HONDA MOTOR CO., LTD. |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,783 JPY | -0.25% |
|
+1.05% | +21.62% |
| 02/05 | Dongfeng Motor to Invest 60 Billion Yuan in NEVs Over Three Years | MT |
| 02/05 | Japan's Nikkei squeezes out modest gains as yen, Wall Street weigh | RE |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 52,69,891 | 42,46,671 | 57,30,736 | 59,64,717 | 58,75,926 | 85,97,820 | - | - |
| Enterprise Value (EV) 1 | 1,01,06,890 | 90,44,004 | 1,06,93,701 | 1,03,92,342 | 97,38,080 | 1,25,04,961 | 1,24,54,372 | 1,24,13,147 |
| P/E ratio | 8.66 x | 9.34 x | 8.72 x | 8.48 x | 9.14 x | 8.6 x | 8.31 x | 7.82 x |
| Yield | 3.71% | 4.61% | 3.31% | 3.44% | 3.42% | 3.34% | 3.7% | 3.9% |
| Capitalization / Revenue | 0.33 x | 0.28 x | 0.44 x | 0.41 x | 0.35 x | 0.42 x | 0.41 x | 0.4 x |
| EV / Revenue | 0.64 x | 0.61 x | 0.81 x | 0.71 x | 0.58 x | 0.61 x | 0.6 x | 0.58 x |
| EV / EBITDA | 6.98 x | 6.78 x | 8.33 x | 7.01 x | 6.24 x | 6.38 x | 5.97 x | 6.02 x |
| EV / FCF | -5.37 x | 25.1 x | 38.8 x | 7.97 x | 6.71 x | 8.45 x | 9.45 x | 9.33 x |
| FCF Yield | -18.6% | 3.98% | 2.58% | 12.5% | 14.9% | 11.8% | 10.6% | 10.7% |
| Price to Book | 0.64 x | 0.52 x | 0.63 x | 0.57 x | 0.52 x | 0.74 x | 0.69 x | 0.64 x |
| Nbr of stocks (in thousands) | 52,78,689 | 52,42,803 | 51,79,936 | 51,31,675 | 50,22,159 | 48,22,109 | - | - |
| Reference price 2 | 998.3 | 810.0 | 1,106 | 1,162 | 1,170 | 1,783 | 1,783 | 1,783 |
| Announcement Date | 08/05/19 | 12/05/20 | 14/05/21 | 13/05/22 | 11/05/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,58,88,600 | 1,49,31,000 | 1,31,70,500 | 1,45,52,600 | 1,69,07,725 | 2,03,90,072 | 2,08,88,106 | 2,13,99,499 |
| EBITDA 1 | 14,48,065 | 13,33,514 | 12,84,447 | 14,82,263 | 15,61,028 | 19,59,728 | 20,85,431 | 20,63,536 |
| EBIT 1 | 7,26,300 | 6,33,600 | 6,60,200 | 8,71,200 | 8,39,398 | 13,27,075 | 14,10,253 | 14,52,307 |
| Operating Margin | 4.57% | 4.24% | 5.01% | 5.99% | 4.96% | 6.51% | 6.75% | 6.79% |
| Earnings before Tax (EBT) 1 | 9,79,300 | 7,89,900 | 9,14,000 | 10,70,100 | 8,79,565 | 15,13,488 | 15,73,428 | 16,29,008 |
| Net income 1 | 6,10,300 | 4,55,700 | 6,57,400 | 7,07,000 | 6,51,416 | 10,14,797 | 10,44,761 | 10,93,049 |
| Net margin | 3.84% | 3.05% | 4.99% | 4.86% | 3.85% | 4.98% | 5% | 5.11% |
| EPS 2 | 115.3 | 86.71 | 126.9 | 137.0 | 128.0 | 207.3 | 214.5 | 228.1 |
| Free Cash Flow 1 | -18,81,264 | 3,59,934 | 2,75,498 | 13,03,566 | 14,50,962 | 14,79,882 | 13,17,245 | 13,30,816 |
| FCF margin | -11.84% | 2.41% | 2.09% | 8.96% | 8.58% | 7.26% | 6.31% | 6.22% |
| FCF Conversion (EBITDA) | - | 26.99% | 21.45% | 87.94% | 92.95% | 75.51% | 63.16% | 64.49% |
| FCF Conversion (Net income) | - | 78.98% | 41.91% | 184.38% | 222.74% | 145.83% | 126.08% | 121.75% |
| Dividend per Share 2 | 37.00 | 37.33 | 36.67 | 40.00 | 40.00 | 59.50 | 65.91 | 69.62 |
| Announcement Date | 08/05/19 | 12/05/20 | 14/05/21 | 13/05/22 | 11/05/23 | - | - | - |
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 | 77,25,300 | 72,05,700 | 57,75,100 | 73,95,400 | 34,04,300 | 69,88,200 | 36,88,700 | 38,75,860 | 75,64,400 | 38,29,500 | 42,55,804 | 80,85,304 | 44,38,100 | 43,84,321 | 88,22,421 | 46,24,996 | 49,84,396 | 96,09,392 | 53,90,100 | 54,78,733 | 1,03,91,000 | 50,23,497 | 52,81,963 | - | 53,34,698 | 55,72,229 | - | - | - |
| EBITDA 1 | - | - | - | - | 3,55,599 | - | 3,78,400 | 3,52,574 | - | 3,83,647 | 4,27,125 | - | 4,60,077 | 2,90,286 | - | 5,80,144 | 4,90,204 | - | 4,98,400 | 5,36,373 | - | 5,04,000 | 5,12,000 | - | 5,14,000 | 4,12,000 | - | - | - |
| EBIT 1 | 4,72,600 | 1,61,000 | 1,69,200 | 4,91,000 | 1,98,900 | 4,42,100 | 2,29,400 | 1,99,500 | 4,29,100 | 2,22,200 | 2,31,252 | 4,53,452 | 2,80,400 | 1,05,546 | 3,85,946 | 3,94,447 | 3,02,126 | 6,96,573 | 3,79,800 | 2,41,766 | 6,53,000 | 3,99,787 | 4,57,571 | - | 3,90,180 | 2,64,250 | - | - | - |
| 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% | 4.41% | 6.28% | 7.96% | 8.66% | - | 7.31% | 4.74% | - | - | - |
| Earnings before Tax (EBT) 1 | 5,79,400 | 2,10,500 | 2,72,200 | 6,41,800 | 2,49,000 | 5,60,300 | 2,84,800 | 2,24,900 | 5,09,800 | 2,37,400 | 2,78,431 | 5,15,831 | 3,43,500 | 78,863 | 4,22,363 | 5,14,924 | 3,64,361 | 8,79,285 | 3,85,200 | 2,71,635 | 6,66,000 | 4,47,187 | 5,00,803 | - | 4,32,104 | 3,04,000 | - | - | - |
| Net income 1 | 3,68,800 | 86,900 | 1,60,000 | 4,97,400 | 1,66,600 | 3,89,200 | 1,92,900 | 1,24,800 | 3,17,800 | 1,49,200 | 1,89,314 | 3,38,514 | 2,44,600 | 1,12,153 | 3,56,753 | 3,63,069 | 2,53,232 | 6,16,301 | 2,53,299 | 1,63,245 | 4,24,000 | 2,91,869 | 3,27,914 | - | 2,78,901 | 1,97,400 | - | - | - |
| 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% | 2.98% | 4.08% | 5.81% | 6.21% | - | 5.23% | 3.54% | - | - | - |
| 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 | 28.78 | 84.31 | 71.26 | 78.01 | 154.1 | 55.48 | -0.1353 | 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 | - | 35.00 | - | - | 35.00 | - | - | 35.00 | - | - | - |
| Announcement Date | 08/11/19 | 12/05/20 | 06/11/20 | 14/05/21 | 05/11/21 | 05/11/21 | 09/02/22 | 13/05/22 | 13/05/22 | 10/08/22 | 09/11/22 | 09/11/22 | 10/02/23 | 11/05/23 | 11/05/23 | 09/08/23 | 09/11/23 | 09/11/23 | 08/02/24 | - | - | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 48,36,999 | 47,97,333 | 49,62,965 | 44,27,625 | 38,62,154 | 39,07,140 | 38,56,552 | 38,15,327 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.34 x | 3.598 x | 3.864 x | 2.987 x | 2.474 x | 1.994 x | 1.849 x | 1.849 x |
| Free Cash Flow 1 | -18,81,264 | 3,59,934 | 2,75,498 | 13,03,566 | 14,50,962 | 14,79,882 | 13,17,245 | 13,30,816 |
| ROE (net income / shareholders' equity) | 7.5% | 5.6% | 7.69% | 7.2% | 6% | 8.87% | 8.55% | 8.43% |
| ROA (Net income/ Total Assets) | 4.93% | 3.86% | 4.31% | 4.66% | 3.86% | 5.18% | 5.04% | 5.12% |
| Assets 1 | 1,23,90,847 | 1,17,91,922 | 1,52,41,054 | 1,51,59,540 | 1,68,87,218 | 1,95,98,698 | 2,07,40,164 | 2,13,47,021 |
| Book Value Per Share 2 | 1,566 | 1,547 | 1,753 | 2,041 | 2,240 | 2,416 | 2,588 | 2,765 |
| Cash Flow per Share 2 | 252.0 | 220.0 | 207.0 | 255.0 | 270.0 | 412.0 | 413.0 | 384.0 |
| Capex 1 | 26,57,252 | 3,70,195 | 3,18,410 | 25,03,820 | 22,33,521 | 4,26,082 | 4,71,991 | 4,94,527 |
| Capex / Sales | 16.72% | 2.48% | 2.42% | 17.21% | 13.21% | 2.09% | 2.26% | 2.31% |
| Announcement Date | 08/05/19 | 12/05/20 | 14/05/21 | 13/05/22 | 11/05/23 | - | - | - |
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
1,783
JPY
Average target price
1,971
JPY
Spread / Average Target
+10.55%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +21.62% | 54.69B | |
| +38.24% | 308B | |
| +13.37% | 78.36B | |
| +1.16% | 68.96B | |
| +24.36% | 50.71B | |
| +2.46% | 48.71B | |
| +32.34% | 44.29B | |
| +23.34% | 39.48B | |
| +26.64% | 28.77B | |
| +17.36% | 25.92B |
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