Keihan Holdings (KHNRF) Fair Value & Analysis
Industrials · US · Market cap $2.1B
Keihan Holdings
KHNRF · US
Fair value as of: Jul 26, 2026
From 9 valuation models · updated 15 days ago
Fair value updated Jul 26, 2026, revised from $29.53 to $29.05 (−1.6%) since Jun 26, 2026.
A solid business, screening 40% undervalued on our models.
What matters now
- The price is below even our cautious bear case ($21.79). The market is more pessimistic than our downside scenario.
- Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (2 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.
How to read this chart
27‑month range $19.89 – $20.75 · fair‑value band $21.79 – $36.31 · the $20.75 price screens below the $29.05 fair value. Dashed = 300-day average. As of Jul 26, 2026.
Analysis
Keihan Holdings (KHNRF) currently trades at $20.75, while our model-based Fair Value estimate is $29.05, implying the stock looks roughly 40.0% undervalued today. The Quality Score stands at 62/100 (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, Keihan Holdings generated revenue of $332B at a net margin of 10.1%. Revenue grew 34.2% year over year. It earns a return on equity of 10.5%. Net debt stands at $357B. Fundamentals as of Jul 26, 2026
Our scenario range runs from $21.79 (bear case) to $36.31 (bull case); at $20.75, the current price sits below 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 3% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -14% fair-value upside, at 40%, KHNRF 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.
All 9 models by family
Widest divergence: Multiples ($4,762) versus Asset-Based ($2,088). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 26, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 59 · Market factors (momentum, volatility) 66
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
Keihan Holdings Co., Ltd. engages in the transportation and various other businesses in Japan. It operates through Transportation, Real Estate Business, Distribution Industry, Leisure Service Industry, and Other Business segments. The Transportation segment is involved in railroad and bus operations.
Full company description
Keihan Holdings Co., Ltd. engages in the transportation and various other businesses in Japan. It operates through Transportation, Real Estate Business, Distribution Industry, Leisure Service Industry, and Other Business segments. The Transportation segment is involved in railroad and bus operations. The Real Estate Business segment engages in the sale and lease of real estate, and wholesale of building materials. The Distribution Industry segment manages department stores, retail stores, and shopping malls. The Leisure Service Industry segment engages in hotels and sightseeing boats businesses. The Other Business segment is involved in sustainability business. The company was formerly known as Keihan Electric Railway Co., Ltd. Keihan Holdings Co., Ltd. was founded in 1906 and is headquartered in Osaka, Japan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Keihan Holdings reported revenue of $314B in FY2025 versus $253B in FY2021, a compound +5.5%/yr. Reported net income was $28.3B in FY2025.
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Peer Group
Conglomerates · 370 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.
Valuation Multiples vs Conglomerates median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Conglomerates stocks, each showing price versus our Fair Value estimate (as of Jul 26, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| CITIC Limited 0267 | HK$11.28 | HK$22.56 | +100% |
| SK Inc 034730 | 580,000 KRW | 497,919 KRW | -14% |
| PT Astra International Tbk, ASII | 4,810 IDR | 9,620 IDR | +100% |
| The Siam Cement Public Company SCC | 254.00 THB | 199.40 THB | -21% |
| SRF Limited SRF | ₹2,875 | ₹1,053 | -63% |
| Empresas Copec S.A COPEC | 6,330 CLP | 10,879 CLP | +72% |
| Posco International Corporation 047050 | 50,900 KRW | 61,248 KRW | +20% |
| Tube Investments of India Limited TIINDIA | ₹2,940 | ₹559.30 | -81% |
| Doosan Corporation 000155 | 464,000 KRW | 75,620 KRW | -84% |
| Thermax Limited THERMAX | ₹4,809 | ₹1,087 | -77% |
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Frequently asked questions
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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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