Income Statement Research
Review the full annual statement in one scroll, from headline results to detailed SEC line items, margin conversion, and growth diagnostics.
Commentary
A written read of the filing-backed figures above. The statement itself remains the source of truth.
This explanation uses an earlier data snapshot or evidence version. Compare its generation date with the current filing figures.
Over the five-year period, Toyota Motor Corp. shows a steady upward trend in revenue, growing from USD 27,214,594 million in 2021 to USD 48,036,704 million in 2025. Notably, year-over-year revenue growth appears strong between 2021 and 2024, with a particularly sharp increase in 2024 where revenue climbed to USD 45,095,325 million. In contrast, the reported gross profit and operating income figures remain at zero throughout the period. This anomaly in the data—whether due to an omission, reporting placeholder, or accounting treatment—limits the analysis of operational margins and cost efficiency. However, the net income figures offer substantial insight. Net income grew from USD 2,282,378 million in 2021 to USD 2,874,614 million in 2022, dipped slightly to USD 2,492,967 million in 2023, then experienced a significant jump to USD 5,071,421 million in 2024 before settling at USD 4,789,755 million in 2025. The jump in net income from 2023 to 2024 represents a significant swing, exceeding a 100% increase, and suggests possible non-operational factors such as tax adjustments, one-off gains, or marked improvements in efficiency that warrant further investigation. Overall, Toyota’s financial health appears robust based on revenue and net income trends. Despite the lack of data on gross profit and operating income, the sustained revenue growth combined with a substantial increase in net income in 2024 indicates a strong capacity to generate earnings in a competitive, capital-intensive automotive industry. This performance, amid global market volatility and supply chain challenges prevalent in the auto industry, implies a sustainable business model, though additional clarity on operational metrics would support a more comprehensive assessment.
This analysis is for informational purposes only and does not constitute financial advice or a recommendation for any investment decision. Please consult a qualified financial professional for personalised guidance.
Snapshot
TOYOTA MOTOR CORP/'s top line, gross profit, operating income, and bottom-line conversion. Values in USD millions.
Revenue
+15.3%Compound growth, FY2021 to FY2025
Gross profit
FY2025Latest annual filing, FY2025
Operating Income
FY2025Latest annual filing, FY2025
Net income
+20.4%Compound growth, FY2021 to FY2025
Headline results
Four lines, five fiscal years, straight from the filings.
TOYOTA MOTOR CORP/ headline income statement — FY2025
Trend
The same four lines drawn across the window.
All values shown in USD millions unless noted otherwise.
Line items
The full annual income statement layer for TOYOTA MOTOR CORP/, from revenue down to share counts.
Statement basis
USD millions, except per-share and share-count rows.
TOYOTA MOTOR CORP/ expanded income statement — FY2025
Expanded annual statement lines sourced from the SEC EDGAR database for TOYOTA MOTOR CORP/.
Margins
How much of TOYOTA MOTOR CORP/'s revenue survives through gross profit, operating income, and net income.
Gross margin
N/AFY2025, versus FY2021
Operating Margin
N/AFY2025, versus FY2021
Net income margin
+158 bpsFY2025, versus FY2021
Observation window
yearsFY2021 through FY2025
Margin table
Side-by-side read of gross, operating and net margin.
TOYOTA MOTOR CORP/ margins — FY2025
Margin trend
The shape of profitability across the window.
Margins are calculated from annual SEC facts using reported revenue as the denominator.
Year on year
Every headline line of TOYOTA MOTOR CORP/'s statement measured against the immediately prior period.
Revenue YoY
FY2024FY2025 versus FY2024
Gross profit YoY
FY2024FY2025 versus FY2024
Op. income YoY
FY2024FY2025 versus FY2024
Net income YoY
FY2024FY2025 versus FY2024
Year-on-year table
Contractions are tinted so slowdowns are obvious.
TOYOTA MOTOR CORP/ year-on-year change — FY2025
Momentum
Whether the business is accelerating or rolling over.
Year-on-year change compares each annual period against the immediately prior year inside the selected window.
Compound growth
Compounded annual growth from FY2021 to FY2025, which filters out one-year noise.
Revenue CAGR
4yrFY2021 to FY2025
Gross profit CAGR
4yrFY2021 to FY2025
Op. income CAGR
4yrFY2021 to FY2025
Net income CAGR
4yrFY2021 to FY2025
Compound rates use the first and last reported year in the window, so a gap in either endpoint suppresses the figure.
