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Railway operator (Nankai Electric Railway) connecting Osaka to Kansai Airport, plus real estate and retail.
Railway operator (Nankai Electric Railway) connecting Osaka to Kansai Airport, plus real estate and retail.
Passenger fares on a regulated rail network carry the group, with real estate around its stations a second pillar, notably the Namba terminal complex in central Osaka. Fares need government approval, so income grows through ridership, airport and Mount Koya tourist traffic and rent rather than fare rises.
In one line: A Japanese diversified rail conglomerate linking a major airport to a metro area.
Moat: narrow (regulatory licence, installed base). Regulated rail monopoly including exclusive airport-access line plus station-area real estate.
Headquarters: Osaka, Japan · Founded: 1885 · Employees: 9,408
Size NANKAI (9044.T) is a Japan Industrials company (Other Transportation) with a market value of $2.03B, the 477th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,959 on 6 Nov 2026.
Performance Over six months the shares fell 0.5%, against -4.2% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 6.9% over the last twelve months (peer median +4.0%); the operating margin is 14.8% (peer median 14.7%).
Valuation It trades at 13.1× forward earnings against a peer median of 13.2× (9th cheapest of 17).
Capital Return on invested capital runs 1.6 points below its cost of capital (5.0% WACC).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥282B | ¥265B | ¥261B | ¥242B | ¥221B |
| Revenue growth | — | +2% | +8% | +9% | — |
| Gross profit | ¥54.2B | ¥49.0B | ¥42.6B | ¥37.9B | ¥27.7B |
| EBITDA | ¥70.3B | ¥68.7B | ¥63.2B | ¥58.5B | ¥48.9B |
| Net income | ¥25.7B | ¥25.1B | ¥22.5B | ¥23.9B | ¥14.6B |
| Free cash flow | n/a | -¥7.78B | ¥7.47B | ¥31.8B | ¥6.14B |
| Capital expenditure | n/a | ¥55.3B | ¥36.3B | ¥30.4B | ¥32.9B |
| Total debt | ¥498B | ¥460B | ¥436B | ¥433B | ¥476B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| NANKAI 9044.T | $2.03B | 0% | +7% | 15% | 13.1× | n/a |
| Kintetsu 9041.T | $4.23B | +5% | +2% | 5% | 13.5× | n/a |
| Keihan 9045.T | $2.15B | +3% | +10% | 15% | 11.5× | n/a |
| Hankyu Hanshin 9042.T | $7.03B | +3% | +6% | 10% | 13.2× | n/a |
| West Japan Railway 9021.T | $9.19B | +12% | +6% | 10% | 13.8× | 2.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 9044.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.4% | -0.9% | 9th lowest of 21 |
| 6-month return | -0.5% | -4.2% | 7th highest of 21 |
| Distance from 52-week high | -10.8% | -18.1% | 8th highest of 21 |
| Revenue growth (TTM) | +6.9% | +4.0% | 7th highest of 21 |
| Operating margin | 14.8% | 14.7% | 11th highest of 21 |
| Forward P/E | 13.1× | 13.2× | 9th cheapest of 17 |
| ROIC minus cost of capital | -1.6 pp | +1.5 pp | 5th lowest of 21 |
| EV / EBITDA | 11.3× | 10.2× | 7th most expensive of 14 |
| Net debt / EBITDA | 6.5× | 1.3× | 3rd most indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| NANKAI 9044.T | Japan | $2.03B | 0% | +7% | 15% | 13.1× | n/a | n/a |
| Shenzhen Airport 000089.SZ | China | $2.08B | -5% | +5% | 17% | 14.2× | -6.4% | +11.4% |
| Hutchison Port Holdings Trust NS8U.SI | Singapore | $1.96B | +7% | +5% | 42% | 15.3× | -10.5% | +1.7% |
| Westshore Terminals Investment WTE.TO | Canada | $1.90B | +16% | -16% | 33% | 26.3× | 11.9% | -2.6% |
| Tianjin Port 600717.SS | China | $1.89B | -2% | -8% | 18% | n/a | -14.6% | -1.6% |
| Comfortdelgro C52.SI | Singapore | $2.19B | -10% | +9% | 9% | 15.0× | -8.2% | +9.3% |
| Hainan Strait Shipping 002320.SZ | China | $1.88B | -34% | +4% | 23% | 70.1× | -0.5% | +36.7% |
| Nagoya Railroad 9048.T | Japan | $2.38B | +8% | -2% | 5% | 11.0× | n/a | n/a |
| Hamburger Hafen und Logistik HHFA.DE | Germany | $1.72B | -2% | +3% | 7% | n/a | n/a | n/a |
| Evergreen Aviation Technologies 2645.TW | Taiwan | $1.67B | -8% | +10% | 17% | 16.2× | -1.0% | +11.2% |
| SIA Engineering S59.SI | Singapore | $2.51B | -10% | -3% | 3% | 17.7× | 19.3% | +26.3% |
| FirstGroup FGP.L | United Kingdom | $1.60B | +40% | -6% | 5% | 11.4× | -7.6% | +1.9% |
| Xiamen Xiangyu 600057.SS | China | $2.59B | -14% | +9% | 1% | 8.7× | n/a | n/a |
| Dongguan Development (Holdings) 000828.SZ | China | $1.57B | -3% | -4% | 39% | 10.7× | 0.7% | +4.4% |
| Sotetsu 9003.T | Japan | $1.55B | -4% | +9% | 13% | 10.1× | n/a | n/a |
| Qinhuangdao Port 601326.SS | China | $2.70B | -5% | +2% | 23% | 10.3× | -10.9% | +2.7% |
| Shreeji Shipping Global SHREEJISPG.NS | India | $1.53B | +111% | +21% | 24% | n/a | n/a | n/a |
| Kamigumi 9364.T | Japan | $2.71B | -12% | +5% | 12% | 15.5× | -3.2% | +1.9% |
| Fujian Expressway Development 600033.SS | China | $1.51B | +1% | -3% | 47% | n/a | -16.1% | +5.6% |
| Sankyu 9065.T | Japan | $2.76B | -9% | 0% | 7% | 12.2× | -1.1% | +3.4% |
| Shenzhen International 0152.HK | Hong Kong | $1.49B | -35% | +15% | 11% | 6.1× | n/a | n/a |