Company Valuation: Toyota Tsusho Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 1,634,308 1,780,345 1,977,479 3,612,015 2,631,773 6,687,292 - -
Change - 8.94% 11.07% 82.66% -27.14% 154.1% - -
Enterprise Value (EV) 1 2,460,950 2,915,384 3,325,207 4,721,378 3,533,703 7,776,301 8,149,584 8,149,685
Change - 18.47% 14.06% 41.99% -25.16% 120.06% 4.8% 0%
P/E ratio 12.1x 8.01x 6.96x 10.9x 7.26x 17.8x 14.8x 13.6x
PBR 1.11x 1.03x 1.03x 1.46x 1x 2.23x 2.13x 1.93x
PEG - 0.1x 0.2x 0.7x 0.77x 5.2x 0.7x 1.5x
Capitalization / Revenue 0.26x 0.22x 0.2x 0.35x 0.26x 0.61x 0.59x 0.55x
EV / Revenue 0.39x 0.36x 0.34x 0.46x 0.34x 0.71x 0.72x 0.67x
EV / EBITDA 7.75x 7.2x 6.42x 8.12x 5.44x 11.5x 11.4x 11.1x
EV / EBIT 11.6x 9.91x 8.55x 10.7x 7.11x 14.7x 14.5x 13.6x
EV / FCF 28.1x -27.2x 10.9x 16.4x 13x 38.9x 22.7x 28.5x
FCF Yield 3.56% -3.68% 9.15% 6.12% 7.68% 2.57% 4.4% 3.51%
Dividend per Share 2 37.33 53.33 67.33 93.33 105 116 139 161.5
Rate of return 2.41% 3.16% 3.59% 2.73% 4.21% 1.83% 2.19% 2.55%
EPS 2 127.5 210.5 269.2 314 343.4 355.1 427.7 466.4
Distribution rate 29.3% 25.3% 25% 29.7% 30.6% 32.7% 32.5% 34.6%
Net sales 1 6,309,303 8,028,000 9,848,560 10,188,980 10,309,550 11,020,750 11,343,575 12,167,800
EBITDA 1 317,407 405,026 517,737 581,761 649,760 678,823 712,218 736,266
EBIT 1 213,058 294,141 388,753 441,589 497,174 530,800 561,688 598,560
Net income 1 134,602 222,235 284,155 331,444 362,506 370,600 404,167 435,000
Net Debt 1 826,642 1,135,039 1,347,728 1,109,363 901,930 1,089,010 1,462,292 1,462,393
Reference price 2 1,548.33 1,686.67 1,873.33 3,421.67 2,493.00 6,334.00 6,334.00 6,334.00
Nbr of stocks (in thousands) 1,055,527 1,055,541 1,055,594 1,055,630 1,055,665 1,055,777 - -
Announcement Date 4/28/21 4/28/22 4/27/23 4/26/24 4/28/25 - - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.84x0.71x11.46x1.83% 42.59B
24.51x1.19x24.28x2.34% 111B
17.79x1.33x23.44x2.22% 93.88B
16.03x1.14x14.02x1.98% 92.45B
17.17x1.43x23.99x1.82% 59.18B
12.95x1.46x17.39x2.28% 46.79B
22.03x1.12x10.4x0.92% 32.26B
46.1x3.57x20.87x0.05% 31.77B
15.82x0.79x8.22x3.46% 9.43B
40.67x3.87x21.98x1.09% 9.8B
Average 23.09x 1.66x 17.60x 1.8% 52.9B
Weighted average by Cap. 20.75x 1.40x 19.28x 1.92%
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Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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