GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Toyota Motor Corp (NYSE:TM) » Definitions » Cyclically Adjusted Book per Share

TM (Toyota Motor) Cyclically Adjusted Book per Share : $122.68 (As of Mar. 2025)


View and export this data going back to 1976. Start your Free Trial

What is Toyota Motor Cyclically Adjusted Book per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

Toyota Motor's adjusted book value per share for the three months ended in Mar. 2025 was $184.699. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $122.68 for the trailing ten years ended in Mar. 2025.

During the past 12 months, Toyota Motor's average Cyclically Adjusted Book Growth Rate was 13.60% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 13.30% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 11.90% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 9.10% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Book Growth Rate using Cyclically Adjusted Book per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Book Growth Rate of Toyota Motor was 13.30% per year. The lowest was 3.00% per year. And the median was 7.35% per year.

As of today (2025-07-23), Toyota Motor's current stock price is $169.99. Toyota Motor's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2025 was $122.68. Toyota Motor's Cyclically Adjusted PB Ratio of today is 1.39.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Toyota Motor was 2.49. The lowest was 1.17. And the median was 1.53.


Toyota Motor Cyclically Adjusted Book per Share Historical Data

The historical data trend for Toyota Motor's Cyclically Adjusted Book per Share 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.

* Premium members only.

Toyota Motor Cyclically Adjusted Book per Share Chart

Toyota Motor Annual Data
Trend Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 101.85 101.44 106.99 106.05 122.68

Toyota Motor Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Cyclically Adjusted Book per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 106.05 103.20 119.79 109.68 122.68

Competitive Comparison of Toyota Motor's Cyclically Adjusted Book per Share

For the Auto Manufacturers subindustry, Toyota Motor's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio 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's Cyclically Adjusted PB Ratio Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Toyota Motor's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Toyota Motor's Cyclically Adjusted PB Ratio falls into.


;
;

Toyota Motor Cyclically Adjusted Book per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

What is Cyclically Adjusted Book per Share? How do we calculate Cyclically Adjusted Book per Share?

Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Book per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the book value per share from 2001 through 2010.

We adjusted the 2001 book value per share data with the total inflation from 2001 through 2010 to the equivalent book value in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's book value is $1 a share in 2001, then the 2001's equivalent book value in 2010 is $1.4 a share. If Wal-Mart's book value is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 book value in 2010 is $1.35. So on and so forth, you get the equivalent book value per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Toyota Motor's adjusted Book Value per Share data for the three months ended in Mar. 2025 was:

Adj_Book= Book Value per Share /CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=184.699/111.1000*111.1000
=184.699

Current CPI (Mar. 2025) = 111.1000.

Toyota Motor Quarterly Data

Book Value per Share CPI Adj_Book
201506 88.375 98.400 99.781
201509 91.094 98.500 102.747
201512 92.463 98.100 104.716
201603 97.636 97.900 110.800
201606 101.674 98.100 115.148
201609 107.245 98.000 121.581
201612 99.777 98.400 112.655
201703 104.287 98.100 118.107
201706 108.343 98.500 122.202
201709 112.293 98.800 126.273
201712 114.487 99.400 127.963
201803 121.430 99.200 135.997
201806 119.024 99.200 133.302
201809 121.326 99.900 134.928
201812 119.517 99.700 133.183
201903 126.471 99.700 140.932
201906 127.957 99.800 142.445
201909 131.998 100.100 146.503
201912 133.895 100.500 148.017
202003 138.464 100.300 153.373
202006 137.733 99.900 153.175
202009 142.339 99.900 158.297
202012 150.266 99.300 168.122
202103 154.019 99.900 171.286
202106 156.841 99.500 175.126
202109 161.432 100.100 179.172
202112 158.545 100.100 175.968
202203 160.644 101.100 176.534
202206 148.916 101.800 162.520
202209 143.412 103.100 154.540
202212 149.896 104.100 159.975
202303 156.293 104.400 166.323
202306 158.370 105.200 167.252
202309 159.629 106.200 166.994
202312 167.696 106.800 174.448
202403 169.522 107.200 175.689
202406 168.074 108.200 172.579
202409 182.830 108.900 186.524
202412 178.273 110.700 178.917
202503 184.699 111.100 184.699

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.


Toyota Motor  (NYSE:TM) Cyclically Adjusted Book per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Book per Share may underestimate the company's equity. Cyclically Adjusted PB Ratio can seem to be too high even the actual PB Ratio is low.

For the Cyclically Adjusted PB Ratio, the book value of the past 10 years are inflation-adjusted and averaged. The result is used for P/B calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PB Ratio is also called CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Toyota Motor's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=169.99/122.68
=1.39

* 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.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Toyota Motor was 2.49. The lowest was 1.17. And the median was 1.53.


Be Aware

Cyclically Adjusted PB Ratio works better for cyclical companies. It gives you a better idea on the company's real book value.


Toyota Motor Cyclically Adjusted Book per Share Related Terms

Thank you for viewing the detailed overview of Toyota Motor's Cyclically Adjusted Book per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


Toyota Motor Business Description

Address
1 Toyota-cho, Aichi Prefecture, Toyota, JPN, 471-8571
Founded in 1937, Toyota is one of the world's largest automakers, with 11.0 million units sold at retail in fiscal 2025, including 10.3 million across the Toyota and Lexus brands. Brands include Toyota, Lexus, Daihatsu, and truck maker Hino; market share in Japan is about 52% excluding mini-vehicles, while US share is around 15%. The firm also owns stakes in 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 2025 sales excluding financial services were JPY 43.8 trillion. Toyota also has a financing arm and manufactures homes and boats.