TOKUYAMA CORP.
stock DE:TBT (FRANKFURT)

Alternative ID: JP3625000009

Watch List

Exchange: FRANKFURT
Sector: Basic Materials
Industry: Specialty Chemicals
Market Cap: Small (946.62M)
Next Earnings: 3/30/2023
Data in EUR

EPS: 2.67
Current PE: 10.48
BVPS: 22.45
Price/BVPS: 1.29
Dividend: 70.00 / 522.4%

Hist Grade: F (12.80)
YOY Grade: F (13.03)
Debt/FCF: -15.99
ROIC: 8.8%
PEG: 0.47
PEGY: 0.02

Value Price: 7.12
MOS Price: 3.56
MOS %: -75.4%
Graham Number: 36.72
Graham MOS %: 26.7%
IRT: 6.50

Market Price

28.99

0.51 1.8%

as of Mar 21 '23

52 Week Range:

11.60 32.75

Stock Analyzer Tutorials

General Info

type: video (mp4); length: 3:30

Demonstrates how to use Stock Analyzer, shows how to analyze a stock and explains in detail "General Info" section of the Stock Analyzer result page.

Financial Statements

type: video (mp4); length: 5:10

Explains information presented in the Financial Statements section of the S2O Stock Analyzer: financial statements charts, absolute values and growth rates.

Growth Grade and Financial Ratios

type: video (mp4); length: 5:09

Demonstrates how to use Growth Grade & Financial Ratios section; shows the difference between historical and year-over-year Growth Grade on the real life example.

Demonstrates how to use Value Price (intrinsic value) and the Graham Number, MOS (margin of safety) and IRT - Investment Recovery Time; explains 3 different projection models used to compute value price - pessimistic, moderate and optimistic.

Price Charts

type: video (mp4); length: 8:34

Demonstrates basic rules of how to read a candlestick chart, long and short term moving averages, stochastic, MACD and relative strength (RS) charts. Explains how bull or bear market condition is computed.

General Info

Exchange: FRANKFURT
Sector: Basic Materials
Industry: Specialty Chemicals
Market Cap: Small (946.62M)
Inst. Ownership: 43.60%
Insider Ownership: 8.46%
Full Time Employees: 5665
Next Earnings: 3/30/2023

Tokuyama Corporation produces and sells various chemical products in Japan. The company operates through six segments: Chemicals, Cement, Electronics Materials, Life Science, Eco Business, and Others. The Chemicals segment offers caustic soda, soda ash, calcium chloride, sodium silicate, vinyl chloride monomer, polyvinyl chloride resin, propylene oxide, chlorinated solvents, and hydrogen. The Cement segment provides cement, ready-mixed concrete, and cement-type stabilizer, as well as engages in the resource recycling business. The Electronic Materials segment provides polycrystalline silicon; fumed silica and tetrachlorosilane; aluminum nitride; high-purity chemicals for electronics manufacturing and photoresist developer; and isopropyl alcohol. The Life Science segment provides medical diagnosis systems, dental materials and equipment, pharmaceutical ingredients and intermediates, plastic lens-related materials for glasses, and microporous film. The Eco Business segment offers plastic window sashes, ion exchange membranes, as well as engages in waste gypsum board recycling activity. The company was formerly known as Tokuyama Soda Co., Ltd. and changed its name to Tokuyama Corporation in April 1994. Tokuyama Corporation was incorporated in 1918 and is headquartered in Tokyo, Japan.

Financial Statements

The charts below show selected Annual and Quarterly Financial Data.

The purpose of these charts is to discover long and short term change dynamics. When numbers are growing year after year in the annual statements chart, the business become stronger and stronger and this is a good sign.

Quarterly Data Chart can be used to do a short term analysis. It makes sense to pay attention to the quarterly dynamics and do not wait for the next yearly statement. We should be alerted if we see that quarterly numbers are going down.

You can check "Annual Financial Statements" and "Quarterly Financial Statements" sections for exact numbers and growth rates.

Annual Statements

On a charts below the Line shows absolute values and the Bar chart shows Year-Over-Year Growth Rate for selected financial statement item. A consistent GROWTH is generally considered necessary to fund future growth from within a business.
NOTE: Growth Rate is not provided if either the latest period or the year-ago period contains a net loss. (source: WSJ Digest of Earnings)
TIP! move your mouse pointer over bar or a circle on any chart below to see details.

Financial Statements

Income Statement

Cash Flow Statement

Balance Sheet

Liquidity Ratios

Current Ratio

Current Ratio measures the ability to meet short term obligations. Generally accepted standard is 2 (current assets should be 2 times or 200% of current liabilities).

Quick Ratio

Measures immediate liquidity or the cash available to cover immediate liabilities. A safe margin would be at least 1 (100%).

Financial Leverage

Defined as total assets divided by total shareholders' equity. The higher the ratio, the more debt a company uses in its capital structure.

Profitability Ratios

ROA

Return on Assets (ROA) measures the income (profit) that is generated by the use of the assets of the business.

ROE

Return on Equity (ROE) is a measure of profitability that calculates how many dollars of profit a company generates with each dollar of shareholders equity. ROE is sometimes called "return on net worth."

ROIC

The Return on Invested Capital (ROIC) measure gives a sense of how well a company is using its money to generate returns. Some investors use this figure as a final evaluation to determine whether or not to invest in a company.

Annual Statements

Item Name	Mar '12	Mar '13	Mar '14	Mar '15	Mar '16	Mar '17	Mar '18	Mar '19	Mar '20	Mar '21	Mar '22
Equity (BVPS)	31.49	28.57	22.98	17.00	4.89	11.97	12.47	16.04	20.10	19.94
growth rate		-9.3%	-19.6%	-26.0%	-71.2%	144.8%	4.2%	28.6%	25.3%	-0.8%
Earnings BIT			20,272.00	19,532.00	23,072.00	39,721.00	41,269.00	35,264.00	34,281.00	30,923.00	24,541.00
growth rate				-3.7%	18.1%	72.2%	3.9%	-14.6%	-2.8%	-9.8%	-20.6%
Avg.PE					5.61	4.89	7.47	5.26	5.63	5.63	5.63
growth rate						-12.8%	52.8%	-29.6%	7.0%	0.0%	0.0%
ROA	1.92	-7.44	1.87	-11.56	-21.04	12.63	5.01	9.24	5.23	6.37
growth rate		-100.0%	100.0%	-100.0%	0.0%	100.0%	-60.3%	84.4%	-43.4%	21.8%
ROE	3.81	-16.24	4.57	-33.32	-93.96	58.45	15.59	24.62	12.40	13.35
growth rate		-100.0%	100.0%	-100.0%	0.0%	100.0%	-73.3%	57.9%	-49.6%	7.7%
ROIC	2.79	-9.02	2.84	-13.59	-26.27	17.25	7.38	13.31	7.44	8.83
growth rate		-100.0%	100.0%	-100.0%	0.0%	100.0%	-57.2%	80.4%	-44.1%	18.7%
Cur. Ratio	2.09	1.54	1.93	2.08	2.15	3.12	2.12	2.18	2.14	2.40
growth rate		-26.3%	25.3%	7.8%	3.4%	45.1%	-32.1%	2.8%	-1.8%	12.2%
Quick Ratio	1.51	0.98	1.39	1.58	1.68	2.47	1.58	1.60	1.62	1.86
growth rate		-35.1%	41.8%	13.7%	6.3%	47.0%	-36.0%	1.3%	1.3%	14.8%
Leverage	2.01	2.38	2.51	3.41	7.80	3.34	2.88	2.48	2.27	1.94
growth rate		18.4%	5.5%	35.9%	128.7%	-57.2%	-13.8%	-13.9%	-8.5%	-14.5%
Balance Sheet	Mar '12	Mar '13	Mar '14	Mar '15	Mar '16	Mar '17	Mar '18	Mar '19	Mar '20	Mar '21	Mar '22
Acct.Receivable		65,166.00	67,357.00	69,298.00	68,383.00	73,801.00	79,561.00	80,294.00	72,855.00	70,811.00	78,140.00
growth rate			3.4%	2.9%	-1.3%	7.9%	7.8%	0.9%	-9.3%	-2.8%	10.4%
Acct.Payable		38,152.00	40,089.00	40,567.00	35,388.00	37,035.00	47,610.00	47,268.00	42,795.00	39,547.00	49,055.00
growth rate			5.1%	1.2%	-12.8%	4.7%	28.6%	-0.7%	-9.5%	-7.6%	24.0%
Cur.Assets		186,114.00	191,623.00	243,975.00	243,766.00	246,661.00	197,652.00	202,936.00	203,849.00	199,760.00	223,950.00
growth rate			3.0%	27.3%	-0.1%	1.2%	-19.9%	2.7%	0.5%	-2.0%	12.1%
Total Assets		518,251.00	576,315.00	554,527.00	401,342.00	424,433.00	361,949.00	379,630.00	383,447.00	386,794.00	433,210.00
growth rate			11.2%	-3.8%	-27.6%	5.8%	-14.7%	4.9%	1.0%	0.9%	12.0%
Cash		44,897.00	27,605.00	61,364.00	121,508.00	121,598.00	57,229.00	68,613.00	81,524.00	83,681.00	83,116.00
growth rate			-38.5%	122.3%	98.0%	0.1%	-52.9%	19.9%	18.8%	2.7%	-0.7%
Inventory		50,662.00	41,905.00	45,088.00	40,827.00	38,834.00	39,430.00	43,474.00	44,645.00	39,599.00	55,723.00
growth rate			-17.3%	7.6%	-9.5%	-4.9%	1.5%	10.3%	2.7%	-11.3%	40.7%
Cur.Liabilities		120,795.00	99,297.00	117,298.00	113,200.00	79,153.00	93,032.00	93,248.00	95,241.00	83,308.00	102,337.00
growth rate			-17.8%	18.1%	-3.5%	-30.1%	17.5%	0.2%	2.1%	-12.5%	22.8%
Liabilities		294,381.00	339,863.00	385,082.00	341,138.00	288,458.00	225,358.00	216,107.00	203,019.00	181,534.00	200,294.00
growth rate			15.5%	13.3%	-11.4%	-15.4%	-21.9%	-4.1%	-6.1%	-10.6%	10.3%
LT Debt		151,796.00	214,278.00	236,552.00	207,277.00	194,955.00	119,521.00	109,411.00	94,255.00	82,812.00	82,951.00
growth rate			41.2%	10.4%	-12.4%	-5.9%	-38.7%	-8.5%	-13.9%	-12.1%	0.2%
Equity			229,667.00	162,577.00	51,472.00	127,015.00	125,656.00	152,780.00	168,860.00	198,560.00	224,505.00
growth rate				-29.2%	-68.3%	146.8%	-1.1%	21.6%	10.5%	17.6%	13.1%
Common Shares	70.00	70.00	70.00	70.00	70.00	87.00	70.00	10,000.00	10,000.00	10,000.00	10,000.00
growth rate		0.0%	0.0%	0.0%	0.0%	24.3%	-19.5%	14,185.7%	0.0%	0.0%	0.0%
Cash Flow Statement	Mar '12	Mar '13	Mar '14	Mar '15	Mar '16	Mar '17	Mar '18	Mar '19	Mar '20	Mar '21	Mar '22
Capital Expenditures		33,970.00	29,907.00	32,470.00	14,334.00	16,693.00	15,526.00	16,765.00	19,706.00	23,800.00	31,887.00
growth rate			-12.0%	8.6%	-55.9%	16.5%	-7.0%	8.0%	17.5%	20.8%	34.0%
Cash Dividends			2,080.00	1,043.00	1.00	1,454.00	1,454.00	3,122.00	4,164.00	4,861.00	5,034.00
growth rate				-49.9%	-99.9%	145,300.0%	0.0%	114.7%	33.4%	16.7%	3.6%
Cash From OA		17,071.00	34,105.00	30,772.00	30,098.00	20,012.00	61,885.00	38,531.00	52,364.00	43,314.00	25,986.00
growth rate			99.8%	-9.8%	-2.2%	-33.5%	209.2%	-37.7%	35.9%	-17.3%	-40.0%
FCF per Share	0.32	-3.14	-1.41	-0.13	1.45	1.24	2.71	4.70	3.28	2.52
growth rate		-100.0%	0.0%	0.0%	100.0%	-14.5%	118.6%	73.4%	-30.2%	-23.2%
Sale Purchase of Stock			19,712.00	19,712.00	19,712.00	19,712.00	78.00
growth rate				0.0%	0.0%	0.0%	-99.6%
FCF	-17,176.00	-16,899.00	4,198.00	-1,698.00	15,764.00	3,319.00	46,359.00	21,766.00	32,658.00	19,514.00	-5,901.00
growth rate		0.0%	100.0%	-100.0%	100.0%	-79.0%	1,296.8%	-53.1%	50.0%	-40.3%	-100.0%
Income Statement	Mar '12	Mar '13	Mar '14	Mar '15	Mar '16	Mar '17	Mar '18	Mar '19	Mar '20	Mar '21	Mar '22
Sales		258,632.00	287,330.00	302,085.00	307,115.00	299,106.00	308,061.00	324,661.00	316,096.00	302,407.00	293,830.00
growth rate			11.1%	5.1%	1.7%	-2.6%	3.0%	5.4%	-2.6%	-4.3%	-2.8%
Op.Income		-37,580.00	20,272.00	19,532.00	23,072.00	39,721.00	41,269.00	35,264.00	34,281.00	30,923.00	24,541.00
growth rate			100.0%	-3.7%	18.1%	72.2%	3.9%	-14.6%	-2.8%	-9.8%	-20.6%
IBT			12,938.00	-64,987.00	-86,500.00	38,526.00	32,894.00	38,017.00	27,916.00	30,958.00	27,649.00
growth rate				-100.0%	0.0%	100.0%	-14.6%	15.6%	-26.6%	10.9%	-10.7%
Net Income		-37,580.00	10,218.00	-65,349.00	-100,563.00	52,165.00	19,698.00	34,279.00	19,937.00	24,534.00	28,000.00
growth rate			100.0%	-100.0%	0.0%	100.0%	-62.2%	74.0%	-41.8%	23.1%	14.1%
EPS	134.35	-544.90	146.85	-939.25	-1,445.50	599.66	259.81	493.26	287.05	351.11
growth rate		-100.0%	100.0%	-100.0%	0.0%	100.0%	-56.7%	89.9%	-41.8%	22.3%
Gross Profit		67,138.00	80,341.00	83,168.00	86,477.00	97,801.00	100,346.00	97,997.00	98,650.00	95,153.00	95,413.00
growth rate			19.7%	3.5%	4.0%	13.1%	2.6%	-2.3%	0.7%	-3.5%	0.3%
R&D				9,235.00	7,506.00	6,473.00	6,798.00	7,077.00	8,013.00	9,549.00	11,314.00
growth rate					-18.7%	-13.8%	5.0%	4.1%	13.2%	19.2%	18.5%

Quarterly Statements

Item Name	Jun '21	Sep '21	Dec '21	Mar '22	Jun '22
Earnings BIT	7,498.00	4,167.00	5,454.00	7,422.00	5,109.00
growth rate		-44.4%	30.9%	36.1%	-31.2%
Balance Sheet	Jun '21	Sep '21	Dec '21	Mar '22	Jun '22
Acct.Receivable	66,763.00	66,919.00	78,160.00	78,140.00	77,823.00
growth rate		0.2%	16.8%	0.0%	-0.4%
Acct.Payable	43,917.00	47,325.00	51,270.00	49,055.00	64,795.00
growth rate		7.8%	8.3%	-4.3%	32.1%
Cur.Assets	201,122.00	200,666.00	202,455.00	223,950.00	242,612.00
growth rate		-0.2%	0.9%	10.6%	8.3%
Total Assets	393,804.00	396,866.00	402,253.00	433,210.00	455,661.00
growth rate		0.8%	1.4%	7.7%	5.2%
Cash	85,516.00	75,815.00	65,523.00	83,116.00	91,010.00
growth rate		-11.3%	-13.6%	26.9%	9.5%
Inventory	42,147.00	49,767.00	53,424.00	55,723.00	66,460.00
growth rate		18.1%	7.4%	4.3%	19.3%
Cur.Liabilities	94,962.00	104,304.00	106,257.00	102,337.00	109,841.00
growth rate		9.8%	1.9%	-3.7%	7.3%
Liabilities	184,630.00	183,096.00	185,817.00	200,294.00	219,936.00
growth rate		-0.8%	1.5%	7.8%	9.8%
LT Debt	73,769.00	63,154.00	63,991.00	82,951.00	94,362.00
growth rate		-14.4%	1.3%	29.6%	13.8%
Equity	200,982.00	205,688.00	208,251.00	224,505.00	227,507.00
growth rate		2.3%	1.3%	7.8%	1.3%
Common Shares	10,000.00	10,000.00	10,000.00	10,000.00	10,000.00
growth rate		0.0%	0.0%	0.0%	0.0%
Cash Flow Statement	Jun '21	Sep '21	Dec '21	Mar '22	Jun '22
Income Statement	Jun '21	Sep '21	Dec '21	Mar '22	Jun '22
Sales	67,497.00	65,163.00	78,949.00	82,221.00	84,017.00
growth rate		-3.5%	21.2%	4.1%	2.2%
Op.Income	7,498.00	4,167.00	5,454.00	7,422.00	5,109.00
growth rate		-44.4%	30.9%	36.1%	-31.2%
IBT	7,762.00	6,269.00	5,780.00	7,838.00	7,071.00
growth rate		-19.2%	-7.8%	35.6%	-9.8%
Net Income	4,941.00	4,316.00	4,119.00	14,624.00	4,482.00
growth rate		-12.7%	-4.6%	255.0%	-69.4%
Gross Profit	24,294.00	21,501.00	23,969.00	25,649.00	24,117.00
growth rate		-11.5%	11.5%	7.0%	-6.0%
R&D		11,314.00	11,314.00	11,314.00
growth rate			0.0%	0.0%

Growth Grade & Financial Ratios

All financial ratios below are calculated based on latest annual statements available and present the most up to date snapshot of a company finances.

Growth Grade

Historical Growth Grade:

F (12.80)

YOY Growth Grade:

F (13.03)

Click on buttons above for detailed yearly growth rates.

Market Ratios

Dividend Yield: 522.4%
Beta: 0.75
Beta of 0.7534 suggests that the asset is less volatile than the rest of the market.
PE: 10.48
EY: 9.5%
PEG: 0.47
PEG Ratio of 0.47 suggests that stock is underpriced.
PEGY: 0.02
PEGY Ratio of 0.02 suggests that stock is underpriced.
Price/BVPS: 1.29

Profitability Ratios

ROE: 13.4%
Return on Equity (ROE) of 13.4% suggests that management is inefficient or it could reflect a highly capitalized, conservatively operated business with little long term debt.
ROS: 8.4%
The value of Return on Sales depends on the business and/or industry. Usually the higher ratio the better.
ROA: 6.4%
Return on Assets (ROA). Low ratio usually means poor performance, or ineffective use of assets by management. High ratio usually means good performance.
ROI: 12.3%
Return on Investment (ROI) of 12.3% suggests that management is inefficient or it could reflect a highly capitalized, conservatively operated business with little long term debt.
ROIC: 8.8%
Return on Invested Capital (ROIC) of 8.8% suggests that management is inefficient or it could reflect a highly capitalized, conservatively operated business with little long term debt.

Liquidity Ratios

Current Ratio: 2.19
Current Ratio of 2.19 suggests that a company is doing well.
Quick Ratio: 1.58
Quick Ratio of 1.58 suggests that a company is doing well.
Cash Turnover: 2.42
Turnover Of Cash Ratio of 2.42 suggests that a company may have funds tied up in short-term low-yielding assets or may have a cash surplus, which is not invested in the business.
Equity Ratio: 51.8%
Equity Ratio of 51.8% suggests that a reasonably large percent of the company's assets financed by shareholder equity.
Debt/Equity: 89.2%
Debt to Equity Ratio of 89.2% suggests that greater risk assumed by creditors, hence greater interest by them in the way the company is being managed.
Debt/FCF: -15.99
Debt/FCF of -15.99 suggests that a company has a negative Free Cash Flow and probably will not be able to pay off its long term debt.

Efficiency Ratios

Avg Collection Period: 97.07
Average Collection Period of 97.07 days suggests a slow turnover, which may be the result of a number of bad accounts, or a tax collection policy or perhaps credit is being used to generate sales.
Inventory Turnover: 3.56
Inventory Turnover Ratio of 3.56 suggests a large inventory, a never-out-of-stock situation, perhaps some obsolete items, or it could indicate poor liquidity and possible overstocking of items.
Cash Flow Ratio: 2.73
Cash Flow Ratio of 2.73 suggests a company is doing OK, but lower inventory is generally viewed as a positive trend.
Profit Margin: 9.5%

Value Price

PE and EPS

	Historical	Current	Forward
PE	4.87	10.86
EPS / Growth		2.67

Value Price & Investment Recovery Time

Read more about Stock2Own value price in Stock Market: Fundamental Analysis.

Equity Growth Rate: 12.8%

Estimates	Pessimistic	Moderate	Optimistic
Rate of Return	15.0%
MOS Price %	50 %
Future EPS Growth	12.8%	12.8%	12.8%
Future PE	0.01	3.25	10.13
Future EPS	8.86	8.86	8.86
Value Price MOS %	0.02 -99.9%	7.12 -75.4%	22.18 -23.5%
MOS Price	0.01	3.56	11.09
IRT	6.66	6.66	6.66

Graham Number:

NOTE: The Graham Number applies only to certain types of stocks in combination with a number of other criteria.

Read more about Graham Number in Stock Market: Fundamental Analysis.

Graham Number: 36.72
Graham MOS: 26.7%

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