Toenec Corporation (JP:1946)
:1946
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Toenec Corporation
(1946)
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Rating:69Neutral
Price Target:
¥2,676.00
▲(38.01% Upside)
Action:ReiteratedDate:05/01/26
The score is driven primarily by improving financial performance (steady growth, profitability rebound, and better leverage) tempered by variable margins and cash-flow volatility. Valuation is supportive with a moderate P/E and solid dividend yield, while technical indicators are positive on trend but mixed on momentum.
Positive Factors
Revenue Growth
Consistent top-line growth (~11.9% latest) indicates durable demand and expanding project wins. Sustained revenue acceleration supports better capacity utilization, improves operating leverage over time, and provides a platform to invest in backlog, resources, and margin improvement across subsequent quarters.
Negative Factors
Modest, Variable Margins
Narrow and inconsistent margins limit the company’s ability to self-fund growth and absorb cost shocks. In engineering and construction, small margin swings can materially affect net income; persistent modest margins constrain retained earnings and make performance sensitive to project mix and execution over time.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Consistent top-line growth (~11.9% latest) indicates durable demand and expanding project wins. Sustained revenue acceleration supports better capacity utilization, improves operating leverage over time, and provides a platform to invest in backlog, resources, and margin improvement across subsequent quarters.
Read all positive factors
Toenec Corporation (1946) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥234.65B
Dividend Yield3.09%
Average Volume (3M)107.85K
Price to Earnings (P/E)10.4
Beta (1Y)0.96
Revenue Growth0.55%
EPS Growth65.67%
CountryJP
Employees6,077
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)74.19
Shares Outstanding96,649,950
10 Day Avg. Volume122,180
30 Day Avg. Volume107,850
Financial Highlights & Ratios
PEG Ratio0.16
Price to Book (P/B)1.20
Price to Sales (P/S)0.68
P/FCF Ratio10.18
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)185.3
Revenue Forecast (FY)¥276.00B
Toenec Corporation Business Overview & Revenue Model
Company Description
Toenec Corporation, an integrated facility company, engages in the construction and improvement of social infrastructure in the energy, environment, and information technology fields in Japan. The company constructs electricity distribution routes...
Toenec Corporation Financial Statement Overview
Summary
Income Statement
73
Positive
Balance Sheet
70
Positive
Cash Flow
66
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 272.14B | 272.47B | 270.97B | 252.86B | 232.05B | 219.62B |
| Gross Profit | 41.73B | 48.45B | 40.48B | 37.41B | 32.32B | 34.90B |
| EBITDA | 29.17B | 32.51B | 28.82B | 27.40B | 8.28B | 23.38B |
| Net Income | 10.90B | 17.81B | 10.76B | 9.35B | -5.55B | 8.28B |
Balance Sheet | ||||||
| Total Assets | 292.95B | 312.05B | 315.28B | 310.57B | 305.22B | 306.59B |
| Cash, Cash Equivalents and Short-Term Investments | 40.20B | 47.82B | 43.03B | 39.78B | 31.80B | 30.52B |
| Total Debt | 81.40B | 83.76B | 91.17B | 93.02B | 97.06B | 98.98B |
| Total Liabilities | 157.46B | 158.88B | 178.60B | 179.43B | 188.03B | 179.99B |
| Stockholders Equity | 135.45B | 153.12B | 136.63B | 131.10B | 117.16B | 126.57B |
Cash Flow | ||||||
| Free Cash Flow | 2.48B | 18.12B | 11.62B | 14.44B | 9.02B | -455.00M |
| Operating Cash Flow | 3.72B | 25.19B | 17.77B | 17.75B | 11.40B | 4.52B |
| Investing Cash Flow | -806.00M | -4.57B | -3.72B | -2.64B | -3.01B | 2.29B |
| Financing Cash Flow | -4.62B | -14.94B | -11.79B | -7.95B | -6.23B | -25.42B |
Toenec Corporation Technical Analysis
Negative
1939.00
Price Trends
2091.99
Negative
2016.49
Positive
1699.78
Positive
Market Momentum
1.12
Negative
45.43
Neutral
25.27
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:1946, the sentiment is Negative. The current price of 1939 is below the 20-day moving average (MA) of 2043.20, below the 50-day MA of 2091.99, and above the 200-day MA of 1699.78, indicating a neutral trend. The MACD of 1.12 indicates Negative momentum. The RSI at 45.43 is Neutral, neither overbought nor oversold. The STOCH value of 25.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:1946.
Toenec Corporation Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | ¥139.74B | 9.06 | ― | 3.22% | 12.15% | 47.17% | |
80 Outperform | ¥137.97B | 9.59 | ― | 1.55% | 21.42% | 89.59% | |
78 Outperform | ¥262.06B | 13.33 | 7.43% | 2.78% | 2.69% | -6.90% | |
77 Outperform | ¥97.86B | 11.64 | ― | 4.38% | -6.07% | 44.83% | |
69 Neutral | ¥234.65B | 10.36 | ― | 3.09% | 0.55% | 65.67% | |
64 Neutral | ¥170.58B | 17.02 | ― | 2.87% | -1.92% | -12.16% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
JP:1946
Toenec Corporation
2,454.00
1,371.77
126.75%
JP:1941
CHUDENKO
4,720.00
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44.76%
JP:1926
Raito Kogyo Co., Ltd.
3,860.00
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50.28%
JP:1934
Yurtec Corporation
2,447.00
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37.15%
JP:1939
Yondenko Corporation
2,020.00
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65.28%
JP:1965
Techno Ryowa Ltd.
6,730.00
3,912.98
138.90%
Toenec Corporation Corporate Events
Toenec Raises 2027 Targets and Sharpens Focus on Capital-Efficient Management
Apr 28, 2026
Toenec Corporation has revised upward the financial targets in its Medium-term Management Plan 2027 after meeting prior goals for net sales, ordinary profit, and ROE for the fiscal year ended March 2026 ahead of schedule. The company now aims for ...
Toenec Lifts Annual Dividend as Payout Policy Targets Growth and Shareholder Returns
Apr 28, 2026
Toenec Corporation’s board has approved a proposal to pay a year-end dividend of ¥48 per share for the fiscal year ended March 31, 2026, to be submitted for shareholder approval at the June 25, 2026 general meeting. Combined with the in...
Toenec Boosts Profitability, Raises Dividend and Targets Further Growth for FY 2027
Apr 28, 2026
Toenec Corporation reported modestly higher net sales of ¥272.5 billion for the fiscal year ended March 31, 2026, but significantly improved profitability, with operating profit up 33.5% and profit attributable to owners of parent jumping 65....
Toenec Trims Size of Restricted Stock Disposal After Partial Forfeiture of Rights
Apr 2, 2026
Toenec Corporation has completed the payment procedures for the disposal of treasury shares used for a restricted stock incentive under its employee stock ownership plan. The transaction, originally approved in November 2025, was executed on April...
Toenec Confirms Reviewed Nine-Month Results as Profit Jumps Despite Lower Sales
Feb 9, 2026
Toenec Corporation reported consolidated financial results for the nine months ended December 31, 2025, under Japanese GAAP, confirming that its interim review by independent auditors has been completed with no changes to the figures previously di...
Toenec Lifts Profit 80% on Higher Margins Despite Lower Sales
Feb 2, 2026
Toenec Corporation reported consolidated net sales of ¥192.1 billion for the nine months ended December 31, 2025, down 3.1% year on year, but delivered a sharp profit recovery with operating profit up 28.6% to ¥12.9 billion and profit at...
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.