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Toyota Industries

DB:TAH
Snowflake Description

Fair value with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TAH
DB
¥1,571B
Market Cap
  1. Home
  2. DE
  3. Automobiles
Company description

Toyota Industries Corporation manufactures and sells automobiles, material handling equipment, and textile machinery in Japan and internationally. The last earnings update was 54 days ago. More info.


Add to Portfolio Compare Print
  • Toyota Industries has significant price volatility in the past 3 months.
TAH Share Price and Events
7 Day Returns
-1.9%
DB:TAH
3.7%
DE Auto Components
2.1%
DE Market
1 Year Returns
-10.9%
DB:TAH
-47.8%
DE Auto Components
-16.6%
DE Market
TAH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Toyota Industries (TAH) -1.9% -5.4% -16.9% -10.9% -3.9% -23.5%
DE Auto Components 3.7% -20.4% -41.1% -47.8% -63.5% -67.9%
DE Market 2.1% -12.6% -22.9% -16.6% -21.9% -27.8%
1 Year Return vs Industry and Market
  • TAH outperformed the Auto Components industry which returned -47.8% over the past year.
  • TAH outperformed the Market in Germany which returned -16.6% over the past year.
Price Volatility
TAH
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Toyota Industries undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Toyota Industries to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Toyota Industries.

DB:TAH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.3%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:TAH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.3%
Auto Components Unlevered Beta Simply Wall St/ S&P Global 1.14
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.14 (1 + (1- 30.86%) (83.74%))
1.536
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.54
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.536 * 6.33%)
9.33%

Discounted Cash Flow Calculation for DB:TAH using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Toyota Industries is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:TAH DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 9.33%)
2020 138,987.25 Analyst x4 127,125.89
2021 132,468.20 Analyst x5 110,822.95
2022 133,952.86 Analyst x7 102,501.24
2023 134,758.15 Est @ 0.6% 94,317.27
2024 135,167.58 Est @ 0.3% 86,530.21
2025 135,296.91 Est @ 0.1% 79,221.33
2026 135,229.22 Est @ -0.05% 72,424.23
2027 135,023.65 Est @ -0.15% 66,142.74
2028 134,721.99 Est @ -0.22% 60,362.87
2029 134,353.67 Est @ -0.27% 55,060.48
Present value of next 10 years cash flows ¥854,509.00
DB:TAH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥134,353.67 × (1 + -0.39%) ÷ (9.33% – -0.39%)
¥1,376,791.38
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥1,376,791.38 ÷ (1 + 9.33%)10
¥564,233.12
DB:TAH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥854,509.00 + ¥564,233.12
¥1,418,742.12
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥1,418,742.12 / 310.48
¥4569.45
DB:TAH Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:TAH represents 0.00838x of TSE:6201
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00838x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 4,569.45 x 0.00838
€38.29
Value per share (EUR) From above. €38.29
Current discount Discount to share price of €42.40
= -1 x (€42.40 - €38.29) / €38.29
-10.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Toyota Industries is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Toyota Industries's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Toyota Industries's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:TAH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in JPY ¥501.43
TSE:6201 Share Price ** TSE (2020-04-07) in JPY ¥5060
Germany Auto Components Industry PE Ratio Median Figure of 9 Publicly-Listed Auto Components Companies 12.05x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 16.83x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Toyota Industries.

DB:TAH PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:6201 Share Price ÷ EPS (both in JPY)

= 5060 ÷ 501.43

10.09x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Toyota Industries is good value based on earnings compared to the DE Auto Components industry average.
  • Toyota Industries is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Toyota Industries's expected growth come at a high price?
Raw Data
DB:TAH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.09x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
4.7%per year
Germany Auto Components Industry PEG Ratio Median Figure of 7 Publicly-Listed Auto Components Companies 0.53x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

DB:TAH PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.09x ÷ 4.7%

2.13x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Toyota Industries is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Toyota Industries's assets?
Raw Data
DB:TAH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in JPY ¥9,003.98
TSE:6201 Share Price * TSE (2020-04-07) in JPY ¥5060
Germany Auto Components Industry PB Ratio Median Figure of 13 Publicly-Listed Auto Components Companies 0.7x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.45x
DB:TAH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:6201 Share Price ÷ Book Value per Share (both in JPY)

= 5060 ÷ 9,003.98

0.56x

* Primary Listing of Toyota Industries.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Toyota Industries is good value based on assets compared to the DE Auto Components industry average.
X
Value checks
We assess Toyota Industries's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Auto Components industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Auto Components industry average (and greater than 0)? (1 check)
  5. Toyota Industries has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Toyota Industries expected to perform in the next 1 to 3 years based on estimates from 13 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Toyota Industries expected to grow at an attractive rate?
  • Toyota Industries's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Toyota Industries's earnings growth is positive but not above the Germany market average.
  • Toyota Industries's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:TAH Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:TAH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 4.7%
DB:TAH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 1.8%
Germany Auto Components Industry Earnings Growth Rate Market Cap Weighted Average 49.7%
Germany Auto Components Industry Revenue Growth Rate Market Cap Weighted Average 2.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:TAH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:TAH Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31 2,369,000 279,866 196,000 1
2023-03-31 2,282,000 256,693 174,000 1
2022-03-31 2,270,340 313,542 159,038 12
2021-03-31 2,183,977 346,117 146,023 12
2020-04-07
2020-03-31 2,189,241 311,342 148,778 12
DB:TAH Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-12-31 2,209,607 367,732 155,685
2019-09-30 2,260,886 295,336 160,624
2019-06-30 2,244,026 279,453 153,049
2019-03-31 2,214,946 270,306 152,748
2018-12-31 2,169,114 196,362 148,404
2018-09-30 2,123,048 248,637 161,709
2018-06-30 2,080,730 273,777 161,670
2018-03-31 2,003,973 268,567 168,180
2017-12-31 1,499,280 170,133
2017-09-30 1,534,654 292,402 151,298
2017-06-30 1,590,748 150,080
2017-03-31 1,675,148 239,094 131,398

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Toyota Industries's earnings are expected to grow by 4.7% yearly, however this is not considered high growth (20% yearly).
  • Toyota Industries's revenue is expected to grow by 1.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:TAH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from Toyota Industries Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TAH Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31 631.30 631.30 631.30 1.00
2023-03-31 560.40 560.40 560.40 1.00
2022-03-31 513.56 584.60 275.17 14.00
2021-03-31 474.81 555.60 291.13 14.00
2020-04-07
2020-03-31 479.34 504.90 436.95 13.00
DB:TAH Past Financials Data
Date (Data in JPY Millions) EPS *
2019-12-31 501.43
2019-09-30 517.33
2019-06-30 492.93
2019-03-31 491.96
2018-12-31 477.97
2018-09-30 520.82
2018-06-30 520.70
2018-03-31 541.66
2017-12-31 547.94
2017-09-30 487.13
2017-06-30 482.05
2017-03-31 420.78

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Toyota Industries is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Toyota Industries's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Toyota Industries has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Toyota Industries performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Toyota Industries's growth in the last year to its industry (Auto Components).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Toyota Industries's year on year earnings growth rate has been positive over the past 5 years.
  • Toyota Industries's 1-year earnings growth exceeds its 5-year average (4.9% vs 3.3%)
  • Toyota Industries's earnings growth has exceeded the DE Auto Components industry average in the past year (4.9% vs -45.1%).
Earnings and Revenue History
Toyota Industries's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Toyota Industries Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TAH Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 2,209,607.00 155,685.00 381,858.00
2019-09-30 2,260,886.00 160,624.00 383,640.00
2019-06-30 2,244,026.00 153,049.00 382,976.00
2019-03-31 2,214,946.00 152,748.00 376,866.00
2018-12-31 2,169,114.00 148,404.00 368,980.00
2018-09-30 2,123,048.00 161,709.00 360,130.00
2018-06-30 2,080,730.00 161,670.00 350,272.00
2018-03-31 2,003,973.00 168,180.00 334,347.00
2017-12-31 1,499,280.00 170,133.00 298,467.00
2017-09-30 1,534,654.00 151,298.00 284,516.00
2017-06-30 1,590,748.00 150,080.00 270,280.00
2017-03-31 1,675,148.00 131,398.00 268,354.00
2016-12-31 2,174,997.00 117,623.00 228,828.00 43,054.00
2016-09-30 2,207,168.00 176,036.00 234,317.00 43,054.00
2016-06-30 2,217,726.00 177,898.00 238,180.00 43,054.00
2016-03-31 2,228,944.00 183,036.00 238,391.00 43,054.00
2015-12-31 2,277,935.00 186,486.00 245,141.00 41,930.00
2015-09-30 2,220,800.00 122,278.00 235,805.00 41,930.00
2015-06-30 2,186,500.00 121,521.00 230,469.00 41,930.00
2015-03-31 2,166,661.00 115,263.00 227,326.00 41,930.00
2014-12-31 2,110,411.00 116,876.00 219,499.00 39,363.00
2014-09-30 2,072,517.00 109,139.00 213,052.00 39,363.00
2014-06-30 2,042,285.00 103,896.00 206,630.00 39,363.00
2014-03-31 2,007,856.00 91,705.00 198,102.00 39,363.00
2013-12-31 1,955,340.00 88,968.00 195,413.00 32,203.00
2013-09-30 1,833,691.00 72,574.00 179,539.00 32,203.00
2013-06-30 1,715,438.00 66,539.00 164,355.00 32,203.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Toyota Industries has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Toyota Industries used its assets less efficiently than the DE Auto Components industry average last year based on Return on Assets.
  • Toyota Industries's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Toyota Industries's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Auto Components industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Toyota Industries has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Toyota Industries's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Toyota Industries's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Toyota Industries is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Toyota Industries's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Toyota Industries's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Toyota Industries Company Filings, last reported 3 months ago.

DB:TAH Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 2,878,240.00 1,315,605.00 489,645.00
2019-09-30 2,713,535.00 1,297,394.00 467,083.00
2019-06-30 2,599,960.00 1,296,034.00 477,271.00
2019-03-31 2,561,936.00 1,297,414.00 462,359.00
2018-12-31 2,547,483.00 1,217,788.00 361,944.00
2018-09-30 2,770,741.00 1,202,125.00 371,865.00
2018-06-30 2,695,128.00 1,192,231.00 422,323.00
2018-03-31 2,633,869.00 1,168,098.00 435,626.00
2017-12-31 2,787,369.00 1,102,419.00 348,126.00
2017-09-30 2,572,858.00 1,094,911.00 331,829.00
2017-06-30 2,344,103.00 1,102,458.00 298,947.00
2017-03-31 2,316,467.00 977,552.00 243,685.00
2016-12-31 2,377,806.00 904,833.00 306,866.00
2016-09-30 2,038,406.00 836,175.00 321,563.00
2016-06-30 1,882,166.00 849,820.00 339,660.00
2016-03-31 2,113,946.00 890,991.00 363,173.00
2015-12-31 2,450,134.00 928,005.00 373,374.00
2015-09-30 2,212,865.00 921,000.00 520,573.00
2015-06-30 2,496,105.00 805,665.00 404,349.00
2015-03-31 2,425,928.00 753,941.00 339,608.00
2014-12-31 2,236,592.00 739,788.00 326,436.00
2014-09-30 1,982,978.00 723,986.00 315,509.00
2014-06-30 1,888,881.00 698,437.00 327,132.00
2014-03-31 1,829,324.00 705,249.00 323,160.00
2013-12-31 1,937,572.00 771,047.00 399,859.00
2013-09-30 1,820,285.00 712,637.00 318,268.00
2013-06-30 1,755,176.00 701,227.00 348,513.00
  • Toyota Industries's level of debt (42.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (33.2% vs 42.8% today).
  • Debt is well covered by operating cash flow (29.9%, greater than 20% of total debt).
  • Toyota Industries earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Toyota Industries's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Toyota Industries has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Toyota Industries's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.16%
Current annual income from Toyota Industries dividends. Estimated to be 3.21% next year.
If you bought €2,000 of Toyota Industries shares you are expected to receive €63 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Toyota Industries's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.67%).
  • Toyota Industries's dividend is below the markets top 25% of dividend payers in Germany (4.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:TAH Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
Germany Auto Components Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 5.6%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.7%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:TAH Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-03-31 190.00 1.00
2023-03-31 170.00 1.00
2022-03-31 163.36 14.00
2021-03-31 158.91 14.00
2020-04-07
2020-03-31 159.21 14.00
DB:TAH Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-06-20 160.000 2.686
2019-04-26 160.000 2.780
2018-06-20 150.000 2.578
2018-04-27 150.000 2.251
2018-02-13 140.000 2.170
2018-02-02 140.000 2.008
2017-11-10 140.000 1.959
2017-10-31 140.000 2.004
2017-06-23 130.000 2.105
2017-04-28 130.000 2.280
2017-02-10 120.000 2.192
2017-02-02 120.000 2.272
2016-11-10 120.000 2.192
2016-10-28 120.000 2.560
2016-06-10 120.000 2.634
2016-04-28 120.000 2.622
2016-02-12 120.000 2.469
2016-02-03 120.000 2.396
2015-11-13 120.000 1.929
2015-10-30 120.000 1.826
2015-06-11 110.000 1.727
2015-04-28 110.000 1.548
2015-02-12 100.000 1.449
2015-02-03 100.000 1.610
2014-11-13 100.000 1.648
2014-10-31 100.000 1.807
2014-06-13 90.000 1.759
2014-04-25 90.000 1.918
2014-02-13 70.000 1.485
2014-02-03 70.000 1.515
2013-10-31 70.000 1.541
2013-04-26 60.000 1.437
2013-02-13 60.000 1.734
2013-02-01 60.000 1.899
2012-11-13 60.000 2.284
2012-10-31 60.000 2.631
2012-07-31 55.000 2.457
2012-06-14 55.000 2.535
2012-04-27 55.000 2.581
2012-02-13 50.000 2.049
2012-02-03 50.000 2.129
2011-11-11 50.000 2.373
2011-10-28 50.000 2.311
2011-08-01 50.000 2.272
2011-06-16 50.000 1.923
2011-04-28 50.000 2.057
2011-02-10 50.000 1.971
2011-02-03 50.000 1.903
2010-11-11 50.000 1.961
2010-10-29 50.000 2.152
2010-06-23 30.000 1.326
2010-04-28 30.000 1.224
2010-02-10 20.000 0.796
2010-02-03 20.000 0.814
2009-11-12 20.000 0.760
2009-10-15 20.000 0.820
2009-06-19 40.000 1.642
2009-04-28 40.000 1.609

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Toyota Industries's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Toyota Industries's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Toyota Industries afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Toyota Industries has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Toyota Industries's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Akira Onishi
COMPENSATION ¥109,000,000
AGE 61
TENURE AS CEO 6.8 years
CEO Bio

Mr. Akira Onishi has been the President at Toyota Industries Corporation June 2013 and served as its a Senior Managing Director since June 23, 2010. Mr. Onishi served as a Managing Officer of Toyota Industries Corp. since June 2006. He served as the Chairman and Director of Kirloskar Toyoda Textile Machinery Pvt. Ltd. until May 13, 2016. He served as a Director of Uster Technologies AG since 2010. He started his career as sales and marketing manager in the textile machinery division of Toyota Industries Corporation in 1981. He has been a Director of Cascade Corporation since March 28, 2013 and Toyota Industries Corporation since June 23, 2010. Previously, he served as a Director of Toyota Industries Corporation since June 2005. Mr. Onishi earned a Degree in Law from Nagoya University, Japan.

CEO Compensation
  • Akira's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Akira's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the Toyota Industries management team in years:

3.5
Average Tenure
  • The tenure for the Toyota Industries management team is about average.
Management Team

Akira Onishi

TITLE
President & Representative Director
COMPENSATION
¥109M
AGE
61
TENURE
6.8 yrs

Kazue Sasaki

TITLE
Executive VP & Representative Director

Toshifumi Onishi

TITLE
Senior Executive Officer
TENURE
4.8 yrs

Mikihiko Okamoto

TITLE
Executive Officer
TENURE
9.8 yrs

Yojiro Mizuno

TITLE
Senior Executive Office & Director
TENURE
2.3 yrs

Masahiro Kawaguchi

TITLE
Senior Executive Officer
TENURE
2.3 yrs

Toshihiko Shimizu

TITLE
Executive Officer

Koichi Ito

TITLE
Senior Executive Officer

Yuji Ishizaki

TITLE
Senior Executive Officer & Director
TENURE
2.3 yrs

Keizo Hara

TITLE
Executive Officer
Board of Directors Tenure

Average tenure and age of the Toyota Industries board of directors in years:

5.3
Average Tenure
66
Average Age
  • The tenure for the Toyota Industries board of directors is about average.
Board of Directors

Tetsuro Toyoda

TITLE
Chairman of the Board
COMPENSATION
¥110M
AGE
74
TENURE
6.8 yrs

Akira Onishi

TITLE
President & Representative Director
COMPENSATION
¥109M
AGE
61
TENURE
14.8 yrs

Kazue Sasaki

TITLE
Executive VP & Representative Director
TENURE
9.8 yrs

Yojiro Mizuno

TITLE
Senior Executive Office & Director
TENURE
1.8 yrs

Yuji Ishizaki

TITLE
Senior Executive Officer & Director
TENURE
1.8 yrs

Taku Yamamoto

TITLE
Senior Executive Officer & Director
AGE
63
TENURE
5.8 yrs

Takuo Sasaki

TITLE
Executive VP & Director
AGE
62
TENURE
3.8 yrs

Shuzo Sumi

TITLE
Outside Director
AGE
72
TENURE
5.8 yrs

Kenichiro Yamanishi

TITLE
Outside Director
AGE
68
TENURE
4.8 yrs

Mitsuhisa Kato

TITLE
Outside Director
AGE
66
TENURE
4.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Toyota Industries's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Toyota Industries has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Toyota Industries Corporation manufactures and sells automobiles, material handling equipment, and textile machinery in Japan and internationally. It provides cars; engines for passenger cars, sport utility vehicles, and industrial equipment, as well as turbochargers and foundry parts; car air-conditioning compressors, aluminum die-cast products, and other products; DC-DC converters, rear inverters, direct-cooling devices, DC-AC inverters, and charging systems; and automotive and lift truck stamping dies, as well as parts for automobiles, materials handling equipment, and textile machinery. The company also offers lift and counterbalanced trucks, other industrial vehicles, and cleaning equipment; storage and conveying equipment, sorting equipment, and information systems; aisle, reach, stacker, order picking, and pallet trucks; sideloaders; automated storage and retrieval systems; automatic guided vehicles; in-house transporters; aerial work and scissor lift platforms; and warehousing equipment, as well as land transportation services through trucks. In addition, it provides weaving and spinning machines; and ring spinning and roving frames, combers, and cotton classing and yarn testing instruments, as well as leases materials handling systems and industrial equipment. Further, the company plans, designs, operates, and manages distribution centers; operates sports facilities; renovates and sells tube amplifiers; operates and manages employee clubs; plans and operates benefit programs; organizes and runs various events; leases real estate properties; and provides administrative processing services for payroll accounting. Additionally, it provides restaurant management, travel agency, personnel placement and contract office staffing, and patent investigation services. Toyota Industries Corporation was founded in 1926 and is headquartered in Kariya, Japan.

Details
Name: Toyota Industries Corporation
TAH
Exchange: DB
Founded: 1926
¥13,241,473,127
310,484,451
Website: http://www.toyota-industries.com
Address: Toyota Industries Corporation
2-1, Toyoda-cho,
Kariya,
Aichi, 448-8671,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 6201 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
OTCPK TYID.F Common Stock Pink Sheets LLC US USD 06. Jan 1992
DB TAH Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
OTCPK TYID.Y ADR Pink Sheets LLC US USD 06. May 2008
Number of employees
Current staff
Staff numbers
64,641
Toyota Industries employees.
Industry
Auto Parts and Equipment
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 21:31
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/03/30
Last earnings filing: 2020/02/13
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.