East Japan Railway Company

TSE:9020 Stock Report

Market Cap: JP¥3.1t

East Japan Railway Valuation

Is 9020 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • 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 9020 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 9020 (¥2780) is trading above our estimate of fair value (¥313.58)

Significantly Below Fair Value: 9020 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 9020?

Key metric: As 9020 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 9020. This is calculated by dividing 9020's market cap by their current earnings.
What is 9020's PE Ratio?
PE Ratio14.4x
EarningsJP¥219.15b
Market CapJP¥3.14t

Price to Earnings Ratio vs Peers

How does 9020's PE Ratio compare to its peers?

The above table shows the PE ratio for 9020 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.8x
9022 Central Japan Railway
7.2x1.3%JP¥3.1t
9021 West Japan Railway
13x3.6%JP¥1.3t
9042 Hankyu Hanshin Holdings
12.8x4.4%JP¥946.4b
9005 Tokyu
14.3x-1.1%JP¥1.1t
9020 East Japan Railway
14.4x6.5%JP¥3.1t

Price-To-Earnings vs Peers: 9020 is expensive based on its Price-To-Earnings Ratio (14.4x) compared to the peer average (11.8x).

Price to Earnings Ratio vs Industry

How does 9020's PE Ratio compare vs other companies in the JP Transportation Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
9020 14.4xIndustry Avg. 10.9xNo. of Companies7PE0612182430+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 9020 is expensive based on its Price-To-Earnings Ratio (14.4x) compared to the JP Transportation industry average (10.9x).

Price to Earnings Ratio vs Fair Ratio

What is 9020'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.

9020 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.4x
Fair PE Ratio20.1x

Price-To-Earnings vs Fair Ratio: 9020 is good value based on its Price-To-Earnings Ratio (14.4x) compared to the estimated Fair Price-To-Earnings Ratio (20.1x).

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 9020 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentJP¥2,780.00
JP¥3,015.00
+8.5%
7.0%JP¥3,300.00JP¥2,600.00n/a10
Nov ’25JP¥3,045.00
JP¥3,005.00
-1.3%
6.6%JP¥3,300.00JP¥2,600.00n/a10
Oct ’25JP¥2,866.00
JP¥2,983.33
+4.1%
5.8%JP¥3,183.33JP¥2,600.00n/a10
Sep ’25JP¥2,801.50
JP¥2,983.33
+6.5%
5.8%JP¥3,183.33JP¥2,600.00n/a10
Aug ’25JP¥2,735.00
JP¥2,973.33
+8.7%
5.7%JP¥3,183.33JP¥2,600.00n/a10
Jul ’25JP¥2,607.00
JP¥2,953.13
+13.3%
6.2%JP¥3,183.33JP¥2,600.00n/a10
Jun ’25JP¥2,729.50
JP¥2,968.13
+8.7%
6.4%JP¥3,200.00JP¥2,600.00n/a10
May ’25JP¥2,994.50
JP¥2,907.63
-2.9%
8.8%JP¥3,200.00JP¥2,400.00n/a10
Apr ’25JP¥2,891.50
JP¥2,916.70
+0.9%
9.2%JP¥3,200.00JP¥2,400.00n/a9
Mar ’25JP¥2,971.33
JP¥2,871.48
-3.4%
8.8%JP¥3,200.00JP¥2,400.00n/a9
Feb ’25JP¥2,932.33
JP¥2,737.67
-6.6%
7.7%JP¥3,066.67JP¥2,400.00n/a10
Jan ’25JP¥2,709.67
JP¥2,706.97
-0.1%
7.2%JP¥3,033.33JP¥2,266.67n/a11
Dec ’24JP¥2,657.33
JP¥2,706.97
+1.9%
7.2%JP¥3,033.33JP¥2,266.67n/a11
Nov ’24JP¥2,679.00
JP¥2,736.94
+2.2%
7.3%JP¥3,033.33JP¥2,366.67JP¥3,045.0012
Oct ’24JP¥2,851.67
JP¥2,709.17
-5.0%
6.7%JP¥3,000.00JP¥2,366.67JP¥2,866.0012
Sep ’24JP¥2,761.67
JP¥2,703.03
-2.1%
6.9%JP¥3,000.00JP¥2,366.67JP¥2,801.5011
Aug ’24JP¥2,713.00
JP¥2,668.61
-1.6%
6.9%JP¥3,000.00JP¥2,366.67JP¥2,735.0012
Jul ’24JP¥2,662.33
JP¥2,671.39
+0.3%
7.1%JP¥3,000.00JP¥2,366.67JP¥2,607.0012
Jun ’24JP¥2,564.33
JP¥2,635.67
+2.8%
6.9%JP¥2,900.00JP¥2,366.67JP¥2,729.5010
May ’24JP¥2,647.67
JP¥2,657.33
+0.4%
9.2%JP¥3,066.67JP¥2,333.33JP¥2,994.5010
Apr ’24JP¥2,445.00
JP¥2,684.00
+9.8%
8.9%JP¥3,066.67JP¥2,333.33JP¥2,891.5010
Mar ’24JP¥2,297.00
JP¥2,643.03
+15.1%
10.7%JP¥3,066.67JP¥2,133.33JP¥2,971.3311
Feb ’24JP¥2,340.00
JP¥2,703.64
+15.5%
11.9%JP¥3,233.33JP¥2,133.33JP¥2,932.3311
Jan ’24JP¥2,506.67
JP¥2,775.76
+10.7%
12.4%JP¥3,233.33JP¥2,033.33JP¥2,709.6711
Dec ’23JP¥2,576.00
JP¥2,741.11
+6.4%
12.7%JP¥3,233.33JP¥2,033.33JP¥2,657.3312
Nov ’23JP¥2,631.67
JP¥2,688.33
+2.2%
12.0%JP¥3,100.00JP¥2,033.33JP¥2,679.0012

Analyst Forecast: Target price is less than 20% higher than the current share price.

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