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Makes petrochemicals, specialty chemicals, cement and diagnostic instruments.
Makes petrochemicals, specialty chemicals, cement and diagnostic instruments.
Rests on chlor-alkali, the salt-and-electricity process that gives caustic soda and chlorine, and on the plastics made from them, whose prices swing with the economic cycle. Alongside sits a specialty line of zirconia powders, laboratory chromatography media and hospital diagnostic instruments, sold on technical qualification rather than price.
In one line: A diversified chemicals maker like a smaller Celanese.
Moat: none (scale). Diversified but largely commodity-chemical producer with limited differentiation.
Headquarters: Tokyo, Japan · Founded: 1935 · Employees: 14,850
Size Tosoh (4042.T) is a Japan Materials company (Chemicals: Specialty) with a market value of $4.69B, the 255th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,322 on 6 Nov 2026.
Performance Over six months the shares fell 3.8%, against -17.1% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue fell 0.6% over the last twelve months (peer median +10.3%); the operating margin is 10.6% (peer median 11.6%).
Valuation It trades at 11.4× forward earnings against a peer median of 22.7× (4th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.1 points above its cost of capital (6.9% WACC).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.05T | ¥1.02T | ¥1.06T | ¥1.01T | ¥1.06T |
| Revenue growth | — | -4% | +6% | -6% | — |
| Gross profit | ¥279B | ¥256B | ¥254B | ¥222B | ¥216B |
| EBITDA | ¥159B | ¥144B | ¥146B | ¥124B | ¥118B |
| Net income | ¥54.5B | ¥41.6B | ¥58.0B | ¥57.3B | ¥50.3B |
| Free cash flow | ¥18.5B | ¥44.7B | ¥26.3B | ¥58.3B | -¥95.9B |
| Capital expenditure | ¥59.9B | ¥69.8B | ¥79.9B | ¥58.7B | ¥79.6B |
| Total debt | ¥282B | ¥235B | ¥185B | ¥183B | ¥183B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Tosoh 4042.T | $4.69B | -4% | -1% | 11% | 11.4× | -1.5% |
| Shin-etsu Chemical 4063.T | $66.5B | -27% | +5% | 25% | 17.2× | 8.9% |
| Mitsui Chemicals 4183.T | $4.08B | -9% | -3% | 6% | 10.7× | 1.9% |
| Celanese CE | $5.10B | -19% | +1% | 9% | 7.6× | 5.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 4042.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.2% | +1.2% | 5th lowest of 21 |
| 6-month return | -3.8% | -17.1% | 7th highest of 21 |
| Distance from 52-week high | -24.8% | -36.9% | 7th highest of 21 |
| Revenue growth (TTM) | -0.6% | +10.3% | 5th lowest of 21 |
| Operating margin | 10.6% | 11.6% | 11th highest of 21 |
| Forward P/E | 11.4× | 22.7× | 4th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -1.5% | 5.4% | 4th least demanding of 18 |
| Growth delivered (Del g) | +6.8% | +14.4% | 5th lowest of 18 |
| Hurdle (Req g minus delivered) | -8.3 pp | -3.6 pp | 7th least demanding of 18 |
| ROIC minus cost of capital | +0.1 pp | -0.6 pp | 10th highest of 21 |
| EV / EBITDA | 5.8× | 9.3× | 2nd cheapest of 10 |
| Net debt / EBITDA | 0.6× | 2.4× | 3rd least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tosoh 4042.T | Japan | $4.69B | -4% | -1% | 11% | 11.4× | -1.5% | +6.8% |
| Red Avenue New Materials 603650.SS | China | $4.70B | -12% | +24% | 9% | 40.7× | n/a | n/a |
| Dottikon ES DESN.SW | Switzerland | $4.72B | -24% | +11% | 27% | 37.6× | 12.6% | +14.4% |
| Zhejiang Sanmei Chemical Industry 603379.SS | China | $4.64B | -22% | +24% | 41% | 13.5× | 5.4% | +16.5% |
| Far Eastern New Century 1402.TW | Taiwan | $4.49B | +8% | 0% | 6% | 11.8× | 5.3% | +4.2% |
| Navin Fluorine International NAVINFLUOR.NS | India | $4.89B | +27% | +46% | 30% | 45.6× | 34.0% | +22.7% |
| Sumitomo Chemical 4005.T | Japan | $4.93B | -7% | -2% | 5% | 6.9× | 1.1% | +0.4% |
| GEM 002340.SZ | China | $4.43B | -36% | +2% | 7% | 15.7× | 4.2% | +24.4% |
| Guangxi Huaxi Nonferrous Metal 600301.SS | China | $4.33B | -15% | +24% | 32% | 22.9× | 9.2% | +44.9% |
| Clariant CLN.SW | Switzerland | $4.32B | +46% | -7% | 10% | 16.0× | -3.4% | +0.3% |
| Celanese CE | United States | $5.10B | -19% | +1% | 9% | 7.6× | 5.3% | +11.0% |
| Jiangsu Nata Opto-electronic Material 300346.SZ | China | $4.29B | -22% | +15% | 16% | 62.1× | 35.6% | +34.2% |
| Methanex MX.TO | Canada | $5.18B | +12% | +31% | 23% | 6.9× | -9.4% | +7.1% |
| Cathay Biotech 688065.SS | China | $4.22B | -19% | +9% | 18% | 38.8× | n/a | n/a |
| Hoshine Silicon Industry 603260.SS | China | $5.32B | -33% | -7% | -6% | 41.7× | 22.5% | +18.5% |
| Do-Fluoride New Materials 002407.SZ | China | $4.06B | -36% | +69% | 7% | 38.0× | 19.2% | +17.5% |
| Gujarat Fluorochemicals FLUOROCHEM.NS | India | $5.42B | +23% | +20% | 17% | 53.0× | n/a | n/a |
| Bluestar Adisseo 600299.SS | China | $3.97B | -35% | +15% | 13% | 11.8× | -8.6% | +7.7% |
| LB Group Co., Ltd. Class A 002601.SZ | China | $5.58B | -8% | +7% | 7% | 22.4× | 5.0% | +12.9% |
| Air Water 4088.T | Japan | $3.93B | +23% | +7% | 4% | 14.3× | 7.1% | +6.8% |
| IMEIK Technology Development 300896.SZ | China | $3.92B | -21% | -7% | 45% | 23.3× | 18.8% | +28.0% |