Income Statement TOTO LTD.

Stocks

5332

JP3596200000

Construction Supplies & Fixtures

Market Closed - Japan Exchange Other stock markets 02:30:00 2026-07-17 am EDT			5-day change	1st Jan Change
7,451.00 ^JPY	-4.58%		-7.54%	+71.92%

Jul. 17	Japan's Nikkei slides into correction zone on tech selloff, Middle East conflict	RE
Jul. 17	Japan's Nikkei slumps over 4% on tech selloff, Middle East conflict	RE

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Published financial data: TOTO LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2022	2023	2024	2025	2026
Revenues	645B	701B	702B	724B	737B
Total Revenues	645B	701B	702B	724B	737B
Cost of Goods Sold, Total	408B	458B	463B	470B	475B
Gross Profit	237B	243B	239B	254B	263B
Selling General & Admin Expenses, Total	155B	167B	167B	175B	176B
Provision for Bad Debts	-3M	-39M	-7M	-1M	-10M
R&D Expenses	24.02B	21.54B	23.12B	25.05B	26.3B
Depreciation & Amortization - (IS)	5.25B	5.65B	5.66B	5.9B	6.94B
Other Operating Expenses, Total	185B	194B	196B	206B	209B
Operating Income	52.18B	49.12B	42.77B	48.48B	53.76B
Interest Expense, Total	-118M	-76M	-237M	-318M	-736M
Interest And Investment Income	2.48B	3.32B	3.33B	3.15B	2.86B
Net Interest Expenses	2.36B	3.25B	3.1B	2.84B	2.13B
Income (Loss) On Equity Invest.	476M	1.17B	626M	1.26B	1.48B
Currency Exchange Gains (Loss)	3.35B	2.01B	5.62B	-1.79B	4.38B
Other Non Operating Income (Expenses)	-605M	-198M	390M	403M	585M
EBT, Excl. Unusual Items	57.76B	55.35B	52.5B	51.19B	62.33B
Gain (Loss) On Sale Of Investments	1.58B	48M	2.69B	8.06B	14.65B
Gain (Loss) On Sale Of Assets	-807M	-281M	-979M	-818M	-1.56B
Asset Writedown	-	-	-	-34.09B	-1.58B
Other Unusual Items	-670M	4.86B	-	-1M	-15.18B
EBT, Incl. Unusual Items	57.87B	59.97B	54.2B	24.33B	58.66B
Income Tax Expense	17.19B	18.89B	16.36B	11.81B	20.44B
Earnings From Continuing Operations	40.67B	41.08B	37.85B	12.52B	38.23B
Net Income to Company	40.67B	41.08B	37.85B	12.52B	38.23B
Minority Interest	-543M	-2.14B	-654M	-355M	2.03B
Net Income - (IS)	40.13B	38.94B	37.2B	12.17B	40.26B
Net Income to Common Incl Extra Items	40.13B	38.94B	37.2B	12.17B	40.26B
Net Income to Common Excl. Extra Items	40.13B	38.94B	37.2B	12.17B	40.26B
Per Share Items
Net EPS - Basic	236.74	229.66	219.3	71.72	243.01
Basic EPS - Continuing Operations	236.74	229.66	219.3	71.72	243.01
Basic Weighted Average Shares Outstanding	170M	170M	170M	170M	166M
Net EPS - Diluted	236.5	229.47	219.14	71.68	242.91
Diluted EPS - Continuing Operations	236.5	229.47	219.14	71.68	242.91
Diluted Weighted Average Shares Outstanding	170M	170M	170M	170M	166M
Normalized Basic EPS	209.77	191.4	189.59	186.48	247.41
Normalized Diluted EPS	209.55	191.24	189.45	186.36	247.31
Dividend Per Share	95	100	100	100	110
Payout Ratio	35.9	43.54	45.6	139.41	41.49
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	79.12B	80.53B	76.9B	83.5B	88.12B
EBITA	52.18B	49.12B	42.77B	48.48B	53.76B
EBIT	52.18B	49.12B	42.77B	48.48B	53.76B
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	29.71	31.5	30.17	48.53	34.84
Normalized Net Income	35.56B	32.46B	32.16B	31.64B	40.99B
Non-Cash Pension Expense	-1.08B	-2.27B	-3.2B	-3.47B	-3.92B
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	-
Selling and Marketing Expenses	26.03B	28.5B	27.91B	28.46B	28.1B
Research And Development Expense From Footnotes	24.02B	21.54B	23.12B	25.05B	26.3B
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-

Fiscal Period: March	2022	2023	2024	2025	2026
Assets
Cash And Equivalents	90.54B	98.12B	104B	123B	133B
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	90.54B	98.12B	104B	123B	133B
Accounts Receivable, Total	94.59B	99.15B	99.36B	101B	103B
Total Receivables	94.59B	99.15B	99.36B	101B	103B
Inventory	109B	146B	133B	135B	122B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	13.04B	16.41B	17.65B	16.22B	14.68B
Total Current Assets	308B	359B	354B	375B	372B
Net Property Plant And Equipment	232B	242B	269B	261B	268B
Long-term Investments	75.27B	97.95B	131B	138B	145B
Goodwill	-	-	-	-	-
Other Intangibles, Total	24.04B	29.47B	33.43B	36.46B	38.98B
Loans Receivable Long-Term	102M	99M	101M	99M	94M
Deferred Tax Assets Long-Term	2.17B	2.34B	2.57B	3.41B	3B
Other Long-Term Assets, Total	2M	3M	2M	1M	2M
Total Assets	641B	732B	790B	814B	827B
Liabilities
Accounts Payable, Total	78.52B	85.05B	76.69B	82.58B	80.72B
Accrued Expenses, Total	34.19B	38.04B	37.77B	38.25B	40.86B
Short-term Borrowings	36.91B	66.34B	66.42B	66.86B	66.47B
Current Income Taxes Payable	21.79B	18.24B	21.9B	23.47B	30.59B
Other Current Liabilities	28.06B	21.17B	21.42B	19.62B	19.76B
Total Current Liabilities	199B	229B	224B	231B	238B
Long-Term Debt	1.12B	1.58B	1.47B	1.02B	1.31B
Pension & Other Post Retirement Benefits	21.73B	20.57B	19.61B	17.69B	16.56B
Deferred Tax Liability Non Current	-	11.23B	25.96B	25.12B	27.07B
Other Non Current Liabilities	5.33B	8.32B	8.46B	8.91B	10.24B
Total Liabilities	228B	271B	280B	284B	294B
Common Stock, Total	35.58B	35.58B	35.58B	35.58B	35.58B
Additional Paid In Capital	29.38B	29.43B	29.49B	29.54B	29.22B
Retained Earnings	323B	345B	365B	360B	356B
Treasury Stock	-13.79B	-13.72B	-13.65B	-13.59B	-5.17B
Comprehensive Income and Other	31.59B	57.54B	86.1B	110B	113B
Total Common Equity	406B	454B	503B	522B	528B
Minority Interest	7.64B	7.29B	7.84B	8.13B	5.69B
Total Equity	413B	461B	511B	530B	534B
Total Liabilities And Equity	641B	732B	790B	814B	827B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	170M	170M	170M	170M	164M
ECS Total Common Shares Outstanding	170M	170M	170M	170M	164M
Book Value / Share	2.39K	2.68K	2.96K	3.08K	3.21K
Tangible Book Value	382B	424B	469B	486B	489B
Tangible Book Value Per Share	2.25K	2.5K	2.77K	2.86K	2.98K
Total Debt	38.04B	67.92B	67.89B	67.87B	67.78B
Net Debt	-52.5B	-30.2B	-35.66B	-54.88B	-65.07B
Debt Equivalent of Unfunded Proj. Benefit Obligation	9.88B	-7.34B	-21.69B	-43.74B	-55.84B
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	7.64B	7.29B	7.84B	8.13B	5.69B
Inventories - Raw Materials, Total	21.85B	28.47B	25.76B	26.64B	26.26B
Inventories - Work In Process, Total	14.17B	16.5B	16.31B	16B	15.33B
Inventories - Finished Goods, Total	73.44B	101B	91.41B	91.99B	80.03B
Full Time Employees	34.61K	34.15K	33.39K	32.97K	30.32K
Accumulated Allowance for Doubtful Accounts (Supple)	213M	245M	364M	495M	237M

Fiscal Period: March	2022	2023	2024	2025	2026
Net Income	57.87B	59.98B	54.21B	24.33B	58.66B
Depreciation & Amortization - CF	26.94B	31.41B	34.14B	35.02B	34.36B
Depreciation & Amortization, Total	26.94B	31.41B	34.14B	35.02B	34.36B
(Gain) Loss From Sale Of Asset	858M	279M	996M	34.91B	2.34B
(Gain) Loss on Sale of Investments - (CF)	-1.58B	-48M	-2.69B	-8.05B	-14.65B
Other Operating Activities, Total	-13.31B	-14.59B	-11.41B	-10.58B	-14.79B
Change In Accounts Receivable	-1.09B	-1.61B	1.69B	1.36B	-460M
Change In Inventories	-21.94B	-31.09B	16.73B	5.2B	14.17B
Change In Accounts Payable	7.45B	1.13B	-9.73B	-1.29B	1.49B
Change in Other Net Operating Assets	-5.84B	-13.87B	-7.62B	-9.52B	-9.88B
Cash from Operations	49.36B	31.58B	76.31B	71.38B	71.24B
Capital Expenditure	-30.12B	-27.75B	-51.13B	-44.55B	-36.48B
Sale of Property, Plant, and Equipment	164M	784M	293M	61M	288M
Sale (Purchase) of Intangible assets	-4.98B	-8.58B	-7.02B	-6.14B	-6.68B
Investment in Marketable and Equity Securities, Total	3.06B	212M	3.88B	12.02B	20.56B
Net (Increase) Decrease in Loans Originated / Sold - Investing	1M	3M	-2M	2M	5M
Other Investing Activities, Total	-18M	63M	187M	230M	487M
Cash from Investing	-31.89B	-35.27B	-53.79B	-38.38B	-21.82B
Short Term Debt Issued, Total	13.2B	43.2B	43.2B	43.2B	103B
Long-Term Debt Issued, Total	-	-	-	-	500M
Total Debt Issued	13.2B	43.2B	43.2B	43.2B	104B
Short Term Debt Repaid, Total	-73.2B	-13.2B	-43.2B	-43.2B	-103B
Long-Term Debt Repaid, Total	-	-198M	-137M	-	-657M
Total Debt Repaid	-73.2B	-13.4B	-43.34B	-43.2B	-104B
Repurchase of Common Stock	-14M	-8M	-7M	-9M	-20B
Common Dividends Paid	-14.41B	-16.96B	-16.96B	-16.96B	-16.7B
Common & Preferred Stock Dividends Paid	-14.41B	-16.96B	-16.96B	-16.96B	-16.7B
Other Financing Activities, Total	-1.35B	-4.06B	-1.85B	-2.03B	-1.69B
Cash from Financing	-75.77B	8.78B	-18.95B	-19.01B	-38.56B
Foreign Exchange Rate Adjustments	6.49B	2.8B	1.58B	4.07B	-382M
Miscellaneous Cash Flow Adjustments	1M	1M	-1M	-	-2M
Net Change in Cash	-51.82B	7.89B	5.14B	18.06B	10.48B
Supplemental Items
Cash Interest Paid	118M	67M	242M	321M	645M
Cash Income Tax Paid (Refund)	13.83B	15.37B	12.36B	11.59B	15.86B
Levered Free Cash Flow	17.29B	-18.4B	8.53B	19.23B	44.91B
Unlevered Free Cash Flow	17.36B	-18.35B	8.68B	19.43B	45.37B
Change In Net Working Capital	7.09B	44.13B	-5.96B	-4.81B	-20.57B
Net Debt Issued / Repaid	-60B	29.8B	-137M	0	-157M

Fiscal Period: March	2022	2023	2024	2025	2026
Profitability
Return on Assets	5.06	4.47	3.51	3.78	4.09
Return on Total Capital	7.07	6.26	4.83	5.15	5.6
Return On Equity %	10.34	9.4	7.79	2.41	7.18
Return on Common Equity	10.39	9.06	7.78	2.37	7.66
Margin Analysis
Gross Profit Margin %	36.71	34.65	34.03	35.07	35.61
SG&A Margin	24.09	23.77	23.85	24.11	23.81
EBITDA Margin %	12.26	11.49	10.95	11.53	11.95
EBITA Margin %	8.09	7.01	6.09	6.69	7.29
EBIT Margin %	8.09	7.01	6.09	6.69	7.29
Income From Continuing Operations Margin %	6.3	5.86	5.39	1.73	5.18
Net Income Margin %	6.22	5.55	5.3	1.68	5.46
Net Avail. For Common Margin %	6.22	5.55	5.3	1.68	5.46
Normalized Net Income Margin	5.51	4.63	4.58	4.37	5.56
Levered Free Cash Flow Margin	2.68	-2.62	1.21	2.65	6.09
Unlevered Free Cash Flow Margin	2.69	-2.62	1.24	2.68	6.15
Asset Turnover
Asset Turnover	1	1.02	0.92	0.9	0.9
Fixed Assets Turnover	2.86	2.96	2.75	2.73	2.79
Receivables Turnover (Average Receivables)	6.96	7.24	7.08	7.23	7.23
Inventory Turnover (Average Inventory)	4.24	3.59	3.32	3.51	3.71
Short Term Liquidity
Current Ratio	1.54	1.57	1.58	1.62	1.56
Quick Ratio	0.93	0.86	0.91	0.97	0.99
Operating Cash Flow to Current Liabilities	0.25	0.14	0.34	0.31	0.3
Days Sales Outstanding (Average Receivables)	52.46	50.42	51.73	50.47	50.47
Days Outstanding Inventory (Average Inventory)	86.11	101.59	110.24	104.02	98.48
Average Days Payable Outstanding	62.09	60.38	65.6	61.64	64.53
Cash Conversion Cycle (Average Days)	76.47	91.63	96.36	92.84	84.42
Long Term Solvency
Total Debt/Equity	9.2	14.73	13.3	12.8	12.7
Total Debt / Total Capital	8.43	12.84	11.74	11.34	11.27
LT Debt/Equity	0.27	0.34	0.29	0.19	0.25
Long-Term Debt / Total Capital	0.25	0.3	0.25	0.17	0.22
Total Liabilities / Total Assets	35.51	36.98	35.39	34.83	35.48
EBIT / Interest Expense	442.21	646.34	180.45	152.45	73.04
EBITDA / Interest Expense	670.51	1.06K	324.49	262.57	119.73
(EBITDA - Capex) / Interest Expense	415.25	694.5	108.75	122.47	70.17
Total Debt / EBITDA	0.48	0.84	0.88	0.81	0.77
Net Debt / EBITDA	-0.66	-0.38	-0.46	-0.66	-0.74
Total Debt / (EBITDA - Capex)	0.78	1.29	2.63	1.74	1.31
Net Debt / (EBITDA - Capex)	-1.07	-0.57	-1.38	-1.41	-1.26
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	11.07	8.67	0.16	3.16	1.79
Gross Profit, 1 Yr. Growth %	11.48	2.57	-1.63	6.3	3.35
EBITDA, 1 Yr. Growth %	18.83	1.79	-4.51	8.58	5.54
EBITA, 1 Yr. Growth %	26.19	-5.86	-12.94	13.36	10.89
EBIT, 1 Yr. Growth %	26.19	-5.86	-12.94	13.36	10.89
Earnings From Cont. Operations, 1 Yr. Growth %	46.96	1	-7.86	-66.91	205.25
Net Income, 1 Yr. Growth %	47.55	-2.96	-4.49	-67.29	230.84
Normalized Net Income, 1 Yr. Growth %	37.14	-8.73	-0.92	-1.62	29.56
Diluted EPS Before Extra, 1 Yr. Growth %	47.54	-2.97	-4.5	-67.29	238.88
Accounts Receivable, 1 Yr. Growth %	4.07	4.82	0.21	1.63	1.96
Inventory, 1 Yr. Growth %	31.5	33.03	-8.33	0.86	-9.67
Net Property, Plant and Equip., 1 Yr. Growth %	5.73	4.61	10.78	-2.69	2.5
Total Assets, 1 Yr. Growth %	-1.02	14.14	8.01	3	1.67
Tangible Book Value, 1 Yr. Growth %	10.58	11.17	10.59	3.52	0.71
Common Equity, 1 Yr. Growth %	10.55	11.85	10.78	3.89	1.14
Cash From Operations, 1 Yr. Growth %	-17.12	-36.02	141.65	-6.46	-0.2
Capital Expenditures, 1 Yr. Growth %	-22.24	-7.86	84.24	-12.86	-18.13
Levered Free Cash Flow, 1 Yr. Growth %	41.93	-206.42	-146.37	125.42	133.56
Unlevered Free Cash Flow, 1 Yr. Growth %	41.33	-205.69	-147.3	123.87	133.53
Dividend Per Share, 1 Yr. Growth %	35.71	5.26	0	0	10
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	4.01	9.86	4.32	1.65	2.47
Gross Profit, 2 Yr. CAGR %	5.37	6.93	0.44	2.26	4.82
EBITDA, 2 Yr. CAGR %	12.87	9.98	-1.41	1.82	7.04
EBITA, 2 Yr. CAGR %	19.14	8.99	-9.47	-0.66	12.12
EBIT, 2 Yr. CAGR %	19.14	8.99	-9.47	-0.66	12.12
Earnings From Cont. Operations, 2 Yr. CAGR %	31.4	21.83	-3.53	-44.79	0.5
Net Income, 2 Yr. CAGR %	30.45	19.66	-3.73	-44.1	4.03
Normalized Net Income, 2 Yr. CAGR %	24	11.88	-4.9	-1.27	12.9
Diluted EPS Before Extra, 2 Yr. CAGR %	30.43	19.65	-3.74	-44.11	5.28
Accounts Receivable, 2 Yr. CAGR %	5.45	4.44	2.49	0.92	1.8
Inventory, 2 Yr. CAGR %	13.99	32.26	10.43	-3.84	-4.55
Net Property, Plant and Equip., 2 Yr. CAGR %	5.91	5.17	7.65	3.83	-0.13
Total Assets, 2 Yr. CAGR %	4.77	6.29	11.03	5.47	2.33
Tangible Book Value, 2 Yr. CAGR %	10.1	10.88	10.88	7	2.1
Common Equity, 2 Yr. CAGR %	10.1	11.19	11.31	7.28	2.51
Cash From Operations, 2 Yr. CAGR %	-12.07	-27.18	24.34	50.35	-3.38
Capital Expenditures, 2 Yr. CAGR %	-0.47	-15.36	30.29	26.7	-15.54
Levered Free Cash Flow, 2 Yr. CAGR %	-11.74	22.9	-29.75	2.24	129.45
Unlevered Free Cash Flow, 2 Yr. CAGR %	-11.69	22.22	-29.3	2.9	128.65
Dividend Per Share, 2 Yr. CAGR %	2.74	19.52	2.6	0	4.88
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	3.26	5.54	6.53	3.93	1.69
Gross Profit, 3 Yr. CAGR %	3.36	4.43	4	2.36	2.62
EBITDA, 3 Yr. CAGR %	7.6	9.05	4.92	1.81	3.05
EBITA, 3 Yr. CAGR %	9.11	10.14	1.13	-2.42	3.05
EBIT, 3 Yr. CAGR %	9.11	10.14	1.13	-2.42	3.05
Earnings From Cont. Operations, 3 Yr. CAGR %	7.02	20.37	11	-32.48	-2.37
Net Income, 3 Yr. CAGR %	7.42	18.2	11	-32.82	1.11
Normalized Net Income, 3 Yr. CAGR %	10.16	11.96	7.44	-3.82	8.09
Diluted EPS Before Extra, 3 Yr. CAGR %	7.4	18.18	10.98	-32.83	1.92
Accounts Receivable, 3 Yr. CAGR %	-0.65	5.24	3.01	2.2	1.26
Inventory, 3 Yr. CAGR %	10.12	20.02	17.05	7.14	-5.82
Net Property, Plant and Equip., 3 Yr. CAGR %	5.43	5.48	7	4.09	3.38
Total Assets, 3 Yr. CAGR %	3.69	7.81	6.86	8.29	4.19
Tangible Book Value, 3 Yr. CAGR %	5.95	10.45	10.78	8.37	4.86
Common Equity, 3 Yr. CAGR %	6.15	10.68	11.06	8.78	5.19
Cash From Operations, 3 Yr. CAGR %	50.11	-20.91	8.62	13.09	31.15
Capital Expenditures, 3 Yr. CAGR %	-0.85	-3	9.69	13.94	9.54
Levered Free Cash Flow, 3 Yr. CAGR %	11.77	-6.06	-11.19	3.61	34.65
Unlevered Free Cash Flow, 3 Yr. CAGR %	12.02	-6.24	-10.93	3.82	35.23
Dividend Per Share, 3 Yr. CAGR %	1.82	3.57	12.62	1.72	3.23
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	2.37	3.43	3.68	3.96	4.89
Gross Profit, 5 Yr. CAGR %	1.39	1.63	2.18	3.56	4.32
EBITDA, 5 Yr. CAGR %	3.14	1.72	3.9	6.1	5.76
EBITA, 5 Yr. CAGR %	1.44	-1.36	1.26	5.69	5.39
EBIT, 5 Yr. CAGR %	1.44	-1.36	1.26	5.69	5.39
Earnings From Cont. Operations, 5 Yr. CAGR %	3.19	1.66	2.67	-11.87	6.67
Net Income, 5 Yr. CAGR %	3.47	1.14	2.81	-12.4	8.16
Normalized Net Income, 5 Yr. CAGR %	2.96	-0.55	3.87	6.47	9.59
Diluted EPS Before Extra, 5 Yr. CAGR %	3.46	1.13	2.8	-12.41	8.67
Accounts Receivable, 5 Yr. CAGR %	-0.26	0.71	0.59	3.49	2.52
Inventory, 5 Yr. CAGR %	11.9	16.73	10.24	9.83	7.88
Net Property, Plant and Equip., 5 Yr. CAGR %	5.34	5.12	6.31	4.81	4.09
Total Assets, 5 Yr. CAGR %	2.96	5.26	6.57	6.87	5.02
Tangible Book Value, 5 Yr. CAGR %	6.23	6.02	7.89	9.06	7.23
Common Equity, 5 Yr. CAGR %	6.39	6.34	8.19	9.31	7.55
Cash From Operations, 5 Yr. CAGR %	-4.99	-7.04	39.22	2.26	3.65
Capital Expenditures, 5 Yr. CAGR %	-1.22	-4.62	10.6	7.94	-1.2
Levered Free Cash Flow, 5 Yr. CAGR %	-9.41	55.51	-7.18	-2.83	29.82
Unlevered Free Cash Flow, 5 Yr. CAGR %	-9.36	54.72	-6.81	-2.69	29.87
Dividend Per Share, 5 Yr. CAGR %	6.92	6.79	2.13	2.13	9.46