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Toppan Printing

DB:TPX
Snowflake Description

Flawless balance sheet unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TPX
DB
¥573B
Market Cap
  1. Home
  2. DE
  3. Commercial Services
Company description

Toppan Printing Co., Ltd. develops solutions based on its printing technologies worldwide. The last earnings update was 63 days ago. More info.


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TPX Share Price and Events
7 Day Returns
1.1%
DB:TPX
3.7%
DE Commercial Services
2.5%
DE Market
1 Year Returns
3.8%
DB:TPX
-8.4%
DE Commercial Services
-6.7%
DE Market
TPX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Toppan Printing (TPX) 1.1% 6.8% -0.2% 3.8% -10% 41.6%
DE Commercial Services 3.7% 1.2% 12.5% -8.4% 3.6% -42.7%
DE Market 2.5% 3.3% 9.2% -6.7% 9% 13.5%
1 Year Return vs Industry and Market
  • TPX outperformed the Commercial Services industry which returned -8.4% over the past year.
  • TPX outperformed the Market in Germany which returned -6.7% over the past year.
Price Volatility
TPX
Industry
5yr Volatility vs Market

TPX Value

 Is Toppan Printing 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 Toppan Printing 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 Toppan Printing.

DB:TPX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.1%
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:TPX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.735 (1 + (1- 30.86%) (47.76%))
0.985
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.985 * 5.96%)
6.1%

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

The calculations below outline how an intrinsic value for Toppan Printing 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:TPX DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 6.1%)
2019 37,000.00 Analyst x2 34,873.94
2020 28,000.00 Analyst x2 24,874.63
2021 28,000.00 Analyst x2 23,445.31
2022 26,283.82 Est @ -6.13% 20,743.68
2023 25,174.11 Est @ -4.22% 18,726.24
2024 24,447.33 Est @ -2.89% 17,140.65
2025 23,969.99 Est @ -1.95% 15,840.28
2026 23,658.77 Est @ -1.3% 14,736.24
2027 23,459.93 Est @ -0.84% 13,772.74
2028 23,337.96 Est @ -0.52% 12,913.86
Present value of next 10 years cash flows ¥197,067.58
DB:TPX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ¥23,337.96 × (1 + 0.23%) ÷ (6.1% – 0.23%)
¥398,594.61
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥398,594.61 ÷ (1 + 6.1%)10
¥220,558.87
DB:TPX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥197,067.58 + ¥220,558.87
¥417,626.44
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥417,626.44 / 321.84
¥1297.64
DB:TPX Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:TPX represents 0.00782x of TSE:7911
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00782x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 1,297.64 x 0.00782
€10.15
Value per share (EUR) From above. €10.15
Current discount Discount to share price of €13.93
= -1 x (€13.93 - €10.15) / €10.15
-37.2%

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

  • The current share price of Toppan Printing 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 Toppan Printing's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Toppan Printing's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:TPX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in JPY ¥81.84
TSE:7911 Share Price ** TSE (2019-04-18) in JPY ¥1781
Europe Commercial Services Industry PE Ratio Median Figure of 105 Publicly-Listed Commercial Services Companies 16.91x
Germany Market PE Ratio Median Figure of 421 Publicly-Listed Companies 19.69x

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

** Primary Listing of Toppan Printing.

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

= TSE:7911 Share Price ÷ EPS (both in JPY)

= 1781 ÷ 81.84

21.76x

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

  • Toppan Printing is overvalued based on earnings compared to the Europe Commercial Services industry average.
  • Toppan Printing is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Toppan Printing's expected growth come at a high price?
Raw Data
DB:TPX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 21.76x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
0.2%per year
Europe Commercial Services Industry PEG Ratio Median Figure of 54 Publicly-Listed Commercial Services Companies 1.33x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 21.76x ÷ 0.2%

118.39x

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

  • Toppan Printing is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Toppan Printing's assets?
Raw Data
DB:TPX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in JPY ¥3,476.00
TSE:7911 Share Price * TSE (2019-04-18) in JPY ¥1781
Germany Commercial Services Industry PB Ratio Median Figure of 8 Publicly-Listed Commercial Services Companies 2.04x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.87x
DB:TPX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:7911 Share Price ÷ Book Value per Share (both in JPY)

= 1781 ÷ 3,476.00

0.51x

* Primary Listing of Toppan Printing.

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

  • Toppan Printing is good value based on assets compared to the DE Commercial Services industry average.
X
Value checks
We assess Toppan Printing'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 Commercial Services 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 Commercial Services industry average (and greater than 0)? (1 check)
  5. Toppan Printing has a total score of 1/6, 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.

TPX Future Performance

 How is Toppan Printing expected to perform in the next 1 to 3 years based on estimates from 2 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
0.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Toppan Printing expected to grow at an attractive rate?
  • Toppan Printing's earnings growth is positive but not above the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Toppan Printing's earnings growth is positive but not above the Germany market average.
  • Toppan Printing's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:TPX Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:TPX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 0.2%
DB:TPX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 0.8%
Germany Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 31.4%
Germany Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 3.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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:TPX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:TPX Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 1,483,800 89,200 31,700 2
2020-03-31 1,467,800 88,900 29,400 2
2019-03-31 1,458,550 81,800 34,500 2
DB:TPX Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2018-12-31 1,457,282 26,340
2018-09-30 1,446,610 84,716 34,809
2018-06-30 1,444,849 35,051
2018-03-31 1,452,751 71,816 42,267
2017-12-31 1,448,366 47,462
2017-09-30 1,444,935 64,262 37,070
2017-06-30 1,436,438 38,277
2017-03-31 1,431,595 90,826 32,535
2016-12-31 1,436,353 37,956
2016-09-30 1,444,852 110,106 38,185
2016-06-30 1,460,771 34,167
2016-03-31 1,474,682 101,631 35,245

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Toppan Printing's earnings are expected to grow by 0.2% yearly, however this is not considered high growth (20% yearly).
  • Toppan Printing's revenue is expected to grow by 0.8% 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:TPX 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 2 Analyst Estimates (S&P Global) See Below

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

DB:TPX Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 98.05 98.50 97.60 2.00
2020-03-31 91.20 95.70 86.70 2.00
2019-03-31 107.20 108.80 105.60 2.00
DB:TPX Past Financials Data
Date (Data in JPY Millions) EPS *
2018-12-31 81.84
2018-09-30 108.15
2018-06-30 108.90
2018-03-31 131.32
2017-12-31 147.46
2017-09-30 115.33
2017-06-30 119.24
2017-03-31 101.49
2016-12-31 118.56
2016-09-30 119.28
2016-06-30 106.72
2016-03-31 110.09

*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.
  • Toppan Printing is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Toppan Printing'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.
Toppan Printing 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.

TPX Past Performance

  How has Toppan Printing 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 Toppan Printing's growth in the last year to its industry (Commercial Services).
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.
  • Toppan Printing's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Toppan Printing's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Toppan Printing's 1-year earnings growth is negative, it can't be compared to the Europe Commercial Services industry average.
Earnings and Revenue History
Toppan Printing'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 Toppan Printing Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TPX Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,457,282.00 26,340.00 214,638.00 12,843.00
2018-09-30 1,446,610.00 34,809.00 206,458.00 13,606.00
2018-06-30 1,444,849.00 35,051.00 208,087.00 13,827.00
2018-03-31 1,452,751.00 42,267.00 208,347.00 13,667.00
2017-12-31 1,448,366.00 47,462.00 205,466.00 12,550.00
2017-09-30 1,444,935.00 37,070.00 209,664.00 12,538.00
2017-06-30 1,436,438.00 38,277.00 206,249.00 12,758.00
2017-03-31 1,431,595.00 32,535.00 204,499.00 13,292.00
2016-12-31 1,436,353.00 37,956.00 204,487.00 14,584.00
2016-09-30 1,444,852.00 38,185.00 204,185.00 14,403.00
2016-06-30 1,460,771.00 34,167.00 204,451.00 14,286.00
2016-03-31 1,474,682.00 35,245.00 203,024.00 13,845.00
2015-12-31 1,500,988.00 24,523.00 203,875.00 14,204.00
2015-09-30 1,523,522.00 24,620.00 202,997.00 14,159.00
2015-06-30 1,529,383.00 24,734.00 200,593.00 14,131.00
2015-03-31 1,526,914.00 22,868.00 199,313.00 14,265.00
2014-12-31 1,517,522.00 18,331.00 194,615.00 13,990.00
2014-09-30 1,512,967.00 18,816.00 195,877.00 14,324.00
2014-06-30 1,521,165.00 18,771.00 199,156.00 14,625.00
2014-03-31 1,532,042.00 20,621.00 201,444.00 14,872.00
2013-12-31 1,524,528.00 20,345.00 220,716.00 -483.00
2013-09-30 1,518,789.00 20,911.00 204,363.00 15,655.00
2013-06-30 1,504,205.00 22,195.00 201,661.00 15,857.00
2013-03-31 1,502,308.00 18,562.00 216,251.00
2012-12-31 1,500,351.00 10,417.00 206,228.00 15,807.00
2012-09-30 1,503,867.00 6,211.00 203,234.00 15,774.00
2012-06-30 1,515,542.00 3,034.00 202,106.00 16,083.00

*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.
  • Toppan Printing has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Toppan Printing used its assets less efficiently than the Europe Commercial Services industry average last year based on Return on Assets.
  • Toppan Printing's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Toppan Printing'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 Commercial Services 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.
Toppan Printing has a total score of 1/6, 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.

TPX Health

 How is Toppan Printing'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 Toppan Printing's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Toppan Printing is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Toppan Printing's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Toppan Printing'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 3x 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 Toppan Printing Company Filings, last reported 3 months ago.

DB:TPX Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,283,575.00 273,763.00 295,850.00
2018-09-30 1,411,983.00 256,542.00 305,937.00
2018-06-30 1,339,039.00 254,540.00 306,889.00
2018-03-31 1,303,673.00 256,404.00 317,394.00
2017-12-31 1,293,914.00 261,283.00 310,745.00
2017-09-30 1,237,360.00 259,334.00 347,195.00
2017-06-30 1,181,148.00 255,745.00 366,256.00
2017-03-31 1,171,958.00 251,838.00 372,373.00
2016-12-31 1,107,917.00 265,702.00 358,670.00
2016-09-30 1,069,694.00 310,369.00 407,288.00
2016-06-30 1,061,084.00 279,229.00 346,721.00
2016-03-31 1,066,850.00 281,109.00 342,131.00
2015-12-31 1,065,032.00 300,767.00 312,466.00
2015-09-30 1,058,369.00 306,696.00 332,468.00
2015-06-30 1,067,476.00 359,552.00 387,286.00
2015-03-31 1,082,841.00 357,842.00 383,593.00
2014-12-31 1,021,555.00 362,829.00 328,156.00
2014-09-30 911,314.00 328,173.00 321,987.00
2014-06-30 906,780.00 327,861.00 322,364.00
2014-03-31 913,105.00 329,419.00 316,506.00
2013-12-31 910,205.00 335,178.00 306,661.00
2013-09-30 908,494.00 295,668.00 272,177.00
2013-06-30 898,934.00 299,918.00 275,205.00
2013-03-31 888,422.00 293,871.00 266,890.00
2012-12-31 860,139.00 255,253.00 198,606.00
2012-09-30 860,395.00 254,233.00 212,541.00
2012-06-30 862,549.00 256,377.00 211,665.00
  • Toppan Printing's level of debt (21.3%) 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 (36.8% vs 21.3% today).
  • Debt is well covered by operating cash flow (30.9%, greater than 20% of total debt).
  • Toppan Printing earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Toppan Printing'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. Toppan Printing has a total score of 6/6, 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.

TPX Dividends

 What is Toppan Printing'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
2.25%
Current annual income from Toppan Printing dividends. Estimated to be 2.25% next year.
If you bought €2,000 of Toppan Printing shares you are expected to receive €45 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?
  • Toppan Printing's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • Toppan Printing's dividend is below the markets top 25% of dividend payers in Germany (3.74%).
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:TPX 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 2 Analyst Estimates (S&P Global) See Below
Germany Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 324 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

DB:TPX Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 40.00 2.00
2020-03-31 40.00 2.00
2019-03-31 40.00 2.00
DB:TPX Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-02-14 40.000 2.320
2019-02-12 40.000 2.317
2018-11-13 40.000 2.288
2018-11-09 40.000 2.380
2018-06-28 40.000 2.350
2018-05-11 40.000 2.231
2018-02-14 40.000 2.238
2018-02-09 40.000 2.184
2017-11-10 40.000 1.937
2017-11-08 40.000 1.761
2017-06-29 40.000 1.745
2017-05-12 40.000 1.629
2017-02-14 40.000 1.759
2017-02-10 40.000 1.782
2016-11-14 40.000 1.830
2016-11-11 40.000 2.033
2016-06-29 40.000 2.169
2016-05-13 40.000 2.097
2016-02-12 36.000 1.880
2016-02-10 36.000 1.905
2015-11-13 36.000 1.698
2015-11-11 36.000 1.681
2015-06-26 36.000 1.756
2015-05-12 36.000 1.701
2015-02-13 36.000 1.948
2015-02-12 36.000 2.166
2014-11-13 36.000 2.327
2014-11-11 36.000 2.373
2014-06-27 36.000 2.361
2014-05-08 36.000 2.380
2014-02-12 36.000 2.480
2014-02-07 36.000 2.418
2013-11-11 36.000 2.265
2013-11-07 36.000 2.381
2013-05-08 36.000 2.494
2013-02-13 36.000 2.704
2013-02-08 36.000 3.082
2012-11-09 36.000 3.445
2012-11-06 36.000 3.880
2012-08-07 36.000 3.933
2012-05-08 36.000 3.648
2012-02-07 36.000 2.998
2011-11-08 36.000 3.144
2011-08-05 36.000 3.157
2011-05-10 36.000 2.923
2011-02-10 44.000 3.269
2011-02-08 44.000 2.881
2010-11-11 44.000 2.993
2010-06-29 44.000 3.234
2010-05-12 44.000 2.849
2010-02-12 44.000 2.708
2010-02-09 44.000 2.870
2009-11-12 44.000 2.912
2009-05-12 44.000 2.526
2009-04-20 44.000 3.000

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 fallen over the past 10 years.
Current Payout to shareholders
What portion of Toppan Printing's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2x 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 Toppan Printing's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 Toppan Printing afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Toppan Printing has a total score of 2/6, see the detailed checks below.


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

TPX Management

 What is the CEO of Toppan Printing'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
Shingo Kaneko
COMPENSATION ¥184,000,000
AGE 68
TENURE AS CEO 8.8 years
CEO Bio

Mr. Shingo Kaneko is a Director of Toppan Forms Co., Ltd. since 2018. Mr. Kaneko has been President of Toppan Printing Co., Ltd. since June 2010 and is its Representative Director since 2010. He joined Toppan Printing Co., Ltd. in 1973 and was its Senior General Manager, Sales Department I, Commercial Printing Division since 2000, Head of Commercial Printing Subdivision, Commercial Printing Division since 2003, Representative Executive Vice President since 2009, Overseeing Sales, Management Audit Office, Public Relations Division, Corporate Planning Division, Cultural Project Division, Personnel & Labor Relations Division, and International Division and Head of Corporate Planning Division since 2006, Overseeing Management Audit Office and Business Innovation Division, He also oversaw Public Relations Division and Legal Affairs Division since 2008. Mr. Kaneko served as Senior Managing Director and General Manager of Corporate Planning Headquarters for Toppan Printing Co., Ltd. since June 2008 until 2009 and June 2006 respectively. Mr. Kaneko served as Managing Director for Toppan Printing Co., Ltd. since June 2006 until 2008. He served as Auditor of Pia Corp. since June 2008. Mr. Kaneko served as a Director of Toppan Printing Co., Ltd. since 2003 until 2010.

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

Average tenure of the Toppan Printing management team in years:

5.3
Average Tenure
  • The average tenure for the Toppan Printing management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Shingo Kaneko

TITLE
President & Representative Director
COMPENSATION
¥184M
AGE
68
TENURE
8.8 yrs

Takashi Kurobe

TITLE
Executive Officer of Finance & Account Division and Director

Makoto Arai

TITLE
Senior Managing Executive Officer of Information & Communication Division and Director
AGE
63
TENURE
4.3 yrs

Shinichi Okubo

TITLE
Senior Managing Executive Officer Personnel & Labor Relations Division and Director
TENURE
3.3 yrs

Yukio Maeda

TITLE
Executive VP & Director
TENURE
3.3 yrs

Atsushi Ito

TITLE
Senior Managing Executive Officer of Higashinihon Division & Director
TENURE
12.3 yrs

Hideharu Maro

TITLE
Executive VP & Representative Director
TENURE
8.3 yrs

Naoyuki Matsuda

TITLE
Senior Managing Executive Officer of Living & Industry Division and Director
TENURE
5.3 yrs

Nobuaki Sato

TITLE
Managing Executive Officer - Secure Business Sales Information & Communication Division and Director

Sumio Ezaki

TITLE
Senior Managing Executive Officer of Nishinihon Division & Director
Board of Directors Tenure

Average tenure and age of the Toppan Printing board of directors in years:

10.8
Average Tenure
68
Average Age
  • The average tenure for the Toppan Printing board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Naoki Adachi

TITLE
Chairman
COMPENSATION
¥205M
AGE
79
TENURE
8.8 yrs

Shingo Kaneko

TITLE
President & Representative Director
COMPENSATION
¥184M
AGE
68
TENURE
9.3 yrs

Takashi Kurobe

TITLE
Executive Officer of Finance & Account Division and Director

Makoto Arai

TITLE
Senior Managing Executive Officer of Information & Communication Division and Director
AGE
63
TENURE
11.3 yrs

Shinichi Okubo

TITLE
Senior Managing Executive Officer Personnel & Labor Relations Division and Director
TENURE
14.3 yrs

Yukio Maeda

TITLE
Executive VP & Director
TENURE
13.3 yrs

Atsushi Ito

TITLE
Senior Managing Executive Officer of Higashinihon Division & Director
TENURE
12.3 yrs

Hideharu Maro

TITLE
Executive VP & Representative Director
TENURE
10.3 yrs

Naoyuki Matsuda

TITLE
Senior Managing Executive Officer of Living & Industry Division and Director
TENURE
9.3 yrs

Nobuaki Sato

TITLE
Managing Executive Officer - Secure Business Sales Information & Communication Division and Director

Sumio Ezaki

TITLE
Senior Managing Executive Officer of Nishinihon Division & Director
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 Toppan Printing'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. Toppan Printing 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.

TPX News

Simply Wall St News

TPX Company Info

Description

Toppan Printing Co., Ltd. develops solutions based on its printing technologies worldwide. It operates through Information & Communication, Living & Industry, and Electronics segments. The company develops, manufactures, and sells small- and medium-sized TFT LCDs and organic EL displays; plans, manufactures, and sells calendars and character-related goods; manufactures and sells plastic and chemical products, lithium-ion battery packaging materials, printing inks, and surface treatment films; manufactures display-related and semiconductor-related, information and network, corrugated fiberboard, and packaging products; and procures and sells industrial materials. It is also involved in filling alcoholic beverages; clinical art and art instructor-related, publishing, character sales and licensing, catalog, label, magnetic media, industrial material, and IC-related businesses; and newspaper prepress and multicolor offset printing, Internet advertising media, map solution, contract gene analysis, and gene diagnosis reagent businesses. In addition, the company engages in the development and sale of art-related goods; environmental development planning, display design, and planning and producing visual and other media products; processing and binding printed matter; printing business forms; and the planning, production, prepress, printing, manufacturing, and sale of printing-related materials. Further, it provides smart card issuance-related, travel and human resources agency, filling, LSI design and turnkey, system development, shipping, warehousing, data printing, and insurance services; education and consultation services for invigorating individuals and workplaces; and sales and intermediary services for publishing and newspaper content. Additionally, the company is involved in the event planning and operation of Toppan hall; and operation of e-book store and distribution platform. Toppan Printing Co., Ltd. was founded in 1900 and is headquartered in Tokyo, Japan.

Details
Name: Toppan Printing Co., Ltd.
TPX
Exchange: DB
Founded: 1900
¥4,556,008,608
321,835,201
Website: http://www.toppan.co.jp
Address: Toppan Printing Co., Ltd.
1, Kanda Izumi-cho,
Chiyoda-ku,
Tokyo,
101-0024,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 7911 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
DB TPX Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
OTCPK TOPP.Y SPONSORED ADR Pink Sheets LLC US USD 28. Mar 1991
Number of employees
Current staff
Staff numbers
51,210
Toppan Printing employees.
Industry
Commercial Printing
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 21:06
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/04
Last earnings filing: 2019/02/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


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.