Tokyo Gas Co.Ltd (TOG) - Net Assets
Based on the latest financial reports, Tokyo Gas Co.Ltd (TOG) has net assets worth €1.66 Trillion EUR as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€3.67 Trillion) and total liabilities (€2.01 Trillion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €1.66 Trillion |
| % of Total Assets | 45.16% |
| Annual Growth Rate | 5.22% |
| 5-Year Change | 52.89% |
| 10-Year Change | 61.54% |
| Growth Volatility | 7.22 |
Tokyo Gas Co.Ltd - Net Assets Trend (2014–2025)
This chart illustrates how Tokyo Gas Co.Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Tokyo Gas Co.Ltd (2014–2025)
The table below shows the annual net assets of Tokyo Gas Co.Ltd from 2014 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | €1.80 Trillion | +3.94% |
| 2024-03-31 | €1.73 Trillion | +9.06% |
| 2023-03-31 | €1.59 Trillion | +26.48% |
| 2022-03-31 | €1.26 Trillion | +6.64% |
| 2021-03-31 | €1.18 Trillion | +1.64% |
| 2020-03-31 | €1.16 Trillion | -1.03% |
| 2019-03-31 | €1.17 Trillion | +2.00% |
| 2018-03-31 | €1.15 Trillion | +3.20% |
| 2017-03-31 | €1.11 Trillion | -0.21% |
| 2016-03-31 | €1.12 Trillion | +2.57% |
| 2015-03-31 | €1.09 Trillion | +5.61% |
| 2014-03-31 | €1.03 Trillion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tokyo Gas Co.Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 62.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €1.34 Trillion | 77.85% |
| Other Components | €382.26 Billion | 22.15% |
| Total Equity | €1.73 Trillion | 100.00% |
Tokyo Gas Co.Ltd Competitors by Market Cap
The table below lists competitors of Tokyo Gas Co.Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Whitecap Resources Inc.
TO:WCP
|
$12.23 Billion |
|
Okta Inc
NASDAQ:OKTA
|
$12.24 Billion |
|
Barito Pacific Tbk
JK:BRPT
|
$12.24 Billion |
|
DT Midstream Inc
NYSE:DTM
|
$12.24 Billion |
|
Solventum Corp.
NYSE:SOLV
|
$12.22 Billion |
|
Jazz Pharmaceuticals PLC
NASDAQ:JAZZ
|
$12.20 Billion |
|
Industrial Bank Of Korea
KO:024110
|
$12.19 Billion |
|
Gen Digital Inc.
NASDAQ:GEN
|
$12.19 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tokyo Gas Co.Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,695,747,000,000 to 1,725,444,000,000, a change of 29,697,000,000 (1.8%).
- Net income of 74,194,000,000 contributed positively to equity growth.
- Dividend payments of 28,531,000,000 reduced retained earnings.
- Share repurchases of 120,055,000,000 reduced equity.
- Other factors increased equity by 104,089,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €74.19 Billion | +4.3% |
| Dividends Paid | €28.53 Billion | -1.65% |
| Share Repurchases | €120.06 Billion | -6.96% |
| Other Changes | €104.09 Billion | +6.03% |
| Total Change | €- | 1.75% |
Book Value vs Market Value Analysis
This analysis compares Tokyo Gas Co.Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.01x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-03-31 | €2398.70 | €36.60 | x |
| 2018-03-31 | €2487.57 | €36.60 | x |
| 2019-03-31 | €2575.99 | €36.60 | x |
| 2020-03-31 | €2602.74 | €36.60 | x |
| 2021-03-31 | €2616.37 | €36.60 | x |
| 2022-03-31 | €2791.95 | €36.60 | x |
| 2023-03-31 | €3595.60 | €36.60 | x |
| 2024-03-31 | €4249.82 | €36.60 | x |
| 2025-03-31 | €4669.37 | €36.60 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tokyo Gas Co.Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 4.30%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.81%
- • Asset Turnover: 0.68x
- • Equity Multiplier: 2.23x
- Recent ROE (4.30%) is below the historical average (8.00%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | 10.72% | 5.13% | 0.97x | 2.15x | €7.27 Billion |
| 2015 | 8.96% | 4.18% | 1.02x | 2.11x | €-11.12 Billion |
| 2016 | 10.17% | 5.94% | 0.84x | 2.05x | €1.91 Billion |
| 2017 | 4.82% | 3.35% | 0.71x | 2.02x | €-57.02 Billion |
| 2018 | 6.60% | 4.22% | 0.76x | 2.06x | €-38.62 Billion |
| 2019 | 7.30% | 4.31% | 0.81x | 2.09x | €-31.35 Billion |
| 2020 | 3.78% | 2.25% | 0.76x | 2.21x | €-71.40 Billion |
| 2021 | 4.29% | 2.80% | 0.64x | 2.37x | €-65.88 Billion |
| 2022 | 7.23% | 4.14% | 0.67x | 2.62x | €-33.97 Billion |
| 2023 | 18.03% | 8.54% | 0.92x | 2.30x | €125.08 Billion |
| 2024 | 9.76% | 6.22% | 0.68x | 2.29x | €-4.09 Billion |
| 2025 | 4.30% | 2.81% | 0.68x | 2.23x | €-98.35 Billion |
Industry Comparison
This section compares Tokyo Gas Co.Ltd's net assets metrics with peer companies in the Utilities - Regulated Gas industry.
Industry Context
- Industry: Utilities - Regulated Gas
- Average net assets among peers: $112,421,302,619
- Average return on equity (ROE) among peers: 4.45%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tokyo Gas Co.Ltd (TOG) | €1.66 Trillion | 10.72% | 1.21x | $12.23 Billion |
| SHANGH.DAZ.PUBL.UTIL.YC 1 (6WL) | $10.04 Billion | 2.32% | 1.29x | $214.62 Million |
| 7RN (7RN) | $4.05 Billion | 4.83% | 1.18x | $2.54 Billion |
| AB AMBER GRID EO 029 (AMH) | $183.80 Million | 8.52% | 1.98x | $210.36 Million |
| Ops Italia S.p.A. (E2Y0) | $997.00K | -28.79% | 1.71x | $1.92 Million |
| China Gas Holdings Limited (EBZ0) | $72.07 Billion | 10.63% | 1.26x | $4.37 Billion |
| The Hong Kong and China Gas Company Limited (HCG) | $79.15 Billion | 7.73% | 0.90x | $15.56 Billion |
| Chinese People Holdings Company Limited (KEH) | $2.94 Billion | 5.71% | 0.22x | $31.34 Million |
| China Resources Gas Group Limited (LGX1) | $35.36 Billion | 14.26% | 1.29x | $5.31 Billion |
| New Jersey Resources Corporation (NJ1) | $1.55 Billion | 10.92% | 1.82x | $4.50 Billion |
| Osaka Gas Co. Ltd (OSA) | $918.87 Billion | 8.35% | 1.03x | $11.31 Billion |
About Tokyo Gas Co.Ltd
Tokyo Gas Co.,Ltd. engages in the production, supply, and sale of city gas and LNG in Japan. It operates through Energy Solutions, Network, Overseas, and Urban development segments. The company is involved in the production, supply, and sale of electricity; provision of engineering solutions and energy services, as well as transmission service of city gas; and trading activities. It also provides… Read more