Tokai Carbon Co., Ltd. (TKCBF)
NEUTRALFundamental
65
Preço
$1646.50
Capitalização de Mercado
$352.50B
Parte 1 · Quanto vale a empresa
Visão Geral
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.
Como gera receita
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.
Receita 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.
O que impulsiona a procura
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.
Os 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.
Os argumentos 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.
Balanço & Liquidez
Receita
$324.33B
Últimos 12 meses até o último trimestre divulgado — estimativa a partir de métricas por ação
Resultado Líquido
$18.61B
Últimos 12 meses até o último trimestre divulgado — estimativa a partir de métricas por ação
Fluxo de Caixa Livre
$2.94B
Capital Próprio Total
$339.22B
Passivo Total
$217.20B
Rácio de Liquidez
2.25
Cobertura de Juros
-
Dívida/EBITDA
3.45
Resultados Por Ação
Receita & Resultado Líquido
Fluxo de Caixa Livre
Decomposição dos Resultados
Demonstração histórica
Margens ao longo do tempo
A dívida ao longo do tempo
Quanto pesa a dívida
Grelha do crescimento
Crescimento — Receitas
Estimativa de Valor Justo
Valor Justo
$1681.48
Preço Atual
$1646.50
Margem de Segurança
+2.1%
Intervalo de Valor Justo
$1092.96 - $2270.00
Métodos de Estimativa
Métricas de Avaliação
Rácio P/E
18.94
ROE
6.8%
Rácio P/B
1.11
P/FCF
119.87
Margem Bruta
24.7%
ROIC
4.6%
Radar de Rentabilidade
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.
Critérios de Análise Fundamental
Aprovado (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%
Reprovado (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
Indisponível (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
Preocupações financeiras graves
Qualidade dos Resultados
Alta qualidade: resultados respaldados por caixa
Diluição de Ações
A recomprar ações. Favorável ao acionista
Governação
Equipa Executiva
| Nome | Cargo | Idade |
|---|---|---|
| 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 | - |
Risco de Auditoria
1
Risco do Conselho
8
Risco de Remuneração
1
Risco dos Direitos dos Acionistas
1
Parte 2 · O preço e o momento de entrar
Esta parte não serve para saber se a empresa vale: serve para escolher quando comprá-la, depois que os fundamentos te convenceram. Dentro: análise técnica, potencial, quedas históricas, exposição gama.
Latest News
Recent headlines for TKCBF, sourced from Markets Gazette.