Toyota Motor Corporation (TM) Financial Ratios
30 years of historical data (1996–2025) · Consumer Cyclical · Auto - Manufacturers
EV/EBITDA
↓
9.86
↑+122% vs avg
5yr avg: 4.45
30Y Low0.1·High9.9
P/FCF
N/A
—
5yr avg: N/A
30Y Low0.1·High6.2
P/B Ratio
↓
1.08
↑+13465% vs avg
5yr avg: 0.01
30Y Low0.0·High0.9
ROE
↓
13.2%
↓+3% vs avg
5yr avg: 12.8%
30Y Low-4%·High20%
Debt/EBITDA
↓
5.51
↓-5% vs avg
5yr avg: 5.80
30Y Low0.1·High12.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
TM Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Toyota Motor Corporation trades at 8.5x earnings, 10964% above its 5-year average of 0.1x, sitting at the 100th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 19.6x, the stock trades at a discount of 57%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $254.2B | $231.5B | $340.1B | $193.5B | $250.3B | $221.7B | $170.7B | $172.2B | $195.2B | $166.0B | $167.2B |
| Enterprise Value | $445.1B | $30.04T | $27.49T | $22.06T | $20.63T | $20.60T | $343.1B | $16.75T | $16.49T | $16.33T | $15.52T |
| P/E Ratio → | 8.47 | 0.05 | 0.07 | 0.08 | 0.09 | 0.10 | 0.08 | 0.09 | 0.08 | 0.09 | 0.07 |
| P/S Ratio | 0.83 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| P/B Ratio | 1.08 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.86 | 0.01 | 0.01 | 0.01 | 0.01 |
| P/FCF | — | — | — | — | — | — | — | 6.22 | 0.32 | — | 0.42 |
| P/OCF | 10.74 | 0.06 | 0.08 | 0.07 | 0.07 | 8.62 | 0.07 | 0.05 | 0.05 | 0.05 | 0.04 |
P/E links to full P/E history page with 30-year chart
TM EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Toyota Motor Corporation's enterprise value stands at 9.9x EBITDA, 122% above its 5-year average of 4.4x. The Consumer Cyclical sector median is 11.4x, placing the stock at a 13% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.63 | 0.61 | 0.59 | 0.66 | 0.76 | 0.01 | 0.55 | 0.56 | 0.59 | 0.55 |
| EV / EBITDA | 9.86 | 4.26 | 3.69 | 4.63 | 4.28 | 5.36 | 0.09 | 3.93 | 3.99 | 4.53 | 3.46 |
| EV / EBIT | 14.49 | 4.62 | 3.91 | 5.94 | 5.13 | 6.93 | 0.14 | 7.24 | 6.23 | 7.34 | 5.14 |
| EV / FCF | — | — | — | — | — | — | — | 604.39 | 26.98 | — | 38.64 |
TM Profitability
Margins and return-on-capital ratios measuring operating efficiency
Toyota Motor Corporation earns an operating margin of 10.0%, above the Consumer Cyclical sector average of 2.9%. Operating margins have expanded from 7.3% to 10.0% over the past 3 years, signaling improving operational efficiency. ROE of 13.2% is modest. ROIC of 5.6% represents adequate returns on invested capital versus a sector median of 5.8%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 19.9% | 19.9% | 20.8% | 17.0% | 19.0% | 17.8% | 18.0% | 18.0% | 18.7% | 17.6% | 20.4% |
| Operating Margin | 10.0% | 10.0% | 11.9% | 7.3% | 9.5% | 8.1% | 8.0% | 8.2% | 8.2% | 7.2% | 10.0% |
| Net Profit Margin | 9.9% | 9.9% | 11.0% | 6.6% | 9.1% | 8.3% | 6.8% | 6.2% | 8.5% | 6.6% | 8.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.2% | 13.2% | 15.3% | 8.7% | 10.5% | 16.4% | 20.1% | 9.5% | 13.3% | 10.2% | 13.1% |
| ROA | 5.2% | 5.2% | 6.0% | 3.5% | 4.2% | 6.6% | 7.8% | 3.7% | 5.0% | 3.8% | 4.9% |
| ROIC | 5.6% | 5.6% | 7.1% | 4.1% | 4.7% | 6.9% | 9.7% | 5.1% | 5.1% | 4.4% | 6.4% |
| ROCE | 7.7% | 7.7% | 9.6% | 5.7% | 6.5% | 9.5% | 14.1% | 7.5% | 7.5% | 6.4% | 9.1% |
TM Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Toyota Motor Corporation carries a Debt/EBITDA ratio of 5.5x, which is highly leveraged (25% above the sector average of 4.4x). Net debt stands at $29.8T ($38.8T total debt minus $9.0T cash). Interest coverage of 57.0x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.05 | 1.05 | 1.04 | 1.00 | 0.98 | 0.98 | 1.00 | 1.00 | 1.00 | 1.05 | 1.04 |
| Debt / EBITDA | 5.51 | 5.51 | 4.91 | 6.17 | 5.50 | 6.90 | 0.05 | 4.73 | 4.68 | 5.31 | 4.08 |
| Net Debt / Equity | — | 0.81 | 0.77 | 0.75 | 0.75 | 0.75 | 0.87 | 0.83 | 0.84 | 0.89 | 0.87 |
| Net Debt / EBITDA | 4.23 | 4.23 | 3.65 | 4.59 | 4.23 | 5.31 | 0.04 | 3.89 | 3.94 | 4.48 | 3.43 |
| Debt / FCF | — | — | — | — | — | — | — | 598.18 | 26.66 | — | 38.23 |
| Interest Coverage | 57.02 | 57.02 | 82.69 | 57.54 | 92.29 | 44.37 | 51.21 | 87.88 | 87.00 | 67.94 | 80.61 |
TM Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.26x means Toyota Motor Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.10x to 1.26x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.26 | 1.26 | 1.19 | 1.10 | 1.09 | 1.09 | 1.05 | 1.04 | 1.02 | 1.03 | 1.13 |
| Quick Ratio | 1.10 | 1.10 | 1.03 | 0.93 | 0.91 | 0.91 | 0.91 | 0.89 | 0.88 | 0.89 | 1.00 |
| Cash Ratio | 0.54 | 0.54 | 0.48 | 0.39 | 0.39 | 0.39 | 0.23 | 0.32 | 0.32 | 0.34 | 0.34 |
| Asset Turnover | — | 0.51 | 0.50 | 0.50 | 0.46 | 0.40 | 59.74 | 0.58 | 0.58 | 0.57 | 0.60 |
| Inventory Turnover | 8.36 | 8.36 | 7.76 | 7.25 | 6.65 | 5.86 | 1043.18 | 9.07 | 9.41 | 9.52 | 10.97 |
| Days Sales Outstanding | — | 116.63 | 121.11 | 118.72 | 122.00 | 140.67 | 1.08 | 117.09 | 112.52 | 115.72 | 107.49 |
TM Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Toyota Motor Corporation returns 5.8% to shareholders annually — split between a 2.8% dividend yield and 3.0% buyback yield. The payout ratio of 23.8% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 11.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.8% | 100.0% | 100.0% | 100.0% | 100.0% | 2.7% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Payout Ratio | 23.8% | 23.8% | 17.8% | 29.7% | 24.9% | 0.3% | 30.4% | 34.2% | 25.1% | 34.9% | 30.5% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 11.8% | 2036.8% | 1454.0% | 1266.6% | 1138.6% | 1018.4% | 1200.7% | 1093.2% | 1277.6% | 1103.3% | 1383.3% |
| FCF Yield | — | — | — | — | — | — | — | 16.1% | 313.1% | — | 240.2% |
| Buyback Yield | 3.0% | 100.0% | 67.9% | 100.0% | 100.0% | 0.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Total Shareholder Yield | 5.8% | 100.0% | 100.0% | 100.0% | 100.0% | 2.7% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Shares Outstanding | — | $1.3B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.5B | $1.5B | $1.5B | $1.6B |
Peer Comparison
Compare TM with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 TMYou | $254B | 8.5 | 9.9 | — | 19.9% | 10.0% | 13.2% | 5.6% | 5.5 |
 GM | $71B | 24.1 | 10.3 | 6.4 | 10.9% | 1.6% | 4.2% | 1.3% | 7.4 |
 F | $48B | -5.9 | 22.5 | 3.8 | 12.2% | 1.4% | -20.2% | 1.0% | 19.7 |
 STLA | $22B | -0.7 | — | — | -2.7% | -14.5% | -38.6% | -25.3% | — |
 HMC | $32B | 7.2 | 2.5 | — | 21.5% | 5.6% | 6.5% | 5.9% | 2.3 |
 TSLA | $1.5T | 369.0 | 141.6 | 240.4 | 18.0% | 4.6% | 4.8% | 4.5% | 0.8 |
 RIVN | $18B | -4.7 | — | — | 2.7% | -66.5% | -65.4% | -36.7% | — |
 LCID | $2B | -0.5 | — | — | -92.8% | -258.7% | -117.6% | -98.7% | — |
 NIO | $12B | -3.7 | — | — | 9.9% | -33.3% | -105.1% | -55.2% | — |
 LI | $36B | 16.0 | 20.5 | 29.6 | 20.5% | 4.4% | 12.2% | 209.3% | 1.7 |
 XPEV | $6B | -17.7 | — | — | 14.3% | -16.3% | -17.1% | -16.9% | — |
| Consumer Cyclical Median | — | 19.6 | 11.4 | 15.0 | 36.9% | 2.9% | 5.6% | 5.8% | 4.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonTM — Frequently Asked Questions
Quick answers to the most common questions about buying TM stock.
What is Toyota Motor Corporation's P/E ratio?
Toyota Motor Corporation's current P/E ratio is 8.5x. The historical average is 0.2x. This places it at the 100th percentile of its historical range.
What is Toyota Motor Corporation's EV/EBITDA?
Toyota Motor Corporation's current EV/EBITDA is 9.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 3.8x.
What is Toyota Motor Corporation's ROE?
Toyota Motor Corporation's return on equity (ROE) is 13.2%. The historical average is 9.9%.
Is TM stock overvalued?
Based on historical data, Toyota Motor Corporation is trading at a P/E of 8.5x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Toyota Motor Corporation's dividend yield?
Toyota Motor Corporation's current dividend yield is 2.83% with a payout ratio of 23.8%.
What are Toyota Motor Corporation's profit margins?
Toyota Motor Corporation has 19.9% gross margin and 10.0% operating margin.
How much debt does Toyota Motor Corporation have?
Toyota Motor Corporation's Debt/EBITDA ratio is 5.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.