Toho Valuation

Is TOH undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of TOH when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TOH (€37.4) is trading above our estimate of fair value (€29.65)

Significantly Below Fair Value: TOH is trading above our estimate of fair value.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for TOH?

Key metric: As TOH is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for TOH. This is calculated by dividing TOH's market cap by their current earnings.
What is TOH's PE Ratio?
PE Ratio20.6x
EarningsJP¥50.02b
Market CapJP¥1.03t

Price to Earnings Ratio vs Peers

How does TOH's PE Ratio compare to its peers?

The above table shows the PE ratio for TOH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21x
EVD CTS Eventim KGaA
31.4x13.2%€7.9b
EDL Edel SE KGaA
8x9.7%€98.3m
G24 Scout24
35.2x14.8%€6.2b
RRTL RTL Group
9.3x-2.6%€3.7b
TOH Toho
20.6x2.3%€1.0t

Price-To-Earnings vs Peers: TOH is good value based on its Price-To-Earnings Ratio (20.6x) compared to the peer average (20.9x).


Price to Earnings Ratio vs Industry

How does TOH's PE Ratio compare vs other companies in the European Entertainment Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
TOH 20.6xIndustry Avg. 14.4xNo. of Companies10PE01224364860+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TOH is expensive based on its Price-To-Earnings Ratio (20.6x) compared to the European Entertainment industry average (13.9x).


Price to Earnings Ratio vs Fair Ratio

What is TOH's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TOH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.6x
Fair PE Ratio17x

Price-To-Earnings vs Fair Ratio: TOH is expensive based on its Price-To-Earnings Ratio (20.6x) compared to the estimated Fair Price-To-Earnings Ratio (17x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst TOH forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€37.40
€40.23
+7.6%
5.4%€44.43€37.12n/a8
Nov ’25€35.00
€39.75
+13.6%
6.6%€44.40€35.89n/a8
Oct ’25€36.00
€40.14
+11.5%
7.9%€46.77€36.31n/a8
Sep ’25€34.60
€40.14
+16.0%
7.9%€46.77€36.31n/a8
Aug ’25€32.60
€38.83
+19.1%
9.1%€45.60€33.00n/a8
Jul ’25€27.40
€36.16
+32.0%
6.3%€39.84€32.23n/a8
Jun ’25€29.00
€36.16
+24.7%
6.3%€39.84€32.23n/a8
May ’25€31.20
€36.26
+16.2%
6.1%€40.26€32.56n/a7
Apr ’25€30.40
€36.60
+20.4%
4.7%€39.32€33.79n/a7
Mar ’25€29.80
€36.90
+23.8%
3.7%€39.14€35.47n/a6
Feb ’25€30.20
€38.01
+25.9%
3.9%€40.07€36.31n/a7
Jan ’25€30.20
€39.34
+30.3%
4.2%€42.18€37.06n/a7
Dec ’24€31.40
€39.95
+27.2%
4.2%€42.88€37.14n/a8
Nov ’24€32.20
€39.95
+24.1%
4.2%€42.88€37.14€35.008
Oct ’24€32.00
€40.86
+27.7%
3.5%€43.14€38.70€36.008
Sep ’24€35.40
€41.42
+17.0%
3.5%€43.57€39.73€34.608
Aug ’24€35.00
€41.16
+17.6%
4.1%€43.72€38.57€32.608
Jul ’24€34.00
€39.66
+16.6%
3.1%€41.44€37.62€27.407
Jun ’24€36.20
€41.06
+13.4%
3.2%€43.55€39.53€29.007
May ’24€35.40
€41.92
+18.4%
8.8%€50.24€36.66€31.208
Apr ’24€34.20
€43.45
+27.0%
9.5%€52.28€38.15€30.408
Mar ’24€32.00
€43.81
+36.9%
9.7%€52.29€38.16€29.807
Feb ’24€32.80
€43.81
+33.6%
9.7%€52.29€38.16€30.207
Jan ’24€35.20
€43.06
+22.3%
9.1%€50.58€36.91€30.207
Dec ’23€36.00
€43.81
+21.7%
9.1%€51.35€37.47€31.407
Nov ’23€35.40
€44.05
+24.4%
9.1%€51.39€37.50€32.207

Analyst Forecast: Target price is less than 20% higher than the current share price.


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