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Tokio Marine Holdings (JP:8766)
:8766
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Tokio Marine Holdings
(OTC:8766)
Select Model
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Rating:79Outperform
Price Target:
¥7,459.00
▲(18.85% Upside)
Tokio Marine Holdings scores well due to strong financial performance and attractive valuation. The technical analysis supports a positive outlook, with the stock trading above key moving averages. The absence of earnings call data and corporate events does not impact the score.
Tokio Marine Holdings (8766) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥11.98T
Dividend Yield2.76%
Average Volume (3M)3.52M
Price to Earnings (P/E)9.0
Beta (1Y)1.38
Revenue Growth12.02%
EPS Growth75.88%
CountryJP
Employees43,870
SectorFinancial
Sector Strength70
IndustryInsurance - Property & Casualty
Share Statistics
EPS (TTM)243.46
Shares Outstanding1,934,000,000
10 Day Avg. Volume3,580,220
30 Day Avg. Volume3,517,400
Financial Highlights & Ratios
PEG Ratio0.20
Price to Book (P/B)2.20
Price to Sales (P/S)1.47
P/FCF Ratio8.46
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥7,230.03Price Target Upside15.20% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Tokio Marine Holdings Business Overview & Revenue Model
Company DescriptionTokio Marine Holdings, Inc. engages in non-life and life insurance, and financial and general businesses worldwide. It operates through four segments: Domestic Non-Life Insurance, Domestic Life Insurance, International Insurance, and Financial and Other. The company offers fire and allied lines, hull and cargo, health, personal accident, automobile, and other insurance products, as well as asset management services. It also provides investment advisory, investment trust, staffing, facility management, and nursing care services. The company was formerly known as Millea Holdings, Inc. and changed its name to Tokio Marine Holdings, Inc. in 2008. Tokio Marine Holdings, Inc. was incorporated in 2002 and is headquartered in Tokyo, Japan.
How the Company Makes MoneyTokio Marine Holdings generates revenue primarily through underwriting insurance premiums from its various insurance products, which include property and casualty insurance and life insurance. The company earns income by collecting premiums from policyholders and investing these funds in a diversified portfolio of assets, including stocks, bonds, and real estate, to generate investment income. Key revenue streams include premiums from commercial and personal insurance policies, as well as annuities and other life insurance products. Additionally, Tokio Marine engages in reinsurance activities and has formed strategic partnerships to expand its market reach and enhance its product offerings, further contributing to its earnings.
Tokio Marine Holdings Earnings Call Summary
Earnings Call Date:Aug 07, 2025
(Q4-2024)
| % Change Since: |
Next Earnings Date:Nov 14, 2025
Earnings Call Sentiment Positive
The earnings call showcased strong financial performance and growth in FY 2024, with positive forecasts for FY 2025. However, challenges such as social inflation in North America, a decrease in life insurance premiums, and concerns with CRE loans and repair costs due to inflation were highlighted.Q4-2024 Updates
Positive Updates
Strong Financial Performance in FY 2024
Adjusted net income for FY 2024 was JPY680.9 billion, exceeding the February forecast by JPY27.9 billion, with a year-over-year growth of 14%.
Increased Dividend Payout
DPS for fiscal year 2024 was JPY172, an increase of JPY10 over the forecast at mid-year, resulting in a 40% growth. DPS for fiscal 2025 is projected to increase by JPY38 to JPY210, a growth of 22%.
Successful Sale of Business-Related Equities
Sales of business-related equities amounted to JPY922 billion in FY 2024, exceeding the February forecast by JPY10 billion and 1.5x higher than the initial forecast.
Steady Growth Forecast for FY 2025
Forecast for fiscal 2025 is JPY700 billion excluding gains on sales, with expected 3% growth, driven by strong performance of international business and rate increase in Japan P&C.
Planned Share Buybacks
For fiscal 2025, the company plans to repurchase JPY220 billion of its own shares, with JPY110 billion already approved.
Negative Updates
Challenges with Social Inflation in North America
There was a large provisioning for liability insurance in North America due to social inflation, highlighting ongoing challenges in this area.
Life Insurance Premium Decrease
Life insurance premiums decreased by 44% due to block reinsurance implementation by Anshin Life.
CRE Loan Concerns
Capital loss on CRE loans was revised from minus $265 million to minus $440 million, highlighting challenges in this sector.
Impact of Inflation on Repair Costs
Unit repair costs increased by 7% in FY 2024, exceeding the initial assumption, with expectations of continued growth in FY 2025.
Company Guidance
During the FY 2024 results and FY 2025 presentation call, several key metrics were highlighted. For FY 2024, Tokio Marine reported an adjusted net income of JPY 680.9 billion, which was JPY 27.9 billion higher than the forecast in February, primarily due to the yen's appreciation against foreign currencies. The normalized adjusted net income was JPY 679.0 billion, marking a 14% year-over-year growth. The company's sales of business-related equities reached JPY 922 billion, exceeding forecasts by JPY 10 billion, contributing to an adjusted net income, including these gains, of JPY 1.215 trillion. For FY 2025, the company projects an adjusted net income of JPY 700 billion, excluding gains from equity sales, indicating a 3% growth from the previous year's normalized income. The forecasted sales of business-related equities remain at JPY 600 billion, with an expected adjusted net income of JPY 1.100 trillion after completing these sales. Shareholder returns are planned to increase, with a dividend per share (DPS) growth of 40% in FY 2024, resulting in a DPS of JPY 172, and a further increase to JPY 210 in FY 2025, representing a 22% growth. The company also announced a share buyback plan of JPY 220 billion for FY 2025, with JPY 110 billion approved for immediate repurchase.Tokio Marine Holdings Financial Statement Overview
Summary
Tokio Marine Holdings demonstrates strong profitability and cash flow generation with improved margins and a solid balance sheet. However, the recent decline in revenue growth and volatility in free cash flow growth are concerns.Income Statement
Tokio Marine Holdings has demonstrated strong profitability with a consistent gross profit margin of 100% over the years. The net profit margin improved significantly from 5.81% in 2022 to 13.91% in 2025, indicating enhanced efficiency and cost management. However, the revenue growth rate has been volatile, with a notable decline of 5.10% in 2025, which could be a concern for future growth prospects. EBIT and EBITDA margins have also shown improvement, reflecting better operational performance.75
Positive
Balance Sheet
The company's balance sheet is robust with a low debt-to-equity ratio of 0.12 in 2025, indicating prudent financial leverage. The equity ratio has remained stable, showcasing a strong equity base relative to total assets. However, the return on equity (ROE) data is missing for recent years, which limits a comprehensive assessment of shareholder returns.70
Positive
Cash Flow
Tokio Marine Holdings has shown strong cash flow management with a high free cash flow to net income ratio close to 1, indicating efficient conversion of net income into free cash flow. The operating cash flow to net income ratio is healthy, suggesting strong cash generation from operations. The free cash flow growth rate is positive, although it showed extreme volatility with an 'Infinity' value in 2025, which requires further investigation.80
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.26T | 7.58T | 7.08T | 6.21T | 5.75T | 492.17B |
| Gross Profit | 8.26T | 7.58T | 7.08T | 6.62T | 5.75T | 480.71B |
| EBITDA | 1.78T | 1.71T | 1.06T | 726.82B | 724.58B | 385.87B |
| Net Income | 1.32T | 1.06T | 695.81B | 374.61B | 420.48B | 161.80B |
Balance Sheet | ||||||
| Total Assets | 30.56T | 31.24T | 30.59T | 27.40T | 27.25T | 25.77T |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 1.07T | 896.90B | 871.99B | 848.82B | 812.01B |
| Total Debt | 225.76B | 625.73B | 996.22B | 222.81B | 1.67T | 230.60B |
| Total Liabilities | 25.64T | 26.13T | 25.41T | 23.80T | 23.17T | 22.04T |
| Stockholders Equity | 4.94T | 5.08T | 5.18T | 3.58T | 4.02T | 3.67T |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 1.32T | 1.05T | 982.83B | 1.07T | 1.15T |
| Operating Cash Flow | 0.00 | 1.35T | 1.07T | 1.01T | 1.10T | 1.18T |
| Investing Cash Flow | 0.00 | 177.45B | -616.43B | 29.16B | -658.65B | -725.69B |
| Financing Cash Flow | 0.00 | -1.20T | -417.42B | -1.02T | -511.42B | -518.29B |
Tokio Marine Holdings Technical Analysis
Neutral
6276.00
Price Trends
6296.58
Negative
6108.52
Positive
5733.51
Positive
Market Momentum
-21.50
Positive
45.89
Neutral
29.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8766, the sentiment is Neutral. The current price of 6276 is below the 20-day moving average (MA) of 6394.25, below the 50-day MA of 6296.58, and above the 200-day MA of 5733.51, indicating a neutral trend. The MACD of -21.50 indicates Positive momentum. The RSI at 45.89 is Neutral, neither overbought nor oversold. The STOCH value of 29.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:8766.
Tokio Marine Holdings Peers Comparison
Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ¥11.98T | 9.04 | 26.83% | 2.76% | 12.02% | 75.88% | |
71 Outperform | 1.83T | 14.23 | 9.72% | 2.23% | -2.35% | 17.94% | |
70 Outperform | 1.48T | 11.36 | 3.81% | 2.53% | -6.70% | 58.89% | |
70 Outperform | 4.33T | 18.71 | 5.78% | 2.89% | 11.37% | 27.90% | |
67 Neutral | 5.36T | 7.32 | ― | 2.97% | 8.40% | 58.45% | |
65 Neutral | 686.43B | 13.37 | 5.00% | 2.79% | 7.25% | 134.48% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
Performance Comparison
JP:8766
Tokio Marine Holdings
6,276.00
966.31
18.20%
HACBF
Hachijuni Bank
9.78
4.34
79.78%
MSADF
MS&AD Insurance Group Holdings
22.18
1.19
5.67%
NHOLF
Sompo Holdings
30.87
9.34
43.38%
TDHOF
T&D Holdings
24.12
6.78
39.10%
JP:7181
JAPAN POST INSURANCE Co., Ltd.
4,175.00
1,571.01
60.33%
Tokio Marine Holdings Corporate Events
Tokio Marine Holdings Advances Share Repurchase Program
Sep 5, 2025
Tokio Marine Holdings announced the progress of its share repurchase program, where it acquired 4,632,500 common shares for approximately 29.97 billion yen from August 1 to August 31, 2025. This move is part of a broader initiative approved by the board to repurchase up to 70 million shares, aiming to enhance shareholder value and optimize capital structure.
The most recent analyst rating on (JP:8766) stock is a Buy with a Yen7000.00 price target. To see the full list of analyst forecasts on Tokio Marine Holdings stock, see the JP:8766 Stock Forecast page.
Tokio Marine Holdings Reports Strong Q2 2025 Performance
Aug 7, 2025
Tokio Marine Holdings reported a significant increase in its financial performance for the three months ended June 30, 2025, with a 17.9% rise in ordinary income and a 136.6% increase in net income attributable to owners. The company’s strong results reflect its robust market positioning and operational efficiency, although the forecast for the fiscal year 2025 indicates a potential decline in ordinary profit and net income.
The most recent analyst rating on (JP:8766) stock is a Buy with a Yen7500.00 price target. To see the full list of analyst forecasts on Tokio Marine Holdings stock, see the JP:8766 Stock Forecast page.
Tokio Marine Advances Share Repurchase Program
Aug 6, 2025
Tokio Marine Holdings announced the progress of its share repurchase program, having bought back 1,150,500 common shares for approximately 6.89 billion yen between July 1 and July 31, 2025. This move is part of a broader strategy approved by the board to repurchase up to 70 million shares, representing about 3.6% of total issued shares, with a total budget of up to 110 billion yen, aiming to enhance shareholder value and optimize capital structure.
The most recent analyst rating on (JP:8766) stock is a Buy with a Yen7500.00 price target. To see the full list of analyst forecasts on Tokio Marine Holdings stock, see the JP:8766 Stock Forecast page.
Tokio Marine Holdings Advances Share Repurchase Strategy
Jul 7, 2025
Tokio Marine Holdings announced the progress of its share repurchase program, with 5,295,600 common shares bought back at an aggregate price of 31,968,033,500 yen from June 1 to June 30, 2025. This move is part of a broader strategy approved by the board to repurchase up to 70 million shares, aiming to optimize capital structure and potentially increase shareholder value.
The most recent analyst rating on (JP:8766) stock is a Buy with a Yen7500.00 price target. To see the full list of analyst forecasts on Tokio Marine Holdings stock, see the JP:8766 Stock Forecast page.
Tokio Marine Holdings Considers Share Trading Unit Reduction
Jun 23, 2025
Tokio Marine Holdings is considering reducing the trading unit of its shares to improve share price formation and liquidity, thus attracting a broader range of investors. The company is carefully evaluating this move by monitoring share prices and market conditions to ensure optimal timing and impact.
The most recent analyst rating on (JP:8766) stock is a Buy with a Yen7500.00 price target. To see the full list of analyst forecasts on Tokio Marine Holdings stock, see the JP:8766 Stock Forecast page.
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.