SAIBU GAS HOLDINGS CO. LTD. (9536) AI Stock Analysis

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SAIBU GAS HOLDINGS CO. LTD.

(TSE/TYO:9536)

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Rating:70Outperform

Price Target:JPY 3,073.00▲(4.77% Upside)

Action:reiterated

Date:10/31/26

SAIBU GAS HOLDINGS earns a solid score of 70, primarily driven by its highly attractive valuation and strong bullish price trends. As a regulated utility, it demonstrates stabilizing profitability and a successfully de-leveraging balance sheet. The stock's upside score is mainly constrained by its capital-intensive nature, which results in persistently negative free cash flows, and near-term overbought technical indicators.

Positive Factors

Regional city-gas platformThe company operates an established regional city-gas platform serving households, commercial facilities, and industrial users. This recurring utility-oriented customer base and existing distribution footprint can support durable demand and provide a foundation for related energy services over the next several quarters.

Negative Factors

High leverageDebt remains high and has stayed broadly flat while debt relative to equity was elevated in recent years. This leverage limits financial flexibility, increases sensitivity to funding costs, and could constrain investment or shareholder returns if operating cash generation weakens.

SAIBU GAS HOLDINGS CO. LTD. (9536) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 104.22B
Dividend Yield: 2.39%
Average Volume (3M): 164.41K
Price to Earnings (P/E): 10.0
Beta (1Y): 0.38
Revenue Growth: -5.67%
EPS Growth: 20.75%
Country: Japan
Employees: 3,725
Sector: Utilities
Sector Strength: 66
Industry: Regulated Gas

SAIBU GAS HOLDINGS CO. LTD. Business Overview & Revenue Model

Company Description

Saibu Gas Holdings Co.,Ltd. produces, supplies, and sells natural gas in Japan. The company produces, sells, and installs gas equipment and apparatus, gas heating and cooling, clothes dryer, cogeneration, boiler, hot water supply, industrial furnaces...

How the Company Makes Money

SAIBU GAS HOLDINGS generates earnings primarily through consolidated subsidiary operations. The core revenue model is the sale of city gas to end customers (e.g., households, commercial facilities, and industrial users), where revenue is typically dr...

SAIBU GAS HOLDINGS CO. LTD. Financial Statement Overview

Summary

Solid profitability and an improving equity base are driving steady de-leveraging. However, performance is offset by volatile, frequently negative free cash flow due to heavy capital expenditures typical of the utility sector.

Income Statement

68Positive

Balance Sheet

65Positive

Cash Flow

45Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	255.36B	261.82B	254.44B	256.33B	266.32B	215.27B
Gross Profit	82.13B	81.27B	66.48B	66.58B	67.05B	57.50B
EBITDA	29.60B	31.25B	31.47B	32.45B	40.63B	24.27B
Net Income	10.53B	7.15B	6.36B	6.16B	13.22B	495.00M
Balance Sheet
Total Assets	471.28B	465.85B	447.77B	431.79B	414.27B	395.66B
Cash, Cash Equivalents and Short-Term Investments	16.85B	23.48B	29.48B	27.40B	36.78B	25.54B
Total Debt	280.24B	284.81B	280.33B	283.06B	282.36B	275.20B
Total Liabilities	336.13B	342.51B	336.06B	326.21B	320.64B	315.02B
Stockholders Equity	127.14B	115.25B	103.83B	98.35B	86.79B	74.33B
Cash Flow
Free Cash Flow	0	-4.42B	14.72B	-1.88B	2.45B	-4.66B
Operating Cash Flow	0	25.33B	38.56B	22.12B	21.75B	10.54B
Investing Cash Flow	0	-33.81B	-29.95B	-28.15B	-15.97B	-14.13B
Financing Cash Flow	0	2.90B	-6.70B	-4.02B	2.96B	7.63B

SAIBU GAS HOLDINGS CO. LTD. Technical Analysis

Technical Analysis SentimentPositive

Last Price2933.00

Price Trends

50DMA2557.61Positive

100DMA2435.75Positive

200DMA2396.78Positive

Market Momentum

MACD114.55Negative

RSI71.61Negative

STOCH88.95Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9536, the sentiment is Positive. The current price of 2933.00 is above the 20-day moving average (MA) of 2650.15, above the 50-day MA of 2557.61, and above the 200-day MA of 2396.78, indicating a bullish trend. The MACD of 114.55 indicates Negative momentum. The RSI at 71.61 is Negative, neither overbought nor oversold. The STOCH value of 88.95 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9536.

SAIBU GAS HOLDINGS CO. LTD. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (66)

Financial Indicators

JP:9536 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:9543	78Outperform	JPY 102.78B	13.61	7.33%	3.17%	2.03%	-22.02%
JP:9534	74Outperform	JPY 80.15B	8.67	―	2.92%	0.69%	-22.09%
JP:9536	70Outperform	JPY 104.22B	10.03	8.87%	2.39%	-5.67%	20.75%
JP:9531	69Neutral	JPY 2.22T	11.52	11.52%	1.77%	3.63%	14.06%
JP:9533	68Neutral	JPY 460.03B	25.61	3.73%	1.78%	-2.49%	-31.28%
Sector *	66Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
JP:9539	54Neutral	JPY 40.35B	10.33	―	2.12%	1.76%	18.95%

* Utilities Sector Average

Performance Comparison

JP:9536 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:9536	SAIBU GAS HOLDINGS CO. LTD.	2933.00	1083.68	58.60%
JP:9533	TOHO GAS Co	1267.50	71.61	5.99%
JP:9531	TOKYO GAS Co	6782.00	742.09	12.29%
JP:9543	SHIZUOKA GAS CO. LTD.	1404.00	280.25	24.94%
JP:9534	Hokkaido Gas Co., Ltd.	907.00	203.20	28.87%
JP:9539	Keiyo Gas Co., Ltd.	1229.00	113.59	10.18%

SAIBU GAS HOLDINGS CO. LTD. Corporate Events

Saibu Gas Delivers Profit Surge Despite Lower Sales, Lifts Full-Year Outlook

Oct 29, 2026

Saibu Gas Holdings reported consolidated net sales of ¥122.1 billion for the six months ended September 30, 2026, down 5% year on year, but achieved strong profit growth, with operating profit up 1.7% to ¥5.2 billion and profit attributable to owners...

Saibu Gas Holdings to Cancel 2.83% of Shares to Tighten Capital Base

Aug 28, 2026

Saibu Gas Holdings has resolved to cancel a portion of its treasury shares, reinforcing capital discipline and potentially enhancing shareholder value. The board approved the retirement of common shares currently held as treasury stock under the fram...

Saibu Gas Holdings Boosts Earnings Despite Revenue Decline and Confirms Stable Dividend

Jul 31, 2026

Saibu Gas Holdings reported consolidated net sales of ¥60.6 billion for the three months ended June 30, 2026, down 10.2% year on year, with operating profit falling 26.0% to ¥4.1 billion even as ordinary profit rose 18.3% and profit attributable to o...

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.

Date of analysis: Oct 31, 2026

SAIBU GAS HOLDINGS CO. LTD. AI Stock Analysis