Cash flow Toyota Tsusho Corporation

Equities

8015

JP3635000007

Diversified Industrial Goods Wholesale

Market Closed - Japan Exchange Other stock markets 01:30:00 2026-02-13 am EST			5-day change	1st Jan Change
6,858.00 ^JPY	-0.78%		+8.27%	+30.03%

Feb. 12	Toyota extends bid for group forklift maker after Elliott's opposition	RE
Feb. 12	Toyota extends bid for group forklift maker after Elliott's opposition	RE

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Published financial data: TOYOTA TSUSHO CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	6,309B	8,028B	9,849B	10,189B	10,310B
Other Revenues, Total	1M	-	-	1M	-
Total Revenues	6,309B	8,028B	9,849B	10,189B	10,310B
Cost of Goods Sold, Total	5,702B	7,269B	8,880B	9,137B	9,188B
Gross Profit	608B	759B	969B	1,052B	1,121B
Selling General & Admin Expenses, Total	349B	396B	473B	524B	554B
Provision for Bad Debts	-	-	-	-	-
Depreciation & Amortization - (IS)	51.2B	54.7B	59.26B	59.98B	62.39B
Amortization of Goodwill and Intangible Assets - (IS)	-	-	-	-	-
Other Operating Expenses	-5.62B	9.06B	32.11B	20.74B	4.36B
Other Operating Expenses, Total	394B	459B	565B	604B	621B
Operating Income	213B	300B	404B	448B	500B
Interest Expense, Total	-24.71B	-26.65B	-46.93B	-60.89B	-56.86B
Interest And Investment Income	24.52B	28.04B	48.23B	56.72B	63.24B
Net Interest Expenses	-185M	1.39B	1.3B	-4.17B	6.38B
Income (Loss) On Equity Invest.	7.52B	20.69B	37.2B	25.85B	16.66B
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	1.03B	13.91B	-134M	6.37B	16.65B
EBT, Excl. Unusual Items	222B	336B	442B	476B	540B
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	1.35B	662M	674M	3.31B	690M
Asset Writedown	-1.45B	-6.4B	-15.93B	-9.65B	-3.49B
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	221B	330B	427B	470B	537B
Income Tax Expense	64.98B	81.53B	112B	129B	149B
Earnings From Continuing Operations	156B	249B	315B	340B	388B
Net Income to Company	156B	249B	315B	340B	388B
Minority Interest	-21.84B	-26.36B	-30.58B	-8.8B	-25.74B
Net Income - (IS)	135B	222B	284B	331B	363B
Net Income to Common Incl Extra Items	135B	222B	284B	331B	363B
Net Income to Common Excl. Extra Items	135B	222B	284B	331B	363B
Per Share Items
Net EPS - Basic	127.52	210.54	269.19	313.98	343.4
Basic EPS - Continuing Operations	127.52	210.54	269.19	313.98	343.4
Basic Weighted Average Shares Outstanding	1.06B	1.06B	1.06B	1.06B	1.06B
Net EPS - Diluted	127.52	210.54	269.19	313.98	343.4
Diluted EPS - Continuing Operations	127.52	210.54	269.19	313.98	343.4
Diluted Weighted Average Shares Outstanding	1.06B	1.06B	1.06B	1.06B	1.06B
Normalized Basic EPS	110.47	173.9	232.96	273.47	295.12
Normalized Diluted EPS	110.47	173.9	232.96	273.47	295.12
Dividend Per Share	37.33	53.33	67.33	93.33	105
Payout Ratio	26.15	20.91	23.05	24.54	29.62
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	318B	411B	533B	588B	653B
EBITA	213B	300B	404B	448B	500B
EBIT	213B	300B	404B	448B	500B
EBITDAR	328B	421B	544B	601B	666B
Effective Tax Rate - (Ratio)	29.35	24.7	26.31	27.55	27.68
Normalized Net Income	117B	184B	246B	289B	312B
Non-Cash Pension Expense	996M	831M	1.41B	2.71B	2.09B
Supplemental Operating Expense Items
Selling and Marketing Expenses	41.73B	48.16B	60.26B	69.7B	79.57B
Research And Development Expense From Footnotes	-	-	-	-	-
Net Rental Expense, Total	10.39B	10.42B	10.94B	12.88B	13.9B
Imputed Operating Lease Interest Expense	1.23B	1.21B	2.02B	2.97B	3.11B
Imputed Operating Lease Depreciation	9.16B	9.21B	8.92B	9.91B	10.79B

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	677B	653B	772B	879B	952B
Total Cash And Short Term Investments	677B	653B	772B	879B	952B
Accounts Receivable, Total	1,405B	1,797B	1,730B	1,798B	1,825B
Total Receivables	1,405B	1,797B	1,730B	1,798B	1,825B
Inventory	841B	1,161B	1,227B	1,204B	1,198B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	300B	347B	339B	316B	266B
Total Current Assets	3,223B	3,958B	4,069B	4,197B	4,241B
Net Property Plant And Equipment	841B	942B	1,004B	1,139B	1,185B
Long-term Investments	982B	1,034B	1,083B	1,399B	1,305B
Goodwill	76.96B	82.01B	113B	199B	207B
Other Intangibles, Total	85.58B	100B	71.24B	76.41B	69.03B
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	19.77B	27.07B	36.84B	49.82B	50.96B
Other Long-Term Assets, Total	5M	5M	4M	5M	5M
Total Assets	5,228B	6,143B	6,377B	7,060B	7,057B
Liabilities
Accounts Payable, Total	1,318B	1,704B	1,637B	1,644B	1,629B
Accrued Expenses, Total	-	-	-	-	-
Short-term Borrowings	434B	569B	580B	396B	351B
Current Portion of Long-Term Debt	138B	172B	167B	230B	214B
Current Portion of Leases	-	-	-	-	-
Current Income Taxes Payable	24.68B	31.55B	49.13B	57.11B	70.55B
Deferred Tax Liability Current	-	-	-	-	-
Other Current Liabilities	234B	249B	244B	268B	290B
Total Current Liabilities	2,149B	2,726B	2,677B	2,596B	2,555B
Long-Term Debt	1,157B	1,202B	1,373B	1,474B	1,398B
Long-Term Leases	-	-	-	-	-
Pension & Other Post Retirement Benefits	43.37B	44.36B	46.15B	42.05B	44.07B
Deferred Tax Liability Non Current	116B	113B	121B	202B	187B
Other Non Current Liabilities	105B	115B	91.87B	126B	127B
Total Liabilities	3,570B	4,200B	4,309B	4,440B	4,312B
Common Stock, Total	64.94B	64.94B	64.94B	64.94B	64.94B
Additional Paid In Capital	147B	156B	43.81B	43.12B	29.65B
Retained Earnings	1,125B	1,300B	1,527B	1,820B	2,081B
Treasury Stock	-3.76B	-3.77B	-3.75B	-3.77B	-3.77B
Comprehensive Income and Other	136B	217B	283B	543B	452B
Total Common Equity	1,470B	1,735B	1,914B	2,467B	2,624B
Minority Interest	188B	208B	154B	153B	122B
Total Equity	1,658B	1,943B	2,069B	2,620B	2,746B
Total Liabilities And Equity	5,228B	6,143B	6,377B	7,060B	7,057B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.06B	1.06B	1.06B	1.06B	1.06B
ECS Total Common Shares Outstanding	1.06B	1.06B	1.06B	1.06B	1.06B
Book Value / Share	1.39K	1.64K	1.81K	2.34K	2.49K
Tangible Book Value	1,307B	1,553B	1,730B	2,192B	2,348B
Tangible Book Value Per Share	1.24K	1.47K	1.64K	2.08K	2.22K
Total Debt	1,728B	1,943B	2,119B	2,100B	1,963B
Net Debt	1,051B	1,290B	1,348B	1,221B	1,011B
Debt Equivalent of Unfunded Proj. Benefit Obligation	25.55B	19.87B	20.95B	-6.47B	-4.49B
Debt Equivalent Oper. Leases	83.12B	83.34B	87.54B	103B	111B
Minority Interest, Total (Incl. Fin. Div)	188B	208B	154B	153B	122B
Equity Method Investments, Total	269B	274B	299B	353B	374B
Inventories - Raw Materials, Total	30.38B	48.65B	59B	53.82B	48.88B
Inventories - Work In Process, Total	9.73B	12.25B	15.95B	11.59B	8.15B
Inventories - Finished Goods, Total	801B	1,100B	1,152B	1,138B	1,141B
Inventories - Others	1M	-	1M	1M	1M
Full Time Employees	64.4K	65.22K	66.94K	69.52K	69.11K
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	221B	330B	427B	470B	537B
Depreciation & Amortization - CF	104B	111B	129B	140B	153B
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	104B	111B	129B	140B	153B
(Gain) Loss From Sale Of Asset	98M	5.74B	15.26B	6.34B	2.8B
(Income) Loss On Equity Investments - (CF)	-7.52B	-20.69B	-37.2B	-25.85B	-16.66B
Other Operating Activities, Total	-53.74B	-97.72B	-82B	-99.49B	-114B
Change In Accounts Receivable	-126B	-318B	129B	8.18B	-25.63B
Change In Inventories	-29.53B	-261B	-3.85B	121B	-11.84B
Change In Accounts Payable	140B	307B	-132B	-126B	10.95B
Change in Other Net Operating Assets	-4.08B	-5.72B	-1.21B	49.07B	-22.9B
Cash from Operations	245B	50.14B	444B	542B	512B
Capital Expenditure	-124B	-136B	-161B	-175B	-181B
Sale of Property, Plant, and Equipment	16.54B	10.35B	17.17B	25.8B	13.96B
Cash Acquisitions	-86M	-633M	-4.56B	-94.34B	-21.54B
Divestitures	-250M	370M	7.04B	7.52B	2.89B
Sale (Purchase) of Intangible assets	-12.74B	-31.3B	-19.77B	-23.26B	-17.98B
Investment in Marketable and Equity Securities, Total	11.85B	-9.93B	11.8B	28.15B	90.64B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-2.11B	-1.08B	399M	6.1B	-3.08B
Other Investing Activities, Total	8.95B	10.66B	8.99B	5.47B	-7.85B
Cash from Investing	-102B	-157B	-140B	-220B	-124B
Short Term Debt Issued, Total	44.07B	94.34B	-	-	-
Long-Term Debt Issued, Total	180B	179B	278B	277B	159B
Total Debt Issued	224B	273B	278B	277B	159B
Short Term Debt Repaid, Total	-	-	-11.03B	-219B	-36.14B
Long-Term Debt Repaid, Total	-122B	-139B	-167B	-182B	-234B
Total Debt Repaid	-122B	-139B	-178B	-402B	-270B
Repurchase of Common Stock	-25M	-31M	-20M	-55M	-22M
Common Dividends Paid	-35.2B	-46.47B	-65.48B	-81.33B	-107B
Common & Preferred Stock Dividends Paid	-35.2B	-46.47B	-65.48B	-81.33B	-107B
Other Financing Activities, Total	-42.85B	-42.75B	-241B	-56.86B	-90.62B
Cash from Financing	24.07B	44.9B	-207B	-263B	-309B
Foreign Exchange Rate Adjustments	14.15B	37.83B	20.9B	47.81B	-5.83B
Miscellaneous Cash Flow Adjustments	-	1M	-2M	-1M	-1M
Net Change in Cash	181B	-24.46B	119B	107B	73.18B
Supplemental Items
Cash Interest Paid	24.45B	26.25B	45.33B	59.97B	52.69B
Cash Income Tax Paid (Refund)	65.05B	102B	115B	135B	129B
Levered Free Cash Flow	63.34B	-237B	124B	202B	280B
Unlevered Free Cash Flow	78.78B	-220B	154B	240B	316B
Change In Net Working Capital	21.72B	352B	47.01B	-18.27B	-49.7B
Net Debt Issued / Repaid	102B	134B	99.69B	-125B	-111B

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	2.73	3.3	4.03	4.17	4.43
Return on Total Capital	4.18	5.15	6.26	6.29	6.63
Return On Equity %	10.32	13.81	15.69	14.51	14.47
Return on Common Equity	10.1	13.87	15.57	15.13	14.24
Margin Analysis
Gross Profit Margin %	9.63	9.46	9.84	10.33	10.87
SG&A Margin	5.53	4.93	4.81	5.14	5.38
EBITDA Margin %	5.03	5.12	5.41	5.77	6.33
EBITA Margin %	3.38	3.74	4.1	4.4	4.85
EBIT Margin %	3.38	3.74	4.1	4.4	4.85
Income From Continuing Operations Margin %	2.48	3.1	3.2	3.34	3.77
Net Income Margin %	2.13	2.77	2.89	3.25	3.52
Net Avail. For Common Margin %	2.13	2.77	2.89	3.25	3.52
Normalized Net Income Margin	1.85	2.29	2.5	2.83	3.02
Levered Free Cash Flow Margin	1	-2.95	1.26	1.98	2.72
Unlevered Free Cash Flow Margin	1.25	-2.75	1.56	2.36	3.06
Asset Turnover
Asset Turnover	1.29	1.41	1.57	1.52	1.46
Fixed Assets Turnover	7.78	9.01	10.12	9.51	8.87
Receivables Turnover (Average Receivables)	4.75	5.01	5.58	5.78	5.69
Inventory Turnover (Average Inventory)	7.02	7.26	7.44	7.52	7.65
Short Term Liquidity
Current Ratio	1.5	1.45	1.52	1.62	1.66
Quick Ratio	0.97	0.9	0.93	1.03	1.09
Operating Cash Flow to Current Liabilities	0.11	0.02	0.17	0.21	0.2
Days Sales Outstanding (Average Receivables)	76.86	72.79	65.37	63.37	64.13
Days Outstanding Inventory (Average Inventory)	51.99	50.26	49.09	48.69	47.71
Average Days Payable Outstanding	77.92	72.69	68.16	65.88	65.05
Cash Conversion Cycle (Average Days)	50.93	50.36	46.29	46.18	46.79
Long Term Solvency
Total Debt/Equity	104.25	99.99	102.46	80.15	71.5
Total Debt / Total Capital	51.04	50	50.61	44.49	41.69
LT Debt/Equity	69.78	61.86	66.36	56.24	50.92
Long-Term Debt / Total Capital	34.16	30.93	32.78	31.22	29.69
Total Liabilities / Total Assets	68.29	68.37	67.56	62.89	61.09
EBIT / Interest Expense	8.63	11.25	8.61	7.36	8.79
EBITDA / Interest Expense	12.85	15.41	11.36	9.66	11.48
(EBITDA - Capex) / Interest Expense	7.82	10.32	7.93	6.78	8.3
Total Debt / EBITDA	5.44	4.73	3.98	3.57	3.01
Net Debt / EBITDA	3.31	3.14	2.53	2.08	1.55
Total Debt / (EBITDA - Capex)	8.95	7.06	5.7	5.08	4.16
Net Debt / (EBITDA - Capex)	5.44	4.69	3.62	2.96	2.14
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-5.75	27.24	22.68	3.46	1.18
Gross Profit, 1 Yr. Growth %	-5.04	24.95	27.61	8.62	6.53
EBITDA, 1 Yr. Growth %	1.2	29.37	29.76	10.34	10.96
EBITA, 1 Yr. Growth %	1.41	40.69	34.72	10.87	11.62
EBIT, 1 Yr. Growth %	1.41	40.69	34.72	10.87	11.62
Earnings From Cont. Operations, 1 Yr. Growth %	0.42	58.9	26.6	8.1	14.11
Net Income, 1 Yr. Growth %	-0.7	65.11	27.86	16.64	9.37
Normalized Net Income, 1 Yr. Growth %	-2.95	57.41	33.97	17.4	7.92
Diluted EPS Before Extra, 1 Yr. Growth %	-0.7	65.1	27.86	16.64	9.37
Accounts Receivable, 1 Yr. Growth %	12.21	27.91	-3.71	3.89	1.51
Inventory, 1 Yr. Growth %	7.29	38.1	5.72	-1.93	-0.45
Net Property, Plant and Equip., 1 Yr. Growth %	7.66	12.04	6.6	13.46	4.03
Total Assets, 1 Yr. Growth %	15.02	17.5	3.81	10.71	-0.04
Tangible Book Value, 1 Yr. Growth %	26.23	18.8	11.43	26.69	7.12
Common Equity, 1 Yr. Growth %	22.82	18.06	10.34	28.88	6.37
Cash From Operations, 1 Yr. Growth %	-8.5	-79.54	786.15	22.02	-5.58
Capital Expenditures, 1 Yr. Growth %	19.77	9.2	18.57	8.73	3.33
Levered Free Cash Flow, 1 Yr. Growth %	-42.33	-474.32	-152.47	62.41	38.77
Unlevered Free Cash Flow, 1 Yr. Growth %	-38.69	-379.81	-169.74	56.18	31.58
Dividend Per Share, 1 Yr. Growth %	1.82	42.86	26.25	38.61	12.5
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-3.41	9.51	24.94	12.66	2.31
Gross Profit, 2 Yr. CAGR %	-2.44	8.93	26.27	17.73	7.57
EBITDA, 2 Yr. CAGR %	3.69	14.42	29.56	19.65	10.65
EBITA, 2 Yr. CAGR %	-1.41	19.45	37.67	22.22	11.24
EBIT, 2 Yr. CAGR %	-1.41	19.45	37.67	22.22	11.24
Earnings From Cont. Operations, 2 Yr. CAGR %	0.55	26.32	41.84	16.99	11.07
Net Income, 2 Yr. CAGR %	0.74	28.04	45.3	22.12	12.95
Normalized Net Income, 2 Yr. CAGR %	-2.91	23.6	45.22	25.41	12.56
Diluted EPS Before Extra, 2 Yr. CAGR %	0.75	28.04	45.29	22.12	12.94
Accounts Receivable, 2 Yr. CAGR %	0.25	19.8	10.98	0.02	2.69
Inventory, 2 Yr. CAGR %	6.22	21.72	20.83	1.82	-1.2
Net Property, Plant and Equip., 2 Yr. CAGR %	17.14	9.83	9.29	9.98	8.64
Total Assets, 2 Yr. CAGR %	8.49	16.26	10.44	7.2	5.2
Tangible Book Value, 2 Yr. CAGR %	12.19	22.46	15.06	18.81	16.5
Common Equity, 2 Yr. CAGR %	10.86	20.41	14.13	19.25	17.08
Cash From Operations, 2 Yr. CAGR %	7.82	-56.73	34.65	228.83	7.34
Capital Expenditures, 2 Yr. CAGR %	19.56	14.36	13.79	13.54	6
Levered Free Cash Flow, 2 Yr. CAGR %	7.31	46.93	40.14	-7.69	50.13
Unlevered Free Cash Flow, 2 Yr. CAGR %	4.67	30.97	39.69	4.36	43.35
Dividend Per Share, 2 Yr. CAGR %	5.83	20.6	34.3	32.29	24.88
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-0.94	5.88	13.74	17.32	8.7
Gross Profit, 3 Yr. CAGR %	0.07	5.95	14.83	20.09	13.87
EBITDA, 3 Yr. CAGR %	4.5	11.63	19.32	22.81	16.68
EBITA, 3 Yr. CAGR %	2.49	10.99	24.34	28.09	18.58
EBIT, 3 Yr. CAGR %	2.49	10.99	24.34	28.09	18.58
Earnings From Cont. Operations, 3 Yr. CAGR %	1.32	17.12	26.42	29.56	16.02
Net Income, 3 Yr. CAGR %	1.11	18.78	27.98	35.04	17.72
Normalized Net Income, 3 Yr. CAGR %	-1.09	14.06	26.96	35.28	19.29
Diluted EPS Before Extra, 3 Yr. CAGR %	1.11	18.78	27.98	35.03	17.71
Accounts Receivable, 3 Yr. CAGR %	1.54	8.73	11.39	8.57	0.51
Inventory, 3 Yr. CAGR %	8.61	15.93	16.13	12.71	1.06
Net Property, Plant and Equip., 3 Yr. CAGR %	12.5	15.42	8.74	10.66	7.96
Total Assets, 3 Yr. CAGR %	6.65	11.42	11.95	10.53	4.73
Tangible Book Value, 3 Yr. CAGR %	9.05	14.35	18.66	18.81	14.78
Common Equity, 3 Yr. CAGR %	7.75	13.21	16.95	18.85	14.79
Cash From Operations, 3 Yr. CAGR %	4.44	-38.04	18.38	30.3	116.94
Capital Expenditures, 3 Yr. CAGR %	24.78	16.01	15.75	12.08	10.03
Levered Free Cash Flow, 3 Yr. CAGR %	-15.5	62.74	4.24	47.2	5.75
Unlevered Free Cash Flow, 3 Yr. CAGR %	-13.49	45.27	6.16	44.99	12.74
Dividend Per Share, 3 Yr. CAGR %	6.01	16.96	22.46	35.72	25.33
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-5.04	6.73	8.7	8.54	9.02
Gross Profit, 5 Yr. CAGR %	-0.27	5.87	9.83	10.51	11.87
EBITDA, 5 Yr. CAGR %	4.26	11.88	13.89	14.77	15.77
EBITA, 5 Yr. CAGR %	3.82	13.64	15.33	15.35	18.92
EBIT, 5 Yr. CAGR %	8.72	13.64	15.33	15.35	18.92
Earnings From Cont. Operations, 5 Yr. CAGR %	46.43	14.14	15.92	17.07	20.04
Net Income, 5 Yr. CAGR %	25.22	15.55	16.89	20.1	21.74
Normalized Net Income, 5 Yr. CAGR %	14.37	17.21	15.33	18.47	20.99
Diluted EPS Before Extra, 5 Yr. CAGR %	25.22	15.55	16.89	20.11	21.74
Accounts Receivable, 5 Yr. CAGR %	3.81	6.31	5.22	5.16	7.82
Inventory, 5 Yr. CAGR %	7.7	13.97	13.34	10.07	8.86
Net Property, Plant and Equip., 5 Yr. CAGR %	7.04	9.6	11.21	13.21	8.7
Total Assets, 5 Yr. CAGR %	5.76	7.84	8.15	9.71	9.2
Tangible Book Value, 5 Yr. CAGR %	16.28	12.53	11.41	16.11	17.79
Common Equity, 5 Yr. CAGR %	10.58	10.55	10.26	15.59	17.01
Cash From Operations, 5 Yr. CAGR %	-4.49	-20.69	15.61	20.79	13.83
Capital Expenditures, 5 Yr. CAGR %	3	12.77	20.26	15.01	11.74
Levered Free Cash Flow, 5 Yr. CAGR %	-21.5	118.42	3.45	29.72	20.62
Unlevered Free Cash Flow, 5 Yr. CAGR %	-19.3	80.47	4.79	27.27	19.71
Dividend Per Share, 5 Yr. CAGR %	12.56	17.98	16.53	22.87	23.42