上場鉄道会社24社の2025年度決算を比較する(各社の決算短信*1による)。コロナ直前の2019年度、大きく落ち込んだ2020年度と直近の2年の数字を比較した(単位:百万円)。全社が黒字決算だが、広島電鉄の運輸部門は営業利益が赤字。西武の売上高は、2024年度の不動産部門の特殊要因がなくなり元に戻った。
| 年度 | 売上高 | 営業利益 | 純利益 | 運輸部門 | 構成比 | △2019 | 運輸営業利益 | 利益率 | |
|---|---|---|---|---|---|---|---|---|---|
| JR東日本 | 2019 | 2,946,639 | 380,841 | 198,428 | 1,994,522 | 67.7% | 250,575 | 12.6% | |
| 2020 | 1,764,584 | -520,358 | -577,900 | 1,095,730 | 62.1% | -45.1% | -532,369 | -48.6% | |
| 2024 | 2,887,553 | 376,786 | 224,285 | 1,945,788 | 67.4% | -2.4% | 176,091 | 9.0% | |
| 2025 | 3,084,679 | 414,258 | 247,846 | 2,045,840 | 66.3% | 2.6% | 194,414 | 9.5% | |
| JR東海 | 2019 | 1,844,647 | 656,163 | 397,881 | 1,419,006 | 76.9% | 617,643 | 43.5% | |
| 2020 | 823,517 | -184,751 | -201,554 | 523,346 | 63.6% | -63.1% | -183,328 | -35.0% | |
| 2024 | 1,831,847 | 702,794 | 458,423 | 1,490,531 | 81.4% | 5.0% | 649,747 | 43.6% | |
| 2025 | 2,006,218 | 830,167 | 552,871 | 1,641,663 | 81.8% | 15.7% | 767,472 | 46.7% | |
| JR西日本 | 2019 | 1,508,201 | 160,628 | 89,380 | 933,416 | 61.9% | 105,313 | 11.3% | |
| 2020 | 920,046 | -245,507 | -233,166 | 469,736 | 51.1% | -49.7% | -252,168 | -53.7% | |
| 2024 | 1,707,944 | 180,161 | 113,958 | 1,046,794 | 61.3% | 12.1% | 122,508 | 11.7% | |
| 2025 | 1,845,840 | 198,081 | 127,499 | 1,105,693 | 59.9% | 18.5% | 130,920 | 11.8% | |
| JR九州 | 2019 | 432,644 | 49,406 | 31,495 | 166,266 | 38.4% | 19,848 | 11.9% | |
| 2020 | 293,914 | -22,873 | -18,984 | 88,656 | 30.2% | -46.7% | -37,629 | -42.4% | |
| 2024 | 454,393 | 58,976 | 43,657 | 164,347 | 36.2% | -1.2% | 12,186 | 7.4% | |
| 2025 | 500,393 | 74,040 | 45,468 | 185,724 | 37.1% | 11.7% | 23,976 | 12.9% | |
| 東武鉄道 | 2019 | 653,874 | 62,653 | 35,530 | 211,801 | 32.4% | 37,659 | 17.8% | |
| 2020 | 496,326 | -13,577 | -24,965 | 155,122 | 31.3% | -26.8% | -5,224 | -3.4% | |
| 2024 | 631,461 | 74,604 | 51,330 | 212,313 | 33.6% | 0.2% | 31,285 | 14.7% | |
| 2025 | 655,435 | 71,861 | 55,620 | 216,011 | 33.0% | 2.0% | 2,634 | 1.2% | |
| 西武HD | 2019 | 554,590 | 56,823 | 4,670 | 160,259 | 28.9% | 22,829 | 14.2% | |
| 2020 | 337,061 | -51,587 | -72,301 | 115,346 | 34.2% | -28.0% | -9,817 | -8.5% | |
| 2024 | 901,131 | 292,735 | 258,182 | 146,461 | 16.3% | -8.6% | 11,315 | 7.7% | |
| 2025 | 513,286 | 45,522 | 38,857 | 150,461 | 29.3% | -6.1% | 6,285 | 4.2% | |
| 京成電鉄 | 2019 | 274,796 | 28,320 | 30,110 | 160,449 | 58.4% | 39.1% | 17,921 | 11.2% |
| 2020 | 207,761 | -18,056 | -30,289 | 104,216 | 50.2% | -15.7% | -25,677 | -24.6% | |
| 2024 | 319,314 | 36,008 | 69,961 | 197,861 | 62.0% | 31.5% | 20,939 | 10.6% | |
| 2025 | 332,424 | 33,974 | 48,023 | 205,095 | 61.7% | 27.8% | 17,586 | 8.6% | |
| 京王電鉄 | 2019 | 433,669 | 36,024 | 17,875 | 127,391 | 29.4% | 22.2% | 13,345 | 10.5% |
| 2020 | 315,439 | -20,866 | -27,519 | 86,506 | 27.4% | -26.1% | -16,413 | -19.0% | |
| 2024 | 452,916 | 54,148 | 42,857 | 129,183 | 28.5% | 1.4% | 15,694 | 12.1% | |
| 2025 | 496,939 | 52,322 | 42,929 | 132,281 | 26.6% | 3.8% | 13,254 | 10.0% | |
| 小田急電鉄 | 2019 | 534,132 | 41,103 | 19,923 | 170,422 | 31.9% | 21,641 | 12.7% | |
| 2020 | 385,978 | -24,190 | -39,804 | 114,043 | 29.5% | -33.1% | -25,937 | -22.7% | |
| 2024 | 422,700 | 51,431 | 51,958 | 172,485 | 40.8% | 1.2% | 26,495 | 15.4% | |
| 2025 | 418,732 | 52,659 | 37,368 | 178,787 | 42.7% | 4.9% | 29,517 | 16.5% | |
| 東急 | 2019 | 1,164,243 | 68,760 | 42,386 | 211,048 | 18.1% | 27,018 | 12.8% | |
| 2020 | 935,927 | -31,658 | -56,229 | 148,551 | 15.9% | -29.6% | -26,014 | -17.5% | |
| 2024 | 1,054,981 | 103,485 | 79,677 | 216,846 | 20.6% | 2.7% | 28,993 | 13.4% | |
| 2025 | 1,086,179 | 103,193 | 87,071 | 223,130 | 20.5% | 5.7% | 27,341 | 12.3% | |
| 京浜急行電鉄 | 2019 | 312,751 | 29,489 | 15,650 | 118,888 | 38.0% | 12,875 | 10.8% | |
| 2020 | 234,964 | -18,420 | -27,211 | 76,737 | 32.7% | -35.5% | -21,434 | -27.9% | |
| 2024 | 293,860 | 35,642 | 24,301 | 117,099 | 39.8% | -1.5% | 18,877 | 16.1% | |
| 2025 | 304,192 | 33,553 | 27,492 | 120,587 | 39.6% | 1.4% | 18,683 | 15.5% | |
| 東京地下鉄 | 2019 | 433,147 | 83,917 | 51,391 | 380,998 | 88.0% | 70,999 | 18.6% | |
| 2020 | 295,729 | -40,299 | -52,927 | 253,393 | 85.7% | -33.5% | -50,791 | -20.0% | |
| 2024 | 407,832 | 86,942 | 53,748 | 370,539 | 90.9% | -2.7% | 74,161 | 20.0% | |
| 2025 | 422,414 | 89,588 | 59,015 | 384,108 | 90.9% | 0.8% | 76,189 | 19.8% | |
| 相鉄HD | 2019 | 265,100 | 26,423 | 14,631 | 39,283 | 14.8% | 5,844 | 14.9% | |
| 2020 | 221,136 | -3,148 | -13,057 | 29,769 | 13.5% | -24.2% | -3,899 | -13.1% | |
| 2024 | 292,178 | 37,820 | 22,407 | 42,890 | 14.7% | 9.2% | 4,912 | 11.5% | |
| 2025 | 307,572 | 38,833 | 24,848 | 44,375 | 14.4% | 13.0% | 5,727 | 12.9% | |
| 名古屋鉄道 | 2019 | 622,916 | 47,363 | 28,879 | 161,214 | 25.9% | 21,577 | 13.4% | |
| 2020 | 481,645 | -16,354 | -28,769 | 104,995 | 21.8% | -34.9% | -17,866 | -17.0% | |
| 2024 | 690,720 | 42,076 | 37,733 | 156,942 | 22.7% | -2.6% | 19,602 | 12.5% | |
| 2025 | 691,583 | 36,185 | 22,954 | 175,331 | 25.4% | 8.8% | 21,803 | 12.4% | |
| 近鉄GHD | 2019 | 1,194,244 | 49,380 | 20,561 | 214,740 | 18.0% | 27,686 | 12.9% | |
| 2020 | 697,203 | -62,115 | -60,187 | 145,154 | 20.8% | -32.4% | -24,670 | -17.0% | |
| 2024 | 1,741,787 | 84,399 | 46,716 | 214,464 | 12.3% | -0.1% | 34,664 | 16.2% | |
| 2025 | 1,750,307 | 89,436 | 53,771 | 223,270 | 12.8% | 4.0% | 38,064 | 17.0% | |
| 南海電気鉄道 | 2019 | 228,015 | 35,223 | 20,811 | 99,494 | 43.6% | 12,953 | 13.0% | |
| 2020 | 190,813 | 5,552 | -1,861 | 65,446 | 34.3% | -34.2% | -13,599 | -20.8% | |
| 2024 | 260,787 | 34,655 | 22,496 | 111,531 | 42.8% | 12.1% | 1,207 | 1.1% | |
| 2025 | 264,714 | 39,945 | 25,135 | 115,953 | 43.8% | 16.5% | 14,908 | 12.9% | |
| 京阪HD | 2019 | 317,103 | 31,123 | 20,121 | 91,157 | 28.7% | 10,862 | 11.9% | |
| 2020 | 253,419 | -1,265 | -4,574 | 63,910 | 25.2% | -29.9% | -9,658 | -15.1% | |
| 2024 | 313,546 | 42,071 | 28,266 | 89,288 | 28.5% | -2.1% | 12,323 | 13.8% | |
| 2025 | 332,471 | 49,152 | 33,581 | 95,173 | 28.6% | 4.4% | 13,977 | 14.7% | |
| 阪急阪神HD | 2019 | 762,650 | 95,170 | 54,859 | 222,478 | 29.2% | 40,056 | 18.0% | |
| 2020 | 568,900 | 2,066 | -36,702 | 152,355 | 26.8% | -31.5% | -5,108 | -3.4% | |
| 2024 | 1,106,854 | 110,879 | 67,386 | 204,349 | 18.5% | -8.1% | 35,023 | 17.1% | |
| 2025 | 1,203,506 | 127,136 | 78,538 | 209,018 | 17.4% | -6.1% | 35,298 | 16.9% | |
| 西日本鉄道 | 2019 | 389,446 | 16,411 | 6,678 | 85,205 | 21.9% | 4,511 | 5.3% | |
| 2020 | 346,121 | -9,501 | -12,074 | 48,441 | 14.0% | -43.1% | -11,838 | -24.4% | |
| 2024 | 443,495 | 26,655 | 20,810 | 80,097 | 18.1% | -6.0% | 4,979 | 6.2% | |
| 2025 | 474,156 | 30,210 | 32,155 | 82,291 | 17.4% | -3.4% | 4,055 | 4.9% | |
| 富士急行 | 2019 | 52,290 | 4,492 | 1,581 | 19,516 | 37.3% | 1,993 | 10.2% | |
| 2020 | 30,451 | -3,098 | -2,786 | 8,254 | 27.1% | -57.7% | -2,981 | -36.1% | |
| 2024 | 52,230 | 8,313 | 5,107 | 19,642 | 37.6% | 0.6% | 4,698 | 23.9% | |
| 2025 | 53,517 | 8,761 | 5,798 | 20,418 | 38.2% | 4.6% | 5,054 | 24.8% | |
| 京福電鉄 | 2019 | 12,494 | 832 | 198 | 7,774 | 62.2% | 211 | 2.7% | |
| 2020 | 10,448 | -338 | -338 | 5,207 | 49.8% | -33.0% | -1,224 | -23.5% | |
| 2024 | 14,459 | 2,302 | 1,736 | 7,829 | 54.1% | 0.7% | 420 | 5.4% | |
| 2025 | 14,881 | 2,420 | 1,833 | 7,889 | 53.0% | 1.5% | 480 | 6.1% | |
| 神戸電鉄 | 2019 | 22,751 | 2,083 | 1,006 | 12,763 | 56.1% | 903 | 7.1% | |
| 2020 | 20,231 | 698 | 187 | 10,674 | 52.8% | -16.4% | -679 | -6.4% | |
| 2024 | 22,131 | 2,006 | 1,589 | 13,022 | 58.8% | 2.0% | 918 | 7.0% | |
| 2025 | 23,347 | 2,421 | 1,462 | 14,037 | 60.1% | 10.0% | 1,578 | 11.2% | |
| 山陽電気鉄道 | 2019 | 51,633 | 4,146 | 2,879 | 19,501 | 37.8% | 1,377 | 7.1% | |
| 2020 | 43,490 | 781 | 422 | 15,307 | 35.2% | -21.5% | -1,738 | -11.4% | |
| 2024 | 38,489 | 4,065 | 3,031 | 20,027 | 52.0% | 2.7% | 1,272 | 6.4% | |
| 2025 | 40,132 | 4,478 | 4,045 | 21,284 | 53.0% | 9.1% | 1,645 | 7.7% | |
| 広島電鉄 | 2019 | 32,910 | -309 | 629 | 21,713 | 66.0% | -1,682 | -7.7% | |
| 2020 | 25,409 | -6,057 | -3,291 | 14,733 | 58.0% | -32.1% | -7,174 | -48.7% | |
| 2024 | 33,709 | -1,419 | 1,379 | 20,988 | 62.3% | -3.3% | -3,110 | -14.8% | |
| 2025 | 37,470 | -290 | 1,158 | 23,227 | 62.0% | 7.0% | -2,739 | -11.8% |
運輸部門売上高が2019年度に達していないのは、西武、阪急阪神及び西鉄の3社だけになった。JR東日本、JR九州、京急、東京地下鉄、名鉄、近鉄、京阪、広島電鉄の8社は、2025年度はじめて2019年度を上回った。2026年3月実施のJR東日本以外の各社は、2023年から2025年にかけて運賃改定を実施している。
運輸部門売上高の構成比が50%を超えているのは、90%超の東京地下鉄を筆頭に9社。JR本州3社、中小私鉄4社が含まれ、大手私鉄ではほかに京成だけ。なおJR西日本は2023年度から従来の運輸業セグメントをモビリティ―業に拡大し、駅業務等運営業、車両等設備工事業などを含めた。JR東日本の鉄道車両製造事業も運輸事業に含まれている。
過去の決算記事は以下のページにある。
- 2021年度決算:2022年5月15日
- 2022年度決算:2023年6月4日
- 2023年度決算:2024年6月2日
- 2024年度決算:2025年5月26日
*1:2024年10月上場の東京地下鉄は、上場以前から決算短信とほぼ同じ内容の決算情報を開示しており、これによった