Toyota Motor Corp. (TM) | Valuation Ratios

Current Valuation Ratios

Toyota Motor Corp., current price multiples

	Toyota Motor Corp.	Consumer Goods
Selected Financial Data
Current share price (P)	$ 127.32
No. shares of common stock outstanding	1,583,404,877
Growth rate (g)	2.95%

Earnings per share (EPS)	$ 2.18
Next year expected EPS	$ 2.24
Operating profit per share	$ 2.73
Sales per share	$ 142.80
Book value per share (BVPS)	$ 81.07
Ratios (Price Multiples)
Price to earnings (P/E)	58.43	23.65
Price to next year expected earnings	56.76	21.73
Price-earnings-growth (PEG)	19.79	2.68
Price to operating profit (P/OP)	46.59	16.70
Price to sales (P/S)	0.89	1.87
Price to book value (P/BV)	1.57	4.12

If company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.

Otherwise, if company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.

Toyota Motor Corp., historical price multiples

	Mar 31, 2012	Mar 31, 2011	Mar 31, 2010	Mar 31, 2009	Mar 31, 2008	Mar 31, 2007
Price to earnings (P/E)	34.92	25.96	48.76	–	8.92	14.13
Price to operating profit (P/OP)	27.84	22.63	69.23	–	6.75	10.38
Price to sales (P/S)	0.53	0.56	0.54	0.57	0.58	0.97
Price to book value (P/BV)	0.94	1.03	0.99	1.16	1.29	1.96

Ratio	Description	The company
P/E ratio	The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings.	Toyota Motor Corp.'s P/E ratio declined from 2010 to 2011 but then slightly increased from 2011 to 2012.
P/OP ratio	Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit.	Toyota Motor Corp.'s P/OP ratio declined from 2010 to 2011 but then slightly increased from 2011 to 2012.
P/S ratio	An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative.	Toyota Motor Corp.'s P/S ratio increased from 2010 to 2011 but then declined significantly from 2011 to 2012.
P/BV ratio	The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company's required rate of return and its actual rate of return.	Toyota Motor Corp.'s P/BV ratio increased from 2010 to 2011 but then declined significantly from 2011 to 2012.

	Mar 31, 2012	Mar 31, 2011	Mar 31, 2010	Mar 31, 2009	Mar 31, 2008	Mar 31, 2007
No. shares of common stock outstanding¹	1,583,404,877	1,567,849,344	1,567,997,930	1,567,941,238	1,574,639,926	1,598,968,346
Selected Financial Data (USD $)
Net income (loss) attributable to Toyota Motor Corporation (in millions)	3,450	4,909	2,251	(4,448)	17,146	13,927
Earnings per share (EPS)	2.18	3.13	1.44	-2.84	10.89	8.71
Share price^1, 2	76.09	81.29	70.00	76.06	97.14	123.11
P/E Ratio, Comparison to Industry
Toyota Motor Corp.	34.92	25.96	48.76	–	8.92	14.13
Industry, Consumer Goods	20.02	16.93	16.27	19.71	12.45	–

¹ Data adjusted for splits and stock dividends.
² Close price on the filing date of Toyota Motor Corp.'s Annual Report.

Ratio	Description	The company
P/E ratio	The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings.	Toyota Motor Corp.'s P/E ratio declined from 2010 to 2011 but then slightly increased from 2011 to 2012.

	Mar 31, 2012	Mar 31, 2011	Mar 31, 2010	Mar 31, 2009	Mar 31, 2008	Mar 31, 2007
No. shares of common stock outstanding¹	1,583,404,877	1,567,849,344	1,567,997,930	1,567,941,238	1,574,639,926	1,598,968,346
Selected Financial Data (USD $)
Operating income (loss) (in millions)	4,327	5,632	1,586	(4,693)	22,661	18,964
Operating profit per share	2.73	3.59	1.01	-2.99	14.39	11.86
Share price^1, 2	76.09	81.29	70.00	76.06	97.14	123.11
P/OP Ratio, Comparison to Industry
Toyota Motor Corp.	27.84	22.63	69.23	–	6.75	10.38
Industry, Consumer Goods	14.14	12.28	12.94	13.95	8.96	–

¹ Data adjusted for splits and stock dividends.
² Close price on the filing date of Toyota Motor Corp.'s Annual Report.

Ratio	Description	The company
P/OP ratio	Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit.	Toyota Motor Corp.'s P/OP ratio declined from 2010 to 2011 but then slightly increased from 2011 to 2012.

	Mar 31, 2012	Mar 31, 2011	Mar 31, 2010	Mar 31, 2009	Mar 31, 2008	Mar 31, 2007
No. shares of common stock outstanding¹	1,583,404,877	1,567,849,344	1,567,997,930	1,567,941,238	1,574,639,926	1,598,968,346
Selected Financial Data (USD $)
Net revenues (in millions)	226,106	228,427	203,686	208,995	262,394	202,864
Sales per share	142.80	145.69	129.90	133.29	166.64	126.87
Share price^1, 2	76.09	81.29	70.00	76.06	97.14	123.11
P/S Ratio, Comparison to Industry
Toyota Motor Corp.	0.53	0.56	0.54	0.57	0.58	0.97
Industry, Consumer Goods	1.59	1.44	1.44	1.36	1.22	–

¹ Data adjusted for splits and stock dividends.
² Close price on the filing date of Toyota Motor Corp.'s Annual Report.

Ratio	Description	The company
P/S ratio	An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative.	Toyota Motor Corp.'s P/S ratio increased from 2010 to 2011 but then declined significantly from 2011 to 2012.

	Mar 31, 2012	Mar 31, 2011	Mar 31, 2010	Mar 31, 2009	Mar 31, 2008	Mar 31, 2007
No. shares of common stock outstanding¹	1,583,404,877	1,567,849,344	1,567,997,930	1,567,941,238	1,574,639,926	1,598,968,346
Selected Financial Data (USD $)
Toyota Motor Corporation shareholders’ equity (in millions)	128,364	124,262	111,347	102,425	118,470	100,263
Book value per share (BVPS)	81.07	79.26	71.01	65.32	75.24	62.71
Share price^1, 2	76.09	81.29	70.00	76.06	97.14	123.11
P/BV Ratio, Comparison to Industry
Toyota Motor Corp.	0.94	1.03	0.99	1.16	1.29	1.96
Industry, Consumer Goods	3.49	3.14	3.04	3.07	2.92	–

¹ Data adjusted for splits and stock dividends.
² Close price on the filing date of Toyota Motor Corp.'s Annual Report.

Ratio	Description	The company
P/BV ratio	The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company's required rate of return and its actual rate of return.	Toyota Motor Corp.'s P/BV ratio increased from 2010 to 2011 but then declined significantly from 2011 to 2012.