HMCNYSEMotor Vehicles & Passenger Car BodiesFiscal year ends March 31Also trades as HNDAF
HONDA MOTOR CO LTD
Financials through fiscal 2026, year ended Mar 31, 2026Last filing: 20-F on Jun 18, 2026
$34.06−0.22 (-0.64%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
16.5%−4.2 pts over 5 years
Operating margin
-1.9%−6.9 pts over 5 years
Net margin
-1.9%−6.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +0.5% | +8.8% | +10.6% | +4.1% | |
| Gross profit | -22.7% | +2.6% | +5.7% | +1.0% | |
| Free cash flow | – | -31.9% | -7.0% | -3.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | – | 7.7% | -3.5% | |
| Return on assets | 3.3% | 3.1% | -1.3% | |
| Current ratio | 1.21 | 1.33 | 1.28 | |
| Debt to equity | 0.93 | 0.85 | 1.14 | |
| Net debt to EBITDA | 2.16× | 2.38× | 6.81× | |
| Interest coverage | 67.4× | 47.6× | -5.0× | |
| Inventory turnover | – | 6.7× | 7.3× | |
| Capex to revenue | 3.5% | 2.4% | 2.8% | |
| Diluted shares | 5.41B | 5.18B | 4.00B |
Where the cash went
Fiscal 2022 to 2026, five years combined
Honda Motor generated ¥5.98T from operations and spent ¥3.79T on capital expenditure, dividends and share buybacks. 58% of that went back into the business.
Generated
¥5.98T
Used
¥3.79T
Capital expenditure¥2.21T58%Dividends¥1.58T42%Share buybacks¥00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-1.9%
×Asset turnover0.68×
×Equity multiplier2.66×
=Return on equity, FY2026-3.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | -1.9% | 0.68× | 2.66× | -3.5% |
| FY2025 | 3.9% | 0.72× | 2.42× | 6.7% |
| FY2024 | 5.4% | 0.75× | 2.28× | 9.3% |
| FY2023 | 3.9% | 0.70× | 2.25× | 6.0% |
| FY2022 | 4.9% | 0.63× | 2.35× | 7.2% |
| FY2021 | 5.0% | 0.62× | 2.48× | 7.7% |
| FY2020 | 3.1% | 0.73× | 2.51× | 5.6% |
| FY2019 | 3.8% | 0.80× | 2.45× | 7.5% |
| FY2018 | 6.9% | 0.80× | 2.52× | 13.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
3of 9 tests passed in fiscal 2026. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-¥423.94B
- Cash generatingOperating cash flow above zero¥1.14T
- Return on assets improvedROA up on the prior year2.8% → -1.4%
- Earnings backed by cashOperating cash flow above net income¥1.14T vs -¥423.94B
- Less leverageLong-term debt to assets fell22.6% → 25.3%
- Better liquidityCurrent ratio rose1.36 → 1.28
- No dilutionShare count did not rise4.67B → 4.00B
- Gross margin improvedGross margin up on the prior year21.50% → 16.53%
- More efficientAsset turnover rose0.73 → 0.71