Toda Corporation primarily (TODCF) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Toda Corporation primarily stock $11.13, price $6.70, upside +66.1%, quality 59 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
26‑month range $6.08 – $6.71 · fair‑value band $6.31 – $16.76 · the $6.70 price screens below the $11.13 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Toda Corporation primarily engages in the construction and civil engineering businesses in Japan and internationally.
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The company operates through Construction, Civil Engineering, Domestic Investment and Development, Domestic Group Companies, Overseas Group Companies, and Environment and Energy segments.
It is involved in the research, planning, design, management, and execution of architectural and civil engineering works; and activities related to local and urban development, as well as provides related engineering and consulting services.
The company also purchases, sells, rents, intermediates, manages, and appraises real estate properties. In addition, it engages in renewable energy business, such as floating offshore wind power generation.
The company was formerly known as Toda-Gumi Co., Ltd. and changed its name to Toda Corporation in 1963. Toda Corporation was founded in 1881 and is headquartered in Tokyo, Japan.
Stock analysis
Toda Corporation primarily (TODCF) currently trades at $6.70, while our model-based Fair Value estimate is $11.13, implying the stock looks roughly 40% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $15.29 per share, and 19 of the 26 models we run sit above the $6.70 price.
Bear case: the Dividend Discount group reads lowest at $3.57, and 7 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $6.31 (bear) to $16.76 (bull), the price of $6.70 sits inside 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 Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Toda Corporation primarily reported revenue of ¥646B in FY2026 versus ¥502B in FY2022, a compound +6.5%/yr. Reported net income was ¥37.0B in FY2026, compounding +18.8%/yr from FY2022.
Key figures
Market cap $2.0B Small · P/E ratio 12.2 · P/S ratio 0.70 · EPS (TTM) $0.5500 · Dividend yield 4.1% · Net margin 5.7% · Return on equity 10.8% · Return on assets (EBIT) 2.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 6% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −42% fair-value upside, at 66%, TODCF screens cheaper than that median.
Fair Value models
Bear$6.31Fair Value $11.13Bull$16.76
Price $6.70 · Upside +66.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then ($0.3360 per share) are deliberately not added.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.Coverage ⓘCoverage = 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.64/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+10.1%
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.
+5.7%
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.
+5.0%
Start year 2021 (pandemic)
’21
’22
’23
’24
’25
’26
What shareholders gained per year (last 5 years), in JPY (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+18.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.2%
Dividend (yield on the price)4.1%
Profit margin 2021 to 2026 ⓘ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.6% → 6%
2026 sits 136% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what 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).
+3.7%
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.
+5.2%
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 +1.6% a year for the price and +3.0% for the forecasts.
Compare Toda Corporation primarily with another stock
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.Engineering & Construction · 791 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside+66.1% · Top 25%
Profitability
Return on equity (12 months)10.8% · Above median
Return on assets3.7% · Above median
Net margin (12 months)6.8% · Above median
Operating margin (12 months)4.8% · Below median
Growth and dividend
Revenue growth (quarter YoY)18.3% · Above median
Dividend yield (12 months)4.1% · Top 25%
Balance sheet
Debt / equity0.43× · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (12 months)12.2× · Cheaper than median
P/B0.80× · Cheaper than median
P/S (12 months)0.47× · Cheaper than median
Price / free cash flow (fiscal year)9.5× · Cheaper than median
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Is Toda Corporation primarily (TODCF) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $11.13 versus a price of $6.70, about +66% upside (undervalued).
What is the fair value of TODCF?
Our model-based fair value for Toda Corporation primarily is $11.13 (as of Nov 8, 2026), built from audited fundamentals. The current price: $6.70.
What is the quality score of TODCF?
Toda Corporation primarily 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 Toda Corporation primarily (TODCF)?
Our model-based price target is the fair value of $11.13 (as of Nov 8, 2026) from 26 valuation models. Cautious scenario $6.31, optimistic scenario $16.76. It is a calculation from audited fundamentals, not an analyst target.
What is the Toda Corporation primarily stock forecast for 2026?
Our models put fair value at $11.13, about +66% upside versus a price of $6.70 (undervalued). Cautious scenario $6.31, optimistic scenario $16.76. The calculation is refreshed regularly with new filings.
What is the revenue of Toda Corporation primarily (TODCF)?
Toda Corporation primarily reported trailing-twelve-month revenue of about ¥670B (latest available figure, as of Nov 8, 2026).
Does Toda Corporation primarily pay a dividend?
Toda Corporation primarily currently shows a dividend yield of 4.07% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Toda Corporation primarily (TODCF) and when is the ex-dividend date?
Toda Corporation primarily has a dividend yield of 4.1%. The next ex-dividend date is Mar 30, 2027. The payout ratio is 34.5% of earnings. Free cash flow covers the dividend 2.60 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Toda Corporation primarily (TODCF)?
For today's price to be fair in a discounted-cash-flow model, Toda Corporation primarily would have to grow free cash flow by +3.7 % per year for five years (discount rate 9.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.0 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of TODCF use?
Our models discount Toda Corporation primarily at 9.8 %: a base by market capitalisation (small), damped by beta 0.23, country premium for USA. 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 Toda Corporation primarily that is +3.7 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.8 %) and the same formula as our fair value.
How much growth has Toda Corporation primarily (TODCF) delivered so far?
Over the past 5 years revenue at Toda Corporation primarily grew +5.0 % a year. The price currently implies free-cash-flow growth of +3.7 % per 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 Toda Corporation primarily (TODCF) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Toda Corporation primarily (+3.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Toda Corporation primarily (TODCF)?
The free-cash-flow yield on the price is 10.60 %: that much free cash flow Toda Corporation primarily produces per unit of market value. When it exceeds the discount rate of our models (9.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Toda Corporation primarily (TODCF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Toda Corporation primarily it is $11.13 per share (as of Nov 8, 2026), against a price of $6.70. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Toda Corporation primarily stock overvalued or undervalued in 2026?
As of Nov 8, 2026, TODCF trades below its calculated fair value: price $6.70, fair value $11.13, a gap of about +66% (undervalued). 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 TODCF?
No. The price is what the market pays today ($6.70); the fair value is what the company's own numbers justify ($11.13). For Toda Corporation primarily the two are $4.43 per share apart. That gap is exactly why we show both numbers side by side.
How much is Toda Corporation primarily worth?
The market values Toda Corporation primarily at about $2.0B (market capitalisation, as of Nov 8, 2026). Per share that is $6.70; our models calculate a fair value of $11.13 per share.
What do the bullish and bearish scenarios say about TODCF?
Our models span a range for Toda Corporation primarily: cautious scenario $6.31, base $11.13, optimistic $16.76 per share (as of Nov 8, 2026, price $6.70). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TODCF?
Toda Corporation primarily trades at a price-to-earnings ratio of 12.2 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $11.13 is built from several models across several years. Other multiples: P/B 0.8, P/S 0.5, EV/EBITDA 7.8.
How solid is the balance sheet of Toda Corporation primarily (TODCF)?
Balance-sheet figures for Toda Corporation primarily (as of Nov 8, 2026): return on equity 10.8%, debt of 0.43 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is TODCF from its 52-week high?
Toda Corporation primarily trades at $6.70, at its 52-week high of $6.70 and 6% above the low of $6.33 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $11.13 is for.
Which stocks are comparable to Toda Corporation primarily?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, 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 Toda Corporation primarily stock attractive at the current price?
The data as of Nov 8, 2026: price $6.70, calculated fair value $11.13 (+66%), Quality Score 59/100, from 26 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 TODCF calculated?
We run Toda Corporation primarily through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $11.13 builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Toda Corporation primarily currently trades 40% below its own fair value, and the market average says nothing about that. 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 Toda Corporation primarily (TODCF)?
The closing price on Nov 6, 2026 was $6.70. Our model-based fair value is $11.13, about +66% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Toda Corporation primarily right now?
The model range is unusually wide ($6.31 to $16.76). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Toda Corporation primarily
How large is the market capitalisation of Toda Corporation primarily (TODCF)?
The market capitalisation of Toda Corporation primarily is $2.0B. 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 Toda Corporation primarily (TODCF)?
The price-to-sales ratio of Toda Corporation primarily is 0.70 (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 Toda Corporation primarily (TODCF)?
Earnings per share at Toda Corporation primarily are $0.5500 (price ÷ EPS = P/E 12.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Toda Corporation primarily (TODCF)?
The dividend yield of Toda Corporation primarily is 4.1% (payout 49.6%). 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 Toda Corporation primarily (TODCF)?
The net margin of Toda Corporation primarily is 5.7% (fiscal year 2026). 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 Toda Corporation primarily (TODCF)?
The return on equity (ROE) of Toda Corporation primarily is 10.8% (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 Toda Corporation primarily (TODCF)?
On an EBIT basis the return on assets of Toda Corporation primarily is 2.7% (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 Toda Corporation primarily (TODCF)?
The operating margin of Toda Corporation primarily is 4.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Toda Corporation primarily (TODCF)?
Revenue at Toda Corporation primarily is growing +18.3% versus a year earlier (3y avg +5.7%). 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 Toda Corporation primarily (TODCF)?
Earnings per share at Toda Corporation primarily are growing +238% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Toda Corporation primarily (TODCF) carry?
The net debt of Toda Corporation primarily is ¥163B (fiscal year 2026, ≈ 4.9 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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Broad data
Nov 8, 2026