Cash flow Mitsubishi Heavy Industries, Ltd.

Equities

7011

JP3900000005

Consumer Goods Conglomerates

Market Closed - Japan Exchange Other stock markets 06:30:00 12/12/2025 GMT			5-day change	1st Jan Change
4,157.00 ^JPY	+2.64%		+1.81%	+87.00%

12-11	Mitsui to Invest in U.S. Geothermal Startup to Expand Next-Gen Power	MT
12-09	Fervo Energy Company announced that it has received $462 million in funding from a group of investors	CI

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Published financial data: MITSUBISHI HEAVY INDUSTRIES, LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	3,700B	3,860B	4,203B	4,657B	5,027B
Total Revenues	3,700B	3,860B	4,203B	4,657B	5,027B
Cost of Goods Sold, Total	3,116B	3,204B	3,438B	3,727B	3,996B
Gross Profit	583B	656B	765B	930B	1,031B
Selling General & Admin Expenses, Total	428B	460B	520B	547B	581B
Provision for Bad Debts	770M	2.56B	3.97B	3.45B	6.86B
R&D Expenses	68.38B	72.07B	75.29B	121B	99.28B
Depreciation & Amortization - (IS)	33.88B	22.3B	24.61B	23.78B	29.93B
Other Operating Expenses	25.29B	-12.53B	-38.93B	-27.98B	-16.67B
Other Operating Expenses, Total	557B	544B	585B	667B	700B
Operating Income	26.8B	112B	180B	263B	331B
Interest Expense, Total	-10.43B	-12.41B	-14.3B	-12.62B	-15.74B
Interest And Investment Income	5.39B	5.7B	10.36B	10.37B	10.7B
Net Interest Expenses	-5.04B	-6.71B	-3.94B	-2.25B	-5.03B
Income (Loss) On Equity Invest.	15.16B	16.86B	13.5B	2.15B	-2.75B
Currency Exchange Gains (Loss)	4.97B	23.14B	18.24B	39.02B	1.86B
Other Non Operating Income (Expenses)	-4.66B	-2.99B	-16.49B	-4.13B	-5.49B
EBT, Excl. Unusual Items	37.24B	142B	192B	298B	320B
Restructuring Charges	-10.9B	-	-16.03B	-	-
Gain (Loss) On Sale Of Investments	83.92B	2.11B	4.62B	-	-3.09B
Gain (Loss) On Sale Of Assets	38.66B	33.17B	21.86B	22.06B	60.11B
Asset Writedown	-99.55B	-3.61B	-10.94B	-4.42B	-2.04B
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	49.35B	174B	191B	315B	375B
Income Tax Expense	6.15B	48.03B	44.82B	71.62B	113B
Earnings From Continuing Operations	43.2B	126B	146B	244B	262B
Net Income to Company	43.2B	126B	146B	244B	262B
Minority Interest	-2.56B	-12.11B	-15.86B	-21.54B	-16.55B
Net Income - (IS)	40.64B	114B	130B	222B	245B
Net Income to Common Incl Extra Items	40.64B	114B	130B	222B	245B
Net Income to Common Excl. Extra Items	40.64B	114B	130B	222B	245B
Per Share Items
Net EPS - Basic	12.09	33.82	38.84	66.07	73.04
Basic EPS - Continuing Operations	12.09	33.82	38.84	66.07	73.04
Basic Weighted Average Shares Outstanding	3.36B	3.36B	3.36B	3.36B	3.36B
Net EPS - Diluted	12.08	33.8	38.83	66.04	73.02
Diluted EPS - Continuing Operations	12.08	33.8	38.83	66.04	73.02
Diluted Weighted Average Shares Outstanding	3.36B	3.36B	3.36B	3.36B	3.36B
Normalized Basic EPS	6.16	22.83	30.94	48.93	54.51
Normalized Diluted EPS	6.16	22.82	30.92	48.91	54.5
Dividend Per Share	7.5	10	13	20	23
Payout Ratio	63.16	35.43	29.54	22.65	31.44
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	265B	247B	329B	419B	492B
EBITA	26.8B	112B	180B	263B	331B
EBIT	26.8B	112B	180B	263B	331B
Effective Tax Rate - (Ratio)	12.47	27.65	23.45	22.72	30.05
Normalized Net Income	20.71B	76.65B	104B	164B	183B
Non-Cash Pension Expense	9.21B	14.83B	15.48B	18.62B	16.93B
Supplemental Operating Expense Items
Advertising Expense	50.17B	50.61B	53.04B	52.79B	52.43B
Selling and Marketing Expenses	50.17B	50.61B	53.04B	52.79B	52.43B
Research And Development Expense From Footnotes	68.38B	72.07B	75.29B	77.64B	74.27B

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	245B	314B	348B	431B	658B
Total Cash And Short Term Investments	245B	314B	348B	431B	658B
Accounts Receivable, Total	655B	744B	805B	916B	985B
Total Receivables	655B	744B	805B	916B	985B
Inventory	713B	799B	877B	975B	1,063B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	841B	946B	1,013B	1,098B	1,207B
Total Current Assets	2,455B	2,803B	3,042B	3,420B	3,912B
Net Property Plant And Equipment	873B	888B	926B	1,002B	1,022B
Long-term Investments	905B	873B	946B	1,271B	1,205B
Goodwill	124B	129B	131B	172B	173B
Other Intangibles, Total	74.72B	70.4B	70.16B	93.79B	87.27B
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	378B	352B	359B	297B	260B
Other Long-Term Assets, Total	5M	2M	5M	4M	3M
Total Assets	4,811B	5,116B	5,475B	6,256B	6,659B
Liabilities
Accounts Payable, Total	764B	863B	895B	959B	930B
Short-term Borrowings	247B	67.32B	61.93B	72.07B	62.31B
Current Portion of Long-Term Debt	199B	237B	287B	307B	218B
Current Income Taxes Payable	12.24B	28.78B	19.66B	55.23B	25.28B
Other Current Liabilities	1,124B	1,284B	1,360B	1,547B	1,910B
Total Current Liabilities	2,345B	2,481B	2,624B	2,941B	3,146B
Long-Term Debt	791B	774B	843B	764B	851B
Pension & Other Post Retirement Benefits	124B	76.82B	76.15B	73.16B	72.04B
Deferred Tax Liability Non Current	6.6B	6.22B	10.46B	9.99B	9.59B
Other Non Current Liabilities	104B	116B	86.7B	108B	110B
Total Liabilities	3,371B	3,454B	3,641B	3,896B	4,189B
Common Stock, Total	266B	266B	266B	266B	266B
Additional Paid In Capital	47.26B	45.06B	41.26B	41.19B	44.74B
Retained Earnings	953B	1,099B	1,218B	1,433B	1,589B
Treasury Stock	-4.45B	-5.95B	-5.38B	-4.83B	-16.45B
Comprehensive Income and Other	105B	173B	221B	509B	464B
Total Common Equity	1,366B	1,577B	1,741B	2,245B	2,347B
Minority Interest	73.05B	85.92B	93.01B	116B	123B
Total Equity	1,439B	1,663B	1,834B	2,361B	2,470B
Total Liabilities And Equity	4,811B	5,116B	5,475B	6,256B	6,659B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	3.36B	3.36B	3.36B	3.36B	3.36B
ECS Total Common Shares Outstanding	3.36B	-	3.36B	3.36B	3.36B
Book Value / Share	406.47	469.64	518.31	667.86	698.91
Tangible Book Value	1,167B	1,378B	1,540B	1,978B	2,086B
Tangible Book Value Per Share	347.21	410.34	458.37	588.63	621.41
Total Debt	1,236B	1,078B	1,192B	1,143B	1,131B
Net Debt	991B	764B	845B	712B	473B
Debt Equivalent of Unfunded Proj. Benefit Obligation	45.87B	-15.97B	-44.67B	-295B	-280B
Minority Interest, Total (Incl. Fin. Div)	73.05B	85.92B	93.01B	116B	123B
Equity Method Investments, Total	183B	213B	227B	269B	295B
Inventories - Raw Materials, Total	143B	164B	166B	196B	217B
Inventories - Work In Process, Total	326B	354B	392B	421B	474B
Inventories - Finished Goods, Total	198B	239B	275B	316B	334B
Inventories - Others	47.47B	42.13B	43.98B	40.94B	38.02B
Full Time Employees	79.97K	77.99K	76.86K	77.7K	77.27K
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-
Order Backlog	5,146B	5,489B	6,062B	8,401B	10,236B

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	49.36B	174B	191B	315B	375B
Depreciation & Amortization - CF	238B	136B	149B	156B	161B
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	238B	136B	149B	156B	161B
(Gain) Loss From Sale Of Asset	-38.66B	-32.2B	-21.86B	-21.43B	-60.11B
(Gain) Loss on Sale of Investments - (CF)	-83.04B	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-15.16B	-16.86B	-13.5B	-2.15B	2.75B
Other Operating Activities, Total	-83.64B	18.46B	-56.5B	-67.87B	-87.66B
Change In Accounts Receivable	-27.74B	-51.03B	-32.98B	-60.3B	-29.67B
Change In Inventories	57.22B	-89.96B	-65.69B	-70.4B	-147B
Change In Accounts Payable	-68.73B	73.1B	-55.68B	20.73B	13.48B
Change in Other Net Operating Assets	-123B	74.58B	-12.57B	61.52B	304B
Cash from Operations	-94.95B	286B	80.89B	331B	530B
Capital Expenditure	-146B	-129B	-132B	-160B	-241B
Sale of Property, Plant, and Equipment	43.96B	51.74B	38.06B	37.26B	76.47B
Cash Acquisitions	-	4.8B	-2.56B	-73.59B	-1.51B
Divestitures	775M	10.5B	-944M	-	-1.48B
Investment in Marketable and Equity Securities, Total	-3.28B	83.66B	54.06B	44.45B	-7.17B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-7.55B	1.8B	-1.27B	1.1B	-15.04B
Other Investing Activities, Total	-69.94B	-6.95B	-1.03B	20.2B	1.69B
Cash from Investing	-182B	16.31B	-45.58B	-131B	-188B
Short Term Debt Issued, Total	96.78B	-	-	9.28B	-
Long-Term Debt Issued, Total	278B	77.33B	70.97B	48B	39.01B
Total Debt Issued	374B	77.33B	70.97B	57.28B	39.01B
Short Term Debt Repaid, Total	-	-182B	-4.53B	-	-9.39B
Long-Term Debt Repaid, Total	-68.15B	-76.34B	-108B	-79.65B	-107B
Total Debt Repaid	-68.15B	-259B	-112B	-79.65B	-116B
Repurchase of Common Stock	-	-2.55B	-16M	-	-12.37B
Common Dividends Paid	-25.67B	-40.22B	-38.53B	-50.29B	-77.16B
Common & Preferred Stock Dividends Paid	-25.67B	-40.22B	-38.53B	-50.29B	-77.16B
Other Financing Activities, Total	-58.73B	-31.67B	60.87B	-86.25B	52.41B
Cash from Financing	222B	-256B	-18.9B	-159B	-114B
Foreign Exchange Rate Adjustments	19.26B	22.74B	17B	42.39B	-2.09B
Miscellaneous Cash Flow Adjustments	-	1M	-	-	-2M
Net Change in Cash	-36.2B	68.84B	33.41B	83.62B	227B
Supplemental Items
Cash Interest Paid	9.54B	10.56B	13.11B	11.18B	14.46B
Cash Income Tax Paid (Refund)	89.1B	1.79B	75.89B	49.2B	106B
Levered Free Cash Flow	310B	64.93B	13.65B	144B	156B
Unlevered Free Cash Flow	317B	72.69B	22.59B	152B	166B
Change In Net Working Capital	-208B	3.66B	107B	7.8B	-39.3B
Net Debt Issued / Repaid	306B	-181B	-41.22B	-22.36B	-77.01B

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	0.34	1.41	2.13	2.8	3.2
Return on Total Capital	0.63	2.58	3.91	5.03	5.82
Return On Equity %	3.17	8.1	8.37	11.61	10.85
Return on Common Equity	3.14	7.72	7.86	11.14	10.69
Margin Analysis
Gross Profit Margin %	15.77	16.99	18.2	19.97	20.51
SG&A Margin	11.58	11.91	12.37	11.75	11.55
EBITDA Margin %	7.16	6.41	7.82	8.99	9.78
EBITA Margin %	0.72	2.89	4.29	5.64	6.58
EBIT Margin %	0.72	2.89	4.29	5.64	6.58
Income From Continuing Operations Margin %	1.17	3.26	3.48	5.23	5.21
Net Income Margin %	1.1	2.94	3.1	4.77	4.88
Net Avail. For Common Margin %	1.1	2.94	3.1	4.77	4.88
Normalized Net Income Margin	0.56	1.99	2.47	3.53	3.64
Levered Free Cash Flow Margin	8.39	1.68	0.32	3.09	3.11
Unlevered Free Cash Flow Margin	8.56	1.88	0.54	3.26	3.3
Asset Turnover
Asset Turnover	0.76	0.78	0.79	0.79	0.78
Fixed Assets Turnover	4.2	4.38	4.63	4.83	4.97
Receivables Turnover (Average Receivables)	5.84	5.52	5.43	5.41	5.29
Inventory Turnover (Average Inventory)	4.33	4.24	4.1	4.03	3.92
Short Term Liquidity
Current Ratio	1.05	1.13	1.16	1.16	1.24
Quick Ratio	0.38	0.43	0.44	0.46	0.52
Operating Cash Flow to Current Liabilities	-0.04	0.12	0.03	0.11	0.17
Days Sales Outstanding (Average Receivables)	62.5	66.17	67.27	67.61	69
Days Outstanding Inventory (Average Inventory)	84.31	86.12	88.95	90.91	93.04
Average Days Payable Outstanding	93.36	90.27	91.28	88.72	84.42
Cash Conversion Cycle (Average Days)	53.45	62.02	64.93	69.8	77.62
Long Term Solvency
Total Debt/Equity	85.87	64.86	65.02	48.42	45.8
Total Debt / Total Capital	46.2	39.34	39.4	32.62	31.41
LT Debt/Equity	54.94	46.53	45.98	32.35	34.45
Long-Term Debt / Total Capital	29.56	28.23	27.87	21.8	23.62
Total Liabilities / Total Assets	70.08	67.51	66.5	62.27	62.91
EBIT / Interest Expense	2.57	9	12.6	20.82	21.03
EBITDA / Interest Expense	25.42	19.94	22.99	33.18	31.24
(EBITDA - Capex) / Interest Expense	11.4	9.52	13.77	20.46	15.94
Total Debt / EBITDA	4.66	4.36	3.63	2.73	2.3
Net Debt / EBITDA	3.74	3.09	2.57	1.7	0.96
Total Debt / (EBITDA - Capex)	10.4	9.12	6.05	4.43	4.51
Net Debt / (EBITDA - Capex)	8.33	6.46	4.29	2.76	1.89
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-8.45	4.33	8.87	10.81	7.95
Gross Profit, 1 Yr. Growth %	-17.82	12.41	16.63	21.58	10.87
EBITDA, 1 Yr. Growth %	-45.14	-6.63	32.87	27.3	17.43
EBITA, 1 Yr. Growth %	-83.16	316.76	61.41	45.72	25.96
EBIT, 1 Yr. Growth %	-83.16	316.76	61.41	45.72	25.96
Earnings From Cont. Operations, 1 Yr. Growth %	-59.73	190.86	16.44	66.47	7.57
Net Income, 1 Yr. Growth %	-53.35	179.39	14.89	70.2	10.55
Normalized Net Income, 1 Yr. Growth %	-75.76	270.1	35.56	58.25	11.4
Diluted EPS Before Extra, 1 Yr. Growth %	-53.36	179.77	14.85	70.09	10.57
Accounts Receivable, 1 Yr. Growth %	7.06	13.63	8.08	13.84	7.5
Inventory, 1 Yr. Growth %	-1.75	11.93	9.8	11.14	9.02
Net Property, Plant and Equip., 1 Yr. Growth %	-1.81	1.77	4.24	8.19	2.01
Total Assets, 1 Yr. Growth %	-3.51	6.35	7.01	14.27	6.44
Tangible Book Value, 1 Yr. Growth %	14.99	18.03	11.77	28.49	5.47
Common Equity, 1 Yr. Growth %	12.15	15.39	10.42	28.93	4.55
Cash From Operations, 1 Yr. Growth %	-120.98	-400.76	-71.67	309.44	60.17
Capital Expenditures, 1 Yr. Growth %	-40.63	-11.6	2.05	21.67	49.98
Levered Free Cash Flow, 1 Yr. Growth %	-19.88	-79.08	-78.98	954.69	8.56
Unlevered Free Cash Flow, 1 Yr. Growth %	-19.43	-77.06	-68.92	572.16	9.4
Dividend Per Share, 1 Yr. Growth %	-50	33.33	30	53.85	15
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-4.75	-2.27	6.58	9.84	9.37
Gross Profit, 2 Yr. CAGR %	-12.84	-3.89	14.5	19.08	16.1
EBITDA, 2 Yr. CAGR %	-20.85	-28.43	11.39	30.06	22.27
EBITA, 2 Yr. CAGR %	-65.43	-16.22	159.36	53.36	35.48
EBIT, 2 Yr. CAGR %	-65.43	-16.22	159.36	53.36	35.48
Earnings From Cont. Operations, 2 Yr. CAGR %	-42.01	8.22	84.03	39.23	33.82
Net Income, 2 Yr. CAGR %	-36.68	14.16	79.16	39.84	37.17
Normalized Net Income, 2 Yr. CAGR %	-57.99	-5.28	123.99	46.47	32.77
Diluted EPS Before Extra, 2 Yr. CAGR %	-36.69	14.23	79.26	39.77	37.14
Accounts Receivable, 2 Yr. CAGR %	-4.44	10.29	10.82	10.92	10.63
Inventory, 2 Yr. CAGR %	-1.76	4.86	10.86	10.47	10.08
Net Property, Plant and Equip., 2 Yr. CAGR %	5.47	-0.04	3	6.19	5.05
Total Assets, 2 Yr. CAGR %	-3.28	1.3	6.68	10.58	10.29
Tangible Book Value, 2 Yr. CAGR %	-1.46	16.5	14.86	19.84	16.41
Common Equity, 2 Yr. CAGR %	-2.28	13.76	12.88	19.32	16.1
Cash From Operations, 2 Yr. CAGR %	-51.58	-20.57	-7.7	7.69	156.08
Capital Expenditures, 2 Yr. CAGR %	-19.26	-27.56	-5.02	11.43	35.08
Levered Free Cash Flow, 2 Yr. CAGR %	-15.4	-59.06	-79.03	48.9	238.38
Unlevered Free Cash Flow, 2 Yr. CAGR %	-14.88	-57.01	-73.3	44.53	171.17
Dividend Per Share, 2 Yr. CAGR %	-24.04	-18.35	31.66	41.42	33.01
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-3.45	-1.82	1.31	7.97	9.2
Gross Profit, 3 Yr. CAGR %	-7.24	-5.13	2.52	16.82	16.28
EBITDA, 3 Yr. CAGR %	-6	-16.37	-12.03	16.46	25.7
EBITA, 3 Yr. CAGR %	-42.77	-20.73	4.25	114.01	43.63
EBIT, 3 Yr. CAGR %	-40.39	-20.73	4.25	114.01	43.63
Earnings From Cont. Operations, 3 Yr. CAGR %	-23.41	-0.74	10.89	77.98	27.75
Net Income, 3 Yr. CAGR %	-16.77	3.86	14.4	76.12	29.3
Normalized Net Income, 3 Yr. CAGR %	-25.74	-13.24	6.75	99.49	33.7
Diluted EPS Before Extra, 3 Yr. CAGR %	-16.75	3.89	14.44	76.15	29.27
Accounts Receivable, 3 Yr. CAGR %	-18.8	1.24	9.55	11.82	9.77
Inventory, 3 Yr. CAGR %	-16.21	2.61	6.49	10.95	9.99
Net Property, Plant and Equip., 3 Yr. CAGR %	0.2	4.22	1.37	4.7	4.78
Total Assets, 3 Yr. CAGR %	-4.29	-0.17	3.17	9.15	9.18
Tangible Book Value, 3 Yr. CAGR %	-10.25	4.65	14.9	19.23	14.84
Common Equity, 3 Yr. CAGR %	-9.23	3.29	12.64	17.99	14.18
Cash From Operations, 3 Yr. CAGR %	-34.96	-10.99	-43.67	51.66	22.93
Capital Expenditures, 3 Yr. CAGR %	-3.98	-16.78	-18.79	3.15	23.03
Levered Free Cash Flow, 3 Yr. CAGR %	26.02	-46.9	-67.22	-22.59	34.01
Unlevered Free Cash Flow, 3 Yr. CAGR %	25.39	-45.02	-61.42	-21.75	31.72
Dividend Per Share, 3 Yr. CAGR %	-14.5	-8.37	-4.66	38.67	32
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-1.78	-0.28	0.44	2.69	4.46
Gross Profit, 5 Yr. CAGR %	-7.51	-2.2	0.92	3.9	7.75
EBITDA, 5 Yr. CAGR %	-11.18	-6.15	0.6	-0.21	0.35
EBITA, 5 Yr. CAGR %	-39.14	-7.74	4.74	3.21	15.77
EBIT, 5 Yr. CAGR %	-38.69	-5.79	7.34	3.21	15.77
Earnings From Cont. Operations, 5 Yr. CAGR %	-10.83	3.6	8.75	13.65	19.55
Net Income, 5 Yr. CAGR %	-8.64	5.3	13.1	16.98	23.02
Normalized Net Income, 5 Yr. CAGR %	-34.02	3.16	15.49	6.98	16.48
Diluted EPS Before Extra, 5 Yr. CAGR %	-8.63	5.33	13.14	16.98	23.03
Accounts Receivable, 5 Yr. CAGR %	-11.37	-8.66	-8.04	5.01	9.98
Inventory, 5 Yr. CAGR %	-11.74	-9.64	-6.28	5.68	7.91
Net Property, Plant and Equip., 5 Yr. CAGR %	-2.44	-1.02	1.31	5.01	2.83
Total Assets, 5 Yr. CAGR %	-2.61	-1.37	-0.05	4	5.96
Tangible Book Value, 5 Yr. CAGR %	-3.63	-2.15	-0.94	10.48	15.5
Common Equity, 5 Yr. CAGR %	-4.08	-2.45	-0.96	9.42	14.01
Cash From Operations, 5 Yr. CAGR %	-18.86	24.38	-25.19	-3.94	3.23
Capital Expenditures, 5 Yr. CAGR %	-1.93	-8.38	-4.4	-6.47	-0.46
Levered Free Cash Flow, 5 Yr. CAGR %	5.31	81.25	-38.5	-19.79	-16.6
Unlevered Free Cash Flow, 5 Yr. CAGR %	5.03	47.3	-32.46	-19.07	-15.83
Dividend Per Share, 5 Yr. CAGR %	-8.97	-3.58	1.61	9	8.92