toyota financial statement

1. Final Presentation
TOYOTA MORTOR CORPORATION

2.  Huỳnh Phúc Nguyên 332933
 Ngô Chí Trung 332940
 Nhữ Đình Hoàng Nam 332958

3. 1. Introduction
2. Financial Statements of Toyota
3. Financial Statements of the competitor – Nissan
4. Changes in industry
5. Financial Ratios between Toyota and Nissan
6. Financial Ratios of Industry
7. Financial Ratios changes
8. Cash Conversion Cycle
9. Conclusion

4.  Toyota is 3rd largest automotive manufacturer.
 Toyota Motor Corporation is headquartered in Toyota
City, Aichi.
 Toyota has annual sales of $120 Billion.
 Produces ~5.5 million vehicle per year.
 From 56 manufacturing plants across 6 continents.
 Employs ~200.000 people.
Toyota’s headquarter in Aichi, Japan

6. Years 2008 2009 2010 2013 2014 Changes
2008 - 2014
Total
Assets $32,458,320 $29,062,037 $30,349,287 $35,483,317 $41,437,473 ↑21.67%
0
10000000
20000000
30000000
40000000
50000000
20082009201020132014
Total Assets

7. -1000000
-500000
0
500000
1000000
1500000
2000000
2008 2009 2010 2013 2014
Net income
Years 2008 2009 2010 2013 2014 Changes
2008 - 2014
Net income
(loss)
$1,717,879 -$436,937 $209,456 $962,163 $1,823,119 ↑5.77%

8. 0
500000
1000000
1500000
2000000
2500000
3000000
3500000
4000000
2008 2009 2010 2013 2014
Net cash provided
by operating
activities
Years 2008 2009 2010 2013 2014 Changes
2008 - 2014
Net cash provided
by operating
activities
$2,981,624 $1,476,905 $2,558,530 $2,451,316 $3,646,035 ↑18.22%

10. 0
2000000
4000000
6000000
8000000
10000000
12000000
2008 2009 2010 2013 2014
Total current
Assets
Years 2008 2009 2010 2013 2014 Changes
2008 - 2014
Total current
assets
$5,279,382 $5,580,410 $6,345,835 $8,609,278 $10,317,345 ↑48.8%

11. -300000
-200000
-100000
0
100000
200000
300000
400000
500000
2008 2009 2010 2013 2014
Net income (loss)
Years 2008 2009 2010 2013 2014 Changes
2008 - 2014
Net income loss -$233,709 $42,390 $319,221 $389,034 $457,574 ↑151%

12. Years 2008 2009 2010 2013 2014 Changes
2008 - 2014
Net cash provided by
operating activities $890,726 $1,177,226 $667,502 -$3,360 $3,405 ↓260.6%
-200000
0
200000
400000
600000
800000
1000000
1200000
1400000
2008 2009 2010 2013 2014
Net cash provided
by operating
activities

13. -140
-120
-100
-80
-60
-40
-20
0
20
2010 2013 2014
Industry
Toyota
 Times Interest Earned

15. 0.000
0.500
1.000
1.500
2.000
2008 2009 2010 2013 2014
Toyota
Nissan
 Current ratios
Years Toyota Nissan
2008 1.012 1.324
2009 1.067 1.447
2010 1.223 1.449
2013 1.068 1.660
2014 1.071 1.608

16.  Quick ratios
0.000
0.200
0.400
0.600
0.800
1.000
1.200
1.400
1.600
1.800
2008 2009 2010 2013 2014
Toyota
Nissan
Years Toyota Nissan
2008 0.859 1.288
2009 0.929 1.412
2010 1.090 1.403
2013 0.935 1.604
2014 0.942 1.551

17.  Cash Ratio
0.000
0.050
0.100
0.150
0.200
0.250
2008 2009 2010 2013 2014
Toyota
Nissan
Years Toyota Nissan
2008 0.136 0.159
2009 0.231 0.208
2010 0.175 0.228
2013 0.133 0.159
2014 0.139 0.119

18.  Debt ratio
0.550
0.600
0.650
0.700
0.750
2008 2009 2010 2013 2014
Toyota
Nissan
Years Toyota Nissan
2008 0.614 0.714
2009 0.635 0.705
2010 0.640 0.695
2013 0.640 0.682
2014 0.633 0.692

19.  Times interest earned
-150.00
-100.00
-50.00
0.00
50.00
2008 2009 2010 2013 2014
Toyota
Nissan
Years Toyota Nissan
2008 -52.85 -6.47
2009 11.95 4.88
2010 -8.72 16.93
2013 -61.12 18.46
2014 -124.35 23.57

20. INVENTORY TURNOVER
DAY'S SALES IN
INVENTORY
0.000
10.000
20.000
30.000
40.000
50.000
60.000
Toyota
Nissan
0.000
10.000
20.000
30.000
40.000
Toyota
Nissan
Days
Years Toyota Nissan
2008 11.202 49.833
2009 11.970 45.635
2010 11.229 35.483
2013 10.497 30.008
2014 10.550 25.303
Years Toyota Nissan
2008 32.582 7.324
2009 30.494 7.998
2010 32.506 10.287
2013 34.772 12.163
2014 34.599 14.425

21. RECEIVABLES TURNOVER
DAY'S SALES IN
RECEIVABLES
0.000
1.000
2.000
3.000
4.000
5.000
6.000
7.000
2008
2009
2010
2013
2014
Toyota
Nissan
0.00
50.00
100.00
150.00
200.00
250.00
Toyota
Nissan
Days
Years Toyota Nissan
2008 5.771 3.113
2009 4.927 2.841
2010 4.211 3.194
2013 4.087 2.083
2014 4.319 1.802
Years Toyota Nissan
2008 63.25 117.25
2009 74.08 128.47
2010 86.68 114.28
2013 89.31 175.27
2014 84.51 202.56

22. 0.0000
0.2000
0.4000
0.6000
0.8000
1.0000
2008 2009 2010 2013 2014
Toyota
Nissan
Years Toyota Nissan
2008 0.7647 0.8240
2009 0.6598 0.7359
2010 0.5840 0.8171
2013 0.5894 0.7129
2014 0.5867 0.6673

23.  Profit margin  Return on total assets
-0.040
-0.020
0.000
0.020
0.040
0.060
0.080
0.100
20082009201020132014
Toyota
Nissan
-0.040
-0.020
0.000
0.020
0.040
0.060
Toyota
Nissan
Years Toyota Nissan
2008 0.069 -0.028
2009 -0.023 0.006
2010 0.012 0.036
2013 0.046 0.037
2014 0.075 0.040
Years Toyota Nissan
2008 0.053 -0.023
2009 -0.015 0.004
2010 0.007 0.030
2013 0.027 0.026
2014 0.044 0.027

24.  Return on equity
-0.100
-0.050
0.000
0.050
0.100
0.150
0.200
2008 2009 2010 2013 2014
Toyota
Nissan
Years Toyota Nissan
2008 0.145 -0.066
2009 -0.043 0.012
2010 0.020 0.080
2013 0.079 0.081
2014 0.126 0.090

25. INDUSTRY

26. 0.00
0.50
1.00
1.50
2.00
2.50
2008 2009 2010 2013 2014
Toyota
Nissan
Industry
 Current ratio
Years Toyota Nissan Industry
2008 1.01 1.32 1.42
2009 1.07 1.45 1.37
2010 1.22 1.45 1.6
2013 1.07 1.66 2.05
2014 1.07 1.61 2.1

27.  Quick ratio
0.00
0.50
1.00
1.50
2.00
2008 2009 2010 2013 2014
Toyota
Nissan
Industry
Years Toyota Nissan Industry
2008 0.86 1.29 0.41
2009 0.93 1.41 0.39
2010 1.09 1.40 0.58
2013 0.93 1.60 0.47
2014 0.94 1.55 0.59

28.  Return on equity
-0.10
0.00
0.10
0.20
0.30
0.40
0.50
2008 2009 2010 2013 2014
Toyota
Nissan
Industry
Years Toyota Nissan Industry
2008 0.14 -0.07 0
2009 -0.04 0.01 0
2010 0.02 0.08 0.41
2013 0.08 0.08 0.2
2014 0.13 0.09 0.14

29. Financial Ratios
Liquidity Ratios Company 2008 2014 Note
Current ratio
Toyota
Nissan
1.012
1.0324
1.071
1.608
Toyota < Nissan
Quick ratio
Toyota
Nissan
0.859
1.288
0.942
1.551
Toyota < Nissan
Cash ratio
Toyota
Nissan
0.136
0.159
0.139
0.119
Financial leverage ratios
Debt ratio
Toyota
Nissan
0.614
0.714
0.633
0.692
Time interest earned
Toyota
Nissan
(52.85)
(6.47)
(124.35)
23.57
Toyota ↓ 71.5

30. Asset management ratios
Inventory turnover
Toyota
Nissan
11.20
49.83
10.55
25.30
Days' sales in inventory
Toyota
Nissan
32.58
7.32
34.60
14.43
Receivables turnover
Toyota
Nissan
5.77
3.11
4.32
1.80
Toyota > Nissan
Days' sales in receivables
Toyota
Nissan
63.25
117.25
84.51
202.56
Toyota < Nissan
Total asset turnover
Toyota
Nissan
0.76
0.82
0.59
0.67
Profitability ratios
Profit margin
Toyota
Nissan
0.07
(0.03)
0.07
0.04
Toyota > Nissan
Return on assets
Toyota
Nissan
0.05
(0.02)
0.04
0.03
Toyota > Nissan
Return on equity
Toyota
Nissan
0.14
(0.07)
0.13
0.09

31. 0.0
20.0
40.0
60.0
80.0
100.0
2008 2009 2010 2013 2014
Days Inventory
Outstanding (DIO)
Days Sales Outstanding
(DSO)
Days Payable
Outstanding (DPO)
Cash Conversion cycle
Days
Years
Days
Inventory
Outstanding
(DIO)
Days Sales
Outstanding
(DSO)
Days Payable
Outstanding (DPO)
Cash
Conversion
cycle
2008 29.31 56.87 31.34 54.85
2009 30.11 72.01 34.02 68.1
2010 31.16 89.82 39.53 81.45
2013 36.58 88.89 43.85 81.63
2014 36.82 55.17 42.22 49.77

32. 1. Based on the Income statement (net income) from
2008-2014, Toyota was more profitable than Nissan
2. According to Financial Ratios of both companies:
• Liquidity Ratios: Toyota’s ability to pay off short-
term obligation was less than Nissan‘s and
Industry’s.
• Solvency Ratios: Nissan has the ability to meet long-
term obligations much better than Toyota.
• Asset Management Ratios: Totally, Nissan was
more successful than Toyota in managing their asset
and generate revenue.
CONCLUSION

33.  Profitability Ratios:
a) Profit from every sales dollar of Toyota
(profit margin = 0.07) was greater than
Nissan (profit margin = 0.04)
b) Toyota's assets were generating income
better than Nissan‘s (0.04 versus 0.03)
c) Profit of Toyota generated with each dollar
of shareholders' equity was greater than
Nissan (0.13 versus 0.09)

34.  www.toyota-
global.com/investors/financial_result/
 www.csimarket.com/Industry/industry_Mana
gementEffectiveness.php?ind=404
 www.nissan-
global.com/EN/IR/FINANCIAL/
 http://finance.yahoo.com/