Toa Road Corporation (JP:1882)
:1882
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Toa Road Corporation
(1882)
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Rating:68Neutral
Price Target:
¥1,728.00
▲(0.88% Upside)
Action:Reiterated
Date:05/12/26
The score is driven primarily by a strong balance sheet and attractive shareholder return profile (high dividend yield with a reasonable P/E). Offsetting these positives, cash-flow volatility reduces financial consistency and technical indicators point to ongoing bearish momentum.
Positive Factors
Conservative balance sheet
Low leverage and a sizable equity base give Toa Road durable financial flexibility in a cyclical construction sector. This permits competitive bidding on large public projects, cushions downturns, and supports capital spending or shareholder distributions without immediate refinancing pressure.
Negative Factors
Cash-flow volatility
Significant working-capital swings are inherent in construction, and Toa Road's alternating OCF profile raises predictability risk. Volatile cash flow hampers consistent investment, increases reliance on short-term financing in weak years, and makes sustaining payouts and capex planning harder.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and a sizable equity base give Toa Road durable financial flexibility in a cyclical construction sector. This permits competitive bidding on large public projects, cushions downturns, and supports capital spending or shareholder distributions without immediate refinancing pressure.
Read all positive factors
Toa Road Corporation (1882) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥77.10B
Dividend Yield8.02%
Average Volume (3M)417.02K
Price to Earnings (P/E)23.0
Beta (1Y)0.60
Revenue Growth-4.15%
EPS Growth-16.83%
CountryJP
Employees1,655
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)96.29
Shares Outstanding50,394,730
10 Day Avg. Volume328,020
30 Day Avg. Volume417,023
Financial Highlights & Ratios
PEG Ratio-1.37
Price to Book (P/B)1.47
Price to Sales (P/S)0.65
P/FCF Ratio8.15
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Toa Road Corporation Business Overview & Revenue Model
Company Description
Toa Road Corporation engages in civil engineering business in Japan. The company constructs road networks and transportation infrastructure, such as expressways and national roads, as well as paving on bridges and tunnels; and enhances aged infras...
How the Company Makes Money
Toa Road Corporation generates revenue primarily through its construction and civil engineering projects, focusing on road construction and maintenance contracts. The company earns income from its pavement material business, particularly the produ...
Toa Road Corporation Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
82
Very Positive
Cash Flow
61
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 126.54B | 121.33B | 126.58B | 118.06B | 118.72B | 112.12B |
| Gross Profit | 14.09B | 14.53B | 13.49B | 13.48B | 12.34B | 12.78B |
| EBITDA | 7.77B | 5.79B | 7.32B | 7.70B | 6.80B | 7.66B |
| Net Income | 4.46B | 3.43B | 4.13B | 3.79B | 3.16B | 3.71B |
Balance Sheet | ||||||
| Total Assets | 76.03B | 88.50B | 90.72B | 92.89B | 87.18B | 84.69B |
| Cash, Cash Equivalents and Short-Term Investments | 10.55B | 13.91B | 12.31B | 14.23B | 10.00B | 11.65B |
| Total Debt | 787.00M | 4.63B | 6.68B | 2.10B | 2.80B | 2.13B |
| Total Liabilities | 23.99B | 33.44B | 33.79B | 36.82B | 34.47B | 34.22B |
| Stockholders Equity | 50.55B | 53.64B | 55.41B | 54.65B | 51.34B | 49.07B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 9.68B | -4.37B | 6.83B | -65.00M | 2.06B |
| Operating Cash Flow | 0.00 | 12.21B | -1.75B | 10.91B | 2.18B | 4.58B |
| Investing Cash Flow | 0.00 | -2.33B | -1.22B | -4.00B | -2.97B | -2.84B |
| Financing Cash Flow | 0.00 | -8.27B | 1.06B | -2.69B | -853.00M | -2.86B |
Toa Road Corporation Technical Analysis
Negative
1713.00
Price Trends
1770.63
Negative
1711.91
Negative
1610.62
Positive
Market Momentum
-28.63
Positive
34.14
Neutral
6.19
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:1882, the sentiment is Negative. The current price of 1713 is below the 20-day moving average (MA) of 1715.35, below the 50-day MA of 1770.63, and above the 200-day MA of 1610.62, indicating a neutral trend. The MACD of -28.63 indicates Positive momentum. The RSI at 34.14 is Neutral, neither overbought nor oversold. The STOCH value of 6.19 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:1882.
Toa Road Corporation Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥76.78B | 16.30 | ― | 0.99% | 21.37% | 44.91% | |
73 Outperform | ¥76.44B | 12.54 | ― | 1.25% | 4.37% | 6.30% | |
68 Neutral | ¥77.10B | 23.02 | ― | 8.02% | -4.15% | -16.83% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | ¥69.31B | 15.25 | ― | 3.64% | 4.96% | 17.55% | |
63 Neutral | ¥81.42B | 19.52 | ― | 3.63% | 20.40% | 50.00% | |
58 Neutral | ¥74.02B | -149.33 | ― | 2.73% | -2.86% | 50.42% |
* Industrials Sector Average
JP:1882
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Toa Road Corporation Corporate Events
Toa Road Lowers Profit and ROE Targets in Medium-Term Plan Amid Rising Costs
May 11, 2026
Toa Road Corporation has revised the financial targets in its medium-term management plan, the TOA ROAD Sustainable Plan 2026, which runs through the fiscal year ending March 31, 2027. The adjustment comes as the company responds to a markedly tou...
Toa Road Maintains ¥90 Dividend Despite Profit Decline, Targets High Shareholder Returns
May 11, 2026
Toa Road Corporation is a Japanese construction company listed on the Tokyo Stock Exchange Prime Market under securities code 1882, specializing in road-related civil engineering and infrastructure works. The company focuses on delivering stable s...
Toa Road Books ¥681 Million Impairment as Earnings Miss Forecasts
May 11, 2026
Toa Road Corporation reported an extraordinary impairment loss of ¥681 million on non-current assets in its construction and asphalt product businesses in certain regions where profitability has deteriorated. This write-down reflects weaker p...
Toa Road lifts profits on lower sales, maintains high payout as it forecasts earnings rebound
May 11, 2026
Toa Road Corporation reported a 4.1% decline in net sales to ¥121.3 billion for the fiscal year ended March 31, 2026, but improved profitability with operating profit up 15.4% to ¥5.8 billion and ordinary profit up 15.2% to ¥6.0 bil...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.