Tokyo Electron: Expecting Revenue Acceleration And Margin Expansion

I rate Tokyo Electron as a 'Buy' after evaluating its results, outlook, and valuations. TOELY's Q4 FY26 results surprised positively, with a 9% YoY revenue increase and 50% earnings jump, driven by favorable product mix and catch-up in shipment delivery. The stock is now trading at a wide EV/EBITDA discount to its listed peers; a likely achievement of the 1HFY27 financial improvement targets could help to re-rate its shares.