OTCPK:TKEC.F

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Tokyo Electric Power Company Holdings

Executive Summary

Tokyo Electric Power Company Holdings, Incorporated generates, transmits, distributes, and retails electric power in Japan and internationally.


Snowflake Analysis

Good value with imperfect balance sheet.

Share Price & News

How has Tokyo Electric Power Company Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TKEC.F's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-5.8%

TKEC.F

-0.09%

US Electric Utilities

1.0%

US Market


1 Year Return

-43.1%

TKEC.F

-4.1%

US Electric Utilities

4.1%

US Market

Return vs Industry: TKEC.F underperformed the US Electric Utilities industry which returned -5% over the past year.

Return vs Market: TKEC.F underperformed the US Market which returned 3.7% over the past year.


Shareholder returns

TKEC.FIndustryMarket
7 Day-5.8%-0.09%1.0%
30 Day-5.2%-3.4%5.4%
90 Day-20.3%-17.9%-5.7%
1 Year-43.1%-43.1%-0.9%-4.1%6.5%4.1%
3 Year-25.0%-25.0%16.9%5.7%28.3%19.8%
5 Year-48.6%-48.6%53.9%28.4%52.2%35.0%

Price Volatility Vs. Market

How volatile is Tokyo Electric Power Company Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Tokyo Electric Power Company Holdings undervalued compared to its fair value and its price relative to the market?

11.15x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate TKEC.F's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate TKEC.F's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: TKEC.F is good value based on its PE Ratio (11.2x) compared to the Electric Utilities industry average (19.5x).

PE vs Market: TKEC.F is good value based on its PE Ratio (11.2x) compared to the US market (15.1x).


Price to Earnings Growth Ratio

PEG Ratio: TKEC.F is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: TKEC.F is good value based on its PB Ratio (0.2x) compared to the US Electric Utilities industry average (1.9x).


Next Steps

Future Growth

How is Tokyo Electric Power Company Holdings forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

11.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TKEC.F's forecast earnings growth (11.7% per year) is above the savings rate (2.2%).

Earnings vs Market: TKEC.F's earnings (11.7% per year) are forecast to grow slower than the US market (21.6% per year).

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

Revenue vs Market: TKEC.F's revenue is expected to decline over the next 3 years (-0.4% per year).

High Growth Revenue: TKEC.F's revenue is forecast to decline over the next 3 years (-0.4% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TKEC.F's Return on Equity is forecast to be low in 3 years time (5.4%).


Next Steps

Past Performance

How has Tokyo Electric Power Company Holdings performed over the past 5 years?

-5.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TKEC.F has a large one-off loss of ¥194.8B impacting its March 31 2020 financial results.

Growing Profit Margin: TKEC.F's current net profit margins (0.8%) are lower than last year (3.7%).


Past Earnings Growth Analysis

Earnings Trend: TKEC.F's earnings have declined by -5.3% per year over the past 5 years.

Accelerating Growth: TKEC.F's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TKEC.F had negative earnings growth (-78.5%) over the past year, making it difficult to compare to the Electric Utilities industry average (1.8%).


Return on Equity

High ROE: TKEC.F's Return on Equity (1.8%) is considered low.


Next Steps

Financial Health

How is Tokyo Electric Power Company Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: TKEC.F's short term assets (¥1,786.0B) do not cover its short term liabilities (¥4,174.8B).

Long Term Liabilities: TKEC.F's short term assets (¥1,786.0B) do not cover its long term liabilities (¥4,866.2B).


Debt to Equity History and Analysis

Debt Level: TKEC.F's debt to equity ratio (135.1%) is considered high.

Reducing Debt: TKEC.F's debt to equity ratio has reduced from 332.5% to 135.1% over the past 5 years.

Debt Coverage: TKEC.F's debt is not well covered by operating cash flow (8.2%).

Interest Coverage: TKEC.F's interest payments on its debt are well covered by EBIT (5x coverage).


Balance Sheet


Next Steps

Dividend

What is Tokyo Electric Power Company Holdings's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate TKEC.F's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate TKEC.F's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TKEC.F's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TKEC.F's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: TKEC.F is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TKEC.F's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.3yrs

Average management tenure


CEO

Tomoaki Kobayakawa (55yo)

2.92yrs

Tenure

Mr. Tomoaki Kobayakawa has been the Representative Executive Officer and President of Tokyo Electric Power Company Holdings, Incorporated since June 2017. Mr. Kobayakawa has been Representative Director an ...


Leadership Team

NamePositionTenureCompensationOwnership
Tomoaki Kobayakawa
Representative Executive Officer2.92yrsno data0.00046% ¥24.2k
Seiji Moriya
Representative Executive Officer2.92yrsno data0.0016% ¥82.5k
Hiroshi Yamaguchi
Chief Technology Officer and Executive Vice Presidentno datano datano data
Yoshiyuki Ishizaki
Executive VPno datano datano data
Motomi Iki
Managing Executive Officer and President of Business Solutionno datano datano data
Naohiro Masuda
Chief Decommissioning Officerno datano datano data
Seiichi Fubasami
Representative Executive Officer1.33yrsno data0.000080% ¥4.2k
Mitsushi Saiki
Executive Vice President1.33yrsno data0.00064% ¥33.6k
Tomomichi Seki
Managing Executive Officerno datano data0.00014% ¥7.4k
Shigenori Makino
Managing Executive Officer & Directorno datano data0.00013% ¥6.8k

2.3yrs

Average Tenure

Experienced Management: TKEC.F's management team is considered experienced (2.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Tomoaki Kobayakawa
Representative Executive Officer2.92yrsno data0.00046% ¥24.2k
Seiji Moriya
Representative Executive Officer2.92yrsno data0.0016% ¥82.5k
Seiichi Fubasami
Representative Executive Officer1.33yrsno data0.000080% ¥4.2k
Shigenori Makino
Managing Executive Officer & Directorno datano data0.00013% ¥6.8k
Ryuichi Yamashita
Executive Officer & Director1.92yrsno datano data
Takashi Kawamura
Outside & Independent Chairman of the Board2.92yrsno data0.0015% ¥81.4k
Shouei Utsuda
Outside & Independent Director2.92yrsno data0.00059% ¥31.0k
Hideko Kunii
Outside & Independent Director4.92yrsno data0.00035% ¥18.4k
Hideo Takaura
Outside & Independent Directorno datano data0.00023% ¥12.1k
Junji Annen
Outside & Independent Directorno datano data0.00013% ¥6.8k

2.9yrs

Average Tenure

72yo

Average Age

Experienced Board: TKEC.F's board of directors are not considered experienced ( 2.9 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Tokyo Electric Power Company Holdings, Incorporated's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Tokyo Electric Power Company Holdings, Incorporated
  • Ticker: TKEC.F
  • Exchange: OTCPK
  • Founded: 1951
  • Industry: Electric Utilities
  • Sector: Utilities
  • Market Cap: JP¥565.582b
  • Listing Market Cap: JP¥5.252b
  • Shares outstanding: 1.60b
  • Website: https://www.tepco.co.jp/index-j.html

Number of Employees


Location

  • Tokyo Electric Power Company Holdings, Incorporated
  • 1-1-3 Uchisaiwai-cho
  • Chiyoda-ku
  • Tokyo
  • 100-8560
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TKEC.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJan 1975
9501TSE (The Tokyo Stock Exchange)YesCommon StockJPJPYJan 1975
TPODB (Deutsche Boerse AG)YesCommon StockDEEURJan 1975
TKEC.YOTCPK (Pink Sheets LLC)ADRUSUSDOct 2008

Biography

Tokyo Electric Power Company Holdings, Incorporated generates, transmits, distributes, and retails electric power in Japan and internationally. The company operates a portfolio of thermal, nuclear, solar, wind, hydro, and geothermal power plants. Its power grid comprises 40,000 kilometers of transmission lines. The company also operates 1,615 substations. In addition, it is involved in the gas sales business. Further, it provides consulting services for electricity companies. The company was formerly known as Tokyo Electric Power Company, Incorporated and changed its name to Tokyo Electric Power Company Holdings, Incorporated in April 2016. The company was founded in 1951 and is headquartered in Tokyo, Japan. Tokyo Electric Power Company Holdings, Incorporated is a subsidiary of Nuclear Damage Compensation and Decommissioning Facilitation Corporation. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/26 02:12
End of Day Share Price2020/05/22 00:00
Earnings2020/03/31
Annual Earnings2020/03/31


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.