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Toyota Motor Corp/ key statistics and ratios

In fiscal 2026, Toyota Motor Corp/ had return on equity of 10.4%, an operating margin of 7.4%, debt equal to 108.2% of equity and a current ratio of 1.27. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2010Mar 20102011Mar 20112012Mar 20122013Mar 20132014Mar 20142015Mar 20152016Mar 20162017Mar 20172018Mar 20182019Mar 20192020Mar 20202021Mar 20212022Mar 20222023Mar 20232024Mar 20242025Mar 20252026Mar 2026
Gross margin15.7%15.8%15.0%18.4%22.2%23.2%24.5%21.9%23.1%————————
Operating margin0.8%2.5%1.9%6.0%8.9%10.1%10.0%7.2%8.2%8.2%8.0%8.1%9.5%7.3%11.9%10.0%7.4%
Net margin1.1%2.1%1.5%4.4%7.1%8.0%8.1%6.6%8.5%6.2%6.8%8.3%9.1%6.6%11.0%9.9%7.6%
Free-cash-flow margin10.3%7.3%3.9%7.2%10.4%9.3%11.2%8.5%10.0%7.7%———————
Return on equity—————————9.5%10.1%10.5%11.9%8.4%15.6%13.4%10.4%
Return on assets—————————3.5%3.8%4.0%4.5%3.2%5.9%5.1%4.0%
Asset turnover—————————0.570.560.480.500.490.540.520.52
Current ratio—————————1.041.051.061.091.101.191.261.27
Debt to equity—————————101.8%103.5%109.6%101.0%103.7%106.8%108.0%108.2%
Interest cover (operating income ÷ interest)——————————4.6x4.7x7.3x——2.9x2.2x
Effective tax rate——————————24.4%22.2%28.0%32.0%27.2%25.3%22.7%
R&D as % of revenue——————————3.7%4.0%3.5%3.3%2.7%2.9%3.1%
Capital spending as % of revenue3.2%3.3%3.9%3.9%3.8%4.2%4.5%4.4%4.4%4.8%———————
Free cash flow ÷ net income932.9%341.7%257.1%166.0%146.8%116.8%137.4%128.0%117.6%122.9%———————
Dividends ÷ net income82.3%34.6%55.3%19.7%21.7%25.5%30.5%34.6%24.9%33.8%———————
Dividends and buybacks ÷ free cash flow8.8%10.1%21.5%11.9%14.8%21.9%22.2%27.1%21.2%27.5%———————

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 7 checks passed · March 31, 2026
What it owns · $663.3bn
Short-term assets $269.2bnLonger-term assets $394.1bn
What it owes, and who funded it · $656.4bn
Short-term liabilities $211.2bnLonger-term liabilities $194.2bnShareholders' equity $250.9bn
  • Short-term assets cover short-term liabilities $269.2bn of assets due within a year against $211.2bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $269.2bn short-term assets against $194.2bn of longer-dated liabilities.
  • More cash than debt $79.6bn of cash against $196.9bn of debt.
  • Debt below 40% of shareholders' equity Debt is 78% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 57% to 78% over five years.
  • A year's operating cash flow covers at least 20% of debt $36.4bn of operating cash flow against $196.9bn of debt.
  • Operating profit covers interest at least five times over Operating income of $25.0bn against $11.3bn of interest.

From Toyota Motor Corp/'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: F vs TMGM vs TMSTLA vs TM

More: Automobile Manufacturers stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from Toyota Motor Corp/'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Toyota Motor Corp/.