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Toho Gas Valuation Multiples
Discover revenue and EBITDA valuation multiples for Toho Gas and similar public comparables like Auren Energia, American States Water, Viva Energy Australia, Chesapeake Utilities and more.
Toho Gas Overview
About Toho Gas
Toho Gas Co Ltd is a Japan-based company engaged in the supply of energy and related services, including electricity, gas, and liquefied petroleum gas (LPG). The company operates in three business segments. The Electricity segment engages in the sale of electricity. The Gas segment handles the manufacture and sale of gas, gas appliances, consignment supply, and plumbing work. The LPG and Other Energies segment covers the sale of LPG, related equipment, natural gas, heat supply, and coke. The Others segment includes contract processing, real estate management, and other ancillary businesses. It generates the majority of its revenue from the Gas segment.
Founded
1922
HQ

Employees
6.1K
Website
Sectors
Financials (LTM)
EV
$4B
Toho Gas Financials
Toho Gas reported last 12-month revenue of $4B and EBITDA of $426M.
In the same LTM period, Toho Gas generated $426M in EBITDA and $180M in net income.
Revenue (LTM)
Toho Gas P&L
In the most recent fiscal year, Toho Gas reported revenue of $5B and EBITDA of $485M.
Toho Gas expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $4B | XXX | $5B | XXX | XXX | XXX |
| Gross Profit | — | XXX | $1B | XXX | XXX | XXX |
| Gross Margin | — | XXX | 24% | XXX | XXX | XXX |
| EBITDA | $426M | XXX | $485M | XXX | XXX | XXX |
| EBITDA Margin | 11% | XXX | 11% | XXX | XXX | XXX |
| EBIT Margin | 5% | XXX | 5% | XXX | XXX | XXX |
| Net Profit | $180M | XXX | $178M | XXX | XXX | XXX |
| Net Margin | 5% | XXX | 4% | XXX | XXX | XXX |
| Net Debt | — | — | $546M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Toho Gas Stock Performance
Toho Gas has current market cap of $3B, and enterprise value of $4B.
Market Cap Evolution
Toho Gas' stock price is $8.25.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $4B | $3B | 0.3% | XXX | XXX | XXX | $0.49 |
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Start Free TrialToho Gas Valuation Multiples
Toho Gas trades at 0.9x EV/Revenue multiple, and 8.7x EV/EBITDA.
EV / Revenue (LTM)
Toho Gas Financial Valuation Multiples
As of April 19, 2026, Toho Gas has market cap of $3B and EV of $4B.
Equity research analysts estimate Toho Gas' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Toho Gas has a P/E ratio of 16.7x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $3B | XXX | $3B | XXX | XXX | XXX |
| EV (current) | $4B | XXX | $4B | XXX | XXX | XXX |
| EV/Revenue | 0.9x | XXX | 0.8x | XXX | XXX | XXX |
| EV/EBITDA | 8.7x | XXX | 7.6x | XXX | XXX | XXX |
| EV/EBIT | 20.1x | XXX | 17.0x | XXX | XXX | XXX |
| EV/Gross Profit | — | XXX | 3.4x | XXX | XXX | XXX |
| P/E | 16.7x | XXX | 16.8x | XXX | XXX | XXX |
| EV/FCF | (106.9x) | XXX | 7.0x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Toho Gas Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.


Toho Gas Margins & Growth Rates
Toho Gas' revenue in the last 12 month grew by 0%.
Toho Gas' revenue per employee in the last FY averaged $0.8M, while opex per employee averaged $0.1M for the same period.
Toho Gas' rule of 40 is 9% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Toho Gas' rule of X is 8% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Toho Gas Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 0% | XXX | (13%) | XXX | XXX | XXX |
| EBITDA Margin | 11% | XXX | 11% | XXX | XXX | XXX |
| EBITDA Growth | (11%) | XXX | (12%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 9% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 8% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.8M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 19% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Toho Gas Public Comps
See public comps and valuation multiples for other Utilities and Energy Services comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Toho Gas | XXX | XXX | XXX | XXX | XXX | XXX |
| Auren Energia | XXX | XXX | XXX | XXX | XXX | XXX |
| American States Water | XXX | XXX | XXX | XXX | XXX | XXX |
| Viva Energy Australia | XXX | XXX | XXX | XXX | XXX | XXX |
| Chesapeake Utilities | XXX | XXX | XXX | XXX | XXX | XXX |
| Nanjing Tanker | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Toho Gas M&A Activity
Toho Gas acquired XXX companies to date.
Last acquisition by Toho Gas was on XXXXXXXX, XXXXX. Toho Gas acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Toho Gas
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialToho Gas Investment Activity
Toho Gas invested in XXX companies to date.
Toho Gas made its latest investment on XXXXXXXX, XXXXX. Toho Gas invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Toho Gas
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Toho Gas
| When was Toho Gas founded? | Toho Gas was founded in 1922. |
| Where is Toho Gas headquartered? | Toho Gas is headquartered in Japan. |
| How many employees does Toho Gas have? | As of today, Toho Gas has over 6K employees. |
| Is Toho Gas publicly listed? | Yes, Toho Gas is a public company listed on Tokyo Stock Exchange. |
| What is the stock symbol of Toho Gas? | Toho Gas trades under 9533 ticker. |
| When did Toho Gas go public? | Toho Gas went public in 1949. |
| Who are competitors of Toho Gas? | Toho Gas main competitors are Auren Energia, American States Water, Viva Energy Australia, Chesapeake Utilities. |
| What is the current market cap of Toho Gas? | Toho Gas' current market cap is $3B. |
| What is the current revenue of Toho Gas? | Toho Gas' last 12 months revenue is $4B. |
| What is the current revenue growth of Toho Gas? | Toho Gas revenue growth (NTM/LTM) is 0%. |
| What is the current EV/Revenue multiple of Toho Gas? | Current revenue multiple of Toho Gas is 0.9x. |
| Is Toho Gas profitable? | Yes, Toho Gas is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Toho Gas? | Toho Gas' last 12 months EBITDA is $426M. |
| What is Toho Gas' EBITDA margin? | Toho Gas' last 12 months EBITDA margin is 11%. |
| What is the current EV/EBITDA multiple of Toho Gas? | Current EBITDA multiple of Toho Gas is 8.7x. |
| What is the current FCF of Toho Gas? | Toho Gas' last 12 months FCF is ($35M). |
| What is Toho Gas' FCF margin? | Toho Gas' last 12 months FCF margin is (1%). |
| What is the current EV/FCF multiple of Toho Gas? | Current FCF multiple of Toho Gas is (106.9x). |
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