Toho Gas Co (NGO:9533) ROCE %: 5.76% (As of Mar. 2026)

What is Toho Gas Co ROCE %?

Toho Gas Co NGO:9533 74 ROCE % is 5.76% as of Mar. 2026. GuruFocus rates NGO:9533 with a GF Score™ of 74/100 and a GF Value™ of 円1,236.02. The stock has 3 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Toho Gas Co's annualized ROCE % for the quarter that ended in Mar. 2026 was 5.76%.

Toho Gas Co (NGO:9533) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Toho Gas Co ROCE % Related Terms

Toho Gas Co ROCE % Historical Data

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The historical data trend for Toho Gas Co's ROCE % 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.

Toho Gas Co ROCE % Chart

Toho Gas Co Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

ROCE %

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4.21

8.87

6.82

6.05

6.66

Toho Gas Co Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
ROCE %	Get a 7-Day Free Trial															4.54	14.62	3.35	3.68	5.76

74GF Score

Toho Gas Co Ltd NGO:9533

ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.

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Toho Gas Co ROCE % Calculation

Toho Gas Co's annualized ROCE % for the fiscal year that ended in Mar. 2026 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2026 )		(A: Mar. 2025 )		(A: Mar. 2026 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2026 )		(A: Mar. 2025 )		(A: Mar. 2026 )
	=	44529	/	( ( (758762 - 120291)	+	(809454 - 110100) )	/ 2 )
	=	44529	/	( (638471	+	699354)	/ 2 )
	=	44529	/	668912.5
	=	6.66 %

Toho Gas Co's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2026 )		(Q: Dec. 2025 )		(Q: Mar. 2026 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2026 )		(Q: Dec. 2025 )		(Q: Mar. 2026 )
	=	39236	/	( ( (776971 - 113996)	+	(809454 - 110100) )	/ 2 )
	=	39236	/	( ( 662975	+	699354 )	/ 2 )
	=	39236	/	681164.5
	=	5.76 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

Frequently Asked Questions Learn more about ROCE % →

What does a ROCE % of 5.76% mean?

Toho Gas Co (NGO:9533) has a ROCE % of 5.76% as of Mar. 2026.

Is Toho Gas Co's ROCE % too high?

Toho Gas Co's current ROCE % is 5.76%. The Utilities - Regulated industry median ROCE % is 6.91. Toho Gas Co's value of 5.76% is 16.6% below this industry median. Overall, Toho Gas Co has a GF Score™ of 74/100, reflecting its overall financial health beyond just this single metric.

How does Toho Gas Co's ROCE % compare to ATO and NI?

Toho Gas Co's ROCE % of 5.76% can be compared against companies in the Utilities - Regulated industry. The industry median ROCE % is 6.91. Toho Gas Co's value of 5.76% is 16.6% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good ROCE % for an Utilities - Regulated company?

The median ROCE % among Utilities - Regulated companies is 6.91, based on 504 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Toho Gas Co's current ROCE % of 5.76% is 16.6% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high ROCE % mean?

A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Utilities - Regulated industry, the median ROCE % is 6.91 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Toho Gas Co's current ROCE % is 5.76%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Toho Gas Co stock overvalued right now?

Toho Gas Co (NGO:9533) has a current ROCE % of 5.76%. The stock's GF Value™ is 円1,236.02, compared to a current price of 円1,296.00 — trading 4.9% above its estimated fair value. The current ROCE % is 5.76% and 16.6% below the Utilities - Regulated industry median of 6.91. Toho Gas Co's overall GF Score™ is 74/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is ROCE % calculated?

ROCE % is calculated from a company's financial statements. For Toho Gas Co (NGO:9533), the current ROCE % is 5.76% as of Mar. 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 Toho Gas Co (NGO:9533) Overvalued in 2026?

Based on GuruFocus' analysis, Toho Gas Co stock appears to be overvalued. The current stock price of 円1,296.00 is trading 4.9% above its estimated GF Value™ of 円1,236.02.

Key valuation signals for NGO:9533:

ROCE %: 5.76%
GF Value™: 円1,236.02 vs. price of 円1,296.00 (4.9% above fair value)
GF Score™: 74/100 with 3 warning signs
Industry Position: 16.6% below the Utilities - Regulated median

No single metric tells the full story. See the NGO:9533 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Toho Gas Co Business Description

Industry Utilities Utilities - Regulated

Comparable Companies TSE:8174 TSE:1663 TSE:9543 TSE:9536 TSE:9534 TSE:9539 TSE:9537 TSE:3361 TSE:9818 TSE:5974 XMAD:NTGY ATO MIL:SRG XTER:UN0 NI HKSE:00003 TSE:9531 TSE:9532 MIL:IG BOM:532155

Other Exchanges 9533:Japan 59W:Germany

Address 19-18 Sakuradacho, Atsuta-ku, Aichi Prefecture, Nagoya, JPN, 456-8511

Website https://www.tohogas.co.jp

Toho Gas Co Ltd is a Japan-based company engaged in the supply of energy and related services, including electricity, gas, and liquefied petroleum gas (LPG). The company operates in three business segments. The Electricity segment engages in the sale of electricity. The Gas segment handles the manufacture and sale of gas, gas appliances, consignment supply, and plumbing work. The LPG and Other Energies segment covers the sale of LPG, related equipment, natural gas, heat supply, and coke. The Others segment includes contract processing, real estate management, and other ancillary businesses. It generates the majority of its revenue from the Gas segment.

74GF Score

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ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円1,296.00

Price

円1,236.02

GF Value

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