Company Valuation: TOA Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 31,316 22,131 26,537 35,256 27,815 60,753
Change - -29.33% 19.91% 32.86% -21.11% 118.42%
Enterprise Value (EV) 1 16,660 7,134 13,443 21,930 11,830 34,734
Change - -57.18% 88.43% 63.13% -46.06% 193.61%
P/E 19.7x 15.1x 15.1x 18.7x 11.8x 16.5x
PBR 0.71x 0.49x 0.57x 0.76x 0.56x 1.04x
PEG - -1.95x 0.7x 1.3x 0.5x 0.5x
Capitalization / Revenue 0.77x 0.54x 0.59x 0.72x 0.55x 1.1x
EV / Revenue 0.41x 0.17x 0.3x 0.45x 0.23x 0.63x
EV / EBITDA 4.45x 2.02x 4.19x 4.75x 2.26x 5.32x
EV / EBIT 7.26x 3.3x 7.84x 7.24x 3.3x 7.46x
EV / FCF 12x 24.4x -6.28x 8.04x 3.49x 8.5x
FCF Yield 8.36% 4.1% -15.9% 12.4% 28.7% 11.8%
Dividend per Share 2 20 20 40 40 40 85
Rate of return 2.08% 2.94% 4.85% 3.41% 4.32% 4.85%
EPS 2 48.85 45.06 54.48 62.58 78.63 105.9
Distribution rate 40.9% 44.4% 73.4% 63.9% 50.9% 80.3%
Net sales 1 40,575 40,864 45,123 48,814 50,626 55,386
EBITDA 1 3,740 3,536 3,210 4,620 5,234 6,529
EBIT 1 2,295 2,161 1,714 3,029 3,590 4,657
Net income 1 1,596 1,466 1,765 1,997 2,364 3,313
Net Debt 1 -14,656 -14,997 -13,094 -13,326 -15,985 -26,019
Reference price 2 963.00 680.00 825.00 1,173.00 925.00 1,751.00
Nbr of stocks (in thousands) 32,519 32,546 32,166 30,056 30,070 34,696
Announcement Date 22/06/21 23/06/22 21/06/23 26/06/24 24/06/25 23/06/26
1JPY in Million2JPY
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 379M
26.24x5.88x15.22x1.58% 424B
53.39x19.06x38.24x-.--% 257B
19.23x0.78x14.05x2.36% 172B
26.15x8.29x20.01x0.47% 142B
45.82x13.47x30.06x-.--% 87.12B
32.27x6.3x18.27x1.08% 73.81B
42.05x2.28x14.72x1.68% 57.35B
28.64x6.48x21.62x1.44% 55.32B
60.66x7.85x34.72x-.--% 49.89B
Average 37.16x 7.82x 22.99x 0.96% 131.89B
Weighted average by Cap. 34.32x 8.51x 22.20x 1.06%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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