Company Valuation: Toyota Motor Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 30,631,613 25,502,542 51,110,075 34,171,258 41,211,569 35,736,206 - -
Change - -16.74% 100.41% -33.14% 20.6% -13.29% - -
Enterprise Value (EV) 1 51,014,316 47,365,849 78,259,795 57,045,974 71,757,416 67,654,154 68,173,000 67,590,750
Change - -7.15% 65.22% -27.11% 25.79% -5.72% 0.77% -0.85%
P/E 10.8x 10.5x 10.4x 7.28x 10.7x 9.72x 8.72x 7.93x
PBR 1.17x 0.9x 1.49x 0.95x 1.03x 0.92x 0.86x 0.81x
PEG - -0.8x 0x -4.18x -0.6x 1.8x 0.8x 0.8x
Capitalization / Revenue 0.98x 0.69x 1.13x 0.71x 0.81x 0.66x 0.64x 0.62x
EV / Revenue 1.63x 1.27x 1.74x 1.19x 1.42x 1.25x 1.23x 1.18x
EV / EBITDA 12.7x 9.94x 10.5x 9.27x 13.8x 11.4x 10.4x 9.64x
EV / EBIT 17x 17.4x 14.6x 11.9x 19.1x 17.1x 14.8x 13.6x
EV / FCF 16.2x 31.5x 33.2x 36.5x 23.3x 28.8x 26.9x 24.9x
FCF Yield 6.17% 3.18% 3.02% 2.74% 4.3% 3.47% 3.71% 4.02%
Dividend per Share 2 52 60 75 90 95 102.1 112.8 121.4
Rate of return 2.34% 3.19% 1.98% 3.44% 3% 3.37% 3.73% 4.01%
EPS 2 205.2 179.5 365.9 359.6 295.2 311.2 346.9 381.3
Distribution rate 25.3% 33.4% 20.5% 25% 32.2% 32.8% 32.5% 31.8%
Net sales 1 31,379,507 37,154,298 45,095,325 48,036,704 50,684,952 53,961,462 55,553,423 57,225,629
EBITDA 1 4,002,897 4,764,929 7,440,000 6,156,086 5,185,116 5,948,655 6,566,661 7,014,879
EBIT 1 2,995,697 2,725,025 5,352,934 4,795,586 3,766,216 3,958,392 4,599,391 4,985,655
Net income 1 2,850,110 2,451,318 4,944,933 4,765,086 3,848,098 3,772,097 4,097,603 4,404,181
Net Debt 1 20,382,703 21,863,307 27,149,720 22,874,716 30,545,847 31,917,948 32,436,794 31,854,544
Reference price 2 2,222.50 1,880.00 3,792.00 2,616.00 3,162.00 3,025.00 3,025.00 3,025.00
Nbr of stocks (in thousands) 13,782,503 13,565,182 13,478,395 13,062,407 13,033,387 11,813,622 - -
Announcement Date 11/05/22 10/05/23 08/05/24 08/05/25 08/05/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
9.72x1.25x11.37x3.37% 226B
7.85x0.35x2.86x0.86% 73.5B
8.45x1.23x13.99x3.12% 60.09B
16.21x0.29x3.6x4.66% 51.6B
22.77x1.33x7.46x2.33% 45.84B
7.81x0.08x0.75x7.52% 44.27B
4.42x0x0.01x7.04% 41.72B
10.98x0.66x8.93x4.22% 41.53B
8.68x-0.08x-0.66x4.24% 39.49B
Average 10.77x 0.57x 5.37x 4.15% 69.3B
Weighted average by Cap. 10.40x 0.78x 7.25x 3.73%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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