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West Japan Railway Company (WJRYF)

NEUTRAL
IndustrialsRailroadsJapan

基本面

62

价格

$2986.00

市值

$1.34T

第一部分 · 这家公司值多少

概览

West Japan Railway (JR West) runs commuter and intercity passenger trains across the Kansai and Chugoku regions of western Japan, including the Sanyo Shinkansen bullet-train line linking Osaka to Fukuoka. Alongside the railway it develops and leases real estate around its stations — shopping centres, offices and hotels — and operates retail and food outlets inside stations and trains. The rail network was inherited from the state railway's 1987 breakup into regional companies.

盈利方式

Most revenue comes from fares: commuters buying monthly passes for daily travel and other passengers buying individual or Shinkansen tickets, so revenue tracks ridership and how often people travel by rail. A second, growing stream comes from the real estate, retail and hotel businesses JR West builds on land it owns around its stations, which benefit from the steady footfall its own trains bring rather than depending on rail travel directly.

护城河

规模效应 · 狭窄

JR West operates under an effective regional monopoly on its rail routes: building a competing railway line and station network across the same territory would be enormously expensive and is not something a private competitor realistically attempts. That said, the moat is geographically bounded and does not protect the company from competition in its non-rail retail and real estate businesses.

需求驱动因素

周期性

Ridership on the Shinkansen and commuter lines rises and falls with business travel, tourism and the broader economy, and inbound tourism to Japan in particular can swing sharply with currency levels and global travel trends. JR West's own results have been lifted recently by a tourism and events tailwind, illustrating how much revenue depends on discretionary travel rather than a fixed, steady commuter base alone.

看多理由

Buyers argue that JR West holds an effectively unreplicable rail network across a major part of Japan, that inbound tourism and events such as the Osaka-Kansai Expo have driven record results, and that its real estate and retail businesses give it a second, less rail-dependent growth engine.

看空理由

Sellers worry that Japan's long-term population decline shrinks the domestic commuter base the railway was built to serve, that results tied to a one-off event like the Expo can fade once it ends, and that heavy, ongoing spending on maintaining aging rail infrastructure limits how much cash is left over for shareholders.

Written by the editors, published on 2026年8月18日

Direct competitors

Who this company fights with for the same customers

No editorial profile for this company yet

No competitor list for this company yet.

资产负债表与流动性

营收

$1.85T

截至最近已公布季度的最近12个月 — 根据每股指标估算

净利润

$125.92B

截至最近已公布季度的最近12个月 — 根据每股指标估算

自由现金流

-

股东权益合计

$1.22T

负债合计

$1.56T

流动比率

1.12

利息覆盖率

-

债务/EBITDA

4.21

每股收益

营收与净利润

自由现金流

收入构成

历史财务表

利润率变化

债务变化

债务负担有多重

增长一览表

增长 — 营业收入

公允价值估算

被低估

公允价值

$4176.05

当前价格

$2986.00

安全边际

+28.5%

公允价值区间

$2769.04 - $5583.06

估算方法

Analyst Target:$3069.09
DCF:$7108.26
PE-based:$3256.31
Graham Growth:$4519.33
EPV:$3940.63
分析师共识:买入 (7B / 9H / 0S)
最近财报超预期:+13.11%

估值指标

市盈率(P/E)

10.67

ROE

9.3%

市净率(P/B)

1.11

P/FCF

-

毛利率

25.1%

ROIC

6.9%

盈利能力雷达图

Value Creation (Economic Moat)

ROIC

6.9%

WACC

3.6%

ROIC − WACC

+3.3 pp

ROIC exceeds the cost of capital — the company is creating value for shareholders.

基本面分析标准

通过(11)

  • ROIC 6.9%
  • P/B Ratio 1.11
  • Debt/Equity ratio
  • Operating Margin 9.8%
  • Current Ratio
  • Debt/EBITDA
  • Price below Graham Number
  • ROE 10.8%
  • Revenue Growth 5Y 14.9%
  • Earnings Surprise avg 41.3%
  • Net Margin Trend 6.9% vs 6.7%

未通过(5)

  • Price CAGR -2.18%
  • Gross Margin 25.1%
  • DCF valuation (Unknown)
  • Analyst Consensus 44% Buy
  • Piotroski F-Score 0/9

不可用(11)

  • EPS data insufficient
  • P/FCF NaN
  • Dividend Payout NaN%
  • Positive Free Cash Flow
  • CapEx intensity
  • Interest Coverage
  • Return on Tangible Assets
  • Low reliance on intangibles
  • PEG Ratio (need PE > 0 and growth > 0)
  • Earnings Quality (OCF/Net Income)
  • Share Dilution (missing shares data)

Piotroski F-评分

0/9

存在严重财务隐患

score
criteria

盈利质量

-

低质量:需深入审查会计处理

股权稀释

-

正在回购股份,对股东友好

公司治理

管理团队

姓名职位年龄
Mr. Kazuaki HasegawaChairman of the Board of Directors68
Mr. Shoji KurasakaPresident & Representative Director63
Mr. Jun FukushimaGeneral Manager of Corporate Communications Department-
Mr. Eiji TsuboneSenior Managing Exe. Off., Head of Hotel Co., GM of Corporate Strategy Headquarters & Director59

审计风险

1

董事会风险

3

薪酬风险

10

股东权利风险

2

第二部分 · 价格与买入时机

这一部分不判断公司是否值得拥有:它帮助你在基本面说服你之后,选择何时买入。包含:技术分析、潜力、历史回撤、Gamma 敞口。

Latest News

Recent headlines for WJRYF, sourced from Markets Gazette.

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