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Introduction Toyota Motor Corporation was started in 1933 in Japan. It is a business dealer in automobile as well as finance services and housing deals. The company stands as the leader in the automobile industry followed by general motors and other car manufacturing industries (Jeffrey, 2004). The company has its wings spread all over the world supplying cars. It makes about 40% of all vehicles in the world selling half in its domestic market and the rest international. It has 511 subsidiaries and 217 associate companies by the end of March, 2011. It has been argued that the company sells its merchandise at very high cost leading to abnormal profits (Bill, 2011). The credit rating of Toyota has gone down from AA to AA minus accordingly to the scores rates. RATIO ANALYSIS FOR TOYOTA MOTOR CORPORATIONS Liquidity Ratios Current Ratio = Total Current Assets/ Total Current Liabilities 1.02 1.03 1.08 Acid Test = Total quick assets/ Total current liabilities 0.89 0.90 0.95 (Total quick asset = total current assets minus inventory) 9937715.00 9816617.00 10226262.00 Activity Ratios Inventory turnover= cost of goods/ inventory 11.33 11.67 13.34 Day sales outstanding = receivables/ sales/360 109.35 104.12 96.44 Total ASSET Turnover (TAT)= total assets/ inventory 19.62 19.86 21.16 Leveraged ratios Equity ratio = total owners’ equity/ total assets 0.35 0.35 0.35 Debt ratio/Debt to asset Ratio= total liabilities/ total assets 0.65 0.65 0.65 Debt to Equity Ratio = Total Liabilities / Owners Equity or Net Worth 1.87 1.83 1.86 Profit Ratios Gross Profit Margins (GPM) = (Net gross Profit / Net Sales) x 100 12.52 11.96 10.10 Net Profit Margin (NPM)= (Net profit/net sales)*100 2.15 1.11 -2.13 Return on capital invested (ROCI) 0.05 0.03 -0.05 Return on Assets (ROA) = (Net Profit / Total Assets) x 100 1.42 0.74 -1.49 Return on Equity= (Net Profit / Net Worth or Owners Equity) x 100 (Wilbert, 2007) 4.07 2.09 -4.27 Shareholders return ratios Dividend yield = dividend per share/ market price 0.62 0.56 2.46 Price earnings ratio= market per share/ earnings per share 0.62 1.21 -0.29 Income statements FOR TOYOTA MOTOR CORPORATIONS 2011 2010 2009 Revenue 18993688.00 18950973.00 20529570.00 cost of revenue 16615326.00 16683797.00 18455800.00 Gross profit 2378362.00 2267176.00 2073770.00 Total selling/general/ administrative expenses 1910083.00 2119660.00 2534781.00 other operating expenses 0.00 0.00 0.00 operating income 468279.00 147516.00 -461011.00 less other non-operating expenses 19253.00 30886.00 -189140.00 income before tax 563290.00 291468.00 -560381.00 less income tax 312821.00 92664.00 -56442.00 net income before extra-ordinary items 250469.00 198804.00 -503939.00 MI -57302.00 -34756.00 24278.00 equity in affiliates 215016.00 45408.00 42724.00 net Income 408183.00 209456.00 -436937.00 dividend paid (figures in millions) 156791.00 141120.00 313551.00 number of shares (figure in millions) 3135.91 3135.99 3140.42 dividend per share 50.00 45.00 99.84 earnings per share 130.17 66.79 -139.13 market price 80.54 80.54 40.51 Balance sheet FOR TOYOTA MOTOR CORPORATION 2011 2010 2009 total receivables 5,769,135.00 5,481,099.00 5,499,378.00 Total inventory 1465876 1429363 1383782 Total current assets 11403591 11245980 11610044 Total assets 28761679.00 28387556.00 29284861.00 Total current liabilities 11173520.00 10932580.00 10787814.00 total liabilities 18737812.00 18371123.00 19043857.00 total equity 10023867.00 10016433.00 ...Show more
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Company analysis- Toyota Motor Corporations Name: Institution: Instructor: Subject: Date: Executive Summary This report looks at an analysis of the financial statements for Toyota Motor Corporations. Ratio analysis is undertaken in order to interpret the financial information from the management, creditors and investors view and any other stakeholders…
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