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Taisei

DB:TKK1
Snowflake Description

Excellent balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TKK1
DB
¥946B
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Taisei Corporation engages in the civil engineering, building construction, and real estate development businesses in Japan and internationally. The last earnings update was 12 days ago. More info.


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TKK1 Share Price and Events
7 Day Returns
-2.2%
DB:TKK1
0.8%
DE Construction
-0%
DE Market
1 Year Returns
-24.6%
DB:TKK1
-24.7%
DE Construction
-11.5%
DE Market
TKK1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Taisei (TKK1) -2.2% -6.8% -12.5% -24.6% 10.3% 88.6%
DE Construction 0.8% -12.5% -13.5% -24.7% 2.9% 66.7%
DE Market -0% -3.3% 2.1% -11.5% 8.9% 8.1%
1 Year Return vs Industry and Market
  • TKK1 underperformed the Market in Germany which returned -11.5% over the past year.
Price Volatility
TKK1
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Taisei's competitors could be found in our database.

TKK1 Value

 Is Taisei 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 Taisei 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 Taisei.

DB:TKK1 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.7%
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:TKK1
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Construction Unlevered Beta Simply Wall St/ S&P Global 0.98
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.983 (1 + (1- 30.86%) (23.07%))
1.094
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.09
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.094 * 5.96%)
6.75%

Discounted Cash Flow Calculation for DB:TKK1 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Taisei 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:TKK1 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 6.75%)
2019 35,657.33 Analyst x3 33,403.21
2020 106,899.83 Analyst x6 93,811.41
2021 106,870.83 Analyst x6 87,857.16
2022 103,850.00 Analyst x2 79,976.76
2023 101,835.38 Est @ -1.94% 73,467.51
2024 100,522.16 Est @ -1.29% 67,935.65
2025 99,683.52 Est @ -0.83% 63,110.06
2026 99,169.55 Est @ -0.52% 58,815.65
2027 98,879.46 Est @ -0.29% 54,936.37
2028 98,744.62 Est @ -0.14% 51,393.32
Present value of next 10 years cash flows ¥664,707.10
DB:TKK1 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ¥98,744.62 × (1 + 0.23%) ÷ (6.75% – 0.23%)
¥1,517,887.77
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥1,517,887.77 ÷ (1 + 6.75%)10
¥790,010.52
DB:TKK1 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥664,707.10 + ¥790,010.52
¥1,454,717.62
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥1,454,717.62 / 218.12
¥6669.3
DB:TKK1 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:TKK1 represents 0.00803x of TSE:1801
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00803x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 6,669.30 x 0.00803
€53.54
Value per share (EUR) From above. €53.54
Current discount Discount to share price of €34.80
= -1 x (€34.80 - €53.54) / €53.54
35%

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

Current Discount
Amount off the current price Taisei is available for.
Intrinsic value
35%
Share price is €34.8 vs Future cash flow value of €53.54
Current Discount Checks
For Taisei to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Taisei's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Taisei's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Taisei's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Taisei's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:TKK1 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in JPY ¥511.90
TSE:1801 Share Price ** TSE (2019-05-22) in JPY ¥4335
Europe Construction Industry PE Ratio Median Figure of 97 Publicly-Listed Construction Companies 10.68x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 20.26x

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

** Primary Listing of Taisei.

DB:TKK1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:1801 Share Price ÷ EPS (both in JPY)

= 4335 ÷ 511.90

8.47x

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

  • Taisei is good value based on earnings compared to the Europe Construction industry average.
  • Taisei is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Taisei's expected growth come at a high price?
Raw Data
DB:TKK1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.47x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
-0.5%per year
Europe Construction Industry PEG Ratio Median Figure of 46 Publicly-Listed Construction Companies 1.16x
Germany Market PEG Ratio Median Figure of 271 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

DB:TKK1 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.47x ÷ -0.5%

-17.42x

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

  • Taisei earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Taisei's assets?
Raw Data
DB:TKK1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in JPY ¥3,302.33
TSE:1801 Share Price * TSE (2019-05-22) in JPY ¥4335
Europe Construction Industry PB Ratio Median Figure of 132 Publicly-Listed Construction Companies 1.12x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.78x
DB:TKK1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:1801 Share Price ÷ Book Value per Share (both in JPY)

= 4335 ÷ 3,302.33

1.31x

* Primary Listing of Taisei.

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

  • Taisei is overvalued based on assets compared to the Europe Construction industry average.
X
Value checks
We assess Taisei'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 Construction 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 Construction industry average (and greater than 0)? (1 check)
  5. Taisei 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.

TKK1 Future Performance

 How is Taisei expected to perform in the next 1 to 3 years based on estimates from 8 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
-0.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Taisei expected to grow at an attractive rate?
  • Taisei's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Taisei's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Taisei's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:TKK1 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:TKK1 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts -0.5%
DB:TKK1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 1.2%
Europe Construction Industry Earnings Growth Rate Market Cap Weighted Average 13.1%
Europe Construction Industry Revenue Growth Rate Market Cap Weighted Average 2.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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:TKK1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:TKK1 Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-03-31 1,728,700 114,900 1
2022-03-31 1,708,240 115,850 108,240 5
2021-03-31 1,722,436 118,704 111,350 8
2020-03-31 1,712,600 118,400 107,164 4
DB:TKK1 Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-03-31 1,650,877 -71,028 112,571
2018-12-31 1,600,020 108,047
2018-09-30 1,604,798 76,719 117,856
2018-06-30 1,583,468 119,998
2018-03-31 1,585,497 207,020 126,788
2017-12-31 1,551,211 94,877
2017-09-30 1,526,220 237,805 99,515
2017-06-30 1,510,179 98,225
2017-03-31 1,487,252 218,158 90,566
2016-12-31 1,450,546 99,450
2016-09-30 1,465,208 133,479 80,686
2016-06-30 1,511,004 73,605

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Taisei's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Taisei's revenue is expected to grow by 1.2% 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:TKK1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Taisei Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TKK1 Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-03-31
2022-03-31 505.89 599.70 452.04 4.00
2021-03-31 522.02 579.20 468.04 8.00
2020-03-31 500.40 523.20 490.47 4.00
DB:TKK1 Past Financials Data
Date (Data in JPY Millions) EPS *
2019-03-31 511.90
2018-12-31 487.93
2018-09-30 528.56
2018-06-30 534.30
2018-03-31 561.36
2017-12-31 417.84
2017-09-30 435.96
2017-06-30 428.35
2017-03-31 392.87
2016-12-31 429.14
2016-09-30 346.33
2016-06-30 314.67

*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.
  • Taisei is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Taisei'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Taisei has a total score of 0/6, 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.

TKK1 Past Performance

  How has Taisei 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 Taisei's growth in the last year to its industry (Construction).
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.
  • Taisei has delivered over 20% year on year earnings growth in the past 5 years.
  • Taisei's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Taisei's 1-year earnings growth is negative, it can't be compared to the Europe Construction industry average.
Earnings and Revenue History
Taisei'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 Taisei Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TKK1 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 1,650,877.00 112,571.00 88,136.00
2018-12-31 1,600,020.00 108,047.00 87,720.00
2018-09-30 1,604,798.00 117,856.00 86,602.00
2018-06-30 1,583,468.00 119,998.00 86,475.00
2018-03-31 1,585,497.00 126,788.00 84,758.00
2017-12-31 1,551,211.00 94,877.00 85,329.00
2017-09-30 1,526,220.00 99,515.00 85,560.00
2017-06-30 1,510,179.00 98,225.00 85,258.00
2017-03-31 1,487,252.00 90,566.00 85,461.00
2016-12-31 1,450,546.00 99,450.00 84,052.00
2016-09-30 1,465,208.00 80,686.00 82,591.00
2016-06-30 1,511,004.00 73,605.00 82,200.00
2016-03-31 1,545,889.00 77,045.00 80,118.00
2015-12-31 1,615,762.00 63,578.00 79,631.00
2015-09-30 1,634,523.00 57,381.00 78,774.00
2015-06-30 1,615,996.00 53,198.00 76,933.00
2015-03-31 1,573,270.00 38,177.00 77,558.00
2014-12-31 1,622,451.00 37,248.00 77,625.00
2014-09-30 1,567,401.00 31,760.00 77,049.00
2014-06-30 1,536,903.00 29,473.00 77,157.00
2014-03-31 1,533,473.00 32,089.00 77,253.00
2013-12-31 1,474,472.00 30,013.00 73,710.00
2013-09-30 1,480,448.00 29,709.00 76,199.00
2013-06-30 1,445,320.00 23,905.00 76,863.00
2013-03-31 1,416,495.00 20,050.00 76,213.00
2012-12-31 1,375,260.00 21,017.00 79,501.00
2012-09-30 1,339,409.00 2,730.00 79,195.00
2012-06-30 1,329,977.00 -828.00 79,868.00

*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.
  • Taisei has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Taisei used its assets more efficiently than the Europe Construction industry average last year based on Return on Assets.
  • Taisei has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Taisei'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 Construction 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.
Taisei 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.

TKK1 Health

 How is Taisei'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 Taisei's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Taisei is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Taisei's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Taisei'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 5.5x 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 Taisei Company Filings, last reported 1 month ago.

DB:TKK1 Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 722,390.00 218,116.00 467,750.00
2018-12-31 657,432.00 210,857.00 353,646.00
2018-09-30 664,531.00 212,108.00 452,833.00
2018-06-30 656,966.00 221,335.00 586,691.00
2018-03-31 669,019.00 248,072.00 687,456.00
2017-12-31 629,228.00 232,499.00 402,061.00
2017-09-30 589,587.00 244,895.00 480,656.00
2017-06-30 581,370.00 232,534.00 517,542.00
2017-03-31 570,812.00 238,896.00 535,592.00
2016-12-31 559,705.00 232,222.00 236,142.00
2016-09-30 506,151.00 233,562.00 287,200.00
2016-06-30 494,022.00 254,659.00 352,768.00
2016-03-31 521,277.00 255,500.00 374,192.00
2015-12-31 520,799.00 253,417.00 178,083.00
2015-09-30 494,147.00 251,217.00 226,603.00
2015-06-30 496,747.00 264,589.00 330,744.00
2015-03-31 492,113.00 274,277.00 338,308.00
2014-12-31 425,516.00 310,704.00 167,202.00
2014-09-30 399,533.00 302,632.00 244,915.00
2014-06-30 383,638.00 312,739.00 296,143.00
2014-03-31 384,165.00 317,538.00 355,547.00
2013-12-31 391,564.00 366,211.00 174,264.00
2013-09-30 376,448.00 353,460.00 212,153.00
2013-06-30 352,123.00 372,499.00 220,525.00
2013-03-31 343,299.00 379,976.00 266,638.00
2012-12-31 311,490.00 405,453.00 134,220.00
2012-09-30 293,079.00 400,954.00 218,192.00
2012-06-30 287,261.00 419,287.00 185,966.00
  • Taisei's level of debt (30.2%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (82.6% vs 30.2% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Taisei earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Taisei'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. Taisei 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.

TKK1 Dividends

 What is Taisei'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
2.88%
Current annual income from Taisei dividends. Estimated to be 3.06% next year.
If you bought €2,000 of Taisei shares you are expected to receive €58 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?
  • Taisei's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Taisei's dividend is below the markets top 25% of dividend payers in Germany (3.86%).
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:TKK1 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 8 Analyst Estimates (S&P Global) See Below
Europe Construction Industry Average Dividend Yield Market Cap Weighted Average of 73 Stocks 3.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

DB:TKK1 Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2023-03-31
2022-03-31 133.00 4.00
2021-03-31 136.13 8.00
2020-03-31 127.00 5.00
DB:TKK1 Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2018-06-29 125.000 2.467
2018-05-11 125.000 2.040
2017-06-30 100.000 1.774
2017-05-12 100.000 2.044
2017-02-08 80.000 1.946
2016-11-11 80.000 1.967
2016-06-30 80.000 2.004
2016-05-13 80.000 1.985
2015-11-09 50.000 1.341
2015-06-29 40.000 1.046
2015-05-11 40.000 1.155
2014-06-30 30.000 0.948
2014-05-13 30.000 1.152
2014-02-07 25.000 1.096
2014-02-06 25.000 1.164
2013-11-13 25.000 1.088
2013-11-12 25.000 1.050
2013-06-28 25.000 1.145
2013-05-13 25.000 1.448
2013-02-08 25.000 1.784
2013-02-07 25.000 1.796
2012-11-13 25.000 1.969
2012-11-12 25.000 2.421
2012-08-08 25.000 2.293
2012-06-29 25.000 2.315
2012-05-14 25.000 2.575
2012-02-08 25.000 2.387
2012-02-07 25.000 2.343
2011-11-11 25.000 2.456
2011-11-10 25.000 2.336
2011-08-09 25.000 2.422
2011-06-30 25.000 2.697
2011-05-11 25.000 2.722
2011-02-09 25.000 2.552
2011-02-08 25.000 2.558
2010-11-12 25.000 2.559
2010-11-11 25.000 2.801
2010-06-30 25.000 2.851
2010-05-13 25.000 2.787
2010-02-10 25.000 2.538
2009-11-12 25.000 3.012
2009-08-05 25.000 2.651

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Taisei's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.8x 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 Taisei'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 Taisei afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Taisei has a total score of 4/6, see the detailed checks below.


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

TKK1 Management

 What is the CEO of Taisei'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
Yoshiyuki Murata
COMPENSATION ¥0
TENURE AS CEO 4.1 years
CEO Bio

Mr. Yoshiyuki Murata has been the Chief Executive Officer and President at Taisei Corporation since April 2015. Mr. Murata has been Representative Director at Taisei Corporation since June 2013. He joined Taisei Corporation in April 1977. He served as Executive Officer of Taisei Corporation since April 2011. He served as Managing Executive Officer of Taisei Corporation since April 2013.

CEO Compensation
  • Insufficient data for Yoshiyuki to compare compensation growth.
  • Yoshiyuki's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the Taisei management team in years:

5.1
Average Tenure
  • The average tenure for the Taisei management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Yoshiyuki Murata

TITLE
President
TENURE
4.1 yrs

Shigeyuki Sakurai

TITLE
Executive VP
TENURE
2.1 yrs

Kazuhiko Dai

TITLE
Chief of Mktg & Sales - Integrated & Civil Engg. Division
TENURE
8.1 yrs

Yasushi Yoshinari

TITLE
Managing Executive Officer
TENURE
4.1 yrs

Shigeyoshi Tanaka

TITLE
Executive VP
TENURE
6.1 yrs

Yoshitaka Inoue

TITLE
Managing Executive Officer & Chief of International Operations Headquarters

Masahiro Sakai

TITLE
Executive VP
TENURE
6.1 yrs

Yoshinobu Shigeji

TITLE
Senior Managing Executive Officer

Haruhiko Kono

TITLE
Senior Managing Executive Officer & Chief of Design Division

Shoji Kondo

TITLE
Senior Managing Executive Officer & Chief of Nagoya Branch
Board of Directors Tenure

Average tenure of the Taisei board of directors in years:

5.9
Average Tenure
  • The tenure for the Taisei board of directors is about average.
Board of Directors

Takashi Yamauchi

TITLE
Chairman
AGE
71
TENURE
4.1 yrs

Yoshiyuki Murata

TITLE
President
TENURE
5.9 yrs

Shigeyuki Sakurai

TITLE
Executive VP
TENURE
5.9 yrs

Kazuhiko Dai

TITLE
Chief of Mktg & Sales - Integrated & Civil Engg. Division
TENURE
5.9 yrs

Yasushi Yoshinari

TITLE
Managing Executive Officer
TENURE
3.9 yrs

Shigeyoshi Tanaka

TITLE
Executive VP
TENURE
3.9 yrs

Masahiro Sakai

TITLE
Executive VP
TENURE
5.9 yrs

Norihiko Yaguchi

TITLE
Senior Managing Execu. Officer
TENURE
3.9 yrs

Toru Tsuji

TITLE
External Director
TENURE
7.9 yrs

Fumio Sudo

TITLE
External Director
AGE
77
TENURE
7.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Taisei'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. Taisei 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.

TKK1 News

Simply Wall St News

TKK1 Company Info

Description

Taisei Corporation engages in the civil engineering, building construction, and real estate development businesses in Japan and internationally. The company is involved in the construction of tunnels, bridges, roads, and dams; and building social infrastructures, as well as offers decontamination, maintenance, and preservation services. It also constructs airports, office buildings, commercial facilities, factories, and hospitals, as well as provides renovation and demolition services. In addition, the company is involved in the redevelopment projects, PFI projects, property management, and condominium sales projects; and purchase, sale, and rental of land and buildings. Further, it engages in the contract research, technology provision, and environmental measurement; housing; and leisure businesses. The company was formerly known as Nippon Doboku Corporation and changed its name to Taisei Corporation in 1946. Taisei Corporation was founded in 1873 and is headquartered in Tokyo, Japan.

Details
Name: Taisei Corporation
TKK1
Exchange: DB
Founded: 1873
¥7,683,901,157
218,121,340
Website: http://www.taisei.co.jp
Address: Taisei Corporation
1-25-1, Nishi-Shinjuku,
Shinjuku-ku,
Tokyo,
163-0606,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 1801 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
OTCPK TISC.F Common Stock Pink Sheets LLC US USD 06. Jan 1992
DB TKK1 Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
OTCPK TISC.Y UNSPONSORED ADR Pink Sheets LLC US USD 15. Feb 1985
Number of employees
Current staff
Staff numbers
14,032
Taisei employees.
Industry
Construction and Engineering
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/22 21:33
End of day share price update: 2019/05/22 00:00
Last estimates confirmation: 2019/05/10
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


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.