TOTO Ltd (JP:5332)
:5332
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TOTO
(5332)
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Rating:72Outperform
Price Target:
¥5,894.00
▲(8.73% Upside)
Action:UpgradedDate:04/14/26
The score is driven primarily by solid financial performance (strong balance sheet and operational margins, despite weaker net income) and supportive valuation (low P/E). Technical signals are mixed and weigh on the score due to near-term weakness versus the 20/50-day averages and negative MACD, offset by price strength versus longer-term averages.
Positive Factors
Balance Sheet Strength
High equity ratio and manageable leverage give TOTO financial stability, enabling sustained investment in product development, capex and distribution. This balance sheet strength supports resilience through construction cycles, preserves access to credit, and underpins long-term strategic flexibility.
Negative Factors
Declining Net Income / ROE
A substantial drop in net income and the resulting decline in net margin and ROE reduce retained earnings and weaken returns to shareholders. If persistent, this erosion of bottom-line profitability can limit reinvestment capacity and strain confidence in earnings quality over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
High equity ratio and manageable leverage give TOTO financial stability, enabling sustained investment in product development, capex and distribution. This balance sheet strength supports resilience through construction cycles, preserves access to credit, and underpins long-term strategic flexibility.
Read all positive factors
TOTO (5332) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥845.65B
Dividend Yield2.36%
Average Volume (3M)683.91K
Price to Earnings (P/E)9.0
Beta (1Y)0.71
Revenue Growth-0.03%
EPS Growth-89.02%
CountryJP
Employees33,386
SectorIndustrials
Sector Strength72
IndustryConstruction
Share Statistics
EPS (TTM)119.18
Shares Outstanding166,358,400
10 Day Avg. Volume690,950
30 Day Avg. Volume683,906
Financial Highlights & Ratios
PEG Ratio-0.81
Price to Book (P/B)1.26
Price to Sales (P/S)0.91
P/FCF Ratio24.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥6,194.87Price Target Upside14.28% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)280.91
Revenue Forecast (FY)¥769.00B
TOTO Business Overview & Revenue Model
Company Description
Toto Ltd. manufactures and sells bathroom and kitchen plumbing products worldwide. It offers sanitary ware, such as toilet basins, urinals, sinks, washbasins, etc.; system toilets; toilet seats; plumbing accessories, etc.; bathtubs; unit bathrooms...
How the Company Makes Money
TOTO makes money primarily by selling manufactured products to the housing and construction value chain. Its key revenue stream is the sale of sanitary ware and bathroom-related products—such as toilets, Washlet bidet toilet seats, bathroom unit s...
TOTO Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
80
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 725.69B | 724.45B | 702.28B | 701.19B | 645.27B | 580.93B |
| Gross Profit | 253.68B | 254.07B | 239.00B | 242.97B | 236.89B | 212.50B |
| EBITDA | 54.20B | 59.67B | 88.58B | 91.46B | 84.92B | 64.46B |
| Net Income | 9.73B | 12.17B | 37.20B | 38.94B | 40.13B | 27.20B |
Balance Sheet | ||||||
| Total Assets | 770.44B | 813.92B | 790.25B | 731.64B | 641.02B | 646.01B |
| Cash, Cash Equivalents and Short-Term Investments | 92.59B | 122.75B | 103.55B | 98.12B | 90.54B | 143.33B |
| Total Debt | 24.65B | 75.03B | 72.09B | 73.09B | 39.84B | 99.77B |
| Total Liabilities | 262.40B | 283.52B | 279.70B | 270.54B | 227.65B | 272.84B |
| Stockholders Equity | 500.41B | 522.28B | 502.72B | 453.80B | 405.74B | 366.50B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 26.83B | 25.18B | 3.83B | 19.23B | 20.81B |
| Operating Cash Flow | 0.00 | 71.38B | 76.31B | 31.58B | 49.36B | 59.55B |
| Investing Cash Flow | 0.00 | -38.38B | -53.79B | -35.27B | -31.89B | -42.62B |
| Financing Cash Flow | 0.00 | -19.01B | -18.95B | 8.78B | -75.77B | 22.70B |
TOTO Technical Analysis
Negative
5421.00
Price Trends
5621.14
Negative
4971.22
Positive
4389.26
Positive
Market Momentum
-29.89
Negative
47.82
Neutral
53.61
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5332, the sentiment is Negative. The current price of 5421 is below the 20-day moving average (MA) of 5485.24, below the 50-day MA of 5621.14, and above the 200-day MA of 4389.26, indicating a neutral trend. The MACD of -29.89 indicates Negative momentum. The RSI at 47.82 is Neutral, neither overbought nor oversold. The STOCH value of 53.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:5332.
TOTO Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ¥35.80B | 7.75 | ― | 3.59% | 6.91% | 13.17% | |
72 Outperform | ¥845.65B | 9.02 | 0.85% | 2.36% | -0.03% | -89.02% | |
67 Neutral | ¥104.84B | 8.48 | 2.57% | 3.57% | 2.69% | 1.74% | |
66 Neutral | ¥5.92T | 42.68 | 9.46% | 1.52% | 1.60% | 5.80% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
54 Neutral | ¥20.10B | 5.49 | ― | 4.35% | -4.00% | -386.52% | |
52 Neutral | ¥461.82B | 16.11 | 1.44% | 4.80% | 0.68% | ― |
* Industrials Sector Average
JP:5332
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TOTO Corporate Events
TOTO Revamps Board and Management to Speed Decisions Amid Market Shifts
Feb 25, 2026
TOTO has outlined a new board composition and management structure to be submitted to shareholders in June 2026, shifting greater authority to executive officers to speed up decision-making and business execution. The company will increase the pro...
TOTO Revamps Executive Lineup to Drive WILL2030 Transformation
Feb 25, 2026
TOTO Ltd. announced a comprehensive overhaul of its management and executive structure effective April 1, 2026, aligning its leadership roles with the “TOTO WILL2030” strategy that targets new value creation in lifestyles, society, and...
TOTO Leverages Core Remodeling Business While Expanding into Advanced Ceramics for Semiconductors
Jan 30, 2026
TOTO reported that its core housing equipment business, built over more than a century and led by its remodeling-focused sanitary ware and WASHLET lines, remains the main driver of profitability and global growth, particularly in the Americas and ...
TOTO Posts Slight Sales Growth but Lower Nine-Month Profit, Keeps Dividend and Full-Year Outlook Intact
Jan 30, 2026
TOTO reported consolidated net sales of ¥547.1 billion for the nine months ended December 31, 2025, a modest 0.9% year-on-year increase, while operating profit slipped 2.6% to ¥40.4 billion and profit attributable to owners of parent fel...
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.