Toppan Printing Co (7911) AI Stock Analysis

• Market Cap: ¥1.26T
• Dividend Yield: 1.13%
• Average Volume (3M): 1.05M
• Price to Earnings (P/E): 15.4
• Beta (1Y): 0.96
• Revenue Growth: 3.01%
• EPS Growth: 6.48%
• Country: JP
• Employees: 53,712
• Sector: Industrials
• Sector Strength: 72
• Industry: Specialty Business Services
• EPS (TTM): 71.51
• Shares Outstanding: 294,706,240
• 10 Day Avg. Volume: 1,089,770
• 30 Day Avg. Volume: 1,053,650
• PEG Ratio: 0.49
• Price to Book (P/B): 0.95
• Price to Sales (P/S): 0.71
• P/FCF Ratio: -20.98
• 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: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: ¥5,501.00 ▲(19.10% Upside)

Toppan Printing Co's stock score is driven by strong financial performance and bullish technical indicators. The company's robust revenue growth and profitability are offset by cash flow challenges. The technical analysis indicates strong momentum, though overbought conditions suggest caution. Valuation metrics show the stock is fairly valued, with a moderate dividend yield.

Positive Factors

Revenue Growth

Consistent revenue growth indicates Toppan's ability to expand its market presence and adapt to industry demands, supporting long-term business sustainability.

Balance Sheet Health

A solid balance sheet with prudent leverage management enhances financial stability, providing a strong foundation for future investments and growth.

Market Position

Diversified operations across multiple sectors strengthen Toppan's market position, reducing dependency on any single revenue stream and enhancing resilience.

Negative Factors

Cash Flow Challenges

Negative free cash flow indicates potential liquidity issues, which could limit Toppan's ability to invest in growth opportunities and manage financial obligations effectively.

Operational Efficiency

Lower EBIT margin highlights inefficiencies in operations, suggesting the need for cost optimization to enhance profitability and competitive edge.

Profitability Concerns

Moderate ROE suggests limited returns for shareholders, indicating potential challenges in maximizing shareholder value and attracting investment.

Toppan Printing Co Business Overview & Revenue Model

Company Description

Toppan Printing Co., Ltd. is a leading Japanese multinational company primarily engaged in printing and information services. Founded in 1900, Toppan operates across various sectors, including commercial printing, packaging, security printing, and digital solutions. The company is well-known for its innovative printing technologies and solutions, offering a wide range of products such as printed materials, packaging products, and security solutions, along with digital transformation services that enhance operational efficiency for clients across multiple industries.

How the Company Makes Money

Toppan Printing Co. generates revenue through multiple streams, primarily from its diverse printing services and solutions. Key revenue sources include commercial printing services, which cater to various sectors such as advertising, publishing, and packaging, and security printing services, which encompass banknotes, identification cards, and other secure documents. Additionally, the company earns money from its packaging solutions, which are increasingly in demand due to the growth of e-commerce and consumer goods sectors. Toppan also leverages digital transformation services, providing clients with innovative technologies that integrate printing with digital applications. Significant partnerships with major corporations across industries further bolster Toppan's earnings, as they provide a steady demand for its products and services. The company's commitment to research and development allows it to stay competitive and adapt to changing market trends, thus ensuring sustained revenue growth.

Toppan Printing Co Financial Statement Overview

Summary

Toppan Printing Co exhibits strong revenue growth and profitability, supported by a stable balance sheet. However, cash flow management poses challenges, particularly with negative free cash flow, indicating a need for improved liquidity management.

Income Statement

The income statement of Toppan Printing Co shows a strong financial performance with consistent revenue growth, notably a 2.37% increase from 2024 to 2025. The gross profit margin is healthy at 24.05%, and the net profit margin improved to 5.20% in 2025, indicating efficient cost management. However, the EBIT margin of 4.89% suggests room for improvement in operational efficiency. Overall, the company demonstrates robust revenue growth and profitability.

Balance Sheet

Toppan Printing Co maintains a solid balance sheet with a debt-to-equity ratio of 0.36, indicating prudent leverage management. The equity ratio stands at 51.44%, reflecting a strong equity base. Return on equity (ROE) is 6.91%, signifying moderate profitability relative to shareholders' equity. The company's financial stability is commendable, though ROE suggests potential for enhanced shareholder returns.

Cash Flow

The company's cash flow statement indicates a challenging year with a negative free cash flow in 2025 due to significant capital expenditures. The operating cash flow to net income ratio of 0.73 suggests efficient cash-generating operations, but the free cash flow to net income ratio is negative, pointing to cash flow pressures. While operational cash flows remain strong, improved cash management is necessary to enhance liquidity.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.71T	1.72T	1.68T	1.64T	1.55T	1.47T
Gross Profit	415.57B	413.04B	387.41B	362.16B	334.76B	301.40B
EBITDA	253.70B	258.59B	218.12B	189.33B	251.51B	198.96B
Net Income	88.73B	89.35B	74.39B	60.87B	123.18B	82.00B
Balance Sheet
Total Assets	2.44T	2.52T	2.43T	2.24T	2.29T	2.36T
Cash, Cash Equivalents and Short-Term Investments	376.26B	778.59B	558.03B	504.92B	464.65B	543.39B
Total Debt	476.68B	467.60B	208.46B	223.78B	254.08B	324.24B
Total Liabilities	1.04T	1.10T	865.58B	786.65B	850.98B	910.34B
Stockholders Equity	1.27T	1.29T	1.42T	1.33T	1.37T	1.32T
Cash Flow
Free Cash Flow	0.00	-58.33B	75.35B	40.69B	22.21B	20.25B
Operating Cash Flow	0.00	64.80B	157.13B	106.08B	64.75B	76.86B
Investing Cash Flow	0.00	47.02B	-3.78B	-29.95B	32.80B	81.31B
Financing Cash Flow	0.00	120.33B	-90.17B	-51.59B	-186.96B	42.15B

Toppan Printing Co Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 4619.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:7911, the sentiment is Neutral. The current price of 4619 is below the 20-day moving average (MA) of 4736.25, above the 50-day MA of 4189.04, and above the 200-day MA of 3989.73, indicating a neutral trend. The MACD of 168.30 indicates Positive momentum. The RSI at 52.31 is Neutral, neither overbought nor oversold. The STOCH value of 10.31 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:7911.

Toppan Printing Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
7911	74 Outperform	¥1.26T	15.42	6.28%	1.13%	3.01%	6.48%
7912	73 Outperform	$1.33T	14.97	6.97%	1.48%	3.37%	-31.10%
7914	70 Outperform	¥39.85B	11.64	―	3.74%	-0.04%	93.95%
7919	68 Neutral	¥3.50B	7.60	―	3.68%	0.62%	-24.08%
7893	65 Neutral	¥29.39B	-48.21	―	3.99%	4.10%	-121.49%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
7916	61 Neutral	¥5.56B	10.24	―	2.75%	-1.30%	―

Toppan Printing Co Corporate Events

Toppan Holdings Advances Share Buyback Strategy

Toppan Holdings Inc. has announced the acquisition of 740,500 of its own shares, amounting to approximately 2.88 billion yen, through market purchases on the Tokyo Stock Exchange. This action is part of a broader plan approved by the Board of Directors to acquire up to 11 million shares, reflecting the company’s strategic efforts to manage its capital structure and enhance shareholder value.

Toppan Holdings Reports Mixed Financial Results Amid Revenue Growth

Toppan Holdings Inc. reported a 4.3% increase in net sales for the six months ending September 30, 2025, but experienced declines in operating profit and ordinary profit by 12.8% and 19.7%, respectively. The company has revised its financial forecast for the fiscal year ending March 31, 2026, indicating a 4.1% increase in net sales but expecting a 17.7% decrease in operating profit, reflecting challenges in maintaining profitability despite revenue growth.

Toppan Holdings Acquires Own Shares to Optimize Capital Structure

Toppan Holdings Inc. announced the acquisition of 1,198,000 of its own shares through market purchases on the Tokyo Stock Exchange, amounting to 4,527,516,000 yen. This move is part of a larger plan approved by the Board of Directors to acquire up to 11,000,000 shares by May 2026, reflecting the company’s strategy to manage its capital structure and potentially enhance shareholder value.

Toppan Holdings Advances Share Buyback Program

Toppan Holdings Inc. announced the acquisition of 480,600 of its own shares, costing 1,877,470,600 yen, through market purchases on the Tokyo Stock Exchange during September 2025. This acquisition is part of a broader plan approved in May 2025 to buy back up to 11 million shares, aiming to enhance shareholder value and optimize capital structure.

Toppan Holdings Announces Strategic Merger to Enhance Synergies

Toppan Holdings Inc. has announced a reorganization within its group, involving an absorption-type merger of its subsidiaries, Toppan Inc., Toppan Edge Inc., and Toppan Digital Inc., effective April 1, 2026. This strategic move aims to enhance synergies, optimize resource allocation, and strengthen the company’s competitive edge, particularly in the Information & Communication segment, while improving capital efficiency and corporate value.