TOHOKU ELECTRIC POWER COMPANY, INCORPORATED Financials Tohoku Electric Power Company, Incorporated
Equities
9506
JP3605400005
Electric Utilities
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,174 JPY | +0.04% |
|
-3.34% | +22.38% |
| Apr. 19 | Japan utilities flag supply concerns as Mideast tensions rise | RE |
| Mar. 22 | Japan chooses JRE, Ibedrola, Tohoku Electric for offshore wind farm | RE |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 704,933 | 519,826 | 522,047 | 355,855 | 329,510 | 586,863 | - | - |
| Enterprise Value (EV) 1 | 2,558,310 | 2,717,145 | 2,754,260 | 2,845,736 | 3,202,725 | 3,603,368 | 3,668,483 | 3,711,107 |
| P/E ratio | 15.2 x | 8.24 x | 17.8 x | -3.28 x | -2.58 x | 3.21 x | 5.94 x | 6 x |
| Yield | 2.83% | 3.84% | 3.83% | 4.92% | - | 1.36% | 1.87% | 2.3% |
| Capitalization / Revenue | 0.31 x | 0.23 x | 0.23 x | 0.17 x | 0.11 x | 0.21 x | 0.22 x | 0.22 x |
| EV / Revenue | 1.14 x | 1.21 x | 1.2 x | 1.35 x | 1.07 x | 1.31 x | 1.38 x | 1.39 x |
| EV / EBITDA | 8.55 x | 7.91 x | 8.7 x | 18.3 x | 239 x | 7.44 x | 9.81 x | 9.56 x |
| EV / FCF | -83 x | 101 x | -34.2 x | -13.9 x | -8.67 x | 33.1 x | 485 x | 157 x |
| FCF Yield | -1.2% | 0.99% | -2.92% | -7.22% | -11.5% | 3.02% | 0.21% | 0.64% |
| Price to Book | 0.92 x | 0.66 x | 0.63 x | 0.51 x | 0.6 x | 0.82 x | 0.74 x | 0.67 x |
| Nbr of stocks (in thousands) | 499,244 | 499,353 | 499,567 | 499,797 | 500,015 | 500,097 | - | - |
| Reference price 2 | 1,412 | 1,041 | 1,045 | 712.0 | 659.0 | 1,174 | 1,174 | 1,174 |
| Announcement Date | 4/25/19 | 4/30/20 | 4/28/21 | 4/28/22 | 4/28/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,244,314 | 2,246,369 | 2,286,803 | 2,104,448 | 3,007,204 | 2,759,640 | 2,656,600 | 2,669,860 |
| EBITDA 1 | 299,261 | 343,369 | 316,703 | 155,131 | 13,398 | 484,100 | 373,900 | 388,000 |
| EBIT 1 | 83,633 | 116,350 | 87,919 | -28,737 | -180,054 | 284,380 | 167,400 | 166,460 |
| Operating Margin | 3.73% | 5.18% | 3.84% | -1.37% | -5.99% | 10.3% | 6.3% | 6.23% |
| Earnings before Tax (EBT) 1 | 72,598 | 93,768 | 54,495 | -68,248 | -199,198 | 247,750 | 138,750 | 136,950 |
| Net income 1 | 46,483 | 63,074 | 29,380 | -108,362 | -127,562 | 182,780 | 98,760 | 97,760 |
| Net margin | 2.07% | 2.81% | 1.28% | -5.15% | -4.24% | 6.62% | 3.72% | 3.66% |
| EPS 2 | 93.12 | 126.3 | 58.81 | -216.8 | -255.1 | 365.5 | 197.5 | 195.5 |
| Free Cash Flow 1 | -30,810 | 26,784 | -80,537 | -205,453 | -369,573 | 109,000 | 7,567 | 23,567 |
| FCF margin | -1.37% | 1.19% | -3.52% | -9.76% | -12.29% | 3.95% | 0.28% | 0.88% |
| FCF Conversion (EBITDA) | - | 7.8% | - | - | - | 22.52% | 2.02% | 6.07% |
| FCF Conversion (Net income) | - | 42.46% | - | - | - | 59.63% | 7.66% | 24.11% |
| Dividend per Share 2 | 40.00 | 40.00 | 40.00 | 35.00 | - | 16.00 | 22.00 | 27.00 |
| Announcement Date | 4/25/19 | 4/30/20 | 4/28/21 | 4/28/22 | 4/28/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2021 S1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,119,980 | 1,038,078 | 472,631 | 873,131 | 525,824 | 705,493 | 558,290 | 781,425 | 1,339,715 | 792,725 | 874,764 | 633,576 | 754,259 | 1,387,835 | 668,480 | 800,200 | 570,050 | 643,850 | 687,750 | 841,900 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 73,430 | 89,395 | 26,250 | 49,050 | -25,720 | -52,067 | -26,451 | -99,819 | -126,270 | -87,223 | 33,439 | 116,802 | 110,739 | 227,541 | 64,877 | 1,000 | 41,650 | 70,400 | 17,400 | 30,100 |
| Operating Margin | 6.56% | 8.61% | 5.55% | 5.62% | -4.89% | -7.38% | -4.74% | -12.77% | -9.43% | -11% | 3.82% | 18.44% | 14.68% | 16.4% | 9.71% | 0.12% | 7.31% | 10.93% | 2.53% | 3.58% |
| Earnings before Tax (EBT) 1 | 64,550 | 80,560 | 28,914 | 47,460 | -35,688 | -80,020 | -28,929 | -103,052 | -131,981 | -91,085 | 23,868 | 113,071 | 106,095 | 219,166 | 59,727 | -22,700 | 42,100 | 85,100 | 5,700 | 5,200 |
| Net income 1 | 44,657 | 56,104 | 24,403 | 34,203 | -31,786 | -110,779 | -31,242 | -105,117 | -136,359 | -94,034 | 102,831 | 79,168 | 76,226 | 155,394 | 40,910 | -7,250 | 25,100 | 44,900 | 9,000 | 13,850 |
| Net margin | 3.99% | 5.4% | 5.16% | 3.92% | -6.04% | -15.7% | -5.6% | -13.45% | -10.18% | -11.86% | 11.76% | 12.5% | 10.11% | 11.2% | 6.12% | -0.91% | 4.4% | 6.97% | 1.31% | 1.65% |
| EPS 2 | 89.44 | 112.3 | 48.74 | 68.45 | -63.61 | -221.7 | -62.50 | -210.2 | -272.8 | -188.1 | 205.7 | 158.3 | 152.4 | 310.8 | 81.80 | -31.70 | 58.90 | 119.2 | 8.000 | 3.900 |
| Dividend per Share | 20.00 | 20.00 | - | 20.00 | - | - | - | - | - | - | - | - | - | 5.000 | - | - | - | - | - | - |
| Announcement Date | 10/31/19 | 10/28/20 | 10/28/21 | 10/28/21 | 1/31/22 | 4/28/22 | 7/29/22 | 10/28/22 | 10/28/22 | 1/31/23 | 4/28/23 | 7/31/23 | 10/31/23 | 10/31/23 | 1/31/24 | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,853,377 | 2,197,319 | 2,232,213 | 2,489,881 | 2,873,215 | 3,016,505 | 3,081,620 | 3,124,243 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 6.193 x | 6.399 x | 7.048 x | 16.05 x | 214.5 x | 6.231 x | 8.242 x | 8.052 x |
| Free Cash Flow 1 | -30,810 | 26,784 | -80,537 | -205,453 | -369,573 | 109,000 | 7,567 | 23,567 |
| ROE (net income / shareholders' equity) | 6.2% | 8.1% | 3.6% | -14.2% | -20.4% | 29.1% | 13.2% | 11.6% |
| ROA (Net income/ Total Assets) | 1.55% | 2.33% | 1.54% | -1.07% | -4.01% | 3.57% | 1.95% | 1.95% |
| Assets 1 | 2,998,130 | 2,707,341 | 1,913,246 | 10,126,817 | 3,180,637 | 5,124,668 | 5,064,615 | 5,013,333 |
| Book Value Per Share 2 | 1,527 | 1,584 | 1,654 | 1,400 | 1,098 | 1,438 | 1,578 | 1,743 |
| Cash Flow per Share | 525.0 | 581.0 | 517.0 | 151.0 | 137.0 | - | - | - |
| Capex 1 | 293,614 | 317,323 | 298,154 | 302,641 | 315,653 | 400,000 | 322,633 | 312,633 |
| Capex / Sales | 13.08% | 14.13% | 13.04% | 14.38% | 10.5% | 14.49% | 12.14% | 11.71% |
| Announcement Date | 4/25/19 | 4/30/20 | 4/28/21 | 4/28/22 | 4/28/23 | - | - | - |
1JPY in Million2JPY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
HOLD
Number of Analysts
5
Last Close Price
1,174
JPY
Average target price
1,278
JPY
Spread / Average Target
+8.90%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +22.38% | 3.73B | |
| +8.64% | 136B | |
| -2.19% | 77.98B | |
| +0.69% | 75.38B | |
| -8.92% | 66.47B | |
| +61.15% | 59.36B | |
| +4.97% | 44.9B | |
| +7.34% | 42.26B | |
| 0.00% | 41.94B | |
| +3.96% | 37.31B |
- Stock Market
- Equities
- 9506 Stock
- Financials Tohoku Electric Power Company, Incorporated
