TOYOTA MOTOR CORP/ (TM) Return on Tangible Equity

TOYOTA MOTOR CORP/ Return Tang Equity

Return on tangible equity is the profit a company earns on the physical and financial capital its shareholders own, leaving out goodwill and other intangible assets, shown as a percentage. It is net income divided by tangible equity, which is shareholder equity minus goodwill and intangibles; the table shows both amounts. Because acquired goodwill is removed, it runs higher than ROE for companies that grew by acquisition, and it has no meaning when goodwill exceeds equity. Goodwill and intangibles are taken at the latest reported date on or before each equity date. Quarterly points divide the trailing four quarters of net income by the balance at that quarter end; annual points divide the filed fiscal-year net income by the fiscal-year-end balance.

• TOYOTA MOTOR CORP/ return tang equity for fiscal 2013 was 7.53%, a 156.91% increase from fiscal 2012.
• TOYOTA MOTOR CORP/ return tang equity for fiscal 2012 was 2.93%, a 20.64% decline from fiscal 2011.
• TOYOTA MOTOR CORP/ return tang equity for fiscal 2011 was 3.69%, a 115.77% increase from fiscal 2010.
• TOYOTA MOTOR CORP/ return tang equity for fiscal 2010 was 1.71%.