HONDA MOTOR CO., LTD. |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,768 JPY | +2.37% |
|
+0.80% | +20.74% |
| May. 18 | UAW's stinging loss in Alabama won't kill national organizing effort | RE |
| May. 17 | Honda Motor Reduces Full-time Production Workforce in China | MT |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 5,269,891 | 4,246,671 | 5,730,736 | 5,964,717 | 5,875,926 | 8,327,842 | - | - |
| Enterprise Value (EV) 1 | 10,106,890 | 9,044,004 | 10,693,701 | 10,392,342 | 9,738,080 | 14,467,229 | 12,010,933 | 12,058,341 |
| P/E ratio | 8.66 x | 9.34 x | 8.72 x | 8.48 x | 9.14 x | 8.37 x | 7.64 x | 7.56 x |
| Yield | 3.71% | 4.61% | 3.31% | 3.44% | 3.42% | 3.6% | 3.93% | 4.16% |
| Capitalization / Revenue | 0.33 x | 0.28 x | 0.44 x | 0.41 x | 0.35 x | 0.45 x | 0.4 x | 0.39 x |
| EV / Revenue | 0.64 x | 0.61 x | 0.81 x | 0.71 x | 0.58 x | 0.71 x | 0.57 x | 0.56 x |
| EV / EBITDA | 6.98 x | 6.78 x | 8.33 x | 7.01 x | 6.24 x | 6.65 x | 5.78 x | 5.81 x |
| EV / FCF | -5.37 x | 25.1 x | 38.8 x | 7.97 x | 6.71 x | -6.04 x | 8.25 x | 9.31 x |
| FCF Yield | -18.6% | 3.98% | 2.58% | 12.5% | 14.9% | -16.5% | 12.1% | 10.7% |
| Price to Book | 0.64 x | 0.52 x | 0.63 x | 0.57 x | 0.52 x | 0.72 x | 0.64 x | 0.61 x |
| Nbr of stocks (in thousands) | 5,278,689 | 5,242,803 | 5,179,936 | 5,131,675 | 5,022,159 | 4,822,143 | - | - |
| Reference price 2 | 998.3 | 810.0 | 1,106 | 1,162 | 1,170 | 1,727 | 1,727 | 1,727 |
| Announcement Date | 5/8/19 | 5/12/20 | 5/14/21 | 5/13/22 | 5/11/23 | 5/10/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 15,888,600 | 14,931,000 | 13,170,500 | 14,552,600 | 16,907,725 | 20,428,802 | 20,955,122 | 21,410,267 |
| EBITDA 1 | 1,448,065 | 1,333,514 | 1,284,447 | 1,482,263 | 1,561,028 | 2,176,343 | 2,076,688 | 2,073,968 |
| EBIT 1 | 726,300 | 633,600 | 660,200 | 871,200 | 839,398 | 1,381,977 | 1,416,367 | 1,470,586 |
| Operating Margin | 4.57% | 4.24% | 5.01% | 5.99% | 4.96% | 6.76% | 6.76% | 6.87% |
| Earnings before Tax (EBT) 1 | 979,300 | 789,900 | 914,000 | 1,070,100 | 879,565 | 1,642,384 | 1,609,767 | 1,645,657 |
| Net income 1 | 610,300 | 455,700 | 657,400 | 707,000 | 651,416 | 1,107,174 | 1,058,158 | 1,104,892 |
| Net margin | 3.84% | 3.05% | 4.99% | 4.86% | 3.85% | 5.42% | 5.05% | 5.16% |
| EPS 2 | 115.3 | 86.71 | 126.9 | 137.0 | 128.0 | 225.9 | 226.2 | 228.3 |
| Free Cash Flow 1 | -1,881,264 | 359,934 | 275,498 | 1,303,566 | 1,450,962 | -2,393,901 | 1,455,894 | 1,295,531 |
| FCF margin | -11.84% | 2.41% | 2.09% | 8.96% | 8.58% | -11.72% | 6.95% | 6.05% |
| FCF Conversion (EBITDA) | - | 26.99% | 21.45% | 87.94% | 92.95% | 75.51% | 70.11% | 62.47% |
| FCF Conversion (Net income) | - | 78.98% | 41.91% | 184.38% | 222.74% | 145.83% | 137.59% | 117.25% |
| Dividend per Share 2 | 37.00 | 37.33 | 36.67 | 40.00 | 40.00 | 68.00 | 67.87 | 71.80 |
| Announcement Date | 5/8/19 | 5/12/20 | 5/14/21 | 5/13/22 | 5/11/23 | 5/10/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2024 S2 | 2025 Q1 | 2025 Q2 | 2025 S1 | 2025 Q3 | 2025 Q4 | 2025 S2 | 2026 S1 | 2026 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 7,725,300 | 7,205,700 | 5,775,100 | 7,395,400 | 3,404,300 | 6,988,200 | 3,688,700 | 3,875,860 | 7,564,400 | 3,829,500 | 4,255,804 | 8,085,304 | 4,438,100 | 4,384,321 | 8,822,421 | 4,624,996 | 4,984,396 | 9,609,392 | 5,390,100 | 5,429,310 | 10,819,410 | 4,976,997 | 5,239,993 | - | 5,373,749 | 5,578,301 | - | - | - |
| EBITDA 1 | - | - | - | - | 355,599 | - | 378,400 | 352,574 | - | 383,647 | 427,125 | - | 460,077 | 290,286 | - | 580,144 | 490,204 | - | 498,400 | 496,591 | - | 535,000 | 530,000 | - | 516,000 | 390,000 | - | - | - |
| EBIT 1 | 472,600 | 161,000 | 169,200 | 491,000 | 198,900 | 442,100 | 229,400 | 199,500 | 429,100 | 222,200 | 231,252 | 453,452 | 280,400 | 105,546 | 385,946 | 394,447 | 302,126 | 696,573 | 379,800 | 305,592 | 685,404 | 413,840 | 431,178 | - | 425,135 | 317,167 | - | - | - |
| Operating Margin | 6.12% | 2.23% | 2.93% | 6.64% | 5.84% | 6.33% | 6.22% | 5.15% | 5.67% | 5.8% | 5.43% | 5.61% | 6.32% | 2.41% | 4.37% | 8.53% | 6.06% | 7.25% | 7.05% | 5.63% | 6.33% | 8.32% | 8.23% | - | 7.91% | 5.69% | - | - | - |
| Earnings before Tax (EBT) 1 | 579,400 | 210,500 | 272,200 | 641,800 | 249,000 | 560,300 | 284,800 | 224,900 | 509,800 | 237,400 | 278,431 | 515,831 | 343,500 | 78,863 | 422,363 | 514,924 | 364,361 | 879,285 | 385,200 | 377,860 | 763,099 | 466,350 | 453,700 | - | 453,050 | 299,000 | - | - | - |
| Net income 1 | 368,800 | 86,900 | 160,000 | 497,400 | 166,600 | 389,200 | 192,900 | 124,800 | 317,800 | 149,200 | 189,314 | 338,514 | 244,600 | 112,153 | 356,753 | 363,069 | 253,232 | 616,301 | 253,299 | 237,565 | 490,873 | 300,050 | 292,250 | - | 291,900 | 193,400 | - | - | - |
| Net margin | 4.77% | 1.21% | 2.77% | 6.73% | 4.89% | 5.57% | 5.23% | 3.22% | 4.2% | 3.9% | 4.45% | 4.19% | 5.51% | 2.56% | 4.04% | 7.85% | 5.08% | 6.41% | 4.7% | 4.38% | 4.54% | 6.03% | 5.58% | - | 5.43% | 3.47% | - | - | - |
| EPS 2 | 69.88 | 16.83 | 30.90 | 96.02 | 32.19 | 75.14 | 37.50 | 24.39 | 61.89 | 29.08 | 36.95 | 66.03 | 48.10 | 22.50 | 70.60 | 73.02 | 51.49 | 124.6 | 52.15 | 49.10 | 101.2 | 71.92 | 59.45 | 154.1 | 66.61 | 35.29 | 63.00 | 163.2 | 64.20 |
| Dividend per Share 2 | 18.67 | 18.67 | 10.00 | 26.67 | 18.33 | 18.33 | - | 21.67 | 21.67 | 21.38 | 20.00 | 20.00 | - | 20.00 | 20.00 | 20.00 | 29.00 | 29.00 | - | 39.00 | - | - | 35.00 | - | - | 35.00 | - | - | - |
| Announcement Date | 11/8/19 | 5/12/20 | 11/6/20 | 5/14/21 | 11/5/21 | 11/5/21 | 2/9/22 | 5/13/22 | 5/13/22 | 8/10/22 | 11/9/22 | 11/9/22 | 2/10/23 | 5/11/23 | 5/11/23 | 8/9/23 | 11/9/23 | 11/9/23 | 2/8/24 | 5/10/24 | 5/10/24 | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 4,836,999 | 4,797,333 | 4,962,965 | 4,427,625 | 3,862,154 | 5,296,328 | 3,683,091 | 3,730,499 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.34 x | 3.598 x | 3.864 x | 2.987 x | 2.474 x | 2.434 x | 1.774 x | 1.799 x |
| Free Cash Flow 1 | -1,881,264 | 359,934 | 275,498 | 1,303,566 | 1,450,962 | -2,393,901 | 1,455,894 | 1,295,531 |
| ROE (net income / shareholders' equity) | 7.5% | 5.6% | 7.69% | 7.2% | 6% | 9.3% | 8.52% | 8.3% |
| ROA (Net income/ Total Assets) | 4.93% | 3.86% | 4.31% | 4.66% | 3.86% | 6.03% | 5.3% | 5.01% |
| Assets 1 | 12,390,847 | 11,791,922 | 15,241,054 | 15,159,540 | 16,887,218 | 18,351,143 | 19,978,432 | 22,043,840 |
| Book Value Per Share 2 | 1,566 | 1,547 | 1,753 | 2,041 | 2,240 | 2,629 | 2,713 | 2,827 |
| Cash Flow per Share 2 | 252.0 | 220.0 | 207.0 | 255.0 | 270.0 | 388.0 | 412.0 | 388.0 |
| Capex 1 | 2,657,252 | 370,195 | 318,410 | 2,503,820 | 2,233,521 | 348,680 | 620,000 | 515,098 |
| Capex / Sales | 16.72% | 2.48% | 2.42% | 17.21% | 13.21% | 1.71% | 2.96% | 2.41% |
| Announcement Date | 5/8/19 | 5/12/20 | 5/14/21 | 5/13/22 | 5/11/23 | 5/10/24 | - | - |
1JPY in Million2JPY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
18
Last Close Price
1,727
JPY
Average target price
1,972
JPY
Spread / Average Target
+14.20%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +17.80% | 53.58B | |
| +32.64% | 298B | |
| +7.69% | 72.03B | |
| -4.72% | 65.72B | |
| +27.39% | 52.18B | |
| +0.66% | 49.03B | |
| +22.06% | 41.62B | |
| +19.90% | 39.28B | |
| +44.77% | 33.62B | |
| +47.34% | 28.09B |
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