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Kansai Electric Power Company
(9503)
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Rating:69Neutral
Price Target:
¥3,182.00
▲(21.99% Upside)
Action:Reiterated
Date:08/21/26
The score is driven by attractive valuation (low P/E and a ~2.93% dividend) and constructive technical momentum (price above major moving averages with a positive MACD). These positives are balanced by only mid-level financial performance due to cash-flow volatility/thin recent free cash flow and still-meaningful leverage despite recent improvement.
Positive Factors
Earnings recovery
The recovery from the 2023 earnings trough shows that the company has restored meaningful profitability across the following reporting periods. This provides a stronger base for funding operations and investment, although maintaining that earnings improvement remains important.
Negative Factors
Uneven revenue trend
The recent top-line pattern does not show consistent growth, as strong earlier expansion was followed by slower performance and a decline in 2026. Uneven revenue can limit operating leverage and makes sustained earnings improvement more dependent on profitability management.
Read all positive and negative factors
Positive Factors
Negative Factors
Earnings recovery
The recovery from the 2023 earnings trough shows that the company has restored meaningful profitability across the following reporting periods. This provides a stronger base for funding operations and investment, although maintaining that earnings improvement remains important.
Read all positive factors
Kansai Electric Power Company (9503) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥2.83T
Dividend Yield3.21%
Average Volume (3M)4.36M
Price to Earnings (P/E)7.1
Beta (1Y)0.81
Revenue Growth-2.90%
EPS Growth-7.99%
CountryJP
Employees32,482
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)375.15
Shares Outstanding1,114,927,500
10 Day Avg. Volume4,328,110
30 Day Avg. Volume4,363,463
Financial Highlights & Ratios
PEG Ratio-0.35
Price to Book (P/B)0.83
Price to Sales (P/S)0.71
P/FCF Ratio31.32
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥3,190.00Price Target Upside22.29% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)309.43
Revenue Forecast (FY)¥4.43T
Kansai Electric Power Company Business Overview & Revenue Model
Company Description
The Kansai Electric Power Company, Incorporated (KEPCO) is a major Japanese enterprise with a diversified portfolio spanning electricity, gas, heat supply, and telecommunication services nationwide. The company operates through four principal segm...
How the Company Makes Money
Kansai Electric Power Company mainly makes money by selling electricity to end users in its service area. Its revenue model is built around (1) retail electricity sales to regulated and competitive customers (households, businesses, and industrial...
Kansai Electric Power Company Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
58
Neutral
Cash Flow
49
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.15T | 4.06T | 4.34T | 4.06T | 3.95T | 2.85T |
| Gross Profit | 328.98B | 437.56B | 768.36B | 1.00T | 213.81B | 370.44B |
| EBITDA | 777.64B | 901.38B | 971.85B | 1.02T | 349.06B | 462.23B |
| Net Income | 417.95B | 380.05B | 420.37B | 441.87B | 17.68B | 85.84B |
Balance Sheet | ||||||
| Total Assets | 9.82T | 9.85T | 9.65T | 9.03T | 8.77T | 8.66T |
| Cash, Cash Equivalents and Short-Term Investments | 533.68B | 737.41B | 942.45B | 566.00B | 322.52B | 493.08B |
| Total Debt | 4.38T | 4.31T | 4.49T | 4.59T | 5.02T | 4.85T |
| Total Liabilities | 6.20T | 6.35T | 6.55T | 6.70T | 6.93T | 6.95T |
| Stockholders Equity | 3.57T | 3.46T | 3.07T | 2.27T | 1.79T | 1.66T |
Cash Flow | ||||||
| Free Cash Flow | 91.92B | 91.92B | 80.40B | 698.65B | -347.92B | -131.50B |
| Operating Cash Flow | 652.38B | 652.38B | 575.30B | 1.15T | 128.04B | 410.31B |
| Investing Cash Flow | -571.92B | -571.92B | -342.35B | -428.05B | -417.88B | -532.63B |
| Financing Cash Flow | -290.22B | -290.22B | 137.67B | -488.91B | 117.10B | 318.77B |
Kansai Electric Power Company Technical Analysis
Positive
2608.50
Price Trends
2626.64
Positive
2452.56
Positive
2464.58
Positive
Market Momentum
-16.43
Positive
45.56
Neutral
41.16
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9503, the sentiment is Positive. The current price of 2608.5 is below the 20-day moving average (MA) of 2766.42, below the 50-day MA of 2626.64, and above the 200-day MA of 2464.58, indicating a neutral trend. The MACD of -16.43 indicates Positive momentum. The RSI at 45.56 is Neutral, neither overbought nor oversold. The STOCH value of 41.16 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9503.
Kansai Electric Power Company Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ¥639.00B | 7.67 | 7.56% | 3.13% | 2.21% | -47.89% | |
69 Neutral | ¥2.83T | 7.06 | 12.23% | 3.21% | -2.90% | -7.99% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
64 Neutral | ¥224.21B | 4.61 | 10.86% | 2.56% | -7.27% | -27.05% | |
60 Neutral | ¥225.75B | 8.06 | 6.17% | 3.05% | -3.77% | -56.08% | |
55 Neutral | ¥364.05B | 9.57 | 4.96% | 3.17% | -4.69% | -62.74% | |
51 Neutral | ¥834.42B | 2.12 | 12.23% | 10.07% | -5.31% | ― |
* Utilities Sector Average
JP:9503
Kansai Electric Power Company
2,650.00
521.11
24.48%
JP:9504
Chugoku Electric Power Co
1,010.50
174.80
20.92%
JP:9505
Hokuriku Electric Power Company
1,074.00
224.80
26.47%
JP:9506
Tohoku Electric Power Company
1,278.50
206.93
19.31%
JP:9501
Tokyo Electric Power Company Holdings
520.80
-242.70
-31.79%
JP:9509
Hokkaido Electric Power Company,Incorporated
1,099.50
16.07
1.48%
Kansai Electric Power Company Corporate Events
Kansai Electric Shuts Mihama Unit 3 Reactor After Feedwater System Leak
Sep 17, 2026
Kansai Electric Power manually shut down the reactor at Mihama Nuclear Power Station Unit 3 during its 29th refueling outage after an employee detected a water leak from insulation around an air vent valve in the high-pressure feedwater heating sy...
Kansai Electric Admits Cost Error in Regulated Power Rates
Sep 17, 2026
Kansai Electric Power has disclosed an error in its cost calculations for regulated electricity rates, linked to the discount rate used for generator wheeling charges under new rules introduced in April 2024. The miscalculation, found while prepar...
Kansai Electric’s Grid Unit to Raise Wheeling Tariffs After Revenue Cap Review
Sep 11, 2026
Kansai Electric Power said its grid subsidiary, Kansai Transmission and Distribution, has filed changes to its Wheeling Service Terms and Conditions with Japan’s Minister of Economy, Trade and Industry, paving the way for a revision of wheel...
Kansai Electric Sets September Grid Reconnection for Mihama Unit 3 After Steam Leak Fix
Sep 1, 2026
Kansai Electric Power said it has revised the refueling outage schedule for Mihama Nuclear Power Station Unit 3, an 826 MW pressurized water reactor, after reassessing work progress and safety measures following a steam leak incident. The unit, wh...
Kansai Electric to Raise Corporate Power Rates as Wheeling Charges and Costs Climb
Aug 19, 2026
Kansai Electric Power plans to incorporate upcoming revisions to wheeling charges into its electricity rates for extra-high-voltage, high-voltage, and low-voltage customers from November 1, 2026. The company will publish updated unit rates separat...
Kansai Electric Reports Automatic Reactor Shutdown at Ohi Unit 3
Aug 9, 2026
The Kansai Electric Power Company reported an automatic shutdown of the reactor at Ohi Nuclear Power Station Unit 3 after a “Loss of Field” alarm triggered a generator trip on the night of August 8, 2026. The company stated that the ca...
Kansai Electric Q1 Profit Slumps as Sales Rise, Dividend Payout Set to Increase
Jul 31, 2026
As of June 30, 2026, Kansai Electric reported net sales of ¥1,007.9 billion for the first quarter, up 9.8% year on year, but operating profit dropped 84.2% and ordinary profit declined 60.8%, even as profit attributable to owners of parent ro...
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.