TOTO Ltd (JP:5332)
:5332
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TOTO
(5332)
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Rating:67Neutral
Price Target:
¥6,971.00
▲(26.24% Upside)
Action:ReiteratedDate:05/02/26
The score is driven primarily by solid financial performance (low leverage and improved profitability), partially offset by inconsistent cash-flow conversion. Technical signals are mixed with neutral momentum despite price strength versus key moving averages, and valuation looks only fair with a modest dividend yield.
Positive Factors
Conservative balance sheet / low leverage
TOTO's low leverage (debt-to-equity ~0.13) gives durable financial flexibility and resilience to construction-cycle swings. A conservative balance sheet supports multi-quarter capital allocation, funding for R&D or maintenance, and the ability to sustain dividends or investments without needing external financing.
Negative Factors
Inconsistent free cash flow conversion
Variable FCF conversion and periods where free cash flow lagged net income reduce the reliability of internally generated funds. This inconsistency complicates predictable funding for capex, dividends and strategic initiatives, and increases sensitivity to working-capital swings across quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet / low leverage
TOTO's low leverage (debt-to-equity ~0.13) gives durable financial flexibility and resilience to construction-cycle swings. A conservative balance sheet supports multi-quarter capital allocation, funding for R&D or maintenance, and the ability to sustain dividends or investments without needing external financing.
Read all positive factors
TOTO (5332) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.02T
Dividend Yield2.36%
Average Volume (3M)683.91K
Price to Earnings (P/E)17.9
Beta (1Y)0.72
Revenue Growth1.79%
EPS Growth239.72%
CountryJP
Employees33,386
SectorIndustrials
Sector Strength72
IndustryConstruction
Share Statistics
EPS (TTM)57.53
Shares Outstanding166,358,400
10 Day Avg. Volume690,950
30 Day Avg. Volume683,906
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)1.60
Price to Sales (P/S)1.14
P/FCF Ratio24.26
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥6,325.56Price Target Upside14.55% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)281.26
Revenue Forecast (FY)¥772.00B
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 primarily makes money by selling manufactured housing and building products, with revenue recognized from shipments and sales to distribution and project channels. The core revenue stream is sanitary ware and bathroom-related products—such as...
TOTO Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
82
Very Positive
Cash Flow
63
Positive
| Breakdown | TTM | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 725.69B | 737.44B | 724.45B | 702.28B | 701.19B | 645.27B |
| Gross Profit | 253.68B | 262.58B | 254.07B | 239.00B | 242.97B | 236.89B |
| EBITDA | 54.20B | 88.12B | 59.67B | 88.58B | 91.46B | 84.92B |
| Net Income | 9.73B | 40.26B | 12.17B | 37.20B | 38.94B | 40.13B |
Balance Sheet | ||||||
| Total Assets | 770.44B | 827.48B | 813.92B | 790.25B | 731.64B | 641.02B |
| Cash, Cash Equivalents and Short-Term Investments | 92.59B | 132.85B | 122.75B | 103.55B | 98.12B | 90.54B |
| Total Debt | 24.65B | 67.78B | 75.03B | 72.09B | 73.09B | 39.84B |
| Total Liabilities | 262.40B | 293.57B | 283.52B | 279.70B | 270.54B | 227.65B |
| Stockholders Equity | 500.41B | 528.23B | 522.28B | 502.72B | 453.80B | 405.74B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 34.76B | 26.83B | 25.18B | 3.83B | 19.23B |
| Operating Cash Flow | 0.00 | 71.24B | 71.38B | 76.31B | 31.58B | 49.36B |
| Investing Cash Flow | 0.00 | -21.82B | -38.38B | -53.79B | -35.27B | -31.89B |
| Financing Cash Flow | 0.00 | -38.55B | -19.01B | -18.95B | 8.78B | -75.77B |
TOTO Technical Analysis
Positive
5522.00
Price Trends
5655.37
Negative
5022.89
Positive
4419.68
Positive
Market Momentum
-12.53
Negative
50.32
Neutral
56.20
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5332, the sentiment is Positive. The current price of 5522 is above the 20-day moving average (MA) of 5451.82, below the 50-day MA of 5655.37, and above the 200-day MA of 4419.68, indicating a neutral trend. The MACD of -12.53 indicates Negative momentum. The RSI at 50.32 is Neutral, neither overbought nor oversold. The STOCH value of 56.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | ¥34.87B | 7.75 | ― | 3.59% | 7.84% | 29.36% | |
67 Neutral | ¥1.02T | 17.88 | 0.85% | 2.36% | 1.79% | 239.72% | |
67 Neutral | ¥103.44B | 8.48 | 2.57% | 3.57% | -0.08% | -22.94% | |
66 Neutral | ¥6.69T | 42.68 | 9.46% | 1.52% | 2.13% | 7.98% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
55 Neutral | ¥477.77B | -31.80 | 1.44% | 4.80% | 0.40% | 306.91% | |
54 Neutral | ¥19.79B | 5.49 | ― | 4.35% | -3.83% | -372.40% |
* Industrials Sector Average
JP:5332
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TOTO Corporate Events
TOTO Raises Year-End Dividend, Lifting Planned Annual Payout to 110 Yen
Apr 30, 2026
TOTO has revised its year-end dividend for the fiscal year ended March 31, 2026, raising the planned payout to 60 yen per share from the previously forecast 50 yen, up from 50 yen a year earlier. This lifts the planned annual dividend to 110 yen p...
TOTO Beats Profit Forecasts on Strong Housing and Semiconductor-Linked Demand
Apr 30, 2026
TOTO reported that its full-year consolidated results for the fiscal year ended March 31, 2026 slightly exceeded net sales forecasts and significantly outperformed profit projections. Strong sales of new products in its Japan Housing Equipment Bus...
TOTO Leans on Remodeling Core and Semiconductor Ceramics Amid China Slowdown
Apr 30, 2026
TOTO reported results for the year ended March 31, 2026, highlighting a business portfolio built around its century-old core housing equipment and remodeling operations, complemented by an advanced ceramics segment supplying high-grade components ...
TOTO Profit Soars, Raises Dividend and Forecasts Further Growth
Apr 30, 2026
TOTO reported modest sales growth for the fiscal year ended March 31, 2026, with net sales up 1.8% to ¥737.4 billion, while operating profit rose 10.9% and ordinary profit jumped 20.5%. Profit attributable to owners of the parent surged more ...
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...
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.