Financials Toyota Industries Corporation

Equities

6201

JP3634600005

Heavy Machinery & Vehicles

Delayed Japan Exchange Other stock markets 01:30:00 2025-12-09 am EST			5-day change	1st Jan Change
17,490.00 ^JPY	+0.63%		+0.52%	+35.95%

Dec. 08	Carmakers, rental and leasing firms urge EU to avoid mandatory EV fleet targets	RE
Dec. 03	German new car registrations to inch up in 2026, says VDIK	RE

Projected Income Statement: Toyota Industries Corporation

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	2,118,302	2,705,183	3,379,891	3,833,205	4,084,984	4,117,859	4,276,784	4,432,807
Change	-	27.71%	24.94%	13.41%	6.57%	0.8%	3.86%	3.65%
EBITDA ¹	327,998	382,803	427,666	485,343	545,750	414,584	503,709	540,695
Change	-	16.71%	11.72%	13.49%	12.45%	-24.03%	21.5%	7.34%
EBIT ¹	118,159	159,066	169,904	200,404	221,695	173,585	229,999	252,605
Change	-	34.62%	6.81%	17.95%	10.62%	-21.7%	32.5%	9.83%
Interest Paid ¹	-9,830	-7,282	-13,976	-21,391	-15,869	-22,153	-19,744	-19,826
Earnings before Tax (EBT) ¹	184,011	246,123	262,967	309,190	351,463	293,049	364,071	390,903
Change	-	33.75%	6.84%	17.58%	13.67%	-16.62%	24.24%	7.37%
Net income ¹	136,700	180,306	192,861	228,778	262,312	213,090	265,357	286,041
Change	-	31.9%	6.96%	18.62%	14.66%	-18.76%	24.53%	7.79%
Announcement Date	4/28/21	4/28/22	4/27/23	4/26/24	4/25/25	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4	2028 Q1	2028 Q2
Net sales ¹	566,597	594,698	616,914	643,928	707,107	737,234	759,631	842,865	865,069	912,326	889,455	947,968	990,144	1,005,638	1,025,758	989,733	1,007,236	1,062,257	990,539	1,068,141	1,051,176	1,016,127	1,028,146	1,068,795	1,055,287	1,085,667	1,082,743	1,127,486
Change	-	4.96%	3.74%	4.38%	9.81%	4.26%	3.04%	10.96%	2.63%	5.46%	-2.51%	6.58%	4.45%	1.56%	2%	-3.51%	1.77%	5.46%	-6.75%	7.83%	-1.59%	-3.33%	1.18%	3.95%	-1.26%	2.88%	-0.27%	4.13%
EBITDA	101,466	92,892	113,241	92,775	56,602	78,260	-	-	-	97,412	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-8.45%	21.91%	-18.07%	-38.99%	38.26%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	48,950	39,008	57,493	36,874	41,925	22,774	43,611	48,399	46,678	31,216	52,509	69,543	78,859	-507	67,896	58,418	54,639	41,837	52,400	-14,874	50,801	31,315	62,533	63,539	54,299	35,769	68,076	77,122
Change	-	-20.31%	47.39%	-35.86%	13.7%	-45.68%	91.49%	10.98%	-3.56%	-33.12%	68.21%	32.44%	13.4%	-100.64%	13,491.72%	-13.96%	-6.47%	-23.43%	25.25%	-128.39%	441.55%	-38.36%	99.69%	1.61%	-14.54%	-34.13%	90.32%	13.29%
Charge d'intérêts	-3,204	-	-1,682	-1,841	-1,537	-2,222	-2,327	-	-3,988	-	-4,892	-	-8,654	-	-4,618	-	-	-	-6,388	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	79,631	39,168	101,302	36,499	81,709	26,613	91,711	53,247	85,125	32,884	111,609	68,923	121,727	6,931	139,888	52,952	119,828	38,795	121,094	-13,957	109,414	31,373	131,302	61,748	118,025	33,988	136,877	75,366
Change	-	-50.81%	158.63%	-63.97%	123.87%	-67.43%	244.61%	-41.94%	59.87%	-61.37%	239.4%	-38.25%	76.61%	-94.31%	1,918.29%	-62.15%	126.3%	-67.62%	212.14%	-111.53%	883.93%	-71.33%	318.52%	-52.97%	91.14%	-71.2%	302.72%	-44.94%
Net income ¹	61,742	26,850	77,598	25,788	59,398	17,522	71,623	35,265	62,340	23,633	86,978	51,830	91,993	-2,023	111,206	36,215	100,961	13,930	102,452	-11,335	83,925	23,080	103,461	43,462	93,168	23,459	107,424	53,213
Change	-	-56.51%	189.01%	-66.77%	130.33%	-70.5%	308.76%	-50.76%	76.78%	-62.09%	268.04%	-40.41%	77.49%	-102.2%	5,597.08%	-67.43%	178.78%	-86.2%	635.48%	-111.06%	840.41%	-72.5%	348.27%	-57.99%	114.37%	-74.82%	357.92%	-50.46%
Announcement Date	2/2/21	4/28/21	7/30/21	10/29/21	2/2/22	4/28/22	7/29/22	10/28/22	2/3/23	4/27/23	7/28/23	10/31/23	2/2/24	4/26/24	7/31/24	10/31/24	1/31/25	4/25/25	7/31/25	10/31/25	-	-	-	-	-	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2022 S1	2023 S1	2024 S1	2024 S2	2025 S1	2025 S2	2026 S1
Net sales ¹	1,260,842	1,602,496	1,837,423	1,995,782	2,015,491	2,069,493	2,058,680
Change	-	27.1%	14.66%	8.62%	0.99%	2.68%	-0.52%
EBITDA	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-
EBIT ¹	94,367	92,010	122,052	78,352	126,314	93,075	37,526
Change	-	-2.5%	32.65%	-35.8%	61.21%	-26.31%	-59.68%
Charge d'intérêts ¹	-3,523	-5,422	-10,733	-	-10,815	-	-9,367
Earnings before Tax (EBT) ¹	137,801	144,958	180,532	128,658	192,840	158,623	107,137
Change	-	5.19%	24.54%	-28.73%	49.89%	-17.74%	-32.46%
Net income ¹	103,386	106,888	138,808	89,970	147,421	114,891	91,117
Change	-	3.39%	29.86%	-35.18%	63.86%	-22.07%	-20.69%
Announcement Date	10/29/21	10/28/22	10/31/23	4/26/24	10/31/24	4/25/25	10/31/25

¹JPY in Million

Estimates

Forecast Balance Sheet: Toyota Industries Corporation

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	1,107,114	1,143,430	1,496,408	1,209,416	1,261,880	1,201,065	1,098,039	1,007,174
Change	-	3.28%	30.87%	-19.18%	4.34%	-4.82%	-8.58%	-8.28%
Announcement Date	4/28/21	4/28/22	4/27/23	4/26/24	4/25/25	-	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: Toyota Industries Corporation

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	222,360	237,371	289,974	348,926	211,032	218,750	230,964	212,000
Change	-	6.75%	22.16%	20.33%	-39.52%	3.66%	5.58%	-8.21%
Free Cash Flow (FCF) ¹	-21,778	83,714	-232,678	441,122	128,175	214,929	149,833	148,804
Change	-	484.4%	-377.94%	289.58%	-70.94%	67.68%	-30.29%	-0.69%
Announcement Date	4/28/21	4/28/22	4/27/23	4/26/24	4/25/25	-	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: Toyota Industries Corporation

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	15.48%	14.15%	12.65%	12.66%	13.36%	10.07%	11.78%	12.2%
EBIT Margin (%)	5.58%	5.88%	5.03%	5.23%	5.43%	4.22%	5.38%	5.7%
EBT Margin (%)	8.69%	9.1%	7.78%	8.07%	8.6%	7.12%	8.51%	8.82%
Net margin (%)	6.45%	6.67%	5.71%	5.97%	6.42%	5.17%	6.2%	6.45%
FCF margin (%)	-1.03%	3.09%	-6.88%	11.51%	3.14%	5.22%	3.5%	3.36%
FCF / Net Income (%)	-15.93%	46.43%	-120.65%	192.82%	48.86%	100.86%	56.46%	52.02%
Profitability
ROA	3.12%	3.48%	3.4%	3.27%	3.43%	2.33%	2.62%	2.75%
ROE	4.8%	5%	5%	4.6%	4.8%	4.33%	4.95%	5.15%
Financial Health
Leverage (Debt/EBITDA)	3.38x	2.99x	3.5x	2.49x	2.31x	2.9x	2.18x	1.86x
Debt / Free cash flow	-50.84x	13.66x	-6.43x	2.74x	9.84x	5.59x	7.33x	6.77x
Capital Intensity
CAPEX / Current Assets (%)	10.5%	8.77%	8.58%	9.1%	5.17%	5.31%	5.4%	4.78%
CAPEX / EBITDA (%)	67.79%	62.01%	67.8%	71.89%	38.67%	52.76%	45.85%	39.21%
CAPEX / FCF (%)	-1,021.03%	283.55%	-124.62%	79.1%	164.64%	101.78%	154.15%	142.47%
Items per share
Cash flow per share ¹	1,116	1,301	1,451	1,655	1,916	1,483	1,586	1,421
Change	-	16.59%	11.53%	14%	15.78%	-22.59%	6.98%	-10.4%
Dividend per Share ¹	150	170	190	240	280	271.7	302.5	322.5
Change	-	13.33%	11.76%	26.32%	16.67%	-2.98%	11.35%	6.61%
Book Value Per Share ¹	10,423	12,653	12,360	19,472	16,273	17,236	17,839	18,561
Change	-	21.4%	-2.32%	57.55%	-16.43%	5.92%	3.5%	4.05%
EPS ¹	440.3	580.7	621.2	736.9	857	732.9	892.2	967.4
Change	-	31.9%	6.96%	18.62%	16.3%	-14.48%	21.73%	8.43%
Nbr of stocks (in thousands)	310,483	310,480	310,479	310,478	303,043	300,474	300,474	300,474
Announcement Date	4/28/21	4/28/22	4/27/23	4/26/24	4/25/25	-	-	-