Tokyo Ohka Kogyo Co (TOKCF) Fair Value & Analysis

Technology · US · Market cap $8.6B

A solid business, but screening 35% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case ($43.11). The favourable scenario is already priced in.
• Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
• A fairly wide model range ($18.17 to $43.11) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year. As of Jul 19, 2026.

How to read this chart

60‑month range $6.79 – $71.73 · fair‑value band $18.17 – $43.11 · the $52.67 price screens above the $34.49 fair value. As of Jul 19, 2026.

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Analysis

Tokyo Ohka Kogyo Co (TOKCF) currently trades at $52.67, while our model-based Fair Value estimate is $34.49, implying the stock looks roughly 34.5% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Tokyo Ohka Kogyo Co generated revenue of $116B at a net margin of 6.1%. Revenue grew 92.9% year over year. It earns a return on equity of 5.5%. The stock trades on a trailing P/E of 41.7. Fundamentals as of Jul 19, 2026

Our scenario range runs from $18.17 (bear case) to $43.11 (bull case); at $52.67, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 27% below its 52-week high and 41% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at -35%, TOKCF screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Growth Earnings ($35.24) versus Asset-Based ($7.89). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Tokyo Ohka Kogyo Co., Ltd. manufactures and sells chemical products and process equipment in Japan and internationally. The company offers g/i-Line, KrF excimer laser, ArF excimer laser, and EUV photoresists; wet etching and deep dry etching resist; developer and rinse, and stripping solution; thinner; adhesion enhancing, DSA, reflective multilayer, and …

Full company description

Tokyo Ohka Kogyo Co., Ltd. manufactures and sells chemical products and process equipment in Japan and internationally. The company offers g/i-Line, KrF excimer laser, ArF excimer laser, and EUV photoresists; wet etching and deep dry etching resist; developer and rinse, and stripping solution; thinner; adhesion enhancing, DSA, reflective multilayer, and file formation materials. It provides semiconductor packaging manufacturing products, including lift-off, bump formation, redistribution layer resist, protective coating materials, and adhesives; CMOS sensors and driving support system; and transparent materials and photosensitive permanent films. In addition, the company offers Sievewill, a life science research tool that traps cells and allows solutions to pass through; photo patternable permanent materials for structure fabrication/photo patternable adhesives materials; optical materials, such as NIL and hydrophilic coating materials; and high functional materials comprising porous polyimide film, and hydrophilic coating materials. The company was incorporated in 1940 and is headquartered in Kawasaki, Japan.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tokyo Ohka Kogyo Co reported revenue of $237B in FY2025 versus $140B in FY2021, a compound +14.1%/yr. Reported net income was $33.3B in FY2025, compounding +17.1%/yr from FY2021.

TOKCF screens 35% overvalued. Compare with Delta Electronics, Inc →

Peer Group

Electronic Components · 626 stocks

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.

Valuation Multiples vs Electronic Components median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.