TOCALO Co.,Ltd. logo

TOCALO Co.,Ltd.

3433.T

JPXIndustrialsIndustrial - Machinery

Latest quote

¥2,783

+¥18.00 · +0.65%

Aug 24, 3:30 PM JST

3433.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Company website

TOCALO Co.,Ltd., a Japanese company with its headquarters in Kobe, specializes in pioneering surface modification technologies for both domestic and international markets. The firm produces a variety of high-performance functional coatings, employing an extensive array of thermal spraying techniques. These include advanced processes like vacuum and atmospheric plasma, electric arc, high velocity oxy-fuel (HVOF), and suspension plasma spraying, alongside SDC thick coatings and traditional powder, rod, and wire flame spraying methods. Furthermore, TOCALO offers other specialized surface enhancement solutions, such as CDC-ZAC coating, the TD process, PTA process, WIN KOTE, PVD process, and laser cladding. Its sophisticated products are integral to a broad spectrum of industries, including semiconductor and flat panel displays, iron and steel, medical equipment, power generation, diverse transportation and industrial machinery, pulp and paper, petrochemical plants, plastics and films, construction, food production, and cutting tools. Originally established in 1951 as Toyo Calorizing Industry Co., Ltd., the company officially changed its name to TOCALO Co.,Ltd. in 1981.

Industry
Industrial - Machinery
Sector
Industrials
Headquarters
JP
CEO
Kazuya Kobayashi
Listed since
Dec 19, 2003
Employees
1,573

Market position

Day range

Current ¥2,783

52-week range

Current ¥2,783

Open
¥2,769
Previous close
¥2,765
Volume
215.8K
0.78× average
Average volume
277.03K
Average daily volume
Market cap
165.5B JPY
Beta
0.85
Market reference 1
50-day average
¥3,057.84
-8.99% below average
200-day average
¥2,759.27
+0.86% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
141.49B JPY
P/E (TTM)
16.39×
P/B (TTM)
2.48×
P/S (TTM)
2.76×
EV / EBITDA
9.57×
Earnings yield
6.77%
Free cash flow yield
-1.35%
Dividend yield
3.05%

Profitability & efficiency

Gross margin
37.08%
Operating margin
23.47%
Net margin
16.83%
Return on equity
15.07%
Return on assets
11.27%
Return on invested capital
12.79%

Financial health

Debt / equity
0.18×
Current ratio
3.98×
Altman Z-score
6.73
Piotroski F-score
3 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends40%31%21%11%Gross margin, FY2021: 37.87%Gross margin, FY2022: 36.09%Gross margin, FY2023: 34.82%Gross margin, FY2024: 37.42%Gross margin, FY2025: 37.78%Operating margin, FY2021: 23.41%Operating margin, FY2022: 21.93%Operating margin, FY2023: 19.68%Operating margin, FY2024: 22.63%Operating margin, FY2025: 24.11%Net margin, FY2021: 15.77%Net margin, FY2022: 15.27%Net margin, FY2023: 13.54%Net margin, FY2024: 14.85%Net margin, FY2025: 17.20%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 37.87%. Gross margin FY2022 36.09%. Gross margin FY2023 34.82%. Gross margin FY2024 37.42%. Gross margin FY2025 37.78%. Operating margin FY2021 23.41%. Operating margin FY2022 21.93%. Operating margin FY2023 19.68%. Operating margin FY2024 22.63%. Operating margin FY2025 24.11%. Net margin FY2021 15.77%. Net margin FY2022 15.27%. Net margin FY2023 13.54%. Net margin FY2024 14.85%. Net margin FY2025 17.20%.

Income trends

Revenue

58.49B JPY+7.85%

Operating income

14.1B JPY+14.92%

Net income

10.06B JPY+24.94%
Income trends across reported periods63.71B JPY42.84B JPY21.98B JPY1.11B JPYRevenue, FY2021: 43.81B JPYRevenue, FY2022: 48.14B JPYRevenue, FY2023: 46.74B JPYRevenue, FY2024: 54.23B JPYRevenue, FY2025: 58.49B JPYOperating income, FY2021: 10.26B JPYOperating income, FY2022: 10.56B JPYOperating income, FY2023: 9.2B JPYOperating income, FY2024: 12.27B JPYOperating income, FY2025: 14.1B JPYNet income, FY2021: 6.91B JPYNet income, FY2022: 7.35B JPYNet income, FY2023: 6.33B JPYNet income, FY2024: 8.05B JPYNet income, FY2025: 10.06B JPYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 43.81B JPY. Revenue FY2022 48.14B JPY. Revenue FY2023 46.74B JPY. Revenue FY2024 54.23B JPY. Revenue FY2025 58.49B JPY. Operating income FY2021 10.26B JPY. Operating income FY2022 10.56B JPY. Operating income FY2023 9.2B JPY. Operating income FY2024 12.27B JPY. Operating income FY2025 14.1B JPY. Net income FY2021 6.91B JPY. Net income FY2022 7.35B JPY. Net income FY2023 6.33B JPY. Net income FY2024 8.05B JPY. Net income FY2025 10.06B JPY.
Metric (JPY)FY2025FY2024FY2023FY2022FY2021
Revenue58.49B JPY54.23B JPY46.74B JPY48.14B JPY43.81B JPY
Cost of goods sold36.39B JPY33.94B JPY30.46B JPY30.77B JPY27.22B JPY
Gross profit22.1B JPY20.29B JPY16.27B JPY17.38B JPY16.59B JPY
Research and development1.57B JPY1.53B JPY1.4B JPY1.3B JPY
Selling, general, and administrative6.56B JPY6.45B JPY5.54B JPY5.42B JPY5.04B JPY
Operating expenses8B JPY8.02B JPY7.08B JPY6.82B JPY6.34B JPY
Interest income36M JPY40M JPY31M JPY35M JPY26M JPY
Interest expense44M JPY18M JPY3M JPY5M JPY8M JPY
Depreciation and amortization3.3B JPY3.06B JPY2.99B JPY2.78B JPY
Operating income14.1B JPY12.27B JPY9.2B JPY10.56B JPY10.26B JPY
Net income10.06B JPY8.05B JPY6.33B JPY7.35B JPY6.91B JPY

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
44.01

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates63.4550.7938.1325.47Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Q4 2024, reported Oct 31, 2024: actual 28.09, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Feb 4, 2025: actual 37.43, estimate —, surprise —, Comparison unavailable. Q2 2025, reported May 9, 2025: actual 38.19, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 5, 2025: actual 43.42, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Oct 29, 2025: actual 31.04, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Feb 4, 2026: actual 33.9, estimate —, surprise —, Comparison unavailable. Q2 2026, reported May 11, 2026: actual 60.83, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Aug 5, 2026: actual 44.01, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates17.49B15.82B14.16B12.49BQ1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25MissQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 4, 2025: actual 14.04B JPY, estimate 13.9B JPY, surprise +1.01%, Beat. Q2 2025, reported May 9, 2025: actual 14.33B JPY, estimate 14.15B JPY, surprise +1.27%, Beat. Q3 2025, reported Aug 5, 2025: actual 15.15B JPY, estimate 13.8B JPY, surprise +9.79%, Beat. Q4 2025, reported Oct 29, 2025: actual 13.16B JPY, estimate 14.32B JPY, surprise -8.13%, Miss. Q1 2026, reported Feb 4, 2026: actual 14.31B JPY, estimate 14.15B JPY, surprise +1.13%, Beat. Q2 2026, reported May 11, 2026: actual 15.87B JPY, estimate 15.29B JPY, surprise +3.79%, Beat. Q3 2026, reported Aug 5, 2026: actual 16.66B JPY, estimate 15.65B JPY, surprise +6.44%, Beat. Q4 2026, reported Nov 4, 2026: actual —, estimate 16.82B JPY, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

¥75.00

2025 complete year+100.0% since 2021

2026 partial: ¥48.00

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Sep 30, 2026

¥44.00

Semi-Annual

Record Sep 30, 2026 · Payment Sep 30, 2026

DividendUpcoming

Ex-dividend Mar 30, 2027

¥48.00

Semi-Annual

Record Mar 31, 2027 · Payment Mar 30, 2027

Dividend

Ex-dividend Mar 30, 2026

¥48.00

Semi-Annual

Record Mar 31, 2026 · Payment Jun 26, 2026

Dividend

Ex-dividend Sep 29, 2025

¥37.00

Semi-Annual

Record Sep 30, 2025 · Payment Dec 2, 2025

Dividend

Ex-dividend Mar 28, 2025

¥38.00

Semi-Annual

Record Mar 31, 2025 · Payment Jun 27, 2025

Dividend

Ex-dividend Sep 27, 2024

¥30.00

Semi-Annual

Record Sep 30, 2024 · Payment Dec 3, 2024

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