9046.T
The company operates in the passenger transportation industry, primarily providing ground and sea transportation services, and generates revenue through fare-based passenger transport.
Business. The company operates in the passenger transportation industry, primarily providing ground and sea transportation services, and generates revenue through fare-based passenger transport.
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
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Composite-score breakdown
Synthesis
The company operates in the passenger transportation industry, primarily providing ground and sea transportation services, and generates revenue through fare-based passenger transport.
The company's capital structure is characterized by a high debt-to-equity ratio of 2.37, indicating a significant reliance on debt financing. Its liquidity position is constrained, as evidenced by a current ratio of 0.18, and it holds only 1.05 billion JPY in cash and equivalents, which is far below the 55.73 billion JPY in long-term debt. The company's free cash flow of 669 million JPY is modest and may not be sufficient to cover capital expenditures or reduce debt obligations.
Profitability metrics show that the company's return on equity is 4.89%, and its return on assets is 1.27%, both of which are below the industry median for passenger transportation firms. The operating margin is 7.14% (1.581 billion JPY operating income on 22.131 billion JPY revenue), which is relatively low for a company in this sector. The gross margin is 20.88% (4.622 billion JPY gross profit on 22.131 billion JPY revenue), suggesting that the company is facing cost pressures or pricing constraints.
The company's revenue is not segmented by geographic region or business line in the available data, but the high concentration of revenue in a single business model (passenger transportation) suggests a lack of diversification. This could expose the company to operational and demand-side risks if there is a decline in passenger volume or a shift in consumer preferences.
Looking ahead, the company's growth trajectory is uncertain. The available data does not provide forward-looking revenue guidance, but the modest free cash flow and high debt load may limit the company's ability to invest in growth initiatives. The company's capital expenditures of 2.609 billion JPY in the most recent period suggest ongoing investment in infrastructure or fleet maintenance, but the scale of these expenditures is not sufficient to drive significant revenue growth.
The company's risk profile is elevated due to its high debt-to-equity ratio and limited liquidity. The risk assessment indicates a medium liquidity risk and a low dilution risk, but the net cash position is negative after subtracting total debt, which could lead to refinancing challenges. The company has not issued new shares recently, and there is no indication of dilution pressure in the near term.
Recent events, including the latest financial filings and analyst estimates, show that the company's revenue and earnings per share (EPS) are in line with analyst expectations. The last actual EPS was 143.47 JPY, and the last actual revenue was 22.131 billion JPY. There are no recent transcripts or filings that indicate significant operational or strategic changes.
- The company has a high debt-to-equity ratio of 2.37, indicating a heavy reliance on debt financing.
- The company's return on equity is 4.89%, and its return on assets is 1.27%, both of which are below the industry median.
- The company's liquidity position is weak, with a current ratio of 0.18 and limited cash reserves.
- The company's revenue is concentrated in a single business model, which increases operational risk.
- The company's growth trajectory is uncertain, with limited free cash flow and high capital expenditures.
- The company's risk profile is elevated due to its high debt load and limited liquidity.
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- Net cash is negative after subtracting total debt.
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- 9046.T Market data — financials · 2026-05-27
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