Honda Motor Co., Ltd. (HMC) Key Metrics

NYSE: HMCValuation, returns, debt and efficiency ratios over 10 years.

HMC key metrics, FY2017–FY2026

Fiscal year ended March 31, 2026 · Japanese yen

HMC returns How much profit the business earns on the capital it uses.

Return on equity−10.2 pts
−3.5%
FY2026 · hover or tap a bar for each year
FY2017: 8.4% (+3.5 pts)FY2018: 13.4% (+5.0 pts)FY2019: 7.3% (−6.1 pts)FY2020: 5.4% (−1.9 pts)FY2021: 7.6% (+2.2 pts)FY2022: 7.2% (−0.3 pts)FY2023: 6.0% (−1.2 pts)FY2024: 9.3% (+3.3 pts)FY2025: 6.7% (−2.6 pts)FY2026: −3.5% (−10.2 pts)
FY2017FY2026
Return on invested capital−7.6 pts
−2.0%
FY2026 · hover or tap a bar for each year
FY2017: 4.7% (+2.0 pts)FY2018: 6.7% (+2.0 pts)FY2019: 3.9% (−2.9 pts)FY2020: 3.1% (−0.8 pts)FY2021: 3.9% (+0.8 pts)FY2022: 4.5% (+0.7 pts)FY2023: 4.3% (−0.2 pts)FY2024: 6.2% (+1.8 pts)FY2025: 5.6% (−0.5 pts)FY2026: −2.0% (−7.6 pts)
FY2017FY2026
Return on assets−4.1 pts
−1.3%
FY2026 · hover or tap a bar for each year
FY2017: 3.3% (+1.4 pts)FY2018: 5.5% (+2.2 pts)FY2019: 3.1% (−2.5 pts)FY2020: 2.2% (−0.8 pts)FY2021: 3.1% (+0.9 pts)FY2022: 3.1% (0.0 pts)FY2023: 2.7% (−0.4 pts)FY2024: 4.1% (+1.4 pts)FY2025: 2.8% (−1.3 pts)FY2026: −1.3% (−4.1 pts)
FY2017FY2026
Free cash flow margin+3.7 pts
1.1%
FY2026 · hover or tap a bar for each year
FY2017: 1.8% (−1.8 pts)FY2018: 2.7% (+0.9 pts)FY2019: 1.1% (−1.6 pts)FY2020: 2.5% (+1.5 pts)FY2021: 4.0% (+1.4 pts)FY2022: 8.5% (+4.5 pts)FY2023: 8.9% (+0.4 pts)FY2024: 0.7% (−8.2 pts)FY2025: −2.6% (−3.2 pts)FY2026: 1.1% (+3.7 pts)
FY2017FY2026
Asset turnover−5.6%
0.68
FY2026 · hover or tap a bar for each year
FY2017: 0.75 (−6.0%)FY2018: 0.80 (+6.5%)FY2019: 0.80 (−0.4%)FY2020: 0.73 (−8.6%)FY2021: 0.62 (−14.9%)FY2022: 0.63 (+2.0%)FY2023: 0.70 (+9.6%)FY2024: 0.75 (+8.0%)FY2025: 0.72 (−4.5%)FY2026: 0.68 (−5.6%)
FY2017FY2026

HMC returns on capital

ROEROICROA

Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.

HMC debt vs cash

Total debtCash & short-term investments

Debt includes short- and long-term borrowings and, where reported, lease liabilities.

HMC cash returned to shareholders

DividendsBuybacksFree cash flow

HMC key metrics in Japanese yen

FY2017–FY2026
Honda Motor Co., Ltd. key metrics by fiscal year
FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
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 margin1.1%−2.6%0.7%8.9%8.5%4.0%2.5%1.1%2.7%1.8%
Income quality (OCF / net income)—0.350.673.272.381.632.151.270.931.44
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 / equity1.140.360.790.680.770.740.940.860.830.91
Debt / assets0.400.140.340.310.340.310.380.360.350.36
Net debt / EBITDA8.59−0.151.962.172.782.913.242.762.382.72
Current ratio1.281.361.431.441.471.331.261.231.231.21
Quick ratio1.031.071.131.111.151.060.990.960.960.96
Interest coverage-5.022.123.221.651.7——55.064.367.4
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 flow401.6%—354.9%24.7%20.4%27.8%77.5%153.9%62.9%65.5%
Capex / revenue4.1%3.9%3.0%3.7%3.1%4.2%4.0%3.8%3.7%4.6%
Capex / operating cash flow79.1%290.1%81.5%29.7%26.7%51.4%61.4%78.3%58.0%72.0%
Capex / depreciation0.691.140.770.880.740.880.860.840.800.95
Stock-based compensation / revenue——0.0%0.0%0.0%0.0%0.0%0.0%——
R&D / revenue7.1%5.1%4.5%5.2%5.4%5.6%5.4%5.1%4.9%4.9%
SG&A / revenue11.4%10.8%10.3%9.5%9.1%10.1%11.0%11.2%11.6%11.4%
Efficiency
Days sales outstanding69.264.960.459.942.545.964.361.962.870.3
Days of inventory on hand50.352.752.554.954.754.348.545.143.945.0
Days payables outstanding34.635.134.635.836.735.833.035.036.638.8
Cash conversion cycle (days)84.882.578.379.060.564.479.772.070.176.5
Receivables turnover5.285.626.056.098.587.955.685.905.815.19
Payables turnover10.5410.4010.5510.209.9510.2011.0610.449.979.40
Inventory turnover7.266.936.956.656.686.727.538.098.318.12
Asset turnover0.680.720.750.700.630.620.730.800.800.75
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 assets4.7%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.

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