Company Valuation: Toyota Tsusho Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,780,345 1,977,479 3,612,015 2,631,773 6,281,873 6,098,677 - -
Change - 11.07% 82.66% -27.14% 138.69% -2.92% - -
Enterprise Value (EV) 1 2,915,384 3,325,207 4,721,378 3,533,703 7,046,845 7,340,363 7,289,138 7,141,185
Change - 14.06% 41.99% -25.16% 99.42% 4.17% -0.7% -2.03%
P/E 8.01x 6.96x 10.9x 7.26x 17x 14.7x 13.3x 12.3x
PBR 1.03x 1.03x 1.46x 1x 1.99x 2.19x 1.97x 1.77x
PEG - 0.2x 0.7x 0.77x 7.73x 0.6x 1.2x 1.49x
Capitalization / Revenue 0.22x 0.2x 0.35x 0.26x 0.54x 0.5x 0.48x 0.45x
EV / Revenue 0.36x 0.34x 0.46x 0.34x 0.61x 0.6x 0.58x 0.53x
EV / EBITDA 7.2x 6.42x 8.12x 5.44x 9.76x 9.29x 8.64x 8.13x
EV / EBIT 9.91x 8.55x 10.7x 7.11x 12.9x 12.1x 11.1x 9.96x
EV / FCF -27.2x 10.9x 16.4x 13x 16.3x 17.1x 21.6x 18.5x
FCF Yield -3.68% 9.15% 6.12% 7.68% 6.15% 5.85% 4.63% 5.42%
Dividend per Share 2 53.33 67.33 93.33 105 120 129.8 143.6 154.8
Rate of return 3.16% 3.59% 2.73% 4.21% 2.02% 1.99% 2.21% 2.38%
EPS 2 210.5 269.2 314 343.4 351 441.9 490 530.6
Distribution rate 25.3% 25% 29.7% 30.6% 34.2% 29.4% 29.3% 29.2%
Net sales 1 8,028,000 9,848,560 10,188,980 10,309,550 11,561,935 12,162,731 12,656,294 13,446,360
EBITDA 1 405,026 517,737 581,761 649,760 722,344 790,409 843,676 878,503
EBIT 1 294,141 388,753 441,589 497,174 545,235 608,358 659,254 716,720
Net income 1 222,235 284,155 331,444 362,506 370,516 424,184 457,695 493,143
Net Debt 1 1,135,039 1,347,728 1,109,363 901,930 764,972 1,241,686 1,190,461 1,042,508
Reference price 2 1,686.67 1,873.33 3,421.67 2,493.00 5,950.00 6,504.00 6,504.00 6,504.00
Nbr of stocks (in thousands) 1,055,541 1,055,594 1,055,630 1,055,665 1,055,777 937,681 - -
Announcement Date 28/04/22 27/04/23 26/04/24 28/04/25 30/04/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.75x0.57x8.78x2.14% 35.05B
17.13x1.07x15.31x2.77% 100B
13.61x1.09x13.83x2.34% 81.81B
13.58x1.21x18.9x2.94% 81.28B
13.42x1.18x18.15x2.4% 50.03B
64.32x3.89x24.02x0.04% 44.7B
11.19x1.36x14.08x2.62% 44.26B
19.86x1.07x9.93x0.98% 34.31B
19.01x0.9x9.3x2.84% 11.76B
36.75x3.69x19.98x1.16% 9.46B
Average 22.26x 1.60x 15.23x 2.02% 49.28B
Weighted average by Cap. 19.70x 1.40x 15.73x 2.23%

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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