Mitsui O.S.K. Lines, Ltd. (9104.T) stock analysis

In our weekly check, Mitsui O.S.K. Lines, Ltd. is graded D (A to F). Of 25 checks on debt, profit, cash flow and trend: 12 pass, warnings: 4, red flags: 9.

About Mitsui O.S.K. Lines, Ltd.

Mitsui O.S.K. Lines, Ltd. is an Industrials company (Marine Shipping) based in Japan, listed on JPX as 9104.T.

What our checks show for 9104.T

Red flags

• Net debt is 5x a year of EBITDA (debt/equity 0.87). That limits room in a downturn and raises refinancing risk.
• Operating profit does not cover the interest bill (0x): interest is paid from cash or new debt.
• The net margin fell by 44.2 points over 5 years, to 11.7%: the company keeps less of each sale as profit.
• Free cash flow is negative (-4.8% of revenue): the business spends more cash than it brings in.
• The dividend takes 6803% of profit: little cushion if profit falls.
• The stock has fallen as much as 92% from a peak. Would you have held through that?
• Recovering from its deepest fall took about 5.7 years.
• Return on capital (ROCE) is only 2.3%.
• Pay in shares equals 0% of free cash flow: it dilutes shareholders.

Warning signs

• Analysts expect the net margin to shrink by 2.8 points from today's 11.7%.
• Revenue grew only 4.2% a year over the last 3 years.
• Earnings per share fell 34.5% a year over the last 3 years.
• Net profit fell 35.5% a year over the last 3 years.

Strengths

• The gross margin is 17.9% and has risen by 6 points: pricing power is holding.
• Operating cash flow is 2.11x net profit: the profit arrives as real cash.
• The price is 11.2 times earnings (P/E), reasonable for its growth.
• A large company: market value $15.79 billion.
• Beta 0.7: the stock usually moves less than the market.
• Actively traded: about 3 million shares a day.

Next earnings report: 2026-11-09

Similar companies

9101.T · ADANIPORTS.NS · 2603.TW · MAERSK-B.CO

Questions

What grade does Mitsui O.S.K. Lines, Ltd. (9104.T) have?

In our weekly check, Mitsui O.S.K. Lines, Ltd. is graded D (A to F). Of 25 checks on debt, profit, cash flow and trend: 12 pass, warnings: 4, red flags: 9. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of 9104.T stock?

This week's biggest flags for Mitsui O.S.K. Lines, Ltd.: High debt, Weak interest cover, Margins falling. In total 13 of 25 checks show a warning or a red flag.

What does Mitsui O.S.K. Lines, Ltd. do?

Mitsui O.S.K. Lines, Ltd. is an Industrials company (Marine Shipping) based in Japan, listed on JPX as 9104.T.

When does Mitsui O.S.K. Lines, Ltd. report earnings next?

The next earnings report is expected on 2026-11-09. We re-run the checks every week, so the grade can change after it.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-24

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