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West Japan Railway Company

9021.TIndustrialsTSE

Railroads · Last scanned May 29, 2026

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Financials · Annual
Revenue
$1.71T
+4.5% YoY
Net Income
$113.96B
+15.4% YoY
EBITDA
$353.35B
+7.5% YoY
Free Cash Flow
$22.13B

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About West Japan Railway Company

West Japan Railway Company, together with its subsidiaries, engages in the railway operation business in Japan. The $1.20T market capitalization puts 9021.T squarely in mega-cap range for its industry. It operates through five segments: Mobility, Distribution, Real Estate, Travel and Regional Solutions, and Others.

Key stats
Market Cap$1.20T
P/E (TTM)9.51
Fwd P/E11.19
EPS$277.72
Beta0.08
52W Change-16.0%
Dividend Yield3.72%
ROE10.2%
Analysis

On the balance sheet, 9021.T has $235.21B in cash with $1.54T in obligations. The ability to service this debt comfortably depends on continued operational cash generation. Annual free cash flow of $22.13B supports ongoing capital allocation decisions and provides a cushion against unexpected expenses or downturns. Return on equity stands at 10.2%, which is decent for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. ROA of 3.2% is on the lower side, which is common in asset-heavy industries. Revenue has grown from $1.03T (2022) to $1.71T (2025), reflecting a 66% increase over the period.

The relatively low beta of 0.08 suggests 9021.T is a less volatile holding compared to the broader index. Debt significantly exceeds cash reserves, which means the company's financial flexibility could be constrained during economic downturns. These risk factors are not exhaustive — macroeconomic shifts, regulatory changes, and competitive dynamics can all influence West Japan Railway Company's trajectory.

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