DB:KEI

Stock Analysis Report

Keisei Electric Railway

Executive Summary

Keisei Electric Railway Co., Ltd. provides railway transportation services in Japan.

Snowflake

Fundamentals

Proven track record with mediocre balance sheet.

Share Price & News

How has Keisei Electric Railway's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

2.2%

KEI

1.0%

DE Transportation

1.4%

DE Market


1 Year Return

34.9%

KEI

-4.0%

DE Transportation

3.8%

DE Market

Return vs Industry: KEI exceeded the German Transportation industry which returned -4% over the past year.

Return vs Market: KEI exceeded the German Market which returned 3.8% over the past year.


Shareholder returns

KEIIndustryMarket
7 Day2.2%1.0%1.4%
30 Day1.6%-2.0%1.3%
90 Day15.1%0.09%3.1%
1 Year35.5%34.9%0.5%-4.0%7.0%3.8%
3 Year72.5%70.1%36.4%21.3%18.5%8.3%
5 Year123.4%118.4%63.7%35.7%42.2%22.9%

Price Volatility Vs. Market

How volatile is Keisei Electric Railway's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Keisei Electric Railway undervalued compared to its fair value and its price relative to the market?

19.23x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: KEI (€37.4) is trading above our estimate of fair value (€16.75)

Significantly Below Fair Value: KEI is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: KEI is poor value based on its PE Ratio (19.2x) compared to the Transportation industry average (10.3x).

PE vs Market: KEI is good value based on its PE Ratio (19.2x) compared to the German market (19.2x).


Price to Earnings Growth Ratio

PEG Ratio: KEI is poor value based on its PEG Ratio (2.7x)


Price to Book Ratio

PB vs Industry: KEI is overvalued based on its PB Ratio (1.9x) compared to the XE Transportation industry average (1.4x).


Next Steps

Future Growth

How is Keisei Electric Railway forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

7.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KEI's forecast earnings growth (7.1% per year) is above the savings rate (0.2%).

Earnings vs Market: KEI's earnings (7.1% per year) are forecast to grow slower than the German market (12.6% per year).

High Growth Earnings: KEI's earnings are forecast to grow, but not significantly.

Revenue vs Market: KEI's revenue (2.5% per year) is forecast to grow slower than the German market (5% per year).

High Growth Revenue: KEI's revenue (2.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: KEI's Return on Equity is forecast to be low in 3 years time (9.7%).


Next Steps

Past Performance

How has Keisei Electric Railway performed over the past 5 years?

8.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: KEI's earnings have grown by 8.6% per year over the past 5 years.

Accelerating Growth: KEI's earnings growth over the past year (10.2%) exceeds its 5-year average (8.6% per year).

Earnings vs Industry: KEI earnings growth over the past year (10.2%) exceeded the Transportation industry 5%.


Return on Equity

High ROE: KEI's Return on Equity (10%) is considered low.


Return on Assets

ROA vs Industry: KEI has a higher Return on Assets than the Transportation industry average last year.


Return on Capital Employed

ROCE Improving: KEI's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Keisei Electric Railway's financial position?


Financial Position Analysis

Short Term Liabilities: KEI's short term assets (¥71.7B) do not cover its short term liabilities (¥149.9B)

Long Term Liabilities: KEI's short term assets (71.7B) do not cover its long term liabilities (293.3B)


Debt to Equity History and Analysis

Debt Level: KEI's debt to equity ratio (55.2%) is considered high

Reducing Debt: KEI's debt to equity ratio has reduced from 107.8% to 55.2% over the past 5 years.

Debt Coverage: KEI's debt is well covered by operating cash flow (20.1%).

Interest Coverage: KEI's interest payments on its debt are well covered by EBIT (16.3x coverage).


Balance Sheet

Inventory Level: KEI has a high level of physical assets or inventory.

Debt Coverage by Assets: KEI's debt is not covered by short term assets (assets are 0.3x debt).


Next Steps

Dividend

What is Keisei Electric Railway's current dividend yield, its reliability and sustainability?

0.38%

Current Dividend Yield


Dividend Yield vs Market

company0.4%marketbottom25%1.5%markettop25%3.8%industryaverage4.7%forecastin3Years0.5%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: KEI's dividend (0.38%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.47%).

High Dividend: KEI's dividend (0.38%) is low compared to the top 25% of dividend payers in the German market (3.83%).

Stable Dividend: KEI is not paying a notable dividend for the German market, therefore no need to check if payments are stable.

Growing Dividend: KEI is not paying a notable dividend for the German market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: KEI is not paying a notable dividend for the German market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of KEI's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

What is the CEO of Keisei Electric Railway's salary, the management and board of directors tenure and is there insider trading?

4.3yrs

Average board tenure


CEO

Toshiya Kobayashi (60yo)

0yrs

Tenure

0

Mr. Toshiya Kobayashi serves as President at Keisei Electric Railway Co., Ltd. Mr. Kobayashi served as the Senior Managing Director of Keisei Electric Railway Co., Ltd. since June 2015 and served as its Ma ...


Board Age and Tenure

4.3yrs

Average Tenure

57yo

Average Age

Experienced Board: KEI's board of directors are considered experienced (4.3 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Toshiya Kobayashi (60yo)

    President & Representative Director

    • Tenure: 0yrs
  • Masahiro Muroya (63yo)

    MD & GM of Railroad Division

    • Tenure: 0yrs
  • Atsushi Shinozaki (58yo)

    MD and Head of General Affairs & Human Resources

    • Tenure: 0yrs
  • Takashi Saito (61yo)

    Senior MD & Head of Overall Management

    • Tenure: 6.3yrs
  • Masaya Kato (59yo)

    MD and Head of Internal Audit

    • Tenure: 0yrs
  • Hiroyuki Miyajima (53yo)

    Deputy GM of Railway Division

    • Tenure: 4.3yrs
  • Hiroyuki Serizawa (54yo)

    Head of General Affairs & Human Resources Division and Director

    • Tenure: 4.3yrs
  • Makoto Kawasumi (52yo)

    Manager of Accounting Department & Director

    • Tenure: 0yrs
  • Susumu Toshima (52yo)

    Head of Development Department & Director

    • Tenure: 0yrs

Board Members

  • Kenichiro Hirata (69yo)

    Representative Director

    • Tenure: 4.3yrs
  • Norio Saigusa (70yo)

    Chairman of the Board

    • Tenure: 0yrs
  • Toshiya Kobayashi (60yo)

    President & Representative Director

    • Tenure: 0yrs
  • Eiichiro Matsukami (57yo)

    Director

    • Tenure: 8.3yrs
  • Yukihito Mashimo (57yo)

    Director

    • Tenure: 8.3yrs
  • Takashi Saito (61yo)

    Senior MD & Head of Overall Management

    • Tenure: 6.3yrs
  • Hiroyuki Miyajima (53yo)

    Deputy GM of Railway Division

    • Tenure: 4.3yrs
  • Hiroyuki Serizawa (54yo)

    Head of General Affairs & Human Resources Division and Director

    • Tenure: 4.3yrs
  • Makoto Kawasumi (52yo)

    Manager of Accounting Department & Director

    • Tenure: 0yrs
  • Susumu Toshima (52yo)

    Head of Development Department & Director

    • Tenure: 0yrs

Company Information

Keisei Electric Railway Co., Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Keisei Electric Railway Co., Ltd.
  • Ticker: KEI
  • Exchange: DB
  • Founded: 1909
  • Industry: Railroads
  • Sector: Transportation
  • Market Cap: JP¥755.788b
  • Listing Market Cap: JP¥6.252b
  • Shares outstanding: 169.27m
  • Website: https://www.keisei.co.jp

Number of Employees


Location

  • Keisei Electric Railway Co., Ltd.
  • 3-3-1 Yawata
  • Ichikawa
  • Chiba
  • 272-8510
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KEIDB (Deutsche Boerse AG)YesCommon StockDEEURJan 1992
9009TSE (The Tokyo Stock Exchange)YesCommon StockJPJPYJan 1992

Biography

Keisei Electric Railway Co., Ltd. provides railway transportation services in Japan. It operates through Railway Transportation, Bus Operations, Taxi Services, Real Estate, Construction, and Leisure segmen ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/20 20:33
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.