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Tokyo GasLtd

OTCPK:TKGS.Y
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TKGS.Y
OTCPK
¥1,169B
Market Cap
  1. Home
  2. US
  3. Utilities
Company description

Tokyo Gas Co., Ltd. produces, supplies, and sells natural gas in Japan. The last earnings update was 21 days ago. More info.


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TKGS.Y Share Price and Events
7 Day Returns
0.2%
OTCPK:TKGS.Y
-1.1%
US Gas Utilities
0.6%
US Market
1 Year Returns
-4.7%
OTCPK:TKGS.Y
9.4%
US Gas Utilities
4.1%
US Market
TKGS.Y Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tokyo GasLtd (TKGS.Y) 0.2% 2.8% -1.6% -4.7% 15% -18%
US Gas Utilities -1.1% -0.1% 2.9% 9.4% 20.8% 57.4%
US Market 0.6% 3.8% 2.8% 4.1% 37.3% 42.5%
1 Year Return vs Industry and Market
  • TKGS.Y underperformed the Gas Utilities industry which returned 9.4% over the past year.
  • TKGS.Y underperformed the Market in United States of America which returned 4.1% over the past year.
Price Volatility
TKGS.Y
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Tokyo GasLtd's competitors could be found in our database.

Value

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

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Tokyo GasLtd to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Tokyo GasLtd.

OTCPK:TKGS.Y Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:TKGS.Y
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Gas Utilities Unlevered Beta Simply Wall St/ S&P Global 0.36
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.357 (1 + (1- 30.86%) (68.26%))
0.682
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for OTCPK:TKGS.Y using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Tokyo GasLtd is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:TKGS.Y DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 7.5%)
2020 -42,988.50 Analyst x2 -39,990.05
2021 35,700.00 Analyst x1 30,893.52
2022 41,966.67 Analyst x3 33,783.40
2023 44,100.00 Analyst x2 33,024.56
2024 43,000.00 Analyst x2 29,954.81
2025 42,593.47 Est @ -0.95% 27,602.01
2026 42,660.43 Est @ 0.16% 25,717.13
2027 43,056.76 Est @ 0.93% 24,145.62
2028 43,689.41 Est @ 1.47% 22,791.49
2029 44,496.58 Est @ 1.85% 21,593.49
Present value of next 10 years cash flows ¥209,515.98
OTCPK:TKGS.Y DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥44,496.58 × (1 + 2.73%) ÷ (7.5% – 2.73%)
¥958,710.97
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥958,710.97 ÷ (1 + 7.5%)10
¥465,247.29
OTCPK:TKGS.Y Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥209,515.98 + ¥465,247.29
¥674,763.27
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥674,763.27 / 437.50
¥1542.33
OTCPK:TKGS.Y Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:TKGS.Y represents 0.00459x of TSE:9531
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00459x
Value per Share
(Listing Adjusted, USD)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 1,542.33 x 0.00459
$7.09
Value per share (USD) From above. $7.09
Current discount Discount to share price of $12.27
= -1 x ($12.27 - $7.09) / $7.09
-73.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Tokyo GasLtd is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Tokyo GasLtd's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tokyo GasLtd's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:TKGS.Y PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in JPY ¥187.60
TSE:9531 Share Price ** TSE (2019-07-17) in JPY ¥2671
United States of America Gas Utilities Industry PE Ratio Median Figure of 11 Publicly-Listed Gas Utilities Companies 25.28x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.98x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Tokyo GasLtd.

OTCPK:TKGS.Y PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:9531 Share Price ÷ EPS (both in JPY)

= 2671 ÷ 187.60

14.24x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tokyo GasLtd is good value based on earnings compared to the US Gas Utilities industry average.
  • Tokyo GasLtd is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Tokyo GasLtd's expected growth come at a high price?
Raw Data
OTCPK:TKGS.Y PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.24x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
1.3%per year
United States of America Gas Utilities Industry PEG Ratio Median Figure of 10 Publicly-Listed Gas Utilities Companies 2.5x
United States of America Market PEG Ratio Median Figure of 2,122 Publicly-Listed Companies 1.59x

*Line of best fit is calculated by linear regression .

OTCPK:TKGS.Y PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.24x ÷ 1.3%

11.2x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tokyo GasLtd is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Tokyo GasLtd's assets?
Raw Data
OTCPK:TKGS.Y PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in JPY ¥2,575.98
TSE:9531 Share Price * TSE (2019-07-17) in JPY ¥2671
United States of America Gas Utilities Industry PB Ratio Median Figure of 12 Publicly-Listed Gas Utilities Companies 2.27x
United States of America Market PB Ratio Median Figure of 5,241 Publicly-Listed Companies 1.81x
OTCPK:TKGS.Y PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:9531 Share Price ÷ Book Value per Share (both in JPY)

= 2671 ÷ 2,575.98

1.04x

* Primary Listing of Tokyo GasLtd.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tokyo GasLtd is good value based on assets compared to the US Gas Utilities industry average.
X
Value checks
We assess Tokyo GasLtd's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Gas Utilities industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Gas Utilities industry average (and greater than 0)? (1 check)
  5. Tokyo GasLtd has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Tokyo GasLtd expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
1.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tokyo GasLtd expected to grow at an attractive rate?
  • Tokyo GasLtd's earnings growth is positive but not above the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Tokyo GasLtd's earnings growth is positive but not above the United States of America market average.
  • Tokyo GasLtd's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:TKGS.Y Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:TKGS.Y Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 1.3%
OTCPK:TKGS.Y Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 2%
United States of America Gas Utilities Industry Earnings Growth Rate Market Cap Weighted Average 11.6%
United States of America Gas Utilities Industry Revenue Growth Rate Market Cap Weighted Average 4.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:TKGS.Y Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:TKGS.Y Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31 2,165,600 257,150 90,867 3
2023-03-31 2,163,050 258,833 91,325 4
2022-03-31 2,114,392 253,551 87,239 8
2021-03-31 2,085,192 254,494 87,251 8
2020-03-31 2,054,887 261,845 87,812 8
OTCPK:TKGS.Y Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-03-31 1,962,308 141,306 84,555
2018-12-31 1,882,479 61,273
2018-09-30 1,819,393 154,454 69,947
2018-06-30 1,774,678 84,845
2018-03-31 1,777,344 259,738 74,987
2017-12-31 1,722,501 84,053
2017-09-30 1,669,634 214,331 58,597
2017-06-30 1,615,469 41,802
2017-03-31 1,587,085 238,734 53,134
2016-12-31 1,630,824 50,477
2016-09-30 1,691,018 301,832 57,832
2016-06-30 1,772,992 77,713

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Tokyo GasLtd's earnings are expected to grow by 1.3% yearly, however this is not considered high growth (20% yearly).
  • Tokyo GasLtd's revenue is expected to grow by 2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:TKGS.Y Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Tokyo GasLtd Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:TKGS.Y Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31 234.05 263.10 205.00 2.00
2023-03-31 227.35 250.90 201.40 3.00
2022-03-31 202.58 245.00 159.20 8.00
2021-03-31 199.43 231.80 180.20 8.00
2020-03-31 197.59 204.00 183.80 8.00
OTCPK:TKGS.Y Past Financials Data
Date (Data in JPY Millions) EPS *
2019-03-31 187.60
2018-12-31 135.44
2018-09-30 154.04
2018-06-30 186.16
2018-03-31 164.12
2017-12-31 183.71
2017-09-30 127.90
2017-06-30 91.11
2017-03-31 115.09
2016-12-31 108.23
2016-09-30 122.76
2016-06-30 163.34

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Tokyo GasLtd is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Tokyo GasLtd's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Tokyo GasLtd has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Tokyo GasLtd performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Tokyo GasLtd's growth in the last year to its industry (Gas Utilities).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Tokyo GasLtd's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Tokyo GasLtd's 1-year earnings growth exceeds its 5-year average (12.8% vs -13.6%)
  • Tokyo GasLtd's earnings growth has exceeded the US Gas Utilities industry average in the past year (12.8% vs -5.5%).
Earnings and Revenue History
Tokyo GasLtd's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Tokyo GasLtd Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:TKGS.Y Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,962,308.00 84,555.00 461,258.00
2018-12-31 1,882,479.00 61,273.00 467,649.00
2018-09-30 1,819,393.00 69,947.00 465,530.00
2018-06-30 1,774,678.00 84,845.00 461,237.00
2018-03-31 1,777,344.00 74,987.00 457,111.00
2017-12-31 1,722,501.00 84,053.00 457,727.00
2017-09-30 1,669,634.00 58,597.00 463,144.00
2017-06-30 1,615,469.00 41,802.00 470,000.00
2017-03-31 1,587,085.00 53,134.00 476,834.00
2016-12-31 1,630,824.00 50,477.00 475,971.00
2016-09-30 1,691,018.00 57,832.00 468,307.00
2016-06-30 1,772,992.00 77,713.00 460,080.00
2016-03-31 1,884,656.00 111,936.00 453,627.00
2015-12-31 2,052,326.00 136,940.00 444,914.00
2015-09-30 2,162,918.00 119,398.00 449,509.00
2015-06-30 2,245,889.00 124,483.00 451,723.00
2015-03-31 2,292,548.00 95,828.00 452,752.00
2014-12-31 2,256,916.00 91,063.00 454,984.00
2014-09-30 2,209,659.00 122,698.00 452,843.00
2014-06-30 2,172,533.00 127,159.00 454,391.00
2014-03-31 2,112,117.00 108,451.00 456,384.00
2013-12-31 2,015,542.00 92,810.00 457,156.00
2013-09-30 1,985,426.00 104,477.00 457,386.00
2013-06-30 1,946,603.00 95,935.00 459,411.00
2013-03-31 1,915,639.00 101,678.00 458,517.00
2012-12-31 1,919,768.00 111,168.00 461,132.00
2012-09-30 1,869,598.00 91,003.00 460,279.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Tokyo GasLtd has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Tokyo GasLtd used its assets less efficiently than the US Gas Utilities industry average last year based on Return on Assets.
  • Tokyo GasLtd's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Tokyo GasLtd's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Gas Utilities industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Tokyo GasLtd has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Tokyo GasLtd's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Tokyo GasLtd's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tokyo GasLtd is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Tokyo GasLtd's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Tokyo GasLtd's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Tokyo GasLtd Company Filings, last reported 3 months ago.

OTCPK:TKGS.Y Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,171,344.00 796,224.00 93,092.00
2018-12-31 1,130,670.00 792,418.00 104,596.00
2018-09-30 1,139,568.00 712,024.00 91,498.00
2018-06-30 1,137,093.00 679,898.00 109,485.00
2018-03-31 1,148,432.00 719,549.00 128,346.00
2017-12-31 1,128,790.00 719,213.00 85,547.00
2017-09-30 1,117,398.00 709,671.00 100,534.00
2017-06-30 1,113,974.00 719,027.00 119,686.00
2017-03-31 1,112,807.00 708,344.00 132,626.00
2016-12-31 1,036,024.00 706,028.00 73,531.00
2016-09-30 1,055,953.00 663,127.00 84,007.00
2016-06-30 1,082,381.00 669,224.00 85,614.00
2016-03-31 1,115,170.00 711,901.00 170,262.00
2015-12-31 1,104,775.00 717,713.00 97,625.00
2015-09-30 1,123,523.00 729,459.00 137,307.00
2015-06-30 1,125,340.00 726,156.00 130,563.00
2015-03-31 1,087,261.00 727,897.00 129,503.00
2014-12-31 1,001,558.00 719,271.00 96,689.00
2014-09-30 1,018,601.00 706,993.00 78,609.00
2014-06-30 1,017,193.00 721,943.00 83,994.00
2014-03-31 1,029,491.00 711,455.00 150,979.00
2013-12-31 962,486.00 706,603.00 73,369.00
2013-09-30 963,049.00 716,301.00 95,927.00
2013-06-30 933,170.00 695,722.00 73,985.00
2013-03-31 946,511.00 640,046.00 144,678.00
2012-12-31 891,918.00 636,175.00 72,214.00
2012-09-30 878,431.00 636,412.00 60,834.00
  • Tokyo GasLtd's level of debt (68.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (69.2% vs 68.1% today).
  • Debt is not well covered by operating cash flow (17.7%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 14.1x coverage).
X
Financial health checks
We assess Tokyo GasLtd's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Tokyo GasLtd has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.43%
Current annual income from Tokyo GasLtd dividends. Estimated to be 2.31% next year.
If you bought $2,000 of Tokyo GasLtd shares you are expected to receive $49 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Tokyo GasLtd's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
  • Tokyo GasLtd's dividend is below the markets top 25% of dividend payers in United States of America (3.72%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:TKGS.Y Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
United States of America Gas Utilities Industry Average Dividend Yield Market Cap Weighted Average of 12 Stocks 2.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:TKGS.Y Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-03-31 65.00 2.00
2023-03-31 65.00 3.00
2022-03-31 63.13 8.00
2021-03-31 60.00 8.00
2020-03-31 60.00 8.00
OTCPK:TKGS.Y Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-06-27 65.000 2.462
2019-02-08 55.000 1.930
2019-01-31 55.000 1.888
2018-11-09 55.000 1.920
2018-10-31 55.000 2.011
2018-06-28 55.000 1.996
2018-04-27 55.000 1.864
2018-02-14 55.000 2.004
2018-01-31 55.000 2.068
2017-11-10 55.000 2.081
2017-10-27 55.000 1.950
2017-06-29 55.000 1.915
2017-04-28 55.000 1.908
2016-06-29 55.000 2.278
2016-04-28 55.000 2.530
2016-02-15 50.000 1.949
2016-01-29 50.000 1.801
2015-11-16 50.000 1.788
2015-10-30 50.000 1.701
2015-06-26 50.000 1.571
2015-04-28 50.000 1.458
2015-02-16 50.000 1.335
2015-01-30 50.000 1.402
2014-11-14 50.000 1.539
2014-10-30 50.000 1.549
2014-06-27 50.000 1.674
2014-04-28 50.000 1.770
2013-06-27 50.000 1.922
2013-04-26 50.000 1.806
2013-02-14 45.000 1.823
2013-01-31 45.000 2.081
2012-11-14 45.000 2.173
2012-10-30 45.000 2.168
2012-07-31 45.000 2.130
2012-06-28 45.000 2.216
2012-04-27 45.000 2.371
2012-02-14 45.000 2.353
2012-01-31 45.000 2.512
2011-11-14 45.000 2.611
2011-10-31 45.000 2.742
2011-07-29 45.000 2.566
2011-04-28 45.000 2.504
2011-01-31 45.000 2.476
2010-10-29 45.000 2.459
2010-07-29 45.000 2.346
2010-06-29 45.000 2.268
2010-04-28 45.000 2.223
2010-02-15 40.000 2.017
2010-01-29 40.000 2.144
2009-10-28 40.000 2.220
2009-06-26 40.000 2.231
2009-04-28 40.000 2.275
2009-02-16 40.000 2.229
2009-01-30 40.000 2.006
2008-10-31 40.000 1.820
2008-07-29 40.000 1.848

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Tokyo GasLtd's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.1x 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.
X
Income/ dividend checks
We assess Tokyo GasLtd's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Tokyo GasLtd afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tokyo GasLtd has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Takashi Uchida
AGE 63
TENURE AS CEO 1.3 years
CEO Bio

Mr. Takashi Uchida has been President and Chief Executive Officer of Tokyo Gas Co., Ltd. since April 01, 2018 with ultimate responsibility for the execution of duties within it. Mr. Uchida is highly knowledgeable, and has extensive work experience with Tokyo Gas Co. Mr. Uchida served as Executive Vice President of Tokyo Gas Co. Ltd. since April 2016 until April 01, 2018, Chief Executive of Residential Sales and Service Division since April 2016 until April 2017 and Chief Executive of Residential Service Div. since April 2017. Mr. Uchida served as the Chief Executive of Energy Resources Business Division at Tokyo Gas Co. Ltd. since April 1, 2013 until April 2016 and Senior Executive Officer since April 1, 2012 until April 2016 and in charge of Personnel Dept., Secretary Dept., Compliance Dept. and Internal Audit Dept. since April 2012. In April 1979, he Joined Tokyo Gas Co., Ltd. and was its General Manager of Pipeline Planning Dept. of Pipeline Network Div. since June 2006 and Chief Executive of Energy Resources Div. since June 2015. In his career, he has engaged mainly in pipeline, resources and overseas business-related work duties. Mr. Uchida served as Division Manager of Energy Resources Division and Executive Officer and General Manager of Corporate Planning Department at Tokyo Gas Co. Ltd. from April 1, 2010 to April 1, 2012. He has been Representative Director of Tokyo Gas Co. Ltd. since April 2016. He serves as a Director of Tokyo Gas America Ltd. He served as a Director at Tokyo Gas Co. Ltd. since June 2015 until April 2016.

CEO Compensation
  • Insufficient data for Takashi to compare compensation growth.
  • Insufficient data for Takashi to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Tokyo GasLtd management team in years:

1.3
Average Tenure
62
Average Age
  • The average tenure for the Tokyo GasLtd management team is less than 2 years, this suggests a new team.
Management Team

Takashi Uchida

TITLE
President
AGE
63
TENURE
1.3 yrs

Isao Nakajima

TITLE
CFO & Senior Managing Executive Officer

Masaru Takamatsu

TITLE
Executive VP
AGE
63
TENURE
1.3 yrs

Kunio Nohata

TITLE
Senior Managing Executive Officer
AGE
61
TENURE
1.3 yrs

Satoru Sawada

TITLE
Senior Managing Executive Officer
TENURE
1.3 yrs

Tadashi Komiyama

TITLE
Managing Executive Officer & Chief Executive of Pipeline Network Division
TENURE
1.3 yrs

Koki Hayakawa

TITLE
Managing Executive Officer & Chief Executive of Region Division
TENURE
1.3 yrs

Takashi Anamizu

TITLE
Executive VP
AGE
60
TENURE
1.3 yrs

Kentaro Kimoto

TITLE
Managing Executive Officer and Chief Executive of Gas Resources & Energy Production Division
TENURE
1.3 yrs

Shinichi Sasayama

TITLE
Managing Executive Officer & Chief Executive of Digital Innovation Div.
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the Tokyo GasLtd board of directors in years:

3.1
Average Tenure
63.5
Average Age
  • The tenure for the Tokyo GasLtd board of directors is about average.
Board of Directors

Michiaki Hirose

TITLE
Chairman
AGE
69
TENURE
1.3 yrs

Takashi Uchida

TITLE
President
AGE
63
TENURE
3.3 yrs

Masaru Takamatsu

TITLE
Executive VP
AGE
63
TENURE
3.1 yrs

Kunio Nohata

TITLE
Senior Managing Executive Officer
AGE
61
TENURE
2.1 yrs

Takashi Anamizu

TITLE
Executive VP
AGE
60
TENURE
2.1 yrs

Tsuyoshi Okamoto

TITLE
Senior Corporate Advisor & Director
AGE
72

Yoshinori Katori

TITLE
Outside Director
AGE
69
TENURE
4.1 yrs

Akihiko Ide

TITLE
Outside Director
AGE
78
TENURE
4.1 yrs

Chika Igarashi

TITLE
Outside Director
AGE
48
TENURE
3.1 yrs

Hideaki Obana

TITLE
Audit & Supervisory Board Member
AGE
64
TENURE
4.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Tokyo GasLtd's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Tokyo GasLtd has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Tokyo Gas Co., Ltd. produces, supplies, and sells natural gas in Japan. As of March 31, 2018, the company operated a 63,557 km pipeline network serving approximately 11,678 million customers. It also constructs, sells, repairs, and renovates gas appliances; installs gas supply lines, water supply and drainage lines, and air conditioning systems; constructs gas main and branch lines; checks safety in underground centers; inspects gas equipment construction; delivers liquefied petroleum gas (LPG); and provides parcel and heat supply services. In addition, the company constructs and sells exhaust and safety systems; generates, supplies, and sells electricity; manages a hotel; develops and manages solar power business; supplies and installs hydrogen fuel cells; and provides engineering services for energy-related projects. Further, it invests in T-power projects; manufactures and sells liquid carbon dioxide and dry ice; sells industrial and chemical products, furniture upholstery, and coke; develops LNG cryogenic utilization technology; sells automotive LPG; plans and manages events and showrooms; and provides call center, staffing, crediting administrations with installation, advertising, and publishing services. Additionally, the company offers energy, district heating and cooling, building management, fire prevention patrol, and travel agency services; sells and maintains cogeneration systems; produces and sells LNG, condensate, domgas, coalseam gas, liquefied nitrogen, and oxygen; develops software; sells computer equipment; operates LPG shipping base; leases gas and office equipment; and wholesales, fills, and mixes rare gases. It also provides loan, information processing, gas appliance safety check, meter, billing, housing renovation, real estate development and leasing, administration management, management brokerage, non-life insurance agency, and carrier chartering services. The company was founded in 1885 and is headquartered in Tokyo, Japan.

Details
Name: Tokyo Gas Co.,Ltd.
TKGS.Y
Exchange: OTCPK
Founded: 1885
¥10,808,912,918
437,495,910
Website: http://www.tokyo-gas.co.jp
Address: Tokyo Gas Co.,Ltd.
1-5-20 Kaigan,
Minato-ku,
Tokyo,
105-8527,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 9531 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
OTCPK TKGS.F Common Stock Pink Sheets LLC US USD 06. Jan 1992
DB TOG Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
OTCPK TKGS.Y UNSPONSORED ADR Pink Sheets LLC US USD 13. Oct 2008
Number of employees
Current staff
Staff numbers
16,708
Tokyo GasLtd employees.
Industry
Gas Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 00:32
End of day share price update: 2019/07/17 00:00
Last estimates confirmation: 2019/07/01
Last earnings filing: 2019/06/27
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.