Financials Hitachi, Ltd.

Equities

6501

JP3788600009

Consumer Goods Conglomerates

Market Closed - Japan Exchange Other stock markets 07:30:00 11/07/2025 BST			5-day change	1st Jan Change
4,040.00 ^JPY	-1.82%		+0.35%	+2.62%

07-10	Shionogi & Co., Ltd. Implements Stibo Systems MDM Solution	CI
07-03	Japan's Nikkei ekes out gain despite trade uncertainty; steelmakers jump	RE

Projected Income Statement: Hitachi, Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	8,729,196	10,264,602	10,881,150	9,728,700	9,783,370	10,305,860	11,082,306	11,819,074
Change	-	17.59%	6.01%	-10.59%	0.56%	5.34%	7.53%	6.65%
EBITDA ¹	986,843	1,278,488	1,274,454	1,207,341	1,403,134	1,531,436	1,699,802	1,827,934
Change	-	29.55%	-0.32%	-5.27%	16.22%	9.14%	10.99%	7.54%
EBIT ¹	495,180	738,236	748,144	755,800	971,600	1,076,053	1,256,294	1,399,965
Change	-	49.08%	1.34%	1.02%	28.55%	10.75%	16.75%	11.44%
Interest Paid ¹	-22,778	-27,110	-51,313	-70,922	-46,912	-49,550	-54,300	-54,700
Earnings before Tax (EBT) ¹	844,443	839,333	819,971	825,801	962,733	1,109,197	1,257,836	1,412,167
Change	-	-0.61%	-2.31%	0.71%	16.58%	15.21%	13.4%	12.27%
Net income ¹	501,613	583,470	649,124	589,800	615,724	760,907	879,559	981,111
Change	-	16.32%	11.25%	-9.14%	4.4%	23.58%	15.59%	11.55%
Announcement Date	28/04/21	28/04/22	27/04/23	26/04/24	28/04/25	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	1,594,277	2,165,780	2,218,943	2,750,196	2,367,437	2,465,228	2,514,000	2,917,937	2,569,816	2,846,963	2,692,017	2,772,354	2,322,488	2,637,581	2,258,085	2,510,500	2,211,423	2,334,500	2,465,200	2,772,100	2,343,055	2,496,195	2,608,039	2,876,305
Change	-	35.85%	2.45%	23.94%	-13.92%	4.13%	1.98%	16.07%	-11.93%	10.78%	-5.44%	2.98%	-16.23%	13.57%	-14.39%	11.18%	-11.91%	5.57%	5.6%	12.45%	-15.48%	6.54%	4.48%	10.29%
EBITDA ¹	156,600	249,975	261,382	318,816	261,412	311,691	299,663	396,195	-	352,600	306,100	340,980	251,903	320,500	303,734	331,121	302,734	316,918	362,371	421,003	296,404	358,612	388,219	690,648
Change	-	59.63%	4.56%	21.97%	-18.01%	19.23%	-3.86%	32.21%	-	-	-13.19%	11.39%	-26.12%	27.23%	-5.23%	9.02%	-8.57%	4.69%	14.34%	16.18%	-29.6%	20.99%	8.26%	77.9%
EBIT ¹	58,370	122,418	136,124	178,268	130,483	179,572	174,405	253,776	121,553	203,076	202,870	220,645	130,546	194,936	200,219	230,100	197,624	207,100	250,100	316,600	213,322	251,598	271,844	336,720
Change	-	109.73%	11.2%	30.96%	-26.81%	37.62%	-2.88%	45.51%	-52.1%	67.07%	-0.1%	8.76%	-40.83%	49.32%	2.71%	14.92%	-14.11%	4.79%	20.76%	26.59%	-32.62%	17.94%	8.05%	23.87%
Charge d'intérêts	-4,365	-5,790	-6,848	-5,775	-6,454	-6,565	-6,491	-7,600	-9,273	-12,180	-13,884	-15,976	-17,622	-19,939	-17,345	-	-19,201	-	-11,100	-	-	-	-	-
Earnings before Tax (EBT) ¹	339,709	44,545	114,705	345,484	166,855	253,252	173,149	246,077	76,606	205,539	174,674	363,152	115,485	206,571	320,051	183,694	252,377	187,000	215,300	308,106	231,167	275,500	277,500	332,500
Change	-	-86.89%	157.5%	201.19%	-51.7%	51.78%	-31.63%	42.12%	-68.87%	168.31%	-15.02%	107.9%	-68.2%	78.87%	54.94%	-42.6%	37.39%	-25.9%	15.13%	43.11%	-24.97%	19.18%	0.73%	19.82%
Net income ¹	223,251	27,504	57,123	193,735	122,231	200,213	128,341	132,685	37,158	135,357	119,717	356,892	70,021	139,082	235,989	144,800	175,325	116,900	138,500	184,900	175,828	178,638	192,555	231,452
Change	-	-87.68%	107.69%	239.15%	-36.91%	63.8%	-35.9%	3.38%	-72%	264.27%	-11.55%	198.11%	-80.38%	98.63%	69.68%	-38.64%	21.08%	-33.32%	18.48%	33.5%	-4.91%	1.6%	7.79%	20.2%
Announcement Date	30/07/20	28/10/20	03/02/21	28/04/21	30/07/21	27/10/21	02/02/22	28/04/22	29/07/22	28/10/22	01/02/23	27/04/23	28/07/23	27/10/23	31/01/24	26/04/24	31/07/24	30/10/24	31/01/25	28/04/25	-	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2
Net sales ¹	4,969,139	4,832,665	5,431,937	5,416,779	5,464,371	4,960,069	4,768,700	4,545,900	5,237,388
Change	-	-2.75%	12.4%	-0.28%	0.88%	-9.23%	-3.86%	-4.67%	15.21%
EBITDA	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
EBIT ¹	314,392	310,055	428,181	324,629	423,515	325,482	430,400	404,700	566,876
Change	-	-1.38%	38.1%	-24.18%	30.46%	-23.15%	32.23%	-5.97%	40.07%
Charge d'intérêts	-	-13,019	-	-21,453	-	-37,561	-	-30,718	-
Earnings before Tax (EBT)	460,189	420,107	419,226	282,145	537,826	322,056	503,745	439,335	-
Change	-	-8.71%	-0.21%	-32.7%	90.62%	-40.12%	56.42%	-12.79%	-
Net income	250,858	322,444	261,026	172,515	476,609	209,103	380,700	292,273	-
Change	-	28.54%	-19.05%	-33.91%	176.27%	-56.13%	82.06%	-23.23%	-
Announcement Date	28/04/21	27/10/21	28/04/22	28/10/22	27/04/23	27/10/23	26/04/24	30/10/24	28/04/25

¹JPY in Million

Estimates

Forecast Balance Sheet: Hitachi, Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	1,381,470	1,781,570	1,380,065	474,655	339,874	528,667	713,517	-202,063
Change	-	28.96%	-22.54%	-65.61%	-28.4%	55.55%	34.97%	-128.32%
Announcement Date	28/04/21	28/04/22	27/04/23	26/04/24	28/04/25	-	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: Hitachi, Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	254,750	296,968	252,638	232,874	391,648	424,086	445,086	449,514
Change	-	16.57%	-14.93%	-7.82%	68.18%	8.28%	4.95%	0.99%
Free Cash Flow (FCF) ¹	334,288	-318,923	978,108	825,069	598,590	509,745	609,256	705,731
Change	-	-195.4%	406.69%	-15.65%	-27.45%	-14.84%	19.52%	15.83%
Announcement Date	28/04/21	28/04/22	27/04/23	26/04/24	28/04/25	-	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: Hitachi, Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	11.31%	12.46%	11.71%	12.41%	14.34%	14.86%	15.34%	15.47%
EBIT Margin (%)	5.67%	7.19%	6.88%	7.77%	9.93%	10.44%	11.34%	11.84%
EBT Margin (%)	9.67%	8.18%	7.54%	8.49%	9.84%	10.76%	11.35%	11.95%
Net margin (%)	5.75%	5.68%	5.97%	6.06%	6.29%	7.38%	7.94%	8.3%
FCF margin (%)	3.83%	-3.11%	8.99%	8.48%	6.12%	4.95%	5.5%	5.97%
FCF / Net Income (%)	66.64%	-54.66%	150.68%	139.89%	97.22%	66.99%	69.27%	71.93%
Profitability
ROA	4.61%	6.52%	6.21%	6.68%	4.83%	5.59%	5.96%	6.25%
ROE	15%	14.8%	14%	11.1%	10.66%	12.64%	13.58%	14.08%
Financial Health
Leverage (Debt/EBITDA)	1.4x	1.39x	1.08x	0.39x	0.24x	0.35x	0.42x	-
Debt / Free cash flow	4.13x	-5.59x	1.41x	0.58x	0.57x	1.04x	1.17x	-
Capital Intensity
CAPEX / Current Assets (%)	2.92%	2.89%	2.32%	2.39%	4%	4.11%	4.02%	3.8%
CAPEX / EBITDA (%)	25.81%	23.23%	19.82%	19.29%	27.91%	27.69%	26.18%	24.59%
CAPEX / FCF (%)	76.21%	-93.12%	25.83%	28.22%	65.43%	83.2%	73.05%	63.69%
Items per share
Cash flow per share ¹	205.7	232.6	247.9	224.1	254.8	248.2	286.4	317.6
Change	-	13.08%	6.61%	-9.62%	13.74%	-2.6%	15.39%	10.91%
Dividend per Share ¹	21	25	29	36	43	45.25	50.38	54.83
Change	-	19.05%	16%	24.14%	19.44%	5.23%	11.35%	8.83%
Book Value Per Share ¹	729.3	897.8	1,054	1,231	1,277	1,371	1,489	1,631
Change	-	23.1%	17.44%	16.76%	3.75%	7.34%	8.59%	9.53%
EPS ¹	103.9	120.8	136.9	126.8	133.8	166.8	193.5	220.7
Change	-	16.26%	13.38%	-7.38%	5.56%	24.61%	16.01%	14.06%
Nbr of stocks (in thousands)	4,834,213	4,836,090	4,687,898	4,633,172	4,577,889	4,576,949	4,576,949	4,576,949
Announcement Date	28/04/21	28/04/22	27/04/23	26/04/24	28/04/25	-	-	-