Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Toyota Industries Corporation (6201.T)

Company Dividend Discount ModelIndustry: Auto - ManufacturersSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$5,227.43 - $7,525.16$6,348.01
Multi-Stage$4,681.23 - $5,074.60$4,874.54
Blended Fair Value$5,611.27
Current Price$16,640.00
Upside-66.28%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS11.69%10.65%285.91205.64185.07164.51154.23164.51159.37138.81124.55124.84
YoY Growth--39.04%11.11%12.50%6.66%-6.25%3.22%14.82%11.45%-0.24%20.11%
Dividend Yield--1.75%1.50%1.80%1.96%1.60%2.88%2.64%2.24%2.11%3.09%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)206,008.00
(-) Cash Dividends Paid (M)85,066.00
(=) Cash Retained (M)120,942.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)41,201.6025,751.0015,450.60
Cash Retained (M)120,942.00120,942.00120,942.00
(-) Cash Required (M)-41,201.60-25,751.00-15,450.60
(=) Excess Retained (M)79,740.4095,191.00105,491.40
(/) Shares Outstanding (M)301.97301.97301.97
(=) Excess Retained per Share264.07315.24349.35
LTM Dividend per Share281.71281.71281.71
(+) Excess Retained per Share264.07315.24349.35
(=) Adjusted Dividend545.78596.94631.05
WACC / Discount Rate16.51%16.51%16.51%
Growth Rate5.50%6.50%7.50%
Fair Value$5,227.43$6,348.01$7,525.16
Upside / Downside-68.59%-61.85%-54.78%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)206,008.00219,398.52233,659.42248,847.29265,022.36282,248.81290,716.28
Payout Ratio41.29%51.03%60.78%70.52%80.26%90.00%92.50%
Projected Dividends (M)85,066.00111,967.97142,007.78175,479.71212,703.01254,023.93268,912.56

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate16.51%16.51%16.51%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)95,195.2596,097.5896,999.90
Year 2 PV (M)102,649.11104,604.28106,577.91
Year 3 PV (M)107,842.87110,938.65114,093.12
Year 4 PV (M)111,137.26115,411.28119,807.42
Year 5 PV (M)112,844.97118,295.42123,954.48
PV of Terminal Value (M)883,907.66926,600.73970,927.77
Equity Value (M)1,413,577.121,471,947.951,532,360.59
Shares Outstanding (M)301.97301.97301.97
Fair Value$4,681.23$4,874.54$5,074.60
Upside / Downside-71.87%-70.71%-69.50%

High-Yield Dividend Screener

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