Company Valuation: Toyota Industries Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 3,061,358 2,629,767 2,282,024 4,858,976 3,850,157 6,159,607 - -
Change - -14.1% -13.22% 112.92% -20.76% 59.98% - -
Enterprise Value (EV) 1 4,168,472 3,773,197 3,778,432 6,068,392 5,112,037 7,535,481 7,363,316 7,293,365
Change - -9.48% 0.14% 60.61% -15.76% 47.41% -2.28% -0.95%
P/E ratio 22.4x 14.6x 11.8x 21.2x 14.8x 27.4x 22.4x 20.8x
PBR 0.95x 0.67x 0.59x 0.8x 0.78x 0.91x 1.17x 1.13x
PEG - 0.5x 1.69x 1.1x 0.9x -2.1x 0.9x 2.71x
Capitalization / Revenue 1.45x 0.97x 0.68x 1.27x 0.94x 1.4x 1.43x 1.4x
EV / Revenue 1.97x 1.39x 1.12x 1.58x 1.25x 1.8x 1.71x 1.66x
EV / EBITDA 12.7x 9.86x 8.84x 12.5x 9.37x 19.9x 19.4x 17.7x
EV / EBIT 35.3x 23.7x 22.2x 30.3x 23.1x 47.4x 30.5x 28.3x
EV / FCF -191x 45.1x -16.2x 13.8x 39.9x 26.7x 27.6x 277x
FCF Yield -0.52% 2.22% -6.16% 7.27% 2.51% 3.74% 3.63% 0.36%
Dividend per Share 2 150 170 190 240 280 263.3 320 340
Rate of return 1.52% 2.01% 2.59% 1.53% 2.2% 1.29% 1.56% 1.66%
EPS 2 440.3 580.7 621.2 736.9 857 744.8 916.7 987.1
Distribution rate 34.1% 29.3% 30.6% 32.6% 32.7% 35.8% 34.9% 34.4%
Net sales 1 2,118,302 2,705,183 3,379,891 3,833,205 4,084,984 4,369,512 4,301,451 4,404,533
EBITDA 1 327,998 382,803 427,666 485,343 545,750 490,076 378,704 411,563
EBIT 1 118,159 159,066 169,904 200,404 221,695 137,023 241,400 257,404
Net income 1 136,700 180,306 192,861 228,778 262,312 223,785 268,695 285,381
Net Debt 1 1,107,114 1,143,430 1,496,408 1,209,416 1,261,880 1,375,875 1,203,710 1,133,758
Reference price 2 9,860.00 8,470.00 7,350.00 15,650.00 12,705.00 20,490.00 20,490.00 20,490.00
Nbr of stocks (in thousands) 310,483 310,480 310,479 310,478 303,043 300,469 - -
Announcement Date 28/04/21 28/04/22 27/04/23 26/04/24 25/04/25 28/04/26 - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
27.84x1.8x19.87x1.29% 38.77B
19.62x1.76x14.73x2.84% 58.75B
15.47x1.58x8.84x3.11% 35.08B
12.68x1.07x11.35x4.48% 35.38B
32.47x4.73x18.85x1.53% 32.53B
13.7x1.53x10.95x1.98% 19.06B
23.49x2.16x11.87x2.12% 19.1B
30.71x - - 0.76% 15.63B
21.6x2.43x12.97x2.79% 14.81B
27.28x0.84x16.11x2.46% 12.97B
Average 22.49x 1.99x 13.95x 2.33% 28.21B
Weighted average by Cap. 21.78x 2.02x 14.25x 2.47%

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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