artience Co (TO5) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of artience Co €20.95, price €28.00, upside -25.2%, quality 59 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
In Frankfurt, only 0 of the last 21 trading days (30 days) had any turnover. On the other days the price is an indicative quote without trading, so we do not list this stock in the radar. It stays reachable through search.
ACBroad dataSep 30, 2026
artience Co
TO5 · F
Overvalued / MonitorQuality is not strong enough to offset the price risk.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 30, 2026.
How to read this chart
60‑month range €11.03 – €28.20 · fair‑value band €15.65 – €24.42 · the €28.00 price screens above the €20.95 fair value. Dashed = 300-day average. As of Sep 30, 2026.
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artience Co., Ltd. engages in the colorants and functional materials, polymers and coatings, printing and information, and packaging materials businesses in Japan, Europe, Asia, the Americas, and internationally.
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artience Co., Ltd. engages in the colorants and functional materials, polymers and coatings, printing and information, and packaging materials businesses in Japan, Europe, Asia, the Americas, and internationally. The company operates through Coloring materials and functional materials related; Polymer/coating related; Package related; and Printing and information related business segments.It offers pigments, pigment dispersions, pastes for color filter, color resists, OCF resists, color/functional masterbatches, functional compounds, paints for data recording materials, CCUS materials, CNT dispersions, inkjet inks, colorants, and plastic colorants. The company also provides pressure sensitive adhesives, laminating adhesives, hot-melt adhesives, adhesive tapes, functional film for electronics, marking films, can coatings, resins, hard coating materials, medical products, natural extracts, and coating agents. In addition, it offers gravure and flexographic inks, gravure printing systems, gravure, and flexographic plate making solutions. Further, the company provides offset inks, newspaper inks, metal decorative inks, UV curing inks, offset printing materials, printing equipment, screen inks, printing inks, and others. It serves electronics, package, optoelectronics, medical/healthcare, mobility, building materials/living space, energy, and printing markets. The company was formerly known as Toyo Ink SC Holdings Co., Ltd. and changed its name to artience Co., Ltd. in January 2024. artience Co., Ltd. was founded in 1896 and is headquartered in Tokyo, Japan.
Stock analysis
artience Co (TO5) currently trades at €28.00, while our model-based Fair Value estimate is €20.95, 25.2% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of €21.43 per share, and 4 of the 24 models we run sit above the €28.00 price.
Bear case: the Dividend Discount group reads lowest at €6.18, and 20 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: €15.65 (bear) to €24.42 (bull), the price of €28.00 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 59/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
artience Co reported revenue of ¥350B in FY2025 versus ¥288B in FY2021, a compound +5.0%/yr. Reported net income was ¥10.3B in FY2025, compounding +2.2%/yr from FY2021.
Key figures
Market cap €1.3B · P/E ratio 12.8 · P/S ratio 0.38 · EPS (TTM) €2.18 · Dividend yield 2.4% · Net margin 3.0% · Return on equity 6.6% · Return on assets (EBIT) 3.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 1% below its 52-week high and 74% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −39% fair-value upside, at −25%, TO5 screens cheaper than that median.
Fair Value models
Bear €15.65Fair Value €20.95Bull €24.42
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−0.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.3%
Start year 2020 (pandemic). Over 10 years: +2.1% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.9%
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What shareholders gained per year (last 5 years), in JPY ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in JPY: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+10.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.4%
Dividend (yield on the price)2.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.8.4% vs 0.0%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.5% → 6%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+10.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+4.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in JPY, Japan: IMF forecast 2.1% a year to 2030, 1.3% from 2016 to 2025) that is about +7.7% a year for the price and +2.1% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Chemicals · 699 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside−25.7% · Above median
Profitability
Return on equity (TTM)6.6% · Above median
Return on assets3.3% · Above median
Net margin (TTM)5.0% · Below median
Operating margin (TTM)7.3% · Below median
Growth and dividend
Revenue growth17.0% · Above median
Dividend yield (TTM)2.4% · Above median
Balance sheet
Debt / equity0.19× · Above median
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
P/E (TTM)12.8× · Cheapest 25%
P/B0.89× · Cheapest 25%
P/S (TTM)0.64× · Cheaper than median
P/FCF19.6× · Pricier than median
EV/EBITDA6.3× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)85· sector 56
PAST (return on equity)26· sector 25
HEALTH (low debt)91· sector 95
DIVIDEND (yield)47· sector 29
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "artience Co Fair Value". https://www.fairvalue-calculator.com/stock/TO5
Frequently asked questions
Is artience Co (TO5) overvalued or undervalued?
As of Sep 30, 2026, our model estimates a fair value of €20.95 versus a price of €28.00, about −25% upside (overvalued).
What is the fair value of TO5?
Our model-based fair value for artience Co is €20.95 (as of Sep 30, 2026), built from audited fundamentals. The current price: €28.00.
What is the quality score of TO5?
artience Co has a Quality Score of 59/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for artience Co (TO5)?
Our model-based price target is the fair value of €20.95 (as of Sep 30, 2026) from 24 valuation models. Cautious scenario €15.65, optimistic scenario €24.42. It is a calculation from audited fundamentals, not an analyst target.
What is the artience Co stock forecast for 2026?
Our models put fair value at €20.95, about −25% upside versus a price of €28.00 (overvalued). Cautious scenario €15.65, optimistic scenario €24.42. The calculation is refreshed regularly with new filings.
What is the revenue of artience Co (TO5)?
artience Co reported trailing-twelve-month revenue of about ¥371B (latest available figure, as of Sep 30, 2026).
Does artience Co pay a dividend?
artience Co currently shows a dividend yield of about 2.36% relative to its recent price (as of Sep 30, 2026).
What growth is priced into artience Co (TO5)?
For today's price to be fair in a discounted-cash-flow model, artience Co would have to grow free cash flow by +10.0 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.3 % per year. As of Sep 30, 2026.
What discount rate (WACC) does the fair value of TO5 use?
Our models discount artience Co at 9.6 %: a base by market capitalisation (small), damped by beta 0.37, country premium for Germany. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For artience Co that is +10.0 % per year a year over ten years, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has artience Co (TO5) delivered so far?
Over the past 5 years revenue at artience Co grew +6.3 % a year. The price currently implies +10.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of artience Co (TO5) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into artience Co (+10.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of artience Co (TO5)?
The free-cash-flow yield on the price is 5.16 %: that much free cash flow artience Co produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of artience Co (TO5)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For artience Co it is €20.95 per share (as of Sep 30, 2026), against a price of €28.00. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is artience Co stock overvalued or undervalued in 2026?
As of Sep 30, 2026, TO5 trades above its calculated fair value: price €28.00, fair value €20.95, a gap of about −25% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TO5?
No. The price is what the market pays today (€28.00); the fair value is what the company's own numbers justify (€20.95). For artience Co the two are €7.05 per share apart. That gap is exactly why we show both numbers side by side.
How much is artience Co worth?
The market values artience Co at about €1.3B (market capitalisation, as of Sep 30, 2026). Per share that is €28.00; our models calculate a fair value of €20.95 per share.
What do the bullish and bearish scenarios say about TO5?
Our models span a range for artience Co: cautious scenario €15.65, base €20.95, optimistic €24.42 per share (as of Sep 30, 2026, price €28.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TO5?
artience Co trades at a price-to-earnings ratio of 12.8 (as of Sep 30, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €20.95 is built from several models across several years. Other multiples: P/B 0.9, P/S 0.6, EV/EBITDA 6.3.
How solid is the balance sheet of artience Co (TO5)?
Balance-sheet figures for artience Co (as of Sep 30, 2026): return on equity 6.6%, debt of 0.19 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is TO5 from its 52-week high?
artience Co trades at €28.00, about 1% below its 52-week high of €28.20 and 74% above the low of €16.12 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of €20.95 is for.
Which stocks are comparable to artience Co?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is artience Co stock attractive at the current price?
The data as of Sep 30, 2026: price €28.00, calculated fair value €20.95 (−25%), Quality Score 59/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TO5 calculated?
We run artience Co through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €20.95, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. artience Co itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of artience Co (TO5)?
The closing price on Oct 1, 2026 was €28.00. Our model-based fair value is €20.95, about −25% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with artience Co right now?
The price sits above even our optimistic bull case (€24.42). The favourable scenario is already priced in. Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of artience Co
How large is the market capitalisation of artience Co (TO5)?
The market capitalisation of artience Co is €1.3B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of artience Co (TO5)?
The price-to-sales ratio of artience Co is 0.38 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of artience Co (TO5)?
Earnings per share at artience Co are €2.18 (price ÷ EPS = P/E 12.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of artience Co (TO5)?
The dividend yield of artience Co is 2.4% (payout 30.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of artience Co (TO5)?
The net margin of artience Co is 3.0% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of artience Co (TO5)?
The return on equity (ROE) of artience Co is 6.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of artience Co (TO5)?
On an EBIT basis the return on assets of artience Co is 3.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of artience Co (TO5)?
The operating margin of artience Co is 7.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at artience Co (TO5)?
Revenue at artience Co is growing +17.0% versus a year earlier (3y avg +3.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at artience Co (TO5)?
Earnings per share at artience Co are growing +200% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does artience Co (TO5) carry?
The net debt of artience Co is ¥15.8B (fiscal year 2025, ≈ 1.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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