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East Japan Railway Company
(9020)
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Rating:57Neutral
Price Target:
¥3,867.00
▲(7.90% Upside)
Action:Reiterated
Date:08/06/26
The score reflects improving operating performance and margins, but it is held back by high leverage and weak free-cash-flow consistency. Technicals are currently bearish (below major moving averages with subdued momentum), while valuation and dividend yield are broadly neutral.
Positive Factors
Rebound in revenue and profitability
The sustained recovery in revenue and margins shows that JR East has regained operating earnings power after earlier losses. Stronger profitability can support reinvestment across its rail network and adjacent businesses, while improving margins provide greater resilience over the next several quarters.
Negative Factors
Elevated leverage
JR East carries substantial leverage relative to its equity base, which can restrict financial flexibility during weaker demand or higher-rate conditions. Elevated debt also increases the importance of stable operating earnings and may limit the company's ability to fund expansion without additional financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Rebound in revenue and profitability
The sustained recovery in revenue and margins shows that JR East has regained operating earnings power after earlier losses. Stronger profitability can support reinvestment across its rail network and adjacent businesses, while improving margins provide greater resilience over the next several quarters.
Read all positive factors
East Japan Railway Company (9020) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥4.22T
Dividend Yield2.17%
Average Volume (3M)2.43M
Price to Earnings (P/E)17.3
Beta (1Y)0.06
Revenue Growth7.74%
EPS Growth3.47%
CountryJP
Employees70,623
SectorIndustrials
Sector Strength72
IndustryRailroads
Share Statistics
EPS (TTM)210.10
Shares Outstanding1,134,412,200
10 Day Avg. Volume2,254,780
30 Day Avg. Volume2,433,736
Financial Highlights & Ratios
PEG Ratio1.55
Price to Book (P/B)1.34
Price to Sales (P/S)1.33
P/FCF Ratio-33.29
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)241.36
Revenue Forecast (FY)¥3.32T
East Japan Railway Company Business Overview & Revenue Model
Company Description
East Japan Railway Company is a leading international passenger rail operator, with its primary operations centered in Japan. The company's multifaceted business activities are categorized into segments such as Transportation, Retail & Services, R...
How the Company Makes Money
JR East primarily earns revenue from transportation services and from non-transport businesses built around its station network and real estate assets.
1) Passenger transportation (core earnings driver)
- Commuter rail and conventional lines: JR ...
East Japan Railway Company Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
60
Neutral
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.14T | 3.08T | 2.89T | 2.73T | 2.41T | 1.98T |
| Gross Profit | 1.16T | 1.13T | 1.03T | 964.48B | 717.71B | 382.90B |
| EBITDA | 846.07B | 860.29B | 782.99B | 737.33B | 530.51B | 235.95B |
| Net Income | 237.17B | 247.85B | 224.28B | 196.45B | 99.23B | -94.95B |
Balance Sheet | ||||||
| Total Assets | 10.54T | 10.82T | 10.26T | 9.85T | 9.41T | 9.16T |
| Cash, Cash Equivalents and Short-Term Investments | 121.16B | 262.25B | 233.67B | 281.00B | 215.19B | 171.29B |
| Total Debt | 5.30T | 5.16T | 4.97T | 4.88T | 4.79T | 4.72T |
| Total Liabilities | 7.46T | 7.76T | 7.39T | 7.12T | 6.91T | 6.74T |
| Stockholders Equity | 3.06T | 3.05T | 2.86T | 2.72T | 2.47T | 2.39T |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -122.99B | -38.68B | -26.81B | 26.17B | -392.55B |
| Operating Cash Flow | 0.00 | 765.07B | 732.25B | 688.10B | 581.75B | 190.51B |
| Investing Cash Flow | 0.00 | -877.61B | -783.42B | -690.62B | -565.51B | -526.36B |
| Financing Cash Flow | 0.00 | 138.72B | 3.66B | 66.10B | 26.83B | 304.64B |
East Japan Railway Company Technical Analysis
Positive
3584.00
Price Trends
3455.21
Positive
3445.68
Positive
3568.67
Positive
Market Momentum
43.29
Negative
66.78
Neutral
85.77
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9020, the sentiment is Positive. The current price of 3584 is above the 20-day moving average (MA) of 3420.83, above the 50-day MA of 3455.21, and above the 200-day MA of 3568.67, indicating a bullish trend. The MACD of 43.29 indicates Negative momentum. The RSI at 66.78 is Neutral, neither overbought nor oversold. The STOCH value of 85.77 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9020.
East Japan Railway Company Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ¥3.78T | 6.72 | 10.96% | 0.80% | 7.78% | 16.25% | |
70 Outperform | ¥716.18B | 13.24 | 9.18% | 1.63% | 4.15% | -26.13% | |
69 Neutral | ¥580.87B | 10.22 | 9.24% | 2.53% | 5.23% | 13.35% | |
66 Neutral | ¥1.44T | 11.94 | 9.82% | 3.19% | 6.41% | -2.64% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | ¥641.75B | 17.66 | 6.99% | 3.35% | 2.63% | -13.44% | |
57 Neutral | ¥4.22T | 17.29 | 7.83% | 2.17% | 7.74% | 3.47% |
* Industrials Sector Average
JP:9020
East Japan Railway Company
3,736.00
132.82
3.69%
JP:9022
Central Japan Railway Company
3,980.00
-207.12
-4.95%
JP:9009
Keisei Electric Railway Co
1,410.50
115.96
8.96%
JP:9007
Odakyu Electric Railway Co
1,793.50
200.16
12.56%
JP:9001
Tobu Railway Co
2,962.50
455.15
18.15%
JP:9021
West Japan Railway Company
3,167.00
31.27
1.00%
East Japan Railway Company Corporate Events
JR East Posts Record Q1 Revenue but Lower Net Profit as Securities Gains Decline
Jul 31, 2026
East Japan Railway reported record first quarter operating revenues for FY2027.3, marking the sixth consecutive year of growth, driven mainly by higher passenger revenues, fare revisions and stronger real estate leasing. Despite increases in opera...
JR East Grows Revenue but Profit Slips as Dividend Outlook Rises
Jul 31, 2026
East Japan Railway Company, known as JR East, is a major Japanese rail operator listed on the Tokyo Stock Exchange, providing passenger railway services and related businesses across eastern Japan. The company’s operations include transporta...
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.