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¥3,031
Market Capi
¥36T
Growth-adj P/E (3-yr hist)i
0.7x
Growth-adj P/E (3-yr proj)i
1.7x
P/S 27Ei
0.7x
P/S 29Ei
0.6x
EV/EBIT 27Ei
17x
EV/EBIT 29Ei
14x
P/E 27Ei
9.7x
P/E 29Ei
8.0x
P/S 27Ei
0.7x
EV/EBIT 27Ei
17x
P/E 27Ei
9.7x
P/S 29Ei
0.6x
EV/EBIT 29Ei
14x
P/E 29Ei
8.0x
Revenue
2027E
¥54T
Gross Margini
17%
Hist. CAGRi
11%
Proj. CAGRi
4.1%
EBIT
2027E
¥4.0T
Op. Margini
7.4%
Hist. CAGRi
11%
Proj. CAGRi
9.6%
Net profit
2027E
¥3.8T
Net Margini
7.6%
Hist. CAGRi
16%
Proj. CAGRi
4.6%
Business Model
Recent Developments
Average Targeti
¥3,704+22%
Consensusi
Buy
19 analysts covering
Net debti
¥30T
Div. Yieldi
3.4%
Buyback Yldi
0.2%
Market Capi
¥36T
P/E 27Ei
9.7x
Adj. P/E (fwd.)i
1.7x
Revenue 27E
¥54T
Proj. CAGRi
4.1%
Gross Margini
17%
EBIT 27E
¥4.0T
Proj. CAGRi
9.6%
Op. Margini
7.4%
Net Profit 27E
¥3.8T
Proj. CAGRi
4.6%
Net Margini
7.6%
Average Targeti
¥3,704+22%
Consensusi
Buy
19 analysts covering
Profile
Toyota is the world's largest automaker by volume, designing, manufacturing, and selling passenger cars, SUVs, trucks, and minivans under the Toyota, Lexus, GR, and Daihatsu brands, alongside parts and accessories. The company operates through three reportable segments:
Industry
Toyota sells primarily to retail consumers and fleet buyers across every major market, with particularly strong positions in Japan, North America, and Asia-Pacific. The global automotive industry is highly cyclical and capital-intensive, with intense competition from legacy OEMs and a growing cohort of EV-native entrants. Toyota's scale — nearly 9.6 million vehicles sold in FY2026 — provides meaningful cost leverage, though pricing power is constrained in volume segments by competitive density.
Key metrics
Economic moat
Toyota's primary advantage is its hybrid powertrain IP and manufacturing scale, built over two decades since the original Prius. No competitor has matched its hybrid cost efficiency, giving Toyota a structural margin edge in a segment that continues to grow as consumers hedge between ICE and full EV. The Toyota Production System (lean manufacturing) delivers consistent quality and cost discipline across 70+ plants worldwide. Brand equity — particularly the reputation for long-term reliability — supports residual values and repeat purchase rates that are among the highest in mass-market automotive.
Akio Toyoda
Grandson of founder Kiichiro Toyoda, Akio served as President and CEO from 2009 to 2023, overseeing Toyota's rise to the world's top-selling automaker and its hybrid-first electrification strategy. He stepped into the Chairman role in April 2023, retaining significant cultural and strategic influence over the company's long-term direction. His personal passion for motorsport drove the creation of the GR performance sub-brand and the GAZOO Racing programme, which now informs the full product range.
Kenta Kon
Kon became President and CEO on April 1, 2026, replacing Koji Sato after just three years. Kon joined Toyota in 1991 and built his career primarily in finance and accounting, most recently serving simultaneously as COO and CFO; he also held the CFO role at Woven by Toyota, the company's software and technology subsidiary. His appointment signals a shift in emphasis toward financial discipline and cost management as Toyota navigates the tariff-driven earnings compression of FY2026–27.
Koji Sato
Sato, an engineer who led Lexus before becoming CEO in 2023, transitioned to Vice Chairman and a newly created Chief Industry Officer role when Kon took over. During his tenure he accelerated EV investment commitments and championed the multi-pathway electrification approach. He stepped down from Toyota's board of directors at the June 2026 shareholders' meeting, continuing his industry-facing roles outside the boardroom.
Other key figures
Hiroki Nakajima (Executive Vice President, board member since 2023) leads technology and R&D, including EV platform development and solid-state battery programmes. Yoichi Miyazaki (Executive Vice President and CFO since 2026, board member since 2023) manages the company's treasury and financial services operations alongside the new CEO.
P/S Ratioi
EV/EBITi
P/E Ratioi
Revenue
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
EBIT
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
Net profit
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
Values in trillions of JPY.
Operating cashflow · Levered Free Cash Flow
Free Cash Flow
CAPEX
Values in trillions of JPY.
Margins
Rentability
Balance sheet
Values in trillions of JPY.
Liquidity ratios
Debt-to-Equity-Ratio
Last earnings
Toyota's fiscal Q1 2027 results (April–June 2026), reported August 4, 2026, showed revenue up 10.4% year over year to about ¥13.5 trillion and net income up 76% to roughly ¥1.48 trillion, well above analyst expectations.
The beat leaned on currency and one-off gains rather than core operations: operating income fell 8.8% to about ¥1.06 trillion, with margin narrowing to 7.9% from 9.5% a year earlier as U.S. tariffs and Middle East logistics disruptions weighed on results.
Management raised full-year profit and revenue guidance and announced a ¥1 trillion share buyback alongside cancellation of 1.37% of outstanding shares.
Recent developments
On July 27, 2026, Toyota agreed to join Volvo Group and Daimler Truck as an equal shareholder in the Cellcentric hydrogen fuel-cell joint venture, deepening its bet on heavy-duty fuel-cell technology.
On July 15, 2026, Toyota expanded its partnership with Nvidia, adding AI tools for factory digital twins, safety-critical software review, and an urban-intelligence model for its Woven City project.
The same week, Toyota previewed the redesigned Crown Crossover ahead of a planned launch, continuing its model-line refresh.
Debate & sentiment
Bulls see Toyota's multi-powertrain bet vindicated: electrified vehicles made up 55.3% of Toyota and Lexus sales in the quarter, with full-year hybrid volume tracking toward 5 million units for the first time.
Skeptics counter that the quarterly beat leaned on yen weakness and one-off gains—an equity-stake disposal and a subsidiary deconsolidation—rather than core operations, with automotive-segment operating income down 21% on tariff costs.
Even after the guidance raise, the fiscal 2027 outlook (¥3.4 trillion operating income, ¥3.25 trillion net income) still implies a year-over-year profit decline, underscoring that tariff pressure remains a multi-year drag despite the buyback's signal of confidence.
Consensusi
Buy
Average targeti
¥3,704+22%
Highest targeti
¥4,900+62%
Lowest targeti
¥2,930-3%
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