Andrew Stolz

JANUARY 27, 2022

Highlights: Expansion to other industries as oil business matures. Attractive dividend yield despite rise in invested capital. The company will allocate 32% of its future CAPEX budget until 2030 to invest in new industries, mainly through M&A. Diversifying business lines sounds great, but is there any downside?

Dividends 52

Dividends Technology Business Valuation Marketability 52

Andrew Stolz

NOVEMBER 21, 2021

In 2020, the Japanese gov’t announced the intention to ban gasoline-powered cars by 2030. Toyota has announced to allocate US$13.5bn by 2030 to the development of EV batteries. The company pays out dividends on a consistent basis. Dividend payout ratio is almost constant around 30%. Cash flow – Toyota. Ratios – Toyota.

Dividends 52

Dividends EBIT Treasury Equity 52

Andrew Stolz

JANUARY 28, 2022

Attractive dividend yield could rise to 2x Japanese average. By 2030, the company plans to increase its renewable capacity to 4 Gigawatt from currently 0.2 Attractive dividend yield could rise to 2x Japanese average. In the past share, the company has increased its dividend per share and is likely to maintain that level.

Dividends 52

Dividends Risk-free Rate Net Debt Equity 52

Andrew Stolz

JANUARY 24, 2022

Strong years ahead lead to attractive dividend yields. Until 2030, the capacity is expected to grow more than 8x to 13+ GW. Strong years ahead lead to attractive dividend yields. I also expect a strong increase in dividends over next 3 years. The dividend yield could grow to a remarkable 4%+ in 23E. Conclusions.

Dividends 52

Dividends Start-ups Business Valuation Marketability 52