DB:TOH

Stock Analysis Report

Executive Summary

Toho Co., Ltd. engages in the motion picture, theatrical production, and real estate management businesses in Japan.


Snowflake Analysis

Solid track record with excellent balance sheet.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: TOH's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-6.3%

TOH

20.7%

DE Entertainment

7.3%

DE Market


1 Year Return

-24.6%

TOH

-8.9%

DE Entertainment

-17.7%

DE Market

Return vs Industry: TOH underperformed the German Entertainment industry which returned -8.9% over the past year.

Return vs Market: TOH underperformed the German Market which returned -17.7% over the past year.


Shareholder returns

TOHIndustryMarket
7 Day-6.3%20.7%7.3%
30 Day-1.5%-17.8%-17.9%
90 Day-27.6%-27.8%-25.8%
1 Year-23.5%-24.6%-7.6%-8.9%-15.1%-17.7%
3 Year12.8%8.5%-3.0%-7.7%-18.7%-25.6%
5 Year22.4%14.6%40.5%29.3%-17.7%-29.0%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

26.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TOH (€26.8) is trading below our estimate of fair value (€36.59)

Significantly Below Fair Value: TOH is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: TOH is good value based on its PE Ratio (16.5x) compared to the Entertainment industry average (29.6x).

PE vs Market: TOH is poor value based on its PE Ratio (16.5x) compared to the German market (16.4x).


Price to Earnings Growth Ratio

PEG Ratio: TOH is poor value based on its PEG Ratio (3.4x)


Price to Book Ratio

PB vs Industry: TOH is overvalued based on its PB Ratio (1.6x) compared to the DE Entertainment industry average (1x).


Next Steps

Future Growth

How is Toho forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

4.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TOH's forecast earnings growth (4.9% per year) is above the savings rate (-0.4%).

Earnings vs Market: TOH's earnings (4.9% per year) are forecast to grow slower than the German market (14.3% per year).

High Growth Earnings: TOH's earnings are forecast to grow, but not significantly.

Revenue vs Market: TOH's revenue (3.4% per year) is forecast to grow slower than the German market (4.1% per year).

High Growth Revenue: TOH's revenue (3.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TOH's Return on Equity is forecast to be low in 3 years time (9.3%).


Next Steps

Past Performance

How has Toho performed over the past 5 years?

7.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TOH has high quality earnings.

Growing Profit Margin: TOH's current net profit margins (13.8%) are higher than last year (12.1%).


Past Earnings Growth Analysis

Earnings Trend: TOH's earnings have grown by 7.7% per year over the past 5 years.

Accelerating Growth: TOH's earnings growth over the past year (23%) exceeds its 5-year average (7.7% per year).

Earnings vs Industry: TOH earnings growth over the past year (23%) exceeded the Entertainment industry -50.4%.


Return on Equity

High ROE: TOH's Return on Equity (9.6%) is considered low.


Next Steps

Financial Health

How is Toho's financial position?


Financial Position Analysis

Short Term Liabilities: TOH's short term assets (¥208.7B) exceed its short term liabilities (¥48.6B).

Long Term Liabilities: TOH's short term assets (¥208.7B) exceed its long term liabilities (¥48.6B).


Debt to Equity History and Analysis

Debt Level: TOH's debt to equity ratio (0.07%) is considered satisfactory.

Reducing Debt: TOH's debt to equity ratio has increased from 0.06% to 0.07% over the past 5 years.

Debt Coverage: TOH's debt is well covered by operating cash flow (17658.9%).

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


Balance Sheet

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

Debt Coverage by Assets: TOH's debt is covered by short term assets (assets are 740x debt).


Next Steps

Dividend

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

1.07%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: TOH's dividend (1.07%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.7%).

High Dividend: TOH's dividend (1.07%) is low compared to the top 25% of dividend payers in the German market (4.97%).


Stability and Growth of Payments

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

Growing Dividend: TOH's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (17.5%), TOH's dividend payments are well 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?

7.8yrs

Average board tenure


CEO

Yoshishige Shimatani (67yo)

8.83s

Tenure

Mr. Yoshishige Shimatani has been Executive Managing Director of Fuji Media Holdings, Inc. since July 3, 2017. Mr. Shimatani has been the President and General Manager of Film Division at Toho Co., Ltd. si ...


Board Members

NamePositionTenureCompensationOwnership
Yoshishige Shimatani
President8.83yrsno data0.0057% ¥281.2k
Toshiyuki Urai
MD, Head of Accounting & Finance16.83yrsno data0.019% ¥936.9k
Satoshi Chida
VP, GM of Film Division8.83yrsno datano data
Makoto Yamashita
Head of Real Estate Management & Director10.83yrsno data0.0051% ¥247.9k
Kazuhiko Seta
MD & Director7.83yrsno data0.0024% ¥118.3k
Atsuo Ikeda
Head of Theater & Director6.83yrsno data0.0018% ¥88.0k
Keiji Ota
Head of Film Business & Film Division6.83yrsno data0.0027% ¥132.0k
Takayuki Ikeda
Head of Advertising & Film Division and Director4.83yrsno data0.0015% ¥74.3k
Tatsuya Shimada
Directorno datano datano data
Tomoyasu Okimoto
Director3.83yrsno data0.0049% ¥239.6k

7.8yrs

Average Tenure

62.5yo

Average Age

Experienced Board: TOH's board of directors are considered experienced (7.8 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

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


Key Information

  • Name: Toho Co., Ltd.
  • Ticker: TOH
  • Exchange: DB
  • Founded: 1932
  • Industry: Movies and Entertainment
  • Sector: Media
  • Market Cap: JP¥583.029b
  • Listing Market Cap: JP¥4.890b
  • Shares outstanding: 177.48m
  • Website: https://www.toho.co.jp

Number of Employees


Location

  • Toho Co., Ltd.
  • Yurakucho 1-2-2
  • Chiyoda-ku
  • Tokyo
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
9602TSE (The Tokyo Stock Exchange)YesCommon StockJPJPYJan 1992
TOHDB (Deutsche Boerse AG)YesCommon StockDEEURJan 1992
TKCO.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJan 1992

Biography

Toho Co., Ltd. engages in the motion picture, theatrical production, and real estate management businesses in Japan. It is involved in producing, buying/selling, and renting movies; and producing and selling television programs, movie pamphlets, and video software. The company also engages in the planning, production, and performance of stage productions; and leasing of land/buildings, and others. Toho Co., Ltd. was founded in 1932 and is based in Tokyo, Japan. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/30 21:18
End of Day Share Price2020/03/30 00:00
Earnings2019/11/30
Annual Earnings2019/02/28


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.