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Japan Airport Terminal Co (JTTRY) Fair Value & Analysis

Industrials · US · Market cap $2.9B

JA Japan Airport Terminal Co logo Japan Airport Terminal Co JTTRY · US
Price$18.20
Fair Value$21.67
Upside+19.1%
Quality61/100
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Healthy Growth
Solidly profitable · 10.1% net margin
Moderate debt · generates free cash flow
2.12% dividend yield
Ranks above peers (7/11)
Moderate moat 55/100
Evidence: High Range $11.85 – $27.09 Share as image

Fair value as of: Jul 17, 2026

From 24 valuation models · updated 24 days ago

Share price +17.4% over the past month.

A solid business, screening 19% undervalued on our models.

What matters now

  • A fairly wide model range ($11.85 to $27.09) leaves room in how you read the outcome.
  • Our model range runs from $11.85 (bear) to $27.09 (bull), base $21.67. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 61/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

$31.14 $11.98 Fair Value $21.67 Aug 2018 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range $11.98 – $31.14 · fair‑value band $11.85 – $27.09 · the $18.20 price screens below the $21.67 fair value. Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Japan Airport Terminal Co (JTTRY) currently trades at $18.20, while our model-based Fair Value estimate is $21.67, implying the stock looks roughly 19.1% undervalued today. The Quality Score stands at 61/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Japan Airport Terminal Co generated revenue of $290B at a net margin of 10.1%. Revenue grew 6.3% year over year. It earns a return on equity of 17.6%. Net debt stands at $98.5B. Fundamentals as of Jul 17, 2026

Our scenario range runs from $11.85 (bear case) to $27.09 (bull case); at $18.20, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 28% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -29% fair-value upside, at 19%, JTTRY screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $11.80 $22.29 $39.14 80
Rev-Margin DCF $10.38 $20.10 $32.64 74
ROIC Compounder $10.56 $15.22 $21.57 72
All 24 models by family
DCF Models
FCF DCF $11.95 $23.53 $42.88 38
Owner Earnings $6.48 $13.86 $26.20 31
5Y Revenue Exit $10.38 $20.32 $33.75 39
5Y EBITDA Exit $17.72 $35.44 $57.80 41
5Y P/E Exit $11.85 $23.34 $36.44 38
10Y Revenue Exit $10.36 $19.85 $34.29 36
10Y EBITDA Exit $15.54 $30.68 $53.96 37
10Y P/E Exit $11.74 $22.02 $36.49 35
Earnings-Based
Graham-Dodd $7.02 $32.51 $44.65 54
Lynch FV $8.57 $12.24 $15.91 50
PEG = 1.0 $8.57 $12.24 $15.91 46
EPV $9.53 $11.53 $13.26 59
Multiples
P/E Multiple $16.25 $21.67 $27.09 63
P/S Multiple $13.16 $17.54 $21.93 58
P/B Multiple $13.16 $17.54 $21.93 55
EV/EBIT $17.20 $23.98 $30.76 53
EV/EBITDA $22.70 $31.31 $39.92 54
EV/Revenue $9.79 $15.33 $20.88 43
Asset-Based
NCAV (Graham) $3.53 $4.73 $7.05 50
Growth DCF
Growth DCF $11.80 $22.29 $39.14 80
Rev-Margin DCF $10.38 $20.10 $32.64 74
Economic Profit
Residual Income $6.88 $8.77 $21.73 61
ROIC Compounder $10.56 $15.22 $21.57 72
Growth Earnings
Growth-Adj P/E $13.68 $19.54 $25.40 68

Widest divergence: DCF Models ($22.02) versus Asset-Based ($4.73). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $290B
Revenue growth (YoY) +6.3%
Net margin 10.1%
Return on equity 17.6%
Free cash flow $37.0B FY2026
P/E ratio 16.1
More key figures
Operating margin 13.0%
EPS (TTM) $0.9800
Dividend yield 2.1%
EPS growth (YoY) -20.8%
Net debt $98.5B FY2026

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 60 · Market factors (momentum, volatility) 54

Profitability 51
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 66
Earnings quality: real cash, not paper profit
Fin. Strength 58
Balance sheet, leverage, solvency risk
Investment 55
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 60
Distance to the 52-week high (market factor)
Net Issuance 83
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Japan Airport Terminal Co., Ltd. primarily engages in the management of passenger terminal buildings in Japan. It operates through three segments: Facilities Management, Merchandise Sales, and Food and Beverage.

Full company description

Japan Airport Terminal Co., Ltd. primarily engages in the management of passenger terminal buildings in Japan. It operates through three segments: Facilities Management, Merchandise Sales, and Food and Beverage. The company constructs, manages, and operates domestic passenger terminal buildings; rents offices, stores, and other facilities to airline companies and airport concessionaires; and operates and manages parking lots. In addition, it is involved in the merchandise sale at stores in domestic and international terminals, including stores in the lobby; and provision of airport passenger, travel insurance agency, and hotel reservation services, as well as rental of halls and conference rooms. Further, the company engages in the sale of international and domestic travel, and transport and events tickets; and management and operation of Haneda Airport Wharf. Additionally, it is involved in the commissioned activities, including facility maintenance and management, duty-free shop operation, services for travelers, etc.; wholesale of duty-free goods; and merchandise and commissioned sale. Furthermore, the company operates restaurants; and produces and sells in-flight meals. Japan Airport Terminal Co., Ltd. was incorporated in 1953 and is headquartered in Tokyo, Japan.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Japan Airport Terminal Co reported revenue of $307B in FY2026 versus $57.1B in FY2022, a compound +52.3%/yr. Reported net income was $30.9B in FY2026.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
$307B
Latest YoY
+13.8%
Avg. growth/yr (3Y)
+39.6%
Avg. growth/yr (5Y)
+42.4%
Avg. growth/yr (21Y)
+4.9%
Revenue +52.3%/yr
FY22 $57.1B
FY23 $113B
FY24 $218B
FY25 $270B
FY26 $307B
Net income
FY22 −$25.2B
FY23 −$3.9B
FY24 $19.3B
FY25 $27.5B
FY26 $30.9B

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Cite: Fair Value Calculator (2026). "Japan Airport Terminal Co Fair Value". https://www.fairvalue-calculator.com/stock/JTTRY

Peer Group

Airports & Air Services · 55 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 61 · Above median
Fair Value upside +19% · Above median
Return on equity (TTM) 18% · Above median
Return on assets 6% · Above median
Net margin (TTM) 10% · Below median
Operating margin (TTM) 13% · Below median
Revenue growth 6% · Above median
Dividend yield (TTM) 2.1% · Below median
Debt / equity 0.91× · Higher than 75% of peers

Valuation Multiples vs Airports & Air Services median · lower = cheaper

P/E (TTM) 16.1× · Cheaper than median
P/FCF 0.1× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 59 · sector 36
FUTURE 32 · sector 31
PAST 70 · sector 45
HEALTH 55 · sector 90
DIVIDEND 42 · sector 46

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Airports & Air Services stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Aena S.M.E., S.A AENA €26.24 €28.41 +8%
Airports of Thailand Public Company TATD 2.44 SGD 1.25 SGD -49%
Grupo Aeroportuario del Pacífico, S.A. PAC $220.91 $246.06 +11%
GMR Airports Limited GMRINFRA ₹112.80 ₹22.29 -80%
Flughafen Zürich AG FHZN CHF 237.20 CHF 121.30 -49%
Shanghai International Airport Co 600009 ¥24.08 ¥17.09 -29%
Auckland International Airport Limited AIA A$7.11 A$2.80 -61%
Fraport AG FRA €69.35 €49.83 -28%
Københavns Lufthavne A/S KBHL kr 5,660 kr 1,821 -68%
SATS Ltd S58 4.82 SGD 4.03 SGD -16%

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Frequently asked questions

Is Japan Airport Terminal Co (JTTRY) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of $21.67 versus a price of $18.20, about +19% (undervalued).
What is the fair value of JTTRY?
Our model-based fair value for Japan Airport Terminal Co is $21.67 (as of Jul 17, 2026), built from audited fundamentals. The current price is $18.20.
What is the quality score of JTTRY?
Japan Airport Terminal Co has a Quality Score of 61/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Japan Airport Terminal Co (JTTRY)?
Japan Airport Terminal Co reported trailing-twelve-month revenue of about $290B (latest available figure, as of Jul 17, 2026).
What is the net profit margin of JTTRY?
The net profit margin of Japan Airport Terminal Co is about 10.1%, meaning it keeps roughly 10.1% of revenue as net income. Based on the latest reported figures.
Does Japan Airport Terminal Co pay a dividend?
Japan Airport Terminal Co currently shows a dividend yield of about 2.12% relative to its recent price (as of Jul 17, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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