TYO/8960 (TYO/8960)

Tokyo Stock Exchange: TYO/8960 · JPY

¥150,900

-2003.03 (-1.3%)· Recorded snapshot

Market cap	482.9B
Revenue (ttm)	59B
Net income (ttm)	26.9B
EPS (ttm)	¥8,594
Shares out	3.2M
P/E (trailing)	17.6x
Dividend	¥9,140 (6.06%)
Volume	5,615
Beta	0.06

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 59B
Net income (ttm): 26.9B
EPS (ttm): ¥8,594
P/E (trailing): 17.6x
Market cap: 482.9B

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/En/a

P25 n/aP50 n/aP75 n/a

Trailing P/E17.6

P25 n/aP50 n/aP75 n/a

ROE7.2

P25 n/aP50 n/aP75 n/a

ROIC4.2

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

S&P 500+0.8%

Nasdaq Composite-1.0%

Dow Jones Industrial Average+1.9%

Russell 2000+0.3%

All TYO/8960 indicators

Market & fundamental data

Available fields

219

Groups with data

Currency

JPY

Showing 219 of 219 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	JPY
Country	Japan
Country code	JP
Earnings date	2026-10-29
Enterprise value	JPY 794B
Exchange	Tokyo Stock Exchange
Financial currency	JPY
Financial report date	2026-05-31
First seen	2026-05-10
Fiscal year end	November
Founded	2003
Industry	REIT - Diversified
Is primary listing	Yes
ISIN number	JP3045540006
Last earnings date	2026-07-15
Last refreshed	2026-10-28
Last stock split date	2010-11-26
Last stock split type	Forward
Market cap	JPY 482.9B
Next earnings date	2026-10-29
Price	JPY 150,900.00
Price currency	JPY
Sector	Real Estate
SIC code	6798
Stock price date	2026-10-28
Symbol	tyo/8960
Website	https://www.united-reit.co.jp

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Average P/E ratio (10Y)	23.23x
Average P/E ratio (3Y)	20.81x
Average P/E ratio (5Y)	22.53x
Earnings yield	5.69%
EV/Earnings	29.51x
EV/EBIT	26.45x
EV/EBITDA	21.02x
EV/Sales	13.45x
Graham number	152343.07675
Graham upside	0.96%
Industry P/E	17.96x
Lynch fair value	JPY 57,175.73
Lynch upside	-62.11%
P/B ratio	1.26x
P/E ratio	17.56x
P/OCF ratio	16.42x
P/S ratio	8.18x
Price / tangible book value	1.29x
Price/EBITDA ratio	12.78x
Sector P/E	13.61x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	50.86%
EBITDA margin	64%
Effective tax rate	0%
Gross margin	52.07%
Operating margin	50.86%
Pretax margin	45.59%
Profit margin	45.59%
Profitable quarters	35
Profitable years	22
ROA	2.51%
ROA (5Y)	2.02%
ROCE	4.27%
ROE	7.25%
ROE (5Y)	5.8%
ROIC	4.15%
ROIC (5Y)	3.44%
Tax / revenue	0%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	7.96%
EPS growth (Q)	18.25%
EPS growth (QoQ)	13.88%
EPS growth 10Y	3.23%
EPS growth 3Y	11.27%
EPS growth 5Y	6.57%
EPS growth quarters	1
EPS growth years	4
Net income growth	9.75%
Net income growth (Q)	23.51%
Net income growth (QoQ)	18.97%
Net income growth 3Y	11.15%
Net income growth 5Y	6.65%
Net income growth quarters	1
Net income growth years	4
OCF growth	-1.8%
OCF growth (Q)	-10.07%
OCF growth (QoQ)	-14.86%
OCF growth 10Y	2.12%
OCF growth 3Y	3.6%
OCF growth 5Y	5.23%
Revenue growth	6.17%
Revenue growth (Q)	12.64%
Revenue growth (QoQ)	9.44%
Revenue growth 10Y	3.58%
Revenue growth 3Y	6.05%
Revenue growth 5Y	4.16%
Revenue growth quarters	5
Revenue growth years	4

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
EBIT	JPY 30B
EBITDA	JPY 37.8B
EPS	JPY 8,593.56
Financing cash flow	JPY 4.7B
Gross profit	JPY 30.7B
Income taxes	JPY 1.2M
Investing cash flow	JPY -35.8B
Net cash flow	JPY -1.7B
Net income	JPY 26.9B
Operating income	JPY 30B
Revenue	JPY 59B

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Book value per share	JPY 120,029.95
Debt / EBITDA	8.97
Debt / equity	0.88
Interest coverage	9.56
Net cash (debt)	JPY -311.1B
Net cash / market cap	-64.43%
Net debt / EBITDA	8.24
Net debt / equity	0.81
Piotroski F-Score	4
Property, plant and equipment	JPY 691.3B
Shareholders' equity	JPY 384.1B
Tangible book value	JPY 374.5B
Tangible book value per share	JPY 117,020.83
Total assets	JPY 763B
Total cash	JPY 27.8B
Total debt	JPY 339B
Total liabilities	JPY 378.9B
WACC	3.09%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.08
Current ratio	0.97
Net working capital	JPY 21.7B
Quick ratio	0.49
Working capital	JPY -1.9B

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-1.65%
Dividend growth	13.25%
Dividend growth (10Y)	4.39%
Dividend growth (3Y)	11.84%
Dividend growth (5Y)	8%
Dividend growth years	3
Dividend payment date	2027-02-16
Dividend payment years	23
Dividend payout frequency	Semi-Annual
Dividend per share	JPY 9,140.00
Dividend yield	6.06%
Ex-dividend date	2026-11-27
Last dividend	JPY 4,640.00
Payout ratio	92.78%
Shareholder yield	4.4%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	-14.75%
10Y return CAGR	2.92%
10Y total return	33.28%
150-day SMA	JPY 163,261.33
15Y price change	68.23%
15Y return CAGR	8.19%
15Y total return	225.7%
1D price change	-1.31%
1M price change	-2.01%
1M total return	-2.01%
1Y price change	-19.9%
1Y return CAGR	-15.78%
1Y total return	-15.77%
20-day SMA	JPY 151,170.00
200-day SMA	JPY 168,249.00
20Y price change	29.71%
20Y return CAGR	6.3%
20Y total return	239.1%
3M price change	-9.31%
3M total return	-9.31%
3Y price change	-1.18%
3Y return CAGR	4.83%
3Y total return	15.19%
50-day SMA	JPY 155,618.00
50-day SMA vs 200-day SMA	50under200
52-week high	JPY 191,700.00
52-week high date	2026-01-19
52-week low	JPY 148,100.00
52-week low date	2026-10-06
5Y price change	5.16%
5Y return CAGR	5.93%
5Y total return	33.39%
6M price change	-15.41%
6M total return	-13.01%
All-time high	JPY 223,700.00
All-time high date	2019-11-05
All-time low	JPY 41,850.00
All-time low date	2008-10-28
Average true range (ATR)	JPY 1,854.02
Average volume	7.8K
Beta (1Y)	0.17
Beta (2Y)	0.2
Beta (5Y)	0.06
Change from 52-week high	-21.28%
Change from 52-week low	1.89%
Change from all-time high	-32.54%
Change from all-time low	260.57%
Change from open	-1.31%
Day's gap	0%
Dollar volume	JPY 847.3M
High price	JPY 152,900.00
Low price	JPY 150,700.00
Monthly RSI	41.78
Open price	JPY 152,900.00
Position in 52-week range	9.09%
Previous close	JPY 152,900.00
Price vs 150-day SMA	-7.57%
Price vs 20-day SMA	-0.18%
Price vs 200-day SMA	-10.31%
Price vs 50-day SMA	-3.03%
Relative volume	0.72
RSI	43.26
Sharpe ratio	-1.05
Sharpe ratio (3Y)	0.05
Sharpe ratio (5Y)	0.1
Sortino ratio	-1.02
Sortino ratio (3Y)	0.45
Sortino ratio (5Y)	0.47
Volume	5.6K
Weekly RSI	32.61
YTD price change	-17.54%
YTD total return	-15.19%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	3.1M
Shares change (QoQ)	4.46%
Shares change (YoY)	1.65%
Shares held by institutions	60.46%
Shares outstanding	3.2M

Deeper analysis on TYO/8960

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

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Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

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Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

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Moat

Economic-profit evidence and competitive advantage risk.

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Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Scorecard

Six-factor overlay and 9-category weighted scorecard.

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Recommendation

Final action, action steps, opportunity, and biggest risk.

→

Perspectives

Growth, value, and income investor reads.

→

Frequently asked questions

About this TYO/8960 report

Is a complete TYO/8960 research report available?

No complete published report is available for tyo/8960 (TYO/8960) on this page. Market-directory data, when present, is not a substitute for a validated stock analysis.

Market cap

482.9B

Revenue (ttm)

59B

Net income (ttm)

26.9B

EPS (ttm)

¥8,594

Shares out

3.2M

P/E (trailing)

17.6x

Dividend

¥9,140 (6.06%)

Volume

5,615

Beta

0.06

Metric

Value

Amount currency

JPY

Country

Japan

Country code

Earnings date

2026-10-29

Enterprise value

JPY 794B

Exchange

Tokyo Stock Exchange

Financial currency

JPY

Financial report date

2026-05-31

First seen

2026-05-10

Fiscal year end

November

Founded

2003

Industry

REIT - Diversified

Is primary listing

Yes

ISIN number

JP3045540006

Last earnings date

2026-07-15

Last refreshed

2026-10-28

Last stock split date

2010-11-26

Last stock split type

Forward

Market cap

JPY 482.9B

Next earnings date

2026-10-29

Price

JPY 150,900.00

Price currency

JPY

Sector

Real Estate

SIC code

6798

Stock price date

2026-10-28

Symbol

tyo/8960

Website

https://www.united-reit.co.jp

Metric

Value

Average P/E ratio (10Y)

23.23x

Average P/E ratio (3Y)

20.81x

Average P/E ratio (5Y)

22.53x

Earnings yield

5.69%

EV/Earnings

29.51x

EV/EBIT

26.45x

EV/EBITDA

21.02x

EV/Sales

13.45x

Graham number

152343.07675

Graham upside

0.96%

Industry P/E

17.96x

Lynch fair value

JPY 57,175.73

Lynch upside

-62.11%

P/B ratio

1.26x

P/E ratio

17.56x

P/OCF ratio

16.42x

P/S ratio

8.18x

Price / tangible book value

1.29x

Price/EBITDA ratio

12.78x

Sector P/E

13.61x

Metric

Value

EBIT margin

50.86%

EBITDA margin

64%

Effective tax rate

Gross margin

52.07%

Operating margin

50.86%

Pretax margin

45.59%

Profit margin

45.59%

Profitable quarters

Profitable years

ROA

2.51%

ROA (5Y)

2.02%

ROCE

4.27%

ROE

7.25%

ROE (5Y)

5.8%

ROIC

4.15%

ROIC (5Y)

3.44%

Tax / revenue

Metric

Value

EPS growth

7.96%

EPS growth (Q)

18.25%

EPS growth (QoQ)

13.88%

EPS growth 10Y

3.23%

EPS growth 3Y

11.27%

EPS growth 5Y

6.57%

EPS growth quarters

EPS growth years

Net income growth

9.75%

Net income growth (Q)

23.51%

Net income growth (QoQ)

18.97%

Net income growth 3Y

11.15%

Net income growth 5Y

6.65%

Net income growth quarters

Net income growth years

OCF growth

-1.8%

OCF growth (Q)

-10.07%

OCF growth (QoQ)

-14.86%

OCF growth 10Y

2.12%

OCF growth 3Y

3.6%

OCF growth 5Y

5.23%

Revenue growth

6.17%

Revenue growth (Q)

12.64%

Revenue growth (QoQ)

9.44%

Revenue growth 10Y

3.58%

Revenue growth 3Y

6.05%

Revenue growth 5Y

4.16%

Revenue growth quarters

Revenue growth years

Metric

Value

EBIT

JPY 30B

EBITDA

JPY 37.8B

EPS

JPY 8,593.56

Financing cash flow

JPY 4.7B

Gross profit

JPY 30.7B

Income taxes

JPY 1.2M

Investing cash flow

JPY -35.8B

Net cash flow

JPY -1.7B

Net income

JPY 26.9B

Operating income

JPY 30B

Revenue

JPY 59B

Metric

Value

Book value per share

JPY 120,029.95

Debt / EBITDA

8.97

Debt / equity

0.88

Interest coverage

9.56

Net cash (debt)

JPY -311.1B

Net cash / market cap

-64.43%

Net debt / EBITDA

8.24

Net debt / equity

0.81

Piotroski F-Score

Property, plant and equipment

JPY 691.3B

Shareholders' equity

JPY 384.1B

Tangible book value

JPY 374.5B

Tangible book value per share

JPY 117,020.83

Total assets

JPY 763B

Total cash

JPY 27.8B

Total debt

JPY 339B

Total liabilities

JPY 378.9B

WACC

3.09%

Metric

Value

Asset turnover

0.08

Current ratio

0.97

Net working capital

JPY 21.7B

Quick ratio

0.49

Working capital

JPY -1.9B

Metric

Value

Buyback yield / dilution

-1.65%

Dividend growth

13.25%

Dividend growth (10Y)

4.39%

Dividend growth (3Y)

11.84%

Dividend growth (5Y)

Dividend growth years

Dividend payment date

2027-02-16

Dividend payment years

Dividend payout frequency

Semi-Annual

Dividend per share

JPY 9,140.00

Dividend yield

6.06%

Ex-dividend date

2026-11-27

Last dividend

JPY 4,640.00

Payout ratio

92.78%

Shareholder yield

4.4%

Metric

Value

10Y price change

-14.75%

10Y return CAGR

2.92%

10Y total return

33.28%

150-day SMA

JPY 163,261.33

15Y price change

68.23%

15Y return CAGR

8.19%

15Y total return

225.7%

1D price change

-1.31%

1M price change

-2.01%

1M total return

-2.01%

1Y price change

-19.9%

1Y return CAGR

-15.78%

1Y total return

-15.77%

20-day SMA

JPY 151,170.00

200-day SMA

JPY 168,249.00

20Y price change

29.71%

20Y return CAGR

6.3%

20Y total return

239.1%

3M price change

-9.31%

3M total return

-9.31%

3Y price change

-1.18%

3Y return CAGR

4.83%

3Y total return

15.19%

50-day SMA

JPY 155,618.00

50-day SMA vs 200-day SMA

50under200

52-week high

JPY 191,700.00

52-week high date

2026-01-19

52-week low

JPY 148,100.00

52-week low date

2026-10-06

5Y price change

5.16%

5Y return CAGR

5.93%

5Y total return

33.39%

6M price change

-15.41%

6M total return

-13.01%

All-time high

JPY 223,700.00

All-time high date

2019-11-05

All-time low

JPY 41,850.00

All-time low date

2008-10-28

Average true range (ATR)

JPY 1,854.02

Average volume

7.8K

Beta (1Y)

0.17

Beta (2Y)

0.2

Beta (5Y)

0.06

Change from 52-week high

-21.28%

Change from 52-week low

1.89%

Change from all-time high

-32.54%

Change from all-time low

260.57%

Change from open

-1.31%

Day's gap

Dollar volume

JPY 847.3M

High price

JPY 152,900.00

Low price

JPY 150,700.00

Monthly RSI

41.78

Open price

JPY 152,900.00

Position in 52-week range

9.09%

Previous close

JPY 152,900.00

Price vs 150-day SMA

-7.57%

Price vs 20-day SMA

-0.18%

Price vs 200-day SMA

-10.31%

Price vs 50-day SMA

-3.03%

Relative volume

0.72

RSI

43.26

Sharpe ratio

-1.05

Sharpe ratio (3Y)

0.05

Sharpe ratio (5Y)

0.1

Sortino ratio

-1.02

Sortino ratio (3Y)

0.45

Sortino ratio (5Y)

0.47

Volume

5.6K

Weekly RSI

32.61

YTD price change

-17.54%

YTD total return

-15.19%

Metric

Value

Float

3.1M

Shares change (QoQ)

4.46%

Shares change (YoY)

1.65%

Shares held by institutions

60.46%

Shares outstanding

3.2M

TYO/8960 (TYO/8960)

Price

Financial snapshot

Fair-value bridge

Latest news · TYO/8960

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All TYO/8960 indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on TYO/8960

Frequently asked questions

TYO/8960 (TYO/8960)

Price

Financial snapshot

Fair-value bridge

Latest news · TYO/8960

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All TYO/8960 indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on TYO/8960

Frequently asked questions