its year-end dividend forecast for the fiscal year ended March 31, 2026, raising the planned fiscal year-end dividend per share from ¥11.50 to ¥13.00 and the annual dividend from ¥23.00 to ¥24.50. The m...
Hokkaido Gas Lifts Profits and Full-Year Outlook on Strong Nine-Month Results
Feb 9, 2026
Hokkaido Gas Co., Ltd. reported consolidated net sales of ¥114.8 billion for the nine months ended December 31, 2025, up 3.3% year on year, with operating profit surging 56.0% to ¥8.1 billion and profit attributable to owners of parent c...
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.