Financials Honda Motor Co., Ltd.

Equities

7267

JP3854600008

Auto & Truck Manufacturers

Market Closed - Japan Exchange Other stock markets 07:00:00 13/09/2024 BST			5-day change	1st Jan Change
1,472.00 ^JPY	-1.44%		-3.63%	+0.41%

09-13	Chinese EV giant BYD ramps up hiring as Beijing prioritises employment	RE
09-11	Honda, Indian Institutes of Technology Collaborate on AI Technologies	MT

Projected Income Statement: Honda Motor Co., Ltd.

Fiscal Period: Marzo	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	14,931,000	13,170,500	14,552,600	16,907,725	20,428,802	21,446,697	21,602,620	22,222,670
Change	-	-11.79%	10.49%	16.18%	20.83%	4.98%	0.73%	2.87%
EBITDA ¹	1,333,514	1,284,447	1,482,263	1,561,028	2,176,343	2,134,433	2,155,242	2,239,591
Change	-	-3.68%	15.4%	5.31%	39.42%	-1.93%	0.97%	3.91%
EBIT ¹	633,600	660,200	871,200	839,398	1,381,977	1,529,839	1,527,748	1,558,275
Change	-	4.2%	31.96%	-3.65%	64.64%	10.7%	-0.14%	2%
Interest Paid	-24,689	-13,877	-16,867	-36,112	-59,631	-	-	-
Earnings before Tax (EBT) ¹	789,900	914,000	1,070,100	879,565	1,642,384	1,673,261	1,667,488	1,745,767
Change	-	15.71%	17.08%	-17.81%	86.73%	1.88%	-0.35%	4.69%
Net income ¹	455,700	657,400	707,000	651,416	1,107,174	1,098,121	1,127,299	1,186,718
Change	-	44.26%	7.54%	-7.86%	69.96%	-0.82%	2.66%	5.27%
Announcement Date	12/05/20	14/05/21	13/05/22	11/05/23	10/05/24	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2020 Q1	2020 Q2	2020 Q3	2020 Q4	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	3,996,253	3,729,100	3,747,500	3,458,000	2,123,700	3,651,300	3,771,569	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	5,385,881	5,409,346	5,413,482	5,405,246	5,581,952	5,585,678	5,626,733
Change	-	-6.69%	0.49%	-7.73%	-38.59%	71.93%	3.29%	-3.92%	-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%	1.89%	0.44%	0.08%	-0.15%	3.27%	0.07%	0.73%
EBITDA ¹	422,485	378,023	368,424	164,550	-23,100	372,800	427,996	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	540,000	523,000	399,000	-	-	-	-
Change	-	-10.52%	-2.54%	-55.34%	-	-	14.81%	-8.2%	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%	-5.26%	-3.15%	-23.71%	-100%	-	-	-
EBIT ¹	252,400	220,100	166,600	-5,600	-113,600	282,900	277,735	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	444,641	380,129	245,477	454,387	423,217	345,722	239,362
Change	-	-12.8%	-24.31%	-	1,928.57%	-	-1.83%	-23.24%	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%	-8.6%	-14.51%	-35.42%	85.1%	-6.86%	-18.31%	-30.76%
Charge d'intérêts	-3,595	-4,000	-7,530	-9,564	-1,833	-4,716	-2,014	-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	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	289,800	289,600	206,700	3,700	-73,400	345,700	386,423	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	442,822	421,933	230,237	418,882	411,703	396,760	284,600
Change	-	-0.07%	-28.63%	-98.21%	-	-	11.78%	-33.93%	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%	-8.83%	-4.72%	-45.43%	81.94%	-1.71%	-3.63%	-28.27%
Net income ¹	172,300	196,500	116,400	-29,500	-80,800	240,900	284,051	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	307,827	261,858	127,716	273,508	268,980	258,238	185,095
Change	-	14.05%	-40.76%	-	173.9%	-	17.91%	-24.91%	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%	-4.84%	-14.93%	-51.23%	114.15%	-1.66%	-3.99%	-28.32%
Announcement Date	02/08/19	08/11/19	07/02/20	12/05/20	05/08/20	06/11/20	09/02/21	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	-	-	-	-	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2	2026 S1	2026 S2
Net sales ¹	7,205,700	5,775,100	7,395,400	6,988,200	7,564,400	8,085,304	8,822,421	9,609,392	10,819,410	10,809,562	10,568,825	11,324,291	11,295,376
Change	-	-19.85%	28.06%	-5.51%	8.25%	6.89%	9.12%	8.92%	12.59%	-0.09%	-2.23%	7.15%	-0.26%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	161,000	169,200	491,000	442,100	429,100	453,452	385,946	696,573	685,404	964,864	547,122	1,134,431	528,179
Change	-	5.09%	190.19%	-9.96%	-2.94%	5.68%	-14.89%	80.48%	-1.6%	40.77%	-43.3%	107.35%	-53.44%
Charge d'intérêts	-17,094	-6,549	-7,328	-6,428	-10,439	-15,650	-20,462	-19,895	-	-	-	-	-
Earnings before Tax (EBT) ¹	210,500	272,200	641,800	560,300	509,800	515,831	422,363	879,285	763,099	987,000	603,000	-	-
Change	-	29.31%	135.78%	-12.7%	-9.01%	1.18%	-18.12%	108.18%	-13.21%	29.34%	-38.91%	-100%	-
Net income ¹	86,900	160,000	497,400	389,200	317,800	338,514	356,753	616,301	490,873	680,000	380,000	-	-
Change	-	84.12%	210.88%	-21.75%	-18.35%	6.52%	5.39%	72.75%	-20.35%	38.53%	-44.12%	-100%	-
Announcement Date	12/05/20	06/11/20	14/05/21	05/11/21	13/05/22	09/11/22	11/05/23	09/11/23	10/05/24	-	-	-	-

¹JPY in Million

Estimates

Forecast Balance Sheet: Honda Motor Co., Ltd.

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	4,797,333	4,962,965	4,427,625	3,862,154	5,208,992	6,042,746	5,798,075	6,447,259
Change	-	3.45%	-10.79%	-12.77%	34.87%	16.01%	-4.05%	11.2%
Announcement Date	12/05/20	14/05/21	13/05/22	11/05/23	10/05/24	-	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: Honda Motor Co., Ltd.

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	370,195	318,410	2,503,820	2,233,521	348,680	672,936	628,390	651,490
Change	-	-13.99%	686.35%	-10.8%	-84.39%	93%	-6.62%	3.68%
Free Cash Flow (FCF) ¹	359,934	275,498	1,303,566	1,450,962	-119,989	361,907	1,068,202	1,005,171
Change	-	-23.46%	373.17%	11.31%	-108.27%	-401.62%	195.16%	-5.9%
Announcement Date	12/05/20	14/05/21	13/05/22	11/05/23	10/05/24	-	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: Honda Motor Co., Ltd.

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	8.93%	9.75%	10.19%	9.23%	10.65%	9.95%	9.98%	10.08%
EBIT Margin (%)	4.24%	5.01%	5.99%	4.96%	6.76%	7.13%	7.07%	7.01%
EBT Margin (%)	5.29%	6.94%	7.35%	5.2%	8.04%	7.8%	7.72%	7.86%
Net margin (%)	3.05%	4.99%	4.86%	3.85%	5.42%	5.12%	5.22%	5.34%
FCF margin (%)	2.41%	2.09%	8.96%	8.58%	-0.59%	1.69%	4.94%	4.52%
FCF / Net Income (%)	78.98%	41.91%	184.38%	222.74%	-10.84%	32.96%	94.76%	84.7%
Profitability
ROA	3.86%	4.31%	4.66%	3.86%	6.03%	5.18%	4.9%	4.87%
ROE	5.6%	7.69%	7.2%	6%	9.3%	8.56%	8.2%	8.07%
Financial Health
Leverage (Debt/EBITDA)	3.6x	3.86x	2.99x	2.47x	2.39x	2.83x	2.69x	2.88x
Debt / Free cash flow	13.33x	18.01x	3.4x	2.66x	-43.41x	16.7x	5.43x	6.41x
Capital Intensity
CAPEX / Current Assets (%)	2.48%	2.42%	17.21%	13.21%	1.71%	3.14%	2.91%	2.93%
CAPEX / EBITDA (%)	27.76%	24.79%	168.92%	143.08%	16.02%	31.53%	29.16%	29.09%
CAPEX / FCF (%)	102.85%	115.58%	192.07%	153.93%	-290.59%	185.94%	58.83%	64.81%
Items per share
Cash flow per share ¹	219.9	207	255.5	269.8	388	448.6	429.3	461.3
Change	-	-5.84%	23.39%	5.62%	43.79%	15.64%	-4.3%	7.45%
Dividend per Share ¹	37.33	36.67	40	40	68	71.34	75.3	79.54
Change	-	-1.79%	9.09%	0%	70%	4.91%	5.56%	5.62%
Book Value Per Share ¹	1,547	1,753	2,041	2,240	2,629	2,843	3,006	3,214
Change	-	13.35%	16.39%	9.76%	17.38%	8.12%	5.74%	6.92%
EPS ¹	86.71	126.9	137	128	225.9	229.9	239.6	258.1
Change	-	46.37%	7.97%	-6.58%	76.46%	1.77%	4.25%	7.68%
Nbr of stocks (in thousands)	5,242,803	5,179,936	5,131,675	5,022,159	4,849,763	4,754,879	4,754,879	4,754,879
Announcement Date	12/05/20	14/05/21	13/05/22	11/05/23	10/05/24	-	-	-