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Tokyo Metro Valuation Multiples
Discover revenue and EBITDA valuation multiples for Tokyo Metro and similar public comparables like Rumo, Tokyu, Aurizon Holdings, Taiwan High Speed Rail and more.
Tokyo Metro Overview
About Tokyo Metro
Tokyo Metro Co Ltd is engaged in the transportation, real estate, distribution, and advertising businesses. The Transportation segment operates and manages a subway network of nine lines mainly in the Tokyo metropolitan area. The Real Estate segment develops and rents office buildings and hotels, such as Shibuya Mark City, along railway lines. The Distribution and Advertising segment operates commercial facilities like Echika at subway stations and handles advertising within stations and trains, as well as information and communication services. It generates the majority of its revenue from the Transportation segment.
Founded
2004
HQ

Employees
13.2K
Website
Sectors
Financials (LTM)
EV
$13B
Tokyo Metro Financials
Tokyo Metro reported last 12-month revenue of $3B and EBITDA of $1B.
In the same LTM period, Tokyo Metro generated $913M in gross profit, $1B in EBITDA, and $371M in net income.
Revenue (LTM)
Tokyo Metro P&L
In the most recent fiscal year, Tokyo Metro reported revenue of $3B and EBITDA of $1B.
Tokyo Metro expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $3B | XXX | $3B | XXX | XXX | XXX |
| Gross Profit | $913M | XXX | — | XXX | XXX | XXX |
| Gross Margin | 34% | XXX | — | XXX | XXX | XXX |
| EBITDA | $1B | XXX | $1B | XXX | XXX | XXX |
| EBITDA Margin | 39% | XXX | 39% | XXX | XXX | XXX |
| EBIT Margin | 21% | XXX | 21% | XXX | XXX | XXX |
| Net Profit | $371M | XXX | $378M | XXX | XXX | XXX |
| Net Margin | 14% | XXX | 13% | XXX | XXX | XXX |
| Net Debt | — | — | $7B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Tokyo Metro Stock Performance
Tokyo Metro has current market cap of $6B, and enterprise value of $13B.
Market Cap Evolution
Tokyo Metro's stock price is $10.59.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $13B | $6B | (0.4%) | XXX | XXX | XXX | $0.65 |
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Start Free TrialTokyo Metro Valuation Multiples
Tokyo Metro trades at 4.7x EV/Revenue multiple, and 12.1x EV/EBITDA.
EV / Revenue (LTM)
Tokyo Metro Financial Valuation Multiples
As of March 7, 2026, Tokyo Metro has market cap of $6B and EV of $13B.
Equity research analysts estimate Tokyo Metro's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Tokyo Metro has a P/E ratio of 16.6x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $6B | XXX | $6B | XXX | XXX | XXX |
| EV (current) | $13B | XXX | $13B | XXX | XXX | XXX |
| EV/Revenue | 4.7x | XXX | 4.4x | XXX | XXX | XXX |
| EV/EBITDA | 12.1x | XXX | 11.2x | XXX | XXX | XXX |
| EV/EBIT | 22.0x | XXX | 20.5x | XXX | XXX | XXX |
| EV/Gross Profit | 13.7x | XXX | — | XXX | XXX | XXX |
| P/E | 16.6x | XXX | 16.3x | XXX | XXX | XXX |
| EV/FCF | 275.4x | XXX | 70.8x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Tokyo Metro 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.


Tokyo Metro Margins & Growth Rates
Tokyo Metro's revenue in the last 12 month grew by 2%.
Tokyo Metro's revenue per employee in the last FY averaged $0.2M.
Tokyo Metro's rule of 40 is 41% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Tokyo Metro's rule of X is 44% (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).
Tokyo Metro Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 2% | XXX | (6%) | XXX | XXX | XXX |
| EBITDA Margin | 39% | XXX | 39% | XXX | XXX | XXX |
| EBITDA Growth | 2% | XXX | (8%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 41% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 44% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 71% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Tokyo Metro Public Comps
See public comps and valuation multiples for other Railways comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Rumo | XXX | XXX | XXX | XXX | XXX | XXX |
| Tokyu | XXX | XXX | XXX | XXX | XXX | XXX |
| Aurizon Holdings | XXX | XXX | XXX | XXX | XXX | XXX |
| Taiwan High Speed Rail | XXX | XXX | XXX | XXX | XXX | XXX |
| Inner Mongolia First Machinery Group | 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.
Tokyo Metro M&A Activity
Tokyo Metro acquired XXX companies to date.
Last acquisition by Tokyo Metro was on XXXXXXXX, XXXXX. Tokyo Metro acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Tokyo Metro
| 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 TrialTokyo Metro Investment Activity
Tokyo Metro invested in XXX companies to date.
Tokyo Metro made its latest investment on XXXXXXXX, XXXXX. Tokyo Metro invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Tokyo Metro
| 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 Tokyo Metro
| When was Tokyo Metro founded? | Tokyo Metro was founded in 2004. |
| Where is Tokyo Metro headquartered? | Tokyo Metro is headquartered in Japan. |
| How many employees does Tokyo Metro have? | As of today, Tokyo Metro has over 13K employees. |
| Who is the CEO of Tokyo Metro? | Tokyo Metro's CEO is Akiyoshi Yamamura. |
| Is Tokyo Metro publicly listed? | Yes, Tokyo Metro is a public company listed on Tokyo Stock Exchange. |
| What is the stock symbol of Tokyo Metro? | Tokyo Metro trades under 9023 ticker. |
| When did Tokyo Metro go public? | Tokyo Metro went public in 2024. |
| Who are competitors of Tokyo Metro? | Tokyo Metro main competitors are Rumo, Tokyu, Aurizon Holdings, Taiwan High Speed Rail. |
| What is the current market cap of Tokyo Metro? | Tokyo Metro's current market cap is $6B. |
| What is the current revenue of Tokyo Metro? | Tokyo Metro's last 12 months revenue is $3B. |
| What is the current revenue growth of Tokyo Metro? | Tokyo Metro revenue growth (NTM/LTM) is 2%. |
| What is the current EV/Revenue multiple of Tokyo Metro? | Current revenue multiple of Tokyo Metro is 4.7x. |
| Is Tokyo Metro profitable? | Yes, Tokyo Metro is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Tokyo Metro? | Tokyo Metro's last 12 months EBITDA is $1B. |
| What is Tokyo Metro's EBITDA margin? | Tokyo Metro's last 12 months EBITDA margin is 39%. |
| What is the current EV/EBITDA multiple of Tokyo Metro? | Current EBITDA multiple of Tokyo Metro is 12.1x. |
| What is the current FCF of Tokyo Metro? | Tokyo Metro's last 12 months FCF is $45M. |
| What is Tokyo Metro's FCF margin? | Tokyo Metro's last 12 months FCF margin is 2%. |
| What is the current EV/FCF multiple of Tokyo Metro? | Current FCF multiple of Tokyo Metro is 275.4x. |
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