TOC Co., Ltd. (JP:8841)
:8841
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TOC Co., Ltd.
(8841)
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Rating:74Outperform
Price Target:
¥1,033.00
▲(22.10% Upside)
Action:Upgraded
Date:05/14/26
The score is driven primarily by very strong financial stability (low leverage) and supportive technical uptrend signals. These positives are tempered by relatively expensive valuation (high P/E with a low dividend yield) and inconsistent cash-flow conversion.
Positive Factors
Conservative Balance Sheet
Extremely low leverage and a large equity base give the company durable financial flexibility: it can withstand tenant downturns, absorb property capex, pursue selective acquisitions or refurbishments, and face lower refinancing risk, supporting long-term stability and optionality.
Negative Factors
Uneven Cash Generation
Irregular free cash flow undermines predictability of distributable earnings and reinvestment capacity. Negative FCF years and FCF materially below net income in 2026 show sensitivity to timing of receipts, capex or working capital, complicating capital allocation and long-term planning.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Extremely low leverage and a large equity base give the company durable financial flexibility: it can withstand tenant downturns, absorb property capex, pursue selective acquisitions or refurbishments, and face lower refinancing risk, supporting long-term stability and optionality.
Read all positive factors
TOC Co., Ltd. (8841) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥89.56B
Dividend Yield1.18%
Average Volume (3M)95.99K
Price to Earnings (P/E)37.3
Beta (1Y)0.52
Revenue Growth15.23%
EPS Growth37.37%
CountryJP
Employees147
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)19.72
Shares Outstanding93,849,350
10 Day Avg. Volume66,950
30 Day Avg. Volume95,990
Financial Highlights & Ratios
PEG Ratio0.85
Price to Book (P/B)0.69
Price to Sales (P/S)4.71
P/FCF Ratio21.30
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)40.8
Revenue Forecast (FY)¥17.30B
TOC Co., Ltd. Business Overview & Revenue Model
Company Description
TOC Co., Ltd. operates primarily within Japan, focusing predominantly on its real estate ventures. The company's property portfolio includes the leasing of diverse spaces such as commercial and retail units, corporate offices, parking facilities, ...
How the Company Makes Money
TOC Co., Ltd. primarily makes money by generating recurring rental income from leasing space in its owned commercial properties (e.g., office and facility tenants). Revenue is driven by occupancy levels, contracted rent rates, and the company’s ab...
TOC Co., Ltd. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
92
Very Positive
Cash Flow
63
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 13.62B | 15.15B | 13.15B | 13.71B | 15.69B | 16.34B |
| Gross Profit | 3.26B | 2.89B | 3.17B | 4.06B | 5.95B | 7.41B |
| EBITDA | 2.83B | 4.76B | 3.00B | 3.86B | 5.91B | 7.73B |
| Net Income | 1.82B | 2.32B | 1.79B | 5.12B | 3.26B | 3.11B |
Balance Sheet | ||||||
| Total Assets | 115.01B | 122.23B | 114.90B | 118.55B | 116.33B | 112.93B |
| Cash, Cash Equivalents and Short-Term Investments | 28.43B | 31.15B | 29.55B | 39.33B | 31.65B | 33.53B |
| Total Debt | 1.04B | 899.00M | 1.12B | 1.53B | 2.01B | 2.35B |
| Total Liabilities | 13.60B | 17.50B | 14.07B | 15.73B | 15.93B | 17.78B |
| Stockholders Equity | 100.80B | 104.09B | 100.23B | 102.23B | 99.84B | 94.56B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 3.35B | -1.01B | 1.56B | -746.00M | 2.88B |
| Operating Cash Flow | 0.00 | 5.73B | 442.00M | 2.81B | 921.00M | 5.14B |
| Investing Cash Flow | 0.00 | -2.91B | -5.32B | 7.23B | -1.51B | -2.29B |
| Financing Cash Flow | 0.00 | -1.10B | -4.96B | -2.36B | -1.29B | -1.52B |
TOC Co., Ltd. Technical Analysis
Negative
846.00
Price Trends
999.76
Negative
926.97
Positive
878.61
Positive
Market Momentum
-11.74
Negative
45.06
Neutral
64.32
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8841, the sentiment is Negative. The current price of 846 is below the 20-day moving average (MA) of 977.45, below the 50-day MA of 999.76, and below the 200-day MA of 878.61, indicating a neutral trend. The MACD of -11.74 indicates Negative momentum. The RSI at 45.06 is Neutral, neither overbought nor oversold. The STOCH value of 64.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:8841.
TOC Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥89.56B | 37.26 | 1.46% | 1.18% | 15.23% | 37.37% | |
67 Neutral | ¥72.80B | 5.43 | ― | ― | 93.14% | 254.99% | |
66 Neutral | ¥99.86B | 22.13 | ― | 2.19% | 3.42% | 7.64% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
63 Neutral | ¥123.46B | 7.85 | ― | 2.93% | 14.99% | 73.33% | |
61 Neutral | ¥115.55B | 7.26 | 15.81% | 2.93% | 12.51% | 12.42% | |
56 Neutral | ¥75.76B | 6.73 | ― | 3.08% | 23.38% | 19.73% |
* Real Estate Sector Average
JP:8841
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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.