THE KANSAI ELECTRIC POWER CO., INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,302 JPY | -0.43% |
|
-0.28% | +22.94% |
| Apr. 25 | Nikkei says Soros Fund Among Investors In Japan Electricity Exchange Startup | RE |
| Apr. 22 | Japan's Nikkei rises after sharp fall, chip-related shares cap gains | RE |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,457,691 | 1,074,916 | 1,069,964 | 1,025,721 | 1,152,223 | 2,054,148 | - | - |
| Enterprise Value (EV) 1 | 4,618,004 | 4,894,311 | 4,712,306 | 5,397,364 | 5,897,264 | 6,709,256 | 6,623,919 | 6,533,172 |
| P/E ratio | 12.7 x | 8.27 x | 9.82 x | 12 x | 65.2 x | 6.76 x | 7.16 x | 7.31 x |
| Yield | 3.06% | 4.15% | 4.17% | 4.35% | 3.87% | 2.26% | 2.44% | 2.58% |
| Capitalization / Revenue | 0.44 x | 0.34 x | 0.35 x | 0.36 x | 0.29 x | 0.51 x | 0.52 x | 0.52 x |
| EV / Revenue | 1.4 x | 1.54 x | 1.52 x | 1.89 x | 1.49 x | 1.66 x | 1.68 x | 1.66 x |
| EV / EBITDA | 8.6 x | 10.2 x | 10.9 x | 12.6 x | 23.2 x | 8.03 x | 9.87 x | 9.76 x |
| EV / FCF | -52.4 x | -49.7 x | -16.4 x | -44.1 x | -17.5 x | 16.5 x | 28.3 x | 31.8 x |
| FCF Yield | -1.91% | -2.01% | -6.08% | -2.27% | -5.73% | 6.06% | 3.53% | 3.14% |
| Price to Book | 0.96 x | 0.67 x | 0.64 x | 0.62 x | 0.64 x | 0.99 x | 0.89 x | 0.81 x |
| Nbr of stocks (in thousands) | 893,193 | 893,158 | 893,125 | 892,707 | 892,504 | 892,526 | - | - |
| Reference price 2 | 1,632 | 1,204 | 1,198 | 1,149 | 1,291 | 2,302 | 2,302 | 2,302 |
| Announcement Date | 4/25/19 | 5/12/20 | 4/28/21 | 4/27/22 | 4/27/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,307,661 | 3,184,259 | 3,092,398 | 2,851,894 | 3,951,884 | 4,034,100 | 3,933,280 | 3,938,540 |
| EBITDA 1 | 536,837 | 478,928 | 430,368 | 427,805 | 254,011 | 835,250 | 671,150 | 669,050 |
| EBIT 1 | 204,853 | 206,956 | 145,746 | 99,325 | -52,056 | 544,060 | 382,575 | 374,375 |
| Operating Margin | 6.19% | 6.5% | 4.71% | 3.48% | -1.32% | 13.49% | 9.73% | 9.51% |
| Earnings before Tax (EBT) 1 | 173,272 | 188,357 | 155,296 | 125,316 | -5,828 | 485,598 | 388,000 | 380,588 |
| Net income 1 | 115,077 | 130,002 | 108,978 | 85,835 | 17,679 | 303,880 | 286,775 | 280,950 |
| Net margin | 3.48% | 4.08% | 3.52% | 3.01% | 0.45% | 7.53% | 7.29% | 7.13% |
| EPS 2 | 128.8 | 145.6 | 122.0 | 96.14 | 19.81 | 340.5 | 321.3 | 314.8 |
| Free Cash Flow 1 | -88,130 | -98,531 | -286,632 | -122,315 | -337,777 | 406,800 | 234,033 | 205,267 |
| FCF margin | -2.66% | -3.09% | -9.27% | -4.29% | -8.55% | 10.08% | 5.95% | 5.21% |
| FCF Conversion (EBITDA) | - | - | - | - | - | 48.7% | 34.87% | 30.68% |
| FCF Conversion (Net income) | - | - | - | - | - | 133.87% | 81.61% | 73.06% |
| Dividend per Share 2 | 50.00 | 50.00 | 50.00 | 50.00 | 50.00 | 52.00 | 56.25 | 59.38 |
| Announcement Date | 4/25/19 | 5/12/20 | 4/28/21 | 4/27/22 | 4/27/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: März | 2020 S1 | 2021 S1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,634,197 | 1,502,795 | 690,050 | 1,258,894 | 690,877 | 902,123 | 767,567 | 1,016,640 | 1,784,207 | 988,929 | 1,178,748 | 966,593 | 1,106,453 | 2,073,046 | 925,018 | 1,159,150 | 848,600 | 1,026,600 | 946,100 | 1,180,400 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 145,381 | 149,518 | 89,486 | 111,131 | -22,800 | 10,994 | -43,201 | -108,715 | -151,916 | -67,409 | 167,269 | 256,367 | 231,859 | 488,226 | 124,466 | -82,550 | 105,350 | 198,300 | 40,250 | 40,250 |
| Operating Margin | 8.9% | 9.95% | 12.97% | 8.83% | -3.3% | 1.22% | -5.63% | -10.69% | -8.51% | -6.82% | 14.19% | 26.52% | 20.96% | 23.55% | 13.46% | -7.12% | 12.41% | 19.32% | 4.25% | 3.41% |
| Earnings before Tax (EBT) | 156,655 | 154,805 | 103,841 | 127,012 | -23,190 | 21,494 | -16,706 | -94,894 | -111,600 | -65,557 | 171,329 | 268,302 | 243,785 | 512,087 | 6,973 | - | - | - | - | - |
| Net income 1 | 113,173 | 110,409 | 77,920 | 93,187 | -19,599 | 12,247 | -11,434 | -64,948 | -76,382 | -48,045 | 142,106 | 193,181 | 177,878 | 371,059 | -20,024 | -60,800 | 81,400 | 147,200 | 31,600 | 27,750 |
| Net margin | 6.93% | 7.35% | 11.29% | 7.4% | -2.84% | 1.36% | -1.49% | -6.39% | -4.28% | -4.86% | 12.06% | 19.99% | 16.08% | 17.9% | -2.16% | -5.25% | 9.59% | 14.34% | 3.34% | 2.35% |
| EPS 2 | 126.7 | 123.6 | 87.27 | 104.4 | -21.94 | 13.72 | -12.81 | -72.77 | -85.58 | -53.83 | 159.2 | 216.4 | 199.3 | 415.8 | -22.44 | -51.70 | 123.3 | 159.4 | 30.60 | -2.900 |
| Dividend per Share | 25.00 | 25.00 | - | 25.00 | - | - | - | - | 25.00 | - | - | - | - | 25.00 | - | - | - | - | - | - |
| Announcement Date | 10/28/19 | 10/29/20 | 10/28/21 | 10/28/21 | 1/28/22 | 4/27/22 | 7/29/22 | 10/31/22 | 10/31/22 | 1/31/23 | 4/27/23 | 7/28/23 | 10/30/23 | 10/30/23 | 1/31/24 | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 3,160,313 | 3,819,395 | 3,642,342 | 4,371,643 | 4,745,041 | 4,655,108 | 4,569,771 | 4,479,024 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 5.887 x | 7.975 x | 8.463 x | 10.22 x | 18.68 x | 5.573 x | 6.809 x | 6.695 x |
| Free Cash Flow 1 | -88,130 | -98,531 | -286,632 | -122,315 | -337,777 | 406,800 | 234,033 | 205,267 |
| ROE (net income / shareholders' equity) | 7.8% | 8.3% | 6.6% | 5.1% | 1% | 15% | 12.2% | 11.1% |
| ROA (Net income/ Total Assets) | 2.86% | 2.85% | 1.96% | 1.63% | -0.08% | 4.57% | 3.4% | 3.4% |
| Assets 1 | 4,024,290 | 4,569,185 | 5,556,388 | 5,281,926 | -23,112,825 | 6,654,302 | 8,434,559 | 8,263,235 |
| Book Value Per Share 2 | 1,695 | 1,792 | 1,886 | 1,860 | 2,004 | 2,335 | 2,589 | 2,835 |
| Cash Flow per Share | 532.0 | 483.0 | 461.0 | 464.0 | 394.0 | - | - | - |
| Capex 1 | 485,299 | 561,939 | 655,847 | 522,867 | 465,815 | 476,033 | 447,533 | 448,867 |
| Capex / Sales | 14.67% | 17.65% | 21.21% | 18.33% | 11.79% | 11.8% | 11.38% | 11.4% |
| Announcement Date | 4/25/19 | 5/12/20 | 4/28/21 | 4/27/22 | 4/27/23 | - | - | - |
1JPY in Million2JPY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
2,302
JPY
Average target price
2,502
JPY
Spread / Average Target
+8.71%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +22.94% | 13.05B | |
| +8.64% | 136B | |
| +4.41% | 80.06B | |
| -2.19% | 77.98B | |
| +0.69% | 75.38B | |
| -8.92% | 66.47B | |
| +61.15% | 59.36B | |
| +4.97% | 44.9B | |
| +7.34% | 42.26B | |
| 0.00% | 41.94B |
- Stock Market
- Equities
- 9503 Stock
- Financials The Kansai Electric Power Co., Inc.
