Toho Gas - Public Comps and Valuation Multiples

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

tohogas.co.jp

Sectors

Utilities
Energy Services

Financials

LTM Revenue $4.1B

LTM EBITDA $445M

EV

$3.4B

Valuation Multiples

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Toho Gas Financials

As of September 2025, Toho Gas reported last 12-month revenue of $4.1B and EBITDA of $445M.

In the same period, Toho Gas achieved $175M in LTM net income.

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Toho Gas P&L

In the most recent fiscal year, Toho Gas reported revenue of $4.3B and EBITDA of $503M.

Toho Gas expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$4.1B	XXX	$4.3B	XXX	XXX	XXX
Gross Profit	n/a	XXX	$1.1B	XXX	XXX	XXX
Gross Margin	n/a	XXX	26%	XXX	XXX	XXX
EBITDA	$445M	XXX	$503M	XXX	XXX	XXX
EBITDA Margin	11%	XXX	12%	XXX	XXX	XXX
EBIT	$191M	XXX	$203M	XXX	XXX	XXX
EBIT Margin	5%	XXX	5%	XXX	XXX	XXX
Net Profit	$175M	XXX	$167M	XXX	XXX	XXX
Net Margin	4%	XXX	4%	XXX	XXX	XXX
Net Debt	XXX	XXX	$568M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Toho Gas including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $4.1B. EBITDA for the last twelve months was $445M. In the most recent fiscal year, Toho Gas achieved $4.3B in revenue and $503M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$4.1B	Analyst estimates available to subscribers	$4.3B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	$1.1B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	26.3% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$445M	Analyst estimates available to subscribers	$503M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	10.7% EBITDA margin	Analyst estimates available to subscribers	11.7% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$191M	Analyst estimates available to subscribers	$203M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	4.6% EBIT margin	Analyst estimates available to subscribers	4.7% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$175M	Analyst estimates available to subscribers	$167M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	4.2% net profit margin	Analyst estimates available to subscribers	3.9% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$568M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Toho Gas

This financial data table provides comprehensive performance metrics for Toho Gas, a company based in Japan. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Toho Gas generated $4.1B in revenue over the last twelve months.
The company achieved $445M in EBITDA over the last twelve months.
Net income over the last twelve months reached $175M.

Fiscal Year Performance

In the most recent fiscal year, Toho Gas reported $4.3B in total revenue.
Fiscal year EBITDA was $503M.
The company maintained a gross profit margin of 26.3% in the most recent fiscal year.
EBITDA margin for the fiscal year was 11.7%.
Net profit margin reached 3.9% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Toho Gas. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Toho Gas Stock Performance

Toho Gas has current market cap of JPY 415B (or $2.7B), and EV of JPY 516B (or $3.4B).

Market Cap Evolution

Toho Gas Stock Data

As of October 17, 2025, Toho Gas's stock price is JPY 4415 (or $29).

See Toho Gas trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$3.4B	$2.7B	XXX	XXX	XXX	XXX	$1.81

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Toho Gas Valuation Multiples

Toho Gas's trades at 0.8x EV/Revenue multiple, and 6.7x EV/EBITDA.

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Toho Gas Financial Valuation Multiples

As of October 17, 2025, Toho Gas has market cap of $2.7B and EV of $3.4B.

Equity research analysts estimate Toho Gas's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Toho Gas has a P/E ratio of 15.6x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$2.7B	XXX	$2.7B	XXX	XXX	XXX
EV (current)	$3.4B	XXX	$3.4B	XXX	XXX	XXX
EV/Revenue	0.8x	XXX	0.8x	XXX	XXX	XXX
EV/EBITDA	7.6x	XXX	6.7x	XXX	XXX	XXX
EV/EBIT	17.7x	XXX	16.4x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	15.6x	XXX	16.0x	XXX	XXX	XXX
EV/FCF	n/a	XXX	7.0x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Toho Gas Margins & Growth Rates

Toho Gas's last 12 month revenue growth is -3%

Toho Gas's revenue per employee in the last FY averaged $0.7M, while opex per employee averaged $0.2M for the same period.

Toho Gas's rule of 40 is 9% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Toho Gas's rule of X is 4% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Toho Gas Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	-3%	XXX	-3%	XXX	XXX	XXX
EBITDA Margin	11%	XXX	12%	XXX	XXX	XXX
EBITDA Growth	-6%	XXX	-10%	XXX	XXX	XXX
Rule of 40	9%	XXX	9%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	4%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.7M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	22%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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