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 35,316,823 - -
Change - -16.74% 100.41% -33.14% 20.6% -14.3% - -
Enterprise Value (EV) 1 51,014,316 47,365,849 78,259,795 57,045,974 71,757,416 67,234,771 67,753,617 67,171,367
Change - -7.15% 65.22% -27.11% 25.79% -6.3% 0.77% -0.86%
P/E 10.8x 10.5x 10.4x 7.28x 10.7x 9.61x 8.62x 7.84x
PBR 1.17x 0.9x 1.49x 0.95x 1.03x 0.91x 0.85x 0.8x
PEG - -0.8x 0x -4.18x -0.6x 1.78x 0.8x 0.79x
Capitalization / Revenue 0.98x 0.69x 1.13x 0.71x 0.81x 0.65x 0.64x 0.62x
EV / Revenue 1.63x 1.27x 1.74x 1.19x 1.42x 1.25x 1.22x 1.17x
EV / EBITDA 12.7x 9.94x 10.5x 9.27x 13.8x 11.3x 10.3x 9.58x
EV / EBIT 17x 17.4x 14.6x 11.9x 19.1x 17x 14.7x 13.5x
EV / FCF 16.2x 31.5x 33.2x 36.5x 23.3x 28.6x 26.8x 24.7x
FCF Yield 6.17% 3.18% 3.02% 2.74% 4.3% 3.5% 3.74% 4.04%
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% 3.41% 3.77% 4.06%
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 2,989.50 2,989.50 2,989.50
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 5/11/22 5/10/23 5/8/24 5/8/25 5/8/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
9.61x1.25x11.3x3.41% 224B
7.74x0.35x2.82x0.88% 72.5B
8.45x1.23x13.99x3.12% 60.46B
12.36x0.28x3.54x4.74% 50.68B
23.68x1.37x7.68x2.26% 47.37B
7.68x0.07x0.7x7.65% 43.42B
11.21x0.67x9.26x4.1% 42.93B
4.31x-0x-0.01x7.15% 40.98B
8.42x-0.09x-0.74x4.37% 38.03B
Average 10.38x 0.57x 5.39x 4.19% 68.98B
Weighted average by Cap. 10.13x 0.78x 7.30x 3.76%

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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