View ValuationTokyu Construction 향후 성장Future 기준 점검 3/6Tokyu Construction (는) 각각 연간 15.2% 및 7% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 11.1% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 14.7% 로 예상됩니다.핵심 정보15.2%이익 성장률11.15%EPS 성장률Construction 이익 성장11.9%매출 성장률7.0%향후 자기자본이익률14.70%애널리스트 커버리지Low마지막 업데이트03 Jun 2026최근 향후 성장 업데이트공고 • May 10+ 2 more updatesTokyu Construction Co., Ltd. Provides Consolidated and Non-Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2025Tokyu Construction Co., Ltd. provided consolidated and non-consolidated earnings guidance for the fiscal year ending March 31, 2025. For the year, on consolidated basis the company expects net sales of JPY 310,000 million, Operating profit of JPY 5,000 million and profit attributable to owners of parent of JPY 4,400 million and basic earnings per share of JPY 41.70.For the year, on non-consolidated basis the company expects net sales of JPY 282,000 million, Operating profit of JPY 3,000 million and net income of JPY 2,900 million and basic earnings per share of JPY 27.48.공고 • Feb 09+ 1 more updateTokyu Construction Co., Ltd. Provides Consolidated Earnings Guidance for the Full Year of Fiscal Year Ending March 31, 2023Tokyu Construction Co., Ltd. provided consolidated earnings guidance for the Full year of Fiscal Year Ending March 31, 2023. For the year, company expects Net sales to be JPY 305,000 million, Operating profit of JPY 3,100 million, Profit attributable to owners of parent to be JPY 4,000 million and Basic earnings per share to be JPY 38.11.공고 • Nov 09+ 2 more updatesTokyu Construction Co., Ltd. Provides Consolidated Earnings Guidance for the Full Year Ending March 31, 2023Tokyu Construction Co., Ltd. provided consolidated earnings guidance for the full year ending March 31, 2023. For the period, company expects Net sales of JPY 305,000 million, Operating profit of JPY 3,100 million, Profit attributable to owners of parent of JPY 4,000 million and Basic earnings per share of JPY 38.11.모든 업데이트 보기Recent updatesDeclared Dividend • Jul 26Final dividend of JP¥21.00 announcedShareholders will receive a dividend of JP¥21.00. Ex-date: 29th September 2026 Payment date: 1st December 2026 Dividend yield will be 343%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (32% earnings payout ratio) but not covered by cash flows (155% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Board Change • Jul 01High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. External Independent Director Kumiko Igushi was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Board Change • May 20Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent External Director Tsutomu Tsunashima was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.공고 • May 09Tokyu Construction Co., Ltd. to Report Q1, 2027 Results on Aug 05, 2026Tokyu Construction Co., Ltd. announced that they will report Q1, 2027 results on Aug 05, 2026공고 • May 08Tokyu Construction Co., Ltd., Annual General Meeting, Jun 24, 2026Tokyu Construction Co., Ltd., Annual General Meeting, Jun 24, 2026.공고 • Mar 20Tokyu Construction Co., Ltd. to Report Fiscal Year 2026 Results on May 08, 2026Tokyu Construction Co., Ltd. announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on May 08, 2026공고 • Dec 27Tokyu Construction Co., Ltd. to Report Q3, 2026 Results on Feb 06, 2026Tokyu Construction Co., Ltd. announced that they will report Q3, 2026 results on Feb 06, 2026공고 • Sep 27Tokyu Construction Co., Ltd. to Report Q2, 2026 Results on Nov 07, 2025Tokyu Construction Co., Ltd. announced that they will report Q2, 2026 results on Nov 07, 2025공고 • Jun 26Tokyu Construction Co., Ltd. to Report Q1, 2026 Results on Aug 06, 2025Tokyu Construction Co., Ltd. announced that they will report Q1, 2026 results on Aug 06, 2025공고 • May 13Tokyu Construction Co., Ltd., Annual General Meeting, Jun 25, 2025Tokyu Construction Co., Ltd., Annual General Meeting, Jun 25, 2025.공고 • Mar 04Tokyu Construction Co., Ltd. to Report Fiscal Year 2025 Results on May 13, 2025Tokyu Construction Co., Ltd. announced that they will report fiscal year 2025 results on May 13, 2025공고 • Dec 21Tokyu Construction Co., Ltd. to Report Q3, 2025 Results on Feb 12, 2025Tokyu Construction Co., Ltd. announced that they will report Q3, 2025 results on Feb 12, 2025Reported Earnings • Nov 10Second quarter 2025 earnings released: EPS: JP¥0.33 (vs JP¥16.53 in 2Q 2024)Second quarter 2025 results: EPS: JP¥0.33 (down from JP¥16.53 in 2Q 2024). Revenue: JP¥63.4b (down 12% from 2Q 2024). Net income: JP¥35.0m (down 98% from 2Q 2024). Profit margin: 0.1% (down from 2.4% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.공고 • Sep 27Tokyu Construction Co., Ltd. to Report Q2, 2025 Results on Nov 07, 2024Tokyu Construction Co., Ltd. announced that they will report Q2, 2025 results on Nov 07, 2024Upcoming Dividend • Sep 20Upcoming dividend of JP¥19.00 per shareEligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 61% but the company is not cash flow positive. Trailing yield: 5.2%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (3.6%).Reported Earnings • Aug 09First quarter 2025 earnings released: JP¥0.89 loss per share (vs JP¥7.31 profit in 1Q 2024)First quarter 2025 results: JP¥0.89 loss per share (down from JP¥7.31 profit in 1Q 2024). Revenue: JP¥55.3b (down 12% from 1Q 2024). Net loss: JP¥94.0m (down 112% from profit in 1Q 2024). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.Declared Dividend • Jul 11Final dividend of JP¥19.00 announcedShareholders will receive a dividend of JP¥19.00. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 447%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (64% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 29% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover.New Risk • Jun 14New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 1.2% per year for the foreseeable future. High level of non-cash earnings (69% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.공고 • May 11Tokyu Construction Co., Ltd., Annual General Meeting, Jun 25, 2024Tokyu Construction Co., Ltd., Annual General Meeting, Jun 25, 2024.Reported Earnings • May 10Full year 2024 earnings released: EPS: JP¥68.98 (vs JP¥49.98 in FY 2023)Full year 2024 results: EPS: JP¥68.98 (up from JP¥49.98 in FY 2023). Revenue: JP¥285.7b (down 1.1% from FY 2023). Net income: JP¥7.27b (up 39% from FY 2023). Profit margin: 2.5% (up from 1.8% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.1% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.공고 • May 10+ 2 more updatesTokyu Construction Co., Ltd. Provides Consolidated and Non-Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2025Tokyu Construction Co., Ltd. provided consolidated and non-consolidated earnings guidance for the fiscal year ending March 31, 2025. For the year, on consolidated basis the company expects net sales of JPY 310,000 million, Operating profit of JPY 5,000 million and profit attributable to owners of parent of JPY 4,400 million and basic earnings per share of JPY 41.70.For the year, on non-consolidated basis the company expects net sales of JPY 282,000 million, Operating profit of JPY 3,000 million and net income of JPY 2,900 million and basic earnings per share of JPY 27.48.공고 • Mar 24Tokyu Construction Co., Ltd. to Report Fiscal Year 2024 Results on May 09, 2024Tokyu Construction Co., Ltd. announced that they will report fiscal year 2024 results on May 09, 2024Upcoming Dividend • Mar 21Upcoming dividend of JP¥18.00 per shareEligible shareholders must have bought the stock before 28 March 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 64% but the company is not cash flow positive. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (4.9%). In line with average of industry peers (3.9%).Reported Earnings • Feb 11Third quarter 2024 earnings released: EPS: JP¥4.62 (vs JP¥24.68 in 3Q 2023)Third quarter 2024 results: EPS: JP¥4.62 (down from JP¥24.68 in 3Q 2023). Revenue: JP¥70.5b (down 2.3% from 3Q 2023). Net income: JP¥487.0m (down 81% from 3Q 2023). Profit margin: 0.7% (down from 3.6% in 3Q 2023). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.공고 • Dec 27Tokyu Construction Co., Ltd. to Report Q3, 2024 Results on Feb 08, 2024Tokyu Construction Co., Ltd. announced that they will report Q3, 2024 results on Feb 08, 2024New Risk • Nov 09New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 52% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. High level of non-cash earnings (52% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.New Risk • Nov 08New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results.Reported Earnings • Nov 08Second quarter 2024 earnings released: EPS: JP¥16.53 (vs JP¥0.53 in 2Q 2023)Second quarter 2024 results: EPS: JP¥16.53 (up from JP¥0.53 in 2Q 2023). Revenue: JP¥71.8b (up 6.6% from 2Q 2023). Net income: JP¥1.74b (up JP¥1.69b from 2Q 2023). Profit margin: 2.4% (up from 0.1% in 2Q 2023). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Construction industry in Germany. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.공고 • Sep 28Tokyu Construction Co., Ltd. to Report Q2, 2024 Results on Nov 07, 2023Tokyu Construction Co., Ltd. announced that they will report Q2, 2024 results on Nov 07, 2023Upcoming Dividend • Sep 21Upcoming dividend of JP¥18.00 per share at 4.3% yieldEligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.8%).Reported Earnings • Aug 08First quarter 2024 earnings released: EPS: JP¥7.31 (vs JP¥3.25 loss in 1Q 2023)First quarter 2024 results: EPS: JP¥7.31 (up from JP¥3.25 loss in 1Q 2023). Revenue: JP¥62.9b (up 2.3% from 1Q 2023). Net income: JP¥769.0m (up JP¥1.11b from 1Q 2023). Profit margin: 1.2% (up from net loss in 1Q 2023). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Construction industry in Germany. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.Board Change • Jul 05Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent External Director Kunihiro Koshizuka was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.New Risk • Jun 08New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 2.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.5% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (dividend per share is over 8x earnings per share). Large one-off items impacting financial results.공고 • May 28Tokyu Construction Co., Ltd. to Report Q1, 2024 Results on Aug 07, 2023Tokyu Construction Co., Ltd. announced that they will report Q1, 2024 results on Aug 07, 2023Reported Earnings • May 12Full year 2023 earnings released: EPS: JP¥49.98 (vs JP¥71.26 loss in FY 2022)Full year 2023 results: EPS: JP¥49.98 (up from JP¥71.26 loss in FY 2022). Revenue: JP¥288.9b (up 12% from FY 2022). Net income: JP¥5.25b (up JP¥12.7b from FY 2022). Profit margin: 1.8% (up from net loss in FY 2022). Revenue is forecast to grow 6.1% p.a. on average during the next 2 years, compared to a 2.4% growth forecast for the Construction industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance.Upcoming Dividend • Mar 23Upcoming dividend of JP¥18.00 per share at 5.4% yieldEligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.4%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (3.8%).Reported Earnings • Feb 12Third quarter 2023 earnings released: EPS: JP¥24.68 (vs JP¥21.17 in 3Q 2022)Third quarter 2023 results: EPS: JP¥24.68 (up from JP¥21.17 in 3Q 2022). Revenue: JP¥72.2b (up 3.6% from 3Q 2022). Net income: JP¥2.59b (up 17% from 3Q 2022). Profit margin: 3.6% (up from 3.2% in 3Q 2022). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Construction industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance.공고 • Feb 09+ 1 more updateTokyu Construction Co., Ltd. Provides Consolidated Earnings Guidance for the Full Year of Fiscal Year Ending March 31, 2023Tokyu Construction Co., Ltd. provided consolidated earnings guidance for the Full year of Fiscal Year Ending March 31, 2023. For the year, company expects Net sales to be JPY 305,000 million, Operating profit of JPY 3,100 million, Profit attributable to owners of parent to be JPY 4,000 million and Basic earnings per share to be JPY 38.11.공고 • Dec 16Tokyu Construction Co., Ltd. to Report Q3, 2023 Results on Feb 09, 2023Tokyu Construction Co., Ltd. announced that they will report Q3, 2023 results on Feb 09, 2023Board Change • Nov 16High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Director Setsu Hamana was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Nov 10Second quarter 2023 earnings released: EPS: JP¥0.53 (vs JP¥70.71 loss in 2Q 2022)Second quarter 2023 results: EPS: JP¥0.53 (up from JP¥70.71 loss in 2Q 2022). Revenue: JP¥67.4b (up 22% from 2Q 2022). Net income: JP¥56.0m (up JP¥7.46b from 2Q 2022). Profit margin: 0.1% (up from net loss in 2Q 2022). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Construction industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance.공고 • Nov 09+ 2 more updatesTokyu Construction Co., Ltd. Provides Consolidated Earnings Guidance for the Full Year Ending March 31, 2023Tokyu Construction Co., Ltd. provided consolidated earnings guidance for the full year ending March 31, 2023. For the period, company expects Net sales of JPY 305,000 million, Operating profit of JPY 3,100 million, Profit attributable to owners of parent of JPY 4,000 million and Basic earnings per share of JPY 38.11.공고 • Sep 28Tokyu Construction Co., Ltd. to Report Q2, 2023 Results on Nov 08, 2022Tokyu Construction Co., Ltd. announced that they will report Q2, 2023 results on Nov 08, 2022Upcoming Dividend • Sep 22Upcoming dividend of JP¥18.00 per shareEligible shareholders must have bought the stock before 29 September 2022. Payment date: 02 December 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 5.3%. Within top quartile of German dividend payers (5.1%). Higher than average of industry peers (4.2%).Reported Earnings • Aug 11First quarter 2023 earnings released: JP¥3.25 loss per share (vs JP¥2.55 loss in 1Q 2022)First quarter 2023 results: JP¥3.25 loss per share (down from JP¥2.55 loss in 1Q 2022). Revenue: JP¥61.5b (up 9.1% from 1Q 2022). Net loss: JP¥340.0m (loss widened 27% from 1Q 2022). Over the next year, revenue is forecast to grow 9.7%, compared to a 5.4% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance.공고 • Aug 11+ 1 more updateTokyu Construction Co., Ltd. Provides Dividend Guidance for the Second Quarter of the Fiscal Year Ending March 31, 2023Tokyu Construction Co., Ltd. provided dividend guidance for the second quarter of the fiscal year ending March 31, 2023. For the quarter, Company expected dividend to be JPY 18.00 per share against JPY 20.00 per share a year ago.공고 • Jun 12Tokyu Construction Co., Ltd. to Report Q1, 2023 Results on Aug 09, 2022Tokyu Construction Co., Ltd. announced that they will report Q1, 2023 results on Aug 09, 2022Reported Earnings • May 17Full year 2022 earnings released: JP¥71.06 loss per share (vs JP¥24.95 profit in FY 2021)Full year 2022 results: JP¥71.06 loss per share (down from JP¥24.95 profit in FY 2021). Revenue: JP¥258.1b (up 12% from FY 2021). Net loss: JP¥7.46b (down 382% from profit in FY 2021). Over the next year, revenue is forecast to grow 11%, compared to a 6.9% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance.공고 • May 14Tokyu Construction Co., Ltd., Annual General Meeting, Jun 24, 2022Tokyu Construction Co., Ltd., Annual General Meeting, Jun 24, 2022.Board Change • Apr 29Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent External Director Kunihiro Koshizuka was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.공고 • Apr 07Tokyu Construction Co., Ltd. to Report Fiscal Year 2022 Results on May 12, 2022Tokyu Construction Co., Ltd. announced that they will report fiscal year 2022 results on May 12, 2022Upcoming Dividend • Mar 23Upcoming dividend of JP¥20.00 per shareEligible shareholders must have bought the stock before 30 March 2022. Payment date: 25 June 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 5.7%. Within top quartile of German dividend payers (3.6%). Higher than average of industry peers (3.8%).Reported Earnings • Feb 09Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beatThird quarter 2022 results: EPS: JP¥21.17 (up from JP¥7.41 in 3Q 2021). Revenue: JP¥69.7b (up 18% from 3Q 2021). Net income: JP¥2.22b (up 182% from 3Q 2021). Profit margin: 3.2% (up from 1.3% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 16%. Over the next year, revenue is forecast to grow 3.3%, compared to a 9.9% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance.Reported Earnings • Nov 10Second quarter 2022 earnings released: JP¥70.71 loss per share (vs JP¥6.56 profit in 2Q 2021)The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2022 results: Revenue: JP¥55.3b (up 4.8% from 2Q 2021). Net loss: JP¥7.40b (down JP¥8.10b from profit in 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance.Valuation Update With 7 Day Price Move • Nov 09Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to €5.00, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Construction industry in Europe. Total loss to shareholders of 34% over the past three years.Reported Earnings • Aug 13First quarter 2022 earnings released: JP¥2.55 loss per share (vs JP¥0.56 profit in 1Q 2021)The company reported a mediocre first quarter result with weaker earnings and weaker control over costs, although revenues improved. First quarter 2022 results: Revenue: JP¥56.3b (up 32% from 1Q 2021). Net loss: JP¥267.0m (down JP¥327.0m from profit in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.Board Change • Jul 31High number of new directorsIndependent External Director Kunihiro Koshizuka was the last director to join the board, commencing their role in 2021.Reported Earnings • May 14Full year 2021 earnings released: EPS JP¥24.95 (vs JP¥140 in FY 2020)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥231.5b (down 28% from FY 2020). Net income: JP¥2.65b (down 82% from FY 2020). Profit margin: 1.1% (down from 4.6% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings.Valuation Update With 7 Day Price Move • May 13Investor sentiment improved over the past weekAfter last week's 16% share price gain to JP¥4.94, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 15x in the Construction industry in Europe. Total loss to shareholders of 40% over the past three years.Upcoming Dividend • Mar 23Upcoming dividend of JP¥10.00 per shareEligible shareholders must have bought the stock before 30 March 2021. Payment date: 25 June 2021. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (3.3%).Is New 90 Day High Low • Mar 06New 90-day high: €4.44The company is up 17% from its price of €3.80 on 04 December 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is down 9.0% over the same period.공고 • Mar 06Tokyu Construction Co., Ltd. to Report Fiscal Year 2021 Results on May 12, 2021Tokyu Construction Co., Ltd. announced that they will report fiscal year 2021 results on May 12, 2021Reported Earnings • Feb 12Third quarter 2021 earnings released: EPS JP¥7.41 (vs JP¥10.75 in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥59.2b (down 8.5% from 3Q 2020). Net income: JP¥787.0m (down 31% from 3Q 2020). Profit margin: 1.3% (down from 1.8% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year whereas the company’s share price has fallen by 21% per year.Analyst Estimate Surprise Post Earnings • Feb 12Revenue misses expectationsRevenue missed analyst estimates by 4.9%. Over the next year, revenue is forecast to grow 4.7%, compared to a 5.6% growth forecast for the Construction industry in Germany.Is New 90 Day High Low • Feb 04New 90-day high: €4.22The company is up 10.0% from its price of €3.84 on 06 November 2020. The German market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 20% over the same period.Is New 90 Day High Low • Jan 14New 90-day high: €4.02The company is up 8.0% from its price of €3.72 on 16 October 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 23% over the same period.공고 • Dec 19Tokyu Construction Co., Ltd. to Report Q3, 2021 Results on Feb 09, 2021Tokyu Construction Co., Ltd. announced that they will report Q3, 2021 results on Feb 09, 2021Analyst Estimate Surprise Post Earnings • Nov 11Revenue misses expectationsRevenue missed analyst estimates by 4.7%. Over the next year, revenue is forecast to grow 2.4%, compared to a 1.3% growth forecast for the Construction industry in Germany.Reported Earnings • Nov 11Second quarter 2021 earnings released: EPS JP¥6.56The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥52.7b (down 50% from 2Q 2020). Net income: JP¥699.0m (down 90% from 2Q 2020). Profit margin: 1.3% (down from 6.4% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings.Is New 90 Day High Low • Nov 11New 90-day high: €3.96The company is up 3.0% from its price of €3.86 on 13 August 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is down 1.0% over the same period.Is New 90 Day High Low • Oct 01New 90-day low: €3.60The company is down 16% from its price of €4.30 on 03 July 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Construction industry, which is down 19% over the same period.공고 • Aug 23Tokyu Construction Co., Ltd. to Report Q2, 2021 Results on Nov 09, 2020Tokyu Construction Co., Ltd. announced that they will report Q2, 2021 results on Nov 09, 2020공고 • Jun 21Tokyu Construction Co., Ltd. to Report Q1, 2021 Results on Aug 06, 2020Tokyu Construction Co., Ltd. announced that they will report Q1, 2021 results on Aug 06, 2020이익 및 매출 성장 예측DB:TCW - 애널리스트 향후 추정치 및 과거 재무 데이터 (JPY Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수3/31/2029416,00020,500N/A18,00013/31/2028379,00016,900N/A12,05013/31/2027344,00013,700N/A12,36313/31/2026341,18113,3902,9406,910N/A12/31/2025335,91811,786N/AN/AN/A9/30/2025324,58610,79828,52333,404N/A6/30/2025309,8368,152N/AN/AN/A3/31/2025293,1396,63138,52841,203N/A12/31/2024277,2637,083N/AN/AN/A9/30/2024269,6254,6979,31711,813N/A6/30/2024278,0726,403N/AN/AN/A3/31/2024285,6817,266-55,693-54,023N/A12/31/2023293,0465,935N/AN/AN/A9/30/2023294,7078,039-39,190-38,437N/A6/30/2023290,2596,354N/AN/AN/A3/31/2023288,8675,24519,72720,392N/A12/31/2022277,806300N/AN/AN/A9/30/2022275,311-757,9219,635N/A6/30/2022263,218-7,532N/AN/AN/A3/31/2022258,083-7,45910,24312,201N/A12/31/2021258,112-4,351N/AN/AN/A9/30/2021247,674-5,78028,70529,965N/A6/30/2021245,1322,320N/AN/AN/A3/31/2021231,4832,6478,27811,629N/A12/31/2020228,6473,787N/AN/AN/A9/30/2020234,1784,146-2,0545,861N/A6/30/2020286,13210,125N/AN/AN/A3/31/2020322,17014,903-41,315-33,439N/A12/31/2019349,81116,649N/AN/AN/A9/30/2019360,15519,361N/A-35,248N/A6/30/2019349,02817,852N/AN/AN/A3/31/2019331,43715,504N/A29,694N/A12/31/2018341,45116,305N/AN/AN/A9/30/2018349,47018,272N/A35,437N/A6/30/2018326,83816,292N/AN/AN/A3/31/2018320,71116,118N/A16,226N/A12/31/2017303,53415,586N/AN/AN/A9/30/2017266,10811,945N/A-4,375N/A6/30/2017238,17410,236N/AN/AN/A3/31/2017243,61813,691N/A-23,545N/A12/31/2016246,26113,808N/AN/AN/A9/30/2016284,83217,285N/A9,112N/A6/30/2016304,53317,301N/AN/AN/A3/31/2016296,39313,340N/A39,003N/A12/31/2015284,53710,836N/AN/AN/A9/30/2015271,7287,580N/A16,487N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: TCW 의 연간 예상 수익 증가율(15.2%)이 saving rate(1.9%)보다 높습니다.수익 vs 시장: TCW 의 연간 수익(15.2%)이 German 시장(15.6%)보다 빠르게 성장할 것으로 예상됩니다.고성장 수익: TCW 의 수입은 증가할 것으로 예상되지만 상당히 증가하지는 않을 것입니다.수익 대 시장: TCW 의 수익(연간 7%)이 German 시장(연간 6.7%)보다 빠르게 성장할 것으로 예상됩니다.고성장 매출: TCW 의 수익(연간 7%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: TCW의 자본 수익률은 3년 후 14.7%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YCapital-goods 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/07/30 19:47종가2026/07/30 00:00수익2026/03/31연간 수익2026/03/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델의 세부 정보는 당사의 GitHub 페이지에서 확인하실 수 있습니다. 또한 보고서 사용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Tokyu Construction Co., Ltd.는 2명의 분석가가 다루고 있습니다. 이 중 1명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Yoko MizoguchiIchiyoshi Research Institute Inc.Hideaki KuriharaTokai Tokyo Intelligence Laboratory Co., Ltd.
공고 • May 10+ 2 more updatesTokyu Construction Co., Ltd. Provides Consolidated and Non-Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2025Tokyu Construction Co., Ltd. provided consolidated and non-consolidated earnings guidance for the fiscal year ending March 31, 2025. For the year, on consolidated basis the company expects net sales of JPY 310,000 million, Operating profit of JPY 5,000 million and profit attributable to owners of parent of JPY 4,400 million and basic earnings per share of JPY 41.70.For the year, on non-consolidated basis the company expects net sales of JPY 282,000 million, Operating profit of JPY 3,000 million and net income of JPY 2,900 million and basic earnings per share of JPY 27.48.
공고 • Feb 09+ 1 more updateTokyu Construction Co., Ltd. Provides Consolidated Earnings Guidance for the Full Year of Fiscal Year Ending March 31, 2023Tokyu Construction Co., Ltd. provided consolidated earnings guidance for the Full year of Fiscal Year Ending March 31, 2023. For the year, company expects Net sales to be JPY 305,000 million, Operating profit of JPY 3,100 million, Profit attributable to owners of parent to be JPY 4,000 million and Basic earnings per share to be JPY 38.11.
공고 • Nov 09+ 2 more updatesTokyu Construction Co., Ltd. Provides Consolidated Earnings Guidance for the Full Year Ending March 31, 2023Tokyu Construction Co., Ltd. provided consolidated earnings guidance for the full year ending March 31, 2023. For the period, company expects Net sales of JPY 305,000 million, Operating profit of JPY 3,100 million, Profit attributable to owners of parent of JPY 4,000 million and Basic earnings per share of JPY 38.11.
Declared Dividend • Jul 26Final dividend of JP¥21.00 announcedShareholders will receive a dividend of JP¥21.00. Ex-date: 29th September 2026 Payment date: 1st December 2026 Dividend yield will be 343%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (32% earnings payout ratio) but not covered by cash flows (155% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Board Change • Jul 01High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. External Independent Director Kumiko Igushi was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Board Change • May 20Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent External Director Tsutomu Tsunashima was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
공고 • May 09Tokyu Construction Co., Ltd. to Report Q1, 2027 Results on Aug 05, 2026Tokyu Construction Co., Ltd. announced that they will report Q1, 2027 results on Aug 05, 2026
공고 • May 08Tokyu Construction Co., Ltd., Annual General Meeting, Jun 24, 2026Tokyu Construction Co., Ltd., Annual General Meeting, Jun 24, 2026.
공고 • Mar 20Tokyu Construction Co., Ltd. to Report Fiscal Year 2026 Results on May 08, 2026Tokyu Construction Co., Ltd. announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on May 08, 2026
공고 • Dec 27Tokyu Construction Co., Ltd. to Report Q3, 2026 Results on Feb 06, 2026Tokyu Construction Co., Ltd. announced that they will report Q3, 2026 results on Feb 06, 2026
공고 • Sep 27Tokyu Construction Co., Ltd. to Report Q2, 2026 Results on Nov 07, 2025Tokyu Construction Co., Ltd. announced that they will report Q2, 2026 results on Nov 07, 2025
공고 • Jun 26Tokyu Construction Co., Ltd. to Report Q1, 2026 Results on Aug 06, 2025Tokyu Construction Co., Ltd. announced that they will report Q1, 2026 results on Aug 06, 2025
공고 • May 13Tokyu Construction Co., Ltd., Annual General Meeting, Jun 25, 2025Tokyu Construction Co., Ltd., Annual General Meeting, Jun 25, 2025.
공고 • Mar 04Tokyu Construction Co., Ltd. to Report Fiscal Year 2025 Results on May 13, 2025Tokyu Construction Co., Ltd. announced that they will report fiscal year 2025 results on May 13, 2025
공고 • Dec 21Tokyu Construction Co., Ltd. to Report Q3, 2025 Results on Feb 12, 2025Tokyu Construction Co., Ltd. announced that they will report Q3, 2025 results on Feb 12, 2025
Reported Earnings • Nov 10Second quarter 2025 earnings released: EPS: JP¥0.33 (vs JP¥16.53 in 2Q 2024)Second quarter 2025 results: EPS: JP¥0.33 (down from JP¥16.53 in 2Q 2024). Revenue: JP¥63.4b (down 12% from 2Q 2024). Net income: JP¥35.0m (down 98% from 2Q 2024). Profit margin: 0.1% (down from 2.4% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.
공고 • Sep 27Tokyu Construction Co., Ltd. to Report Q2, 2025 Results on Nov 07, 2024Tokyu Construction Co., Ltd. announced that they will report Q2, 2025 results on Nov 07, 2024
Upcoming Dividend • Sep 20Upcoming dividend of JP¥19.00 per shareEligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 61% but the company is not cash flow positive. Trailing yield: 5.2%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (3.6%).
Reported Earnings • Aug 09First quarter 2025 earnings released: JP¥0.89 loss per share (vs JP¥7.31 profit in 1Q 2024)First quarter 2025 results: JP¥0.89 loss per share (down from JP¥7.31 profit in 1Q 2024). Revenue: JP¥55.3b (down 12% from 1Q 2024). Net loss: JP¥94.0m (down 112% from profit in 1Q 2024). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.
Declared Dividend • Jul 11Final dividend of JP¥19.00 announcedShareholders will receive a dividend of JP¥19.00. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 447%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (64% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 29% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
New Risk • Jun 14New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 1.2% per year for the foreseeable future. High level of non-cash earnings (69% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.
공고 • May 11Tokyu Construction Co., Ltd., Annual General Meeting, Jun 25, 2024Tokyu Construction Co., Ltd., Annual General Meeting, Jun 25, 2024.
Reported Earnings • May 10Full year 2024 earnings released: EPS: JP¥68.98 (vs JP¥49.98 in FY 2023)Full year 2024 results: EPS: JP¥68.98 (up from JP¥49.98 in FY 2023). Revenue: JP¥285.7b (down 1.1% from FY 2023). Net income: JP¥7.27b (up 39% from FY 2023). Profit margin: 2.5% (up from 1.8% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.1% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
공고 • May 10+ 2 more updatesTokyu Construction Co., Ltd. Provides Consolidated and Non-Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2025Tokyu Construction Co., Ltd. provided consolidated and non-consolidated earnings guidance for the fiscal year ending March 31, 2025. For the year, on consolidated basis the company expects net sales of JPY 310,000 million, Operating profit of JPY 5,000 million and profit attributable to owners of parent of JPY 4,400 million and basic earnings per share of JPY 41.70.For the year, on non-consolidated basis the company expects net sales of JPY 282,000 million, Operating profit of JPY 3,000 million and net income of JPY 2,900 million and basic earnings per share of JPY 27.48.
공고 • Mar 24Tokyu Construction Co., Ltd. to Report Fiscal Year 2024 Results on May 09, 2024Tokyu Construction Co., Ltd. announced that they will report fiscal year 2024 results on May 09, 2024
Upcoming Dividend • Mar 21Upcoming dividend of JP¥18.00 per shareEligible shareholders must have bought the stock before 28 March 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 64% but the company is not cash flow positive. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (4.9%). In line with average of industry peers (3.9%).
Reported Earnings • Feb 11Third quarter 2024 earnings released: EPS: JP¥4.62 (vs JP¥24.68 in 3Q 2023)Third quarter 2024 results: EPS: JP¥4.62 (down from JP¥24.68 in 3Q 2023). Revenue: JP¥70.5b (down 2.3% from 3Q 2023). Net income: JP¥487.0m (down 81% from 3Q 2023). Profit margin: 0.7% (down from 3.6% in 3Q 2023). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.
공고 • Dec 27Tokyu Construction Co., Ltd. to Report Q3, 2024 Results on Feb 08, 2024Tokyu Construction Co., Ltd. announced that they will report Q3, 2024 results on Feb 08, 2024
New Risk • Nov 09New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 52% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. High level of non-cash earnings (52% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.
New Risk • Nov 08New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results.
Reported Earnings • Nov 08Second quarter 2024 earnings released: EPS: JP¥16.53 (vs JP¥0.53 in 2Q 2023)Second quarter 2024 results: EPS: JP¥16.53 (up from JP¥0.53 in 2Q 2023). Revenue: JP¥71.8b (up 6.6% from 2Q 2023). Net income: JP¥1.74b (up JP¥1.69b from 2Q 2023). Profit margin: 2.4% (up from 0.1% in 2Q 2023). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Construction industry in Germany. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
공고 • Sep 28Tokyu Construction Co., Ltd. to Report Q2, 2024 Results on Nov 07, 2023Tokyu Construction Co., Ltd. announced that they will report Q2, 2024 results on Nov 07, 2023
Upcoming Dividend • Sep 21Upcoming dividend of JP¥18.00 per share at 4.3% yieldEligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.8%).
Reported Earnings • Aug 08First quarter 2024 earnings released: EPS: JP¥7.31 (vs JP¥3.25 loss in 1Q 2023)First quarter 2024 results: EPS: JP¥7.31 (up from JP¥3.25 loss in 1Q 2023). Revenue: JP¥62.9b (up 2.3% from 1Q 2023). Net income: JP¥769.0m (up JP¥1.11b from 1Q 2023). Profit margin: 1.2% (up from net loss in 1Q 2023). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Construction industry in Germany. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
Board Change • Jul 05Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent External Director Kunihiro Koshizuka was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.
New Risk • Jun 08New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 2.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.5% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (dividend per share is over 8x earnings per share). Large one-off items impacting financial results.
공고 • May 28Tokyu Construction Co., Ltd. to Report Q1, 2024 Results on Aug 07, 2023Tokyu Construction Co., Ltd. announced that they will report Q1, 2024 results on Aug 07, 2023
Reported Earnings • May 12Full year 2023 earnings released: EPS: JP¥49.98 (vs JP¥71.26 loss in FY 2022)Full year 2023 results: EPS: JP¥49.98 (up from JP¥71.26 loss in FY 2022). Revenue: JP¥288.9b (up 12% from FY 2022). Net income: JP¥5.25b (up JP¥12.7b from FY 2022). Profit margin: 1.8% (up from net loss in FY 2022). Revenue is forecast to grow 6.1% p.a. on average during the next 2 years, compared to a 2.4% growth forecast for the Construction industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance.
Upcoming Dividend • Mar 23Upcoming dividend of JP¥18.00 per share at 5.4% yieldEligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.4%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (3.8%).
Reported Earnings • Feb 12Third quarter 2023 earnings released: EPS: JP¥24.68 (vs JP¥21.17 in 3Q 2022)Third quarter 2023 results: EPS: JP¥24.68 (up from JP¥21.17 in 3Q 2022). Revenue: JP¥72.2b (up 3.6% from 3Q 2022). Net income: JP¥2.59b (up 17% from 3Q 2022). Profit margin: 3.6% (up from 3.2% in 3Q 2022). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Construction industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance.
공고 • Feb 09+ 1 more updateTokyu Construction Co., Ltd. Provides Consolidated Earnings Guidance for the Full Year of Fiscal Year Ending March 31, 2023Tokyu Construction Co., Ltd. provided consolidated earnings guidance for the Full year of Fiscal Year Ending March 31, 2023. For the year, company expects Net sales to be JPY 305,000 million, Operating profit of JPY 3,100 million, Profit attributable to owners of parent to be JPY 4,000 million and Basic earnings per share to be JPY 38.11.
공고 • Dec 16Tokyu Construction Co., Ltd. to Report Q3, 2023 Results on Feb 09, 2023Tokyu Construction Co., Ltd. announced that they will report Q3, 2023 results on Feb 09, 2023
Board Change • Nov 16High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Director Setsu Hamana was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Nov 10Second quarter 2023 earnings released: EPS: JP¥0.53 (vs JP¥70.71 loss in 2Q 2022)Second quarter 2023 results: EPS: JP¥0.53 (up from JP¥70.71 loss in 2Q 2022). Revenue: JP¥67.4b (up 22% from 2Q 2022). Net income: JP¥56.0m (up JP¥7.46b from 2Q 2022). Profit margin: 0.1% (up from net loss in 2Q 2022). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Construction industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance.
공고 • Nov 09+ 2 more updatesTokyu Construction Co., Ltd. Provides Consolidated Earnings Guidance for the Full Year Ending March 31, 2023Tokyu Construction Co., Ltd. provided consolidated earnings guidance for the full year ending March 31, 2023. For the period, company expects Net sales of JPY 305,000 million, Operating profit of JPY 3,100 million, Profit attributable to owners of parent of JPY 4,000 million and Basic earnings per share of JPY 38.11.
공고 • Sep 28Tokyu Construction Co., Ltd. to Report Q2, 2023 Results on Nov 08, 2022Tokyu Construction Co., Ltd. announced that they will report Q2, 2023 results on Nov 08, 2022
Upcoming Dividend • Sep 22Upcoming dividend of JP¥18.00 per shareEligible shareholders must have bought the stock before 29 September 2022. Payment date: 02 December 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 5.3%. Within top quartile of German dividend payers (5.1%). Higher than average of industry peers (4.2%).
Reported Earnings • Aug 11First quarter 2023 earnings released: JP¥3.25 loss per share (vs JP¥2.55 loss in 1Q 2022)First quarter 2023 results: JP¥3.25 loss per share (down from JP¥2.55 loss in 1Q 2022). Revenue: JP¥61.5b (up 9.1% from 1Q 2022). Net loss: JP¥340.0m (loss widened 27% from 1Q 2022). Over the next year, revenue is forecast to grow 9.7%, compared to a 5.4% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance.
공고 • Aug 11+ 1 more updateTokyu Construction Co., Ltd. Provides Dividend Guidance for the Second Quarter of the Fiscal Year Ending March 31, 2023Tokyu Construction Co., Ltd. provided dividend guidance for the second quarter of the fiscal year ending March 31, 2023. For the quarter, Company expected dividend to be JPY 18.00 per share against JPY 20.00 per share a year ago.
공고 • Jun 12Tokyu Construction Co., Ltd. to Report Q1, 2023 Results on Aug 09, 2022Tokyu Construction Co., Ltd. announced that they will report Q1, 2023 results on Aug 09, 2022
Reported Earnings • May 17Full year 2022 earnings released: JP¥71.06 loss per share (vs JP¥24.95 profit in FY 2021)Full year 2022 results: JP¥71.06 loss per share (down from JP¥24.95 profit in FY 2021). Revenue: JP¥258.1b (up 12% from FY 2021). Net loss: JP¥7.46b (down 382% from profit in FY 2021). Over the next year, revenue is forecast to grow 11%, compared to a 6.9% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance.
공고 • May 14Tokyu Construction Co., Ltd., Annual General Meeting, Jun 24, 2022Tokyu Construction Co., Ltd., Annual General Meeting, Jun 24, 2022.
Board Change • Apr 29Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent External Director Kunihiro Koshizuka was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
공고 • Apr 07Tokyu Construction Co., Ltd. to Report Fiscal Year 2022 Results on May 12, 2022Tokyu Construction Co., Ltd. announced that they will report fiscal year 2022 results on May 12, 2022
Upcoming Dividend • Mar 23Upcoming dividend of JP¥20.00 per shareEligible shareholders must have bought the stock before 30 March 2022. Payment date: 25 June 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 5.7%. Within top quartile of German dividend payers (3.6%). Higher than average of industry peers (3.8%).
Reported Earnings • Feb 09Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beatThird quarter 2022 results: EPS: JP¥21.17 (up from JP¥7.41 in 3Q 2021). Revenue: JP¥69.7b (up 18% from 3Q 2021). Net income: JP¥2.22b (up 182% from 3Q 2021). Profit margin: 3.2% (up from 1.3% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 16%. Over the next year, revenue is forecast to grow 3.3%, compared to a 9.9% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance.
Reported Earnings • Nov 10Second quarter 2022 earnings released: JP¥70.71 loss per share (vs JP¥6.56 profit in 2Q 2021)The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2022 results: Revenue: JP¥55.3b (up 4.8% from 2Q 2021). Net loss: JP¥7.40b (down JP¥8.10b from profit in 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance.
Valuation Update With 7 Day Price Move • Nov 09Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to €5.00, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Construction industry in Europe. Total loss to shareholders of 34% over the past three years.
Reported Earnings • Aug 13First quarter 2022 earnings released: JP¥2.55 loss per share (vs JP¥0.56 profit in 1Q 2021)The company reported a mediocre first quarter result with weaker earnings and weaker control over costs, although revenues improved. First quarter 2022 results: Revenue: JP¥56.3b (up 32% from 1Q 2021). Net loss: JP¥267.0m (down JP¥327.0m from profit in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.
Board Change • Jul 31High number of new directorsIndependent External Director Kunihiro Koshizuka was the last director to join the board, commencing their role in 2021.
Reported Earnings • May 14Full year 2021 earnings released: EPS JP¥24.95 (vs JP¥140 in FY 2020)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥231.5b (down 28% from FY 2020). Net income: JP¥2.65b (down 82% from FY 2020). Profit margin: 1.1% (down from 4.6% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings.
Valuation Update With 7 Day Price Move • May 13Investor sentiment improved over the past weekAfter last week's 16% share price gain to JP¥4.94, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 15x in the Construction industry in Europe. Total loss to shareholders of 40% over the past three years.
Upcoming Dividend • Mar 23Upcoming dividend of JP¥10.00 per shareEligible shareholders must have bought the stock before 30 March 2021. Payment date: 25 June 2021. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (3.3%).
Is New 90 Day High Low • Mar 06New 90-day high: €4.44The company is up 17% from its price of €3.80 on 04 December 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is down 9.0% over the same period.
공고 • Mar 06Tokyu Construction Co., Ltd. to Report Fiscal Year 2021 Results on May 12, 2021Tokyu Construction Co., Ltd. announced that they will report fiscal year 2021 results on May 12, 2021
Reported Earnings • Feb 12Third quarter 2021 earnings released: EPS JP¥7.41 (vs JP¥10.75 in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥59.2b (down 8.5% from 3Q 2020). Net income: JP¥787.0m (down 31% from 3Q 2020). Profit margin: 1.3% (down from 1.8% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year whereas the company’s share price has fallen by 21% per year.
Analyst Estimate Surprise Post Earnings • Feb 12Revenue misses expectationsRevenue missed analyst estimates by 4.9%. Over the next year, revenue is forecast to grow 4.7%, compared to a 5.6% growth forecast for the Construction industry in Germany.
Is New 90 Day High Low • Feb 04New 90-day high: €4.22The company is up 10.0% from its price of €3.84 on 06 November 2020. The German market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 20% over the same period.
Is New 90 Day High Low • Jan 14New 90-day high: €4.02The company is up 8.0% from its price of €3.72 on 16 October 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 23% over the same period.
공고 • Dec 19Tokyu Construction Co., Ltd. to Report Q3, 2021 Results on Feb 09, 2021Tokyu Construction Co., Ltd. announced that they will report Q3, 2021 results on Feb 09, 2021
Analyst Estimate Surprise Post Earnings • Nov 11Revenue misses expectationsRevenue missed analyst estimates by 4.7%. Over the next year, revenue is forecast to grow 2.4%, compared to a 1.3% growth forecast for the Construction industry in Germany.
Reported Earnings • Nov 11Second quarter 2021 earnings released: EPS JP¥6.56The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥52.7b (down 50% from 2Q 2020). Net income: JP¥699.0m (down 90% from 2Q 2020). Profit margin: 1.3% (down from 6.4% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings.
Is New 90 Day High Low • Nov 11New 90-day high: €3.96The company is up 3.0% from its price of €3.86 on 13 August 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is down 1.0% over the same period.
Is New 90 Day High Low • Oct 01New 90-day low: €3.60The company is down 16% from its price of €4.30 on 03 July 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Construction industry, which is down 19% over the same period.
공고 • Aug 23Tokyu Construction Co., Ltd. to Report Q2, 2021 Results on Nov 09, 2020Tokyu Construction Co., Ltd. announced that they will report Q2, 2021 results on Nov 09, 2020
공고 • Jun 21Tokyu Construction Co., Ltd. to Report Q1, 2021 Results on Aug 06, 2020Tokyu Construction Co., Ltd. announced that they will report Q1, 2021 results on Aug 06, 2020