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Taiheiyo Cement

DB:TIE
Snowflake Description

Very undervalued with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TIE
DB
¥242B
Market Cap
  1. Home
  2. DE
  3. Materials
Company description

Taiheiyo Cement Corporation engages in cement, mineral resources, environmental, and construction materials businesses in Japan and internationally. The last earnings update was 57 days ago. More info.


Add to Portfolio Compare Print
  • Taiheiyo Cement has significant price volatility in the past 3 months.
TIE Share Price and Events
7 Day Returns
7.9%
DB:TIE
6.6%
Europe Basic Materials
2.1%
DE Market
1 Year Returns
-46.7%
DB:TIE
-26.7%
Europe Basic Materials
-16.6%
DE Market
TIE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Taiheiyo Cement (TIE) 7.9% -16.8% -35.4% -46.7% -47% -43%
Europe Basic Materials 6.6% -18.2% -32.2% -26.7% -36.7% -34%
DE Market 2.1% -12.6% -22.9% -16.6% -21.9% -27.8%
1 Year Return vs Industry and Market
  • TIE underperformed the Basic Materials industry which returned -26.7% over the past year.
  • TIE underperformed the Market in Germany which returned -16.6% over the past year.
Price Volatility
TIE
Industry
5yr Volatility vs Market

TIE Value

 Is Taiheiyo Cement undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Taiheiyo Cement to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Taiheiyo Cement.

DB:TIE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:TIE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.3%
Basic Materials Unlevered Beta Simply Wall St/ S&P Global 0.82
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.817 (1 + (1- 30.86%) (117.32%))
1.322
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.32
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.322 * 6.33%)
7.98%

Discounted Cash Flow Calculation for DB:TIE using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Taiheiyo Cement is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:TIE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 7.98%)
2020 21,960.75 Analyst x4 20,338.16
2021 25,622.50 Analyst x4 21,976.10
2022 27,910.00 Analyst x4 22,169.38
2023 45,640.00 Analyst x1 33,574.06
2024 56,209.00 Analyst x1 38,293.81
2025 63,639.92 Est @ 13.22% 40,152.90
2026 69,454.77 Est @ 9.14% 40,583.91
2027 73,815.82 Est @ 6.28% 39,945.32
2028 76,973.88 Est @ 4.28% 38,576.63
2029 79,189.03 Est @ 2.88% 36,754.50
Present value of next 10 years cash flows ¥332,364.00
DB:TIE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥79,189.03 × (1 + -0.39%) ÷ (7.98% – -0.39%)
¥942,636.10
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥942,636.10 ÷ (1 + 7.98%)10
¥437,511.58
DB:TIE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥332,364.00 + ¥437,511.58
¥769,875.58
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥769,875.58 / 122.39
¥6290.59
DB:TIE Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:TIE represents 0.00828x of TSE:5233
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00828x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 6,290.59 x 0.00828
€52.08
Value per share (EUR) From above. €52.08
Current discount Discount to share price of €16.40
= -1 x (€16.40 - €52.08) / €52.08
68.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Taiheiyo Cement is available for.
Intrinsic value
>50%
Share price is €16.4 vs Future cash flow value of €52.08
Current Discount Checks
For Taiheiyo Cement to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Taiheiyo Cement's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Taiheiyo Cement's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Taiheiyo Cement's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Taiheiyo Cement's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:TIE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in JPY ¥325.78
TSE:5233 Share Price ** TSE (2020-04-07) in JPY ¥1981
Europe Basic Materials Industry PE Ratio Median Figure of 33 Publicly-Listed Basic Materials Companies 9.52x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 16.83x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Taiheiyo Cement.

DB:TIE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:5233 Share Price ÷ EPS (both in JPY)

= 1981 ÷ 325.78

6.08x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Taiheiyo Cement is good value based on earnings compared to the Europe Basic Materials industry average.
  • Taiheiyo Cement is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Taiheiyo Cement's expected growth come at a high price?
Raw Data
DB:TIE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.08x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
8.2%per year
Europe Basic Materials Industry PEG Ratio Median Figure of 17 Publicly-Listed Basic Materials Companies 1.67x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

DB:TIE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.08x ÷ 8.2%

0.74x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Taiheiyo Cement is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Taiheiyo Cement's assets?
Raw Data
DB:TIE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in JPY ¥3,566.38
TSE:5233 Share Price * TSE (2020-04-07) in JPY ¥1981
Europe Basic Materials Industry PB Ratio Median Figure of 39 Publicly-Listed Basic Materials Companies 0.85x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.45x
DB:TIE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:5233 Share Price ÷ Book Value per Share (both in JPY)

= 1981 ÷ 3,566.38

0.56x

* Primary Listing of Taiheiyo Cement.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Taiheiyo Cement is good value based on assets compared to the Europe Basic Materials industry average.
X
Value checks
We assess Taiheiyo Cement's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Basic Materials industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Basic Materials industry average (and greater than 0)? (1 check)
  5. Taiheiyo Cement has a total score of 6/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

TIE Future Performance

 How is Taiheiyo Cement expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
8.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Taiheiyo Cement expected to grow at an attractive rate?
  • Taiheiyo Cement's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Taiheiyo Cement's earnings growth is positive but not above the Germany market average.
  • Taiheiyo Cement's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:TIE Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:TIE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 8.2%
DB:TIE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 1.9%
Europe Basic Materials Industry Earnings Growth Rate Market Cap Weighted Average 4.7%
Europe Basic Materials Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:TIE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:TIE Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31 967,900 96,209 55,700 1
2023-03-31 957,600 95,640 54,600 1
2022-03-31 927,420 91,160 45,740 5
2021-03-31 911,780 90,123 43,500 5
2020-04-07
2020-03-31 898,220 93,636 39,683 5
DB:TIE Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-12-31 886,509 39,916
2019-09-30 908,760 88,764 42,316
2019-06-30 911,603 42,934
2019-03-31 916,071 97,283 43,452
2018-12-31 910,609 40,071
2018-09-30 887,876 103,303 38,935
2018-06-30 882,836 40,027
2018-03-31 871,113 107,683 38,525
2017-12-31 859,439 23,011
2017-09-30 843,596 106,452 22,253
2017-06-30 822,774 36,951
2017-03-31 798,588 94,433 47,597

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Taiheiyo Cement's earnings are expected to grow by 8.2% yearly, however this is not considered high growth (20% yearly).
  • Taiheiyo Cement's revenue is expected to grow by 1.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:TIE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Taiheiyo Cement Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TIE Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31 510.50 510.50 510.50 1.00
2023-03-31 483.00 483.00 483.00 1.00
2022-03-31 381.60 450.70 347.26 5.00
2021-03-31 358.50 412.90 333.37 5.00
2020-04-07
2020-03-31 324.41 337.40 304.09 5.00
DB:TIE Past Financials Data
Date (Data in JPY Millions) EPS *
2019-12-31 325.78
2019-09-30 344.42
2019-06-30 348.49
2019-03-31 351.72
2018-12-31 323.82
2018-09-30 314.63
2018-06-30 323.46
2018-03-31 311.39
2017-12-31 186.09
2017-09-30 179.52
2017-06-30 297.57
2017-03-31 383.91

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Taiheiyo Cement is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Taiheiyo Cement's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Taiheiyo Cement has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

TIE Past Performance

  How has Taiheiyo Cement performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Taiheiyo Cement's growth in the last year to its industry (Basic Materials).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Taiheiyo Cement's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Taiheiyo Cement's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Taiheiyo Cement's 1-year earnings growth is negative, it can't be compared to the Europe Basic Materials industry average.
Earnings and Revenue History
Taiheiyo Cement's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Taiheiyo Cement Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TIE Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 886,509.00 39,916.00 132,631.00
2019-09-30 908,760.00 42,316.00 134,163.00
2019-06-30 911,603.00 42,934.00 135,523.00
2019-03-31 916,071.00 43,452.00 136,908.00
2018-12-31 910,609.00 40,071.00 138,579.00
2018-09-30 887,876.00 38,935.00 138,439.00
2018-06-30 882,836.00 40,027.00 139,322.00
2018-03-31 871,113.00 38,525.00 139,520.00
2017-12-31 859,439.00 23,011.00 138,050.00
2017-09-30 843,596.00 22,253.00 137,113.00
2017-06-30 822,774.00 36,951.00 135,499.00
2017-03-31 798,588.00 47,597.00 132,911.00
2016-12-31 801,004.00 66,946.00 132,516.00
2016-09-30 797,136.00 62,874.00 130,416.00
2016-06-30 800,943.00 45,127.00 129,302.00
2016-03-31 835,359.00 36,404.00 131,583.00
2015-12-31 847,420.00 36,762.00 133,584.00
2015-09-30 853,703.00 41,761.00 133,333.00
2015-06-30 857,906.00 41,946.00 134,856.00
2015-03-31 842,848.00 44,114.00 132,025.00
2014-12-31 841,853.00 45,425.00 129,451.00
2014-09-30 846,174.00 43,202.00 129,366.00
2014-06-30 847,753.00 41,902.00 127,751.00
2014-03-31 840,288.00 35,223.00 126,031.00
2013-12-31 816,542.00 27,931.00 123,756.00
2013-09-30 792,508.00 20,966.00 121,644.00
2013-06-30 768,175.00 18,751.00 118,748.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Taiheiyo Cement has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Taiheiyo Cement used its assets less efficiently than the Europe Basic Materials industry average last year based on Return on Assets.
  • Taiheiyo Cement's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Taiheiyo Cement's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Basic Materials industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Taiheiyo Cement has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

TIE Health

 How is Taiheiyo Cement's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Taiheiyo Cement's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Taiheiyo Cement's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Taiheiyo Cement's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Taiheiyo Cement's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Taiheiyo Cement Company Filings, last reported 3 months ago.

DB:TIE Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 472,762.00 284,429.00 54,172.00
2019-09-30 458,632.00 276,518.00 48,629.00
2019-06-30 452,073.00 285,621.00 57,304.00
2019-03-31 450,645.00 279,614.00 56,561.00
2018-12-31 451,935.00 295,717.00 60,148.00
2018-09-30 441,940.00 287,747.00 56,193.00
2018-06-30 427,283.00 297,604.00 58,891.00
2018-03-31 432,327.00 288,606.00 53,766.00
2017-12-31 424,596.00 317,425.00 62,155.00
2017-09-30 408,398.00 319,197.00 58,628.00
2017-06-30 396,047.00 333,616.00 56,340.00
2017-03-31 400,034.00 340,929.00 60,516.00
2016-12-31 386,353.00 357,074.00 65,851.00
2016-09-30 381,011.00 370,596.00 77,482.00
2016-06-30 355,911.00 389,064.00 52,438.00
2016-03-31 357,072.00 394,497.00 53,539.00
2015-12-31 361,801.00 431,598.00 58,682.00
2015-09-30 361,087.00 434,867.00 105,720.00
2015-06-30 350,410.00 397,198.00 57,391.00
2015-03-31 347,489.00 399,138.00 53,859.00
2014-12-31 317,398.00 433,863.00 65,976.00
2014-09-30 292,865.00 429,592.00 57,427.00
2014-06-30 276,725.00 444,446.00 59,185.00
2014-03-31 273,312.00 435,118.00 59,369.00
2013-12-31 258,631.00 461,726.00 66,296.00
2013-09-30 244,272.00 470,576.00 67,352.00
2013-06-30 228,295.00 483,124.00 65,710.00
  • Taiheiyo Cement's level of debt (56.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (129.3% vs 56.4% today).
  • Debt is well covered by operating cash flow (33.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 26.6x coverage).
X
Financial health checks
We assess Taiheiyo Cement's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Taiheiyo Cement has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

TIE Dividends

 What is Taiheiyo Cement's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.03%
Current annual income from Taiheiyo Cement dividends. Estimated to be 3.24% next year.
If you bought €2,000 of Taiheiyo Cement shares you are expected to receive €61 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Taiheiyo Cement's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.67%).
  • Taiheiyo Cement's dividend is below the markets top 25% of dividend payers in Germany (4.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:TIE Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
Europe Basic Materials Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 4.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.7%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:TIE Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-03-31 70.00 1.00
2023-03-31 70.00 1.00
2022-03-31 64.00 5.00
2021-03-31 62.00 5.00
2020-04-07
2020-03-31 60.00 5.00
DB:TIE Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-11-13 60.000 2.199
2019-11-12 60.000 1.858
2019-06-28 60.000 2.036
2019-05-14 60.000 1.830
2019-02-13 60.000 1.612
2019-02-12 60.000 1.639
2018-11-09 60.000 1.656
2018-11-08 60.000 1.677
2018-06-29 60.000 1.754
2018-05-10 60.000 1.501
2018-02-09 60.000 1.540
2018-02-08 60.000 1.434
2017-11-10 60.000 1.268
2017-11-09 60.000 1.322
2017-05-30 60.000 1.455
2017-02-13 60.000 1.580
2017-02-10 60.000 1.466
2016-11-11 60.000 1.606
2016-11-10 60.000 1.808
2016-06-30 60.000 2.092
2016-05-12 60.000 2.271
2015-11-10 60.000 1.979
2015-06-29 60.000 1.545
2015-05-12 60.000 1.614
2014-08-08 50.000 1.301
2014-06-30 50.000 1.247
2014-05-13 50.000 1.263
2014-02-13 40.000 1.095
2014-02-12 60.000 1.538
2013-11-13 60.000 1.497
2013-11-12 60.000 1.426
2013-06-28 40.000 1.054
2013-05-14 40.000 1.330
2013-02-12 40.000 1.720
2013-02-08 40.000 1.680
2012-11-14 40.000 1.879
2012-11-13 40.000 2.353
2012-08-10 40.000 2.389
2012-06-29 40.000 2.270
2012-05-15 40.000 2.418
2012-02-13 40.000 2.221
2011-11-14 40.000 2.583
2011-08-11 40.000 2.781
2011-05-11 25.000 1.620
2011-02-10 0.000 0.000
2010-11-12 0.000 0.000
2010-11-09 0.000 0.000
2010-08-12 0.000 0.000
2010-08-10 0.000 0.000
2010-06-30 0.000 0.000
2010-05-11 0.000 0.000
2009-06-29 20.000 1.632
2009-05-15 20.000 1.142

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Taiheiyo Cement's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (5.4x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Taiheiyo Cement's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Taiheiyo Cement afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Taiheiyo Cement has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

TIE Management

 What is the CEO of Taiheiyo Cement's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Masafumi Fushihara
TENURE AS CEO 2.3 years
CEO Bio

Mr. Masafumi Fushihara has been President of Taiheiyo Cement Corporation since 2018 and serves as its Director. Mr. Fushihara served as Senior General Manager of Cement Business Division at Taiheiyo Cement Corporation until 2018 and its Senior Executive Officer from April 5, 2017 to 2018. Mr. Fushihara served as Managing Executive Officer at Taiheiyo Cement Corporation until April 5, 2017 and also served as its Executive Officer.

CEO Compensation
  • Insufficient data for Masafumi to compare compensation growth.
  • Insufficient data for Masafumi to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure of the Taiheiyo Cement management team in years:

4
Average Tenure
  • The tenure for the Taiheiyo Cement management team is about average.
Management Team

Masafumi Fushihara

TITLE
President & Representative Director
TENURE
2.3 yrs

Seiichi Araki

TITLE
Executive Officer

Yuuichi Kitabayashi

TITLE
VP & Representative Director

Masahiro Karino

TITLE
Senior Executive Officer & Director

Kunihiro Ando

TITLE
Managing Executive Officer & Director
TENURE
4 yrs

Toshiaki Suzuki

TITLE
Managing Executive Officer

Katsuhide Fukuhara

TITLE
Managing Executive Officer & Director
TENURE
3 yrs

Yoshiyuki Uenoyama

TITLE
Managing Executive Officer & Director
TENURE
4 yrs

Hideaki Asakura

TITLE
Managing Executive Officer & Director
TENURE
4 yrs

Tetsuya Ohashi

TITLE
Managing Executive Officer & Director
TENURE
4 yrs
Board of Directors Tenure

Average tenure of the Taiheiyo Cement board of directors in years:

2.8
Average Tenure
  • The average tenure for the Taiheiyo Cement board of directors is less than 3 years, this suggests a new board.
Board of Directors

Shuji Fukuda

TITLE
Chairman of the Board
AGE
68
TENURE
2 yrs

Masafumi Fushihara

TITLE
President & Representative Director

Yuuichi Kitabayashi

TITLE
VP & Representative Director

Masahiro Karino

TITLE
Senior Executive Officer & Director
TENURE
3.8 yrs

Kunihiro Ando

TITLE
Managing Executive Officer & Director
TENURE
3.8 yrs

Toshiaki Suzuki

TITLE
Managing Executive Officer
TENURE
1.8 yrs

Katsuhide Fukuhara

TITLE
Managing Executive Officer & Director
TENURE
2.8 yrs

Yoshiyuki Uenoyama

TITLE
Managing Executive Officer & Director

Hideaki Asakura

TITLE
Managing Executive Officer & Director

Tetsuya Ohashi

TITLE
Managing Executive Officer & Director
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Taiheiyo Cement's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Taiheiyo Cement has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

TIE News

Simply Wall St News

TIE Company Info

Description

Taiheiyo Cement Corporation engages in cement, mineral resources, environmental, and construction materials businesses in Japan and internationally. The company’s Cement segment offers ordinary Portland cement, specialty cement, soil stabilizers, and ready-mixed concrete. Its Mineral Resources segment sells limestone aggregate products comprising course and fine aggregate used in ready-mixed concrete, and aggregate used in concrete products and civil engineering; sandstone and andesite as aggregate materials; quicklime, slaked lime, filler, silica, and silica powder; and hollow ceramics, sepiolite, wollastonite, and kaolin, as well as recycles surplus construction soil. The company’s Environmental segment recycles used tires, waste plastics, paper sludge, waste casting sand, other industrial waste, surplus soil from water purification, sewage sludge, dredging sludge, and other wastes discarded from municipalities, as well as engages in the CFC treatment and building waste treatment plants; develops and commercializes environmental recycling technologies, including ash washing system and applied kiln system; supplies flue gas desulfurization materials, such as calcium carbonate to coal-fired power plants; and sells slag powder and other inorganic materials, coal, heavy oil, and other fuels, as well as chemicals and gypsum. Its Construction Materials segment produces precast concrete products; promenades, interlocking blocks, and concrete housing products; acoustic panels used to reduce construction noise; and fireproof covering materials used in tunnels. The company’s Other Businesses segment leases land for office buildings, commercial stores, leisure facilities, distribution warehouses, and other structures, as well as develops land for residential housing; and engages in data processing, transportation and warehouse, engineering, chemical products, and sports businesses. Taiheiyo Cement Corporation was founded in 1881 and is headquartered in Tokyo, Japan.

Details
Name: Taiheiyo Cement Corporation
TIE
Exchange: DB
Founded: 1881
¥2,043,429,488
122,385,298
Website: http://www.taiheiyo-cement.co.jp
Address: Taiheiyo Cement Corporation
Daiba Garden City Building,
2-3-5, Daiba,
Tokyo,
135-8578,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 5233 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
OTCPK THYC.F Common Stock Pink Sheets LLC US USD 06. Jan 1992
DB TIE Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
OTCPK THYC.Y UNSPONSORED ADR Pink Sheets LLC US USD 19. Nov 1992
Number of employees
Current staff
Staff numbers
13,083
Taiheiyo Cement employees.
Industry
Construction Materials
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 22:56
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/03/24
Last earnings filing: 2020/02/10
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.