DB:TPX

Stock Analysis Report

Executive Summary

Toppan Printing Co., Ltd. develops solutions based on its printing technologies worldwide.


Snowflake Analysis

Flawless balance sheet and good value.


Similar Companies

Share Price & News

How has Toppan Printing's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TPX has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-7.8%

TPX

-10.1%

DE Commercial Services

-9.1%

DE Market


1 Year Return

11.8%

TPX

-13.9%

DE Commercial Services

2.9%

DE Market

Return vs Industry: TPX exceeded the German Commercial Services industry which returned -13.9% over the past year.

Return vs Market: TPX exceeded the German Market which returned 2.9% over the past year.


Shareholder returns

TPXIndustryMarket
7 Day-7.8%-10.1%-9.1%
30 Day-16.8%-10.4%-7.2%
90 Day-14.0%-8.1%-6.5%
1 Year14.3%11.8%-10.8%-13.9%6.1%2.9%
3 Year-12.3%-17.7%-1.7%-10.2%3.5%-5.6%
5 Year30.2%17.5%-7.1%-20.1%8.0%-6.8%

Price Volatility Vs. Market

How volatile is Toppan Printing's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Toppan Printing undervalued compared to its fair value and its price relative to the market?

17.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TPX (€15.9) is trading below our estimate of fair value (€19)

Significantly Below Fair Value: TPX is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: TPX is good value based on its PE Ratio (6x) compared to the Commercial Services industry average (30.5x).

PE vs Market: TPX is good value based on its PE Ratio (6x) compared to the German market (19.9x).


Price to Earnings Growth Ratio

PEG Ratio: TPX's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: TPX is good value based on its PB Ratio (0.5x) compared to the DE Commercial Services industry average (3x).


Next Steps

Future Growth

How is Toppan Printing forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

-24.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TPX's earnings are forecast to decline over the next 3 years (-24.7% per year).

Earnings vs Market: TPX's earnings are forecast to decline over the next 3 years (-24.7% per year).

High Growth Earnings: TPX's earnings are forecast to decline over the next 3 years.

Revenue vs Market: TPX's revenue (0.4% per year) is forecast to grow slower than the German market (5.1% per year).

High Growth Revenue: TPX's revenue (0.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TPX's Return on Equity is forecast to be low in 3 years time (3%).


Next Steps

Past Performance

How has Toppan Printing performed over the past 5 years?

24.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TPX has a large one-off gain of ¥106.7B impacting its December 31 2019 financial results.

Growing Profit Margin: TPX's current net profit margins (7.2%) are higher than last year (1.8%).


Past Earnings Growth Analysis

Earnings Trend: TPX's earnings have grown significantly by 24.3% per year over the past 5 years.

Accelerating Growth: TPX's earnings growth over the past year (299.7%) exceeds its 5-year average (24.3% per year).

Earnings vs Industry: TPX earnings growth over the past year (299.7%) exceeded the Commercial Services industry 7.5%.


Return on Equity

High ROE: TPX's Return on Equity (7.7%) is considered low.


Next Steps

Financial Health

How is Toppan Printing's financial position?


Financial Position Analysis

Short Term Liabilities: TPX's short term assets (¥873.3B) exceed its short term liabilities (¥429.4B).

Long Term Liabilities: TPX's short term assets (¥873.3B) exceed its long term liabilities (¥416.4B).


Debt to Equity History and Analysis

Debt Level: TPX's debt to equity ratio (17.6%) is considered satisfactory.

Reducing Debt: TPX's debt to equity ratio has reduced from 35.5% to 17.6% over the past 5 years.

Debt Coverage: TPX's debt is well covered by operating cash flow (32.7%).

Interest Coverage: TPX earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: TPX has a high level of physical assets or inventory.

Debt Coverage by Assets: TPX's debt is covered by short term assets (assets are 3.5x debt).


Next Steps

Dividend

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

2.13%

Current Dividend Yield


Upcoming Dividend Payment

TodayFeb 29 2020Ex Dividend DateMar 30 2020Dividend Pay DateJun 28 202090 days from Ex DividendBuy in the next 30 days to receive upcoming dividend

Dividend Yield vs Market

Notable Dividend: TPX's dividend (2.08%) is higher than the bottom 25% of dividend payers in the German market (1.52%).

High Dividend: TPX's dividend (2.08%) is low compared to the top 25% of dividend payers in the German market (3.92%).


Stability and Growth of Payments

Stable Dividend: TPX's dividend payments have been volatile in the past 10 years.

Growing Dividend: TPX's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (12.4%), TPX's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.1yrs

Average management tenure


CEO

Hideharu Maro 0

1.1yrs

Tenure

Mr. Hideharu Maro serves as a Representative Director of Toppan Printing Co., Ltd. since 2018 and its President since 2019. He was an Executive Vice President of Toppan Printing Co., Ltd. since 2018, overs ...


Leadership Team

NamePositionTenureCompensationOwnership
Hideharu Maro
President & Representative Director1.1yrsno data0.013% ¥726.3k
Takashi Kurobe
Executive Officer of Finance & Accounting Division and Director0yrsno data0.0017% ¥94.5k
Makoto Arai
Senior Managing Executive Officer of Information & Communication Division and Director12.1yrsno data0.017% ¥931.3k
Shinichi Ohkubo
Executive VP15.1yrsno data0.024% ¥1.3m
Yukio Maeda
Executive VP & Director14.1yrsno data0.017% ¥947.1k
Nobuaki Sato
Managing Executive Officer of Secure Business Sales0yrsno data0.0088% ¥481.5k
Sumio Ezaki
Senior Managing Executive Officer0yrsno data0.0087% ¥473.8k
Yasuhiko Yamano
Sr. Managing Executive Officers of Mfg. Management Division & Quality Assurance Center and Director0yrsno data0.0087% ¥473.8k
Hiroshi Iwase
Managing Executive Officers0yrsno datano data
Yuichiro Kotani
Managing Executive Officer of Higashinihon Division & Diector1.1yrsno data0.0055% ¥300.0k

4.1yrs

Average Tenure

Experienced Management: TPX's management team is considered experienced (4.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Hideharu Maro
President & Representative Director1.1yrsno data0.013% ¥726.3k
Takashi Kurobe
Executive Officer of Finance & Accounting Division and Director0yrsno data0.0017% ¥94.5k
Makoto Arai
Senior Managing Executive Officer of Information & Communication Division and Director12.1yrsno data0.017% ¥931.3k
Shinichi Ohkubo
Executive VP15.1yrsno data0.024% ¥1.3m
Yukio Maeda
Executive VP & Director14.1yrsno data0.017% ¥947.1k
Sumio Ezaki
Senior Managing Executive Officer0yrsno data0.0087% ¥473.8k
Yasuhiko Yamano
Sr. Managing Executive Officers of Mfg. Management Division & Quality Assurance Center and Director0yrsno data0.0087% ¥473.8k
Yuichiro Kotani
Managing Executive Officer of Higashinihon Division & Diector1.1yrsno data0.0055% ¥300.0k
Mitsuhiro Nakao
Managing Exe. Officer of Info. Design Subdivision0yrsno data0.0061% ¥331.7k
Shingo Kaneko
Chairman1.1yrsJP¥190.00m0.028% ¥1.5m

11.6yrs

Average Tenure

64yo

Average Age

Experienced Board: TPX's board of directors are seasoned and experienced ( 11.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Toppan Printing Co., Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Toppan Printing Co., Ltd.
  • Ticker: TPX
  • Exchange: DB
  • Founded: 1900
  • Industry: Commercial Printing
  • Sector: Commercial Services
  • Market Cap: JP¥651.122b
  • Listing Market Cap: JP¥5.465b
  • Shares outstanding: 346.16m
  • Website: https://www.toppan.co.jp

Number of Employees


Location

  • Toppan Printing Co., Ltd.
  • 1, Kanda Izumi-cho
  • Chiyoda-ku
  • Tokyo
  • 101-0024
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TOPP.YOTCPK (Pink Sheets LLC)SPONSORED ADRUSUSDMar 1991
7911TSE (The Tokyo Stock Exchange)YesCommon StockJPJPYJan 1992
TPXDB (Deutsche Boerse AG)YesCommon StockDEEURJan 1992
TONP.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJan 1992

Biography

Toppan Printing Co., Ltd. develops solutions based on its printing technologies worldwide. It operates in three segments: Information & Communication, Living & Industry, and Electronics segments. The company 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, 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, 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; 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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/28 21:34
End of Day Share Price2020/02/28 00:00
Earnings2019/12/31
Annual Earnings2019/03/31


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.