Reported Earnings • Jul 31
First quarter 2027 earnings released: EPS: JP¥71.96 (vs JP¥150 in 1Q 2026) First quarter 2027 results: EPS: JP¥71.96 (down from JP¥150 in 1Q 2026). Revenue: JP¥214.5b (up 5.9% from 1Q 2026). Net income: JP¥14.8b (down 52% from 1Q 2026). Profit margin: 6.9% (down from 15% in 1Q 2026). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 25
Final dividend of JP¥16.50 announced Shareholders will receive a dividend of JP¥16.50. Ex-date: 29th September 2026 Payment date: 30th November 2026 Dividend yield will be 3.3%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (15% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Jul 03
Price target decreased by 9.1% to JP¥1,407 Down from JP¥1,547, the current price target is an average from 3 analysts. New target price is 44% above last closing price of JP¥974. Stock is up 20% over the past year. The company is forecast to post earnings per share of JP¥128 for next year compared to JP¥214 last year. Announcement • Jun 25
Hokkaido Electric Power Company, Incorporated to Report Q1, 2027 Results on Jul 30, 2026 Hokkaido Electric Power Company, Incorporated announced that they will report Q1, 2027 results on Jul 30, 2026 Announcement • Apr 29
Hokkaido Electric Power Company, Incorporated, Annual General Meeting, Jun 25, 2026 Hokkaido Electric Power Company, Incorporated, Annual General Meeting, Jun 25, 2026. Buy Or Sell Opportunity • Apr 01
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 7.2% to JP¥1,127. The fair value is estimated to be JP¥927, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 1.0% per annum. Earnings are also forecast to grow by 0.4% per annum over the same time period. Announcement • Mar 27
Hokkaido Electric Power Company, Incorporated to Report Fiscal Year 2026 Results on Apr 28, 2026 Hokkaido Electric Power Company, Incorporated announced that they will report fiscal year 2026 results on Apr 28, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 9.0% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.1%). Price Target Changed • Mar 13
Price target increased by 18% to JP¥1,580 Up from JP¥1,340, the current price target is an average from 3 analysts. New target price is 49% above last closing price of JP¥1,063. Stock is up 33% over the past year. The company is forecast to post earnings per share of JP¥181 for next year compared to JP¥306 last year. Buy Or Sell Opportunity • Mar 11
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 4.2% to JP¥1,069. The fair value is estimated to be JP¥870, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 0.5% per annum. Earnings are also forecast to grow by 0.4% per annum over the same time period. Buy Or Sell Opportunity • Feb 06
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 8.9% to JP¥1,113. The fair value is estimated to be JP¥898, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 0.5% per annum. Earnings are also forecast to grow by 2.4% per annum over the same time period. Reported Earnings • Jan 31
Third quarter 2026 earnings: EPS and revenues miss analyst expectations Third quarter 2026 results: EPS: JP¥22.87 (up from JP¥22.83 in 3Q 2025). Revenue: JP¥205.8b (down 10% from 3Q 2025). Net income: JP¥4.70b (flat on 3Q 2025). Profit margin: 2.3% (up from 2.0% in 3Q 2025). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) also missed analyst estimates by 39%. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Electric Utilities industry in Japan. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Announcement • Jan 30
Hokkaido Electric Power Company, Incorporated Revises Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2026 Hokkaido Electric Power Company, Incorporated revised consolidated earnings guidance for the fiscal year ending March 31, 2026. For the year, the company now expects operating revenue of JPY 867,000 million, operating income of JPY 59,000 million, profit attributable to owners of parent of JPY 28,000 million and basic earnings per share of JPY 129.49. Buy Or Sell Opportunity • Jan 05
Now 25% overvalued Over the last 90 days, the stock has fallen 5.8% to JP¥1,097. The fair value is estimated to be JP¥879, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.2% per annum. Earnings are forecast to grow by 1.4% per annum over the same time period. Announcement • Dec 26
Hokkaido Electric Power Company, Incorporated to Report Q3, 2026 Results on Jan 30, 2026 Hokkaido Electric Power Company, Incorporated announced that they will report Q3, 2026 results on Jan 30, 2026 Buy Or Sell Opportunity • Dec 10
Now 21% overvalued Over the last 90 days, the stock has fallen 13% to JP¥1,064. The fair value is estimated to be JP¥879, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.2% per annum. Earnings are forecast to grow by 1.5% per annum over the same time period. Declared Dividend • Nov 29
First half dividend of JP¥15.00 announced Shareholders will receive a dividend of JP¥15.00. Ex-date: 30th March 2026 Payment date: 29th June 2026 Dividend yield will be 2.5%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (4% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 2.0% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Nov 13
Now 24% overvalued Over the last 90 days, the stock has fallen 9.0% to JP¥1,087. The fair value is estimated to be JP¥879, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.09% per annum. Earnings are forecast to grow by 1.3% per annum over the same time period. Reported Earnings • Nov 01
Second quarter 2026 earnings: EPS and revenues exceed analyst expectations Second quarter 2026 results: EPS: JP¥68.45 (down from JP¥91.23 in 2Q 2025). Revenue: JP¥209.5b (down 2.2% from 2Q 2025). Net income: JP¥14.1b (down 25% from 2Q 2025). Profit margin: 6.7% (down from 8.7% in 2Q 2025). Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Electric Utilities industry in Japan. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Sep 26
Consensus EPS estimates increase by 10% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from JP¥156 to JP¥173. Revenue forecast steady at JP¥867.3b. Net income forecast to shrink 45% next year vs 21% decline forecast for Electric Utilities industry in Japan. Consensus price target up from JP¥1,150 to JP¥1,263. Share price was steady at JP¥1,135 over the past week. Announcement • Sep 26
Hokkaido Electric Power Company, Incorporated to Report Q2, 2026 Results on Oct 31, 2025 Hokkaido Electric Power Company, Incorporated announced that they will report Q2, 2026 results on Oct 31, 2025 Price Target Changed • Sep 01
Price target increased by 15% to JP¥1,043 Up from JP¥908, the current price target is an average from 3 analysts. New target price is 9.4% below last closing price of JP¥1,151. Stock is up 9.0% over the past year. The company is forecast to post earnings per share of JP¥156 for next year compared to JP¥306 last year. Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,118, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 6x in the Electric Utilities industry in Japan. Total returns to shareholders of 125% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥791 per share. Buy Or Sell Opportunity • Aug 04
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 26% to JP¥958. The fair value is estimated to be JP¥788, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years. Earnings per share has grown by 81%. For the next 3 years, revenue is forecast to grow by 0.02% per annum. Earnings are forecast to decline by 9.9% per annum over the same time period. Reported Earnings • Aug 02
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: JP¥150 (down from JP¥152 in 1Q 2025). Revenue: JP¥202.5b (flat on 1Q 2025). Net income: JP¥30.8b (down 1.5% from 1Q 2025). Profit margin: 15% (in line with 1Q 2025). Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 42%. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Electric Utilities industry in Japan. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥15.00 announced Shareholders will receive a dividend of JP¥15.00. Ex-date: 29th September 2025 Payment date: 1st December 2025 Dividend yield will be 3.1%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (8% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 22% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to decline by 32% over the next 3 years. However, it would need to fall by 91% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Jun 29
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥313 (down from JP¥315 in FY 2024). Revenue: JP¥902.1b (down 5.4% from FY 2024). Net income: JP¥64.2b (flat on FY 2024). Profit margin: 7.1% (up from 6.8% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 14%. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Electric Utilities industry in Japan. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Jun 26
Hokkaido Electric Power Company, Incorporated to Report Q1, 2026 Results on Jul 31, 2025 Hokkaido Electric Power Company, Incorporated announced that they will report Q1, 2026 results on Jul 31, 2025 Reported Earnings • May 01
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥313 (down from JP¥315 in FY 2024). Revenue: JP¥902.1b (down 5.4% from FY 2024). Net income: JP¥64.2b (flat on FY 2024). Profit margin: 7.1% (up from 6.8% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 14%. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Electric Utilities industry in Japan. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • Apr 30
Hokkaido Electric Power Company, Incorporated, Annual General Meeting, Jun 26, 2025 Hokkaido Electric Power Company, Incorporated, Annual General Meeting, Jun 26, 2025. Announcement • Mar 26
Hokkaido Electric Power Company, Incorporated to Report Fiscal Year 2025 Results on Apr 30, 2025 Hokkaido Electric Power Company, Incorporated announced that they will report fiscal year 2025 results on Apr 30, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 7.7% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (3.1%). New Risk • Mar 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.4% average weekly change). Large one-off items impacting financial results. Reported Earnings • Feb 01
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: JP¥22.83 (up from JP¥11.04 in 3Q 2024). Revenue: JP¥229.7b (up 1.2% from 3Q 2024). Net income: JP¥4.69b (up 107% from 3Q 2024). Profit margin: 2.0% (up from 1.0% in 3Q 2024). Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) missed analyst estimates by 35%. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Electric Utilities industry in Japan. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Dec 26
Hokkaido Electric Power Company, Incorporated to Report Q3, 2025 Results on Jan 31, 2025 Hokkaido Electric Power Company, Incorporated announced that they will report Q3, 2025 results on Jan 31, 2025 New Risk • Nov 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Earnings are forecast to decline by an average of 10% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.5% average weekly change). Large one-off items impacting financial results. Reported Earnings • Nov 02
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: JP¥94.66 (up from JP¥78.23 in 2Q 2024). Revenue: JP¥214.1b (down 7.2% from 2Q 2024). Net income: JP¥19.4b (up 21% from 2Q 2024). Profit margin: 9.1% (up from 7.0% in 2Q 2024). Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 48%. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Electric Utilities industry in Japan. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Sep 26
Hokkaido Electric Power Company, Incorporated to Report Q2, 2025 Results on Oct 31, 2024 Hokkaido Electric Power Company, Incorporated announced that they will report Q2, 2025 results on Oct 31, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 6.6% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.6%). Reported Earnings • Aug 02
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: JP¥152 (down from JP¥167 in 1Q 2024). Revenue: JP¥202.6b (down 11% from 1Q 2024). Net income: JP¥31.2b (down 8.8% from 1Q 2024). Profit margin: 15% (in line with 1Q 2024). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 120%. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Electric Utilities industry in Japan. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Jun 27
Hokkaido Electric Power Company, Incorporated to Report Q1, 2025 Results on Jul 31, 2024 Hokkaido Electric Power Company, Incorporated announced that they will report Q1, 2025 results on Jul 31, 2024 Major Estimate Revision • May 29
Consensus EPS estimates increase by 15%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from JP¥943.7b to JP¥906.4b. EPS estimate rose from JP¥149 to JP¥172. Net income forecast to shrink 40% next year vs 44% decline forecast for Electric Utilities industry in Japan. Consensus price target up from JP¥740 to JP¥940. Share price rose 15% to JP¥1,675 over the past week. Price Target Changed • May 29
Price target increased by 31% to JP¥940 Up from JP¥715, the current price target is an average from 4 analysts. New target price is 44% below last closing price of JP¥1,675. Stock is up 193% over the past year. The company is forecast to post earnings per share of JP¥172 for next year compared to JP¥315 last year. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥1,465, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 8x in the Electric Utilities industry in Japan. Total returns to shareholders of 203% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,212 per share. Buy Or Sell Opportunity • May 20
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 131% to JP¥1,465. The fair value is estimated to be JP¥1,212, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 1.7% per annum. Earnings are also forecast to decline by 24% per annum over the same time period. Reported Earnings • May 01
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥322 (up from JP¥115 loss in FY 2023). Revenue: JP¥953.8b (up 7.3% from FY 2023). Net income: JP¥66.2b (up JP¥89.8b from FY 2023). Profit margin: 6.9% (up from net loss in FY 2023). The move to profitability was primarily driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Revenue is expected to fall by 1.7% p.a. on average during the next 3 years compared to a 1.6% decline forecast for the Electric Utilities industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Apr 30
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 70% to JP¥1,122. The fair value is estimated to be JP¥914, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 1.4% per annum. Earnings are also forecast to decline by 20% per annum over the same time period. Announcement • Apr 29
Hokkaido Electric Power Company, Incorporated, Annual General Meeting, Jun 26, 2024 Hokkaido Electric Power Company, Incorporated, Annual General Meeting, Jun 26, 2024. Major Estimate Revision • Apr 28
Consensus EPS estimates increase by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥892.3b to JP¥923.8b. EPS estimate increased from JP¥131 to JP¥149 per share. Net income forecast to shrink 27% next year vs 45% decline forecast for Electric Utilities industry in Japan. Consensus price target up from JP¥715 to JP¥740. Share price fell 8.1% to JP¥1,091 over the past week. New Risk • Apr 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.1% operating cash flow to total debt). Earnings are forecast to decline by an average of 19% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (5.9% average weekly change). Buy Or Sell Opportunity • Apr 15
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 81% to JP¥1,213. The fair value is estimated to be JP¥986, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 1.4% per annum. Earnings are also forecast to decline by 19% per annum over the same time period. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥961, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 7x in the Electric Utilities industry in Japan. Total returns to shareholders of 120% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥972 per share. Announcement • Mar 26
Hokkaido Electric Power Company, Incorporated to Report Fiscal Year 2024 Results on Apr 26, 2024 Hokkaido Electric Power Company, Incorporated announced that they will report fiscal year 2024 results on Apr 26, 2024 Major Estimate Revision • Mar 02
Consensus EPS estimates increase by 27% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥161 to JP¥204. Revenue forecast unchanged at JP¥939.8b. Net income forecast to shrink 41% next year vs 39% decline forecast for Electric Utilities industry in Japan. Consensus price target of JP¥670 unchanged from last update. Share price rose 5.6% to JP¥691 over the past week. Reported Earnings • Feb 02
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: JP¥16.35 (up from JP¥96.20 loss in 3Q 2023). Revenue: JP¥227.0b (down 4.2% from 3Q 2023). Net income: JP¥3.36b (up JP¥23.1b from 3Q 2023). Profit margin: 1.5% (up from net loss in 3Q 2023). The move to profitability was driven by lower expenses. Revenue exceeded analyst estimates by 6.4%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is expected to fall by 1.4% p.a. on average during the next 3 years compared to a 2.9% decline forecast for the Electric Utilities industry in Japan. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Dec 25
Hokkaido Electric Power Company, Incorporated to Report Q3, 2024 Results on Jan 31, 2024 Hokkaido Electric Power Company, Incorporated announced that they will report Q3, 2024 results on Jan 31, 2024 Buying Opportunity • Dec 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be JP¥771, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 1.5% per annum. Earnings is also forecast to decline by 2.2% per annum over the same time period. Reported Earnings • Oct 29
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: JP¥81.80 (up from JP¥62.13 loss in 2Q 2023). Revenue: JP¥230.8b (up 9.5% from 2Q 2023). Net income: JP¥16.8b (up JP¥29.5b from 2Q 2023). Profit margin: 7.3% (up from net loss in 2Q 2023). The move to profitability was primarily driven by higher revenue. Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) also surpassed analyst estimates by 100%. Revenue is expected to fall by 1.1% p.a. on average during the next 3 years compared to a 1.9% decline forecast for the Electric Utilities industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Announcement • Sep 27
Hokkaido Electric Power Company, Incorporated to Report Q2, 2024 Results on Oct 26, 2023 Hokkaido Electric Power Company, Incorporated announced that they will report Q2, 2024 results on Oct 26, 2023 Price Target Changed • Sep 23
Price target increased by 9.6% to JP¥658 Up from JP¥600, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥690. Stock is up 36% over the past year. The company is forecast to post earnings per share of JP¥139 next year compared to a net loss per share of JP¥115 last year. Major Estimate Revision • Aug 15
Consensus EPS estimates increase by 37% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥96.20 to JP¥131. Revenue forecast steady at JP¥902.2b. Net income forecast to grow 4,501% next year vs 86% growth forecast for Electric Utilities industry in Japan. Consensus price target broadly unchanged at JP¥600. Share price rose 2.0% to JP¥629 over the past week. New Risk • Aug 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risks Share price has been volatile over the past 3 months (5.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.06% net profit margin). Reported Earnings • Jul 29
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: JP¥169 (up from JP¥50.84 in 1Q 2023). Revenue: JP¥227.8b (up 29% from 1Q 2023). Net income: JP¥34.6b (up 232% from 1Q 2023). Profit margin: 15% (up from 5.9% in 1Q 2023). Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 126%. Revenue is forecast to stay flat during the next 3 years compared to a 1.2% decline forecast for the Electric Utilities industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. Announcement • Jun 26
Hokkaido Electric Power Company, Incorporated to Report Q1, 2024 Results on Jul 28, 2023 Hokkaido Electric Power Company, Incorporated announced that they will report Q1, 2024 results on Jul 28, 2023 Price Target Changed • Jun 16
Price target increased by 12% to JP¥590 Up from JP¥525, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥608. Stock is up 30% over the past year. The company is forecast to post earnings per share of JP¥116 next year compared to a net loss per share of JP¥108 last year. Reported Earnings • Apr 29
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: JP¥108 loss per share (down from JP¥26.56 profit in FY 2022). Revenue: JP¥888.9b (up 34% from FY 2022). Net loss: JP¥22.2b (down JP¥27.6b from profit in FY 2022). Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) exceeded analyst estimates by 42%. Revenue is forecast to decline by 1.3% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Japan are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Buying Opportunity • Feb 01
Now 21% undervalued Over the last 90 days, the stock is up 6.1%. The fair value is estimated to be JP¥595, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Jan 27
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: JP¥91.02 loss per share (further deteriorated from JP¥44.23 loss in 3Q 2022). Revenue: JP¥237.0b (up 41% from 3Q 2022). Net loss: JP¥18.7b (loss widened 106% from 3Q 2022). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) exceeded analyst estimates by 52%. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Electric Utilities industry in Japan. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Dec 26
Hokkaido Electric Power Company, Incorporated to Report Q3, 2023 Results on Jan 26, 2023 Hokkaido Electric Power Company, Incorporated announced that they will report Q3, 2023 results on Jan 26, 2023 Major Estimate Revision • Dec 10
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast increased from JP¥870.0b to JP¥908.9b. Forecast EPS reduced from -JP¥189 to -JP¥251 per share. Electric Utilities industry in Japan expected to see average net income growth of 12% next year. Consensus price target down from JP¥555 to JP¥528. Share price was steady at JP¥444 over the past week. Reported Earnings • Nov 16
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: JP¥58.69 loss per share (down from JP¥36.39 profit in 2Q 2022). Revenue: JP¥210.8b (up 45% from 2Q 2022). Net loss: JP¥12.1b (down 261% from profit in 2Q 2022). Revenue exceeded analyst estimates by 6.4%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to decline by 1.0% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Oct 27
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: JP¥58.69 loss per share (down from JP¥36.39 profit in 2Q 2022). Revenue: JP¥210.8b (up 45% from 2Q 2022). Net loss: JP¥12.1b (down 261% from profit in 2Q 2022). Revenue exceeded analyst estimates by 6.4%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to decline by 1.0% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Sep 30
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast increased from JP¥809.2b to JP¥836.2b. Forecast EPS reduced from -JP¥103 to -JP¥149 per share. Electric Utilities industry in Japan expected to see average net income growth of 12% next year. Consensus price target of JP¥555 unchanged from last update. Share price fell 11% to JP¥453 over the past week. Major Estimate Revision • Sep 24
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast increased from JP¥788.9b to JP¥844.3b. Forecast EPS reduced from -JP¥48.07 to -JP¥149 per share. Electric Utilities industry in Japan expected to see average net income growth of 14% next year. Consensus price target up from JP¥553 to JP¥573. Share price was steady at JP¥508 over the past week. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 30 November 2022. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (4.0%). 
