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Toyo Tire

DB:TYR
Snowflake Description

Adequate balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TYR
DB
¥218B
Market Cap
  1. Home
  2. DE
  3. Automobiles
Company description

Toyo Tire Corporation manufactures and sells tires in Japan and internationally. The last earnings update was 47 days ago. More info.


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TYR Share Price and Events
7 Day Returns
-7.1%
DB:TYR
-0.8%
DE Auto Components
-0.4%
DE Market
1 Year Returns
-8.1%
DB:TYR
-37.4%
DE Auto Components
-6.2%
DE Market
TYR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Toyo Tire (TYR) -7.1% 7.1% 14.3% -8.1% 25% -9.5%
DE Auto Components -0.8% -0.5% -6% -37.4% -25.1% -31%
DE Market -0.4% 0.7% 1.8% -6.2% 13.9% 7.5%
1 Year Return vs Industry and Market
  • TYR outperformed the Auto Components industry which returned -37.4% over the past year.
  • TYR underperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
TYR
Industry
5yr Volatility vs Market

TYR Value

 Is Toyo Tire 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 Toyo Tire 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 Toyo Tire.

DB:TYR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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 DB:TYR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Auto Components Unlevered Beta Simply Wall St/ S&P Global 1.2
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.205 (1 + (1- 30.86%) (52.32%))
1.429
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.43
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.429 * 5.96%)
8.75%

Discounted Cash Flow Calculation for DB:TYR using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Toyo Tire 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.

DB:TYR DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 8.75%)
2019 15,000.00 Analyst x1 13,793.71
2020 21,500.00 Analyst x2 18,181.03
2021 23,764.33 Analyst x3 18,479.73
2022 25,446.02 Est @ 7.08% 18,196.16
2023 26,723.90 Est @ 5.02% 17,573.15
2024 27,681.63 Est @ 3.58% 16,739.07
2025 28,394.99 Est @ 2.58% 15,789.61
2026 28,926.64 Est @ 1.87% 14,791.69
2027 29,325.54 Est @ 1.38% 13,789.73
2028 29,628.69 Est @ 1.03% 12,811.86
Present value of next 10 years cash flows ¥160,145.74
DB:TYR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ¥29,628.69 × (1 + 0.23%) ÷ (8.75% – 0.23%)
¥348,662.67
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥348,662.67 ÷ (1 + 8.75%)10
¥150,766.60
DB:TYR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥160,145.74 + ¥150,766.60
¥310,912.34
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥310,912.34 / 153.92
¥2019.91
DB:TYR Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:TYR represents 0.00803x of TSE:5105
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00803x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 2,019.91 x 0.00803
€16.22
Value per share (EUR) From above. €16.22
Current discount Discount to share price of €11.36
= -1 x (€11.36 - €16.22) / €16.22
30%

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

Current Discount
Amount off the current price Toyo Tire is available for.
Intrinsic value
30%
Share price is €11.36 vs Future cash flow value of €16.22
Current Discount Checks
For Toyo Tire to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Toyo Tire's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Toyo Tire'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 Toyo Tire's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Toyo Tire's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:TYR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in JPY ¥71.93
TSE:5105 Share Price ** TSE (2019-06-26) in JPY ¥1414
Germany Auto Components Industry PE Ratio Median Figure of 11 Publicly-Listed Auto Components Companies 14.88x
Germany Market PE Ratio Median Figure of 425 Publicly-Listed Companies 19.49x

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

** Primary Listing of Toyo Tire.

DB:TYR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:5105 Share Price ÷ EPS (both in JPY)

= 1414 ÷ 71.93

19.66x

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

  • Toyo Tire is overvalued based on earnings compared to the DE Auto Components industry average.
  • Toyo Tire is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Toyo Tire's expected growth come at a high price?
Raw Data
DB:TYR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 19.66x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
19.3%per year
Germany Auto Components Industry PEG Ratio Median Figure of 10 Publicly-Listed Auto Components Companies 0.63x
Germany Market PEG Ratio Median Figure of 271 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

DB:TYR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 19.66x ÷ 19.3%

1.02x

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

  • Toyo Tire is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Toyo Tire's assets?
Raw Data
DB:TYR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in JPY ¥1,348.28
TSE:5105 Share Price * TSE (2019-06-26) in JPY ¥1414
Germany Auto Components Industry PB Ratio Median Figure of 13 Publicly-Listed Auto Components Companies 1.29x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.8x
DB:TYR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:5105 Share Price ÷ Book Value per Share (both in JPY)

= 1414 ÷ 1,348.28

1.05x

* Primary Listing of Toyo Tire.

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

  • Toyo Tire is good value based on assets compared to the DE Auto Components industry average.
X
Value checks
We assess Toyo Tire'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 Components 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 Components industry average (and greater than 0)? (1 check)
  5. Toyo Tire has a total score of 2/6, 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.

TYR Future Performance

 How is Toyo Tire expected to perform in the next 1 to 3 years based on estimates from 8 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
19.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Toyo Tire expected to grow at an attractive rate?
  • Toyo Tire's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Toyo Tire's earnings growth is expected to exceed the Germany market average.
  • Toyo Tire's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:TYR Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:TYR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 19.3%
DB:TYR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 4.6%
Germany Auto Components Industry Earnings Growth Rate Market Cap Weighted Average 9.8%
Germany Auto Components Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*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
DB:TYR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:TYR Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 437,833 61,121 32,538 7
2020-12-31 417,955 52,380 29,531 8
2019-12-31 398,730 69,000 25,690 8
DB:TYR Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-03-31 389,622 9,458
2018-12-31 393,220 19,063 10,553
2018-09-30 394,804 15,056
2018-06-30 398,696 21,806 11,468
2018-03-31 400,662 16,326
2017-12-31 404,999 13,430 15,476
2017-09-30 397,944 -8,163
2017-06-30 387,237 30,553 -3,335
2017-03-31 384,384 -6,441
2016-12-31 381,635 38,865 -12,260
2016-09-30 385,768 13,576
2016-06-30 399,826 29,614 7,981

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Toyo Tire's earnings are expected to grow by 19.3% yearly, however this is not considered high growth (20% yearly).
  • Toyo Tire's revenue is expected to grow by 4.6% 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
DB:TYR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Toyo Tire Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TYR Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 208.91 233.08 180.87 8.00
2020-12-31 190.19 211.64 163.55 9.00
2019-12-31 170.71 181.82 165.50 8.00
DB:TYR Past Financials Data
Date (Data in JPY Millions) EPS *
2019-03-31 71.93
2018-12-31 83.10
2018-09-30 118.56
2018-06-30 90.30
2018-03-31 128.56
2017-12-31 121.86
2017-09-30 -64.28
2017-06-30 -26.26
2017-03-31 -50.72
2016-12-31 -96.54
2016-09-30 106.90
2016-06-30 62.84

*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.
  • Toyo Tire is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Toyo Tire'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 Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany 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.
Toyo Tire 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.

TYR Past Performance

  How has Toyo Tire 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 Toyo Tire's growth in the last year to its industry (Auto Components).
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.
  • Toyo Tire's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Toyo Tire's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Toyo Tire's 1-year earnings growth is negative, it can't be compared to the DE Auto Components industry average.
Earnings and Revenue History
Toyo Tire'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 Toyo Tire Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TYR Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 389,622.00 9,458.00 86,863.00
2018-12-31 393,220.00 10,553.00 87,495.00
2018-09-30 394,804.00 15,056.00 87,825.00
2018-06-30 398,696.00 11,468.00 88,128.00
2018-03-31 400,662.00 16,326.00 87,971.00
2017-12-31 404,999.00 15,476.00 87,431.00
2017-09-30 397,944.00 -8,163.00 84,540.00
2017-06-30 387,237.00 -3,335.00 83,717.00
2017-03-31 384,384.00 -6,441.00 82,614.00
2016-12-31 381,635.00 -12,260.00 82,795.00
2016-09-30 385,768.00 13,576.00 85,901.00
2016-06-30 399,826.00 7,981.00 86,799.00
2016-03-31 407,235.00 4,798.00 87,145.00
2015-12-31 407,789.00 1,674.00 86,239.00
2015-09-30 407,463.00 3,415.00 84,501.00
2015-06-30 400,862.00 11,815.00 83,077.00
2015-03-31 393,658.00 19,096.00 82,512.00
2014-12-31 393,782.00 31,240.00 81,528.00
2014-09-30 389,311.00 28,958.00 80,341.00
2014-06-30 384,461.00 17,831.00 78,572.00
2014-03-31 382,690.00 16,443.00 77,422.00
2013-12-31 370,218.00 11,596.00 75,026.00
2012-12-31 370,016.00 15,816.00 69,753.00
2012-09-30 374,847.00 9,095.00 72,151.00
2012-06-30 370,691.00 7,103.00 72,485.00

*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.
  • Toyo Tire has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Toyo Tire used its assets less efficiently than the DE Auto Components industry average last year based on Return on Assets.
  • Toyo Tire's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Toyo Tire'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 Components 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.
Toyo Tire has a total score of 0/6, 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.

TYR Health

 How is Toyo Tire'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 Toyo Tire's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Toyo Tire is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Toyo Tire's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Toyo Tire'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 covered by short term assets, assets are 1.9x 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 Toyo Tire Company Filings, last reported 2 months ago.

DB:TYR Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 212,381.00 113,867.00 47,637.00
2018-12-31 157,249.00 136,596.00 31,385.00
2018-09-30 165,122.00 137,662.00 31,934.00
2018-06-30 161,128.00 122,315.00 29,866.00
2018-03-31 159,542.00 123,064.00 30,161.00
2017-12-31 163,813.00 119,620.00 28,268.00
2017-09-30 155,410.00 131,733.00 33,056.00
2017-06-30 152,574.00 126,821.00 24,711.00
2017-03-31 145,094.00 135,810.00 37,115.00
2016-12-31 145,621.00 132,481.00 37,772.00
2016-09-30 152,537.00 141,268.00 36,908.00
2016-06-30 152,151.00 147,731.00 37,582.00
2016-03-31 165,176.00 168,996.00 47,644.00
2015-12-31 175,363.00 161,557.00 44,510.00
2015-09-30 166,566.00 166,972.00 43,359.00
2015-06-30 181,481.00 145,354.00 32,381.00
2015-03-31 180,398.00 149,772.00 34,855.00
2014-12-31 184,637.00 131,411.00 32,403.00
2014-09-30 163,872.00 131,463.00 32,026.00
2014-06-30 148,971.00 129,370.00 33,619.00
2014-03-31 142,489.00 136,566.00 33,368.00
2013-12-31 141,509.00 129,220.00 36,356.00
2012-12-31 106,632.00 132,073.00 19,577.00
2012-09-30 86,094.00 134,630.00 18,441.00
2012-06-30 84,926.00 137,621.00 19,772.00
  • Toyo Tire's level of debt (53.6%) 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 (95.7% vs 53.6% today).
  • Debt is not well covered by operating cash flow (16.7%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 88.5x coverage).
X
Financial health checks
We assess Toyo Tire'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. Toyo Tire has a total score of 4/6, 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.

TYR Dividends

 What is Toyo Tire'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
3.18%
Current annual income from Toyo Tire dividends. Estimated to be 3.48% next year.
If you bought €2,000 of Toyo Tire shares you are expected to receive €64 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?
  • Toyo Tire's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Toyo Tire's dividend is below the markets top 25% of dividend payers in Germany (3.88%).
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
DB:TYR 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 8 Analyst Estimates (S&P Global) See Below
Germany Auto Components Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 4.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 328 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

DB:TYR Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 53.38 8.00
2020-12-31 49.11 9.00
2019-12-31 45.56 9.00
DB:TYR Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-03-28 45.000 3.336
2019-02-15 45.000 3.347
2018-03-29 45.000 2.648
2018-02-15 45.000 2.405
2017-03-30 45.000 2.017
2017-02-15 45.000 2.395
2016-03-30 45.000 3.303
2016-02-15 45.000 2.586
2015-11-09 40.000 1.679
2015-08-10 50.000 1.898
2015-02-13 45.000 1.769
2014-11-12 40.000 1.651
2014-08-11 40.000 2.268
2014-05-09 30.000 1.679
2014-03-28 24.000 1.584
2013-08-09 18.000 1.484
2013-05-14 18.000 1.628
2013-03-28 14.000 1.480
2012-08-10 14.000 2.836
2012-06-28 14.000 2.967
2012-05-09 14.000 2.963
2012-02-06 10.000 2.289
2011-08-03 10.000 2.655
2011-06-29 10.000 2.356
2011-05-10 10.000 2.627
2011-02-04 10.000 2.447
2010-11-09 10.000 2.622
2010-08-03 10.000 2.893
2010-06-29 10.000 2.540
2010-05-10 10.000 2.429
2010-02-10 6.000 1.444
2010-02-03 6.000 1.562
2009-11-09 0.000 0.000
2009-08-07 0.000 0.000
2009-08-06 0.000 0.000
2009-06-26 0.000 0.000
2009-05-11 0.000 0.000

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

  • Toyo Tire has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Toyo Tire only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Toyo Tire's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x 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 Toyo Tire's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Toyo Tire afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Toyo Tire has a total score of 2/6, see the detailed checks below.


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

TYR Management

 What is the CEO of Toyo Tire'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
Takashi Shimizu
AGE 57
TENURE AS CEO 3.6 years
CEO Bio

Mr. Takashi Shimizu has been the President at Toyo Tire & Rubber Co., Ltd., since November 12, 2015 and serves as its Chief Executive Officer and its Chief Risk Management Officer, Chief Compliance Management Officer, General Manager of Seismic Isolation Rubber Division and Corporate Officer since January 7, 2016. Mr. Shimizu served as Senior Corporate Officer of Toyo Tire & Rubber Co., Ltd. from July 2015 to November 12, 2015. He serves as General Manager of Crisis Management Control, Compliance and Seismic Isolation Rubber Measures Division at Toyo Tire & Rubber Co., Ltd. He served as Corporate Officer atToyo Tire & Rubber Co., Ltd until July 2015. He served as the President of Toyo Tire Holdings of Americas Inc., until October 1, 2013. Mr. Shimizu has been a Representative Director at Toyo Tire & Rubber Co., Ltd., since June 30, 2015. He was a Non-Executive Director of Toyo Tyre & Rubber Australia Limited since April 7, 2015 until November 12, 2015.

CEO Compensation
  • Insufficient data for Takashi to compare compensation growth.
  • Insufficient data for Takashi to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure of the Toyo Tire management team in years:

3.6
Average Tenure
  • The tenure for the Toyo Tire management team is about average.
Management Team

Takashi Shimizu

TITLE
CEO, President
AGE
57
TENURE
3.6 yrs

Tomoshige Mizutani

TITLE
Senior Corporate Officer
TENURE
3.9 yrs

Shinji Tanabe

TITLE
Head of Overseeing Prod. HQ
TENURE
2.4 yrs

Masaji Ishino

TITLE
Senior Corporate Officer
TENURE
3.6 yrs

Yoji Imura

TITLE
Corporate Officer & Director
TENURE
0.3 yrs

Tatsuo Mitsuhata

TITLE
Head of North American Business Development Dept
AGE
54
TENURE
3.4 yrs

Takehiko Sasamori

TITLE
Corporate Officer & Director

Yukio Takashima

TITLE
President of Toyo Automotive Parts and President of New Pacific Industry
TENURE
3.8 yrs

Yasunori Fujita

TITLE
President of Toyo Chemical Industrial Products
TENURE
3.9 yrs

Iori Suzuki

TITLE
Corporate Officer & President of Toyo Tire Holdings for Americas Inc
Board of Directors Tenure

Average tenure and age of the Toyo Tire board of directors in years:

3.5
Average Tenure
60
Average Age
  • The tenure for the Toyo Tire board of directors is about average.
Board of Directors

Yasuhiro Yamada

TITLE
Chairman
TENURE
0.3 yrs

Takashi Shimizu

TITLE
CEO, President
AGE
57
TENURE
4 yrs

Yoji Imura

TITLE
Corporate Officer & Director
TENURE
0.3 yrs

Tatsuo Mitsuhata

TITLE
Head of North American Business Development Dept
AGE
54
TENURE
0.3 yrs

Takehiko Sasamori

TITLE
Corporate Officer & Director
TENURE
0.3 yrs

Ken Morita

TITLE
Outside Director
AGE
70
TENURE
4 yrs

Atsushi Takeda

TITLE
Outside Director
AGE
71
TENURE
3.5 yrs

Akio Hirano

TITLE
Audit & Supervisory Board Member
AGE
59
TENURE
3.5 yrs

Sachio Yamamoto

TITLE
Outside Audit & Supervisory Board Member
AGE
60
TENURE
3.5 yrs

Terumichi Saeki

TITLE
Outside Audit & Supervisory Board Member
AGE
76
TENURE
3.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Toyo Tire'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. Toyo Tire 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.

TYR News

Simply Wall St News

TYR Company Info

Description

Toyo Tire Corporation manufactures and sells tires in Japan and internationally. The company provides tires for passenger vehicles, trucks and buses, construction machinery, and industrial trucks, as well as SUVs, CUVs, and pickup trucks under the Toyo Tires, Nitto, and Silverstone brands. It also offers automotive parts, including engine, motor, member, differential, strut, and exhaust mounts; bushes and couplings; and dynamic dampers; constant verlocity universal joint boots; and air suspensions. The company was formerly known as Toyo Tire & Rubber Co., Ltd. and changed its name to Toyo Tire Corporation in January 2019. Toyo Tire Corporation was founded in 1945 and is headquartered in Itami City, Japan.

Details
Name: Toyo Tire Corporation
TYR
Exchange: DB
Founded: 1945
¥1,776,404,366
153,923,940
Website: http://www.toyotires.co.jp
Address: Toyo Tire Corporation
2-2-13 Fujinoki,
Itami City,
Hyogo, 664-0847,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 5105 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
OTCPK TOTT.F Common Stock Pink Sheets LLC US USD 06. Jan 1992
DB TYR Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
Number of employees
Current staff
Staff numbers
11,449
Toyo Tire employees.
Industry
Tires and Rubber
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/26 20:58
End of day share price update: 2019/06/26 00:00
Last estimates confirmation: 2019/06/21
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


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.