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Regional electric utility supplying power to Japan's Hokuriku region (central Japan coast).
Regional electric utility supplying power to Japan's Hokuriku region (central Japan coast).
Earns from electricity sold to households and businesses in its region and from regulated charges for use of its power network, with fuel-cost adjustments passing fuel price swings to customers after a lag. It relies on coal and hydropower because its Shika nuclear plant has been offline since 2011, and the January 2024 Noto earthquake damaged the area.
Moat: wide (regulatory licence, installed base, scale). Regulated regional monopoly transmission/distribution network serving Hokuriku.
Headquarters: Toyama, Japan · Founded: 1951 · Employees: 6,895
Size Hokuriku Electric Power (9505.T) is a Japan Utilities company (Electric Utilities) with a market value of $1.34B, the 612th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,012 on 6 Nov 2026.
Performance Over six months the shares gained 16.0%, against -16.4% for the median peer and +1.8% for the Japan market (cap-weighted) — 2nd highest of 20 in its peer set.
Growth Revenue fell 4.5% over the last twelve months (peer median +3.4%); the operating margin is 6.5% (peer median 12.0%).
Valuation It trades at 7.6× forward earnings against a peer median of 10.3× (7th cheapest of 14).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is +5 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.6 points below its cost of capital (5.0% WACC).
Next results Next results expected around 1 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥797B | ¥769B | ¥836B | ¥808B | ¥818B |
| Revenue growth | — | -8% | +3% | -1% | — |
| Gross profit | ¥52.0B | ¥125B | ¥135B | ¥172B | -¥22.1B |
| EBITDA | ¥115B | ¥134B | ¥142B | ¥180B | -¥10.3B |
| Net income | ¥37.7B | ¥54.5B | ¥65.1B | ¥56.8B | -¥88.4B |
| Free cash flow | n/a | ¥27.5B | ¥65.6B | ¥153B | -¥179B |
| Capital expenditure | n/a | ¥90.0B | ¥86.6B | ¥70.5B | ¥82.4B |
| Total debt | ¥1.13T | ¥1.11T | ¥1.16T | ¥1.19T | ¥1.28T |
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 |
|---|---|---|---|---|---|---|
| Hokuriku Electric Power 9505.T | $1.34B | +16% | -5% | 7% | 7.6× | 8.4% |
| Tohoku Electric Power 9506.T | $3.89B | +13% | +17% | 3% | 4.9× | n/a |
| Chubu Electric Power 9502.T | $11.2B | -13% | +3% | 0% | 10.3× | n/a |
| Kansai Electric Power 9503.T | $17.3B | +2% | +2% | 6% | 8.2× | 11.0% |
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 | 9505.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.2% | -3.8% | 10th lowest of 21 |
| 6-month return | +16.0% | -16.4% | 2nd highest of 20 |
| Distance from 52-week high | -14.2% | -29.2% | 5th highest of 21 |
| Revenue growth (TTM) | -4.5% | +3.4% | 6th lowest of 21 |
| Operating margin | 6.5% | 12.0% | 6th lowest of 21 |
| Forward P/E | 7.6× | 10.3× | 7th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | 8.4% | -1.0% | 4th most demanding of 17 |
| Growth delivered (Del g) | +3.7% | +7.7% | 4th lowest of 17 |
| Hurdle (Req g minus delivered) | +4.6 pp | -12.2 pp | 3rd most demanding of 17 |
| ROIC minus cost of capital | -2.6 pp | +0.8 pp | 6th lowest of 21 |
| EV / EBITDA | 10.7× | 8.3× | 2nd most expensive of 10 |
| Net debt / EBITDA | 8.8× | 0.7× | most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hokuriku Electric Power 9505.T | Japan | $1.34B | +16% | -5% | 7% | 7.6× | 8.4% | +3.7% |
| Hokkaido Electric Power Company,Incorporated 9509.T | Japan | $1.38B | +5% | -1% | 4% | 7.3× | n/a | n/a |
| Xinjiang Tianfu Energy 600509.SS | China | $1.40B | -16% | +9% | 7% | 14.7× | -4.3% | +11.5% |
| Electricite de Strasbourg ELEC.PA | France | $1.29B | -34% | -10% | 8% | n/a | -10.7% | +11.1% |
| Jinneng Holding Shanxi Electric Power 000767.SZ | China | $1.40B | -20% | -6% | 6% | n/a | 2.5% | +5.6% |
| Jiangxi Ganneng 000899.SZ | China | $1.26B | -31% | +24% | 13% | 7.4× | -4.4% | +22.6% |
| Hawaiian Electric Industries HE | United States | $1.45B | -43% | +2% | 11% | 5.2× | n/a | n/a |
| Vedanta Power VEDPOWER.NS | India | $1.46B | n/a | +5% | -13% | n/a | n/a | n/a |
| Guizhou Qianyuan Power 002039.SZ | China | $1.19B | -8% | +14% | 45% | 19.5× | -10.1% | +4.4% |
| Hunan Energy Group Development 000722.SZ | China | $1.19B | -13% | +126% | 48% | n/a | 0.8% | +2.4% |
| naturenergie NEAG.SW | Switzerland | $1.17B | -12% | -16% | 13% | 12.1× | -15.5% | +5.6% |
| CGN New Energy 1811.HK | Hong Kong | $1.16B | -23% | -12% | 26% | 6.2× | 4.2% | +8.2% |
| Kasumigaseki Capital 3498.T | Japan | $1.16B | +15% | +70% | 17% | 7.6× | n/a | n/a |
| Harbin Hatou Investment 600864.SS | China | $1.56B | -18% | 0% | -17% | n/a | -17.2% | -3.8% |
| Jiangsu New Energy Development 603693.SS | China | $1.56B | -21% | -3% | 35% | 20.9× | 0.7% | +6.1% |
| SG Mart SGMART.NS | India | $1.15B | +55% | +9% | 3% | 50.0× | 30.1% | +298.2% |
| Nava NAVA.NS | India | $1.59B | -26% | +9% | 29% | n/a | 19.8% | +11.0% |
| Dynagreen Environmental Protection 1330.HK | Hong Kong | $1.59B | +8% | +17% | 31% | 10.3× | -2.7% | +8.4% |
| Arendals Fossekompani AFK.OL | Norway | $1.11B | -2% | -7% | 11% | n/a | 14.4% | +3.6% |
| Central Puerto SA Sponsored ADR CEPU | United States | $1.64B | -29% | +51% | 29% | 5.0× | -5.0% | +10.3% |
| Romande Energie REHN.SW | Switzerland | $1.68B | -1% | +2% | 8% | 15.1× | 7.4% | +7.2% |