Stock 9506 TOHOKU ELECTRIC POWER COMPANY, INCORPORATED
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Financials Tohoku Electric Power Company, Incorporated

Equities

9506

JP3605400005

Electric Utilities

Market Closed - Japan Exchange
Other stock markets
 07:00:00 07/05/2024 BST 		5-day change 1st Jan Change
1,320 JPY -1.05% Intraday chart for Tohoku Electric Power Company, Incorporated +8.33% +37.66%
04-30 Tohoku Electric Power Company, Incorporated Provides Consolidated Earnings Guidance for the Year Ending March 31, 2025 CI
04-30 Tohoku Electric Power Company, Incorporated Announces Dividend for the Year Ended March 31, 2024 and Provides Dividend Guidance for the Second Quarter and for the Year Ending March 31, 2025 CI

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 704,933 519,826 522,047 355,855 329,510 660,128 - -
Enterprise Value (EV) 1 2,558,310 2,717,145 2,754,260 2,845,736 3,202,725 598,366 3,741,747 3,784,371
P/E ratio 15.2 x 8.24 x 17.8 x -3.28 x -2.58 x 2.65 x 6.27 x 6.82 x
Yield 2.83% 3.84% 3.83% 4.92% - 1.25% 1.87% 2.02%
Capitalization / Revenue 0.31 x 0.23 x 0.23 x 0.17 x 0.11 x 0.21 x 0.23 x 0.25 x
EV / Revenue 1.14 x 1.21 x 1.2 x 1.35 x 1.07 x 0.21 x 1.3 x 1.42 x
EV / EBITDA 8.55 x 7.91 x 8.7 x 18.3 x 239 x 1.16 x 10 x 9.75 x
EV / FCF -83 x 101 x -34.2 x -13.9 x -8.67 x 9.51 x 495 x 161 x
FCF Yield -1.2% 0.99% -2.92% -7.22% -11.5% 10.5% 0.2% 0.62%
Price to Book 0.92 x 0.66 x 0.63 x 0.51 x 0.6 x 0.72 x 0.86 x 0.77 x
Nbr of stocks (in thousands) 499,244 499,353 499,567 499,797 500,015 500,097 - -
Reference price 2 1,412 1,041 1,045 712.0 659.0 1,334 1,334 1,334
Announcement Date 25/04/19 30/04/20 28/04/21 28/04/22 28/04/23 30/04/24 - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,244,314 2,246,369 2,286,803 2,104,448 3,007,204 2,817,813 2,887,850 2,669,860
EBITDA 1 299,261 343,369 316,703 155,131 13,398 513,807 373,900 388,000
EBIT 1 83,633 116,350 87,919 -28,737 -180,054 322,263 172,750 166,460
Operating Margin 3.73% 5.18% 3.84% -1.37% -5.99% 11.44% 5.98% 6.23%
Earnings before Tax (EBT) 1 72,598 93,768 54,495 -68,248 -199,198 291,940 149,550 136,950
Net income 1 46,483 63,074 29,380 -108,362 -127,562 226,102 106,300 97,760
Net margin 2.07% 2.81% 1.28% -5.15% -4.24% 8.02% 3.68% 3.66%
EPS 2 93.12 126.3 58.81 -216.8 -255.1 452.1 212.6 195.5
Free Cash Flow 1 -30,810 26,784 -80,537 -205,453 -369,573 62,905 7,567 23,567
FCF margin -1.37% 1.19% -3.52% -9.76% -12.29% 2.23% 0.26% 0.88%
FCF Conversion (EBITDA) - 7.8% - - - 12.24% 2.02% 6.07%
FCF Conversion (Net income) - 42.46% - - - 27.82% 7.12% 24.11%
Dividend per Share 2 40.00 40.00 40.00 35.00 - 15.00 25.00 27.00
Announcement Date 25/04/19 30/04/20 28/04/21 28/04/22 28/04/23 30/04/24 - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S1 2021 S1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Net sales 1 1,119,980 1,038,078 472,631 873,131 525,824 705,493 558,290 781,425 1,339,715 792,725 874,764 633,576 754,259 1,387,835 668,480 761,498 657,500 710,800 740,000 807,400
EBITDA - - - - - - - - - - - - - - - - - - - -
EBIT 1 73,430 89,395 26,250 49,050 -25,720 -52,067 -26,451 -99,819 -126,270 -87,223 33,439 116,802 110,739 227,541 64,877 29,845 41,650 70,400 17,400 30,100
Operating Margin 6.56% 8.61% 5.55% 5.62% -4.89% -7.38% -4.74% -12.77% -9.43% -11% 3.82% 18.44% 14.68% 16.4% 9.71% 3.92% 6.33% 9.9% 2.35% 3.73%
Earnings before Tax (EBT) 1 64,550 80,560 28,914 47,460 -35,688 -80,020 -28,929 -103,052 -131,981 -91,085 23,868 113,071 106,095 219,166 59,727 13,047 42,100 85,100 5,700 5,200
Net income 1 44,657 56,104 24,403 34,203 -31,786 -110,779 -31,242 -105,117 -136,359 -94,034 102,831 79,168 76,226 155,394 40,910 29,798 29,500 59,600 4,000 2,000
Net margin 3.99% 5.4% 5.16% 3.92% -6.04% -15.7% -5.6% -13.45% -10.18% -11.86% 11.76% 12.5% 10.11% 11.2% 6.12% 3.91% 4.49% 8.38% 0.54% 0.25%
EPS 2 89.44 112.3 48.74 68.45 -63.61 -221.7 -62.50 -210.2 -272.8 -188.1 205.7 158.3 152.4 310.8 81.80 59.58 58.90 119.2 8.000 3.900
Dividend per Share 20.00 20.00 - 20.00 - - - - - - - - - 5.000 - - - - - -
Announcement Date 31/10/19 28/10/20 28/10/21 28/10/21 31/01/22 28/04/22 29/07/22 28/10/22 28/10/22 31/01/23 28/04/23 31/07/23 31/10/23 31/10/23 31/01/24 30/04/24 - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,853,377 2,197,319 2,232,213 2,489,881 2,873,215 3,016,505 3,081,620 3,124,243
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 6.193 x 6.399 x 7.048 x 16.05 x 214.5 x 6.231 x 8.242 x 8.052 x
Free Cash Flow 1 -30,810 26,784 -80,537 -205,453 -369,573 62,905 7,567 23,567
ROE (net income / shareholders' equity) 6.2% 8.1% 3.6% -14.2% -20.4% 32.8% 12.8% 11.6%
ROA (Net income/ Total Assets) 1.55% 2.33% 1.54% -1.07% -4.01% 5.51% 2.5% 1.95%
Assets 1 2,998,130 2,707,341 1,913,246 10,126,817 3,180,637 4,104,997 4,252,000 5,013,333
Book Value Per Share 2 1,527 1,584 1,654 1,400 1,098 1,655 1,559 1,743
Cash Flow per Share 525.0 581.0 517.0 151.0 137.0 840.0 - -
Capex 1 293,614 317,323 298,154 302,641 315,653 387,255 322,633 312,633
Capex / Sales 13.08% 14.13% 13.04% 14.38% 10.5% 13.74% 11.17% 11.71%
Announcement Date 25/04/19 30/04/20 28/04/21 28/04/22 28/04/23 30/04/24 - -
1JPY in Million2JPY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Tohoku Electric Power Company, Incorporated

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
5
Last Close Price
1,334 JPY
Average target price
1,278 JPY
Spread / Average Target
-4.20%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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