Japan Airport Terminal (JTTRY) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Japan Airport Terminal $22.02, price $17.45, upside +26.2%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Japan Airport Terminal ADR for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $11.98 – $31.14 · fair‑value band $12.99 – $27.52 · the $17.45 price screens below the $22.02 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Follow Japan Airport Terminal ADR in your weekly email
Every Wednesday you see whether Japan Airport Terminal ADR is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
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.
Show more
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.
Stock analysis
Japan Airport Terminal ADR (JTTRY) currently trades at $17.45, while our model-based Fair Value estimate is $22.02, implying the stock looks roughly 20.8% undervalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of $23.35 per share, and 16 of the 24 models we run sit above the $17.45 price.
Bear case: the Asset-Based group reads lowest at $4.80, and 8 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: $12.99 (bear) to $27.52 (bull), the price of $17.45 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 61/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Japan Airport Terminal ADR reported revenue of ¥307B in FY2026 versus ¥57.1B in FY2022, a compound +52.3%/yr. Reported net income was ¥30.9B in FY2026.
Key figures
Market cap $3.2B · P/E ratio 17.8 · P/S ratio 1.79 · EPS (TTM) $0.9800 · Dividend yield 2.1% · Net margin 10.1% · Return on equity 17.6% · Return on assets (EBIT) 2.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 25% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −13% fair-value upside, at 26%, JTTRY screens cheaper than that median.
Fair Value models
Bear $12.99Fair Value $22.02Bull $27.52
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+13.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+39.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+42.4%
Start year 2021 (pandemic). Over 10 years: +4.2% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.9%
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
’26
What shareholders gained per year (last 5 years), in JPY ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in JPY: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+63.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+60.9%
Dividend (yield on the price)2.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.61% vs 23%, picking up
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−112% → 16%
Start year 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+6.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in JPY, Japan: IMF forecast 2.1% a year to 2030, 1.3% from 2016 to 2025) that is about +4.2% a year for the price and +0.3% for the forecasts.
Compare Japan Airport Terminal ADR with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer Groupⓘ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.Airports & Air Services · 56 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score61 · Above median
Fair Value upside+26% · Above median
Profitability
Return on equity (TTM)18% · Above median
Return on assets6% · Above median
Net margin (TTM)10% · Below median
Operating margin (TTM)13% · Above median
Growth and dividend
Revenue growth6% · Above median
Dividend yield (TTM)2.1% · Below median
Balance sheet
Debt / equity0.91× · Highest 25%
Valuation Multiplesvs Airports & Air Services median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Japan Airport Terminal (JTTRY) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $22.02 versus a price of $17.45, about +26% upside (undervalued).
What is the fair value of JTTRY?
Our model-based fair value for Japan Airport Terminal ADR is $22.02 (as of Sep 24, 2026), built from audited fundamentals. The current price: $17.45.
What is the quality score of JTTRY?
Japan Airport Terminal ADR 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 price target for Japan Airport Terminal (JTTRY)?
Our model-based price target is the fair value of $22.02 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario $12.99, optimistic scenario $27.52. It is a calculation from audited fundamentals, not an analyst target.
What is the Japan Airport Terminal ADR stock forecast for 2026?
Our models put fair value at $22.02, about +26% upside versus a price of $17.45 (undervalued). Cautious scenario $12.99, optimistic scenario $27.52. The calculation is refreshed regularly with new filings.
What is the revenue of Japan Airport Terminal (JTTRY)?
Japan Airport Terminal ADR reported trailing-twelve-month revenue of about ¥290B (latest available figure, as of Sep 24, 2026).
Does Japan Airport Terminal ADR pay a dividend?
Japan Airport Terminal ADR currently shows a dividend yield of about 2.12% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Japan Airport Terminal (JTTRY)?
For today's price to be fair in a discounted-cash-flow model, Japan Airport Terminal ADR would have to grow free cash flow by +6.4 % per year for five years (discount rate 9.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +42.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of JTTRY use?
Our models discount Japan Airport Terminal ADR at 9.7 %: a base by market capitalisation (mid), country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Japan Airport Terminal ADR that is +6.4 % per year a year over ten years, using the same discount rate (9.7 %) and the same formula as our fair value.
How much growth has Japan Airport Terminal (JTTRY) delivered so far?
Over the past 5 years revenue at Japan Airport Terminal ADR grew +42.4 % a year. The price currently implies +6.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Japan Airport Terminal (JTTRY) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Japan Airport Terminal ADR (+6.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Japan Airport Terminal (JTTRY)?
The free-cash-flow yield on the price is 7.20 %: that much free cash flow Japan Airport Terminal ADR produces per unit of market value. When it exceeds the discount rate of our models (9.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Japan Airport Terminal (JTTRY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Japan Airport Terminal ADR it is $22.02 per share (as of Sep 24, 2026), against a price of $17.45. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Japan Airport Terminal ADR stock overvalued or undervalued in 2026?
As of Sep 24, 2026, JTTRY trades below its calculated fair value: price $17.45, fair value $22.02, a gap of about +26% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of JTTRY?
No. The price is what the market pays today ($17.45); the fair value is what the company's own numbers justify ($22.02). For Japan Airport Terminal ADR the two are $4.57 per share apart. That gap is exactly why we show both numbers side by side.
How much is Japan Airport Terminal ADR worth?
The market values Japan Airport Terminal ADR at about $3.2B (market capitalisation, as of Sep 24, 2026). Per share that is $17.45; our models calculate a fair value of $22.02 per share.
What do the bullish and bearish scenarios say about JTTRY?
Our models span a range for Japan Airport Terminal ADR: cautious scenario $12.99, base $22.02, optimistic $27.52 per share (as of Sep 24, 2026, price $17.45). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of JTTRY?
Japan Airport Terminal ADR trades at a price-to-earnings ratio of 17.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $22.02 is built from several models across several years. Other multiples: P/B 2.4, P/S 1.8, EV/EBITDA 8.1.
How solid is the balance sheet of Japan Airport Terminal (JTTRY)?
Balance-sheet figures for Japan Airport Terminal ADR (as of Sep 24, 2026): return on equity 17.6%, debt of 0.91 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is JTTRY from its 52-week high?
Japan Airport Terminal ADR trades at $17.45, about 5% below its 52-week high of $18.32 and 25% above the low of $13.96 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $22.02 is for.
Which stocks are comparable to Japan Airport Terminal ADR?
From the same area (Industrials) we also value Aena S.M.E., S.A, Airports of Thailand Public Company, Grupo Aeroportuario del Pacífico, S.A., GMR Airports Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Japan Airport Terminal ADR stock attractive at the current price?
The data as of Sep 24, 2026: price $17.45, calculated fair value $22.02 (+26%), Quality Score 61/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of JTTRY calculated?
We run Japan Airport Terminal ADR through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $22.02, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Japan Airport Terminal ADR currently trades 26 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Japan Airport Terminal (JTTRY)?
The closing price on Sep 23, 2026 was $17.45. Our model-based fair value is $22.02, about +26% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Japan Airport Terminal ADR right now?
Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($12.99 to $27.52) leaves room in how you read the outcome.
Where does the earnings growth of Japan Airport Terminal (JTTRY) come from?
Earnings per share at Japan Airport Terminal ADR grew +22.6 % a year from 2015 to 2026. Broken into its drivers: revenue per share +10.5 %, EBIT margin +12.0 %, tax rate +5.3 %, residual (interest, one-offs) −5.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Japan Airport Terminal ADR
How large is the market capitalisation of Japan Airport Terminal (JTTRY)?
The market capitalisation of Japan Airport Terminal ADR is $3.2B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Japan Airport Terminal (JTTRY)?
The price-to-sales ratio of Japan Airport Terminal ADR is 1.79 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Japan Airport Terminal (JTTRY)?
Earnings per share at Japan Airport Terminal ADR are $0.9800 (price ÷ EPS = P/E 17.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Japan Airport Terminal (JTTRY)?
The dividend yield of Japan Airport Terminal ADR is 2.1% (payout 37.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Japan Airport Terminal (JTTRY)?
The net margin of Japan Airport Terminal ADR is 10.1% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Japan Airport Terminal (JTTRY)?
The return on equity (ROE) of Japan Airport Terminal ADR is 17.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Japan Airport Terminal (JTTRY)?
On an EBIT basis the return on assets of Japan Airport Terminal ADR is 2.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Japan Airport Terminal (JTTRY)?
The operating margin of Japan Airport Terminal ADR is 13.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Japan Airport Terminal (JTTRY)?
Revenue at Japan Airport Terminal ADR is growing +6.3% versus a year earlier (3y avg +39.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Japan Airport Terminal (JTTRY)?
Earnings per share at Japan Airport Terminal ADR are growing −20.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Japan Airport Terminal (JTTRY) carry?
The net debt of Japan Airport Terminal ADR is ¥98.5B (fiscal year 2026, ≈ 2.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Japan Airport Terminal ADR in the live analysis
One click puts Japan Airport Terminal ADR on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
Broad data
Sep 24, 2026