Market cap ¥1.95TNext earnings 2026-11-04Updated Oct 24, 2026 · valuation updating
Our verdict
No fair value
We are missing the financial data our models need for this company. It will appear once the data arrives.
Not valued: there are no financial statements on file yet.
ACCE opinionKawasaki Kisen Kaisha, Ltd. (9107.T)
Fair value
Not available
ACCE price target
¥3511
Rating
Not rated
Horizon
12 months
ACCE price target published on 22 Oct 2026, 16:00 CEST.
Price used: ¥3326 at the close on 23 Oct 2026, 08:30 CEST.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
72
out of 100
P/E
17.0x
forward 9.5x
1-year return
+55.3%
Dividend yield
3.52%
Kawasaki Kisen Kaisha, Ltd. in four questions
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Overview
ACCE thesis
Kawasaki Kisen Kaisha (K Line) runs a global dry bulk, tanker, and container fleet, with a large liquefied natural gas carrier business and a car carrier network that is among the largest in the world. Its edge is scale and specialisation in LNG and vehicle shipping, where long-term charters with utilities and automakers give cash flows that are steadier than spot freight rates alone would suggest. The near-term driver is earnings momentum: revenue grew 17.1% and the stock trades on a forward P/E of 9.7 against a trailing 17.1, which implies the market expects profits to rise sharply from here. The gap between trailing and forward multiples is the number to test, because it only holds if freight rates and LNG charter income stay firm, and a 6.8% operating margin leaves little room for a downturn in shipping rates. Worth a deeper look to pressure-test the sustainability of the forward earnings, not yet a conclusion on value.
⚠ Investor warnings · 1 flagAI-assisted·How I use AI
moderate
Earnings falling despite revenue growth
Revenue rose 17.1% year on year, but earnings fell 21.1%, so profit is not keeping pace with sales. Operating margin of 6.8% leaves little cushion if freight rates soften.
AI research notes
AI-assisted·How I use AIWritten Oct 22, 2026 · figures from 2026-10-22 · prices to Oct 23, 2026
Why it could do well
Forward P/E of 9.7x sits well below the trailing 17.0x, implying earnings are expected to recover sharply.
Latest quarter's earnings per share beat expectations by 87.0%, with 48.07 reported against 25.70 expected.
A 3.5% dividend yield pays shareholders while they wait, and debt to equity of 0.13 leaves a modest balance sheet load.
Why it could disappoint
Analysts' mean price target of JPY 2951.82 sits 13.3% below the share price, suggesting they see limited upside from here.
Return on equity of 7.6% is thin for a company that must earn enough to justify its share price and reinvest in ships.
Revenue growth averaged just 2.6% a year over five years, so the recent 17.1% jump may not be a durable trend.
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