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Toa Corporation
(6809)
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Rating:78Outperform
Price Target:
¥1,944.00
▲(21.35% Upside)
Action:Reiterated
Date:08/30/26
The score is driven primarily by strengthening financial performance and a very conservative balance sheet, complemented by supportive (but not overheated) technical momentum. A reasonable P/E and solid dividend yield further underpin the rating, while historical cash-flow volatility and only mid-single-digit ROE keep the score from being higher.
Positive Factors
Sustained revenue growth and improving margins
Steady revenue growth alongside expanding gross and operating margins indicates stronger project execution and improving profitability. If sustained, this combination can support earnings growth and provide greater resilience against cost inflation.
Negative Factors
Historically volatile cash flow
The sharp variation in cash generation highlights exposure to construction working-capital swings, including contract timing and collections. Such volatility can constrain liquidity predictability even when accounting earnings remain positive.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained revenue growth and improving margins
Steady revenue growth alongside expanding gross and operating margins indicates stronger project execution and improving profitability. If sustained, this combination can support earnings growth and provide greater resilience against cost inflation.
Read all positive factors
Toa Corporation (6809) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥61.17B
Dividend Yield3.31%
Average Volume (3M)90.08K
Price to Earnings (P/E)14.4
Beta (1Y)0.55
Revenue Growth11.71%
EPS Growth46.87%
CountryJP
Employees3,083
SectorIndustrials
Sector Strength72
IndustryCommunication Equipment
Share Statistics
EPS (TTM)122.75
Shares Outstanding34,736,633
10 Day Avg. Volume81,910
30 Day Avg. Volume90,076
Financial Highlights & Ratios
PEG Ratio0.48
Price to Book (P/B)0.94
Price to Sales (P/S)0.99
P/FCF Ratio10.15
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)N/A
Revenue Forecast (FY)N/A
Toa Corporation Business Overview & Revenue Model
Company Description
TOA Corporation manufactures and sells broadcasting, communications, and transmission equipment in Japan. The company offers public address / voice evacuation systems, commercial audio systems, professional sound systems, intercom systems, wireles...
How the Company Makes Money
Toa Corporation makes money mainly by earning contract revenue from construction projects as a general contractor. Its core revenue stream comes from (1) civil engineering works—such as infrastructure-related projects where it is paid based on con...
Toa Corporation Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
88
Very Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 56.78B | 55.39B | 50.63B | 48.81B | 45.12B | 40.86B |
| Gross Profit | 25.61B | 24.72B | 22.48B | 20.92B | 18.16B | 17.38B |
| EBITDA | 7.45B | 6.53B | 5.65B | 5.40B | 4.22B | 3.88B |
| Net Income | 3.90B | 3.31B | 2.37B | 2.00B | 1.76B | 1.47B |
Balance Sheet | ||||||
| Total Assets | 75.23B | 76.77B | 68.63B | 64.73B | 63.91B | 60.69B |
| Cash, Cash Equivalents and Short-Term Investments | 25.93B | 27.39B | 19.16B | 16.43B | 16.94B | 17.91B |
| Total Debt | 4.08B | 1.37B | 3.50B | 3.02B | 3.84B | 2.91B |
| Total Liabilities | 14.04B | 15.20B | 16.04B | 15.49B | 15.14B | 13.75B |
| Stockholders Equity | 57.86B | 58.32B | 49.51B | 46.58B | 46.24B | 44.72B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 5.40B | 5.01B | 4.16B | -819.00M | 867.00M |
| Operating Cash Flow | 0.00 | 5.88B | 5.62B | 5.07B | 583.00M | 1.63B |
| Investing Cash Flow | 0.00 | 1.06B | -2.40B | -928.00M | -2.79B | -752.00M |
| Financing Cash Flow | 0.00 | 2.76B | -2.08B | -5.23B | -1.44B | -458.00M |
Toa Corporation Technical Analysis
Positive
1602.00
Price Trends
1652.50
Positive
1638.62
Positive
1656.03
Positive
Market Momentum
32.24
Negative
65.45
Neutral
82.15
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6809, the sentiment is Positive. The current price of 1602 is below the 20-day moving average (MA) of 1717.60, below the 50-day MA of 1652.50, and below the 200-day MA of 1656.03, indicating a bullish trend. The MACD of 32.24 indicates Negative momentum. The RSI at 65.45 is Neutral, neither overbought nor oversold. The STOCH value of 82.15 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6809.
Toa Corporation Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | ¥250.86B | 17.24 | ― | 2.79% | 6.33% | 33.61% | |
78 Outperform | ¥61.17B | 14.36 | ― | 3.31% | 11.71% | 46.87% | |
76 Outperform | ¥2.84T | 23.20 | 8.70% | 1.56% | 4.15% | 5.56% | |
74 Outperform | ¥105.48B | 18.02 | ― | 0.61% | 5.53% | 30.10% | |
72 Outperform | ¥157.24B | 14.96 | ― | 1.64% | 10.73% | 31.40% | |
68 Neutral | ¥12.32B | 13.77 | ― | 3.57% | 7.73% | -19.23% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
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Toa Corporation Corporate Events
Toa Corporation Delivers Strong Q1 Earnings and Confirms Full-Year Outlook
Aug 4, 2026
Toa Corporation reported a strong start to fiscal 2026, with consolidated net sales for the three months ended June 30 rising 12.4% year-on-year to ¥12.57 billion and operating profit surging 163.4% to ¥963 million. Ordinary profit climb...
TOA Corporation Completes Treasury Share Disposal for Executive Restricted Stock
Jul 30, 2026
TOA Corporation has completed the payment process for the disposal of 20,700 treasury shares under a restricted share-based remuneration scheme approved by its board on July 15, 2026. The shares, priced at ¥1,600 each for a total of ¥33....
TOA Corporation to Dispose Treasury Shares for Restricted Share-Based Pay
Jul 15, 2026
TOA Corporation has approved the disposal of 20,700 treasury shares under its restricted share-based remuneration plans for directors and executive officers, with a total disposal value of ¥33,120 million at ¥1,600 per share. The shares ...
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.