TOKYO ELECTRON LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 34,920 JPY | +0.09% |
|
-0.09% | +38.27% |
| 21/06 | Tokyo Electron Finalizes Subscription Rights for Employees | MT |
| 21/06 | Japan's Nikkei closes lower as tech shares drag; value stocks up | RE |
Valuation
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 31,65,208 | 72,76,081 | 98,49,367 | 75,11,064 | 1,83,17,132 | 1,61,07,035 | - | - |
| Enterprise Value (EV) 1 | 28,26,802 | 69,64,529 | 94,78,093 | 70,37,964 | 1,78,44,584 | 1,56,35,936 | 1,54,93,435 | 1,53,47,206 |
| P/E ratio | 17.4 x | 30 x | 22.5 x | 15.9 x | 50.5 x | 35.4 x | 26.9 x | 22.3 x |
| Yield | 2.89% | 1.67% | 2.22% | 3.56% | 0.99% | 1.42% | 1.86% | 2.26% |
| Capitalization / Revenue | 2.81 x | 5.2 x | 4.92 x | 3.4 x | 10 x | 7.33 x | 6.19 x | 5.39 x |
| EV / Revenue | 2.51 x | 4.98 x | 4.73 x | 3.19 x | 9.75 x | 7.12 x | 5.95 x | 5.14 x |
| EV / EBITDA | 10.6 x | 19.6 x | 14.9 x | 10.7 x | 35.1 x | 24.2 x | 18.6 x | 15.8 x |
| EV / FCF | 13.9 x | 54.6 x | 41.6 x | 19.6 x | 57.6 x | 52.6 x | 32.7 x | 26.1 x |
| FCF Yield | 7.21% | 1.83% | 2.4% | 5.11% | 1.73% | 1.9% | 3.06% | 3.83% |
| Price to Book | 3.86 x | 7.18 x | 7.38 x | 4.73 x | 10.5 x | 8.36 x | 7.2 x | 6.09 x |
| Nbr of stocks (in thousands) | 4,66,501 | 4,66,515 | 4,67,164 | 4,68,271 | 4,62,905 | 4,61,255 | - | - |
| Reference price 2 | 6,785 | 15,597 | 21,083 | 16,040 | 39,570 | 34,920 | 34,920 | 34,920 |
| Announcement Date | 30/04/20 | 30/04/21 | 12/05/22 | 11/05/23 | 10/05/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 11,27,286 | 13,99,102 | 20,03,805 | 22,09,025 | 18,30,527 | 21,96,087 | 26,03,100 | 29,88,557 |
| EBITDA 1 | 2,66,595 | 3,54,727 | 6,35,998 | 6,60,650 | 5,08,602 | 6,46,061 | 8,34,575 | 9,72,797 |
| EBIT 1 | 2,37,292 | 3,20,685 | 5,99,271 | 6,17,723 | 4,56,263 | 5,96,014 | 7,84,532 | 9,44,220 |
| Operating Margin | 21.05% | 22.92% | 29.91% | 27.96% | 24.93% | 27.14% | 30.14% | 31.59% |
| Earnings before Tax (EBT) 1 | 2,44,626 | 3,17,038 | 5,96,698 | 6,24,856 | 4,73,439 | 6,04,460 | 7,88,305 | 9,57,712 |
| Net income 1 | 1,85,206 | 2,42,941 | 4,37,076 | 4,71,584 | 3,63,963 | 4,54,750 | 5,98,560 | 7,20,271 |
| Net margin | 16.43% | 17.36% | 21.81% | 21.35% | 19.88% | 20.71% | 22.99% | 24.1% |
| EPS 2 | 390.2 | 520.7 | 935.9 | 1,008 | 783.8 | 985.6 | 1,296 | 1,563 |
| Free Cash Flow 1 | 2,03,748 | 1,27,614 | 2,27,755 | 3,59,373 | 3,09,572 | 2,97,134 | 4,74,327 | 5,87,338 |
| FCF margin | 18.07% | 9.12% | 11.37% | 16.27% | 16.91% | 13.53% | 18.22% | 19.65% |
| FCF Conversion (EBITDA) | 76.43% | 35.98% | 35.81% | 54.4% | 60.87% | 45.99% | 56.83% | 60.38% |
| FCF Conversion (Net income) | 110.01% | 52.53% | 52.11% | 76.21% | 85.06% | 65.34% | 79.24% | 81.54% |
| Dividend per Share 2 | 196.0 | 260.3 | 467.7 | 570.3 | 393.0 | 494.8 | 649.8 | 788.7 |
| Announcement Date | 30/04/20 | 30/04/21 | 12/05/22 | 11/05/23 | 10/05/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2024 S2 | 2025 Q1 | 2025 Q2 | 2025 S1 | 2025 Q3 | 2025 Q4 | 2025 S2 | 2026 Q1 | 2026 S1 | 2026 S2 | 2027 S1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 6,18,844 | 6,68,160 | 7,30,942 | 9,32,514 | 5,06,474 | 5,64,817 | 10,71,291 | 4,73,654 | 7,09,243 | 11,82,897 | 4,67,831 | 5,58,297 | 10,26,128 | 3,91,746 | 4,27,826 | 8,19,572 | 4,63,662 | 5,47,293 | 10,10,955 | 5,01,975 | 5,21,383 | 9,80,000 | 5,75,860 | 6,30,328 | 12,50,000 | 6,31,500 | - | - | - |
| EBITDA 1 | - | - | - | - | 1,65,602 | 1,78,854 | - | 1,27,243 | 2,42,598 | - | 1,25,976 | 1,64,833 | - | 93,037 | 1,08,762 | - | 1,46,265 | 1,60,574 | - | 1,43,709 | 1,47,646 | - | 1,74,317 | 1,93,977 | - | - | - | - | - |
| EBIT 1 | 1,34,838 | 1,47,429 | 1,73,256 | 2,74,647 | 1,56,044 | 1,68,580 | 3,24,624 | 1,17,519 | 2,32,646 | 3,50,165 | 1,14,771 | 1,52,787 | 2,67,558 | 82,433 | 96,145 | 1,78,578 | 1,32,460 | 1,45,225 | 2,77,685 | 1,29,237 | 1,34,775 | 2,48,000 | 1,62,212 | 1,86,700 | 3,52,000 | 1,83,500 | - | - | - |
| Operating Margin | 21.79% | 22.06% | 23.7% | 29.45% | 30.81% | 29.85% | 30.3% | 24.81% | 32.8% | 29.6% | 24.53% | 27.37% | 26.07% | 21.04% | 22.47% | 21.79% | 28.57% | 26.54% | 27.47% | 25.75% | 25.85% | 25.31% | 28.17% | 29.62% | 28.16% | 29.06% | - | - | - |
| Earnings before Tax (EBT) 1 | - | 1,47,709 | 1,69,329 | 2,73,050 | 1,55,518 | 1,68,130 | 3,23,648 | 1,17,642 | 2,35,274 | 3,52,916 | 1,16,302 | 1,55,638 | 2,71,940 | 83,014 | 98,122 | 1,81,136 | 1,34,443 | 1,57,860 | 2,92,303 | 1,32,375 | 1,32,025 | - | 1,60,925 | 1,85,425 | - | 1,98,000 | - | - | - |
| Net income 1 | 1,06,484 | 1,12,012 | 1,30,929 | 2,00,219 | 1,10,026 | 1,26,831 | 2,36,857 | 88,095 | 1,79,251 | 2,67,346 | 85,574 | 1,18,664 | 2,04,238 | 64,312 | 73,179 | 1,37,491 | 1,01,533 | 1,24,939 | 2,26,472 | 94,562 | 1,04,573 | 1,90,000 | 1,25,857 | 1,42,762 | 2,48,000 | 1,39,050 | - | - | - |
| Net margin | 17.21% | 16.76% | 17.91% | 21.47% | 21.72% | 22.46% | 22.11% | 18.6% | 25.27% | 22.6% | 18.29% | 21.25% | 19.9% | 16.42% | 17.1% | 16.78% | 21.9% | 22.83% | 22.4% | 18.84% | 20.06% | 19.39% | 21.86% | 22.65% | 19.84% | 22.02% | - | - | - |
| EPS 2 | 226.8 | 240.1 | 280.6 | 428.9 | 232.2 | 274.9 | 507.0 | 188.5 | 383.2 | 571.8 | 182.7 | 253.4 | 436.1 | 137.5 | 157.7 | 295.1 | 219.0 | 269.6 | 488.6 | 214.5 | 224.3 | 395.9 | 281.0 | 308.2 | 530.8 | 326.0 | - | - | - |
| Dividend per Share 2 | 114.0 | 120.0 | 140.3 | 214.3 | - | 253.3 | 253.3 | - | 285.7 | 285.7 | - | 284.7 | 284.7 | - | 148.0 | 148.0 | - | 245.0 | 245.0 | - | 236.8 | 212.7 | - | 252.8 | 277.0 | - | 289.0 | 358.0 | 350.0 |
| Announcement Date | 30/04/20 | 29/10/20 | 30/04/21 | 12/11/21 | 10/02/22 | 12/05/22 | 12/05/22 | 08/08/22 | 10/11/22 | 10/11/22 | 09/02/23 | 11/05/23 | 11/05/23 | 10/08/23 | 10/11/23 | 10/11/23 | 09/02/24 | 10/05/24 | 10/05/24 | - | - | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 3,38,406 | 3,11,552 | 3,71,274 | 4,73,100 | 4,72,548 | 4,71,099 | 6,13,600 | 7,59,828 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 2,03,748 | 1,27,614 | 2,27,755 | 3,59,373 | 3,09,572 | 2,97,134 | 4,74,327 | 5,87,338 |
| ROE (net income / shareholders' equity) | 21.8% | 26.5% | 37.2% | 32.3% | 21.8% | 24.7% | 28.4% | 30% |
| ROA (Net income/ Total Assets) | 19.3% | 23.8% | 36.3% | 29.7% | 19.4% | 19.2% | 20.7% | 23% |
| Assets 1 | 9,58,664 | 10,19,671 | 12,05,714 | 15,86,336 | 18,73,329 | 23,70,397 | 28,87,270 | 31,28,211 |
| Book Value Per Share 2 | 1,756 | 2,171 | 2,857 | 3,390 | 3,773 | 4,179 | 4,853 | 5,730 |
| Cash Flow per Share 2 | 452.0 | 593.0 | 1,015 | 1,100 | 896.0 | 1,168 | 1,624 | 1,634 |
| Capex 1 | 49,369 | 53,806 | 56,153 | 66,897 | 1,24,980 | 1,70,333 | 1,26,170 | 1,42,000 |
| Capex / Sales | 4.38% | 3.85% | 2.8% | 3.03% | 6.83% | 7.76% | 4.85% | 4.75% |
| Announcement Date | 30/04/20 | 30/04/21 | 12/05/22 | 11/05/23 | 10/05/24 | - | - | - |
1JPY in Million2JPY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
BUY
Number of Analysts
19
Last Close Price
34,920
JPY
Average target price
39,868
JPY
Spread / Average Target
+14.17%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +38.27% | 10TCr | |
| +41.32% | 40TCr | |
| +34.10% | 14TCr | |
| +29.26% | 2.33TCr | |
| +11.46% | 2.01TCr | |
| +41.53% | 1.07TCr | |
| +22.76% | 890.98Cr | |
| -29.92% | 556.37Cr | |
| +64.87% | 516.39Cr | |
| +30.00% | 514.35Cr |
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