Financials Honda Motor Co., Ltd.

Equities

7267

JP3854600008

Auto & Truck Manufacturers

Market Closed - Japan Exchange Other stock markets 07:30:00 10/04/2026 BST			5-day change	1st Jan Change
1,269.50 ^JPY	-0.51%		+0.04%	-17.35%

08:53am	Japan's Isuzu to delay launch of fuel-cell truck developed with Honda that it had aimed to introduce in 2027, Kyodo says	RE
02:52am	SoftBank has set up a company in Japan to develop AI domestically, Nikkei says	RE

Projected Income Statement: Honda Motor Co., Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	13,170,500	14,552,600	16,907,725	20,428,802	21,688,767	21,209,881	22,247,022	22,855,483
Change	-	10.49%	16.18%	20.83%	6.17%	-2.21%	4.89%	2.74%
EBITDA ¹	1,284,447	1,482,263	1,561,028	2,176,343	1,956,349	1,249,408	1,624,916	1,940,951
Change	-	15.4%	5.31%	39.42%	-10.11%	-36.14%	30.05%	19.45%
EBIT ¹	660,200	871,200	839,398	1,381,977	1,213,486	-407,958	520,095	1,141,723
Change	-	31.96%	-3.65%	64.64%	-12.19%	-133.62%	227.49%	119.52%
Interest Paid ¹	-13,877	-16,867	-36,112	-59,631	-54,907	-61,444	-61,300	-63,800
Earnings before Tax (EBT) ¹	914,000	1,070,100	879,565	1,642,384	1,317,640	74,486	643,064	1,236,613
Change	-	17.08%	-17.81%	86.73%	-19.77%	-94.35%	763.33%	92.3%
Net income ¹	657,400	707,000	651,416	1,107,174	835,837	-239,891	321,207	772,811
Change	-	7.54%	-7.86%	69.96%	-24.51%	-128.7%	233.9%	140.6%
Announcement Date	14/05/21	13/05/22	11/05/23	10/05/24	13/05/25	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	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	2027 Q1	2027 Q2	2027 Q3	2027 Q4	2028 Q1	2028 Q2	2028 Q3
Net sales ¹	3,623,800	3,583,800	3,404,300	3,688,700	3,875,860	3,829,500	4,255,804	4,438,100	4,384,321	4,624,996	4,984,396	5,390,100	5,429,310	5,404,858	5,392,755	5,531,112	5,360,042	5,340,268	5,292,412	5,342,984	5,223,656	5,684,413	5,675,528	5,878,093	5,432,356	6,079,208	6,100,873	6,086,160
Change	-	-1.1%	-5.01%	8.35%	5.07%	-1.2%	11.13%	4.28%	-1.21%	5.49%	7.77%	8.14%	0.73%	-0.45%	-0.22%	2.57%	-3.09%	-0.37%	-0.9%	0.96%	-2.23%	8.82%	-0.16%	3.57%	-7.58%	11.91%	0.36%	-0.24%
EBITDA ¹	392,902	394,501	355,599	378,400	352,574	383,647	427,125	460,077	290,286	580,144	490,204	498,400	496,591	672,631	436,783	578,476	268,459	-	494,385	330,048	219,000	545,000	567,000	428,000	291,000	-	-	-
Change	-	0.41%	-9.86%	6.41%	-6.83%	8.81%	11.33%	7.71%	-36.9%	99.85%	-15.5%	1.67%	-0.36%	35.45%	-35.06%	32.44%	-53.59%	-	-	-33.24%	-33.65%	148.86%	4.04%	-24.51%	-32.01%	-	-	-
EBIT ¹	213,200	243,200	198,900	229,400	199,500	222,200	231,252	280,400	105,546	394,447	302,126	379,800	305,592	484,705	257,903	397,312	73,566	244,170	193,974	153,361	-826,116	194,752	153,763	126,240	-45,812	401,530	325,747	269,618
Change	-	14.07%	-18.22%	15.33%	-13.03%	11.38%	4.07%	21.25%	-62.36%	273.72%	-23.41%	25.71%	-19.54%	58.61%	-46.79%	54.05%	-81.48%	231.91%	-20.56%	-20.94%	-638.67%	123.57%	-21.05%	-17.9%	-136.29%	976.48%	-18.87%	-17.23%
Charge d'intérêts	-5,314	-2,925	-3,503	-3,241	-7,198	-7,427	-8,223	-9,564	-10,898	-9,042	-10,853	-12,141	-	-12,219	-12,777	-13,046	-	-13,905	-	-13,813	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	255,300	311,300	249,000	284,800	224,900	237,400	278,431	343,500	78,863	514,924	364,361	385,200	377,860	559,474	182,479	483,606	92,081	292,334	235,085	244,368	-567,566	302,637	304,980	253,273	-81.06	325,231	398,743	303,724
Change	-	21.93%	-20.01%	14.38%	-21.03%	5.56%	17.28%	23.37%	-77.04%	552.93%	-29.24%	5.72%	-1.91%	48.06%	-67.38%	165.02%	-80.96%	217.47%	-19.58%	3.95%	-332.26%	153.32%	0.77%	-16.95%	-100.03%	401,306.55%	22.6%	-23.83%
Net income ¹	213,300	222,500	166,600	192,900	124,800	149,200	189,314	244,600	112,153	363,069	253,232	253,299	237,565	394,660	100,023	310,580	30,574	196,670	115,159	153,608	-665,179	190,829	192,611	158,428	-8,390	197,946	247,934	183,321
Change	-	4.31%	-25.12%	15.79%	-35.3%	19.55%	26.89%	29.2%	-54.15%	223.73%	-30.25%	0.03%	-6.21%	66.13%	-74.66%	210.51%	-90.16%	543.26%	-41.45%	33.39%	-533.04%	128.69%	0.93%	-17.75%	-105.3%	2,459.26%	25.25%	-26.06%
Announcement Date	14/05/21	04/08/21	05/11/21	09/02/22	13/05/22	10/08/22	09/11/22	10/02/23	11/05/23	09/08/23	09/11/23	08/02/24	10/05/24	07/08/24	06/11/24	13/02/25	13/05/25	06/08/25	07/11/25	10/02/26	-	-	-	-	-	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2	2026 S1	2026 S2	2027 S1	2027 S2	2028 S1
Net sales ¹	6,988,200	7,564,400	8,085,304	8,822,421	9,609,392	10,819,410	10,797,613	10,891,154	10,632,680	10,489,727	11,678,061	11,360,876	12,263,467
Change	-	8.25%	6.89%	9.12%	8.92%	12.59%	-0.2%	0.87%	-2.37%	-1.34%	11.33%	-2.72%	7.94%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	442,100	429,100	453,452	385,946	696,573	685,404	742,608	470,878	438,144	-747,365	140,378	-184,736	763,737
Change	-	-2.94%	5.68%	-14.89%	80.48%	-1.6%	8.35%	-36.59%	-6.95%	-270.58%	118.78%	-231.6%	513.42%
Charge d'intérêts	-6,428	-10,439	-15,650	-20,462	-19,895	-	-24,996	-	-29,348	-	-	-	-
Earnings before Tax (EBT) ¹	560,300	509,800	515,831	422,363	879,285	763,099	741,953	575,687	527,419	213,000	-	-	-
Change	-	-9.01%	1.18%	-18.12%	108.18%	-13.21%	-2.77%	-22.41%	-8.38%	-59.61%	-	-	-
Net income ¹	389,200	317,800	338,514	356,753	616,301	490,873	494,683	341,154	311,829	128,000	-	-	-
Change	-	-18.35%	6.52%	5.39%	72.75%	-20.35%	0.78%	-31.04%	-8.6%	-58.95%	-	-	-
Announcement Date	05/11/21	13/05/22	09/11/22	11/05/23	09/11/23	10/05/24	06/11/24	13/05/25	07/11/25	-	-	-	-

¹JPY in Million

Estimates

Forecast Balance Sheet: Honda Motor Co., Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	4,962,965	4,427,625	3,862,154	5,208,992	6,922,472	7,227,908	7,528,528	7,712,963
Change	-	-10.79%	-12.77%	34.87%	32.89%	4.41%	4.16%	2.45%
Announcement Date	14/05/21	13/05/22	11/05/23	10/05/24	13/05/25	-	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: Honda Motor Co., Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	318,410	2,503,820	475,048	348,680	510,803	649,636	643,690	654,111
Change	-	686.35%	-81.03%	-26.6%	46.5%	27.18%	-0.92%	1.62%
Free Cash Flow (FCF) ¹	275,498	1,303,566	1,450,962	-119,989	-649,814	-808,492	237,196	551,824
Change	-	373.17%	11.31%	-108.27%	-441.56%	-24.42%	129.34%	132.64%
Announcement Date	14/05/21	13/05/22	11/05/23	10/05/24	13/05/25	-	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: Honda Motor Co., Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	9.75%	10.19%	9.23%	10.65%	9.02%	5.89%	7.3%	8.49%
EBIT Margin (%)	5.01%	5.99%	4.96%	6.76%	5.59%	-1.92%	2.34%	5%
EBT Margin (%)	6.94%	7.35%	5.2%	8.04%	6.08%	0.35%	2.89%	5.41%
Net margin (%)	4.99%	4.86%	3.85%	5.42%	3.85%	-1.13%	1.44%	3.38%
FCF margin (%)	2.09%	8.96%	8.58%	-0.59%	-3%	-3.81%	1.07%	2.41%
FCF / Net Income (%)	41.91%	184.38%	222.74%	-10.84%	-77.74%	337.02%	73.85%	71.4%
Profitability
ROA	3.1%	4.66%	3.86%	6.03%	4.35%	-0.3%	3.65%	3.65%
ROE	7.69%	7.2%	6%	9.3%	6.7%	-0.44%	2.41%	6.83%
Financial Health
Leverage (Debt/EBITDA)	3.86x	2.99x	2.47x	2.39x	3.54x	5.79x	4.63x	3.97x
Debt / Free cash flow	18.01x	3.4x	2.66x	-43.41x	-10.65x	-8.94x	31.74x	13.98x
Capital Intensity
CAPEX / Current Assets (%)	2.42%	17.21%	2.81%	1.71%	2.36%	3.06%	2.89%	2.86%
CAPEX / EBITDA (%)	24.79%	168.92%	30.43%	16.02%	26.11%	52%	39.61%	33.7%
CAPEX / FCF (%)	115.58%	192.07%	32.74%	-290.59%	-78.61%	-80.35%	271.37%	118.54%
Items per share
Cash flow per share ¹	207	255.5	269.8	388	338	293.1	309.6	440.4
Change	-	23.39%	5.62%	43.79%	-12.89%	-13.26%	5.61%	42.25%
Dividend per Share ¹	36.67	40	40	68	68	70.53	72.14	76.12
Change	-	9.09%	0%	70%	0%	3.72%	2.28%	5.52%
Book Value Per Share ¹	1,753	2,041	2,240	2,629	2,836	2,965	2,974	3,105
Change	-	16.39%	9.76%	17.38%	7.86%	4.53%	0.31%	4.4%
EPS ¹	126.9	137	128	225.9	178.9	-60.29	73.16	194.7
Change	-	7.97%	-6.58%	76.46%	-20.79%	-133.7%	221.34%	166.15%
Nbr of stocks (in thousands)	5,179,936	5,131,675	5,022,159	4,849,763	4,409,423	3,892,552	3,892,552	3,892,552
Announcement Date	14/05/21	13/05/22	11/05/23	10/05/24	13/05/25	-	-	-