Token (TSE:1766) EBITDA: 円24,309 Mil (TTM As of Jan. 2026)

Token  (TSE:1766) EBITDA Explanation

EBITDA is a cash flow measure that ignores changes in working capital. EBITDA minus Depreciation, and Amortization (DA) equals Operating Income. Operating Income is profit before interest and taxes. Of course, Interest and taxes need to be paid.

While depreciation and amortization expenses do not need to be paid in cash, assets - especially tangible assets - do need to be replaced over time. EBITDA is not a measure of profit in any sense. EBITDA is a measure of cash generation by a business where the uses of that cash may be more or less discretionary depending on the nature of the business.

The EBITDA of a TV station is largely discretionary. Owners may use much of the EBITDA generated by a TV station as they see fit. The EBITDA of a railroad is largely non-discretionary. Owners must use much of the EBITDA generated by a railroad to replace the physical assets of the railroad or the business will literally fall apart over time.

EBITDA can be thought of as the cash a business generates that is available to:

EBITDA is widely used in financial analysis because Depreciation and Amortization are not present day cash expenses.. Depreciation and amortization are the spreading out of the costs of assets over the time in which those assets provide benefits. Today's depreciation and amortization expenses relate to assets bought in the past. The assets being expensed may or may not need to be replaced in the future. And the cost to replace the assets may be more or less than it was in the past. For this reason, the depreciation and amortization expenses a company records in the present year may have no relationship to the actual cash costs needed to maintain its assets in future years.

A company's depreciation expense depends on both its expectations about the assets it owns and its choice of accounting methods. Two companies owning identical assets may have different depreciation expenses because they have different expectations about the useful lives of those assets and because they make different accounting choices.

Analysts use EBITDA to remove this element of personal choice from a company's accounting statements. The use of EBITDA is an attempt to make the results of different companies more comparable and uniform.

Be Aware

Although depreciation is not a cash cost it is a real business cost because the company has to pay for the fixed assets when they purchase them. Both Warren Buffett and Charlie Munger hate the idea of EBITDA because in this calculation, depreciation is not counted as an expense.

EBITDA over Revenue is a good metric for comparing the operating efficiencies between companies because EBITDA is less vulnerable to companies' accounting choices. For this reason, EBITDA is used in ranking the Predictability of Companies. Also Price-to-EBITDA is sometimes used in valuations.

Token EBITDA Related Terms

The historical data trend for Token's EBITDA can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Token EBITDA Chart

Token Annual Data
	Trend	Apr17	Apr18	Apr19	Apr20	Apr21	Apr22	Apr23	Apr24	Apr25	Apr26
EBITDA		Get a 7-Day Free Trial					17,276.00	11,960.00	15,052.00	24,407.00	24,309.00

Token Quarterly Data
	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24	Apr24	Jul24	Oct24	Jan25	Apr25	Jul25	Oct25	Jan26	Apr26
EBITDA	Get a 7-Day Free Trial															7,738.00	5,617.00	6,198.00	4,386.00	8,108.00

TSE:1766 vs CBRE, BEKE, JLL: EBITDA Comparison

For the Real Estate Services subindustry, Token's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Token EV-to-EBITDA vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Token's EV-to-EBITDA distribution charts can be found below:

* The bar in red indicates where Token's EV-to-EBITDA falls into.

Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) is what the company earns before it expenses interest, taxes, depreciation and amortization.

Token's EBITDA for the fiscal year that ended in Apr. 2026 is calculated as

Token's EBITDA was directly provided by GuruFocus' data source Morningstar. For the fiscal year ended in Apr. 2026, Token's EBITDA was 円24,309 Mil.

Token's EBITDA for the quarter that ended in Jan. 2026 is calculated as

Token's EBITDA was directly provided by GuruFocus' data source Morningstar. For the quarter ended in Jan. 2026, Token's EBITDA was 円4,386 Mil.

EBITDA for the trailing twelve months (TTM) ended in Jan. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was 円24,309 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Sometimes companies may have already deducted Depreciation and Amortization from Gross Profit. In this case Depreciation and Amortization needs to be added back when calculating EBITDA.

Token Business Description