Tokyotokeiba Co., Ltd. (JP:9672)
:9672
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Tokyotokeiba Co., Ltd.
(9672)
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Rating:78Outperform
Price Target:
¥6,715.00
▲(18.22% Upside)
Action:ReiteratedDate:03/04/26
The score is driven primarily by strong financial performance (growing revenue/profits and improving leverage), with supportive technical uptrend signals. The main constraints are uneven free cash flow, recent margin compression, and somewhat stretched momentum indicators, while valuation appears fair with a modest dividend yield.
Positive Factors
Revenue and profit growth
Multi-year revenue expansion and rising net income demonstrate sustained demand for the company’s core racecourse operations and scalable economics of venue-based events. Durable top-line growth supports reinvestment, steadier medium-term cash flows, and resilience versus short-term attendance fluctuations.
Negative Factors
Volatile free cash flow
Lumpy free cash flow, including a negative year, undermines predictability of internally funded investments, dividends, or debt paydown. For a capital-intensive venue operator, inconsistent cash conversion complicates multi-quarter planning and can constrain strategic initiatives when cash is needed.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profit growth
Multi-year revenue expansion and rising net income demonstrate sustained demand for the company’s core racecourse operations and scalable economics of venue-based events. Durable top-line growth supports reinvestment, steadier medium-term cash flows, and resilience versus short-term attendance fluctuations.
Read all positive factors
Tokyotokeiba Co., Ltd. (9672) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥162.76B
Dividend Yield1.78%
Average Volume (3M)52.12K
Price to Earnings (P/E)14.5
Beta (1Y)0.62
Revenue Growth4.04%
EPS Growth4.80%
CountryJP
Employees189
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)97.97
Shares Outstanding28,084,854
10 Day Avg. Volume61,360
30 Day Avg. Volume52,123
Financial Highlights & Ratios
PEG Ratio1.61
Price to Book (P/B)1.60
Price to Sales (P/S)3.63
P/FCF Ratio11.10
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)427.47
Revenue Forecast (FY)¥43.15B
Tokyotokeiba Co., Ltd. Business Overview & Revenue Model
Company Description
Tokyotokeiba Co.,Ltd. engages in the rental of horse racing facilities in Japan. It is involved in the rental of auto racetracks; management of an amusement park; and rental of warehouse facilities, as well as commercial facilities. The company al...
How the Company Makes Money
Tokyotokeiba generates revenue primarily through the operation of horse racing events, which includes betting activities where a significant portion of the total bets placed is retained as revenue. The company also earns money from ticket sales fo...
Tokyotokeiba Co., Ltd. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
83
Very Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 41.08B | 41.76B | 40.44B | 37.54B | 35.45B | 31.80B |
| Gross Profit | 10.16B | 11.19B | 9.72B | 9.83B | 11.03B | 10.22B |
| EBITDA | 21.18B | 21.67B | 20.48B | 17.75B | 18.30B | 17.40B |
| Net Income | 10.04B | 10.46B | 9.71B | 8.45B | 9.39B | 9.08B |
Balance Sheet | ||||||
| Total Assets | 123.58B | 125.79B | 122.41B | 116.08B | 124.89B | 110.43B |
| Cash, Cash Equivalents and Short-Term Investments | 22.10B | 21.87B | 17.44B | 17.16B | 32.56B | 26.85B |
| Total Debt | 18.37B | 17.47B | 19.17B | 18.79B | 25.04B | 26.02B |
| Total Liabilities | 29.51B | 30.88B | 31.26B | 29.30B | 44.36B | 37.58B |
| Stockholders Equity | 93.91B | 94.76B | 91.03B | 86.72B | 80.29B | 72.85B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 13.65B | 8.24B | -1.15B | 9.31B | 4.13B |
| Operating Cash Flow | 0.00 | 19.90B | 16.10B | 12.80B | 14.68B | 14.37B |
| Investing Cash Flow | 0.00 | -12.82B | -8.63B | -8.69B | -14.84B | -10.82B |
| Financing Cash Flow | 0.00 | -8.70B | -5.36B | -8.32B | -2.76B | 2.20B |
Tokyotokeiba Co., Ltd. Technical Analysis
Positive
5680.00
Price Trends
5634.80
Positive
5589.63
Positive
5334.55
Positive
Market Momentum
19.55
Negative
57.01
Neutral
90.13
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9672, the sentiment is Positive. The current price of 5680 is below the 20-day moving average (MA) of 5749.00, above the 50-day MA of 5634.80, and above the 200-day MA of 5334.55, indicating a bullish trend. The MACD of 19.55 indicates Negative momentum. The RSI at 57.01 is Neutral, neither overbought nor oversold. The STOCH value of 90.13 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9672.
Tokyotokeiba Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ¥336.62B | 7.68 | 21.12% | 4.08% | 16.05% | 27.25% | |
78 Outperform | ¥162.76B | 14.48 | ― | 1.78% | 4.04% | 4.80% | |
69 Neutral | ¥187.94B | 15.25 | ― | 0.49% | -1.00% | 5.32% | |
67 Neutral | ¥246.02B | 29.55 | ― | 1.51% | 11.92% | 33.70% | |
63 Neutral | ¥405.08B | 21.16 | 10.65% | 1.64% | 14.75% | 22.10% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
42 Neutral | ¥53.85B | -0.27 | -78.01% | ― | -14.08% | 54.85% |
* Consumer Cyclical Sector Average
JP:9672
Tokyotokeiba Co., Ltd.
5,840.00
1,420.35
32.14%
JP:4680
ROUND ONE
850.80
-195.41
-18.68%
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Resorttrust
1,887.00
397.06
26.65%
JP:6417
Sankyo Co
2,009.50
-148.24
-6.87%
JP:6425
Universal Entertainment
695.00
-423.00
-37.84%
JP:9708
Imperial Hotel Ltd
1,583.00
668.80
73.16%
Tokyotokeiba Co., Ltd. Corporate Events
Tokyotokeiba taps former Tokyo vice governor as new CEO in April 2026 leadership shift
Feb 13, 2026
Tokyotokeiba Co., Ltd. announced a planned change in its top leadership, with the Board of Directors tentatively approving the appointment of Takashi Takeichi as the new President and CEO, replacing current President and CEO Mitsuchika Tarao. The ...
Tokyotokeiba Raises Year-End Dividend on Strong Public Competition Earnings
Feb 13, 2026
Tokyotokeiba Co., Ltd. has resolved to increase its year-end dividend for the fiscal year ended December 31, 2025 to 73 yen per share, up 4 yen from its most recent forecast, with the proposal to be submitted at the March 26, 2026 shareholdersR...
Tokyotokeiba Posts Higher Profits and Lifts Dividend Outlook for 2026
Feb 13, 2026
Tokyotokeiba Co., Ltd. reported solid earnings for the fiscal year ended December 31, 2025, with net sales rising 3.3% to ¥41.76 billion and profit attributable to owners of parent up 7.8% to ¥10.46 billion. Profitability indicators impr...
Tokyotokeiba Cancels 680,000 Treasury Shares to Streamline Capital Structure
Jan 30, 2026
Tokyotokeiba Co., Ltd. has completed the cancellation of 680,000 shares of its own common stock, effective January 30, 2026, pursuant to Article 178 of the Companies Act, following a resolution by its board of directors in December 2025. As a resu...
Tokyotokeiba Raises Payout Ratio and Dividend Target Under New Five-Year Policy
Dec 26, 2025
Tokyotokeiba has revised its dividend policy for the five-year period covered by its Medium-Term Management Plan 2030, running from the fiscal year ending December 31, 2026 through 2030, to enhance shareholder returns in line with its focus on max...
Tokyotokeiba Launches 2030 Plan to Build World-Class Urban Entertainment Racecourse
Dec 26, 2025
Tokyotokeiba has unveiled a five-year medium-term management plan, dubbed “Future-Oriented Space Creation Project: the 1st Furlong – Medium-Term Management Plan 2030,” to lay the groundwork for its 2035 long-term vision of becomi...
Tokyotokeiba Completes ¥3.85 Billion Share Buyback via ToSTNeT-3
Dec 22, 2025
Tokyotokeiba Co., Ltd. has completed a share buyback program authorized by its board on December 19, 2025, repurchasing 653,400 common shares for approximately 3.85 billion yen through the Tokyo Stock Exchange’s off-auction ToSTNeT-3 system ...
Tokyotokeiba Launches ¥4.1 Billion Share Buyback and Cancellation to Boost Capital Efficiency
Dec 19, 2025
Tokyotokeiba Co., Ltd. has approved a share buyback and subsequent cancellation of treasury shares as part of its capital policy aimed at improving capital efficiency and enhancing shareholder value. The company plans to repurchase up to 680,000 c...
Tokyotokeiba Acquires Large Chiba Site for New Racehorse Training Center
Dec 19, 2025
Tokyotokeiba Co., Ltd. has approved the acquisition of approximately 810,000 square meters of land in Ichihara City, Chiba Prefecture, to build a new training center and relocate stables as part of its broader redevelopment of the Oi Racecourse. T...
TOKYOTOKEIBA Launches Five-Year Plan to Build Urban Entertainment Racecourse and Boost Profitability by 2030
Dec 19, 2025
TOKYOTOKEIBA has unveiled a five-year medium-term management plan, “Future-Oriented Space Creation Project: the 1st Furlong – Medium-Term Management Plan 2030,” covering fiscal years 2026–2030 as the first phase toward its ...
Tokyotokeiba Outside Director Koji Sato Passes Away; Board Remains in Compliance
Dec 18, 2025
Tokyotokeiba Co., Ltd. announced that outside director and independent officer Koji Sato passed away on December 14, 2025, resulting in his retirement from the board as of that date, and the company expressed gratitude for his contributions. The c...
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.