Toyota Motor Corp/
TM NYSE Motor Vehicles & Passenger Car Bodies Financials FY2020–FY2026
Last close · Oct 23, 2026
$196.79
0.7%
Revenue
Total sales reported in the income statement.
$336.2B
6.7%
vs prior year
Operating margin
Operating income as a share of revenue.
7.4%
2.6 pts
Net income
Profit after all expenses, interest and tax.
$25.5B
18.3%
Free cash flow
Cash from operations minus capital spending.
—
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
4.4%
1.0 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
$256.5B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
10.0x
On $19.59 EPS (TTM)
What Toyota Motor Corp/ does
No business description yet.
- Legal name
- TOYOTA MOTOR CORP/
- Fiscal year ends
- March 31, 2026
- Latest annual report
- 20-F · Jun 10, 2026
- Accession · CIK
- 0001193125-26-264811
0001094517
Revenue and margins
Toyota Motor Corp/ had $336.2B of revenue in fiscal 2026, up 6.7% on the year before.
FY20
Revenue $274.8B
FY21
Revenue $256.7B
FY22
Revenue $279.3B
FY23
Revenue $274.3B
FY24
Revenue $312.0B
FY25
Revenue $315.1B
FY26
Revenue $336.2B
Q3 '20
Revenue $70.0B
Q4 '20
Revenue $63.3B
Q3 '21
Revenue $78.0B
Q4 '21
Revenue $72.5B
FY20
Gross —
Operating 8.0%
Net 6.8%
FCF —
FY21
Gross —
Operating 8.1%
Net 8.3%
FCF —
FY22
Gross —
Operating 9.5%
Net 9.1%
FCF —
FY23
Gross —
Operating 7.3%
Net 6.6%
FCF —
FY24
Gross —
Operating 11.9%
Net 11.0%
FCF —
FY25
Gross —
Operating 10.0%
Net 9.9%
FCF —
FY26
Gross —
Operating 7.4%
Net 7.6%
FCF —
Gross
Operating
Net
FCF
Q3 '20
Gross —
Operating 8.4%
Net 7.4%
FCF —
Q4 '20
Gross —
Operating 5.2%
Net 4.7%
FCF —
Q3 '21
Gross —
Operating 12.1%
Net 10.3%
FCF —
Q4 '21
Gross —
Operating 9.0%
Net 10.1%
FCF —
Gross
Operating
Net
FCF
Net income and earnings per share
From fiscal 2020 to 2026, diluted EPS grew 6.7% a year. Loss periods are shown in red.
FY20
Net income $18.7B
FY21
Net income $21.2B
FY22
Net income $25.4B
FY23
Net income $18.1B
FY24
Net income $34.2B
FY25
Net income $31.3B
FY26
Net income $25.5B
Q3 '20
Net income $5.1B
Q4 '20
Net income $3.0B
Q3 '21
Net income $8.0B
Q4 '21
Net income $7.3B
FY20
Diluted EPS $13.25
FY21
Diluted EPS $14.99
FY22
Diluted EPS $18.27
FY23
Diluted EPS $13.25
FY24
Diluted EPS $25.32
FY25
Diluted EPS $23.59
FY26
Diluted EPS $19.59
Q3 '20
Diluted EPS $18.27
Q4 '20
Diluted EPS —
Q3 '21
Diluted EPS $28.36
Q4 '21
Diluted EPS —
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY20
Return on capital 4.8%
Return on equity 9.9%
Return on assets 3.8%
FY21
Return on capital 4.1%
Return on equity 10.6%
Return on assets 4.0%
FY22
Return on capital 5.0%
Return on equity 11.9%
Return on assets 4.5%
FY23
Return on capital 3.6%
Return on equity 8.4%
Return on assets 3.2%
FY24
Return on capital 6.6%
Return on equity 15.6%
Return on assets 5.9%
FY25
Return on capital 5.3%
Return on equity 13.4%
Return on assets 5.1%
FY26
Return on capital 4.4%
Return on equity 10.4%
Return on assets 4.0%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was — in fiscal 2026, — of revenue. Cash from operations minus capital spending.
FY20
Free cash flow —
FY21
Free cash flow —
FY22
Free cash flow —
FY23
Free cash flow —
FY24
Free cash flow —
FY25
Free cash flow —
FY26
Free cash flow —
FY20
Cash from operations $22.1B
Capital spending —
FY21
Cash from operations $25.7B
Capital spending —
FY22
Cash from operations $33.1B
Capital spending —
FY23
Cash from operations $21.8B
Capital spending —
FY24
Cash from operations $29.1B
Capital spending —
FY25
Cash from operations $24.3B
Capital spending —
FY26
Cash from operations $36.3B
Capital spending —
Cash from operations
Capital spending
Q3 '20
Cash from operations —
Capital spending —
Q4 '20
Cash from operations $3.6B
Capital spending —
Q3 '21
Cash from operations —
Capital spending —
Q4 '21
Cash from operations $8.4B
Capital spending —
Cash from operations
Capital spending
Dividends, buybacks and share count
Toyota Motor Corp/ returned $8.2B to shareholders in fiscal 2026. The diluted share count fell 1.7%.
FY20
Dividends $5.7B
Buybacks —
FY21
Dividends $5.9B
Buybacks —
FY22
Dividends $6.3B
Buybacks —
FY23
Dividends $5.4B
Buybacks —
FY24
Dividends $6.1B
Buybacks —
FY25
Dividends $7.4B
Buybacks —
FY26
Dividends $8.2B
Buybacks —
Dividends
Buybacks
Q3 '20
Dividends —
Buybacks —
Q4 '20
Dividends $0.0M
Buybacks —
Q3 '21
Dividends —
Buybacks —
Q4 '21
Dividends $0.0M
Buybacks —
Dividends
Buybacks
FY20
Diluted shares 1.40B
FY21
Diluted shares 1.40B
FY22
Diluted shares 1.39B
FY23
Diluted shares 1.37B
FY24
Diluted shares 1.35B
FY25
Diluted shares 1.33B
FY26
Diluted shares 1.30B
Balance sheet
Cash, debt and the ratios that show how comfortably Toyota Motor Corp/ can carry it.
FY20
Cash $37.8B
Debt $196.6B
FY21
Cash $46.0B
Debt $231.6B
FY22
Cash $50.2B
Debt $217.6B
FY23
Cash $56.4B
Debt $220.6B
FY24
Cash $62.3B
Debt $241.8B
FY25
Cash $60.1B
Debt $259.6B
FY26
Cash $79.4B
Debt $270.9B
Cash
Debt
| Fiscal year end | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash and short-term investments | $50.2B | $56.4B | $62.3B | $60.1B | $79.4B |
| Debt incl. finance leases | $217.6B | $220.6B | $241.8B | $259.6B | $270.9B |
| Net debt / EBITDA | 3.9x | 4.7x | 3.5x | 4.3x | 4.7x |
| Debt / equity | 1.0x | 1.0x | 1.1x | 1.1x | 1.1x |
| Interest coverage | 7.3x | 4.2x | 4.4x | 2.9x | 2.2x |
| Current ratio | 1.1x | 1.1x | 1.2x | 1.3x | 1.3x |
| Quick ratio | 0.9x | 0.9x | 1.0x | 1.1x | 1.1x |
| Total assets | $555.9B | $557.9B | $596.0B | $626.4B | $661.6B |
| Total liabilities | $332.9B | $338.2B | $363.0B | $379.6B | $404.4B |
| Shareholders' equity | $215.5B | $212.8B | $226.3B | $240.4B | $250.3B |
| Net debt (− = net cash) | $167.4B | $164.2B | $179.6B | $199.5B | $191.5B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✓ | ✓ | ✕ | ✓ | ✕ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ | ✕ | ✕ | ✓ |
| Debt fell relative to assets | — | ✕ | ✓ | ✕ | ✕ | ✕ | ✓ |
| Current ratio rose | — | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Share count didn't rise | — | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Gross margin rose | — | — | — | — | — | — | — |
| Revenue rose relative to assets | — | ✕ | ✓ | ✕ | ✓ | ✕ | ✓ |
| F-score | — / 3 | 6 / 8 | 8 / 8 | 5 / 8 | 6 / 8 | 4 / 8 | 7 / 8 |
| Accruals ratio | −0.7% | −0.9% | −1.4% | −0.7% | 0.9% | 1.1% | −1.7% |
| Altman Z'' | 2.40 | 2.30 | 2.46 | 2.37 | 2.66 | 2.79 | 2.67 |
7 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $274.8B | $256.7B | $279.3B | $274.3B | $312.0B | $315.1B | $336.2B |
| Research and development | $10.1B | $10.2B | $9.7B | $9.0B | $8.6B | $9.0B | $10.4B |
| Operating income | $22.1B | $20.7B | $26.7B | $20.1B | $37.0B | $31.5B | $25.0B |
| Interest expense | $4.8B | $4.4B | $3.7B | $4.8B | $8.4B | $10.9B | $11.3B |
| Pretax income | $25.7B | $27.7B | $35.5B | $27.1B | $48.2B | $42.1B | $34.2B |
| Income tax | $6.3B | $6.1B | $9.9B | $8.7B | $13.1B | $10.7B | $7.7B |
| Net income | $18.7B | $21.2B | $25.4B | $18.1B | $34.2B | $31.3B | $25.5B |
| Net income to common | $18.7B | $21.2B | $25.4B | $18.1B | $34.2B | $31.3B | $25.5B |
| Diluted EPS | $13.25 | $14.99 | $18.27 | $13.25 | $25.32 | $23.59 | $19.59 |
| Diluted shares | 1.40B | 1.40B | 1.39B | 1.37B | 1.35B | 1.33B | 1.30B |
| Cash flow | |||||||
| Cash from operations | $22.1B | $25.7B | $33.1B | $21.8B | $29.1B | $24.3B | $36.3B |
| Depreciation and amortization | $14.7B | $15.5B | $16.2B | $15.1B | $14.4B | $14.8B | $15.9B |
| Dividends paid | $5.7B | $5.9B | $6.3B | $5.4B | $6.1B | $7.4B | $8.2B |
| Dividends and buybacks | $5.7B | $5.9B | $6.3B | $5.4B | $6.1B | $7.4B | $8.2B |
| Balance sheet | |||||||
| Cash and short-term investments | $37.8B | $46.0B | $50.2B | $56.4B | $62.3B | $60.1B | $79.4B |
| Total debt | $196.6B | $231.6B | $217.6B | $220.6B | $241.8B | $259.6B | $270.9B |
| Current assets | $174.7B | $205.6B | $194.8B | $198.7B | $229.6B | $248.1B | $268.5B |
| Current liabilities | $167.2B | $193.7B | $179.4B | $179.9B | $193.0B | $197.0B | $210.7B |
| Inventory | $23.3B | $26.1B | $31.4B | $32.0B | $30.5B | $30.8B | $32.2B |
| Property and equipment, net | $97.1B | $103.0B | $101.2B | $94.9B | $94.3B | $102.6B | $107.0B |
| Total assets | $497.3B | $562.0B | $555.9B | $557.9B | $596.0B | $626.4B | $661.6B |
| Total liabilities | $300.7B | $342.8B | $332.9B | $338.2B | $363.0B | $379.6B | $404.4B |
| Shareholders' equity | $190.0B | $211.2B | $215.5B | $212.8B | $226.3B | $240.4B | $250.3B |
| Margins | |||||||
| Operating margin | 8.0% | 8.1% | 9.5% | 7.3% | 11.9% | 10.0% | 7.4% |
| EBITDA margin | 13.4% | 14.1% | 15.4% | 12.8% | 16.5% | 14.7% | 12.2% |
| Net margin | 6.8% | 8.3% | 9.1% | 6.6% | 11.0% | 9.9% | 7.6% |
| Returns | |||||||
| Return on capital | 4.8% | 4.1% | 5.0% | 3.6% | 6.6% | 5.3% | 4.4% |
| Return on capital employed | 6.7% | 5.6% | 7.1% | 5.3% | 9.2% | 7.3% | 5.5% |
| Return on equity | 9.9% | 10.6% | 11.9% | 8.4% | 15.6% | 13.4% | 10.4% |
| Return on assets | 3.8% | 4.0% | 4.5% | 3.2% | 5.9% | 5.1% | 4.0% |
| Return on tangible equity | 9.9% | 10.0% | 11.8% | 8.5% | 15.1% | 13.0% | 10.2% |
| Growth | |||||||
| Revenue growth | — | −6.6% | 8.8% | −1.8% | 13.8% | 1.0% | 6.7% |
| Net income growth | — | 13.1% | 19.8% | −28.7% | 89.1% | −8.6% | −18.3% |
| EPS growth | — | 13.1% | 21.9% | −27.5% | 91.1% | −6.8% | −17.0% |
| Share count change | — | −0.1% | −0.6% | −1.6% | −1.1% | −1.9% | −1.7% |
| Financial health | |||||||
| Net debt / EBITDA | 4.3x | 5.1x | 3.9x | 4.7x | 3.5x | 4.3x | 4.7x |
| Debt / equity | 1.0x | 1.1x | 1.0x | 1.0x | 1.1x | 1.1x | 1.1x |
| Interest coverage | 4.6x | 4.7x | 7.3x | 4.2x | 4.4x | 2.9x | 2.2x |
| Current ratio | 1.0x | 1.1x | 1.1x | 1.1x | 1.2x | 1.3x | 1.3x |
| Quick ratio | 0.9x | 0.9x | 0.9x | 0.9x | 1.0x | 1.1x | 1.1x |
| Quality scores | |||||||
| Piotroski F-score | — | 6.0 | 8.0 | 5.0 | 6.0 | 4.0 | 7.0 |
| Altman Z'' | 2.4 | 2.3 | 2.5 | 2.4 | 2.7 | 2.8 | 2.7 |
| Accruals ratio | −0.7% | −0.9% | −1.4% | −0.7% | 0.9% | 1.1% | −1.7% |
Source: SEC EDGAR XBRL filings (CIK 0001094517). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in JPY under IFRS and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. Per-share figures are per US-listed share (1 ADS = 10 ordinary shares). For information only — not investment advice. Check the original filings before relying on any figure.