Toho Co., Ltd.

TSE:9602 Stock Report

Market Cap: JP¥1.0t

Toho Valuation

Is 9602 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • 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 9602 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 9602 (¥5990) is trading above our estimate of fair value (¥4937.02)

Significantly Below Fair Value: 9602 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 9602?

Key metric: As 9602 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 9602. This is calculated by dividing 9602's market cap by their current earnings.
What is 9602's PE Ratio?
PE Ratio20.3x
EarningsJP¥50.02b
Market CapJP¥1.02t

Price to Earnings Ratio vs Peers

How does 9602's PE Ratio compare to its peers?

The above table shows the PE ratio for 9602 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average27.6x
4816 Toei AnimationLtd
35.9x6.6%JP¥745.4b
9605 Toei Company
25.2x5.9%JP¥364.0b
7458 Daiichikosho
12.7x-3.3%JP¥197.9b
5253 COVER
36.6x27.0%JP¥168.3b
9602 Toho
20.3x2.3%JP¥1.0t

Price-To-Earnings vs Peers: 9602 is good value based on its Price-To-Earnings Ratio (20.3x) compared to the peer average (27.6x).

Price to Earnings Ratio vs Industry

How does 9602's PE Ratio compare vs other companies in the JP Entertainment Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
3760 CAVE InteractiveLTD
3.7xn/aUS$41.68m
No more companies available in this PE range
9602 20.3xIndustry Avg. 27.3xNo. of Companies6PE01632486480+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 9602 is good value based on its Price-To-Earnings Ratio (20.3x) compared to the JP Entertainment industry average (27.4x).

Price to Earnings Ratio vs Fair Ratio

What is 9602'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.

9602 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.3x
Fair PE Ratio22.2x

Price-To-Earnings vs Fair Ratio: 9602 is good value based on its Price-To-Earnings Ratio (20.3x) compared to the estimated Fair Price-To-Earnings Ratio (22.2x).

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 9602 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentJP¥5,990.00
JP¥6,610.00
+10.4%
5.4%JP¥7,300.00JP¥6,100.00n/a8
Nov ’25JP¥5,828.00
JP¥6,535.00
+12.1%
6.6%JP¥7,300.00JP¥5,900.00n/a8
Oct ’25JP¥5,832.00
JP¥6,522.50
+11.8%
7.9%JP¥7,600.00JP¥5,900.00n/a8
Sep ’25JP¥5,601.00
JP¥6,522.50
+16.5%
7.9%JP¥7,600.00JP¥5,900.00n/a8
Aug ’25JP¥5,298.00
JP¥6,472.50
+22.2%
9.1%JP¥7,600.00JP¥5,500.00n/a8
Jul ’25JP¥4,779.00
JP¥6,171.25
+29.1%
6.3%JP¥6,800.00JP¥5,500.00n/a8
Jun ’25JP¥4,963.00
JP¥6,171.25
+24.3%
6.3%JP¥6,800.00JP¥5,500.00n/a8
May ’25JP¥5,226.00
JP¥6,124.29
+17.2%
6.1%JP¥6,800.00JP¥5,500.00n/a7
Apr ’25JP¥4,968.00
JP¥5,957.14
+19.9%
4.7%JP¥6,400.00JP¥5,500.00n/a7
Mar ’25JP¥4,869.00
JP¥6,033.33
+23.9%
3.7%JP¥6,400.00JP¥5,800.00n/a6
Feb ’25JP¥4,823.00
JP¥6,071.43
+25.9%
3.9%JP¥6,400.00JP¥5,800.00n/a7
Jan ’25JP¥4,769.00
JP¥6,155.71
+29.1%
4.2%JP¥6,600.00JP¥5,800.00n/a7
Dec ’24JP¥5,127.00
JP¥6,336.25
+23.6%
4.2%JP¥6,800.00JP¥5,890.00n/a8
Nov ’24JP¥5,180.00
JP¥6,336.25
+22.3%
4.2%JP¥6,800.00JP¥5,890.00JP¥5,828.008
Oct ’24JP¥5,102.00
JP¥6,440.00
+26.2%
3.5%JP¥6,800.00JP¥6,100.00JP¥5,832.008
Sep ’24JP¥5,642.00
JP¥6,465.00
+14.6%
3.5%JP¥6,800.00JP¥6,200.00JP¥5,601.008
Aug ’24JP¥5,535.00
JP¥6,402.50
+15.7%
4.1%JP¥6,800.00JP¥6,000.00JP¥5,298.008
Jul ’24JP¥5,471.00
JP¥6,220.00
+13.7%
3.1%JP¥6,500.00JP¥5,900.00JP¥4,779.007
Jun ’24JP¥5,530.00
JP¥6,127.14
+10.8%
3.2%JP¥6,500.00JP¥5,900.00JP¥4,963.007
May ’24JP¥5,400.00
JP¥6,173.75
+14.3%
8.8%JP¥7,400.00JP¥5,400.00JP¥5,226.008
Apr ’24JP¥5,070.00
JP¥6,150.00
+21.3%
9.5%JP¥7,400.00JP¥5,400.00JP¥4,968.008
Mar ’24JP¥4,725.00
JP¥6,200.00
+31.2%
9.7%JP¥7,400.00JP¥5,400.00JP¥4,869.007
Feb ’24JP¥4,765.00
JP¥6,200.00
+30.1%
9.7%JP¥7,400.00JP¥5,400.00JP¥4,823.007
Jan ’24JP¥5,080.00
JP¥6,300.00
+24.0%
9.1%JP¥7,400.00JP¥5,400.00JP¥4,769.007
Dec ’23JP¥5,260.00
JP¥6,314.29
+20.0%
9.1%JP¥7,400.00JP¥5,400.00JP¥5,127.007
Nov ’23JP¥5,320.00
JP¥6,342.86
+19.2%
9.1%JP¥7,400.00JP¥5,400.00JP¥5,180.007

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

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