Toda Past Earnings Performance

Past criteria checks 4/6

Toda's earnings have been declining at an average annual rate of -18.5%, while the Construction industry saw earnings growing at 0.6% annually. Revenues have been growing at an average rate of 0.2% per year. Toda's return on equity is 4.7%, and it has net margins of 3.1%.

Key information

-18.5%

Earnings growth rate

-18.6%

EPS growth rate

Construction Industry Growth	0.8%
Revenue growth rate	0.2%
Return on equity	4.7%
Net Margin	3.1%
Last Earnings Update	31 Mar 2024

Recent past performance updates

Toda's (TSE:1860) Profits Appear To Have Quality Issues

May 22

Recent updates

Revenue & Expenses Breakdown

How Toda makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

TSE:1860 Revenue, expenses and earnings (JPY Millions)
Date	Revenue	Earnings	G+A Expenses
31 Mar 24	522,434	16,101	47,675
31 Dec 23	518,835	9,243	46,468
30 Sep 23	537,679	13,003	45,249
30 Jun 23	546,597	9,236	43,664
31 Mar 23	547,155	10,995	43,188
31 Dec 22	525,929	13,446	41,534
30 Sep 22	505,740	14,218	40,599
30 Jun 22	502,868	18,741	40,033
31 Mar 22	501,509	18,560	38,292
31 Dec 21	510,685	21,975	38,183
30 Sep 21	528,194	22,834	37,155
30 Jun 21	523,579	22,407	37,003
31 Mar 21	507,134	19,735	37,190
31 Dec 20	501,860	18,352	36,253
30 Sep 20	497,832	18,003	36,264
30 Jun 20	495,971	19,903	35,847
31 Mar 20	518,683	25,845	35,100
31 Dec 19	552,539	30,077	34,281
30 Sep 19	542,755	29,619	33,608
30 Jun 19	540,057	28,951	33,002
31 Mar 19	510,436	25,595	32,591
31 Dec 18	467,190	23,352	32,364
30 Sep 18	450,376	23,469	31,151
30 Jun 18	428,516	23,366	30,462
31 Mar 18	429,026	25,455	29,878
31 Dec 17	404,637	38,134	29,122
30 Sep 17	400,242	40,883	28,682
30 Jun 17	411,100	41,051	28,349
31 Mar 17	422,722	42,091	27,944
31 Dec 16	471,851	24,156	28,133
30 Sep 16	478,306	20,160	27,488
30 Jun 16	492,279	21,096	26,701
31 Mar 16	492,621	20,039	26,176
31 Dec 15	464,921	18,625	24,365
30 Sep 15	450,950	17,408	23,899
30 Jun 15	434,540	13,637	23,544
31 Mar 15	420,324	14,026	23,130
31 Dec 14	421,071	8,683	22,167
30 Sep 14	428,465	7,072	21,712
30 Jun 14	438,343	7,549	21,182
31 Mar 14	448,987	10,228	20,643
31 Dec 13	469,184	-2,784	20,761
30 Sep 13	492,605	-20,352	21,059
30 Jun 13	500,465	-53,991	21,822

Quality Earnings: 1860 has high quality earnings.

Growing Profit Margin: 1860's current net profit margins (3.1%) are higher than last year (2%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: 1860's earnings have declined by 18.5% per year over the past 5 years.

Accelerating Growth: 1860's earnings growth over the past year (46.4%) exceeds its 5-year average (-18.5% per year).

Earnings vs Industry: 1860 earnings growth over the past year (46.4%) exceeded the Construction industry 19.4%.

Toda Past Earnings Performance

Past criteria checks 4/6

Key information

Recent past performance updates

Toda's (TSE:1860) Profits Appear To Have Quality Issues

Full year 2024 earnings: EPS misses analyst expectations

Toda Corporation to Report Fiscal Year 2024 Results on May 15, 2024

Third quarter 2024 earnings released: EPS: JP¥4.56 (vs JP¥16.77 in 3Q 2023)

Toda Corporation to Report Q3, 2024 Results on Feb 13, 2024

Second quarter 2024 earnings: EPS and revenues miss analyst expectations

Recent updates

Toda's (TSE:1860) Profits Appear To Have Quality Issues

Full year 2024 earnings: EPS misses analyst expectations

Toda Corporation, Annual General Meeting, Jun 26, 2024

Toda Corporation Provides Consolidated and Non-Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2025

Returns On Capital At Toda (TSE:1860) Paint A Concerning Picture

Toda's (TSE:1860) Dividend Will Be ¥14.00

Upcoming dividend of JP¥14.00 per share

Toda (TSE:1860) Is Due To Pay A Dividend Of ¥14.00

Toda Corporation to Report Fiscal Year 2024 Results on May 15, 2024

Toda (TSE:1860) Has Announced A Dividend Of ¥14.00

Third quarter 2024 earnings released: EPS: JP¥4.56 (vs JP¥16.77 in 3Q 2023)

New major risk - Financial position

Price target increased by 14% to JP¥803

Price target increased by 8.8% to JP¥740

Toda Corporation to Report Q3, 2024 Results on Feb 13, 2024

Second quarter 2024 earnings: EPS and revenues miss analyst expectations

Upcoming dividend of JP¥14.00 per share at 3.3% yield

New major risk - Dividend sustainability

First quarter 2024 earnings released: EPS: JP¥6.20 (vs JP¥11.94 in 1Q 2023)

Toda Corporation announced that it has received funding from Monex Ventures Co., Ltd., Toranomon Impact Capital LLC.

Consensus EPS estimates increase by 11%, revenue downgraded

Toda Corporation to Report Q1, 2024 Results on Aug 10, 2023

Full year 2023 earnings: EPS misses analyst expectations

Toda Announces Dividend for the Year Ended March 31, 2023 Payable on June 30, 2023

Toda Corporation, Annual General Meeting, Jun 29, 2023

Consensus EPS estimates fall by 13%

Upcoming dividend of JP¥13.50 per share at 3.9% yield

Third quarter 2023 earnings released: EPS: JP¥16.77 (vs JP¥19.34 in 3Q 2022)

Toda Corporation Provides Earnings Guidance for the Fiscal Year Ending March 31, 2023

Toda Corporation (TSE:1860) agreed to acquire remaining 14.87% stake in Toda Road Co., Ltd. for approximately ¥570 million.

Consensus forecasts updated

Toda Corporation to Report Q3, 2023 Results on Feb 13, 2023

Second quarter 2023 earnings released: JP¥1.55 loss per share (vs JP¥13.19 profit in 2Q 2022)

Less than half of directors are independent

Second quarter 2023 earnings released: JP¥1.55 loss per share (vs JP¥13.19 profit in 2Q 2022)

Toda Corporation Provides Dividend Guidance for the Second Quarter of Fiscal Year Ending March 31, 2023

Toda Corporation Provides Consolidated and Non Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2023

Upcoming dividend of JP¥13.50 per share

Investor sentiment improved over the past week

First quarter 2023 earnings released: EPS: JP¥11.94 (vs JP¥11.41 in 1Q 2022)

Toda Corporation Provides Consolidated Earnings Forecast for the Fiscal Year Ending March 31, 2023

Consensus EPS estimates increase by 11%

Full year 2022 earnings: EPS and revenues miss analyst expectations

Toda Corporation Announces Dividend for the Year Ended March 31, 2022, Payable June 30, 2022

Toda Corporation, Annual General Meeting, Jun 29, 2022

Less than half of directors are independent

Toda Corporation to Report Q2, 2023 Results on Nov 15, 2022

Upcoming dividend of JP¥16.00 per share

Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind

Toda Corporation Decides to Revise the Year-End Dividend Forecast for the Fiscal Year Ending March 2022

Nippon Building Fund Incorporation (TSE:8951) acquired additional 15% stake in Yokohama ST Building from Toda Corporation (TSE:1860) for ¥3.2 billion.

Second quarter 2022 earnings released: EPS JP¥13.19 (vs JP¥11.80 in 2Q 2021)

Toda Corporation's Ordinary Shares to Be Deleted from Other OTC

First quarter 2022 earnings released: EPS JP¥11.41 (vs JP¥2.70 in 1Q 2021)

Consensus EPS estimates increase to JP¥65.85

Full year 2021 earnings released: EPS JP¥64.36 (vs JP¥84.29 in FY 2020)

Upcoming dividend of JP¥20.00 per share

New 90-day high: JP¥808

Toda Corporation to Report Fiscal Year 2021 Results on May 14, 2021

Third quarter 2021 earnings released: EPS JP¥22.18 (vs JP¥21.04 in 3Q 2020)

Revenue beats expectations, earnings disappoint

New 90-day high: JP¥760

New 90-day high: JP¥719

Toda Corporation to Report Q3, 2021 Results on Feb 18, 2021

Toda Corporation to Report Q2, 2021 Results on Nov 13, 2020

Toda Corporation (TSE:1860) completed the acquisition of Sato Kogyo Co., Ltd from Miyabi Inc and World Samar Co., Ltd for ¥3.43 billion in cash.

Toda Corporation (TSE:1860) acquired 28-megawatt ready-to-build wind project from Voltalia SA (ENXTPA:VLTSA).

Industrial & Infrastructure Fund Investment Corporation (TSE : 3249) agreed to acquire IIF Shonan Logistics Center from Toda Corporation (TSE : 1860) for ¥7.38 billion.

Revenue & Expenses Breakdown