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Tokyo Gas Valuation Multiples

Discover revenue and EBITDA valuation multiples for Tokyo Gas and similar public comparables like Chrysos Corp., APA Group, and AGL Energy.

Tokyo Gas Overview

About Tokyo Gas

Tokyo Gas Co Ltd is a Japanese utility company involved in the production, generation, and supply of natural gas and electricity. Tokyo Gas segments its operations into Gas, Electric Power, Overseas, and Other business units. The company's Gas division generates the vast majority of its total revenue through the supply and sale of natural gas to, namely, the Tokyo metropolitan area and other Japanese urban areas. Tokyo Gas' supply of natural gas is fairly evenly distributed amongst residential, commercial, industrial, and power generation customers. The company's Electric Power business also represents a significant income stream. This division operates a portfolio of cogeneration and natural gas-fired thermal power plants primarily located in the Tokyo area.


Founded

1885

HQ

Japan
Employees

16.7K+

Website

tokyo-gas.co.jp

Financials

LTM Revenue $18.0B

LTM EBITDA $2.6B

EV

$17.9B

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Tokyo Gas Financials

Tokyo Gas has a last 12-month revenue of $18.0B and a last 12-month EBITDA of $2.6B.

In the most recent fiscal year, Tokyo Gas achieved revenue of $17.7B and an EBITDA of $3.2B.

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

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Tokyo Gas P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $21.9B $17.7B XXX XXX XXX
Gross Profit $4.0B $4.6B XXX XXX XXX
Gross Margin 18% 26% XXX XXX XXX
EBITDA $4.2B $3.2B XXX XXX XXX
EBITDA Margin 19% 18% XXX XXX XXX
Net Profit $590M $1.9B XXX XXX XXX
Net Margin 3% 11% XXX XXX XXX
Net Debt $6.6B $5.2B XXX XXX XXX

Financial data powered by Morningstar, Inc.

Tokyo Gas Stock Performance

As of April 15, 2025, Tokyo Gas's stock price is JPY 4846 (or $32).

Tokyo Gas has current market cap of JPY 1.79T (or $11.9B), and EV of JPY 2.70T (or $17.9B).

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Tokyo Gas Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$17.9B $11.9B XXX XXX XXX XXX $1.40

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Tokyo Gas Valuation Multiples

As of April 15, 2025, Tokyo Gas has market cap of $11.9B and EV of $17.9B.

Tokyo Gas's trades at 1.0x LTM EV/Revenue multiple, and 7.0x LTM EBITDA.

Analysts estimate Tokyo Gas's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Tokyo Gas Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $17.9B XXX XXX XXX
EV/Revenue 1.0x XXX XXX XXX
EV/EBITDA 6.6x XXX XXX XXX
P/E 17.7x XXX XXX XXX
P/E/Growth 1.6x XXX XXX XXX
EV/FCF 72.5x XXX XXX XXX

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Tokyo Gas Valuation Multiples

Tokyo Gas's NTM/LTM revenue growth is 1%

Tokyo Gas's revenue per employee for the last fiscal year averaged $1.1M, while opex per employee averaged $0.1M for the same period.

Over next 12 months, Tokyo Gas's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Tokyo Gas's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Tokyo Gas Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -19% XXX XXX XXX XXX
EBITDA Margin 15% XXX XXX XXX XXX
EBITDA Growth -24% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 16% XXX XXX XXX XXX
Revenue per Employee $1.1M XXX XXX XXX XXX
Opex per Employee $0.1M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 10% XXX XXX XXX XXX

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Tokyo Gas Public Comps

See public comps and valuation multiples for Utilities and Energy Exploration & Generation comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
TAQA XXX XXX XXX XXX XXX XXX
New Sources Energy XXX XXX XXX XXX XXX XXX
AGL Energy XXX XXX XXX XXX XXX XXX
APA Group XXX XXX XXX XXX XXX XXX
Chrysos Corp. XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Tokyo Gas M&A and Investment Activity

Tokyo Gas acquired  XXX companies to date.

Last acquisition by Tokyo Gas was  XXXXXXXX, XXXXX XXXXX XXXXXX . Tokyo Gas acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Tokyo Gas

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Tokyo Gas

When was Tokyo Gas founded? Tokyo Gas was founded in 1885.
Where is Tokyo Gas headquartered? Tokyo Gas is headquartered in Japan.
How many employees does Tokyo Gas have? As of today, Tokyo Gas has 16.7K+ employees.
Who is the CEO of Tokyo Gas? Tokyo Gas's CEO is Mr. Shinichi Sasayama.
Is Tokyo Gas publicy listed? Yes, Tokyo Gas is a public company listed on TKS.
What is the stock symbol of Tokyo Gas? Tokyo Gas trades under 9531 ticker.
When did Tokyo Gas go public? Tokyo Gas went public in 1949.
Who are competitors of Tokyo Gas? Similar companies to Tokyo Gas include e.g. TAQA, New Sources Energy, AGL Energy, APA Group.
What is the current market cap of Tokyo Gas? Tokyo Gas's current market cap is $11.9B
What is the current revenue of Tokyo Gas? Tokyo Gas's last 12-month revenue is $18.0B.
What is the current EBITDA of Tokyo Gas? Tokyo Gas's last 12-month EBITDA is $2.6B.
What is the current EV/Revenue multiple of Tokyo Gas? Current revenue multiple of Tokyo Gas is 1.0x.
What is the current EV/EBITDA multiple of Tokyo Gas? Current EBITDA multiple of Tokyo Gas is 7.0x.
What is the current revenue growth of Tokyo Gas? Tokyo Gas revenue growth between 2023 and 2024 was -19%.
Is Tokyo Gas profitable? Yes, Tokyo Gas is EBITDA-positive (as of the last 12 months).

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