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Toyota Motor

WBAG:TOM
Snowflake Description

Excellent balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TOM
WBAG
¥19,759B
Market Cap
  1. Home
  2. AT
  3. Automobiles
Company description

Toyota Motor Corporation designs, manufactures, assembles, and sells passenger vehicles, minivans and commercial vehicles, and related parts and accessories. The last earnings update was 64 days ago. More info.


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TOM Share Price and Events
7 Day Returns
3.4%
WBAG:TOM
6%
Europe Auto
3.4%
AT Market
1 Year Returns
-
WBAG:TOM
-11%
Europe Auto
-2%
AT Market
TOM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Toyota Motor (TOM) 3.4% 5.4% 1.1% - - -
Europe Auto 6% 8.6% 10.9% -11% 11.6% -5.7%
AT Market 3.4% 6% 10.1% -2% 43.4% 29.5%
1 Year Return vs Industry and Market
  • No trading data on TOM.
  • No trading data on TOM.
Price Volatility
TOM
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Toyota Motor undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Toyota Motor to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Toyota Motor.

WBAG:TOM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 23 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.4%
Perpetual Growth Rate 10-Year AT Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for WBAG:TOM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6%
Auto Unlevered Beta Simply Wall St/ S&P Global 0.57
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.575 (1 + (1- 30.86%) (102.37%))
0.987
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.99
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (0.987 * 5.96%)
6.39%

Discounted Cash Flow Calculation for WBAG:TOM using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Toyota Motor is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

WBAG:TOM DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 6.39%)
2019 1,567,530.23 Analyst x6 1,473,314.63
2020 1,928,888.10 Analyst x6 1,703,986.65
2021 2,117,973.79 Analyst x5 1,758,568.60
2022 1,912,158.92 Analyst x2 1,492,252.43
2023 1,778,280.92 Est @ -7% 1,304,362.35
2024 1,693,848.43 Est @ -4.75% 1,167,755.73
2025 1,640,143.46 Est @ -3.17% 1,062,769.00
2026 1,606,251.34 Est @ -2.07% 978,250.59
2027 1,585,474.66 Est @ -1.29% 907,560.32
2028 1,573,544.88 Est @ -0.75% 846,593.45
Present value of next 10 years cash flows ¥12,695,413.75
WBAG:TOM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ¥1,573,544.88 × (1 + 0.51%) ÷ (6.39% – 0.51%)
¥26,875,486.38
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥26,875,486.38 ÷ (1 + 6.39%)10
¥14,459,461.00
WBAG:TOM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥12,695,413.75 + ¥14,459,461.00
¥27,154,874.75
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥27,154,874.75 / 2,832.44
¥9587.09
WBAG:TOM Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in WBAG:TOM represents 0.00799x of TSE:7203
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00799x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 9,587.09 x 0.00799
€76.56
Value per share (EUR) From above. €76.56
Current discount Discount to share price of €55.71
= -1 x (€55.71 - €76.56) / €76.56
27.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Toyota Motor is available for.
Intrinsic value
27%
Share price is €55.71 vs Future cash flow value of €76.56
Current Discount Checks
For Toyota Motor to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Toyota Motor's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Toyota Motor's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Toyota Motor's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Toyota Motor's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:TOM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in JPY ¥653.33
TSE:7203 Share Price ** TSE (2019-04-18) in JPY ¥6976
Europe Auto Industry PE Ratio Median Figure of 17 Publicly-Listed Auto Companies 8.36x
Austria Market PE Ratio Median Figure of 51 Publicly-Listed Companies 14.73x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Toyota Motor.

WBAG:TOM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:7203 Share Price ÷ EPS (both in JPY)

= 6976 ÷ 653.33

10.68x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Toyota Motor is overvalued based on earnings compared to the Europe Auto industry average.
  • Toyota Motor is good value based on earnings compared to the Austria market.
Price based on expected Growth
Does Toyota Motor's expected growth come at a high price?
Raw Data
WBAG:TOM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.68x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 23 Analysts
9.2%per year
Europe Auto Industry PEG Ratio Median Figure of 10 Publicly-Listed Auto Companies 0.77x
Austria Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 1.34x

*Line of best fit is calculated by linear regression .

WBAG:TOM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.68x ÷ 9.2%

1.16x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Toyota Motor is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Toyota Motor's assets?
Raw Data
WBAG:TOM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in JPY ¥6,704.89
TSE:7203 Share Price * TSE (2019-04-18) in JPY ¥6976
Europe Auto Industry PB Ratio Median Figure of 24 Publicly-Listed Auto Companies 1.22x
Austria Market PB Ratio Median Figure of 59 Publicly-Listed Companies 1.27x
WBAG:TOM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:7203 Share Price ÷ Book Value per Share (both in JPY)

= 6976 ÷ 6,704.89

1.04x

* Primary Listing of Toyota Motor.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Toyota Motor is good value based on assets compared to the Europe Auto industry average.
X
Value checks
We assess Toyota Motor's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Auto industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Auto industry average (and greater than 0)? (1 check)
  5. Toyota Motor has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Toyota Motor expected to perform in the next 1 to 3 years based on estimates from 23 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Toyota Motor expected to grow at an attractive rate?
  • Toyota Motor's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Toyota Motor's earnings growth is expected to exceed the Austria market average.
  • Toyota Motor's revenue growth is positive but not above the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:TOM Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:TOM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 23 Analysts 9.2%
WBAG:TOM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 23 Analysts 2.1%
Europe Auto Industry Earnings Growth Rate Market Cap Weighted Average 6.7%
Europe Auto Industry Revenue Growth Rate Market Cap Weighted Average 3%
Austria Market Earnings Growth Rate Market Cap Weighted Average 9%
Austria Market Revenue Growth Rate Market Cap Weighted Average 2.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
WBAG:TOM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 23 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:TOM Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-03-31 32,648,500 4,945,500 2,755,000 2
2022-03-31 32,272,098 4,159,000 2,639,966 4
2021-03-31 31,104,546 3,881,412 2,481,466 19
2020-03-31 30,430,698 3,689,314 2,341,372 23
2019-03-31 29,938,671 3,226,520 1,993,732 23
WBAG:TOM Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2018-12-31 30,058,084 4,232,898 1,889,950
2018-09-30 29,862,309 3,997,941 2,651,508
2018-06-30 29,694,637 3,961,660 2,525,318
2018-03-31 29,379,510 4,210,009 2,481,692
2017-12-31 29,239,447 4,096,830 2,399,915
2017-09-30 28,717,867 3,878,117 1,945,221
2017-06-30 28,055,686 3,308,389 1,881,281
2017-03-31 27,597,193 3,414,237 1,821,314
2016-12-31 27,126,468 3,556,272 1,850,172
2016-09-30 27,382,163 4,077,710 1,992,230
2016-06-30 28,004,583 4,515,695 2,210,229
2016-03-31 28,403,118 4,460,857 2,306,607

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Toyota Motor's earnings are expected to grow by 9.2% yearly, however this is not considered high growth (20% yearly).
  • Toyota Motor's revenue is expected to grow by 2.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WBAG:TOM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 23 Analyst Estimates (S&P Global) See Below

All data from Toyota Motor Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:TOM Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-03-31 933.40 933.40 933.40 1.00
2022-03-31 890.40 900.30 880.50 2.00
2021-03-31 873.88 996.00 776.90 20.00
2020-03-31 814.41 919.19 689.70 24.00
2019-03-31 679.75 812.55 529.70 23.00
WBAG:TOM Past Financials Data
Date (Data in JPY Millions) EPS *
2018-12-31 653.33
2018-09-30 910.49
2018-06-30 861.60
2018-03-31 842.00
2017-12-31 810.33
2017-09-30 653.55
2017-06-30 628.65
2017-03-31 605.47
2016-12-31 611.01
2016-09-30 652.70
2016-06-30 716.73
2016-03-31 741.36

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Toyota Motor is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Toyota Motor's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Toyota Motor has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Toyota Motor performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Toyota Motor's growth in the last year to its industry (Auto).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Toyota Motor's year on year earnings growth rate has been positive over the past 5 years.
  • Toyota Motor's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Toyota Motor's 1-year earnings growth is negative, it can't be compared to the Europe Auto industry average.
Earnings and Revenue History
Toyota Motor's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Toyota Motor Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:TOM Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 30,058,084.00 1,889,950.00 3,083,195.00
2018-09-30 29,862,309.00 2,651,508.00 3,039,915.00
2018-06-30 29,694,637.00 2,525,318.00 3,062,141.00
2018-03-31 29,379,510.00 2,481,692.00 3,090,495.00
2017-12-31 29,239,447.00 2,399,915.00 3,040,090.00
2017-09-30 28,717,867.00 1,945,221.00 2,984,052.00
2017-06-30 28,055,686.00 1,881,281.00 2,921,077.00
2017-03-31 27,597,193.00 1,821,314.00 2,868,485.00
2016-12-31 27,126,468.00 1,850,172.00 2,853,414.00
2016-09-30 27,382,163.00 1,992,230.00 2,906,154.00
2016-06-30 28,004,583.00 2,210,229.00 2,936,857.00
2016-03-31 28,403,118.00 2,306,607.00 2,943,682.00
2015-12-31 28,550,277.00 2,328,267.00 2,838,046.00
2015-09-30 28,380,412.00 2,302,154.00 2,796,720.00
2015-06-30 27,831,481.00 2,231,958.00 2,713,978.00
2015-03-31 27,234,521.00 2,173,338.00 2,642,281.00
2014-12-31 26,684,996.00 2,023,895.00 2,737,346.00
2014-09-30 26,100,023.00 1,949,332.00 2,685,340.00
2014-06-30 25,827,280.00 1,848,699.00 2,631,762.00
2014-03-31 25,691,911.00 1,823,119.00 2,598,660.00
2013-12-31 24,959,615.00 1,840,067.00 2,248,869.00
2013-09-30 23,693,323.00 1,414,517.00 2,207,466.00
2013-06-30 22,817,938.00 1,234,010.00 2,106,394.00
2013-03-31 22,064,192.00 962,163.00 2,012,309.00
2012-12-31 21,929,632.00 769,217.00 2,079,331.00
2012-09-30 21,476,085.00 750,247.00 1,944,278.00
2012-06-30 20,644,176.00 572,746.00 1,902,914.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Toyota Motor has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Toyota Motor used its assets less efficiently than the Europe Auto industry average last year based on Return on Assets.
  • Toyota Motor's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Toyota Motor's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Auto industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Toyota Motor has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Toyota Motor's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Toyota Motor's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Toyota Motor is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Toyota Motor's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Toyota Motor's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Toyota Motor Company Filings, last reported 3 months ago.

WBAG:TOM Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 19,781,104.00 20,228,117.00 5,265,020.00
2018-09-30 20,213,542.00 20,885,496.00 5,869,949.00
2018-06-30 19,630,946.00 20,240,450.00 5,545,087.00
2018-03-31 19,430,102.00 19,541,110.00 4,884,806.00
2017-12-31 19,681,489.00 20,364,476.00 5,790,801.00
2017-09-30 18,916,637.00 19,896,017.00 5,886,531.00
2017-06-30 18,537,326.00 19,577,583.00 5,926,611.00
2017-03-31 18,183,076.00 19,381,265.00 4,841,608.00
2016-12-31 17,905,651.00 19,446,199.00 5,243,687.00
2016-09-30 16,958,812.00 16,861,060.00 5,257,994.00
2016-06-30 16,956,193.00 17,134,780.00 5,997,029.00
2016-03-31 17,608,407.00 18,516,273.00 4,657,609.00
2015-12-31 18,147,865.00 19,900,407.00 5,329,761.00
2015-09-30 17,870,669.00 19,502,731.00 5,575,664.00
2015-06-30 18,069,967.00 19,667,125.00 4,901,646.00
2015-03-31 17,647,329.00 19,331,310.00 4,140,338.00
2014-12-31 17,128,149.00 19,250,175.00 4,540,589.00
2014-09-30 16,236,532.00 17,810,741.00 4,626,037.00
2014-06-30 15,458,288.00 16,631,514.00 4,398,107.00
2014-03-31 15,218,987.00 16,493,565.00 3,386,645.00
2013-12-31 14,883,462.00 16,579,386.00 3,610,675.00
2013-09-30 14,015,049.00 15,367,344.00 3,909,638.00
2013-06-30 13,550,706.00 14,713,818.00 3,631,810.00
2013-03-31 12,772,856.00 14,294,030.00 2,457,056.00
2012-12-31 11,815,953.00 13,046,524.00 2,799,052.00
2012-09-30 11,265,274.00 11,725,274.00 3,064,720.00
2012-06-30 11,027,593.00 11,726,627.00 3,058,498.00
  • Toyota Motor's level of debt (102.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (111.4% vs 102.3% today).
  • Debt is well covered by operating cash flow (20.9%, greater than 20% of total debt).
  • Toyota Motor earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Toyota Motor's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Toyota Motor has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Toyota Motor's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.15%
Current annual income from Toyota Motor dividends. Estimated to be 3.66% next year.
If you bought €2,000 of Toyota Motor shares you are expected to receive €63 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Toyota Motor's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.44%).
  • Toyota Motor's dividend is below the markets top 25% of dividend payers in Austria (4.62%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
WBAG:TOM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 23 Analyst Estimates (S&P Global) See Below
Europe Auto Industry Average Dividend Yield Market Cap Weighted Average of 12 Stocks 4.2%
Austria Market Average Dividend Yield Market Cap Weighted Average of 49 Stocks 3.4%
Austria Minimum Threshold Dividend Yield 10th Percentile 1.1%
Austria Bottom 25% Dividend Yield 25th Percentile 1.4%
Austria Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

WBAG:TOM Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2023-03-31 290.00 2.00
2022-03-31 270.00 4.00
2021-03-31 260.00 19.00
2020-03-31 245.05 21.00
2019-03-31 223.28 20.00
WBAG:TOM Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2018-05-14 220.000 3.203
2017-06-23 210.000 3.080
2017-05-10 210.000 3.537
2016-11-08 210.000 3.275
2016-06-24 210.000 3.603
2016-05-11 210.000 3.779
2015-06-24 200.000 2.883
2015-05-08 200.000 2.388
2014-06-24 200.000 2.865
2014-05-08 200.000 3.494
2014-02-28 130.000 2.312
2014-02-04 130.000 2.212
2013-11-29 130.000 2.100
2013-11-06 130.000 2.057
2013-06-24 120.000 1.921
2013-05-08 120.000 1.999
2012-11-05 60.000 1.395
2012-06-25 50.000 1.612
2012-05-09 50.000 1.632
2011-11-08 50.000 1.707
2011-05-11 50.000 1.701
2011-03-18 45.000 1.381
2010-06-25 45.000 1.412
2010-05-11 45.000 1.356
2010-02-12 40.000 1.126
2010-02-04 40.000 1.194
2009-11-12 40.000 1.075
2009-11-05 40.000 1.145
2009-05-08 100.000 2.681
2009-04-20 140.000 3.646

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Toyota Motor's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Toyota Motor's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Toyota Motor afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Toyota Motor has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Toyota Motor's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Akio Toyoda
COMPENSATION ¥379,000,000
AGE 62
TENURE AS CEO 9.8 years
CEO Bio

Mr. Akio Toyoda has been the Chief Executive Officer of Toyota Motor Corporation (TMC) since June 23, 2009, President since 2009 and is its Chief Branding Officer. Mr. Toyoda is Chairman and CEO of Toyota Motor North America, Inc. He served as Chief Officer of the Electric Vehicle (EV) Business Planning Department at Toyota Motor Corporation since December 1, 2016 until July 28, 2017. He serves as a Senior Adviser of Toyota Media Service Corporation. He has been the President of Hitachi Ltd and Honda Motor Co. since March 2009. He serves as an Auditor of Toyota Boshoku Corporation. served as the Chief Executive Officer and President of Toyota South Africa Motors (Pty) Ltd until April 1, 2016. He served as an Executive Vice President at Toyota Motor Corporation from January 21, 2005 to June 2009, Senior Managing Director and Chief of Asia & China Operations Officer since 2003 and also served as its Division General Manager of Taiwan & China Offices. He joined TMC in 1984 and was its Managing Director since 2002. He served as Vice President of New United Motor Manufacturing Inc. He served as an Auditor of Shiroki Corporation. He served as a Corporate Auditor at JTEKT Corporation. He is Chairman of TOWA REAL ESTATE Co., Ltd., Nagoya Grampus Eight Inc. and Toyota Alvark Tokyo Corporation. He served as the Chairman of Japan Automobile Manufacturers Association Inc., since March 15, 2012. He served as the Chairman of Guangqi Toyota Engine Ltd. since April 1, 2004. He serves as a Vice Chairman of Gamagori Marine Development Co., Ltd. He has been a Representative Director at Toyota Motor Corporation since June 2000. He served as a Director of Toyota Media Service Corporation and Japan Automobile Manufacturers Association Inc. He served as a Director of Guangqi Toyota Engine Ltd. since April 1, 2004. He served as a Director at Aisin AW Co., Ltd. Mr. Toyoda holds a Master's degree in Business Administration from Babson College in the U.S. Mr. Toyoda is also a beneficial owner at SPARX Group Co., Ltd.

CEO Compensation
  • Akio's compensation has been consistent with company performance over the past year.
  • Insufficient data for Akio to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure and age of the Toyota Motor management team in years:

6.5
Average Tenure
63
Average Age
  • The average tenure for the Toyota Motor management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Akio Toyoda

TITLE
CEO, Chief Branding Officer
COMPENSATION
¥379M
AGE
62
TENURE
9.8 yrs

Didier Leroy

TITLE
Chief Competitive Officer
COMPENSATION
¥1B
AGE
61
TENURE
7.3 yrs

Shigeki Terashi

TITLE
Chief Safety Technology Officer
COMPENSATION
¥124M
AGE
63
TENURE
6 yrs

Koji Kobayashi

TITLE
CFO, Chief Risk Officer
AGE
70

Kenta Kon

TITLE
Concurrent GM of Accounting Div. and Executive VP of Advanced R&D and Engineering Company

Tatsuro Ueda

TITLE
Senior Managing Officer & Chief Officer of General Administration & Human Resources Group
AGE
57
TENURE
4 yrs

Chris Reynolds

TITLE
Managing Officer & Chief Legal Officer
AGE
55
TENURE
4 yrs

Tag Taguchi

TITLE
Senior Managing Officer
AGE
67
TENURE
2 yrs

Jim Lentz

TITLE
Senior Managing Officer & CEO of North America Region
AGE
63
TENURE
13.8 yrs

Hiroji Onishi

TITLE
Senior Managing Officer
AGE
65
TENURE
7 yrs
Board of Directors Tenure

Average tenure and age of the Toyota Motor board of directors in years:

4.8
Average Tenure
68.5
Average Age
  • The tenure for the Toyota Motor board of directors is about average.
Board of Directors

Takeshi Uchiyamada

TITLE
Chairman of the Board
COMPENSATION
¥181M
AGE
72
TENURE
5.8 yrs

Akio Toyoda

TITLE
CEO, Chief Branding Officer
COMPENSATION
¥379M
AGE
62
TENURE
18.8 yrs

Shigeru Hayakawa

TITLE
Vice Chairman
COMPENSATION
¥108M
AGE
65
TENURE
2 yrs

Shoichiro Toyoda

TITLE
Honorary Chairman
AGE
93

Didier Leroy

TITLE
Chief Competitive Officer
COMPENSATION
¥1B
AGE
61
TENURE
3.8 yrs

Shigeki Terashi

TITLE
Chief Safety Technology Officer
COMPENSATION
¥124M
AGE
63
TENURE
5.8 yrs

Koji Kobayashi

TITLE
CFO, Chief Risk Officer
AGE
70
TENURE
0.8 yrs

Koei Saga

TITLE
Senior Managing Officer
AGE
67
TENURE
3 yrs

Yoshi Inaba

TITLE
Executive Advisor and Executive Chairman of Toyota Motor Sales
COMPENSATION
¥125M
AGE
72
TENURE
6 yrs

Alexis Herman

TITLE
Chairman of North American Diversity Advisory Board
AGE
70
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Toyota Motor's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Toyota Motor has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Toyota Motor Corporation designs, manufactures, assembles, and sells passenger vehicles, minivans and commercial vehicles, and related parts and accessories. It operates through Automotive, Financial Services, and All Other segments. The company offers hybrid cars under the Prius, Alphard, Vellfire, Sienta, RX-HV, Auris, Prius PHV, C-HR, LC, Camry, JPN TAXI, Avalon, Corolla HB, Crown, and Century names; fuel cell vehicles under the MIRAI and SORA names; and conventional engine vehicles, including subcompact and compact cars under the Corolla, Yaris, Vitz, Aygo, Prius C, Aqua, Passo, Roomy, Tank, Etios, Vios, AGYA, Rush, and Yaris iA names. It also provides mini-vehicles, passenger vehicles, commercial vehicles, and auto parts under the Toyota name; mid-size cars under the Camry, REIZ, and Avensis names; luxury cars under the Lexus, Avalon, and Crown names; Century limousines; sports cars under the 86, Scion FR-S, RC coupe, and LC names; and sport-utility vehicles under the Sequoia, 4Runner, RAV4, Highlander, FJ Cruiser, and Land Cruiser names. In addition, the company offers pickup trucks under the Tacoma and Tundra names; minivans under the Alphard, Vellfire, Noah/Voxy, Esquire, Calya, Estima, Sienta, and Sienna names; large, medium, and small trucks; and large, medium, small, and micro-buses. Further, it provides financial services, such as retail financing and leasing, wholesale financing, insurance, and credit cards; and manufactures and sells prefabricated housing. Additionally, the company engages in the information technology related businesses comprising operation of a Web portal for automobile information known as GAZOO.com. It operates in Japan, North America, Europe, Asia, Central and South America, Oceania, Africa, and the Middle East. The company was founded in 1933 and is headquartered in Toyota, Japan.

Details
Name: Toyota Motor Corporation
TOM
Exchange: WBAG
Founded: 1933
¥157,056,031,882
2,832,442,328
Website: http://www.toyota.co.jp
Address: Toyota Motor Corporation
1 Toyota-cho,
Toyota,
Aichi, 471-8571,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 7203 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1975
OTCPK TOYO.F Common Stock Pink Sheets LLC US USD 06. Jan 1975
DB TOM Common Stock Deutsche Boerse AG DE EUR 06. Jan 1975
LSE TYT Common Stock London Stock Exchange GB JPY 06. Jan 1975
WBAG TOM Common Stock Wiener Boerse AG AT EUR 06. Jan 1975
NYSE TM Depositary Receipt New York Stock Exchange US USD 02. Jan 1980
BASE TM CEDEAR EACH 5 REP 1 ADR Buenos Aires Stock Exchange AR ARS 19. Jul 2001
DB TOMA Depositary Receipt Deutsche Boerse AG DE EUR 02. Jan 1980
BMV TM N Depositary Receipt Bolsa Mexicana de Valores MX MXN 02. Jan 1980
Number of employees
Current staff
Staff numbers
369,124
Toyota Motor employees.
Industry
Automobile Manufacturers
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 22:53
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/18
Last earnings filing: 2019/02/13
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.