Tokyo Electron Limited

TSE:8035 Stock Report

Market Cap: JP¥10.3t

Tokyo Electron Valuation

Is 8035 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 8035 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 8035 (¥22250) is trading below our estimate of fair value (¥26374.03)

Significantly Below Fair Value: 8035 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 8035?

Key metric: As 8035 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 8035. This is calculated by dividing 8035's market cap by their current earnings.
What is 8035's PE Ratio?
PE Ratio21.8x
EarningsJP¥470.38b
Market CapJP¥10.26t

Price to Earnings Ratio vs Peers

How does 8035's PE Ratio compare to its peers?

The above table shows the PE ratio for 8035 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average36.4x
6857 Advantest
66.1x16.7%JP¥7.0t
6146 Disco
44x15.4%JP¥4.6t
7735 SCREEN Holdings
9.5x6.7%JP¥792.1b
6920 Lasertec
25.8x15.4%JP¥1.6t
8035 Tokyo Electron
21.8x13.0%JP¥10.3t

Price-To-Earnings vs Peers: 8035 is good value based on its Price-To-Earnings Ratio (21.8x) compared to the peer average (36.4x).

Price to Earnings Ratio vs Industry

How does 8035's PE Ratio compare vs other companies in the JP Semiconductor Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
3856 Abalance
1.5xn/aUS$90.55m
No more companies available in this PE range
8035 21.8xIndustry Avg. 14.1xNo. of Companies7PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 8035 is expensive based on its Price-To-Earnings Ratio (21.8x) compared to the JP Semiconductor industry average (14.1x).

Price to Earnings Ratio vs Fair Ratio

What is 8035'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.

8035 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio21.8x
Fair PE Ratio27.4x

Price-To-Earnings vs Fair Ratio: 8035 is good value based on its Price-To-Earnings Ratio (21.8x) compared to the estimated Fair Price-To-Earnings Ratio (27.4x).

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 8035 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentJP¥22,250.00
JP¥33,447.06
+50.3%
15.0%JP¥41,000.00JP¥24,300.00n/a17
Nov ’25JP¥22,485.00
JP¥34,305.88
+52.6%
13.8%JP¥41,000.00JP¥26,000.00n/a17
Oct ’25JP¥26,040.00
JP¥35,292.61
+35.5%
14.5%JP¥44,100.00JP¥26,900.00n/a18
Sep ’25JP¥25,805.00
JP¥36,993.00
+43.4%
14.7%JP¥47,100.00JP¥29,500.00n/a19
Aug ’25JP¥30,740.00
JP¥40,482.47
+31.7%
13.2%JP¥48,500.00JP¥30,000.00n/a19
Jul ’25JP¥34,820.00
JP¥40,387.74
+16.0%
14.3%JP¥48,500.00JP¥30,000.00n/a19
Jun ’25JP¥33,630.00
JP¥39,756.16
+18.2%
16.5%JP¥48,500.00JP¥24,000.00n/a19
May ’25JP¥34,940.00
JP¥39,203.53
+12.2%
15.9%JP¥48,200.00JP¥24,000.00n/a19
Apr ’25JP¥38,300.00
JP¥38,871.95
+1.5%
15.6%JP¥48,200.00JP¥24,000.00n/a19
Mar ’25JP¥38,380.00
JP¥35,023.35
-8.7%
20.6%JP¥45,000.00JP¥21,000.00n/a20
Feb ’25JP¥27,640.00
JP¥27,755.26
+0.4%
12.0%JP¥33,000.00JP¥21,000.00n/a19
Jan ’25JP¥25,255.00
JP¥25,536.84
+1.1%
16.7%JP¥30,000.00JP¥15,000.00n/a19
Dec ’24JP¥23,850.00
JP¥23,661.65
-0.8%
20.1%JP¥29,000.00JP¥13,333.00n/a20
Nov ’24JP¥20,390.00
JP¥22,216.65
+9.0%
17.3%JP¥26,000.00JP¥13,333.00JP¥22,485.0020
Oct ’24JP¥20,440.00
JP¥21,941.65
+7.3%
17.8%JP¥26,000.00JP¥13,333.00JP¥26,040.0020
Sep ’24JP¥21,435.00
JP¥21,375.42
-0.3%
18.7%JP¥26,000.00JP¥13,333.00JP¥25,805.0019
Aug ’24JP¥21,845.00
JP¥20,828.05
-4.7%
17.3%JP¥26,000.00JP¥13,333.00JP¥30,740.0019
Jul ’24JP¥20,560.00
JP¥20,569.44
+0.05%
16.1%JP¥26,000.00JP¥14,000.00JP¥34,820.0018
Jun ’24JP¥19,735.00
JP¥19,018.65
-3.6%
14.5%JP¥23,000.00JP¥14,000.00JP¥33,630.0017
May ’24JP¥15,500.00
JP¥17,725.47
+14.4%
12.9%JP¥21,700.00JP¥13,333.33JP¥34,940.0017
Apr ’24JP¥16,040.00
JP¥19,521.53
+21.7%
49.3%JP¥57,000.00JP¥13,333.33JP¥38,300.0017
Mar ’24JP¥15,856.67
JP¥17,203.70
+8.5%
12.2%JP¥21,666.67JP¥13,333.33JP¥38,380.0018
Feb ’24JP¥15,376.67
JP¥16,467.22
+7.1%
15.4%JP¥21,666.67JP¥11,666.67JP¥27,640.0018
Jan ’24JP¥12,960.00
JP¥16,062.96
+23.9%
16.9%JP¥21,666.67JP¥11,666.67JP¥25,255.0018
Dec ’23JP¥15,633.33
JP¥16,248.15
+3.9%
16.9%JP¥21,666.67JP¥11,666.67JP¥23,850.0018
Nov ’23JP¥13,233.33
JP¥15,614.04
+18.0%
21.4%JP¥23,333.33JP¥9,400.00JP¥20,390.0019

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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