Toyota Motor's Enterprise Value for the quarter that ended in Dec. 2023 was $404,881 Mil.
Toyota Motor's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was $43,173 Mil. Toyota Motor's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 10.72%.
The historical rank and industry rank for Toyota Motor's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
TM'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 4.46 Med: 7.57 Max: 10.44
Current: 9.49
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Toyota Motor was 10.44%. The lowest was 4.46%. And the median was 7.57%.
TM's Earnings Yield (Joel Greenblatt) % is ranked better than 66.18% of 1307
companies
in the Vehicles & Parts industry
Industry Median: 5.74
vs TM: 9.49
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Toyota Motor's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 14.30%. The Forward Rate of Return uses the normalized Free Cash Flow of the past seven years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Toyota Motor Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Toyota Motor's Earnings Yield (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Auto Manufacturers subindustry, Toyota Motor's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Toyota Motor Earnings Yield (Joel Greenblatt) % Distribution
For the Vehicles & Parts industry and Consumer Cyclical sector, Toyota Motor's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Toyota Motor's Earnings Yield (Joel Greenblatt) % falls into.
Toyota Motor Earnings Yield (Joel Greenblatt) % Calculation
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Toyota Motors Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Mar. 2023 is calculated as
Toyota Motor's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $43,173 Mil.
Toyota Motor (NYSE:TM) Earnings Yield (Joel Greenblatt) % Explanation
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
Toyota Motor Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Toyota Motor's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Founded in 1937, Toyota is one of the world's largest automakers with 10.56 million units sold at retail in fiscal 2023 across its light vehicle brands. Brands include Toyota, Lexus, Daihatsu, and truck maker Hino; market share in Japan is about 51% excluding mini-vehicles, while U.S. share is around 15%. The firm also owns 3.3% of Denso, a parts supplier, about 20% of Subaru, and holds investments in many other firms, including shares of Uber Technologies, Joby Aviation, Aurora Innovation, Isuzu Motors, and about 5% in each of Mazda and Suzuki. Fiscal 2023 sales excluding financial services were JPY 34.4 trillion. Toyota also has a financing arm and manufactures homes and boats.
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