Honda Motor Co., Ltd. (HMC) Key Metrics
HMC key metrics, FY2017–FY2026
Fiscal year ended March 31, 2026 · Japanese yenHMC returns How much profit the business earns on the capital it uses.
HMC financial health Debt, liquidity and how easily interest is covered.
HMC efficiency & capital use Working capital cycle and where the cash goes.
HMC returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
HMC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
HMC cash returned to shareholders
HMC key metrics in Japanese yen
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −3.5% | 6.7% | 9.3% | 6.0% | 7.2% | 7.6% | 5.4% | 7.3% | 13.4% | 8.4% |
| Return on invested capital (ROIC) | −2.0% | 5.6% | 6.2% | 4.3% | 4.5% | 3.9% | 3.1% | 3.9% | 6.7% | 4.7% |
| Return on assets (ROA) | −1.3% | 2.8% | 4.1% | 2.7% | 3.1% | 3.1% | 2.2% | 3.1% | 5.5% | 3.3% |
| Return on tangible assets | −1.3% | 2.8% | 3.8% | 2.7% | 3.1% | 3.1% | 2.3% | 3.1% | 5.7% | 3.4% |
| Free cash flow margin | 1.1% | −2.6% | 0.7% | 8.9% | 8.5% | 4.0% | 2.5% | 1.1% | 2.7% | 1.8% |
| Income quality (OCF / net income) | — | 0.35 | 0.67 | 3.27 | 2.38 | 1.63 | 2.15 | 1.27 | 0.93 | 1.44 |
| Financial health | ||||||||||
| Total debt | ¥13.54T | ¥4.42T | ¥10.08T | ¥7.62T | ¥8.05T | ¥6.74T | ¥7.77T | ¥7.39T | ¥6.86T | ¥6.86T |
| Cash & short-term investments | ¥5.09T | ¥4.74T | ¥5.18T | ¥4.07T | ¥3.89T | ¥3.05T | ¥2.86T | ¥2.66T | ¥2.47T | ¥2.26T |
| Net debt | ¥8.45T | −¥315.04B | ¥4.90T | ¥3.56T | ¥4.16T | ¥3.69T | ¥4.91T | ¥4.74T | ¥4.39T | ¥4.60T |
| Debt / equity | 1.14 | 0.36 | 0.79 | 0.68 | 0.77 | 0.74 | 0.94 | 0.86 | 0.83 | 0.91 |
| Debt / assets | 0.40 | 0.14 | 0.34 | 0.31 | 0.34 | 0.31 | 0.38 | 0.36 | 0.35 | 0.36 |
| Net debt / EBITDA | 8.59 | −0.15 | 1.96 | 2.17 | 2.78 | 2.91 | 3.24 | 2.76 | 2.38 | 2.72 |
| Current ratio | 1.28 | 1.36 | 1.43 | 1.44 | 1.47 | 1.33 | 1.26 | 1.23 | 1.23 | 1.21 |
| Quick ratio | 1.03 | 1.07 | 1.13 | 1.11 | 1.15 | 1.06 | 0.99 | 0.96 | 0.96 | 0.96 |
| Interest coverage | -5.0 | 22.1 | 23.2 | 21.6 | 51.7 | — | — | 55.0 | 64.3 | 67.4 |
| Working capital | ¥2.88T | ¥3.07T | ¥3.55T | ¥2.93T | ¥2.84T | ¥1.86T | ¥1.51T | ¥1.37T | ¥1.30T | ¥1.13T |
| Invested capital | ¥20.32T | ¥12.01T | ¥17.60T | ¥14.74T | ¥14.63T | ¥12.77T | ¥13.20T | ¥13.30T | ¥12.62T | ¥12.17T |
| Tangible asset value | ¥10.63T | ¥11.50T | ¥12.01T | ¥10.63T | ¥9.92T | ¥8.55T | ¥7.53T | ¥7.82T | ¥7.49T | ¥6.79T |
| Net current asset value | −¥8.32T | −¥6.46T | −¥4.90T | −¥3.59T | −¥4.36T | −¥4.97T | −¥4.87T | −¥4.51T | −¥4.19T | −¥4.83T |
| Capital allocation | ||||||||||
| Dividends paid | ¥284.39B | ¥347.81B | ¥241.87B | ¥213.47B | ¥188.40B | ¥145.09B | ¥196.79B | ¥194.27B | ¥174.22B | ¥162.21B |
| Share buybacks (net) | ¥670.27B | ¥722.04B | ¥250.01B | ¥156.62B | ¥62.18B | ¥0 | ¥96.11B | ¥64.56B | ¥87.08B | ¥11.0M |
| Dividend payout ratio | — | 41.6% | 21.8% | 32.8% | 26.6% | 22.1% | 43.2% | 31.8% | 16.4% | 26.3% |
| Dividends + buybacks / free cash flow | 401.6% | — | 354.9% | 24.7% | 20.4% | 27.8% | 77.5% | 153.9% | 62.9% | 65.5% |
| Capex / revenue | 4.1% | 3.9% | 3.0% | 3.7% | 3.1% | 4.2% | 4.0% | 3.8% | 3.7% | 4.6% |
| Capex / operating cash flow | 79.1% | 290.1% | 81.5% | 29.7% | 26.7% | 51.4% | 61.4% | 78.3% | 58.0% | 72.0% |
| Capex / depreciation | 0.69 | 1.14 | 0.77 | 0.88 | 0.74 | 0.88 | 0.86 | 0.84 | 0.80 | 0.95 |
| Stock-based compensation / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| R&D / revenue | 7.1% | 5.1% | 4.5% | 5.2% | 5.4% | 5.6% | 5.4% | 5.1% | 4.9% | 4.9% |
| SG&A / revenue | 11.4% | 10.8% | 10.3% | 9.5% | 9.1% | 10.1% | 11.0% | 11.2% | 11.6% | 11.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 69.2 | 64.9 | 60.4 | 59.9 | 42.5 | 45.9 | 64.3 | 61.9 | 62.8 | 70.3 |
| Days of inventory on hand | 50.3 | 52.7 | 52.5 | 54.9 | 54.7 | 54.3 | 48.5 | 45.1 | 43.9 | 45.0 |
| Days payables outstanding | 34.6 | 35.1 | 34.6 | 35.8 | 36.7 | 35.8 | 33.0 | 35.0 | 36.6 | 38.8 |
| Cash conversion cycle (days) | 84.8 | 82.5 | 78.3 | 79.0 | 60.5 | 64.4 | 79.7 | 72.0 | 70.1 | 76.5 |
| Receivables turnover | 5.28 | 5.62 | 6.05 | 6.09 | 8.58 | 7.95 | 5.68 | 5.90 | 5.81 | 5.19 |
| Payables turnover | 10.54 | 10.40 | 10.55 | 10.20 | 9.95 | 10.20 | 11.06 | 10.44 | 9.97 | 9.40 |
| Inventory turnover | 7.26 | 6.93 | 6.95 | 6.65 | 6.68 | 6.72 | 7.53 | 8.09 | 8.31 | 8.12 |
| Asset turnover | 0.68 | 0.72 | 0.75 | 0.70 | 0.63 | 0.62 | 0.73 | 0.80 | 0.80 | 0.75 |
| Average receivables | ¥4.13T | ¥3.86T | ¥3.38T | ¥2.78T | ¥1.70T | ¥1.66T | ¥2.63T | ¥2.69T | ¥2.64T | ¥2.70T |
| Average payables | ¥1.73T | ¥1.64T | ¥1.52T | ¥1.33T | ¥1.16T | ¥1.02T | ¥1.07T | ¥1.20T | ¥1.20T | ¥1.16T |
| Average inventory | ¥2.51T | ¥2.46T | ¥2.31T | ¥2.04T | ¥1.73T | ¥1.55T | ¥1.57T | ¥1.56T | ¥1.44T | ¥1.34T |
| Intangibles / total assets | 4.7% | 3.7% | 3.4% | 3.5% | 3.5% | 3.7% | 3.7% | 3.6% | 3.8% | 4.1% |
Computed from HMC's annual financial statements (latest annual report filed June 18, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Japanese yen; data from EODHD. Averages use the opening and closing balance of each year.
HMC valuation and financial ratios
Honda Motor earned a return on equity of −3.5% and a return on invested capital of −2.0% in fiscal 2026. It ended the year with ¥13.54 trillion of debt and ¥5.09 trillion in cash and short-term investments, net debt of ¥8.45 trillion. It returned ¥954.7 billion to shareholders: ¥284.4 billion in dividends and ¥670.3 billion in share buybacks, 402% of free cash flow.
See the HMC income statement, the HMC chart for price history, or the HMC stock overview for the latest quote and news.
HMC key metrics FAQ
What is Honda Motor's return on equity?
Honda Motor's return on equity (ROE) was −3.5% in fiscal 2026: net income of -¥423.9 billion on average shareholders' equity of ¥12.10 trillion.
What is Honda Motor's ROIC?
Honda Motor's return on invested capital was −2.0% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Honda Motor have?
Honda Motor had total debt of ¥13.54 trillion at the end of fiscal 2026, a debt-to-equity ratio of 1.14 and ¥8.45 trillion of net debt (8.59 times EBITDA).
Does Honda Motor buy back its shares?
Yes. Honda Motor spent ¥670.3 billion on net share repurchases in fiscal 2026.
What is Honda Motor's current ratio?
Honda Motor's current ratio was 1.28 at the end of fiscal 2026: current assets were 1.28 times current liabilities.