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Definitive Analysis

Financial Statements

Periods / Units / Analysis

Ticker

Industry

Sector

Page: Company Financials

Tokuden Co., Ltd.

Ticker: 3437.T | Industry: Industrial - Machinery | Sector: Industrials
$3,580.00 -15.00 (-0.42%)
As of: 2026-01-23

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Enterprise Value

Metric 2025 2024 2023 2022
Stock Price 2,390.50 2,371.75 2,411.50 2,135.00
Market Capitalization 3,779.29M 3,749.64M 3,812.52M 3,375.54M
(-) Cash & Equivalents 1,661.84M 1,980.75M 2,432.71M 3,252.82M
(+) Total Debt 1,271.75M 1,096.68M 712.95M 761.94M
Enterprise Value 3,389.20M 2,865.57M 2,092.76M 884.66M

Income Statement

Metric TTM TTM-1 2025-03-31 2024-03-31 2023-03-31 2022-03-31 2021-03-31 2020-03-31
Revenue 10,875M 9,614M 10,540M 9,588M 9,699M 8,617M 8,315M 10,643M
Cost of Revenue 8,001M 6,978M 7,735M 6,917M 6,909M 6,200M 6,072M 7,740M
Gross Profit 2,875M 2,636M 2,805M 2,671M 2,790M 2,417M 2,243M 2,903M
Gross Profit Margin 26.4% 27.4% 26.6% 27.9% 28.8% 28.0% 27.0% 27.3%
R&D Expenses 83M 55M 84M 67M 56M 57M 60M 68M
SG&A Expenses 2,221M 2,140M 2,169M 2,109M 1,925M 1,745M 1,706M 2,023M
Operating Expenses 2,222M 2,196M 2,169M 2,176M 1,981M 1,802M 1,766M 2,028M
Operating Income (EBIT) 653M 440M 636M 495M 809M 615M 476M 875M
Operating Income Margin 6.0% 4.6% 6.0% 5.2% 8.3% 7.1% 5.7% 8.2%
Interest Income 1M 0M 1M 0M 0M 0M 1M 0M
Interest Expense 7M 3M 6M 3M 2M 0M 0M 1M
Net Interest Income -7M -3M -6M -3M -1M 0M 0M 0M
Unusual Items 7M -9M -20M 6M 130M 73M 100M 3M
EBT Excluding Unusual Items 647M 437M 630M 492M 808M 615M 477M 875M
Pre-Tax Income 653M 428M 610M 499M 938M 688M 577M 878M
Pre-Tax Margin 6.0% 4.4% 5.8% 5.2% 9.7% 8.0% 6.9% 8.2%
Income Tax Expense 158M 92M 146M 113M 233M 196M 177M 259M
Net Income 499M 329M 467M 380M 697M 486M 400M 617M
Net Income Margin 4.6% 3.4% 4.4% 4.0% 7.2% 5.6% 4.8% 5.8%
Depreciation & Amortization 352M 257M 383M 252M 126M 106M 126M 137M
EBITDA 1,005M 697M 1,018M 748M 935M 721M 602M 1,012M
EBITDA Margin 9.2% 7.2% 9.7% 7.8% 9.6% 8.4% 7.2% 9.5%
NOPAT 495M 345M 484M 383M 608M 439M 330M 617M
NOPAT Margin 4.6% 3.6% 4.6% 4.0% 6.3% 5.1% 4.0% 5.8%
Owner's Earnings 850M 586M 513M -253M -766M 511M 366M 646M
Owner's Earnings Margin 7.8% 6.1% 4.9% -2.6% -7.9% 5.9% 4.4% 6.1%
EPS (Basic) 315.63 208.17 295.64 239.73 440.53 307.40 252.89 390.24
EPS (Diluted) 315.51 208.00 295.64 240.10 440.53 307.39 252.89 390.24
Shares (Basic) 2M 2M 2M 2M 2M 2M 2M 2M
Shares (Diluted) 2M 2M 2M 2M 2M 2M 2M 2M

Balance Sheet

Metric MRQ MRQ-1 2025-03-31 2024-03-31 2023-03-31 2022-03-31 2021-03-31 2020-03-31
Cash & Cash Equivalents 1,620.00M 1,703.68M 1,703.68M 1,990.01M 2,472.12M 3,356.37M 2,564.40M 1,745.11M
Short-Term Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 400.00M
Cash & Short-Term Investments 1,620.00M 1,703.68M 1,703.68M 1,990.01M 2,472.12M 3,356.37M 2,564.40M 2,145.11M
Net Receivables 4,418.00M 4,526.29M 4,526.29M 3,803.98M 3,825.43M 3,491.86M 3,063.59M 4,000.00M
Inventory 1,321.00M 1,338.28M 1,338.28M 1,135.18M 1,074.59M 849.03M 904.81M 1,187.29M
Other Current Assets 83.00M 41.84M 41.84M 252.65M 31.06M 54.44M 80.15M 60.32M
Total Current Assets 7,442.00M 7,610.10M 7,610.10M 7,181.81M 7,403.21M 7,751.71M 6,612.94M 7,392.72M
Property, Plant & Equipment 3,649.00M 3,652.21M 3,652.21M 3,794.64M 3,018.74M 1,431.46M 1,451.83M 1,500.59M
Goodwill 0.00M 0.00M 0.00M 0.00M 0.44M 0.29M 0.21M 0.00M
Intangible Assets 43.00M 45.67M 45.67M 24.00M 26.00M 26.00M 33.00M 41.00M
Long-Term Investments 641.00M 200.81M 200.81M 173.67M 121.61M 91.84M 78.02M 46.24M
Tax Assets 0.00M 340.51M 340.51M 337.80M 341.79M 305.81M 251.84M 325.61M
Other Non-Current Assets 2.00M 61.85M 61.85M 63.61M 36.06M 40.77M 47.90M 49.34M
Other Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Assets 4,335.00M 4,301.05M 4,301.05M 4,393.73M 3,544.64M 1,896.17M 1,862.80M 1,962.79M
Total Assets 11,777.00M 11,911.15M 11,911.15M 11,575.54M 10,947.85M 9,647.88M 8,475.74M 9,355.51M
Accounts Payable 1,336.00M 1,389.25M 1,389.25M 2,077.29M 1,855.25M 1,847.18M 1,489.63M 2,174.00M
Short-Term Debt 600.00M 600.20M 600.20M 100.20M 70.20M 130.00M 60.00M 60.00M
Tax Payables 0.00M 0.00M 0.00M 17.11M 163.72M 217.02M 16.43M 171.01M
Deferred Revenue 0.00M 0.00M 0.00M 0.00M 488.10M 476.00M 187.42M 171.01M
Other Current Liabilities 814.00M 553.03M 553.03M 385.80M -128.48M -246.18M 44.90M 632.02M
Total Current Liabilities 2,750.00M 2,542.48M 2,542.48M 2,580.40M 2,448.80M 2,424.02M 1,798.37M 3,208.03M
Long-Term Debt 659.00M 684.30M 684.30M 784.50M 594.70M 0.00M 0.00M 0.00M
Capital Lease Obligations 0.00M 0.00M 0.00M 0.00M 1.97M 6.68M 11.40M 16.12M
Deferred Tax Liabilities 0.00M 0.00M 0.00M 47.20M 32.56M 0.00M 0.00M 0.00M
Other Non-Current Liabilities 552.00M 550.00M 550.00M 629.50M 648.82M 718.48M 728.70M 743.09M
Total Non-Current Liabilities 1,211.00M 1,234.30M 1,234.30M 1,461.20M 1,278.05M 725.16M 740.10M 759.20M
Total Liabilities 3,961.00M 3,776.78M 3,776.78M 4,041.60M 3,726.85M 3,149.18M 2,538.47M 3,967.24M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 21.00M 0.00M
Common Stock 484.00M 484.81M 484.81M 484.81M 484.81M 484.81M 484.81M 484.81M
Retained Earnings 6,644.00M 6,595.42M 6,595.42M 6,276.64M 6,010.87M 5,371.28M 4,942.18M 4,601.62M
Accumulated OCI 164.00M 164.59M 164.59M 86.13M 41.00M 3.00M -21.00M -63.97M
Minority Interest 55.00M 55.83M 55.83M 57.62M 48.46M 39.20M 29.72M 27.38M
Total Shareholders’ Equity 7,292.00M 7,244.82M 7,244.82M 6,847.58M 6,536.69M 5,859.09M 5,426.99M 5,022.47M
Total Equity 7,347.00M 7,300.65M 7,300.65M 6,905.19M 6,585.15M 5,898.29M 5,456.71M 5,049.84M
Total Liabilities & Equity 11,308.00M 11,077.42M 11,077.42M 10,946.79M 10,311.99M 9,047.47M 7,995.18M 9,017.08M
Tangible Assets 11,734.00M 11,865.48M 11,865.48M 11,551.54M 10,921.41M 9,621.59M 8,442.53M 9,314.51M
Tangible Equity 7,304.00M 7,254.98M 7,254.98M 6,881.19M 6,558.70M 5,872.00M 5,423.50M 5,008.84M
Tangible Book Value 7,304.00M 7,254.98M 7,254.98M 6,881.19M 6,558.70M 5,872.00M 5,423.50M 5,008.84M
Total Investments 641.00M 200.81M 200.81M 173.67M 121.61M 91.84M 78.02M 446.24M
Net Debt -361.00M -419.18M -419.18M -1,105.31M -1,807.22M -3,226.37M -2,504.40M -1,685.11M

Capital Metrics

Metric MRQ MRQ-1 2025-03-31 2024-03-31 2023-03-31 2022-03-31 2021-03-31 2020-03-31
Working Capital 4,577.0M 4,588.1M 4,588.1M 4,278.4M 4,637.0M 5,074.7M 4,654.6M 4,184.7M
Total Capital 8,905.0M 8,883.6M 8,883.6M 8,086.5M 7,554.6M 6,343.2M 5,818.9M 5,457.8M
Capital Employed 8,912.0M 8,889.2M 8,889.2M 8,672.1M 8,181.6M 6,970.9M 6,517.4M 6,147.5M
Invested Capital 7,285.0M 7,179.9M 7,179.9M 6,096.5M 5,082.4M 2,986.8M 3,254.5M 3,712.7M

Cash Flow Statement

Metric TTM TTM-1 2025-03-31 2024-03-31 2023-03-31 2022-03-31 2021-03-31 2020-03-31
Net Income 499.00M 328.00M 467.39M 498.67M 696.00M 486.00M 399.00M 617.41M
Depreciation & Amortization 0.00M 0.00M 382.51M 252.38M 125.98M 106.08M 125.73M 137.81M
Deferred Income Tax 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Stock-Based Compensation 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital 0.00M 0.00M -1,042.91M 75.71M -426.97M 114.33M 218.69M -54.64M
Accounts Receivable 0.00M 0.00M -720.51M 17.00M -247.00M -344.00M 939.00M -13.78M
Inventory 0.00M 0.00M -203.05M -59.62M -225.51M -30.64M 282.85M -54.18M
Accounts Payable 0.00M 0.00M -607.42M 129.58M -4.68M 353.73M -651.85M -66.87M
Other Working Capital 0.00M 0.00M 488.06M -11.25M 45.83M 129.25M -352.05M 80.19M
Other Non-Cash Items -499.00M -328.00M 85.03M -518.15M -309.94M 155.73M -102.23M -19.26M
Net Cash from Operating Activities 0.00M 0.00M -107.98M 308.61M 85.07M 862.15M 641.18M 681.31M
Capital Expenditures (PPE) 0.00M 0.00M -366.01M -884.68M -1,588.88M -81.40M -159.74M -108.50M
Acquisitions (Net) 0.00M 0.00M 4.36M 0.00M 150.26M 0.35M 1.36M 0.06M
Purchases of Investments 0.00M 0.00M -5.58M -5.17M -5.75M -504.00M -702.06M -402.31M
Sales / Maturities of Investments 0.00M 0.00M 0.00M 0.00M 500.00M 700.00M 400.00M 400.00M
Other Investing Activities 0.00M 0.00M -62.57M -5.10M -0.06M 3.94M 1.12M -0.18M
Net Cash from Investing Activities 0.00M 0.00M -429.80M -894.94M -944.44M 118.88M -459.32M -110.92M
Net Debt Issuance 0.00M 0.00M 397.84M 219.80M 534.90M 65.28M -4.72M 0.00M
Long-Term Debt Issuance 0.00M 0.00M -102.17M 219.80M 664.90M -4.72M -4.72M 0.00M
Short-Term Debt Issuance 0.00M 0.00M 500.00M 0.00M -130.00M 70.00M 0.00M 0.00M
Net Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Repurchased 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Dividends Paid 0.00M 0.00M -147.82M -113.48M -56.73M -56.71M -59.38M -59.51M
Common Dividends Paid 0.00M 0.00M -147.82M -113.48M -56.73M -56.71M -59.38M -59.51M
Preferred Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities 0.00M 0.00M 0.00M -4.83M -4.91M 0.00M 0.00M -4.72M
Net Cash from Financing Activities 0.00M 0.00M 250.01M 101.49M 473.26M 8.58M -64.10M -64.23M
Effect of FX on Cash 0.00M 0.00M 1.45M 2.73M 1.85M 2.37M 1.52M -1.00M
Net Change in Cash 0.00M 0.00M -286.32M -482.12M -384.25M 991.98M 119.29M 504.88M
Cash at Beginning of Period 0.00M 0.00M 1,990.01M 2,472.12M 2,856.37M 1,864.40M 1,745.11M 1,240.23M
Cash at End of Period 0.00M 0.00M 1,703.68M 1,990.01M 2,472.12M 2,856.37M 1,864.40M 1,745.11M
Operating Cash Flow 0.00M 0.00M -107.98M 308.61M 85.07M 862.15M 641.18M 681.31M
Capital Expenditure 0.00M 0.00M -336.48M -884.68M -1,588.88M -81.40M -159.74M -108.50M
Free Cash Flow 0.00M 0.00M -444.46M -576.07M -1,503.81M 780.75M 481.44M 572.82M

Free Cash Flow

Metric TTM TTM-1 2025-03-31 2024-03-31 2023-03-31 2022-03-31 2021-03-31 2020-03-31
EBITDA 922.69M 697.81M 934.55M 747.68M 935.13M 720.91M 602.20M 949.00M
(-) Tax Adjustment 223.09M 150.88M 223.17M 170.01M 232.13M 205.75M 185.13M 279.94M
(-) Change In Working Capital 0.00M 0.00M -1,042.91M 75.71M -426.97M 114.33M 218.69M -54.64M
(-) Capital Expenditure 0.00M 0.00M -336.48M -884.68M -1,588.88M -81.40M -159.74M -108.50M
Unlevered Free Cash Flow 699.60M 546.93M 1,417.81M -382.71M -458.92M 319.42M 38.64M 615.20M
(-) Net Interest Income After Taxes -5.03M -2.45M -4.19M -2.18M -1.11M 0.03M 0.16M -0.20M
Net Debt Issuance 0.00M 0.00M 397.84M 219.80M 534.90M 65.28M -4.72M 0.00M
Levered Free Cash Flow 704.63M 549.38M 1,819.83M -160.73M 77.09M 384.68M 33.77M 615.40M