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Tokyotokeiba Co., Ltd.
(9672)
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Rating:74Outperform
Price Target:
¥5,483.00
▼(-3.47% Downside)
Action:Reiterated
Date:08/06/26
Overall score is driven primarily by strong financial performance (rising revenue/profits and improving leverage), supported by reasonable valuation (moderate P/E and solid yield). The main offset is mixed technicals, with the stock still below its longer-term moving averages despite neutral-to-mildly positive momentum readings.
Positive Factors
Sustained Revenue and Profit Growth
Revenue increased from approximately 28.8B in 2020 to 41.8B in 2025, while net income reached about 10.5B. This sustained expansion indicates durable demand and operating scale in the company’s core racing-related venues and services.
Negative Factors
2025 Margin Compression
Despite continued revenue growth, 2025 margins compressed, with gross margin notably below 2022–2024 levels. If higher costs or an unfavorable mix persist, the change could reduce earnings quality and weaken the benefit of the company’s otherwise strong scale.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue and Profit Growth
Revenue increased from approximately 28.8B in 2020 to 41.8B in 2025, while net income reached about 10.5B. This sustained expansion indicates durable demand and operating scale in the company’s core racing-related venues and services.
Read all positive factors
Tokyotokeiba Co., Ltd. (9672) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥141.57B
Dividend Yield2.66%
Average Volume (3M)69.93K
Price to Earnings (P/E)12.5
Beta (1Y)0.51
Revenue Growth2.93%
EPS Growth6.77%
CountryJP
Employees198
SectorGeneral
Sector StrengthN/A
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)401.19
Shares Outstanding28,084,854
10 Day Avg. Volume37,220
30 Day Avg. Volume69,930
Financial Highlights & Ratios
PEG Ratio1.61
Price to Book (P/B)1.60
Price to Sales (P/S)3.63
P/FCF Ratio11.10
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)418.6
Revenue Forecast (FY)¥42.86B
Tokyotokeiba Co., Ltd. Business Overview & Revenue Model
Company Description
Tokyotokeiba Co., Ltd. is primarily involved in leasing facilities for horse racing throughout Japan. The company's diverse activities also encompass the rental of automobile racetracks, the operation of an amusement park, and providing warehouse ...
How the Company Makes Money
null...
Tokyotokeiba Co., Ltd. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
83
Very Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 42.28B | 41.76B | 40.44B | 37.54B | 35.45B | 31.80B |
| Gross Profit | 11.49B | 11.19B | 9.72B | 9.83B | 11.03B | 10.22B |
| EBITDA | 21.93B | 21.67B | 20.48B | 17.75B | 18.30B | 17.40B |
| Net Income | 10.58B | 10.46B | 9.71B | 8.45B | 9.39B | 9.08B |
Balance Sheet | ||||||
| Total Assets | 126.18B | 125.79B | 122.41B | 116.08B | 124.89B | 110.43B |
| Cash, Cash Equivalents and Short-Term Investments | 22.36B | 21.87B | 17.44B | 17.16B | 32.56B | 26.85B |
| Total Debt | 16.67B | 17.47B | 19.17B | 18.79B | 25.04B | 26.02B |
| Total Liabilities | 27.84B | 30.88B | 31.26B | 29.30B | 44.36B | 37.58B |
| Stockholders Equity | 98.16B | 94.76B | 91.03B | 86.72B | 80.29B | 72.85B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 13.65B | 8.24B | -1.15B | 9.31B | 4.13B |
| Operating Cash Flow | 0.00 | 19.90B | 16.10B | 12.80B | 14.68B | 14.37B |
| Investing Cash Flow | 0.00 | -12.82B | -8.63B | -8.69B | -14.84B | -10.82B |
| Financing Cash Flow | 0.00 | -8.70B | -5.36B | -8.32B | -2.76B | 2.20B |
Tokyotokeiba Co., Ltd. Technical Analysis
Positive
5680.00
Price Trends
4939.69
Positive
5036.76
Positive
5284.22
Negative
Market Momentum
35.41
Positive
56.85
Neutral
39.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9672, the sentiment is Positive. The current price of 5680 is above the 20-day moving average (MA) of 5048.25, above the 50-day MA of 4939.69, and above the 200-day MA of 5284.22, indicating a neutral trend. The MACD of 35.41 indicates Positive momentum. The RSI at 56.85 is Neutral, neither overbought nor oversold. The STOCH value of 39.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9672.
Tokyotokeiba Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | ¥401.15B | 10.91 | 14.89% | 5.23% | -23.05% | -31.04% | |
77 Outperform | ¥386.46B | 20.27 | 20.75% | 1.46% | ― | ― | |
74 Outperform | ¥141.57B | 12.46 | ― | 1.78% | 2.93% | 6.77% | |
74 Outperform | ¥405.73B | 16.60 | 15.01% | 1.64% | 8.08% | 12.01% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ¥117.89B | 31.26 | ― | 0.49% | 8.75% | 37.71% | |
46 Neutral | ¥56.56B | -0.25 | -120.77% | ― | 9.25% | -752.93% |
* General Sector Average
JP:9672
Tokyotokeiba Co., Ltd.
5,000.00
-102.78
-2.01%
JP:4680
ROUND ONE
1,279.50
-107.43
-7.75%
JP:4681
Resorttrust
1,824.00
-21.60
-1.17%
JP:6417
Sankyo Co
2,009.00
-848.63
-29.70%
JP:6425
Universal Entertainment
708.00
-338.00
-32.31%
JP:9708
Imperial Hotel Ltd
990.00
-7.00
-0.70%
Tokyotokeiba Co., Ltd. Corporate Events
Tokyotokeiba Posts Steady First-Half Gains and Lifts 2026 Dividend Outlook
Aug 7, 2026
Tokyotokeiba Co., Ltd. reported modest growth for the six months ended June 30, 2026, with net sales up 2.7% year on year to ¥19.8 billion and profit attributable to owners of parent rising 2.4% to ¥4.94 billion, driving basic earnings p...
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.