Kajima Corporation

TSE:1812 Stock Report

Market Cap: JP¥1.3t

Kajima Valuation

Is 1812 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 1812 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1812 (¥2704.5) is trading below our estimate of fair value (¥5073.39)

Significantly Below Fair Value: 1812 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1812?

Key metric: As 1812 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 1812. This is calculated by dividing 1812's market cap by their current earnings.
What is 1812's PE Ratio?
PE Ratio12.7x
EarningsJP¥100.15b
Market CapJP¥1.27t

Price to Earnings Ratio vs Peers

How does 1812's PE Ratio compare to its peers?

The above table shows the PE ratio for 1812 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average30x
1801 Taisei
17.6x9.5%JP¥1.2t
1802 Obayashi
15.1x6.4%JP¥1.5t
1803 Shimizu
70.2x26.9%JP¥813.8b
1944 Kinden
17.1x3.3%JP¥613.5b
1812 Kajima
12.7x7.9%JP¥1.3t

Price-To-Earnings vs Peers: 1812 is good value based on its Price-To-Earnings Ratio (12.7x) compared to the peer average (30x).

Price to Earnings Ratio vs Industry

How does 1812's PE Ratio compare vs other companies in the JP Construction Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
1812 12.7xIndustry Avg. 11.3xNo. of Companies25PE0612182430+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 1812 is expensive based on its Price-To-Earnings Ratio (12.7x) compared to the JP Construction industry average (11.3x).

Price to Earnings Ratio vs Fair Ratio

What is 1812's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

1812 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.7x
Fair PE Ratio16.9x

Price-To-Earnings vs Fair Ratio: 1812 is good value based on its Price-To-Earnings Ratio (12.7x) compared to the estimated Fair Price-To-Earnings Ratio (16.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 1812 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentJP¥2,704.50
JP¥3,257.14
+20.4%
9.0%JP¥3,900.00JP¥2,900.00n/a7
Nov ’25JP¥2,621.00
JP¥3,257.14
+24.3%
9.0%JP¥3,900.00JP¥2,900.00n/a7
Oct ’25JP¥2,727.00
JP¥3,174.29
+16.4%
10.9%JP¥3,900.00JP¥2,720.00n/a7
Sep ’25JP¥2,658.50
JP¥3,160.00
+18.9%
11.1%JP¥3,900.00JP¥2,720.00n/a7
Aug ’25JP¥2,817.50
JP¥3,160.00
+12.2%
11.1%JP¥3,900.00JP¥2,720.00n/a7
Jul ’25JP¥2,790.00
JP¥3,017.14
+8.1%
6.1%JP¥3,300.00JP¥2,720.00n/a7
Jun ’25JP¥2,658.50
JP¥3,088.57
+16.2%
7.1%JP¥3,400.00JP¥2,720.00n/a7
May ’25JP¥2,993.50
JP¥3,231.43
+7.9%
9.9%JP¥3,700.00JP¥2,720.00n/a7
Apr ’25JP¥3,073.00
JP¥3,231.43
+5.2%
9.9%JP¥3,700.00JP¥2,720.00n/a7
Mar ’25JP¥2,794.00
JP¥3,052.86
+9.3%
9.2%JP¥3,500.00JP¥2,720.00n/a7
Feb ’25JP¥2,632.00
JP¥2,981.43
+13.3%
7.2%JP¥3,400.00JP¥2,720.00n/a7
Jan ’25JP¥2,356.50
JP¥2,868.57
+21.7%
3.2%JP¥3,000.00JP¥2,720.00n/a7
Dec ’24JP¥2,361.50
JP¥2,923.75
+23.8%
5.3%JP¥3,170.00JP¥2,700.00n/a8
Nov ’24JP¥2,570.00
JP¥2,938.75
+14.3%
5.6%JP¥3,170.00JP¥2,700.00JP¥2,621.008
Oct ’24JP¥2,433.50
JP¥2,938.75
+20.8%
5.6%JP¥3,170.00JP¥2,700.00JP¥2,727.008
Sep ’24JP¥2,430.00
JP¥2,665.00
+9.7%
7.9%JP¥2,920.00JP¥2,400.00JP¥2,658.508
Aug ’24JP¥2,281.50
JP¥2,550.00
+11.8%
6.3%JP¥2,900.00JP¥2,400.00JP¥2,817.508
Jul ’24JP¥2,170.00
JP¥2,220.00
+2.3%
12.3%JP¥2,500.00JP¥1,810.00JP¥2,790.007
Jun ’24JP¥2,018.00
JP¥2,048.57
+1.5%
10.8%JP¥2,500.00JP¥1,810.00JP¥2,658.507
May ’24JP¥1,802.00
JP¥1,912.86
+6.2%
5.4%JP¥2,050.00JP¥1,750.00JP¥2,993.507
Apr ’24JP¥1,598.00
JP¥1,898.33
+18.8%
5.5%JP¥2,050.00JP¥1,750.00JP¥3,073.006
Mar ’24JP¥1,635.00
JP¥1,870.00
+14.4%
5.2%JP¥2,000.00JP¥1,750.00JP¥2,794.007
Feb ’24JP¥1,555.00
JP¥1,851.43
+19.1%
4.8%JP¥2,000.00JP¥1,720.00JP¥2,632.007
Jan ’24JP¥1,536.00
JP¥1,774.29
+15.5%
12.6%JP¥2,000.00JP¥1,270.00JP¥2,356.507
Dec ’23JP¥1,519.00
JP¥1,731.43
+14.0%
11.8%JP¥1,930.00JP¥1,270.00JP¥2,361.507
Nov ’23JP¥1,404.00
JP¥1,707.14
+21.6%
12.5%JP¥1,930.00JP¥1,270.00JP¥2,570.007

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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