WATCH NS United Kaiun Kaisha, Ltd. (9110.T)
Industrials · Marine Shipping · JPX · Japan
54
Final Score
2.3%
Margin of Safety
47
Quality Score
¥10,490
Current Price
¥247.2B
Market Cap
Key Metrics
Pe Ratio
10.26
Pb Ratio
1.31
Ev Ebitda
6.20
Roe
13.7%
Gross Margin
13.5%
Operating Margin
10.9%
Net Margin
10.0%
Dividend Yield
295.0%
Debt To Equity
34.05
Current Ratio
2.87
Beta
0.64
📈 Trend Charts
Revenue Trend
EPS Trend
Net Income Trend
Free Cash Flow Trend
Intrinsic Value Estimates
Low
¥8,588
Base
¥10,736
High
¥12,883
Pipeline Stage Details
Stage A — Hard Filters ✅
Pe Ratio
10.26
Eps Positive Years
4.00
Eps Lookback
4.00
Fcf Positive Years
4.00
Fcf Lookback
4.00
Debt To Equity
0.34
Current Ratio
2.87
Dilution Cagr
-0.00
Stage B — Quality Score: 47/100
Stage C — Cyclicality: MED
Normalized EPS
¥936.78
Stage F — Final Score Breakdown
| Component | Weighted Score |
|---|---|
| Valuation | 10.5 |
| Earnings Quality | 11.8 |
| Balance Sheet | 18.0 |
| Stability | 8.2 |
| Moat Proxies | 5.8 |
Top Drivers
- Modest discount: 2% margin of safety (price ¥10,490 vs intrinsic ¥10,736).
- Reasonable P/E of 10.3x — below long-run market average (~15-17x), suggesting the stock is not overpriced.
- Fortress balance sheet: D/E of 0.34x (conservative) and current ratio of 2.87x — ample liquidity and low financial risk. Graham emphasis on capital preservation.
- Strong free cash flow generation — the company converts earnings into real cash effectively, supporting dividends, buybacks, and debt reduction.
Top Risks
- Moderate cyclicality (Cyclical sector: Industrials) — earnings may fluctuate.
- Quality concern: Operating margin in structural decline
- Quality concern: Revenue declining: -2.9% CAGR
Financial History
| Year | Revenue | Gross Profit | Operating Income | Net Income | EPS |
|---|---|---|---|---|---|
| 2022 | N/A | N/A | N/A | N/A | ¥N/A |
| 2023 | ¥250.8B | ¥39.4B | ¥32.5B | ¥27.6B | ¥1,171.29 |
| 2024 | ¥233.1B | ¥29.0B | ¥21.6B | ¥18.0B | ¥763.20 |
| 2025 | ¥247.4B | ¥28.0B | ¥20.2B | ¥18.6B | ¥790.18 |
| 2026 | ¥229.8B | ¥29.0B | ¥20.5B | ¥24.1B | ¥1,022.46 |
Cash Flow History
| Year | Operating CF | CapEx | Free Cash Flow |
|---|---|---|---|
| 2022 | N/A | N/A | N/A |
| 2023 | ¥42.9B | ¥-6.2B | ¥36.8B |
| 2024 | ¥31.0B | ¥-13.3B | ¥17.7B |
| 2025 | ¥34.9B | ¥-18.5B | ¥16.3B |
| 2026 | ¥35.4B | ¥-5.5B | ¥29.9B |