TOSHIBA TEC CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3,155 JPY | +0.64% |
|
+3.44% | +8.01% |
| Apr. 23 | Toshiba Tec Concludes Inkjet Business Transfer to Riso Kagaku | MT |
| Apr. 18 | Sharing Energy Co., Ltd. announced that it has received ¥9.59 billion in funding from a group of investors | CI |
Valuation
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 168,999 | 186,955 | 223,081 | 271,939 | 216,410 | 166,993 | - | - |
| Enterprise Value (EV) 1 | 132,682 | 160,594 | 198,061 | 250,708 | 200,539 | 166,993 | 166,993 | 166,993 |
| P/E ratio | 15.1 x | 50.1 x | 31.3 x | 50.3 x | -15.7 x | - | 13.4 x | 12.1 x |
| Yield | 1.11% | 0.88% | 0.49% | 0.81% | 1.02% | 1.43% | 1.9% | 2.06% |
| Capitalization / Revenue | 0.35 x | 0.39 x | 0.55 x | 0.61 x | 0.42 x | 0.31 x | 0.31 x | 0.31 x |
| EV / Revenue | 0.35 x | 0.39 x | 0.55 x | 0.61 x | 0.42 x | 0.31 x | 0.31 x | 0.31 x |
| EV / EBITDA | 5.23 x | 6.11 x | 9.24 x | 10.1 x | 6.59 x | 4.7 x | 5.23 x | 5.2 x |
| EV / FCF | 39.6 x | 27.1 x | -670 x | -65.6 x | 72.4 x | 32.2 x | 7.05 x | 9.28 x |
| FCF Yield | 2.52% | 3.69% | -0.15% | -1.52% | 1.38% | 3.11% | 14.2% | 10.8% |
| Price to Book | 1.86 x | 2.14 x | 2.17 x | 2.43 x | 2.25 x | 1.9 x | 1.69 x | 1.57 x |
| Nbr of stocks (in thousands) | 54,959 | 54,987 | 55,014 | 55,328 | 55,348 | 52,930 | - | - |
| Reference price 2 | 3,075 | 3,400 | 4,055 | 4,915 | 3,910 | 3,155 | 3,155 | 3,155 |
| Announcement Date | 5/10/19 | 5/26/20 | 5/10/21 | 5/11/22 | 5/11/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 476,824 | 483,799 | 405,694 | 445,317 | 510,767 | 537,500 | 536,500 | 535,500 |
| EBITDA 1 | 32,297 | 30,606 | 24,147 | 27,035 | 32,833 | 35,500 | 31,900 | 32,100 |
| EBIT 1 | 17,989 | 13,977 | 8,263 | 11,566 | 16,078 | 17,750 | 19,200 | 22,300 |
| Operating Margin | 3.77% | 2.89% | 2.04% | 2.6% | 3.15% | 3.3% | 3.58% | 4.16% |
| Earnings before Tax (EBT) 1 | 16,679 | 10,159 | -176 | 9,124 | 4,710 | 13,550 | 18,700 | 19,650 |
| Net income 1 | 11,211 | 3,730 | 7,126 | 5,381 | -13,745 | - | 12,700 | 14,200 |
| Net margin | 2.35% | 0.77% | 1.76% | 1.21% | -2.69% | - | 2.37% | 2.65% |
| EPS 2 | 204.0 | 67.84 | 129.6 | 97.68 | -248.4 | - | 235.1 | 261.2 |
| Free Cash Flow 1 | 4,263 | 6,907 | -333 | -4,147 | 2,989 | 5,192 | 23,700 | 18,000 |
| FCF margin | 0.89% | 1.43% | -0.08% | -0.93% | 0.59% | 0.97% | 4.42% | 3.36% |
| FCF Conversion (EBITDA) | 13.2% | 22.57% | - | - | 9.1% | 14.63% | 74.29% | 56.07% |
| FCF Conversion (Net income) | 38.03% | 185.17% | - | - | - | - | 186.61% | 126.76% |
| Dividend per Share 2 | 34.00 | 30.00 | 20.00 | 40.00 | 40.00 | 45.00 | 60.00 | 65.00 |
| Announcement Date | 5/10/19 | 5/26/20 | 5/10/21 | 5/11/22 | 5/11/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: März | 2020 S1 | 2021 S1 | 2021 S2 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2024 S2 | 2025 Q1 | 2025 Q2 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 249,907 | 191,735 | 213,959 | 109,880 | 216,977 | 111,548 | 116,792 | 228,340 | 109,299 | 134,570 | 243,869 | 130,600 | 136,298 | 266,898 | 122,400 | 141,272 | 263,646 | 133,073 | 140,781 | 267,354 | 127,250 | 136,000 | 131,000 | 142,000 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 10,174 | -930 | 9,193 | 1,033 | 4,332 | 4,332 | 2,902 | 7,234 | 203 | 5,752 | 5,955 | 5,800 | 4,323 | 10,123 | 1,300 | 4,623 | 5,910 | 3,553 | 8,287 | 11,590 | 3,300 | 4,200 | 2,900 | 6,100 |
| Operating Margin | 4.07% | -0.49% | 4.3% | 0.94% | 2% | 3.88% | 2.48% | 3.17% | 0.19% | 4.27% | 2.44% | 4.44% | 3.17% | 3.79% | 1.06% | 3.27% | 2.24% | 2.67% | 5.89% | 4.34% | 2.59% | 3.09% | 2.21% | 4.3% |
| Earnings before Tax (EBT) | 9,301 | -7,735 | - | - | 2,216 | 5,214 | - | - | -2,275 | - | -4,264 | 6,116 | - | - | 254 | - | 3,304 | 2,658 | - | - | - | - | - | - |
| Net income 1 | 7,889 | -6,968 | 14,094 | -227 | 2,464 | 3,729 | -812 | 2,917 | -2,161 | -4,209 | -6,370 | 4,400 | -11,775 | -7,375 | - | 2,125 | 2,163 | -16,879 | 14,716 | -2,163 | - | - | - | - |
| Net margin | 3.16% | -3.63% | 6.59% | -0.21% | 1.14% | 3.34% | -0.7% | 1.28% | -1.98% | -3.13% | -2.61% | 3.37% | -8.64% | -2.76% | - | 1.5% | 0.82% | -12.68% | 10.45% | -0.81% | - | - | - | - |
| EPS 2 | 143.5 | -126.7 | 256.3 | -4.130 | 44.79 | 67.76 | -14.87 | 52.89 | -39.07 | -76.05 | -115.1 | 78.89 | -212.1 | -133.2 | 0.7000 | 38.41 | 39.11 | -309.1 | 266.0 | -39.10 | - | - | - | - |
| Dividend per Share | 20.00 | - | - | - | 20.00 | - | - | - | - | - | 20.00 | - | - | - | - | - | 20.00 | - | - | - | - | - | - | - |
| Announcement Date | 11/6/19 | 11/9/20 | 5/10/21 | 11/8/21 | 11/8/21 | 2/7/22 | 5/11/22 | 5/11/22 | 8/10/22 | 11/10/22 | 11/10/22 | 2/6/23 | 5/11/23 | 5/11/23 | 8/7/23 | 11/13/23 | 11/13/23 | 2/7/24 | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | - | - | - | - | - | - | - | - |
| Net Cash position | 36,317 | 26,361 | 25,020 | 21,231 | 15,871 | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 4,263 | 6,907 | -333 | -4,147 | 2,989 | 5,192 | 23,700 | 18,000 |
| ROE (net income / shareholders' equity) | 12.9% | 4.2% | 7.5% | 5% | -13.2% | - | 15.3% | 15.9% |
| ROA (Net income/ Total Assets) | 5.91% | 4.1% | 2.49% | 3.4% | 4.24% | - | - | - |
| Assets 1 | 189,794 | 90,923 | 286,202 | 158,198 | -324,547 | - | - | - |
| Book Value Per Share 2 | 1,654 | 1,589 | 1,867 | 2,023 | 1,738 | 1,663 | 1,863 | 2,008 |
| Cash Flow per Share | 464.0 | 370.0 | 418.0 | 378.0 | 54.40 | - | - | - |
| Capex 1 | 14,137 | 22,352 | 14,820 | 14,879 | 17,550 | 17,000 | 15,000 | 16,000 |
| Capex / Sales | 2.96% | 4.62% | 3.65% | 3.34% | 3.44% | 3.16% | 2.8% | 2.99% |
| Announcement Date | 5/10/19 | 5/26/20 | 5/10/21 | 5/11/22 | 5/11/23 | - | - | - |
1JPY in Million2JPY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
2
Last Close Price
3,155
JPY
Average target price
3,450
JPY
Spread / Average Target
+9.35%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +8.01% | 1.06B | |
| +16.41% | 26.44B | |
| +23.59% | 5.15B | |
| +24.24% | 4.54B | |
| +25.80% | 1.63B | |
| -16.19% | 1.08B | |
| -35.45% | 910M | |
| -6.14% | 734M | |
| +2.55% | 447M | |
| -18.64% | 315M |
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