Toho Holdings Valuation Multiples
Toho Holdings is valued at $1.6B as of November 2026, a 0.1x revenue multiple. In the last 12 months, Toho Holdings revenue was $10B and Toho Holdings EBITDA was $136M.
Toho Holdings Overview
About Toho Holdings
Toho Holdings Co Ltd is a specialty and generic drug manufacturing company. The company's business includes pharmaceutical wholesaling and pharmacy dispensing. It also maintains a site-management organization business that assists a variety of medical establishments, ranging from large medical institutions to private clinics, with a wide range of clinical trials under contract. The company supports medical institutions suitable for respective trials to improve the quality and speed of clinical trials. It generates additional revenue through software sales to medical institutions.
Founded
1948
HQ
Employees
10.1K
Website
Financials (LTM)
EV
$924M
Valuation Multiples
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Toho Holdings Financials
Toho Holdings reported last 12-month revenue of $10B and EBITDA of $136M.
In the same LTM period, Toho Holdings generated $136M in EBITDA and $89M in net income.
Revenue (LTM)
Toho Holdings P&L
In the most recent fiscal year, Toho Holdings reported revenue of $9.8B and EBITDA of $203M.
Toho Holdings is profitable as of last fiscal year, with gross margin of 8%, EBITDA margin of 2%, and net margin of 1%.
Financial data powered by Morningstar, Inc.
Toho Holdings Stock Performance
Toho Holdings has current market cap of $1.6B, and enterprise value of $924M.
Market Cap Evolution
Toho Holdings' stock price is $24.34.
Toho Holdings share price decreased by 4.1% in the last 30 days, and by 19.5% in the last year.
Toho Holdings has an EPS (earnings per share) of $1.69.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $924M | $1.6B | -0.0% | -4.1% | -1.5% | -19.5% | $1.69 |
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Start Free TrialToho Holdings Valuation Multiples
Toho Holdings trades at 0.1x EV/Revenue multiple, and 6.8x EV/EBITDA.
EV / Revenue (LTM)
Toho Holdings Financial Valuation Multiples
As of November 9, 2026, Toho Holdings has market cap of $1.6B and EV of $924M.
Toho Holdings has a P/E ratio of 17.8x.
Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Toho Holdings 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 Holdings Margins & Growth Rates
Toho Holdings grew revenue by 4% but EBITDA decreased by 36% in the last fiscal year.
In the most recent fiscal year, Toho Holdings reported gross margin of 8%, EBITDA margin of 2%, and net margin of 1%.
Toho Holdings Margins
Toho Holdings Growth Rates
Data powered by FactSet, Inc. and Morningstar, Inc.
Toho Holdings Operational KPIs
Toho Holdings' revenue per employee in the last FY averaged $1.0M, while opex per employee averaged $0.1M for the same period.
Toho Holdings' Rule of 40 is 6% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Toho Holdings' Rule of X is 13% (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).
Data powered by FactSet, Inc. and Morningstar, Inc.
Toho Holdings Competitors
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
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Acquisitions by Toho Holdings
Toho Holdings has acquired 1 company to date.
Last acquisition by Toho Holdings was on June 16th 2014. Toho Holdings acquired eHealthcare for undisclosed valuation.
Latest Acquisitions by Toho Holdings
| Description | eHealthcare is a Tokyo-based provider of digital solutions for Japan's medical sector, powering websites for 15,000 doctors and dentists. The company runs Byoinnavi.jp, the largest clinic portal with two million monthly visitors, offering real-time patient reservations akin to ZocDoc. eHealthcare also supports Kanshinhiroba for 150 patient nonprofits and conducts satisfaction surveys in Tokyo districts. |
| HQ Country | |
| HQ City | Tokyo |
| Deal Date | 16 Jun 2014 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
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Investments by Toho Holdings
Toho Holdings has invested in 8 companies to date.
Latest investment by Toho Holdings was on June 21st 2026. Toho Holdings invested in Rege Nephro in their $8M Undisclosed stage round (EV/Revenue multiple available to Pro users).
Latest Investments by Toho Holdings
| Description | Rege Nephro is a biopharmaceutical company founded in 2019 and based in Japan. The company’s businesses are R&D, production and sales of therapeutic drugs for renal diseases. The mission is “Research and develop various solutions against kidney diseases, improve QOL among patients suffering from kidney diseases, and contribute to society”. The company serves business and institutional customers through products and services in the biopharmaceutical market. Its commercial model is built primarily on technology licensing and product sales, reflecting the way customers obtain and use its offering. JIC Venture Growth Investments classifies the business in its Early portfolio and records October 2024 for the company. The company maintains its operating website at www.regenephro.co.jp, while JIC VGI's portfolio materials preserve the public record of the investment relationship. | Reborna Biosciences is a Milan-headquartered biopharma company advancing small-molecule drugs targeting RNA for rare genetic diseases. Its lead candidates address spinal muscular atrophy through selective modulation of splicing factors. Conducting phase 1 trials in Italy and the US, Reborna collaborates with academic centers like Telethon Institute for patient-derived models. | Hirosaki Lifescience Innovation is a Hirosaki-headquartered biotechnology company focused on regenerative medicine. It develops iPS cell-derived corneal endothelial cells to treat bullous keratopathy and other eye disorders. The firm manufactures clinical-grade products like HLI001, which entered phase 1/2 trials in Japan. Founded in 2018 as a Hirosaki University spin-off, it partners with medical centers for therapy validation and commercialization across ophthalmology applications. | Cellusion is a biopharmaceutical company founded in 2015 and based in Japan. Seeks to establish a new treatment for bullous keratopathy by producing and developing corneal endothelial replacement cells from iPS cells; advantage is a production method that can differentiate iPS cells into target cells (CLS001) without the need for intermediate processes. In addition to advancing clinical research on CLS001, the company is currently working with several research institutions to develop treatments for new diseases by adding various genes to CLS001. The company serves business and institutional customers through products and services in the biopharmaceutical market. Its commercial model is built primarily on technology licensing and product sales, reflecting the way customers obtain and use its offering. JIC Venture Growth Investments classifies the business in its Middle to Growth portfolio and records June 2023 for the company. The company maintains its operating website at cellusion.jp, while JIC VGI's portfolio materials preserve the public record of the investment relationship. | |
| HQ Country | | | | | |
| HQ City | Kyoto | Fujisawa | Aomori | Tokyo | |
| Deal Date | 21 Jun 2026 | 25 Jun 2025 | 22 Jul 2024 | 6 Jan 2022 | |
| Round | Undisclosed stage | Series A | Series C | Series A | |
| Raised | $8M | $5M | $15M | $10M | |
| Investors | DCI Partners; JIC Venture Growth Investments; Jafco Group; Regional Healthcare Industry Revitalization Platform; Kyushin Social Capital; Chushin Venture Capital; Toho Holdings; Mitsubishi UFJ Capital; BA7 Venture Capital; Kyoto University Innovation Capital; Arcus Investment; SPARX Asset Management | ICMG Ventures; UntroD Capital; Yokohama Capital; Toho Holdings; Angel Bridge; Nissay Capital; Gogin Capital | Fiducia; Nippon Venture Capital; Axil Capital; Cyberdyne; QB No. 2 Investment; Toho Holdings; 77 Bank; Mitsubishi UFJ Capital; MTG Ventures; SRD Holdings; 77 Capital; Sumitomo Mitsui Trust Bank | UTEC-The University of Tokyo Edge Capital Partners; DBJ Capital; Gemseki; Toho Holdings; Keio Innovation Initiative; Toyo Seikan; SMBC Venture Capital | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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Start Free TrialAbout Toho Holdings
| When was Toho Holdings founded? | Toho Holdings was founded in 1948. |
| Where is Toho Holdings headquartered? | Toho Holdings is headquartered in Japan. |
| How many employees does Toho Holdings have? | As of today, Toho Holdings has over 10K employees. |
| Who is the CEO of Toho Holdings? | Toho Holdings' CEO is Hiromi Edahiro. |
| Is Toho Holdings publicly listed? | Yes, Toho Holdings is a public company listed on Tokyo Stock Exchange. |
| What is the stock symbol of Toho Holdings? | Toho Holdings trades under 8129 ticker. |
| When did Toho Holdings go public? | Toho Holdings went public in 2002. |
| Who are competitors of Toho Holdings? | Toho Holdings main competitors include |
| What is the current market cap of Toho Holdings? | Toho Holdings' current market cap is $1.6B. |
| What is the current revenue of Toho Holdings? | Toho Holdings' last 12 months revenue is $10B. |
| What is the current revenue growth of Toho Holdings? | Toho Holdings revenue growth (NTM/LTM) is 3%. |
| What is the current EV/Revenue multiple of Toho Holdings? | Current revenue multiple of Toho Holdings is 0.1x. |
| What is the current EBITDA of Toho Holdings? | Toho Holdings' last 12 months EBITDA is $136M. |
| What is Toho Holdings' EBITDA margin? | Toho Holdings' last 12 months EBITDA margin is 1%. |
| What is the current EV/EBITDA multiple of Toho Holdings? | Current EBITDA multiple of Toho Holdings is 6.8x. |
| What is the current FCF of Toho Holdings? | Toho Holdings' last 12 months FCF is $115M. |
| What is Toho Holdings' FCF margin? | Toho Holdings' last 12 months FCF margin is 1%. |
| What is the current EV/FCF multiple of Toho Holdings? | Current FCF multiple of Toho Holdings is 8.0x. |
| How many companies Toho Holdings has acquired to date? | As of November 2026, Toho Holdings has acquired 1 company. |
| What was the largest acquisition by Toho Holdings? | None of the M&A deals Toho Holdings has completed have disclosed valuations. |
| What companies Toho Holdings acquired? | Toho Holdings acquired eHealthcare. |
| In how many companies Toho Holdings has invested to date? | As of November 2026, Toho Holdings has invested in 8 companies. |
| What was the last Toho Holdings investment? | On 21st June 2026 Toho Holdings invested in Rege Nephro, participating in a $8M Undisclosed stage round, alongside DCI Partners, JIC Venture Growth Investments, Jafco Group, Regional Healthcare Industry Revitalization Platform, Kyushin Social Capital, Chushin Venture Capital, Mitsubishi UFJ Capital, BA7 Venture Capital, Kyoto University Innovation Capital, Arcus Investment, and 1 other investor. |
| In what companies Toho Holdings invested in? | Toho Holdings invested in Hirosaki Lifescience Innovation, Cellusion, Kringle Pharma, Rege Nephro, RegCell, Reborna Biosciences, HekaBio, and Aevice Health. |
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