Japanese (NIKKEI) Gas Utilities Industry Analysis

Industry Valuation and Performance

Has the Japanese Gas Utilities Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Tue, 26 May 2026	JP¥5.5t	JP¥6.7t	JP¥473.6b	11.1x	11.6x	0.8x
Thu, 23 Apr 2026	JP¥5.7t	JP¥6.8t	JP¥482.6b	11.4x	11.8x	0.8x
Sat, 21 Mar 2026	JP¥6.2t	JP¥6.8t	JP¥482.6b	12.1x	12.9x	0.9x
Mon, 16 Feb 2026	JP¥6.5t	JP¥6.8t	JP¥482.5b	12.3x	13.5x	1x
Wed, 14 Jan 2026	JP¥5.5t	JP¥6.7t	JP¥454.6b	11.9x	12.2x	0.8x
Fri, 12 Dec 2025	JP¥5.3t	JP¥6.7t	JP¥454.7b	11.5x	11.8x	0.8x
Sun, 09 Nov 2025	JP¥5.0t	JP¥6.7t	JP¥455.3b	10.6x	11x	0.7x
Tue, 07 Oct 2025	JP¥4.6t	JP¥6.7t	JP¥393.1b	11.4x	11.7x	0.7x
Thu, 04 Sep 2025	JP¥4.8t	JP¥6.7t	JP¥392.5b	11.7x	12.3x	0.7x
Sat, 02 Aug 2025	JP¥4.6t	JP¥6.7t	JP¥391.7b	11.3x	11.6x	0.7x
Mon, 30 Jun 2025	JP¥4.2t	JP¥6.6t	JP¥287.0b	10.8x	14.5x	0.6x
Wed, 28 May 2025	JP¥4.2t	JP¥6.6t	JP¥287.5b	10.8x	14.7x	0.6x
Fri, 25 Apr 2025	JP¥4.2t	JP¥6.5t	JP¥256.6b	14.7x	16.4x	0.7x
Sun, 23 Mar 2025	JP¥4.3t	JP¥6.5t	JP¥256.6b	14.4x	16.9x	0.7x
Tue, 18 Feb 2025	JP¥4.0t	JP¥6.5t	JP¥256.6b	14.9x	15.6x	0.6x
Thu, 16 Jan 2025	JP¥3.9t	JP¥6.5t	JP¥237.4b	14.2x	16.3x	0.6x
Sat, 14 Dec 2024	JP¥4.0t	JP¥6.5t	JP¥237.4b	13.9x	17x	0.6x
Mon, 11 Nov 2024	JP¥3.8t	JP¥6.5t	JP¥237.9b	14.2x	15.9x	0.6x
Wed, 09 Oct 2024	JP¥3.7t	JP¥6.5t	JP¥280.6b	12.7x	13.2x	0.6x
Fri, 06 Sep 2024	JP¥3.9t	JP¥6.5t	JP¥281.3b	13x	13.8x	0.6x
Sun, 04 Aug 2024	JP¥3.6t	JP¥6.5t	JP¥278.0b	11.9x	13x	0.6x
Tue, 02 Jul 2024	JP¥3.9t	JP¥6.6t	JP¥372.8b	11.5x	10.4x	0.6x
Thu, 30 May 2024	JP¥3.8t	JP¥6.6t	JP¥372.4b	11.1x	10.2x	0.6x
Sat, 27 Apr 2024	JP¥3.9t	JP¥6.8t	JP¥443.5b	9.2x	8.9x	0.6x
Mon, 25 Mar 2024	JP¥3.9t	JP¥7.0t	JP¥516.6b	8.9x	7.5x	0.6x
Wed, 21 Feb 2024	JP¥3.4t	JP¥7.0t	JP¥516.4b	8.5x	6.5x	0.5x
Fri, 19 Jan 2024	JP¥3.6t	JP¥7.5t	JP¥604.5b	8x	5.9x	0.5x
Sun, 17 Dec 2023	JP¥3.5t	JP¥7.5t	JP¥604.5b	7.7x	5.8x	0.5x
Tue, 14 Nov 2023	JP¥3.4t	JP¥7.5t	JP¥604.1b	7.6x	5.6x	0.5x
Thu, 12 Oct 2023	JP¥3.4t	JP¥7.7t	JP¥533.4b	8x	6.4x	0.4x
Sat, 09 Sep 2023	JP¥3.3t	JP¥7.7t	JP¥533.4b	8x	6.2x	0.4x
Mon, 07 Aug 2023	JP¥3.1t	JP¥7.7t	JP¥533.1b	7.5x	5.9x	0.4x
Wed, 05 Jul 2023	JP¥3.1t	JP¥7.6t	JP¥434.0b	8.8x	7.1x	0.4x
Fri, 02 Jun 2023	JP¥3.0t	JP¥7.6t	JP¥433.7b	9.4x	7x	0.4x

Current Industry PE

Investors are relatively neutral on the Japanese Gas Utilities industry at the moment, indicating that they anticipate long term growth rates to remain steady.

The industry is trading close to its 3-year average PE ratio of 11.3x.

The industry is trading close to its 3-year average PS ratio of 0.62x.

Past Earnings Growth

The earnings for companies in the Gas Utilities industry have grown 3.0% per year over the last three years.
Meanwhile revenues for these companies have declined 3.8% per year.
This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

Which industries have driven the changes within the Japanese Utilities industry?


JP Market	3.42%
Utilities	-0.30%
Gas Utilities	-1.25%
Gas Utilities	-1.25%

Industry PEThere are no additional sub-industries under this industry.

Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
1663 K&O Energy Group	JP¥4.39k	1.3% +JP¥1.5b	51.4%	PE15.5x
9539 Keiyo Gas	JP¥1.40k	2.2% +JP¥964.6m	10.6%	PE10.9x
3361 ToellLtd	JP¥862.00	1.7% +JP¥262.1m	12.2%	PE11.2x
9537 Hokuriku GasLtd	JP¥4.63k	1.1% +JP¥233.2m	26.2%	PE6.8x

New minor risk - Dividend sustainability

The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 3.2% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Minor Risk Paying a dividend despite having no free cash flows.

Japanese (NIKKEI) Gas Utilities Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Tokyo Gas Invests in AI Platform Novity to Boost Equipment Reliability and Safety

Full year 2026 earnings released: EPS: JP¥682 (vs JP¥420 in FY 2025)

Toho Gas Sets FY2026 Dividend at ¥90 and Announces Four-for-One Stock Split

First quarter 2026 earnings released: EPS: JP¥90.04 (vs JP¥121 in 1Q 2025)

Nippon Gas Co., Ltd. (TSE:8174) announces an Equity Buyback for 1,500,000 shares, representing 1.41% for ¥3,000 million.

New major risk - Revenue and earnings growth

Full year 2026 earnings: EPS and revenues miss analyst expectations

New minor risk - Dividend sustainability

Full year 2026 earnings released: EPS: JP¥131 (vs JP¥118 in FY 2025)

First quarter 2026 earnings released: EPS: JP¥85.53 (vs JP¥56.85 in 1Q 2025)

New minor risk - Market cap size