First Bank of Toyama Ltd. (7184) AI Stock Analysis

• Market Cap: ¥154.30B
• Dividend Yield: 2.63%
• Average Volume (3M): 198.25K
• Price to Earnings (P/E): 8.8
• Beta (1Y): 1.29
• Revenue Growth: 23.55%
• EPS Growth: -21.15%
• Country: JP
• Employees: 611
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 167.13
• Shares Outstanding: 64,309,700
• 10 Day Avg. Volume: 146,740
• 30 Day Avg. Volume: 198,253
• PEG Ratio: 0.04
• Price to Book (P/B): 0.48
• Price to Sales (P/S): 1.54
• P/FCF Ratio: 15.57
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 72 Outperform
• Price Target: ¥2,725.00 ▲(50.14% Upside)
• Action: Reiterated Date: 02/07/26
• Date: Action: Reiterated 02/07/26

The score is driven primarily by strong financial performance (revenue/profitability growth and a stable balance sheet), supported by a clear uptrend in price. Offsetting factors include overbought technical signals and only moderate valuation support given the modest dividend yield.

Positive Factors

Revenue & Margin Expansion

Sustained revenue growth and rising net margins increase the bank's earnings power and capacity to build capital. Over a multi‑month horizon this supports lending capacity, profitability resilience versus cyclical shocks, and provides internal funding for strategic initiatives.

Improving Balance Sheet / Capitalization

A stronger equity base and lower leverage improve solvency and regulatory headroom, enabling the bank to absorb loan losses and expand lending without immediate external capital. This durable capital strength reduces funding stress and supports long‑term stability.

Stable Regional Franchise

A focused regional deposit and SME lending franchise creates dependable deposit funding and deep customer relationships. These structural ties to local businesses and governments support steady loan demand, fee income and lower customer churn over the medium term.

Negative Factors

Volatile Operating Cash Flow

Historic swings in operating cash flow reduce predictability of free cash flow, complicating dividend sustainability and reinvestment plans. Even with recent recovery, persistent volatility raises earnings quality concerns and may force conservative capital allocation.

Negative EPS Trend

A declining EPS trend erodes per‑share earnings power and signals either margin pressure, nonrecurring charges, or capital inefficiency. If this trend persists it undermines shareholder returns and limits the bank's ability to organically build book value over time.

Concentration to Local Economy

Heavy exposure to a single regional economy concentrates credit and deposit risk; a localized economic downturn or adverse demographic trends could materially impair loan performance and deposit growth, limiting diversification and long‑term growth potential.

First Bank of Toyama Ltd. Business Overview & Revenue Model

Company Description

The First Bank Of Toyama, Ltd. provides banking and financial services for individual, corporate, and business customers. It offers general accounts; savings, foreign currency, time, periodic, and other deposits; housing, auto, education, remodeling, free, and card loans; investment trust; public bonds; brokerage products; pension and insurance products; and Internet banking services. The company operates 66 branches. The First Bank Of Toyama, Ltd. was founded in 1944 and is headquartered in Toyama, Japan.

How the Company Makes Money

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First Bank of Toyama Ltd. Financial Statement Overview

Summary

Strong income statement performance (revenue and margin expansion) and a stable balance sheet with improving leverage support a solid financial profile. The main constraint is historically volatile operating cash flow despite recent improvement.

Income Statement

The income statement shows strong growth, with a consistent increase in total revenue over the years, especially a significant jump from 2024 to 2025. Gross Profit Margin remains high, indicating efficient cost management. Net Profit Margin has improved substantially, suggesting enhanced profitability. The EBIT Margin reflects operational efficiency, and the EBITDA Margin remains robust. Overall, the company demonstrates a positive revenue growth trend and solid profitability metrics.

Balance Sheet

The balance sheet reflects a solid equity base, with Stockholders' Equity steadily increasing. The Debt-to-Equity Ratio has decreased, indicating improved financial leverage and reduced risk. Return on Equity is strong, showcasing effective use of equity to generate profits. The Equity Ratio is healthy, emphasizing a stable capital structure. Despite the positive aspects, maintaining a low Total Debt is crucial for sustained financial health.

Cash Flow

Cash flow statement analysis reveals significant fluctuations in operating cash flow, with notable negative figures in prior years turning positive recently. Free Cash Flow shows recovery, aligning with operational improvements. The Operating Cash Flow to Net Income Ratio suggests improving cash generation efficiency. However, past volatility highlights the need for consistent cash flow generation. Overall, recent trends indicate improvement, but historical volatility poses a risk.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	40.25B	47.47B	37.66B	34.28B	27.36B	28.41B
Gross Profit	40.25B	46.22B	37.48B	34.11B	27.17B	28.12B
EBITDA	9.73B	20.14B	9.90B	7.05B	5.93B	4.58B
Net Income	10.29B	13.35B	5.28B	4.20B	3.49B	2.29B
Balance Sheet
Total Assets	1.61T	1.59T	1.58T	1.49T	1.47T	1.43T
Cash, Cash Equivalents and Short-Term Investments	0.00	80.71B	68.64B	74.90B	55.07B	75.00B
Total Debt	10.08B	19.81B	53.18B	23.96B	63.41B	61.65B
Total Liabilities	1.45T	1.44T	1.42T	1.36T	1.35T	1.31T
Stockholders Equity	158.60B	152.52B	148.68B	115.12B	114.07B	111.63B
Cash Flow
Free Cash Flow	0.00	4.71B	7.21B	-24.09B	-4.79B	-21.54B
Operating Cash Flow	0.00	5.66B	8.20B	-23.70B	-4.27B	-21.10B
Investing Cash Flow	0.00	11.18B	-12.51B	46.04B	-14.57B	29.63B
Financing Cash Flow	0.00	-2.59B	-2.04B	-1.98B	-800.00M	-826.00M

First Bank of Toyama Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1815.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:7184, the sentiment is Positive. The current price of 1815 is below the 20-day moving average (MA) of 2519.85, below the 50-day MA of 2378.62, and above the 200-day MA of 1582.69, indicating a neutral trend. The MACD of -9.15 indicates Positive momentum. The RSI at 49.96 is Neutral, neither overbought nor oversold. The STOCH value of 48.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:7184.

First Bank of Toyama Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
7184	72 Outperform	¥154.30B	8.80	―	2.63%	23.55%	-21.15%
8392	72 Outperform	¥144.48B	8.04	3.68%	2.26%	9.34%	20.61%
8393	72 Outperform	¥145.72B	7.55	―	2.29%	13.93%	54.44%
7322	71 Outperform	¥154.56B	7.21	―	2.96%	14.85%	21.17%
8360	69 Neutral	¥152.84B	9.79	―	2.56%	17.66%	49.06%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
8365	66 Neutral	¥12.22B	21.28	―	2.68%	5.57%	-23.26%

First Bank of Toyama Ltd. Corporate Events

First Bank of Toyama Lifts Profit Outlook and Sharply Increases Dividend Forecast

The First Bank of Toyama has sharply raised its earnings outlook for the fiscal year ending March 31, 2026, forecasting consolidated ordinary profit of ¥20.3 billion and profit attributable to owners of parent of ¥14.0 billion, both around 40% above its previous guidance and exceeding last year’s results. The upgrade reflects stronger-than-expected net interest income from loans and securities, as well as higher gains on stocks, and has prompted the bank to significantly lift its annual dividend forecast to ¥78 per share from ¥56, in line with its policy of returning at least 35% of profit to shareholders; the bank also signaled potential future share buybacks as it continues to expand shareholder returns.

The most recent analyst rating on (JP:7184) stock is a Hold with a Yen2431.00 price target. To see the full list of analyst forecasts on First Bank of Toyama Ltd. stock, see the JP:7184 Stock Forecast page.

First Bank of Toyama Profits Decline but Capital and Dividend Outlook Strengthen

For the nine months ended December 31, 2025, The First Bank of Toyama reported a year-on-year decline in performance, with ordinary income down 8.3% to ¥37.86 billion, ordinary profit down 23.8% to ¥14.74 billion and profit attributable to owners of parent falling 22.7% to ¥10.54 billion, which also lowered basic earnings per share to ¥167.13. Despite weaker profits, the bank’s financial position strengthened, as total assets rose to ¥1.67 trillion and net assets increased to ¥193.27 billion, lifting its equity-to-asset ratio to 11.6%, while management raised its full-year dividend forecast sharply to ¥78 per share and revised its earnings outlook upward, now projecting ordinary profit of ¥20.3 billion and profit attributable to owners of parent of ¥14 billion for the fiscal year ending March 31, 2026, signaling confidence in capital strength and future profitability for shareholders.

The most recent analyst rating on (JP:7184) stock is a Hold with a Yen2431.00 price target. To see the full list of analyst forecasts on First Bank of Toyama Ltd. stock, see the JP:7184 Stock Forecast page.