BUY Japan Airlines Co., Ltd. (9201.T)
Industrials · Airlines · JPX · Japan
74
Final Score
47.7%
Margin of Safety
68
Quality Score
¥3,025
Current Price
¥1.3T
Market Cap
Key Metrics
Pe Ratio
9.86
Forward Pe
12.14
Pb Ratio
0.90
Ev Ebitda
2.91
Roe
9.1%
Gross Margin
59.1%
Operating Margin
2.1%
Net Margin
5.5%
Dividend Yield
319.0%
Debt To Equity
55.55
Current Ratio
1.55
Beta
0.43
📈 Trend Charts
Revenue Trend
EPS Trend
Net Income Trend
Free Cash Flow Trend
Intrinsic Value Estimates
Low
¥4,629
Base
¥5,786
High
¥6,943
Pipeline Stage Details
Stage A — Hard Filters ✅
Pe Ratio
9.86
Eps Positive Years
4.00
Eps Lookback
4.00
Fcf Positive Years
4.00
Fcf Lookback
4.00
Debt To Equity
0.56
Current Ratio
1.55
Dilution Cagr
-0.01
Stage B — Quality Score: 68/100
Stage C — Cyclicality: MED
Normalized EPS
¥212.36
Stage F — Final Score Breakdown
| Component | Weighted Score |
|---|---|
| Valuation | 28.5 |
| Earnings Quality | 17.0 |
| Balance Sheet | 13.0 |
| Stability | 8.2 |
| Moat Proxies | 7.6 |
Top Drivers
- Deep discount: Japan Airlines Co., Ltd. trades at ¥3,025, estimated intrinsic value is ¥5,786 — a 48% margin of safety. Graham requires ≥30%; this exceeds even the 45% strong-buy threshold.
- Adequate quality (score 68/100): meets minimum quality thresholds for the Graham-Buffett framework.
- Low P/E of 9.9x — classic Graham deep-value territory. The market is pricing in pessimism, yet the business continues to generate positive earnings.
- Solid ROIC of 12.3% — above the 12% threshold, indicating the business creates genuine economic value for shareholders.
- Conservative leverage: D/E ratio of 0.56x is well within Graham's maximum of 1.0x, reducing insolvency risk.
Top Risks
- Moderate cyclicality (Cyclical sector: Industrials) — earnings may fluctuate.
Financial History
| Year | Revenue | Gross Profit | Operating Income | Net Income | EPS |
|---|---|---|---|---|---|
| 2023 | ¥1.4T | ¥601.7B | ¥65.1B | ¥34.4B | ¥78.77 |
| 2024 | ¥1.7T | ¥811.0B | ¥140.9B | ¥95.5B | ¥218.61 |
| 2025 | ¥1.8T | ¥944.7B | ¥168.6B | ¥107.0B | ¥245.09 |
| 2026 | ¥2.0T | ¥1.1T | ¥207.3B | ¥137.6B | ¥306.96 |
Cash Flow History
| Year | Operating CF | CapEx | Free Cash Flow |
|---|---|---|---|
| 2022 | N/A | N/A | N/A |
| 2023 | ¥292.9B | N/A | ¥292.9B |
| 2024 | ¥363.9B | N/A | ¥363.9B |
| 2025 | ¥381.5B | N/A | ¥381.5B |
| 2026 | ¥394.9B | N/A | ¥394.9B |