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Tokyo Electron Device Limited
(2760)
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Rating:70Outperform
Price Target:
¥4,367.00
▲(35.83% Upside)
Action:Upgraded
Date:08/06/26
The score is driven by solid profitability and a de-risking balance sheet, plus strong technical uptrend signals. The main offset is weak and inconsistent cash generation relative to earnings, which reduces confidence in the durability of reported results; valuation and dividend yield provide additional support.
Positive Factors
TTM revenue recovery
The return to revenue growth indicates improving demand and customer activity. Sustained recovery would support earnings through higher distribution volumes and solution-project throughput, while reducing reliance on cost control alone to maintain profitability.
Negative Factors
Weak and volatile cash conversion
Cash generation remains low relative to earnings and has repeatedly swung negative, indicating working-capital or timing sensitivity. Persistent weak conversion could constrain reinvestment, dividends, and balance-sheet flexibility despite reported profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
TTM revenue recovery
The return to revenue growth indicates improving demand and customer activity. Sustained recovery would support earnings through higher distribution volumes and solution-project throughput, while reducing reliance on cost control alone to maintain profitability.
Read all positive factors
Tokyo Electron Device Limited (2760) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥122.16B
Dividend Yield2.7%
Average Volume (3M)109.76K
Price to Earnings (P/E)12.6
Beta (1Y)1.13
Revenue Growth6.85%
EPS Growth23.99%
CountryJP
Employees1,408
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)314.74
Shares Outstanding31,336,500
10 Day Avg. Volume120,410
30 Day Avg. Volume109,756
Financial Highlights & Ratios
PEG Ratio-1.10
Price to Book (P/B)1.65
Price to Sales (P/S)0.43
P/FCF Ratio5.66
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)288.6
Revenue Forecast (FY)¥225.00B
Tokyo Electron Device Limited Business Overview & Revenue Model
Company Description
Operating as a global technology trading firm, Tokyo Electron Device Limited specializes in the provision of electronic components and comprehensive computer networking solutions across international markets. The company actively participates in t...
How the Company Makes Money
Tokyo Electron Device makes money primarily through (1) product sales as a value-added distributor and (2) solution/engineering-related services tied to those sales. Key revenue streams include: (a) Distribution/Resale (Trading) Revenue: The compa...
Tokyo Electron Device Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
74
Positive
Cash Flow
41
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 218.93B | 203.75B | 216.38B | 242.89B | 240.35B | 179.91B |
| Gross Profit | 34.39B | 31.54B | 33.73B | 37.17B | 34.24B | 25.64B |
| EBITDA | 14.56B | 11.33B | 12.75B | 14.88B | 13.03B | 8.86B |
| Net Income | 9.28B | 7.84B | 8.88B | 9.99B | 8.78B | 5.08B |
Balance Sheet | ||||||
| Total Assets | 163.59B | 162.21B | 157.60B | 163.35B | 143.75B | 108.05B |
| Cash, Cash Equivalents and Short-Term Investments | 5.45B | 7.62B | 8.38B | 6.87B | 6.54B | 5.13B |
| Total Debt | 33.53B | 29.43B | 42.63B | 52.10B | 45.65B | 29.48B |
| Total Liabilities | 109.23B | 108.45B | 108.59B | 117.16B | 104.75B | 76.03B |
| Stockholders Equity | 53.43B | 52.83B | 47.86B | 45.04B | 37.85B | 30.95B |
Cash Flow | ||||||
| Free Cash Flow | 897.00M | 15.41B | 17.36B | -602.00M | -12.46B | -1.27B |
| Operating Cash Flow | 1.13B | 15.68B | 18.91B | 301.00M | -12.19B | -891.00M |
| Investing Cash Flow | 839.00M | 1.20B | -2.07B | -2.69B | -199.00M | -155.00M |
| Financing Cash Flow | -3.85B | -17.85B | -15.25B | 2.53B | 13.75B | 606.00M |
Tokyo Electron Device Limited Technical Analysis
Neutral
3215.00
Price Trends
3996.80
Negative
3822.25
Positive
3541.79
Positive
Market Momentum
46.44
Positive
46.08
Neutral
11.42
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2760, the sentiment is Neutral. The current price of 3215 is below the 20-day moving average (MA) of 4105.75, below the 50-day MA of 3996.80, and below the 200-day MA of 3541.79, indicating a neutral trend. The MACD of 46.44 indicates Positive momentum. The RSI at 46.08 is Neutral, neither overbought nor oversold. The STOCH value of 11.42 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:2760.
Tokyo Electron Device Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ¥1.21T | 18.01 | 11.50% | 1.61% | 6.01% | 28.51% | |
78 Outperform | ¥1.08T | 25.97 | 16.99% | 0.77% | 21.68% | 48.38% | |
72 Outperform | ¥19.38T | 39.37 | 13.44% | 0.77% | 16.95% | 23.91% | |
70 Outperform | ¥122.16B | 12.61 | ― | 3.02% | 6.85% | 23.99% | |
63 Neutral | ¥371.35B | 23.78 | ― | 1.61% | -18.36% | -19.56% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | ¥374.00B | 21.86 | 5.66% | 1.58% | 7.14% | 2.56% |
* Technology Sector Average
JP:2760
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Tokyo Electron Device Limited Corporate Events
Tokyo Electron Device Expands Performance-Linked Stock Compensation for Executives
Jul 29, 2026
Tokyo Electron Device Limited has approved an additional cash contribution to its performance-linked stock-based remuneration plans for corporate directors and corporate officers. The plans, implemented through a Board Incentive Plan trust, are de...
Tokyo Electron Device Lifts Earnings Outlook on Strong Semiconductor and IT Demand
Jul 29, 2026
Tokyo Electron Device has sharply raised its consolidated forecasts for the six months ending September 30, 2026, citing stronger-than-expected sales in electronic components and computer networks. Net sales for the first half are now projected at...
Tokyo Electron Device Lifts Profit and Dividend Outlook on Strong Q1 Rebound
Jul 29, 2026
Tokyo Electron Device posted a strong rebound for the quarter ended June 30, 2026, with net sales rising 33.6% year-on-year to 60.3 billion yen and operating income nearly tripling. Net income attributable to owners of the parent jumped 117.7% to ...
Tokyo Electron Device Affirms Independence From Major Shareholder Tokyo Electron
Jun 22, 2026
Tokyo Electron Device Limited has clarified its relationship with major shareholder Tokyo Electron Limited, stating that the 33.9% stake held by the affiliate does not translate into effective control or interference in its management decisions. T...
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.