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Heiwa Real Estate REIT, Inc. logo

Heiwa Real Estate REIT, Inc.

8966.T

JPXReal EstateREIT - Diversified

Open in GoAI

Latest quote

¥133,400

+¥1,400 · +1.06%

Aug 24, 3:30 PM JST

8966.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Industry
REIT - Diversified
Sector
Real Estate
Headquarters
JP

Market position

Day range

Current ¥133,400

52-week range

Current ¥133,400

Open
¥132,600
Previous close
¥132,000
Volume
2.7K
Market cap
179.23B JPY
50-day average
¥133,750
-0.26% below average
200-day average
¥146,619.5
-9.02% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
308.73B JPY
EV / EBITDA
22.75×
Earnings yield
5.19%
Free cash flow yield
-4.91%

Profitability & efficiency

Return on equity
7.58%
Return on assets
3.70%
Return on invested capital
4.29%

Financial health

Current ratio
1.02×
Altman Z-score
1.21
Piotroski F-score
6 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends68%59%50%41%Gross margin, FY2022: 60.94%Gross margin, FY2023: 61.95%Gross margin, FY2024: 62.26%Gross margin, FY2025: 62.70%Gross margin, FY2026: 65.53%Operating margin, FY2022: 49.03%Operating margin, FY2023: 50.32%Operating margin, FY2024: 50.94%Operating margin, FY2025: 51.62%Operating margin, FY2026: 55.33%Net margin, FY2022: 43.27%Net margin, FY2023: 44.59%Net margin, FY2024: 45.21%Net margin, FY2025: 45.20%Net margin, FY2026: 48.36%FY2022FY2023FY2024FY2025FY2026
Gross margin FY2022 60.94%. Gross margin FY2023 61.95%. Gross margin FY2024 62.26%. Gross margin FY2025 62.70%. Gross margin FY2026 65.53%. Operating margin FY2022 49.03%. Operating margin FY2023 50.32%. Operating margin FY2024 50.94%. Operating margin FY2025 51.62%. Operating margin FY2026 55.33%. Net margin FY2022 43.27%. Net margin FY2023 44.59%. Net margin FY2024 45.21%. Net margin FY2025 45.20%. Net margin FY2026 48.36%.

Income trends

Revenue

20.86B JPY+17.31%

Operating income

11.54B JPY+25.75%

Net income

10.09B JPY+25.51%
Income trends across reported periods22.36B JPY16.37B JPY10.38B JPY4.39B JPYRevenue, FY2022: 13.61B JPYRevenue, FY2023: 15.16B JPYRevenue, FY2024: 16.71B JPYRevenue, FY2025: 17.78B JPYRevenue, FY2026: 20.86B JPYOperating income, FY2022: 6.67B JPYOperating income, FY2023: 7.63B JPYOperating income, FY2024: 8.51B JPYOperating income, FY2025: 9.18B JPYOperating income, FY2026: 11.54B JPYNet income, FY2022: 5.89B JPYNet income, FY2023: 6.76B JPYNet income, FY2024: 7.55B JPYNet income, FY2025: 8.04B JPYNet income, FY2026: 10.09B JPYFY2022FY2023FY2024FY2025FY2026
Revenue FY2022 13.61B JPY. Revenue FY2023 15.16B JPY. Revenue FY2024 16.71B JPY. Revenue FY2025 17.78B JPY. Revenue FY2026 20.86B JPY. Operating income FY2022 6.67B JPY. Operating income FY2023 7.63B JPY. Operating income FY2024 8.51B JPY. Operating income FY2025 9.18B JPY. Operating income FY2026 11.54B JPY. Net income FY2022 5.89B JPY. Net income FY2023 6.76B JPY. Net income FY2024 7.55B JPY. Net income FY2025 8.04B JPY. Net income FY2026 10.09B JPY.
Metric (JPY)FY2026FY2025FY2024FY2023FY2022
Revenue20.86B JPY17.78B JPY16.71B JPY15.16B JPY13.61B JPY
Cost of goods sold7.19B JPY6.63B JPY6.3B JPY5.77B JPY5.31B JPY
Gross profit13.67B JPY11.15B JPY10.4B JPY9.39B JPY8.29B JPY
Selling, general, and administrative1.7B JPY1.6B JPY1.53B JPY1.43B JPY1.32B JPY
Operating expenses2.13B JPY1.97B JPY1.89B JPY1.76B JPY1.62B JPY
Interest income26.41M JPY1.62M JPY142K JPY597K JPY2.04M JPY
Interest expense1.28B JPY954.88M JPY917.17M JPY720.52M JPY676.84M JPY
Depreciation and amortization2.2B JPY2.09B JPY2.03B JPY1.94B JPY1.93B JPY
Operating income11.54B JPY9.18B JPY8.51B JPY7.63B JPY6.67B JPY
Net income10.09B JPY8.04B JPY7.55B JPY6.76B JPY5.89B JPY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
91%
10 beats, 1 miss, 0 met estimates
Average EPS surprise
+10.06%
11 comparable reports
Latest EPS result
4,536
Estimate 2,545 · Beat by 78.23%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates4,717.443,932.813,148.192,363.56Q1 '23BeatQ3 '23BeatQ1 '24BeatQ3 '24BeatQ1 '25BeatQ1 '26BeatQ3 '26BeatQ3 '27Estimate
Q1 2023, reported Jan 18, 2023: actual 3,202.92, estimate 3,163, surprise +1.26%, Beat. Q3 2023, reported Jul 14, 2023: actual 3,195.15, estimate 3,125.5, surprise +2.23%, Beat. Q1 2024, reported Jan 18, 2024: actual 3,474.85, estimate 3,297.7, surprise +5.37%, Beat. Q3 2024, reported Jul 17, 2024: actual 3,432, estimate 3,414, surprise +0.53%, Beat. Q1 2025, reported Jan 17, 2025: actual 3,432.46, estimate 3,414, surprise +0.54%, Beat. Q1 2026, reported Jan 19, 2026: actual 4,162, estimate 4,143, surprise +0.46%, Beat. Q3 2026, reported Jul 16, 2026: actual 4,536, estimate 2,545, surprise +78.23%, Beat. Q3 2027, reported Jul 21, 2027: actual —, estimate 2,846.67, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates11.99B10.44B8.89B7.34BQ1 '23BeatQ3 '23BeatQ1 '24BeatQ3 '24MissQ1 '25BeatQ1 '26BeatQ3 '26BeatQ3 '27Estimate
Q1 2023, reported Jan 18, 2023: actual 8.4B JPY, estimate 7.8B JPY, surprise +7.62%, Beat. Q3 2023, reported Jul 14, 2023: actual 8.61B JPY, estimate 7.98B JPY, surprise +7.81%, Beat. Q1 2024, reported Jan 18, 2024: actual 9.85B JPY, estimate 8.49B JPY, surprise +16.05%, Beat. Q3 2024, reported Jul 17, 2024: actual 9.05B JPY, estimate 9.05B JPY, surprise -0.01%, Miss. Q1 2025, reported Jan 17, 2025: actual 10.47B JPY, estimate 9.05B JPY, surprise +15.74%, Beat. Q1 2026, reported Jan 19, 2026: actual 10.7B JPY, estimate 10.66B JPY, surprise +0.46%, Beat. Q3 2026, reported Jul 16, 2026: actual 11.53B JPY, estimate 9.05B JPY, surprise +27.35%, Beat. Q3 2027, reported Jul 21, 2027: actual —, estimate 9.91B JPY, surprise —, Comparison unavailable.

Corporate actions

Corporate action history

Stock split

Effective Sep 28, 2010

4:1

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ETFs holding 8966.T

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Total International Stock ETF logoVanguard Total International Stock ETFVXUS
Market value
12.24M
Weight
0.00%
AUM
646.2B USD
Expense ratio
0.05%
Price / 1D
$87.71+0.78%
Vanguard FTSE Developed Markets ETF logoVanguard FTSE Developed Markets ETFVEA
Market value
8.51M
Weight
0.00%
AUM
315B USD
Expense ratio
0.03%
Price / 1D
$73.42+0.80%
iShares Core MSCI EAFE ETF logoiShares Core MSCI EAFE ETFIEFA
Market value
7.3M
Weight
0.00%
AUM
195.14B USD
Expense ratio
0.07%
Price / 1D
$100.85+0.86%
Vanguard Global ex-U.S. Real Estate ETF logoVanguard Global ex-U.S. Real Estate ETFVNQI
Market value
3.34M
Weight
0.08%
AUM
3.9B USD
Expense ratio
0.12%
Price / 1D
$45.71+0.04%
Vanguard FTSE All-World ex-US Small-Cap ETF logoVanguard FTSE All-World ex-US Small-Cap ETFVSS
Market value
3.21M
Weight
0.02%
AUM
13.6B USD
Expense ratio
0.06%
Price / 1D
$160.06+0.43%
iShares MSCI EAFE Small-Cap ETF logoiShares MSCI EAFE Small-Cap ETFSCZ
Market value
3.2M
Weight
0.02%
AUM
13.28B USD
Expense ratio
0.40%
Price / 1D
$86.60+0.70%
iShares Global REIT ETF logoiShares Global REIT ETFREET
Market value
2.35M
Weight
0.05%
AUM
5.06B USD
Expense ratio
0.14%
Price / 1D
$28.02-0.21%
Dimensional - Global Real Estate ETF logoDimensional - Global Real Estate ETFDFGR
Market value
1.91M
Weight
0.05%
AUM
3.85B USD
Expense ratio
0.22%
Price / 1D
$29.46-0.20%

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