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4043

TokuyamaTSE:4043 Stock Report

Market Cap

JP¥150.0b

7D

-0.6%

1Y

-20.6%

Updated

20 Oct, 2021

Data

Company Financials +
4043 fundamental analysis
Snowflake Score
Valuation3/6
Future Growth1/6
Past Performance3/6
Financial Health5/6
Dividends4/6

4043 Overview

Tokuyama Corporation produces and sells various chemical products in Japan.

Tokuyama Competitors

Daqo New Energy

NYSE:DQ

US$5.3b

Price History & Performance

Summary of all time highs, changes and price drops for Tokuyama
Historical stock prices
Current Share PriceJP¥2,070.00
52 Week HighJP¥2,006.00
52 Week LowJP¥2,933.00
Beta0.90
1 Month Change-8.00%
3 Month Change-6.76%
1 Year Change-20.57%
3 Year Change-22.82%
5 Year Change-13.03%
Change since IPO-19.14%

Recent News & Updates

Shareholder Returns

4043JP ChemicalsJP Market
7D-0.6%4.1%2.6%
1Y-20.6%16.9%21.6%

Return vs Industry: 4043 underperformed the JP Chemicals industry which returned 16.9% over the past year.

Return vs Market: 4043 underperformed the JP Market which returned 21.6% over the past year.

Price Volatility

Is 4043's price volatile compared to industry and market?
4043 volatility
4043 Beta0.90
Industry Beta0.94
Market Beta1

Stable Share Price: 4043 is not significantly more volatile than the rest of JP stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: 4043's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19185,476Hiroshi Yokotahttps://www.tokuyama.co.jp

Tokuyama Corporation produces and sells various chemical products in Japan. The company operates in four segments: Chemicals, Specialty Products, Cement, and Life & Amenity. The Chemicals segment offers caustic soda, soda ash, calcium chloride, sodium silicate, vinyl chloride monomer, polyvinyl chloride resin, propylene oxide, isopropyl alcohol, chlorinated solvents, and hydrogen.

Tokuyama Fundamentals Summary

How do Tokuyama's earnings and revenue compare to its market cap?
4043 fundamental statistics
Market CapJP¥150.02b
Earnings (TTM)JP¥24.27b
Revenue (TTM)JP¥299.28b

6.1x

P/E Ratio

0.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
4043 income statement (TTM)
RevenueJP¥299.28b
Cost of RevenueJP¥202.11b
Gross ProfitJP¥97.17b
ExpensesJP¥72.90b
EarningsJP¥24.27b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Oct 28, 2021

Earnings per share (EPS)337.14
Gross Margin32.47%
Net Profit Margin8.11%
Debt/Equity Ratio43.6%

How did 4043 perform over the long term?

See historical performance and comparison

Dividends

3.4%

Current Dividend Yield

20%

Payout Ratio

Valuation

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

3.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 4043 (¥2070) is trading below our estimate of fair value (¥2135.82)

Significantly Below Fair Value: 4043 is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: 4043 is good value based on its PE Ratio (6.1x) compared to the JP Chemicals industry average (12.2x).

PE vs Market: 4043 is good value based on its PE Ratio (6.1x) compared to the JP market (14.4x).


Price to Earnings Growth Ratio

PEG Ratio: 4043 is poor value based on its PEG Ratio (3.3x)


Price to Book Ratio

PB vs Industry: 4043's PB Ratio (0.7x) is in line with the JP Chemicals industry average.


Future Growth

How is Tokuyama forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

1.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 4043's forecast earnings growth (1.9% per year) is above the savings rate (0.02%).

Earnings vs Market: 4043's earnings (1.9% per year) are forecast to grow slower than the JP market (10.3% per year).

High Growth Earnings: 4043's earnings are forecast to grow, but not significantly.

Revenue vs Market: 4043's revenue (1% per year) is forecast to grow slower than the JP market (4.9% per year).

High Growth Revenue: 4043's revenue (1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 4043's Return on Equity is forecast to be low in 3 years time (8.3%).


Past Performance

How has Tokuyama performed over the past 5 years?

24.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 4043 has high quality earnings.

Growing Profit Margin: 4043's current net profit margins (8.1%) are higher than last year (6.5%).


Past Earnings Growth Analysis

Earnings Trend: 4043 has become profitable over the past 5 years, growing earnings by 24.7% per year.

Accelerating Growth: 4043's earnings growth over the past year (19.7%) is below its 5-year average (24.7% per year).

Earnings vs Industry: 4043 earnings growth over the past year (19.7%) underperformed the Chemicals industry 32.2%.


Return on Equity

High ROE: 4043's Return on Equity (11.9%) is considered low.


Financial Health

How is Tokuyama's financial position?


Financial Position Analysis

Short Term Liabilities: 4043's short term assets (¥201.1B) exceed its short term liabilities (¥95.0B).

Long Term Liabilities: 4043's short term assets (¥201.1B) exceed its long term liabilities (¥89.7B).


Debt to Equity History and Analysis

Debt Level: 4043's debt to equity ratio (43.6%) is considered high.

Reducing Debt: 4043's debt to equity ratio has reduced from 285% to 43.6% over the past 5 years.

Debt Coverage: 4043's debt is well covered by operating cash flow (47.5%).

Interest Coverage: 4043's interest payments on its debt are well covered by EBIT (33.3x coverage).


Balance Sheet


Dividend

What is Tokuyama current dividend yield, its reliability and sustainability?

3.38%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 4043's dividend (3.38%) is higher than the bottom 25% of dividend payers in the JP market (1.31%).

High Dividend: 4043's dividend (3.38%) is in the top 25% of dividend payers in the JP market (3.04%)


Stability and Growth of Payments

Stable Dividend: 4043's dividend payments have been volatile in the past 10 years.

Growing Dividend: 4043's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (20.3%), 4043'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?

2.5yrs

Average management tenure


CEO

Hiroshi Yokota (60 yo)

6.58yrs

Tenure

Mr. Hiroshi Yokota has been the President and Executive Officer of Tokuyama Corp. since March 2015. Mr. Yokota has experience in sales, personnel and labor issues, and information systems operations. Mr. Y...


Leadership Team

Experienced Management: 4043's management team is considered experienced (2.5 years average tenure).


Board Members

Experienced Board: 4043's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


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 been diluted in the past year, with total shares outstanding growing by 3.6%.


Top Shareholders

Company Information

Tokuyama Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Tokuyama Corporation
  • Ticker: 4043
  • Exchange: TSE
  • Founded: 1918
  • Industry: Specialty Chemicals
  • Sector: Materials
  • Market Cap: JP¥150.023b
  • Shares outstanding: 71.99m
  • Website: https://www.tokuyama.co.jp

Number of Employees


Location

  • Tokuyama Corporation
  • Front Place Akihabara
  • 7-5, Sotokanda 1-chome
  • Tokyo
  • 101-8618
  • Japan

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/20 08:01
End of Day Share Price2021/10/20 00:00
Earnings2021/06/30
Annual Earnings2021/03/31


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.