Want to see JP:9501 full AI Analyst Report?
Top Page
Tokyo Electric Power Company Holdings
(9501)
Select Model
Select Model
Rating:51Neutral
Price Target:
¥529.00
▲(2.38% Upside)
Action:Reiterated
Date:08/06/26
The score is held back primarily by weak and volatile fundamentals—especially inconsistent profitability, elevated leverage, and mostly negative free cash flow. Technicals provide modest support with improving near-term momentum, while the very low P/E boosts the score on valuation, albeit against a backdrop of earnings instability.
Positive Factors
Regulated network revenue model
TEPCO's transmission and distribution earnings sit within regulated frameworks that permit recovery of operating costs and infrastructure investment. That structure provides relatively stable, predictable cash flows versus merchant generation, supporting long-term funding for grid upkeep and capital programs.
Negative Factors
Volatile revenue and inconsistent profitability
TEPCO's erratic top-line and profit swings undermine predictable earnings and internal funding. Earnings instability complicates multi‑year planning for capex and tariffs, increases reliance on external financing when losses recur, and raises execution risk for operational turnaround strategies.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated network revenue model
TEPCO's transmission and distribution earnings sit within regulated frameworks that permit recovery of operating costs and infrastructure investment. That structure provides relatively stable, predictable cash flows versus merchant generation, supporting long-term funding for grid upkeep and capital programs.
Read all positive factors
Tokyo Electric Power Company Holdings (9501) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥829.61B
Dividend YieldN/A
Average Volume (3M)89.03M
Price to Earnings (P/E)2.2
Beta (1Y)1.06
Revenue Growth-5.31%
EPS GrowthN/A
CountryJP
Employees38,341
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)245.72
Shares Outstanding1,607,017,500
10 Day Avg. Volume89,096,750
30 Day Avg. Volume89,034,326
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.30
Price to Sales (P/S)0.16
P/FCF Ratio-3.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥400.00Price Target Upside-22.59% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering1
EPS Forecast (FY)96.5
Revenue Forecast (FY)¥6.47T
Tokyo Electric Power Company Holdings Business Overview & Revenue Model
Company Description
Tokyo Electric Power Company Holdings, Inc. (TEPCO) operates as a key player in the energy sector, handling the entire process of electric power generation, transmission, distribution, and retail for both domestic Japanese and international market...
How the Company Makes Money
TEPCO Holdings makes money primarily through its group companies’ electricity-related businesses. Key revenue streams typically include: (1) Electricity sales to end users: revenues earned from selling electricity to residential, commercial, and i...
Tokyo Electric Power Company Holdings Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
52
Neutral
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.38T | 6.33T | 6.81T | 6.92T | 7.80T | 5.31T |
| Gross Profit | 489.56B | 337.69B | 234.45B | 278.86B | -228.97B | 46.23B |
| EBITDA | 891.06B | 87.24B | 635.88B | 718.51B | 277.51B | 477.90B |
| Net Income | 393.63B | -454.26B | 161.28B | 267.85B | -123.63B | 5.64B |
Balance Sheet | ||||||
| Total Assets | 15.37T | 15.58T | 14.99T | 14.60T | 13.56T | 12.84T |
| Cash, Cash Equivalents and Short-Term Investments | 600.96B | 937.23B | 936.34B | 1.24T | 717.91B | 862.38B |
| Total Debt | 6.71T | 6.61T | 6.69T | 6.45T | 5.87T | 5.53T |
| Total Liabilities | 11.95T | 12.16T | 11.20T | 11.06T | 10.44T | 9.63T |
| Stockholders Equity | 3.40T | 3.39T | 3.76T | 3.51T | 3.10T | 3.18T |
Cash Flow | ||||||
| Free Cash Flow | -312.42B | -312.42B | -433.04B | 3.55B | -654.53B | -44.90B |
| Operating Cash Flow | 596.59B | 596.59B | 400.28B | 708.38B | -23.38B | 507.01B |
| Investing Cash Flow | -663.60B | -663.60B | -859.21B | -698.79B | -388.84B | -559.79B |
| Financing Cash Flow | 110.43B | 110.43B | 194.17B | 541.50B | 319.98B | 560.60B |
Tokyo Electric Power Company Holdings Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ¥2.77T | 6.90 | 11.51% | 3.17% | -2.90% | -7.99% | |
72 Outperform | ¥656.49B | 7.92 | 7.93% | 3.50% | 2.21% | -47.89% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
60 Neutral | ¥220.92B | 7.97 | 9.95% | 3.18% | -3.77% | -56.08% | |
57 Neutral | ¥707.28B | 20.55 | 4.27% | 2.63% | -7.32% | -70.76% | |
55 Neutral | ¥353.17B | 9.27 | 9.14% | 2.87% | -4.69% | -62.74% | |
51 Neutral | ¥829.61B | 2.16 | -14.76% | ― | -5.31% | ― |
* Utilities Sector Average
JP:9501
Tokyo Electric Power Company Holdings
538.30
-191.80
-26.27%
JP:9504
Chugoku Electric Power Co
980.70
106.10
12.13%
JP:9513
Electric Power Development Co
4,026.00
1,275.01
46.35%
JP:9503
Kansai Electric Power Company
2,608.50
597.11
29.69%
JP:9506
Tohoku Electric Power Company
1,327.00
198.70
17.61%
JP:9509
Hokkaido Electric Power Company,Incorporated
1,094.00
-20.50
-1.84%
Tokyo Electric Power Company Holdings Corporate Events
TEPCO Posts Higher Sales but Operating Loss as Dividend Freeze Continues
Jul 29, 2026
Tokyo Electric Power Company Holdings reported consolidated net sales of ¥1.48 trillion for the three months ended June 30, 2026, a 3.9% year-on-year increase, but swung to an operating loss of ¥34.3 billion amid sharply lower ordinary i...
TEPCO Books ¥15.6 Billion Extraordinary Loss on Revised Fukushima Compensation
Jul 29, 2026
Tokyo Electric Power Company Holdings has booked an extraordinary loss in its results for the first quarter of the fiscal year ending March 31, 2027. The loss stems from updated estimates of nuclear damage compensation related to the Fukushima Dai...
TEPCO Secures Additional 5.8 Billion Yen for Nuclear Accident Compensation
Jul 23, 2026
Tokyo Electric Power Company Holdings has received an additional 5.8 billion yen in grants from the Nuclear Damage Compensation and Decommissioning Facilitation Corporation, under a Special Business Plan revised earlier this year. This latest fund...
TEPCO details state-backed control and nuclear decommissioning support
Jun 26, 2026
Tokyo Electric Power Company Holdings has disclosed that the Nuclear Damage Compensation and Decommissioning Facilitation Corporation holds 50.08% of its voting rights, effectively making the public, non-profit body its controlling shareholder. Th...
TEPCO Secures Additional State-Backed Funding for Nuclear Compensation Burden
Jun 24, 2026
Tokyo Electric Power Company Holdings has secured an additional 34.4 billion yen in grants from the Nuclear Damage Compensation and Decommissioning Facilitation Corporation under a revised Special Business Plan approved in March 2026. This new ass...
TEPCO Secures Additional ¥7.2 Billion Grant for Nuclear Damage Compensation
May 22, 2026
Tokyo Electric Power Company Holdings has received a new grant of 7.2 billion yen from the Nuclear Damage Compensation and Decommissioning Facilitation Corporation under a revised Special Business Plan approved in March 2026. This latest tranche f...
TEPCO Revises FY2025 Presentation Narratives Without Changing Headline Results
May 14, 2026
Tokyo Electric Power Company Holdings has corrected parts of its FY2025 financial results presentation, updating the description of year-on-year comparisons for its TEPCO FP segment while leaving previously disclosed financial figures unchanged. T...
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.