Stock Analysis on Net
Stock Analysis on Net

Toyota Motor Corp. (NYSE:TM)

This company has been moved to the archive! The financial data has not been updated since June 24, 2015.

Price to FCFE (P/FCFE)

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Free Cash Flow to Equity (FCFE)

Toyota Motor Corp., FCFE calculation

US$ in millions, translated from JPY ￥

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12 months ended: Mar 31, 2015 Mar 31, 2014 Mar 31, 2013 Mar 31, 2012 Mar 31, 2011 Mar 31, 2010
Net income attributable to Toyota Motor Corporation 18,117 17,704 10,218 3,450 4,909 2,251
Net income attributable to noncontrolling interests 1,122 1,637 1,288 1,031 689 374
Net noncash charges 9,867 9,530 11,415 12,048 12,882 16,618
Changes in operating assets and liabilities, and other 1,619 6,535 3,111 1,143 5,862 8,256
Net cash provided by operating activities 30,725 35,405 26,034 17,672 24,342 27,499
Additions to fixed assets excluding equipment leased to others (9,556) (9,420) (9,076) (8,803) (7,569) (6,498)
Additions to equipment leased to others (18,433) (16,592) (11,890) (9,838) (12,770) (8,954)
Proceeds from sales of fixed assets excluding equipment leased to others 346 381 416 446 617 564
Proceeds from sales of equipment leased to others 6,697 7,228 5,665 5,248 5,853 4,999
Proceeds from issuance of long-term debt 41,922 37,777 33,891 29,137 35,255 34,161
Payments of long-term debt (28,862) (29,024) (28,485) (34,890) (29,941) (31,580)
Increase (decrease) in short-term borrowings (2,407) 4,544 2,137 3,792 1,951 (3,605)
Free cash flow to equity (FCFE) 20,434 30,299 18,693 2,764 17,738 16,587

Based on: 20-F (reporting date: 2015-03-31), 20-F (reporting date: 2014-03-31), 20-F (reporting date: 2013-03-31), 20-F (reporting date: 2012-03-31), 20-F (reporting date: 2011-03-31), 20-F (reporting date: 2010-03-31).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Toyota Motor Corp. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Toyota Motor Corp. FCFE increased from 2013 to 2014 but then slightly decreased from 2014 to 2015 not reaching 2013 level.

Price to FCFE Ratio, Current

Toyota Motor Corp., current P/FCFE calculation, comparison to benchmarks

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No. shares of common stock outstanding 1,573,406,816
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) 20,434
FCFE per share 12.99
Current share price (P) 135.40
Valuation Ratio
P/FCFE 10.43
Benchmarks
P/FCFE, Competitors1
Ford Motor Co. 3.44
General Motors Co. 3.38
Tesla Inc. 83.28

Based on: 20-F (reporting date: 2015-03-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

Toyota Motor Corp., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Mar 31, 2015 Mar 31, 2014 Mar 31, 2013 Mar 31, 2012 Mar 31, 2011 Mar 31, 2010
No. shares of common stock outstanding1 1,573,406,816 1,584,883,010 1,583,714,334 1,583,404,877 1,567,849,344 1,567,997,930
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 20,434 30,299 18,693 2,764 17,738 16,587
FCFE per share3 12.99 19.12 11.80 1.75 11.31 10.58
Share price1, 4 135.40 116.55 116.53 76.09 81.29 70.00
Valuation Ratio
P/FCFE5 10.43 6.10 9.87 43.59 7.19 6.62
Benchmarks
P/FCFE, Competitors6
Ford Motor Co. — — — — — —
General Motors Co. — — — — — —
Tesla Inc. — — — — — —

Based on: 20-F (reporting date: 2015-03-31), 20-F (reporting date: 2014-03-31), 20-F (reporting date: 2013-03-31), 20-F (reporting date: 2012-03-31), 20-F (reporting date: 2011-03-31), 20-F (reporting date: 2010-03-31).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2015 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 20,433,578,015 ÷ 1,573,406,816 = 12.99

4 Closing price as at the filing date of Toyota Motor Corp. Annual Report.

5 2015 Calculation
P/FCFE = Share price ÷ FCFE per share
= 135.40 ÷ 12.99 = 10.43

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Toyota Motor Corp. P/FCFE ratio decreased from 2013 to 2014 but then increased from 2014 to 2015 exceeding 2013 level.