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West Japan Railway Company 9021.T

JP · Tokyo Stock Exchange · XTKS · stock · Industrials · website

West Japan Railway Company statistics & valuation

Market cap¥1.33T
P / E10.4×
P / S0.7×
P / B1.1×
Net margin6.9%
Net debt¥1.36T
Enterprise value USD$16.9B
Earnings yield EBIT/EV7.4%
Return on capital6.2%
Graham number +39.5%¥4,072.28

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (¥4,072.28); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
6.30% 6.00% 6.70% 6.90% 2023202420252026
Gross margin (%)
19.30% 24.20% 24.50% 25.00% 2023202420252026
Operating margin (%)
6.00% 11.00% 10.50% 10.70% 2023202420252026
Return on equity (%)
8.60% 8.90% 9.90% 10.60% 2023202420252026
Shares outstanding
455.1M 455.1M 455.1M 455.1M 2023202420252026
Net debt (¥)
¥1.28T ¥1.24T ¥1.32T ¥1.36T 2023202420252026
Share buybacks (¥)
¥963.0M ¥1.0M ¥50.00B ¥50.00B 2023202420252026
Return on assets (%)
2.40% 2.60% 3.00% 3.20% 2023202420252026
Free cash flow margin (%)
2023202420252026
Debt / equity (×)
1.52× 1.33× 1.25× 1.28× 2023202420252026
EPS (¥)
¥181.64 ¥405.25 ¥240.08 ¥277.73 2023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

West Japan Railway Company trades at about 10.5× earnings — below its 10-year norm (10-year range 7.4×–16.2×, median 12.5×).

7.4× 16.2×

Shaded band = 10-year range (7.4×–16.2×); dot = today's 10.5×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023
Gross margin25.0%24.5%24.2%19.3%
Operating margin10.7%10.5%11.0%6.0%
Net margin6.9%6.7%6.0%6.3%
Return on assets3.2%3.0%2.6%2.4%
Return on equity10.6%9.9%8.9%8.6%
Debt / equity1.16×1.11×1.19×1.37×
Current ratio1.030.880.991.09

Computed from company filings · JP · as of 2026-03-31. Figures in JPY. Facts plus Stocktoria's own computed scores — not investment advice.