Tokai Carbon Ratios and Metrics

Market cap in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 4, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	216,923	206,931	195,712	218,631	228,759	257,523
Market Cap Growth	20.40%	5.73%	-10.48%	-4.43%	-11.17%	-6.35%
Enterprise Value	368,596	372,031	332,272	356,970	362,144	382,036
Last Close Price	1016.00	969.20	889.58	962.70	976.38	1069.29
PE Ratio	10.80	10.31	-	8.59	10.20	15.99
Forward PE	13.24	11.19	11.25	10.20	9.52	8.98
PS Ratio	0.67	0.64	0.56	0.60	0.67	1.00
PB Ratio	0.61	0.59	0.60	0.61	0.76	1.00
P/TBV Ratio	0.84	0.81	0.88	1.05	1.53	2.43
P/FCF Ratio	22.83	21.78	17.93	13.08	-	28.25
P/OCF Ratio	4.29	4.09	3.04	3.52	5.55	6.76
PEG Ratio	-	-	2.29	1.06	0.35	0.04
EV/Sales Ratio	1.14	1.15	0.95	0.98	1.06	1.48
EV/EBITDA Ratio	6.31	6.37	5.44	4.70	4.79	7.01
EV/EBIT Ratio	14.26	14.39	17.14	9.22	8.92	15.50
EV/FCF Ratio	38.79	39.15	30.44	21.36	-	41.90
Debt / Equity Ratio	0.59	0.59	0.61	0.46	0.57	0.66
Debt / EBITDA Ratio	3.55	3.55	3.26	2.19	2.27	3.09
Debt / FCF Ratio	21.82	21.82	18.24	9.97	-	18.45
Net Debt / Equity Ratio	0.33	0.33	0.33	0.25	0.33	0.35
Net Debt / EBITDA Ratio	2.01	2.01	1.75	1.17	1.33	1.64
Net Debt / FCF Ratio	12.33	12.33	9.79	5.34	-36.11	9.81
Asset Turnover	0.50	0.50	0.55	0.60	0.63	0.53
Inventory Turnover	2.51	2.51	2.57	2.52	2.83	2.76
Quick Ratio	1.23	1.23	1.08	1.04	0.93	1.04
Current Ratio	2.04	2.04	1.83	1.92	1.68	1.65
Return on Equity (ROE)	6.87%	6.87%	-15.45%	8.70%	9.80%	8.35%
Return on Assets (ROA)	2.48%	2.48%	1.89%	3.98%	4.66%	3.17%
Return on Invested Capital (ROIC)	4.21%	4.31%	4.40%	6.23%	7.05%	6.41%
Return on Capital Employed (ROCE)	4.80%	4.80%	3.90%	7.70%	9.40%	6.50%
Earnings Yield	9.26%	9.70%	-28.99%	11.65%	9.80%	6.25%
FCF Yield	4.38%	4.59%	5.58%	7.64%	-1.22%	3.54%
Dividend Yield	3.06%	3.09%	3.37%	3.74%	3.07%	2.81%
Payout Ratio	31.90%	31.90%	-	27.62%	28.53%	39.71%
Buyback Yield / Dilution	-0.07%	-0.07%	-0.06%	-0.01%	-0.01%	-0.01%
Total Shareholder Return	2.79%	3.02%	3.31%	3.73%	3.07%	2.80%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.