Toei Animation Co.Ltd (TOEAF) fair value: what the stock is really worth
As of Oct 22, 2026: fair value (intrinsic value) of Toei Animation Co.Ltd stock $21.11, price $19.19, upside +10.0%, quality 72 out of 100. Rating: fairly valued. 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 3, 2026.
How to read this chart
60‑month range $14.20 – $127.32 · fair‑value band $14.65 – $32.38 · the $19.19 price screens below the $21.11 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Toei Animation Co.,Ltd. engages in the production, marketing, and licensing of animation products in Japan and internationally.
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The company plans and produces various animated TV shows and films through various media, including TV, movie theaters, DVDs, Blu-ray discs, streaming platforms, and smartphones apps, etc.
It develops and sells character products, such as toys, games, stationery, food packages, campaigns, and clothes, as well as engages in the goods sales and events business. The company owns 269 movies, 238 TV programs, and 13,900 episodes of content.
Toei Animation Co.,Ltd. was founded in 1948 and is based in Tokyo, Japan.
Stock analysis
Toei Animation Co.Ltd (TOEAF) currently trades at $19.19, while our model-based Fair Value estimate is $21.11, so the stock looks roughly fairly valued today (gap 9.1%).
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Valuation
Bull case: the Multiples group reads highest at a median of $15.86 per share, and 2 of the 26 models we run sit above the $19.19 price.
Bear case: the Asset-Based group reads lowest at $3.23, and 24 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $14.65 (bear) to $32.38 (bull), the price of $19.19 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 72/100 (solid quality), in the Communication Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Toei Animation Co.Ltd reported revenue of ¥93.7B in FY2026 versus ¥57.0B in FY2022, a compound +13.2%/yr. Reported net income was ¥25.1B in FY2026, compounding +18.3%/yr from FY2022.
Key figures
Market cap $3.9B Mid · P/E ratio 23.4 · P/S ratio 6.26 · EPS (TTM) $0.8200 · Dividend yield 1.4% · Net margin 26.8% · Return on equity 16.3% · Return on assets (EBIT) 16.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 82 out of 100 (medium confidence).
What moves the price
The share trades at its 52-week high and 35% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at −13% fair-value upside, at 10%, TOEAF screens cheaper than that median.
Fair Value models
Bear$14.65Fair Value $21.11Bull$32.38
Price $19.19 · Upside +10.0%
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 ($0.3311 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.91/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−7.1%
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.
+2.3%
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.
+12.7%
Start year 2021 (pandemic). Over 10 years: +10.8% a year
Revenue growth 10 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.
+10.8%
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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.
+18.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+17.0%
Dividend (yield on the price)1.4%
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.30% → 33%
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as 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).
+15.6%
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.
+8.9%
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 +13.2% a year for the price and +6.7% for the forecasts.
AI conclusion: Strong margins from licensing established franchises support durability, while limited signals on innovation and ownership plus uncertainties from new market entries constrain the overall moat.
Main risk: The first co-production in Nigeria could introduce unfamiliar risks that offset gains from the licensing model and hit margins along with business stability.
Toei Animation continues to generate strong margins from licensing its flagship franchises across streaming and merchandise. Its first co-production deal with a Nigerian studio opens a path into one of Africa's biggest film markets. Will these steps into new territories extend the reach of its established business model or introduce unfamiliar risks that offset the gains?
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.Entertainment · 221 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score72 · Top 25%
Fair Value upside+10.0% · Above median
Profitability
Return on equity (12 months)16.3% · Top 25%
Return on assets12.4% · Top 25%
Net margin (12 months)26.9% · Top 25%
Operating margin (12 months)33.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)13.1% · Above median
Dividend yield (12 months)1.4% · Below median
Valuation Multiplesvs Entertainment median · lower = cheaper
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Is Toei Animation Co.Ltd (TOEAF) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of $21.11 versus the last price from Oct 22, 2026 of $19.19, about +10% upside (fairly valued).
What is the fair value of TOEAF?
Our model-based fair value for Toei Animation Co.Ltd is $21.11 (as of Nov 3, 2026), built from audited fundamentals. Last price (from Oct 22, 2026): $19.19.
What is the quality score of TOEAF?
Toei Animation Co.Ltd has a Quality Score of 72/100. 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 Toei Animation Co.Ltd (TOEAF)?
Our model-based price target is the fair value of $21.11 (as of Nov 3, 2026) from 26 valuation models. Cautious scenario $14.65, optimistic scenario $32.38. It is a calculation from audited fundamentals, not an analyst target.
What is the Toei Animation Co.Ltd stock forecast for 2026?
Our models put fair value at $21.11, about +10% upside versus the last price from Oct 22, 2026 of $19.19 (fairly valued). Cautious scenario $14.65, optimistic scenario $32.38. The calculation is refreshed regularly with new filings.
What is the revenue of Toei Animation Co.Ltd (TOEAF)?
Toei Animation Co.Ltd reported trailing-twelve-month revenue of about ¥96.2B (latest available figure, as of Nov 3, 2026).
Does Toei Animation Co.Ltd pay a dividend?
Toei Animation Co.Ltd currently shows a dividend yield of 1.45% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of Toei Animation Co.Ltd (TOEAF) and when is the ex-dividend date?
Toei Animation Co.Ltd pays a dividend of $0.278 per share a year, a dividend yield of 1.4%. The next ex-dividend date is Mar 31, 2027. A dividend has been paid every year since at least 2020. The payout ratio is 35.9% of earnings. Free cash flow covers the dividend 1.76 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 Toei Animation Co.Ltd (TOEAF)?
For today's price to be fair in a discounted-cash-flow model, Toei Animation Co.Ltd would have to grow free cash flow by +15.6 % per year for five years (discount rate 8.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +12.7 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of TOEAF use?
Our models discount Toei Animation Co.Ltd at 8.5 %: a base by market capitalisation (mid), damped by beta 0.17, 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 Toei Animation Co.Ltd that is +15.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.5 %) and the same formula as our fair value.
How much growth has Toei Animation Co.Ltd (TOEAF) delivered so far?
Over the past 5 years revenue at Toei Animation Co.Ltd grew +12.7 % a year. The price currently implies free-cash-flow growth of +15.6 % 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 Toei Animation Co.Ltd (TOEAF) growing?
The median revenue growth in the sector is +3.8 % a year. That is the yardstick for the growth priced into Toei Animation Co.Ltd (+15.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Toei Animation Co.Ltd (TOEAF)?
The free-cash-flow yield on the price is 2.55 %: that much free cash flow Toei Animation Co.Ltd produces per unit of market value. When it exceeds the discount rate of our models (8.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Toei Animation Co.Ltd (TOEAF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Toei Animation Co.Ltd it is $21.11 per share (as of Nov 3, 2026), against a price of $19.19. 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 Toei Animation Co.Ltd stock overvalued or undervalued in 2026?
As of Nov 3, 2026, TOEAF trades below its calculated fair value: price $19.19, fair value $21.11, a gap of about +10% (fairly valued). 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 TOEAF?
No. The price is what the market pays today ($19.19); the fair value is what the company's own numbers justify ($21.11). For Toei Animation Co.Ltd the two are $1.92 per share apart. That gap is exactly why we show both numbers side by side.
How much is Toei Animation Co.Ltd worth?
The market values Toei Animation Co.Ltd at about $3.9B (market capitalisation, as of Nov 3, 2026). Per share that is $19.19; our models calculate a fair value of $21.11 per share.
What do the bullish and bearish scenarios say about TOEAF?
Our models span a range for Toei Animation Co.Ltd: cautious scenario $14.65, base $21.11, optimistic $32.38 per share (as of Nov 3, 2026, price $19.19). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TOEAF?
Toei Animation Co.Ltd trades at a price-to-earnings ratio of 23.4 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $21.11 is built from several models across several years. Other multiples: P/B 3.6, P/S 6.4, EV/EBITDA 16.2.
How solid is the balance sheet of Toei Animation Co.Ltd (TOEAF)?
Balance-sheet figures for Toei Animation Co.Ltd (as of Nov 3, 2026): return on equity 16.3%. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is TOEAF from its 52-week high?
Toei Animation Co.Ltd trades at $19.19, at its 52-week high of $19.19 and 35% above the low of $14.20 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $21.11 is for.
Which stocks are comparable to Toei Animation Co.Ltd?
From the same area (Communication Services) we also value Netflix, Inc, The Walt Disney Company, Live Nation Entertainment, Inc, TKO Group, 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 Toei Animation Co.Ltd stock attractive at the current price?
The data as of Nov 3, 2026: price $19.19, calculated fair value $21.11 (+10%), Quality Score 72/100, 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 TOEAF calculated?
We run Toei Animation Co.Ltd 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 $21.11 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. Toei Animation Co.Ltd currently trades 9% 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 Toei Animation Co.Ltd (TOEAF)?
The latest price we hold is from Oct 22, 2026 and stands at $19.19. Our model-based fair value is $21.11, about +10% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Toei Animation Co.Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range ($14.65 to $32.38) leaves room in how you read the outcome.
Key figures of Toei Animation Co.Ltd
How large is the market capitalisation of Toei Animation Co.Ltd (TOEAF)?
The market capitalisation of Toei Animation Co.Ltd is $3.9B. 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 Toei Animation Co.Ltd (TOEAF)?
The price-to-sales ratio of Toei Animation Co.Ltd is 6.26 (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 Toei Animation Co.Ltd (TOEAF)?
Earnings per share at Toei Animation Co.Ltd are $0.8200 (price ÷ EPS = P/E 23.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Toei Animation Co.Ltd (TOEAF)?
The dividend yield of Toei Animation Co.Ltd is 1.4% (payout 33.9%). 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 Toei Animation Co.Ltd (TOEAF)?
The net margin of Toei Animation Co.Ltd is 26.8% (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 Toei Animation Co.Ltd (TOEAF)?
The return on equity (ROE) of Toei Animation Co.Ltd is 16.3% (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 Toei Animation Co.Ltd (TOEAF)?
On an EBIT basis the return on assets of Toei Animation Co.Ltd is 16.0% (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 Toei Animation Co.Ltd (TOEAF)?
The operating margin of Toei Animation Co.Ltd is 33.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Toei Animation Co.Ltd (TOEAF)?
Revenue at Toei Animation Co.Ltd is growing +13.1% versus a year earlier (3y avg +2.3%). 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 Toei Animation Co.Ltd (TOEAF)?
Earnings per share at Toei Animation Co.Ltd are growing +15.4% versus a year earlier. How much earnings per share grew versus a year earlier.
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Broad data
Nov 3, 2026