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Japanese shipping company operating dry bulk carriers, car carriers and tankers, plus container shipping via an alliance.
Japanese shipping company operating dry bulk carriers, car carriers and tankers, plus container shipping via an alliance.
Earns freight and charter hire on dry bulk, car carriers and tankers, with much of the car-carrier and energy business on long contracts. Container shipping runs through Ocean Network Express, the 2018 venture with Nippon Yusen and Mitsui O.S.K., so it appears as a share of the venture's profit rather than as revenue from its own ships.
In one line: The smallest of Japan's three major shipping lines.
Moat: narrow (scale, installed base). Long-standing charter relationships and fleet scale, though smallest of Japan's three major shipping lines.
Headquarters: Tokyo, Japan · Founded: 1919 · Employees: 5,262
Size Kawasaki Kisen Kaisha (9107.T) is a Japan Industrials company (Marine Shipping) with a market value of $11.0B, the 129th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,998 on 6 Nov 2026.
Performance Over six months the shares gained 17.0%, against +12.5% for the median peer and +1.8% for the Japan market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 10.8% over the last twelve months (peer median -1.6%); the operating margin is 8.2% (peer median 14.3%).
Valuation It trades at 9.4× forward earnings against a peer median of 8.9× (9th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.9 points below its cost of capital (7.3% WACC).
Next results Next results expected around 29 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.12T | ¥1.02T | ¥1.05T | ¥958B | ¥943B |
| Revenue growth | — | -3% | +9% | +2% | — |
| Gross profit | ¥180B | ¥166B | ¥180B | ¥157B | ¥141B |
| EBITDA | ¥145B | ¥137B | ¥152B | ¥129B | ¥121B |
| Net income | ¥189B | ¥133B | ¥305B | ¥102B | ¥695B |
| Free cash flow | n/a | ¥181B | ¥143B | ¥120B | ¥388B |
| Capital expenditure | n/a | ¥88.7B | ¥132B | ¥84.5B | ¥68.5B |
| Total debt | ¥248B | ¥296B | ¥345B | ¥288B | ¥352B |
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 |
|---|---|---|---|---|---|---|
| Kawasaki Kisen Kaisha 9107.T | $11.0B | +17% | +11% | 8% | 9.4× | 7.3% |
| Nippon Yusen Kabushiki Kaisha 9101.T | $16.8B | +17% | 0% | 6% | 9.0× | 7.8% |
| Mitsui O.s.k. Lines 9104.T | $15.0B | +10% | +20% | 6% | 7.3× | n/a |
| A.P. Moller - Maersk A/S MAERSK-A.CO | $47.6B | +44% | -8% | 5% | 5.9× | -1.3% |
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 | 9107.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.1% | -4.8% | 5th lowest of 21 |
| 6-month return | +17.0% | +12.5% | 9th highest of 21 |
| Distance from 52-week high | -16.9% | -14.8% | 9th lowest of 21 |
| Revenue growth (TTM) | +10.8% | -1.6% | 6th highest of 21 |
| Operating margin | 8.2% | 14.3% | 7th lowest of 21 |
| Forward P/E | 9.4× | 8.9× | 9th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 7.3% | -0.4% | 4th most demanding of 18 |
| Growth delivered (Del g) | +10.2% | +9.2% | 9th highest of 18 |
| Hurdle (Req g minus delivered) | -2.9 pp | -13.0 pp | 6th most demanding of 18 |
| ROIC minus cost of capital | -3.9 pp | +1.8 pp | 2nd lowest of 21 |
| EV / EBITDA | 12.6× | 7.8× | 3rd most expensive of 17 |
| Net debt / EBITDA | 0.4× | 1.3× | 8th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Kawasaki Kisen Kaisha 9107.T | Japan | $11.0B | +17% | +11% | 8% | 9.4× | 7.3% | +10.2% |
| Ningbo Zhoushan Port 601018.SS | China | $10.4B | -4% | +12% | 16% | n/a | -7.3% | +7.6% |
| COSCO SHIPPING Energy Transportation 1138.HK | Hong Kong | $12.8B | -22% | +22% | 31% | 4.7× | 0.5% | +7.1% |
| OOIL 0316.HK | Hong Kong | $12.8B | +10% | -8% | 10% | 5.9× | -2.3% | +3.6% |
| Wan Hai Lines 2615.TW | Taiwan | $9.12B | +40% | -14% | 22% | 5.8× | -12.0% | +11.4% |
| Mitsui O.s.k. Lines 9104.T | Japan | $15.0B | +10% | +20% | 6% | 7.3× | n/a | n/a |
| HMM 011200.KS | South Korea | $15.3B | +8% | -5% | 11% | 9.7× | -1.8% | +11.2% |
| SITC International 1308.HK | Hong Kong | $15.8B | +34% | +5% | 34% | 10.7× | -0.4% | +15.3% |
| Wallenius Wilhelmsen WAWI.OL | Norway | $7.58B | +29% | -11% | 25% | 10.4× | -6.6% | +21.0% |
| Evergreen Marine Corp(taiwan) 2603.TW | Taiwan | $16.1B | +28% | -20% | 15% | 5.0× | -9.1% | +12.9% |
| Nippon Yusen Kabushiki Kaisha 9101.T | Japan | $16.8B | +17% | 0% | 6% | 9.0× | 7.8% | +8.5% |
| Kirby KEX | United States | $6.39B | -15% | +8% | 14% | 14.6× | 6.2% | +9.2% |
| Matson MATX | United States | $6.34B | +16% | 0% | 14% | 10.9× | 11.8% | +7.0% |
| China Merchants Energy Shipping 601872.SS | China | $19.6B | -8% | +60% | 39% | 6.3× | -9.5% | +5.4% |
| Yang Ming Marine Transport 2609.TW | Taiwan | $6.03B | +14% | -22% | 6% | 6.5× | n/a | n/a |
| Hapag-Lloyd HLAG.DE | Germany | $25.1B | +11% | -9% | 2% | 18.5× | 34.4% | +7.8% |
| COSCO Shipping Specialized Carriers 600428.SS | China | $4.40B | +25% | +37% | 19% | 8.9× | -17.9% | +27.0% |
| COSCO SHIPPING Development 601866.SS | China | $3.87B | -10% | -3% | 13% | 3.8× | n/a | n/a |
| Hoegh Autoliners HAUTO.OL | Norway | $3.64B | +20% | -4% | 30% | 9.6× | -0.1% | +16.4% |
| Kuehne & Nagel International KNIN.SW | Switzerland | $34.3B | +35% | +1% | 5% | 25.4× | 3.2% | +3.7% |
| ZIM Integrated Shipping Services ZIM | United States | $3.37B | +5% | -25% | 6% | 3.7× | 2.7% | +11.6% |