OTCPK:TOEL.F

Stock Analysis Report

Executive Summary

Tokyo Electron Limited, together with its subsidiaries, develops, manufactures, distributes, and sells semiconductor and flat panel display (FPD) production equipment in Japan, North America, Europe, South Korea, Taiwan, China, and internationally.

Snowflake

Fundamentals

Flawless balance sheet with solid track record.

Risks

  • Tokyo Electron has significant price volatility in the past 3 months.

Similar Companies

Share Price & News

How has Tokyo Electron's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0%

TOEL.F

-0.8%

US Semiconductor

-0.2%

US Market


1 Year Return

28.1%

TOEL.F

9.4%

US Semiconductor

1.1%

US Market

TOEL.F outperformed the Semiconductor industry which returned 10.2% over the past year.

TOEL.F outperformed the Market in United States of America which returned 1.6% over the past year.


Share holder returns

TOEL.FIndustryMarket
7 Day0%-0.8%-0.2%
30 Day9.3%4.9%2.5%
90 Day37.9%12.0%1.6%
1 Year28.1%28.1%11.5%9.4%3.4%1.1%
3 Yearn/a83.0%72.2%45.2%35.8%
5 Year184.2%184.2%123.0%100.4%62.6%44.8%

Price Volatility Vs. Market

How volatile is Tokyo Electron's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Tokyo Electron undervalued based on future cash flows and its price relative to the stock market?

7%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Tokyo Electron's share price is below the future cash flow value, but not at a moderate discount (< 20%).

Tokyo Electron's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

Tokyo Electron is good value based on earnings compared to the US Semiconductor industry average.

Tokyo Electron is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

Tokyo Electron is poor value based on expected growth next year.


Price Based on Value of Assets

Tokyo Electron is overvalued based on assets compared to the US Semiconductor industry average.


Next Steps

Future Growth

How is Tokyo Electron expected to perform in the next 1 to 3 years based on estimates from 18 analysts?

8.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Tokyo Electron's revenue is expected to grow by 4.2% yearly, however this is not considered high growth (20% yearly).

Tokyo Electron's earnings are expected to grow by 8.8% yearly, however this is not considered high growth (20% yearly).

Tokyo Electron's revenue growth is positive but not above the United States of America market average.

Tokyo Electron's earnings growth is positive but not above the United States of America market average.

Tokyo Electron's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Tokyo Electron is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).


Next Steps

Past Performance

How has Tokyo Electron performed over the past 5 years?

38.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Tokyo Electron has delivered over 20% year on year earnings growth in the past 5 years.

Tokyo Electron's 1-year earnings growth is less than its 5-year average (2.5% vs 38.5%)

Tokyo Electron's earnings growth has exceeded the US Semiconductor industry average in the past year (2.5% vs -6.2%).


Return on Equity

Tokyo Electron has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).


Return on Assets

Tokyo Electron used its assets more efficiently than the US Semiconductor industry average last year based on Return on Assets.


Return on Capital Employed

Tokyo Electron has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Tokyo Electron's financial position?


Financial Position Analysis

Tokyo Electron is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Tokyo Electron's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Tokyo Electron has no debt.

Tokyo Electron currently has no debt however we can't compare to 5 years ago as we have no data for that period.

Tokyo Electron has no debt, it does not need to be covered by operating cash flow.

Tokyo Electron has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

High level of physical assets or inventory.

Tokyo Electron has no debt, it does not need to be covered by short term assets.


Next Steps

Dividend

What is Tokyo Electron's current dividend yield, its reliability and sustainability?

2.91%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Tokyo Electron's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).

Tokyo Electron's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are covered by earnings (1.8x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of Tokyo Electron's salary, the management and board of directors tenure and is there insider trading?

1.8yrs

Average management tenure


CEO

Toshiki Kawai (56yo)

3.7yrs

Tenure

JP¥431,000,000

Compensation

Mr. Toshiki Kawai has been the Chief Executive Officer, President at Tokyo Electron Limited since January 1, 2016 and served as its General Manager of Business Division from January 01, 2016 to 2018. Mr. K ...


CEO Compensation Analysis

Toshiki's remuneration is lower than average for companies of similar size in United States of America.

Toshiki's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.


Management Age and Tenure

1.8yrs

Average Tenure

The average tenure for the Tokyo Electron management team is less than 2 years, this suggests a new team.


Board Age and Tenure

1.3yrs

Average Tenure

59.5yo

Average Age

The average tenure for the Tokyo Electron board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Kiyoshi Sunohara

    Senior VP

    • Tenure: 0yrs
  • Yoshikazu Nunokawa

    EVP , GM of Finance

    • Tenure: 0.3yrs
  • Tetsuro Hori

    Senior VP & GM of Business Innovation Project

    • Tenure: 0yrs
    • Compensation: JP¥326.00m
  • Takeshi Okubo

    Senior VP & GM of Global Sales Division

    • Tenure: 1.7yrs
  • Toshiki Kawai (56yo)

    President

    • Tenure: 3.7yrs
    • Compensation: JP¥431.00m
  • Tatsuya Nagakubo

    Senior VP

    • Tenure: 0yrs
    • Compensation: JP¥186.00m
  • Sadao Sasaki

    Executive VP

    • Tenure: 0yrs
    • Compensation: JP¥328.00m
  • Ken Sasagawa

    Vice President of Accounting Department

    • Tenure: 1.9yrs
  • Koichi Yatsuda

    Investor Relations Officer

    • Tenure: 0yrs
  • Shoko Kimijima

    Chief Compliance Officer & VP of Compliance Dept

    • Tenure: 0.3yrs

Board Members

  • Charles Lake (57yo)

    Outside Director

    • Tenure: 3.3yrs
  • Tetsuo Tsuneishi (67yo)

    Chairman

    • Tenure: 4.3yrs
    • Compensation: JP¥339.00m
  • Kiyoshi Sunohara

    Senior VP

    • Tenure: 0yrs
  • Yoshikazu Nunokawa

    EVP , GM of Finance

    • Tenure: 0.3yrs
  • Michio Sasaki (62yo)

    Outside Director

    • Tenure: 1.3yrs
  • Yoh Ikeda

    Senior VP

    • Tenure: 0.3yrs
  • Toshiki Kawai (56yo)

    President

    • Tenure: 3.7yrs
    • Compensation: JP¥431.00m
  • Tatsuya Nagakubo

    Senior VP

    • Tenure: 0yrs
    • Compensation: JP¥186.00m
  • Yoshinobu Mitano

    Senior VP

    • Tenure: 0.3yrs
  • Sadao Sasaki

    Executive VP

    • Tenure: 0yrs
    • Compensation: JP¥328.00m

Company Information

Tokyo Electron Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Tokyo Electron Limited
  • Ticker: TOEL.F
  • Exchange: OTCPK
  • Founded: 1963
  • Industry: Semiconductor Equipment
  • Sector: Semiconductors
  • Market Cap: JP¥3.283t
  • Listing Market Cap: JP¥30.394b
  • Shares outstanding: 158.01m
  • Website: https://www.tel.com

Number of Employees


Location

  • Tokyo Electron Limited
  • Akasaka Biz Tower
  • 3-1 Akasaka 5-chome
  • Tokyo
  • 107-6325
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TOEL.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJan 1992
8035TSE (The Tokyo Stock Exchange)YesCommon StockJPJPYJan 1992
TKYDB (Deutsche Boerse AG)YesCommon StockDEEURJan 1992
TOEL.YOTCPK (Pink Sheets LLC)ADRUSUSDOct 2008

Biography

Tokyo Electron Limited, together with its subsidiaries, develops, manufactures, distributes, and sells semiconductor and flat panel display (FPD) production equipment in Japan, North America, Europe, South ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/20 00:26
End of Day Share Price2019/09/06 00:00
Earnings2019/06/30
Annual Earnings2019/03/31


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.