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Japan's largest electric utility, rebuilding after the Fukushima nuclear accident with thermal and renewable power.
Japan's largest electric utility, rebuilding after the Fukushima nuclear accident with thermal and renewable power.
Splits into a power-grid arm paid through regulated charges, a generation arm and a retail arm that has competed for customers since Japan opened retail electricity to competition in 2016. A state-backed fund holds a majority of the voting rights, and compensation and decommissioning costs from the Fukushima accident continue to draw on its earnings.
In one line: A utility working through a major nuclear liability, unlike most US utilities.
Moat: narrow (regulatory licence, installed base). Regulated grid monopoly in the Tokyo region despite ongoing Fukushima liabilities.
Headquarters: Tokyo, Japan · Founded: 1951 · Employees: 38,341
Size Tokyo Elec Power Co Hldgs (9501.T) is a Japan Utilities company (Electric Utilities) with a market value of $4.17B, the 277th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥410 on 6 Nov 2026.
Performance Over six months the shares fell 30.8%, against -8.3% for the median peer and +1.8% for the Japan market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue fell 2.4% over the last twelve months (peer median +4.4%); the operating margin is 1.4% (peer median 10.5%).
Valuation It trades at 3.7× forward earnings against a peer median of 11.2× (cheapest of 20).
Capital Return on invested capital runs 4.4 points below its cost of capital (5.0% WACC).
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥6.45T | ¥6.33T | ¥6.81T | ¥6.92T | ¥8.11T |
| Revenue growth | — | -7% | -2% | -15% | — |
| Gross profit | ¥87.0B | ¥359B | ¥255B | ¥300B | -¥209B |
| EBITDA | ¥499B | ¥727B | ¥602B | ¥637B | ¥139B |
| Net income | ¥311B | -¥454B | ¥161B | ¥268B | -¥124B |
| Free cash flow | n/a | -¥312B | -¥433B | ¥3.55B | -¥655B |
| Capital expenditure | n/a | ¥909B | ¥833B | ¥705B | ¥631B |
| Total debt | ¥6.76T | ¥6.83T | ¥6.69T | ¥6.45T | ¥5.87T |
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 |
|---|---|---|---|---|---|---|
| Tokyo Elec Power Co Hldgs 9501.T | $4.17B | -31% | -2% | 1% | 3.7× | n/a |
| Kansai Electric Power 9503.T | $17.3B | +2% | +2% | 6% | 8.2× | 11.0% |
| Chubu Electric Power 9502.T | $11.2B | -13% | +3% | 0% | 10.3× | n/a |
| Kyushu Electric Power Company,Incorporated 9508.T | n/a | +13% | n/a | n/a | n/a | n/a |
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 | 9501.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -20.9% | -0.2% | 2nd lowest of 21 |
| 6-month return | -30.8% | -8.3% | 2nd lowest of 21 |
| Distance from 52-week high | -56.3% | -25.2% | 2nd lowest of 21 |
| Revenue growth (TTM) | -2.4% | +4.4% | 8th lowest of 21 |
| Operating margin | 1.4% | 10.5% | 2nd lowest of 20 |
| Forward P/E | 3.7× | 11.2× | cheapest of 20 |
| ROIC minus cost of capital | -4.4 pp | -1.7 pp | 2nd lowest of 20 |
| EV / EBITDA | 13.7× | 10.0× | 3rd most expensive of 13 |
| Net debt / EBITDA | 12.3× | 5.0× | most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tokyo Elec Power Co Hldgs 9501.T | Japan | $4.17B | -31% | -2% | 1% | 3.7× | n/a | n/a |
| TransAlta TA.TO | Canada | $4.15B | +5% | -12% | 8% | 49.9× | 21.9% | +4.1% |
| AGL Energy AGL.AX | Australia | $4.21B | -3% | -6% | 11% | 10.5× | n/a | n/a |
| Northland Power NPI.TO | Canada | $4.22B | -4% | +15% | 34% | 14.3× | -1.7% | +3.4% |
| Algonquin Power & Utilities AQN.TO | Canada | $4.29B | -9% | +6% | 20% | 14.2× | n/a | n/a |
| China Power International Development 2380.HK | Hong Kong | $4.29B | -20% | -5% | 20% | 13.6× | n/a | n/a |
| Jiangsu Guoxin 002608.SZ | China | $4.30B | -1% | +7% | 5% | 12.6× | -0.7% | +10.5% |
| TAURON Polska Energia TPE.WA | Poland | $4.02B | -6% | 0% | n/a | 6.1× | 17.0% | +10.4% |
| Electric Power Development 9513.T | Japan | $4.39B | +2% | +4% | 10% | 8.2× | 4.5% | +5.4% |
| Tohoku Electric Power 9506.T | Japan | $3.89B | +13% | +17% | 3% | 4.9× | n/a | n/a |
| Drax DRX.L | United Kingdom | $3.88B | 0% | -8% | 9% | 10.4× | -0.2% | +4.8% |
| Shenzhen Energy 000027.SZ | China | $4.49B | -8% | +4% | 13% | 11.2× | n/a | n/a |
| Wintime Energy 600157.SS | China | $4.55B | -21% | -9% | 7% | 104.2× | 0.8% | +1.4% |
| Pampa Energia SA Sponsored ADR PAM | United States | $3.78B | -19% | +29% | 21% | 7.4× | n/a | n/a |
| Shaanxi Energy Investment 001286.SZ | China | $4.68B | -16% | +4% | 24% | 12.9× | -9.2% | +18.6% |
| Guangdong Electric Power Development 000539.SZ | China | $3.64B | -21% | +8% | -1% | n/a | 9.8% | +8.9% |
| Brookfield Renewable BEPC | United States | $4.79B | -13% | +6% | 19% | 249.6× | n/a | n/a |
| Guangzhou Development 600098.SS | China | $3.56B | -3% | +4% | 4% | 14.9× | -1.0% | +9.9% |
| Iren IRE.MI | Italy | $3.54B | -9% | -8% | 9% | 10.6× | 5.5% | +12.0% |
| NLC India NLCINDIA.NS | India | $3.50B | -28% | +17% | 18% | 9.9× | n/a | n/a |
| Shanghai Electric Power 600021.SS | China | $4.98B | -31% | -6% | 13% | 8.9× | n/a | n/a |