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TOC Co., Ltd.
(8841)
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Rating:74Outperform
Price Target:
¥1,038.00
▲(22.70% 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
Very low leverage
Extremely low leverage provides durable financial flexibility: it lowers default and refinancing risk through real estate cycles, preserves borrowing capacity for strategic acquisitions or capex, and supports stable operations and tenant service investment over the medium term.
Negative Factors
Uneven cash conversion
Irregular free cash flow and inconsistent conversion of earnings to cash reduce predictability of capital available for dividends, capex or strategic investments. Recurrent negative FCF years weaken confidence in sustainable cash coverage of obligations and growth initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Extremely low leverage provides durable financial flexibility: it lowers default and refinancing risk through real estate cycles, preserves borrowing capacity for strategic acquisitions or capex, and supports stable operations and tenant service investment over the medium term.
Read all positive factors
TOC Co., Ltd. (8841) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥85.63B
Dividend Yield1.18%
Average Volume (3M)95.99K
Price to Earnings (P/E)34.5
Beta (1Y)0.49
Revenue Growth15.23%
EPS Growth37.37%
CountryJP
Employees148
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)26.31
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
The company makes money mainly by (1) leasing out owned real estate and collecting recurring rental income from tenants in its commercial/office properties, and (2) earning revenue from real estate operations and management-related services connec...
TOC Co., Ltd. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
92
Very Positive
Cash Flow
63
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 15.15B | 13.15B | 13.71B | 15.69B | 16.34B |
| Gross Profit | 2.89B | 3.17B | 4.06B | 5.95B | 7.41B |
| EBITDA | 4.76B | 3.00B | 3.86B | 5.91B | 7.73B |
| Net Income | 2.32B | 1.79B | 5.12B | 3.26B | 3.11B |
Balance Sheet | |||||
| Total Assets | 122.23B | 114.90B | 118.55B | 116.33B | 112.93B |
| Cash, Cash Equivalents and Short-Term Investments | 31.15B | 29.55B | 39.33B | 31.65B | 33.53B |
| Total Debt | 899.00M | 1.12B | 1.53B | 2.01B | 2.35B |
| Total Liabilities | 17.50B | 14.07B | 15.73B | 15.93B | 17.78B |
| Stockholders Equity | 104.09B | 100.23B | 102.23B | 99.84B | 94.56B |
Cash Flow | |||||
| Free Cash Flow | 3.35B | -1.01B | 1.56B | -746.00M | 2.88B |
| Operating Cash Flow | 5.73B | 442.00M | 2.81B | 921.00M | 5.14B |
| Investing Cash Flow | -2.91B | -5.32B | 7.23B | -1.51B | -2.29B |
| Financing Cash Flow | -1.10B | -4.96B | -2.36B | -1.29B | -1.52B |
TOC Co., Ltd. Technical Analysis
Positive
846.00
Price Trends
991.18
Negative
947.78
Positive
892.72
Positive
Market Momentum
-10.29
Positive
46.36
Neutral
32.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8841, the sentiment is Positive. The current price of 846 is below the 20-day moving average (MA) of 963.25, below the 50-day MA of 991.18, and below the 200-day MA of 892.72, indicating a neutral trend. The MACD of -10.29 indicates Positive momentum. The RSI at 46.36 is Neutral, neither overbought nor oversold. The STOCH value of 32.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | ¥85.63B | 34.47 | 1.46% | 1.18% | 15.23% | 37.37% | |
68 Neutral | ¥102.75B | 22.39 | ― | 2.19% | 3.42% | 7.64% | |
67 Neutral | ¥76.98B | 5.71 | ― | ― | 70.29% | 345.92% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
63 Neutral | ¥117.43B | 7.47 | ― | 2.93% | 14.99% | 73.31% | |
61 Neutral | ¥123.03B | 7.80 | 15.81% | 2.93% | 12.51% | 12.42% | |
56 Neutral | ¥80.08B | 7.17 | ― | 3.08% | 23.38% | 19.73% |
* Real Estate Sector Average
JP:8841
TOC Co., Ltd.
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31.54%
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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.