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THK

DB:1TK
Snowflake Description

Excellent balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1TK
DB
¥319B
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

THK Co., Ltd. manufactures and supplies machinery components worldwide. The last earnings update was 64 days ago. More info.


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1TK Share Price and Events
7 Day Returns
-2.3%
DB:1TK
-2%
DE Machinery
-0.6%
DE Market
1 Year Returns
-10%
DB:1TK
-30.7%
DE Machinery
-8.3%
DE Market
1TK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
THK (1TK) -2.3% 5% -12% -10% 19.4% 14.8%
DE Machinery -2% -7.2% -16.3% -30.7% -22.8% 0.6%
DE Market -0.6% 1.8% -3.2% -8.3% 8.9% 10.6%
1 Year Return vs Industry and Market
  • 1TK outperformed the Machinery industry which returned -30.7% over the past year.
  • 1TK underperformed the Market in Germany which returned -8.3% over the past year.
Price Volatility
1TK
Industry
5yr Volatility vs Market
Related Companies

Value

 Is THK undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of THK to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for THK.

DB:1TK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 16 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:1TK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Machinery Unlevered Beta Simply Wall St/ S&P Global 1.08
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.082 (1 + (1- 30.86%) (32.97%))
1.221
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.22
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.221 * 5.96%)
7.5%

Discounted Cash Flow Calculation for DB:1TK using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for THK is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:1TK DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 7.5%)
2020 16,672.29 Analyst x7 15,508.78
2021 23,916.17 Analyst x6 20,694.58
2022 23,466.00 Analyst x1 18,888.03
2023 21,855.00 Analyst x1 16,363.67
2024 20,781.61 Est @ -4.91% 14,474.11
2025 20,081.36 Est @ -3.37% 13,010.32
2026 19,621.43 Est @ -2.29% 11,825.19
2027 19,320.28 Est @ -1.53% 10,831.12
2028 19,125.93 Est @ -1.01% 9,973.90
2029 19,004.33 Est @ -0.64% 9,218.87
Present value of next 10 years cash flows ¥140,788.56
DB:1TK DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥19,004.33 × (1 + 0.23%) ÷ (7.5% – 0.23%)
¥261,850.92
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥261,850.92 ÷ (1 + 7.5%)10
¥127,022.04
DB:1TK Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥140,788.56 + ¥127,022.04
¥267,810.61
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥267,810.61 / 126.57
¥2115.94
DB:1TK Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:1TK represents 0.00805x of TSE:6481
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00805x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 2,115.94 x 0.00805
€17.04
Value per share (EUR) From above. €17.04
Current discount Discount to share price of €20.32
= -1 x (€20.32 - €17.04) / €17.04
-19.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of THK is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for THK's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are THK's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:1TK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in JPY ¥251.77
TSE:6481 Share Price ** TSE (2019-07-18) in JPY ¥2523
Germany Machinery Industry PE Ratio Median Figure of 37 Publicly-Listed Machinery Companies 14.37x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.71x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of THK.

DB:1TK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:6481 Share Price ÷ EPS (both in JPY)

= 2523 ÷ 251.77

10.02x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • THK is good value based on earnings compared to the DE Machinery industry average.
  • THK is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does THK's expected growth come at a high price?
Raw Data
DB:1TK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.02x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts
9.8%per year
Germany Machinery Industry PEG Ratio Median Figure of 29 Publicly-Listed Machinery Companies 1.3x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

DB:1TK PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.02x ÷ 9.8%

1.02x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • THK is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on THK's assets?
Raw Data
DB:1TK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in JPY ¥2,266.50
TSE:6481 Share Price * TSE (2019-07-18) in JPY ¥2523
Germany Machinery Industry PB Ratio Median Figure of 47 Publicly-Listed Machinery Companies 1.5x
Germany Market PB Ratio Median Figure of 569 Publicly-Listed Companies 1.75x
DB:1TK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:6481 Share Price ÷ Book Value per Share (both in JPY)

= 2523 ÷ 2,266.50

1.11x

* Primary Listing of THK.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • THK is good value based on assets compared to the DE Machinery industry average.
X
Value checks
We assess THK's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Machinery industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Machinery industry average (and greater than 0)? (1 check)
  5. THK has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is THK expected to perform in the next 1 to 3 years based on estimates from 16 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is THK expected to grow at an attractive rate?
  • THK's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • THK's earnings growth is positive but not above the Germany market average.
  • THK's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:1TK Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:1TK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts 9.8%
DB:1TK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 16 Analysts 4.3%
Germany Machinery Industry Earnings Growth Rate Market Cap Weighted Average 11.1%
Germany Machinery Industry Revenue Growth Rate Market Cap Weighted Average 5.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.2%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:1TK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:1TK Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 365,800 48,855 31,750 2
2022-12-31 358,200 50,466 32,600 2
2021-12-31 337,469 45,144 28,877 13
2020-12-31 317,784 40,776 24,307 16
2019-12-31 305,604 52,539 21,556 15
DB:1TK Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-03-31 342,418 31,866
2018-12-31 353,479 55,177 35,400
2017-12-31 382,137 34,155 34,305
2017-09-30 339,713 39,572 29,305
2017-06-30 328,856 24,925
2017-03-31 273,577 40,175 16,731
2016-12-31 270,182 13,483
2016-09-30 264,524 30,807 11,094
2016-06-30 252,943 8,928

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • THK's earnings are expected to grow by 9.8% yearly, however this is not considered high growth (20% yearly).
  • THK's revenue is expected to grow by 4.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:1TK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below

All data from THK Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1TK Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 200.68 200.68 200.68 1.00
2022-12-31 237.03 237.03 237.03 1.00
2021-12-31 229.18 295.90 132.73 14.00
2020-12-31 192.18 235.45 116.14 17.00
2019-12-31 169.18 213.32 135.11 16.00
DB:1TK Past Financials Data
Date (Data in JPY Millions) EPS *
2019-03-31 251.77
2018-12-31 279.69
2017-12-31 271.04
2017-09-30 231.52
2017-06-30 196.91
2017-03-31 132.17
2016-12-31 106.51
2016-09-30 87.64
2016-06-30 70.53

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • THK is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess THK's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
THK has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has THK performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare THK's growth in the last year to its industry (Machinery).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • THK's year on year earnings growth rate has been positive over the past 5 years.
  • THK's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • THK's 1-year earnings growth is negative, it can't be compared to the DE Machinery industry average.
Earnings and Revenue History
THK's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from THK Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1TK Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 342,418.00 31,866.00 43,700.00 5,149.00
2018-12-31 353,479.00 35,400.00 43,809.00 5,149.00
2017-12-31 382,137.24 34,305.32 47,706.65 5,312.00
2017-09-30 339,713.00 29,305.00 45,268.00 4,653.00
2017-06-30 328,856.00 24,925.00 43,832.00 4,653.00
2017-03-31 273,577.00 16,731.00 37,946.00 4,653.00
2016-12-31 270,182.00 13,483.00 38,715.00 4,602.00
2016-09-30 264,524.00 11,094.00 38,033.00 4,602.00
2016-06-30 252,943.00 8,928.00 37,729.00 4,602.00
2016-03-31 240,478.00 13,575.00 37,495.00 4,602.00
2015-12-31 230,112.00 15,773.00 42,933.00
2015-09-30 223,657.00 19,527.00 41,469.00
2015-06-30 221,893.00 23,218.00 34,190.00 4,498.00
2015-03-31 217,678.00 22,705.00 38,276.00
2014-12-31 208,973.00 22,208.00 31,506.00 4,377.00
2014-09-30 202,574.00 19,349.00 30,775.00 4,377.00
2014-06-30 194,319.00 16,523.00 30,146.00 4,377.00
2014-03-31 185,466.00 15,590.00 35,178.00
2013-12-31 176,756.00 15,091.00 29,512.00 3,932.00
2013-09-30 170,033.00 13,194.00 28,825.00 3,932.00
2013-06-30 165,736.00 12,229.00 28,143.00 3,932.00
2013-03-31 168,366.00 9,809.00 32,175.00
2012-12-31 173,622.00 10,549.00 27,532.00 3,899.00
2012-09-30 181,090.00 10,272.00 28,122.00 3,899.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • THK has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • THK used its assets more efficiently than the DE Machinery industry average last year based on Return on Assets.
  • THK has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess THK's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Machinery industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
THK has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is THK's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up THK's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • THK is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • THK's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of THK's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from THK Company Filings, last reported 3 months ago.

DB:1TK Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 298,156.00 105,295.00 159,958.00
2018-12-31 294,718.00 67,480.00 134,513.00
2017-12-31 281,753.00 69,665.00 129,920.00
2017-09-30 271,872.00 82,665.00 139,134.00
2017-06-30 257,113.00 82,665.00 134,182.00
2017-03-31 251,539.00 82,665.00 137,345.00
2016-12-31 227,126.00 84,850.00 123,694.00
2016-09-30 227,235.00 84,850.00 123,766.00
2016-06-30 241,273.00 84,930.00 124,429.00
2016-03-31 250,539.00 85,533.00 126,964.00
2015-12-31 250,021.00 87,247.00 123,468.00
2015-09-30 255,023.00 84,133.00 127,951.00
2015-06-30 248,446.00 60,000.00 148,632.00
2015-03-31 250,498.00 60,000.00 155,239.00
2014-12-31 234,011.00 60,000.00 140,894.00
2014-09-30 222,433.00 60,000.00 139,546.00
2014-06-30 219,941.00 70,000.00 145,072.00
2014-03-31 222,148.00 60,000.00 138,343.00
2013-12-31 208,639.00 80,000.00 148,221.00
2013-09-30 207,544.00 80,000.00 147,708.00
2013-06-30 198,499.00 80,000.00 139,949.00
2013-03-31 189,058.00 60,000.00 115,968.00
2012-12-31 175,888.00 60,097.00 107,826.00
2012-09-30 176,997.00 60,083.00 111,949.00
  • THK's level of debt (35.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (27.4% vs 35.3% today).
  • Debt is well covered by operating cash flow (52.4%, greater than 20% of total debt).
  • THK earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess THK's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. THK has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is THK's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.37%
Current annual income from THK dividends. Estimated to be 2.38% next year.
If you bought €2,000 of THK shares you are expected to receive €67 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • THK's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • THK's dividend is below the markets top 25% of dividend payers in Germany (3.85%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:1TK Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
Germany Machinery Industry Average Dividend Yield Market Cap Weighted Average of 30 Stocks 2.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:1TK Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 85.00 1.00
2022-12-31 85.00 1.00
2021-12-31 68.33 12.00
2020-12-31 60.19 15.00
2019-12-31 50.02 15.00
DB:1TK Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-02-14 85.000 3.245
2018-03-19 62.000 2.119
2017-11-13 56.000 1.286
2017-06-19 41.000 1.132
2017-05-11 41.000 1.332
2017-02-13 32.000 1.103
2017-02-10 32.000 1.093
2016-11-11 32.000 1.226
2016-11-10 32.000 1.398
2016-06-20 50.000 2.544
2016-05-12 50.000 2.475
2016-02-10 50.000 2.428
2015-11-12 55.000 2.553
2015-09-03 56.000 2.655
2015-05-14 56.000 2.214
2015-02-09 40.000 1.342
2015-02-06 40.000 1.456
2014-11-07 40.000 1.401
2014-11-06 40.000 1.433
2014-08-07 36.000 1.395
2014-06-23 36.000 1.445
2014-05-13 36.000 1.578
2014-02-07 22.000 0.985
2013-11-07 22.000 0.919
2013-08-07 22.000 1.053
2013-05-09 22.000 1.007
2013-02-12 18.000 0.974
2012-11-13 18.000 1.213
2012-06-18 24.000 1.827
2012-05-10 24.000 1.602
2012-02-13 18.000 1.081
2012-02-10 18.000 1.108
2011-11-11 18.000 1.152
2011-08-10 22.000 1.537
2011-06-20 16.000 0.801
2011-05-12 22.000 1.117
2011-02-09 16.000 0.780
2010-11-12 16.000 0.826
2010-08-10 16.000 1.030
2010-06-21 16.000 0.883
2010-05-13 16.000 0.823
2010-02-12 15.000 0.782
2010-02-05 15.000 0.869
2009-11-30 15.000 0.876
2009-11-13 15.000 1.055
2009-11-12 15.000 0.983
2009-08-07 15.000 0.899
2009-05-18 15.000 1.023
2009-02-13 16.000 1.241
2009-02-05 16.000 1.331
2008-11-12 24.000 2.367

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of THK's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess THK's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can THK afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. THK has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of THK's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Akihiro Teramachi
COMPENSATION ¥152,000,000
AGE 68
CEO Bio

Mr. Akihiro Teramachi serves as the Chief Executive Officer of THK Co., Ltd. and has been its President since January 1997. Mr. Teramachi serves as Chairman of Nano Control Co., Ltd., Talk System Co., Ltd. and THK America, Inc. Mr. Teramachi serves as Vice Chairman of Samick THK Co., Ltd. He serves as a Director of THK Co., Ltd.

CEO Compensation
  • Akihiro's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Akihiro's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the THK management team in years:

3.7
Average Tenure
63
Average Age
  • The tenure for the THK management team is about average.
Management Team

Akihiro Teramachi

TITLE
CEO, President & Director
COMPENSATION
¥152M
AGE
68

Hiroshi Imano

TITLE
CFO, Executive VP & Director
AGE
65

Katsumi Fujita

TITLE
Head of Human Resources & General Affairs Department

Toshihiro Teramachi

TITLE
Executive VP
AGE
61
TENURE
7.1 yrs

Masato Sawada

TITLE
Managing Exec. Officer
TENURE
3.7 yrs

Takashi Okubo

TITLE
Managing Executive Officer
AGE
63

Nobuyuki Maki

TITLE
Senior Managing Executive Officer
AGE
59
TENURE
3.7 yrs

Tetsuya Hayashida

TITLE
Managing Executive Officer & Special Appointive Officer to President
TENURE
2.1 yrs

Junji Shimomaki

TITLE
Managing Exec. Officer
AGE
66
TENURE
3.1 yrs

Takanobu Hoshino

TITLE
Managing Exec. Officer & GM of IMT Division - Industrial Machinery Headquarters
AGE
59
Board of Directors Tenure

Average tenure and age of the THK board of directors in years:

7.1
Average Tenure
63
Average Age
  • The tenure for the THK board of directors is about average.
Board of Directors

Akihiro Teramachi

TITLE
CEO, President & Director
COMPENSATION
¥152M
AGE
68

Hiroshi Imano

TITLE
CFO, Executive VP & Director
AGE
65
TENURE
7.1 yrs

Toshihiro Teramachi

TITLE
Executive VP
AGE
61
TENURE
7.1 yrs

Masato Sawada

TITLE
Managing Exec. Officer

Takashi Okubo

TITLE
Managing Executive Officer
AGE
63

Nobuyuki Maki

TITLE
Senior Managing Executive Officer
AGE
59
TENURE
9.1 yrs

Junji Shimomaki

TITLE
Managing Exec. Officer
AGE
66
TENURE
3.1 yrs

Takanobu Hoshino

TITLE
Managing Exec. Officer & GM of IMT Division - Industrial Machinery Headquarters
AGE
59

Takashi Teramachi

TITLE
Senior Managing Exec. Officer
AGE
41
TENURE
5.1 yrs

Junichi Sakai

TITLE
Director
AGE
72
TENURE
15.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess THK's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. THK has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

THK Co., Ltd. manufactures and supplies machinery components worldwide. It provides linear motion (LM) guides, LM actuators, spline nuts, LM strokes, cross roller guides, linear ball slides, flat rollers, slide rails, LM guide actuators, ball splines, linear bushes, precision linear packs, cross roller tables, LM rollers, and slide packs. The company offers ball screws, screw nuts, change nuts, double-row angular contact roller rings, cross roller rings, cam followers, roller followers, spherical plain bearings, link balls, rod ends, actuators, lubrication accessories, and seismic isolation products. In addition, it offers automotive and transportation equipment-related parts, such as suspension arms, height sensor joints, stabilizer connecting rods, steering tie rods, steering linkages, and suspension ball joints. The company’s products are used in various applications, including machine tools, general industrial machinery, precision instruments, semiconductor and LCD manufacturing equipment, industrial robots, electronic devices, and transport systems, as well as in construction, aerospace, medical and assistive, and other manufacturing industries. The company was founded in 1971 and is headquartered in Tokyo, Japan.

Details
Name: THK Co., Ltd.
1TK
Exchange: DB
Founded: 1971
¥2,639,217,379
126,568,007
Website: http://www.thk.com
Address: THK Co., Ltd.
2-12-10,
Shibaura,
Tokyo,
108-8506,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 6481 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
OTCPK THKL.F Common Stock Pink Sheets LLC US USD 06. Jan 1992
DB 1TK Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
OTCPK THKL.Y UNSPONSOD ADR Pink Sheets LLC US USD 13. Oct 2008
Number of employees
Current staff
Staff numbers
13,478
THK employees.
Industry
Industrial Machinery
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 22:13
End of day share price update: 2019/07/18 00:00
Last estimates confirmation: 2019/07/15
Last earnings filing: 2019/05/15
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.