Tokyo / New York – November 26, 2025 – Toyota Motor Corporation shares are edging higher today as investors pocket a larger semi‑annual dividend and digest the latest wave of filings tied to the company’s FY2026 (April 2025–March 2026) results.
Toyota stock price today: TM on NYSE and 7203.T in Tokyo
Tokyo listing – 7203.T
- Toyota’s primary Tokyo listing is trading around ¥3,128 today, up about 1.7% from Monday’s close of ¥3,077.
- In intraday trade the stock has moved between ¥3,090 and ¥3,147, leaving it close to the upper end of its 52‑week range of ¥2,226.5 to ¥3,221. Investing
- On current prices, Toyota carries a market capitalization of roughly ¥48.9 trillion, trades on about 8.7× trailing earnings, and offers an annual dividend of ¥95 per share, a yield of just over 3%. FT Markets
New York ADR – TM
- In New York, Toyota’s American Depositary Receipts (ADRs) under ticker TM are recently changing hands at about $200.26, up 0.65% on the day.
- The ADR has traded between $196.65 and $200.85 so far, after opening at $197.75. About 272,000 shares have traded, in line with average volume.
- Over the past year, TM has gained roughly 18%, with a 52‑week range of $155.00 to $211.24. Investing
The mild rise in both listings comes against a backdrop of solid but pressured earnings, heavy tariff headwinds and an aggressive push into hybrids.
Today’s big catalyst: Toyota’s higher dividend hits investor accounts
November 26 is payment day for Toyota’s latest semi‑annual dividend, and that is the main company‑specific event on today’s calendar.
Ordinary shares in Japan
- Toyota is paying ¥45 per share for the second quarter of FY2026, up from ¥40 a year earlier. トヨタ自動車株式会社 公式企業サイト
- Together with a forecast ¥50 year‑end dividend, management is guiding for ¥95 per share in total dividends this fiscal year, a ¥5 increase over FY2025. トヨタ自動車株式会社 公式企業サイト
- The dividend was ex‑dividend on September 29 with a record date of September 30, and is being paid today to shareholders of record. Morningstar Global
At today’s Tokyo price, that implies a forward dividend yield of just over 3% on the ordinary shares. FT Markets
ADRs and international listings
The payout flows through to international investors as well:
- For the U.S. OTC line TOYOF and other depository receipts, today’s payment corresponds to roughly $0.30 per unit, again up from around $0.28–$0.29 last year. StockAnalysis
- Various European and Canadian depository receipts also pay translated equivalents of the same ¥45 per underlying share today. StockAnalysis
For income‑focused investors, the higher interim dividend – combined with guidance for continued “stable dividend increases” – is one reason Toyota screens as a relatively sturdy dividend name compared with many global automakers. トヨタ自動車株式会社 公式企業サイト
Fresh filings: FY2026 semi‑annual report materials land on Nov. 26
Alongside dividend payments, Toyota today filed supplemental FY2026 semi‑annual financial materials with regulators, including an English‑language financial summary and related exhibits referencing November 26, 2025 as the filing date. Yahoo Finance
The content itself isn’t new – the numbers were first released at the November 5 earnings announcement – but the filings formalize the results in U.S. and Japanese reporting systems and help anchor the investment narrative going into year‑end.
Key figures for the first half of FY2026 (April–September 2025):
- Net revenues: ¥24.63 trillion, up 5.8% year‑on‑year. トヨタ自動車株式会社 公式企業サイト
- Operating income: ¥2.01 trillion, down 18.6%, as tariffs and higher costs offset sales growth. トヨタ自動車株式会社 公式企業サイト
- Net income attributable to Toyota Motor Corporation: ¥1.77 trillion, down 7.0%. トヨタ自動車株式会社 公式企業サイト
- Earnings per share: ¥136.07, down from ¥142.15 a year ago. トヨタ自動車株式会社 公式企業サイト
Management is forecasting for the full FY2026 year (to March 31, 2026):
- Revenue of ¥49.0 trillion (+2.0% vs FY2025).
- Operating income of ¥3.4 trillion, a steep 29.1% decline.
- Net income of ¥2.93 trillion, down 38.5% from last year’s record ¥4.77 trillion, largely because of U.S. auto tariffs. AP News
Toyota estimates that tariffs will reduce operating profit by about ¥1.45 trillion this fiscal year, and by roughly ¥450 billion in the July–September quarter alone. Reuters
Those figures help explain the tension investors are wrestling with today: strong sales and a higher dividend on one side, margin compression and policy risk on the other.
Under the hood: strong Q2 bottom line, weak operating margin
Drilling into the July–September 2025 quarter, which sits inside the first‑half results:
- Quarterly net profit jumped 62% year‑on‑year to about ¥932 billion, beating analyst expectations. The Wall Street Journal
- Revenue climbed 8.2% to ¥12.377 trillion, driven by robust sales in the U.S., Europe and Africa. The Wall Street Journal
- However, operating income slid roughly 27% to around ¥840 billion, as tariffs, higher personnel costs and investment in future technologies squeezed margins. Reuters
The sharp divergence between operating profit and net profit is largely due to non‑operating gains, including investment income and currency effects, which boosted the bottom line despite weaker core profitability. ChinaEVHome
For equity investors, that mix matters: Toyota is earning plenty of money, but a smaller share of it is coming from selling cars at attractive margins.
Hybrid‑heavy strategy and $912 million U.S. investment
If tariffs are the main headwind, hybrids are the main tailwind.
Toyota’s latest disclosures show that for the first half of FY2026, electrified vehicles (hybrid, plug‑in hybrid, EV and fuel‑cell) made up about 47% of Toyota and Lexus sales, with the bulk of that coming from hybrid electric vehicles. Futu News
Executives have said the company is “barely covering demand” for hybrids, particularly in North America and China, where customers are cautious about full battery‑electric cars but still want higher fuel efficiency. Electrek
To meet that demand, Toyota announced on November 18 that it will invest about $912 million across five U.S. manufacturing plants in states including Kentucky and West Virginia. The money will expand production of hybrid‑capable engines and components and add a few hundred jobs. トヨタ自動車株式会社 公式企業サイト
The investment is part of an additional $10 billion U.S. spending plan over five years, lifting Toyota’s cumulative U.S. investment toward $60 billion since it entered the market nearly 70 years ago. トヨタ自動車株式会社 公式企業サイト
For shareholders, today’s higher dividend is tied directly to that confident long‑term stance: Toyota’s official materials explicitly tie its dividend policy to “stable increases” supported by productivity improvements and capital investment, not short‑term cost cutting. トヨタ自動車株式会社 公式企業サイト
Big-picture risks: tariffs, recalls and restructuring
Even as the stock trades near its highs, several risk factors remain front‑of‑mind for markets:
U.S. tariffs and political risk
- U.S. tariffs on Japanese vehicles and parts, introduced under the Trump administration and later moderated, still sit well above pre‑trade‑war levels and are the single largest drag on Toyota’s earnings outlook. AP News
- Toyota estimates a ¥1.45 trillion full‑year hit to operating income from U.S. tariffs alone, turning what would have been record profits into a sharp year‑on‑year decline. Reuters
Markets are also reacting to the optics of Toyota’s relationship with U.S. politics and motorsport marketing – recent commentary, for example, has scrutinized public appearances by Toyota executives at high‑profile racing events – though these are more about reputational perception than direct financial impact. Yahoo Finance
Product quality and recalls
- In September, Toyota announced a recall of certain Toyota and Lexus vehicles related to safety systems, with customer notifications scheduled to run through mid‑November. Toyota USA Newsroom
- While the financial cost appears manageable, any mis‑steps on quality could erode the brand’s hard‑won reputation for reliability – a key factor underpinning its pricing power and resale values.
Group restructuring and buyouts
- Earlier this year, Toyota and related entities agreed on a ¥6 trillion (about $33 billion) deal to take key supplier Toyota Industries Corp. private, in one of Japan’s largest buyouts. Reuters
- The move, which still needs to clear various approvals, is intended to streamline the Toyota ecosystem and tighten control over strategic components like forklifts and industrial equipment. Investors will be watching balance‑sheet leverage and integration risks closely.
How analysts are reading Toyota stock now
Despite today’s pop, Toyota still trades on relatively conservative multiples compared with many global peers:
- Japanese research houses and data services put consensus fair value for 7203 around ¥3,300–3,300+, implying mid‑single‑digit upside from recent levels. Stockopedia
- Screeners like Stockopedia classify the stock as a “Turnaround” case – solid quality and value metrics, but mixed momentum as tariffs and macro worries offset strong fundamentals. Stockopedia
- Not all commentary is bullish. Zacks, for instance, argued in late August that investors might consider taking profits in Toyota after a big run‑up, citing tariff risks and a possible peak in margins. Zacks
At the same time, dividend‑oriented investors see some attraction: across listings, Toyota’s dividend yield runs around 3–3.3%, with a payout ratio in the mid‑20% range, leaving room for both reinvestment and further increases if earnings normalize after the tariff shock. StockAnalysis
What to watch after today
With the November 26 dividend now in the rear‑view mirror, here are the next key catalysts Toyota shareholders are likely to track:
- Tariff developments and trade negotiations between the U.S. and Japan, which could materially alter the projected ¥1.45 trillion profit hit. Reuters
- Progress on the Toyota Industries buyout and any follow‑on restructuring across the wider Toyota group. Reuters
- Uptake of Toyota’s new hybrid and EV models, including concepts shown at SEMA 2025 and new trims like the Grand Highlander Hybrid Nightshade. Simply Wall St
- The next results update for FY2026 and confirmation of the next dividend cycle, with the ex‑date currently pencilled in for March 30, 2026 and payment in late May. FT Markets
Bottom line
On November 26, 2025, Toyota stock is quietly firmer as investors cash a larger semi‑annual dividend and pore over freshly filed semi‑annual financial materials. The investment thesis remains a balancing act:
- Positives: dominant global scale, booming hybrid demand, disciplined capital returns and a hefty new U.S. investment program.
- Negatives: a very real tariff drag on profits, shrinking operating margins and ongoing recall and restructuring risks.
Whether TM is a buy, hold or sell at around $200 / ¥3,100 ultimately depends on an investor’s view of those trade‑offs – and of how long Washington keeps the tariff pressure dialed up.
