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TM/28 Toyota Motor Credit

Company profile

Calendar

3 Jun 21
31 Jul 21
31 Mar 22
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Mar 21 Mar 20 Mar 19 Mar 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 8.2B 8.2B 8.2B 8.2B 8.2B 8.2B
Cash burn (monthly) 809M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 3.25B n/a n/a n/a n/a n/a
Cash remaining 4.95B n/a n/a n/a n/a n/a
Runway (months of cash) 6.1 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Financial report summary

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Risks
  • We face various risks related to health epidemics and other outbreaks, which have had and are expected to continue to have material adverse effects on our business, financial condition, results of operations and cash flows.
  • General business, economic, and geopolitical conditions, as well as other market events, may adversely affect our business, results of operations and financial condition.
  • Our results of operations and financial condition are substantially dependent upon the sale of Toyota, Lexus, and private label vehicles, as well as our ability to offer competitive financing and voluntary protection products.
  • Changes in consumer behavior could affect the automotive industry, TMNA and TMC, and, as a result, our business, results of operations and financial condition.
  • Recalls and other related announcements by TMNA or private label companies could affect our business, results of operations and financial condition.
  • If we are unable to compete successfully or if competition increases in the businesses in which we operate, our results of operations could be negatively affected.
  • Our private label financial services for third-party automotive and mobility companies may expose us to additional risks that could adversely affect our business, results of operations and financial condition.
  • Our borrowing costs and access to the unsecured debt capital markets depend significantly on the credit ratings of TMCC and its parent companies and our credit support arrangements.
  • A disruption in our funding sources and access to the capital markets would have an adverse effect on our liquidity.
  • Our allowance for credit losses may not be adequate to cover actual losses, which may adversely affect our results of operations and financial condition.
  • Our business and operations make extensive use of quantitative models, estimates and assumptions. If our design, implementation or use of models is flawed or if actual results differ from our estimates or assumptions, our results of operations and financial condition could be materially and adversely affected.
  • Fluctuations in the valuation of investment securities or significant fluctuations in investment market prices could negatively affect our Net financing revenues and results of operations.
  • A decrease in the residual values of our off-lease vehicles and a higher number of returned lease assets could negatively affect our results of operations and financial condition.
  • We are exposed to customer and dealer credit risk, which could negatively affect our results of operations and financial condition.
  • Our results of operations, financial condition and cash flows may be adversely affected by changes in interest rates, foreign currency exchange rates and market prices.
  • Uncertainty about the transition away from the London Interbank Offered Rate (“LIBOR”) and the adoption of alternative reference rates could adversely impact our business and results of operations.
  • The failure or commercial soundness of our counterparties and other financial institutions may have an effect on our liquidity, results of operations or financial condition.
  • Our voluntary protection operations could suffer losses if our reserves are insufficient to absorb actual losses.
  • Changes in accounting standards issued by the Financial Accounting Standards Board (“FASB”) could adversely affect our results of operations and financial condition.
  • A failure or interruption of our information systems could adversely affect our business, results of operations and financial condition.
  • A security breach or a cyber-attack could adversely affect our business, results of operations and financial condition.
  • Our enterprise data practices, including the collection, use, sharing, disposal and security of personal and financial information of our customers, employees, and third-party individuals are subject to increasingly complex, restrictive, and punitive laws and regulations which could adversely affect our business, results of operations and financial condition.
  • Adverse economic conditions or changes in state laws in states in which we have customer concentrations may negatively affect our results of operations and financial condition.
Management Discussion
  • Our consolidated net income was $2,017 million in fiscal 2021, compared to $913 million in fiscal 2020.  The increase in net income for fiscal 2021 compared to fiscal 2020 was primarily due to an $888 million decrease in depreciation on operating leases, a $532 million decrease in interest expense, a $164 million decrease in provision for credit losses, an $88 million increase in investment and other income, net, an $86 million decrease in voluntary protection contract expenses and insurance losses, and a $74 million decrease in operating and administrative expense, partially offset by a $521 million increase in provision for income taxes, and a $230 million decrease in total financing revenues.
Content analysis
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H.S. sophomore Avg
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Proxies

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