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Tobu Railway Co
(9001)
Select Model
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Rating:69Neutral
Price Target:
¥3,303.00
▲(11.23% Upside)
Action:Reiterated
Date:08/04/26
The score is primarily held back by financial performance—especially negative free cash flow in the last two years and still-high leverage—despite a clear post-2021 earnings recovery. Offsetting this, technicals show a strong uptrend with healthy momentum, and valuation is supportive with a low P/E and a moderate dividend yield.
Positive Factors
Integrated rail + real estate business model
Tobu's integrated model ties rail operations to real estate, retail and leisure assets along its corridors, creating recurring rental and retail income that is directly supported by ridership. This diversification across corridor-linked businesses enhances revenue stability and a durable competitive moat versus standalone rail peers.
Negative Factors
Negative free cash flow in recent years
Persistent negative free cash flow despite positive operating cash flow signals higher capex or working-capital consumption tied to development projects. This weakens ability to self-finance growth or accelerate debt reduction, raising reliance on external funding and constraining capital allocation flexibility over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated rail + real estate business model
Tobu's integrated model ties rail operations to real estate, retail and leisure assets along its corridors, creating recurring rental and retail income that is directly supported by ridership. This diversification across corridor-linked businesses enhances revenue stability and a durable competitive moat versus standalone rail peers.
Read all positive factors
Tobu Railway Co (9001) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥576.65B
Dividend Yield2.4%
Average Volume (3M)640.82K
Price to Earnings (P/E)10.3
Beta (1Y)0.36
Revenue Growth5.23%
EPS Growth13.35%
CountryJP
Employees18,148
SectorIndustrials
Sector Strength72
IndustryRailroads
Share Statistics
EPS (TTM)285.53
Shares Outstanding197,266,820
10 Day Avg. Volume734,110
30 Day Avg. Volume640,820
Financial Highlights & Ratios
PEG Ratio0.85
Price to Book (P/B)0.91
Price to Sales (P/S)0.85
P/FCF Ratio-289.31
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)293.42
Revenue Forecast (FY)¥678.33B
Tobu Railway Co Business Overview & Revenue Model
Company Description
Established in 1896 and headquartered in Tokyo, Japan, Tobu Railway Co., Ltd. manages an extensive private rail network throughout the Kanto region. Beyond its core transportation business, the company has diversified into several sectors, includi...
How the Company Makes Money
Tobu Railway generates earnings primarily through (1) transportation revenue and (2) non-transport businesses built around its rail corridor. In transportation, it earns passenger fare revenue from commuting and leisure ridership across its railwa...
Tobu Railway Co Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
62
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 663.11B | 655.43B | 631.46B | 635.96B | 614.75B | 506.02B |
| Gross Profit | 204.44B | 202.19B | 180.44B | 177.31B | 156.04B | 119.56B |
| EBITDA | 143.39B | 142.97B | 135.72B | 126.80B | 104.55B | 85.68B |
| Net Income | 55.82B | 55.62B | 51.33B | 48.16B | 29.18B | 13.45B |
Balance Sheet | ||||||
| Total Assets | 1.85T | 1.86T | 1.76T | 1.71T | 1.75T | 1.73T |
| Cash, Cash Equivalents and Short-Term Investments | 37.30B | 44.37B | 35.11B | 31.45B | 69.25B | 46.07B |
| Total Debt | 803.89B | 788.99B | 782.87B | 752.45B | 798.41B | 811.74B |
| Total Liabilities | 1.22T | 1.24T | 1.20T | 1.17T | 1.27T | 1.27T |
| Stockholders Equity | 627.22B | 615.61B | 554.51B | 535.69B | 474.75B | 452.57B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -1.94B | -20.81B | 8.76B | 43.85B | 12.87B |
| Operating Cash Flow | 0.00 | 106.64B | 90.07B | 91.69B | 101.11B | 66.85B |
| Investing Cash Flow | 0.00 | -82.72B | -86.78B | -61.63B | -52.71B | -30.96B |
| Financing Cash Flow | 0.00 | -14.65B | 321.00M | -67.92B | -25.29B | -35.01B |
Tobu Railway Co Technical Analysis
Neutral
2969.50
Price Trends
2981.20
Negative
2907.56
Positive
2828.44
Positive
Market Momentum
-1.27
Positive
43.32
Neutral
15.45
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9001, the sentiment is Neutral. The current price of 2969.5 is below the 20-day moving average (MA) of 2978.93, below the 50-day MA of 2981.20, and above the 200-day MA of 2828.44, indicating a neutral trend. The MACD of -1.27 indicates Positive momentum. The RSI at 43.32 is Neutral, neither overbought nor oversold. The STOCH value of 15.45 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:9001.
Tobu Railway Co Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ¥694.09B | 13.00 | 9.18% | 1.66% | 4.15% | -26.13% | |
69 Neutral | ¥576.65B | 10.30 | 9.24% | 2.59% | 5.23% | 13.35% | |
66 Neutral | ¥1.38T | 11.67 | 9.82% | 3.37% | 6.41% | -2.64% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | ¥337.48B | 13.34 | ― | 1.68% | 3.35% | 12.80% | |
60 Neutral | ¥639.61B | 17.60 | 6.99% | 3.35% | 2.63% | -13.44% | |
57 Neutral | ¥3.97T | 16.75 | 7.83% | 2.31% | 7.74% | 3.47% |
* Industrials Sector Average
JP:9001
Tobu Railway Co
2,911.00
196.88
7.25%
JP:9020
East Japan Railway Company
3,478.00
-241.42
-6.49%
JP:9009
Keisei Electric Railway Co
1,369.50
-41.49
-2.94%
JP:9007
Odakyu Electric Railway Co
1,763.00
59.44
3.49%
JP:9021
West Japan Railway Company
2,990.00
-282.59
-8.63%
JP:9044
Nankai Electric Railway Co., Ltd.
3,102.00
388.35
14.31%
Tobu Railway Co Corporate Events
Tobu Railway Posts Broad-Based Earnings Growth in First Quarter 2026
Aug 4, 2026
Tobu Railway reported consolidated results for the three months ended June 30, 2026, showing operating revenue rising to ¥156.2 billion and operating profit to ¥21.0 billion, both up year-on-year and above its plan. Ordinary profit and p...
Tobu Railway Posts Higher Q1 Profits and Raises Annual Dividend Target
Aug 4, 2026
Tobu Railway reported consolidated operating revenue of ¥156.3 billion for the three months ended June 30, 2026, up 5.2% year on year, with operating profit rising 10.6% to ¥21.0 billion and profit attributable to owners of parent edging...
Tobu Railway Raises Annual Dividend and Signals Further Payout Increase
May 15, 2026
Tobu Railway has approved a year-end dividend of ¥37.50 per share for the fiscal year ended March 31, 2026, matching its latest forecast and lifting the total annual dividend to ¥70 including the interim payout. The total year-end distri...
Tobu Railway Lifts Annual Dividend on Improved Earnings
May 15, 2026
Tobu Railway’s board has approved a year-end dividend of ¥37.50 per share for the fiscal year ended March 31, 2026, with a total payout of ¥7,362 million, up from ¥32.50 per share a year earlier. This brings the total annual d...
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.