Think of Enterprise Value as the theoretical takeover price. It is more comprehensive than market capitalization (Market Cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, Tokaido REIT's Enterprise Value is 円71,485 Mil.
Tokaido REIT's EBIT for the trailing twelve months (TTM) ended in Jan. 2026 was 円2,536 Mil. Therefore, Tokaido REIT's EV-to-EBIT ratio for today is 28.19.
EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA. As of today, Tokaido REIT's Enterprise Value is 円71,485 Mil.
Tokaido REIT's EBITDA for the trailing twelve months (TTM) ended in Jan. 2026 was 円3,024 Mil. Therefore, Tokaido REIT's EV-to-EBITDA ratio for today is 23.64.
EV-to-Revenue is calculated as Enterprise Value divided by its Revenue. As of today, Tokaido REIT's Enterprise Value is 円71,485 Mil.
Tokaido REIT's Revenue for the trailing twelve months (TTM) ended in Jan. 2026 was 円4,622 Mil. Therefore, Tokaido REIT's EV-to-Revenue ratio for today is 15.46.
EV-to-FCF is calculated as Enterprise Value divided by its Free Cash Flow. As of today, Tokaido REIT's Enterprise Value is 円71,485 Mil.
Tokaido REIT's Free Cash Flow for the trailing twelve months (TTM) ended in Jan. 2026 was 円-5,086 Mil. Therefore, Tokaido REIT's EV-to-FCF ratio for today is -14.06.
*** Please note that the current Enterprise Value is calculated using the current market capitalization and the most recently available financial data. If key financial fields—Long-Term Debt & Capital Lease Obligation and Short-Term Debt & Capital Lease Obligation—are recorded as null in the latest reporting period, our data vendor will default to using data from the prior period with valid entries.
Tokaido REIT (TSE:2989) Enterprise Value Explanation
When an investor buy a company, the investor needs to pay not only the common shares, he/she also needs to pay the shareholders of Preferred Stocks. He also assumes the debt of the company, and receives the cash on the company's balance sheet.
If a company has more cash than debt, the investor actually pays less than the Market Cap because he immediately owns the cash once the transaction goes through.
The market value of Preferred Stock needs to be added to the market value of common stocks in the calculation of Enterprise Value.
For the companies with the same Market Cap, the smaller the Enterprise Value is, the cheaper the company is.
Enterprise Value can be negative when the company's net cash is more than its Market Cap. In this case the investor is basically getting the company for free and get paid for that.
1. EV-to-EBIT is calculated as Enterprise Value divided by its EBIT.
Tokaido REIT's current Enterprise Value is 円71,485 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. Tokaido REIT's EBIT for the trailing twelve months (TTM) ended in Jan. 2026 was 円2,536 Mil.
2. EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA.
Tokaido REIT's current Enterprise Value is 円71,485 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. Tokaido REIT's EBITDA for the trailing twelve months (TTM) ended in Jan. 2026 was 円3,024 Mil.
Tokaido REIT's current Enterprise Value is 円71,485 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. Tokaido REIT's Revenue for the trailing twelve months (TTM) ended in Jan. 2026 was 円4,622 Mil.
Tokaido REIT's current Enterprise Value is 円71,485 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. Tokaido REIT's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jan. 2026 was 円3,891 Mil.
Tokaido REIT's current Enterprise Value is 円71,485 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. Tokaido REIT's Free Cash Flow for the trailing twelve months (TTM) ended in Jan. 2026 was 円-5,086 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.
Tokaido REIT Enterprise Value Related Terms
Tokaido REIT Enterprise Value Historical Data
* Premium members only.
The historical data trend for Tokaido REIT's Enterprise Value 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.
TSE:2989 vs VICI, WPC: Enterprise Value Comparison
For the REIT - Diversified subindustry, Tokaido REIT's Enterprise Value, along with its competitors' market caps and Enterprise Value 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.
Tokaido REIT Enterprise Value vs REITs Industry
For the REITs industry and Real Estate sector, Tokaido REIT's Enterprise Value distribution charts can be found below:
* The bar in red indicates where Tokaido REIT's Enterprise Value falls into.
Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
Tokaido REIT's Enterprise Value for the fiscal year that ended in Jul. 2025 is calculated as
* 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.
Tokaido REIT (TSE:2989) has a Enterprise Value of 円71,485 Mil as of Jul. 03, 2026. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on Tokaido REIT and its competitors.
Is Tokaido REIT's Enterprise Value too high?
Tokaido REIT's current Enterprise Value is 円71,485 Mil. Overall, Tokaido REIT has a GF Score™ of 48/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tokaido REIT's Enterprise Value compare to VICI and WPC?
Tokaido REIT's Enterprise Value of 円71,485 Mil can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Enterprise Value for a REITs company?
A good Enterprise Value depends on the REITs industry context. However, Enterprise Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Enterprise Value mean?
A high Enterprise Value can signal that a stock is expensive relative to its fundamentals. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on Tokaido REIT and its competitors. Tokaido REIT's current Enterprise Value is 円71,485 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tokaido REIT stock overvalued right now?
Based on GuruFocus' analysis, Tokaido REIT (TSE:2989) is currently considered Modestly Undervalued. The stock's GF Value™ is 円129,440.66, compared to a current price of 円102,800.00 — trading 20.6% below its estimated fair value. The current Enterprise Value is 円71,485 Mil. Tokaido REIT's overall GF Score™ is 48/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Enterprise Value calculated?
Enterprise Value is calculated from a company's financial statements. For Tokaido REIT (TSE:2989), the current Enterprise Value is 円71,485 Mil as of Jul. 03, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Tokaido REIT (TSE:2989) Overvalued in 2026?
Based on GuruFocus' analysis, Tokaido REIT stock appears to be undervalued.
The current stock price of 円102,800.00 is trading 20.6% below its estimated GF Value™ of 円129,440.66.
GuruFocus considers Tokaido REIT to be Modestly Undervalued.
Key valuation signals for TSE:2989:
Enterprise Value: 円71,485 Mil
GF Value™: 円129,440.66 vs. price of 円102,800.00 (20.6% below fair value)
No single metric tells the full story. See the TSE:2989 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tokaido REIT Inc is a real estate investment trust that focuses on the Tokaido area, mainly Shizuoka, Aichi, and Mie prefectures. Its Investment targets are divided into two types including "Industrial infrastructure assets" targeting logistics facilities and office buildings, and "Living infrastructure assets" for residential and commercial facilities.
48GF Score
Get the complete analysis for TSE:2989
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