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.

Analysis of Investments

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Adjustment to Net Income (Loss): Mark to Market Available-for-sale Securities

Toyota Motor Corp., adjustment to net income attributable to Toyota Motor Corporation

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 (as reported) 18,117 17,704 10,218 3,450 4,909 2,251
Add: Unrealized gains (losses) on securities 4,816 4,851 3,974 1,604 (333) 1,940
Net income attributable to Toyota Motor Corporation (adjusted) 22,933 22,555 14,193 5,054 4,576 4,191

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).

Adjusted Profitability Ratios: Mark to Market Available-for-sale Securities (Summary)

Toyota Motor Corp., adjusted profitability ratios

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Mar 31, 2015 Mar 31, 2014 Mar 31, 2013 Mar 31, 2012 Mar 31, 2011 Mar 31, 2010
Net Profit Margin
Reported net profit margin 7.98% 7.10% 4.36% 1.53% 2.15% 1.11%
Adjusted net profit margin 10.10% 9.04% 6.06% 2.24% 2.00% 2.06%
Return on Equity (ROE)
Reported ROE 12.95% 12.60% 7.92% 2.69% 3.95% 2.02%
Adjusted ROE 16.39% 16.05% 11.00% 3.94% 3.68% 3.76%
Return on Assets (ROA)
Reported ROA 4.55% 4.40% 2.71% 0.93% 1.37% 0.69%
Adjusted ROA 5.76% 5.61% 3.77% 1.36% 1.28% 1.28%

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).

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. Toyota Motor Corp. adjusted net profit margin ratio improved from 2013 to 2014 and from 2014 to 2015.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by shareholders’ equity. Toyota Motor Corp. adjusted ROE improved from 2013 to 2014 and from 2014 to 2015.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. Toyota Motor Corp. adjusted ROA improved from 2013 to 2014 and from 2014 to 2015.

Toyota Motor Corp., Profitability Ratios: Reported vs. Adjusted

Adjusted Net Profit Margin

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Mar 31, 2015 Mar 31, 2014 Mar 31, 2013 Mar 31, 2012 Mar 31, 2011 Mar 31, 2010
As Reported
Selected Financial Data (US$ in millions, translated from JPY ￥)
Net income attributable to Toyota Motor Corporation 18,117 17,704 10,218 3,450 4,909 2,251
Net revenues 227,030 249,484 234,327 226,106 228,427 203,686
Profitability Ratio
Net profit margin1 7.98% 7.10% 4.36% 1.53% 2.15% 1.11%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions, translated from JPY ￥)
Adjusted net income attributable to Toyota Motor Corporation 22,933 22,555 14,193 5,054 4,576 4,191
Net revenues 227,030 249,484 234,327 226,106 228,427 203,686
Profitability Ratio
Adjusted net profit margin2 10.10% 9.04% 6.06% 2.24% 2.00% 2.06%

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).

2015 Calculations

1 Net profit margin = 100 × Net income attributable to Toyota Motor Corporation ÷ Net revenues
= 100 × 18,117 ÷ 227,030 = 7.98%

2 Adjusted net profit margin = 100 × Adjusted net income attributable to Toyota Motor Corporation ÷ Net revenues
= 100 × 22,933 ÷ 227,030 = 10.10%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. Toyota Motor Corp. adjusted net profit margin ratio improved from 2013 to 2014 and from 2014 to 2015.

Adjusted Return on Equity (ROE)

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Mar 31, 2015 Mar 31, 2014 Mar 31, 2013 Mar 31, 2012 Mar 31, 2011 Mar 31, 2010
As Reported
Selected Financial Data (US$ in millions, translated from JPY ￥)
Net income attributable to Toyota Motor Corporation 18,117 17,704 10,218 3,450 4,909 2,251
Total Toyota Motor Corporation shareholders’ equity 139,948 140,504 129,015 128,364 124,262 111,347
Profitability Ratio
ROE1 12.95% 12.60% 7.92% 2.69% 3.95% 2.02%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions, translated from JPY ￥)
Adjusted net income attributable to Toyota Motor Corporation 22,933 22,555 14,193 5,054 4,576 4,191
Total Toyota Motor Corporation shareholders’ equity 139,948 140,504 129,015 128,364 124,262 111,347
Profitability Ratio
Adjusted ROE2 16.39% 16.05% 11.00% 3.94% 3.68% 3.76%

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).

2015 Calculations

1 ROE = 100 × Net income attributable to Toyota Motor Corporation ÷ Total Toyota Motor Corporation shareholders’ equity
= 100 × 18,117 ÷ 139,948 = 12.95%

2 Adjusted ROE = 100 × Adjusted net income attributable to Toyota Motor Corporation ÷ Total Toyota Motor Corporation shareholders’ equity
= 100 × 22,933 ÷ 139,948 = 16.39%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by shareholders’ equity. Toyota Motor Corp. adjusted ROE improved from 2013 to 2014 and from 2014 to 2015.

Adjusted Return on Assets (ROA)

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Mar 31, 2015 Mar 31, 2014 Mar 31, 2013 Mar 31, 2012 Mar 31, 2011 Mar 31, 2010
As Reported
Selected Financial Data (US$ in millions, translated from JPY ￥)
Net income attributable to Toyota Motor Corporation 18,117 17,704 10,218 3,450 4,909 2,251
Total assets 397,881 402,384 376,841 372,928 358,607 326,196
Profitability Ratio
ROA1 4.55% 4.40% 2.71% 0.93% 1.37% 0.69%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions, translated from JPY ￥)
Adjusted net income attributable to Toyota Motor Corporation 22,933 22,555 14,193 5,054 4,576 4,191
Total assets 397,881 402,384 376,841 372,928 358,607 326,196
Profitability Ratio
Adjusted ROA2 5.76% 5.61% 3.77% 1.36% 1.28% 1.28%

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).

2015 Calculations

1 ROA = 100 × Net income attributable to Toyota Motor Corporation ÷ Total assets
= 100 × 18,117 ÷ 397,881 = 4.55%

2 Adjusted ROA = 100 × Adjusted net income attributable to Toyota Motor Corporation ÷ Total assets
= 100 × 22,933 ÷ 397,881 = 5.76%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. Toyota Motor Corp. adjusted ROA improved from 2013 to 2014 and from 2014 to 2015.