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Toda Corporation
(1860)
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Rating:71Outperform
Price Target:
¥1,643.00
▲(29.78% Upside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by improving fundamentals (stronger margins and earnings with manageable leverage, though cash-flow volatility remains a key risk). Valuation is a notable positive with a low P/E and ~3.9% dividend yield. Offsetting these strengths, technical indicators point to weaker near-term momentum with the stock below key moving averages and a negative MACD.
Positive Factors
Improved profitability and margins
Profitability has improved materially, with stronger revenue, net income, gross margin, EBITDA margin, and ROE. This indicates better project economics and cost control, which can support earnings resilience if the company maintains disciplined bidding and execution.
Negative Factors
Volatile cash generation
Cash generation has been inconsistent, reflecting working-capital swings inherent in contracting projects. Repeated negative periods could constrain investment and debt servicing, making the latest improvement less dependable until positive conversion is sustained.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved profitability and margins
Profitability has improved materially, with stronger revenue, net income, gross margin, EBITDA margin, and ROE. This indicates better project economics and cost control, which can support earnings resilience if the company maintains disciplined bidding and execution.
Read all positive factors
Toda Corporation (1860) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥457.61B
Dividend Yield3.83%
Average Volume (3M)933.05K
Price to Earnings (P/E)10.0
Beta (1Y)0.75
Revenue Growth10.48%
EPS Growth81.54%
CountryJP
Employees7,286
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)151.37
Shares Outstanding318,005,700
10 Day Avg. Volume904,300
30 Day Avg. Volume933,053
Financial Highlights & Ratios
PEG Ratio0.25
Price to Book (P/B)1.11
Price to Sales (P/S)0.67
P/FCF Ratio12.67
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)123.51
Revenue Forecast (FY)¥736.48B
Toda Corporation Business Overview & Revenue Model
Company Description
Toda Corporation is a key player in the building construction and civil engineering sectors, operating extensively both within Japan and internationally. The company provides end-to-end services for architectural and infrastructure projects, encom...
How the Company Makes Money
Toda Corporation primarily makes money by earning contract revenue from construction projects. Its main revenue stream is typically the execution of building construction and civil engineering contracts, where income is recognized based on project...
Toda Corporation Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
72
Positive
Cash Flow
63
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 669.76B | 645.74B | 586.66B | 522.43B | 547.15B | 501.51B |
| Gross Profit | 95.53B | 92.22B | 76.80B | 65.58B | 57.32B | 62.68B |
| EBITDA | 64.36B | 64.02B | 48.37B | 37.09B | 25.57B | 33.96B |
| Net Income | 45.24B | 36.98B | 25.19B | 16.10B | 11.00B | 18.56B |
Balance Sheet | ||||||
| Total Assets | 1.10T | 998.40B | 923.57B | 872.06B | 815.56B | 761.20B |
| Cash, Cash Equivalents and Short-Term Investments | 68.22B | 86.55B | 89.17B | 114.41B | 97.54B | 130.84B |
| Total Debt | 212.23B | 229.59B | 256.28B | 226.91B | 211.75B | 179.48B |
| Total Liabilities | 610.73B | 595.23B | 570.37B | 516.53B | 492.29B | 442.15B |
| Stockholders Equity | 481.36B | 390.82B | 342.23B | 348.52B | 317.25B | 316.57B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 34.28B | -36.38B | 6.95B | -67.11B | 3.99B |
| Operating Cash Flow | 0.00 | 62.46B | 26.41B | 62.15B | -30.84B | 27.27B |
| Investing Cash Flow | 0.00 | -19.69B | -61.19B | -48.85B | -26.10B | -20.43B |
| Financing Cash Flow | 0.00 | -44.62B | 7.36B | 1.03B | 22.53B | 18.31B |
Toda Corporation Technical Analysis
Neutral
1266.00
Price Trends
1531.99
Negative
1512.65
Positive
1433.98
Positive
Market Momentum
5.51
Negative
49.28
Neutral
46.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:1860, the sentiment is Neutral. The current price of 1266 is below the 20-day moving average (MA) of 1506.80, below the 50-day MA of 1531.99, and below the 200-day MA of 1433.98, indicating a neutral trend. The MACD of 5.51 indicates Negative momentum. The RSI at 49.28 is Neutral, neither overbought nor oversold. The STOCH value of 46.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:1860.
Toda Corporation Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥345.30B | 9.74 | 15.52% | 4.31% | 3.73% | 12.75% | |
71 Outperform | ¥457.61B | 10.01 | ― | 4.51% | 10.48% | 81.54% | |
67 Neutral | ¥223.26B | 10.89 | 10.95% | 4.01% | -3.78% | 95.71% | |
67 Neutral | ¥2.07T | 10.70 | 15.99% | 3.11% | 4.54% | 45.54% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | ¥2.18T | 12.66 | 13.44% | 3.25% | 3.72% | 36.12% | |
57 Neutral | ¥412.08B | 11.36 | 18.41% | 3.89% | 7.37% | 152.37% |
* Industrials Sector Average
JP:1860
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Toda Corporation Corporate Events
Toda Corporation Posts Strong Q1 Profit Surge but Keeps Full-Year Outlook Steady
Aug 7, 2026
Toda Corporation reported strong earnings for the three months ended June 30, 2026, with net sales rising 18.3% year on year to ¥155.4 billion and operating profit surging 82.9% to ¥7.4 billion. Ordinary profit climbed 74.5% to ¥10....
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.