Toyota’s P/E ratio dragged down by skepticism on ‘mobility’ shift

TOKYO — Toyota Motor’s price-earnings ratio has fallen close to the lowest levels of the past 10 years, amid uncertainty fueled by possible U.S. tariffs and the weak yen as well as a lack of specific plans for its planned transformation into a “mobility company.”

Although the stock edged up 1% on Friday, it was still trading at 7.9 times the projected earnings per share for fiscal 2024 — on par with lows in March 2020 during the COVID-19 pandemic.