West Japan Railway Company logo

West Japan Railway Company

9021.T

JPXIndustrialsRailroads

Latest quote

¥2,953

−¥6.50 · -0.22%

Aug 24, 3:30 PM JST

9021.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Company website

Based in Osaka, Japan, West Japan Railway Company, founded in 1987, primarily delivers passenger rail transportation services across the country. The company's operations span several key divisions: Transportation Operations, Retail Business, Real Estate Business, and various Other Businesses. It maintains a substantial railway infrastructure, extending 4,903.1 kilometers in total, comprising 812.6 kilometers of high-speed Shinkansen routes and 4,090.5 kilometers of conventional lines, facilitating travel through 1,174 stations. Additionally, it offers supplementary bus and ferry services. Beyond its core transport functions, the company engages extensively in retail, including the sale of goods, food service provision, wholesale distribution, and other retail initiatives. This encompasses the management of department stores, convenience stores, restaurants, souvenir shops, and shopping centers. Its real estate portfolio involves property sales and leasing. JR West also holds interests in hospitality (hotels), financial services (credit cards, electronic money), travel arrangements, rolling stock and equipment manufacturing, electrical contracting, construction, information technology solutions, and advertising.

Industry
Railroads
Sector
Industrials
Headquarters
JP
CEO
Kazuaki Hasegawa
Listed since
Apr 1, 1987
Employees
47,225

Market position

Day range

Current ¥2,953

52-week range

Current ¥2,953

Open
¥2,957
Previous close
¥2,959.5
Volume
1.31M
0.45× average
Average volume
2.91M
Average daily volume
Market cap
1.34T JPY
Beta
0.07
Market reference 1
50-day average
¥2,845.97
+3.76% above average
200-day average
¥3,009.51
-1.88% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
2.8T JPY
P/E (TTM)
11.41×
P/B (TTM)
1.1×
P/S (TTM)
0.73×
EV / EBITDA
7.39×
Earnings yield
8.88%
Free cash flow yield
5.47%
Dividend yield
3.30%

Profitability & efficiency

Gross margin
24.77%
Operating margin
10.35%
Net margin
6.39%
Return on equity
10.56%
Return on assets
3.20%
Return on invested capital
4.40%

Financial health

Debt / equity
1.35×
Current ratio
1.03×
Altman Z-score
1.25
Piotroski F-score
5 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends29%14%-1%-15%Gross margin, FY2022: 2.93%Gross margin, FY2023: 18.44%Gross margin, FY2024: 23.49%Gross margin, FY2025: 23.71%Gross margin, FY2026: 25.05%Operating margin, FY2022: -11.55%Operating margin, FY2023: 6.14%Operating margin, FY2024: 10.99%Operating margin, FY2025: 10.55%Operating margin, FY2026: 10.73%Net margin, FY2022: -10.98%Net margin, FY2023: 6.34%Net margin, FY2024: 6.04%Net margin, FY2025: 6.67%Net margin, FY2026: 6.91%FY2022FY2023FY2024FY2025FY2026
Gross margin FY2022 2.93%. Gross margin FY2023 18.44%. Gross margin FY2024 23.49%. Gross margin FY2025 23.71%. Gross margin FY2026 25.05%. Operating margin FY2022 -11.55%. Operating margin FY2023 6.14%. Operating margin FY2024 10.99%. Operating margin FY2025 10.55%. Operating margin FY2026 10.73%. Net margin FY2022 -10.98%. Net margin FY2023 6.34%. Net margin FY2024 6.04%. Net margin FY2025 6.67%. Net margin FY2026 6.91%.

Income trends

Revenue

1.85T JPY+8.07%

Operating income

198.08B JPY+9.95%

Net income

127.5B JPY+11.88%
Income trends across reported periods2.04T JPY1.26T JPY470.39B JPY−315.59B JPYRevenue, FY2022: 1.03T JPYRevenue, FY2023: 1.4T JPYRevenue, FY2024: 1.64T JPYRevenue, FY2025: 1.71T JPYRevenue, FY2026: 1.85T JPYOperating income, FY2022: −119.09B JPYOperating income, FY2023: 85.68B JPYOperating income, FY2024: 179.75B JPYOperating income, FY2025: 180.16B JPYOperating income, FY2026: 198.08B JPYNet income, FY2022: −113.2B JPYNet income, FY2023: 88.53B JPYNet income, FY2024: 98.76B JPYNet income, FY2025: 113.96B JPYNet income, FY2026: 127.5B JPYFY2022FY2023FY2024FY2025FY2026
Revenue FY2022 1.03T JPY. Revenue FY2023 1.4T JPY. Revenue FY2024 1.64T JPY. Revenue FY2025 1.71T JPY. Revenue FY2026 1.85T JPY. Operating income FY2022 −119.09B JPY. Operating income FY2023 85.68B JPY. Operating income FY2024 179.75B JPY. Operating income FY2025 180.16B JPY. Operating income FY2026 198.08B JPY. Net income FY2022 −113.2B JPY. Net income FY2023 88.53B JPY. Net income FY2024 98.76B JPY. Net income FY2025 113.96B JPY. Net income FY2026 127.5B JPY.
Metric (JPY)FY2026FY2025FY2024FY2023FY2022
Revenue1.85T JPY1.71T JPY1.64T JPY1.4T JPY1.03T JPY
Cost of goods sold1.38T JPY1.3T JPY1.25T JPY1.14T JPY1T JPY
Gross profit462.32B JPY404.9B JPY384.14B JPY257.3B JPY30.21B JPY
Research and development8.6B JPY7.63B JPY6B JPY4.98B JPY
Selling, general, and administrative264.24B JPY207.69B JPY188.91B JPY158.31B JPY137.34B JPY
Operating expenses264.24B JPY224.74B JPY204.39B JPY171.62B JPY149.31B JPY
Interest income277M JPY65M JPY57M JPY41M JPY101M JPY
Interest expense21.74B JPY19.51B JPY20.1B JPY20.82B JPY21.45B JPY
Depreciation and amortization177.85B JPY169.35B JPY163.32B JPY159.66B JPY162.07B JPY
Operating income198.08B JPY180.16B JPY179.75B JPY85.68B JPY−119.09B JPY
Net income127.5B JPY113.96B JPY98.76B JPY88.53B JPY−113.2B JPY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
50%
5 beats, 5 misses, 0 met estimates
Average EPS surprise
+38.66%
10 comparable reports
Latest EPS result
85.8
Estimate 75.11 · Beat by 14.23%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates128.1674.6921.22-32.24Q1 '25MissQ2 '25BeatQ3 '25BeatQ4 '25MissQ1 '26MissQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Jan 31, 2025: actual 95.26, estimate 117.1, surprise -18.65%, Miss. Q2 2025, reported May 2, 2025: actual -0.76, estimate -21.18, surprise +96.41%, Beat. Q3 2025, reported Aug 5, 2025: actual 104.54, estimate 82.34, surprise +26.96%, Beat. Q4 2025, reported Nov 4, 2025: actual 86.02, estimate 92.56, surprise -7.07%, Miss. Q1 2026, reported Feb 3, 2026: actual 75.56, estimate 92.61, surprise -18.41%, Miss. Q2 2026, reported Apr 30, 2026: actual 14.9, estimate 5.05, surprise +195.05%, Beat. Q3 2026, reported Aug 5, 2026: actual 85.8, estimate 75.11, surprise +14.23%, Beat. Q4 2026, reported Nov 3, 2026: actual —, estimate 68.76, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates532.76B489.2B445.64B402.08BQ1 '25MissQ2 '25MissQ3 '25MissQ4 '25BeatQ1 '26MissQ2 '26MissQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Jan 31, 2025: actual 434.29B JPY, estimate 439.15B JPY, surprise -1.11%, Miss. Q2 2025, reported May 2, 2025: actual 462.27B JPY, estimate 473.65B JPY, surprise -2.40%, Miss. Q3 2025, reported Aug 5, 2025: actual 427.06B JPY, estimate 429.2B JPY, surprise -0.50%, Miss. Q4 2025, reported Nov 4, 2025: actual 462.47B JPY, estimate 445.95B JPY, surprise +3.71%, Beat. Q1 2026, reported Feb 3, 2026: actual 467.64B JPY, estimate 469.2B JPY, surprise -0.33%, Miss. Q2 2026, reported Apr 30, 2026: actual 506.37B JPY, estimate 512.27B JPY, surprise -1.15%, Miss. Q3 2026, reported Aug 5, 2026: actual 424.4B JPY, estimate 422.57B JPY, surprise +0.43%, Beat. Q4 2026, reported Nov 3, 2026: actual —, estimate 436.21B JPY, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

¥92.50

2025 complete year+85.0% since 2021

2026 partial: ¥52.50

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Sep 29, 2026

¥48.50

Semi-Annual

Record Sep 30, 2026 · Payment Sep 29, 2026

DividendUpcoming

Ex-dividend Mar 30, 2027

¥49.00

Semi-Annual

Record Mar 31, 2027 · Payment Mar 30, 2027

Dividend

Ex-dividend Mar 30, 2026

¥52.50

Semi-Annual

Record Mar 31, 2026 · Payment Jun 19, 2026

Dividend

Ex-dividend Sep 29, 2025

¥45.00

Semi-Annual

Record Sep 30, 2025 · Payment Nov 28, 2025

Dividend

Ex-dividend Mar 28, 2025

¥47.50

Semi-Annual

Record Mar 31, 2025 · Payment Jun 19, 2025

Dividend

Ex-dividend Sep 27, 2024

¥37.00

Semi-Annual

Record Sep 30, 2024 · Payment Nov 28, 2024

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