Tokai Carbon Co., Ltd. (TKCBF)
NEUTRALFundamental
65
Precio
$1646.50
Capitalización Bursátil
$352.50B
Parte 1 · Cuánto vale la empresa
Resumen
Tokai Carbon makes carbon-based industrial materials that other manufacturers need but consumers never see: carbon black used to strengthen rubber in tires, graphite electrodes that conduct the electricity in steel-recycling furnaces, and specialty fine-carbon products used in semiconductor and industrial equipment. It also builds and lines the furnaces some of its own customers use. The company sells worldwide to tire makers, steelmakers and electronics manufacturers rather than to end consumers.
Cómo genera ingresos
Revenue comes from selling tonnes of industrial material under multi-year supply agreements with large manufacturers, so volume and price both move with how much steel, tires and electronics its customers are producing. Carbon black is the largest business by far, tied closely to global tire output. Because production requires large, capital-intensive plants, profitability depends on keeping those plants running near capacity and on passing through swings in raw material and energy costs.
Ingresos por segmento
A reinforcing filler for rubber products, mainly tires, plus black pigments and conductive materials — the group's largest business by far.
Construction and lining of industrial furnaces, mainly for steelmaking and non-ferrous metal smelting customers.
Specialty carbon products, including silicon carbide materials and coatings, used in semiconductor and industrial equipment.
Graphite electrodes that conduct electricity in electric arc furnaces, used mainly to recycle scrap steel.
Equipment and related products for industrial furnace customers, a smaller line adjacent to the smelting and lining business.
Smaller product lines that do not belong to the five main segments.
Qué impulsa la demanda
CíclicoCarbon black volumes track global tire and automobile production, and graphite electrode volumes track how much scrap steel is recycled through electric furnaces — both of which slow sharply in industrial downturns. The company's 2025 results, in which net sales fell but operating income rose after cost cuts and structural reforms, illustrate how far profitability can swing even without a change in the top line.
Los argumentos a favor
Buyers argue that Tokai Carbon's structural reforms and cost cuts have already turned around profitability in its weaker segments, that carbon black demand is tied to a tire market that keeps replacing itself regardless of new vehicle sales, and that its diversification across six product lines cushions any single end market's downturn.
Los argumentos en contra
Sellers fear that a business this tied to global steel and tire production will keep swinging with the industrial cycle, that capital-intensive plants leave little room to cut costs further once volumes fall, and that the graphite electrode and smelting segments have already shown how quickly profitability can turn negative.
Written by the editors, published on 18 de agosto de 2026
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Balance y Liquidez
Ingresos
$324.33B
Últimos 12 meses hasta el último trimestre publicado — estimación a partir de métricas por acción
Beneficio Neto
$18.61B
Últimos 12 meses hasta el último trimestre publicado — estimación a partir de métricas por acción
Flujo de Caja Libre
$2.94B
Patrimonio Neto Total
$339.22B
Pasivo Total
$217.20B
Ratio de Liquidez
2.25
Cobertura de Intereses
-
Deuda/EBITDA
3.45
Beneficio Por Acción
Ingresos y Beneficio Neto
Flujo de Caja Libre
Desglose de Ingresos
Estado histórico
Márgenes en el tiempo
La deuda en el tiempo
Cuánto pesa la deuda
Cuadro de crecimiento
Crecimiento — Ingresos
Estimación de Valor Justo
Valor Justo
$1681.48
Precio Actual
$1646.50
Margen de Seguridad
+2.1%
Rango de Valor Justo
$1092.96 - $2270.00
Métodos de Estimación
Métricas de Valoración
Ratio P/E
18.94
ROE
6.8%
Ratio P/B
1.11
P/FCF
119.87
Margen Bruto
24.7%
ROIC
4.6%
Radar de Rentabilidad
Value Creation (Economic Moat)
ROIC
4.6%
WACC
7.3%
ROIC − WACC
-2.7 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Criterios de Análisis Fundamental
Superado (14)
- Price CAGR 15.06%
- P/B Ratio 1.11
- Debt/Equity ratio
- Operating Margin 7.9%
- Positive Free Cash Flow
- Current Ratio
- Debt/EBITDA
- Price below Graham Number
- Revenue Growth 5Y 9.9%
- Analyst Consensus 75% Buy
- Earnings Surprise avg 64.7%
- PEG Ratio 0.26
- Earnings Quality (OCF/NI) 2.74
- Net Margin Trend 6.2% vs -39.2%
Fallido (7)
- ROIC 4.6%
- Gross Margin 24.7%
- P/FCF 119.87
- CapEx intensity
- DCF valuation (Overvalued)
- ROE 6.2%
- Piotroski F-Score 2/9
No disponible (6)
- EPS data insufficient
- Dividend Payout NaN%
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- Share Dilution (missing shares data)
Piotroski F-Score
Preocupaciones financieras graves
Calidad de los Beneficios
Alta calidad: beneficios respaldados por efectivo
Dilución de Acciones
Recomprando acciones. Favorable para el accionista
Gobernanza
Equipo Directivo
| Nombre | Cargo | Edad |
|---|---|---|
| Mr. Hajime Nagasaka | President, CEO & Chairman | 75 |
| Hirai Naoki | Executive Officer, Finance and Accounting Dept Manager and Head of Finance & Accounting Dept | - |
| Mr. Toshiaki Fukuda | Advisor | - |
| Mr. Masafumi Tsuji | Managing Executive Officer, GM of Graphite Electrode Division & Director | 62 |
| Kazuhiko Matsubara | Advisor | - |
| Mr. Katsuyuki Yamaguchi | Executive Officer, GM of R&D Strategy Department & Director | 61 |
| Kazuhito Kataoka | Executive Officer & GM of Business Incubation Department | - |
| Kouji Miura | Executive Officer & GM of Chita Laboratory | - |
| Mr. Akihiko Sato | Executive Officer & Director | 60 |
| Kazuyoshi Haino | Executive Officer & Special Technical Advisor of Tokai COBEX | - |
Riesgo de Auditoría
1
Riesgo del Consejo
8
Riesgo de Compensación
1
Riesgo de Derechos del Accionista
1
Parte 2 · El precio y el momento de entrar
Esta parte no sirve para saber si la empresa vale: sirve para elegir cuándo comprarla, una vez que los fundamentales te han convencido. Dentro: análisis técnico, potencial, caídas históricas, exposición gamma.
Latest News
Recent headlines for TKCBF, sourced from Markets Gazette.