Mizuho Financial Group, Inc. (MFG) Key Metrics
MFG key metrics, FY2017–FY2026
Fiscal year ended March 31, 2026 · Japanese yenMFG returns How much profit the business earns on the capital it uses.
MFG financial health Debt, liquidity and how easily interest is covered.
MFG efficiency & capital use Working capital cycle and where the cash goes.
MFG returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MFG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MFG cash returned to shareholders
MFG key metrics in Japanese yen
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 12.1% | 8.6% | 7.0% | 6.1% | 5.8% | 5.3% | 5.2% | 1.0% | 6.0% | 6.5% |
| Return on assets (ROA) | 0.5% | 0.3% | 0.3% | 0.2% | 0.2% | 0.2% | 0.2% | 0.0% | 0.3% | 0.3% |
| Return on tangible assets | 0.4% | 0.3% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.0% | 0.3% | 0.3% |
| Free cash flow margin | 5.1% | −48.4% | 20.7% | 177.7% | 168.5% | 567.7% | 46.4% | −80.0% | 87.4% | 143.0% |
| Income quality (OCF / net income) | 0.45 | −4.32 | 2.78 | 15.96 | 9.27 | 35.27 | 4.24 | −27.30 | 5.15 | 7.77 |
| Financial health | ||||||||||
| Total debt | ¥66.86T | ¥60.89T | ¥58.95T | ¥45.34T | ¥40.96T | ¥40.31T | ¥35.21T | ¥30.22T | ¥15.77T | ¥16.57T |
| Cash & short-term investments | ¥93.07T | ¥83.48T | ¥72.97T | ¥67.15T | ¥51.36T | ¥74.42T | ¥59.15T | ¥62.11T | ¥71.39T | ¥67.69T |
| Net debt | −¥26.21T | −¥22.59T | −¥14.02T | −¥21.82T | −¥10.39T | −¥34.11T | −¥23.94T | −¥31.89T | −¥55.62T | −¥51.11T |
| Debt / equity | 5.88 | 5.83 | 5.76 | 4.96 | 4.51 | 4.35 | 4.12 | 3.45 | 1.61 | 1.79 |
| Debt / assets | 0.22 | 0.21 | 0.21 | 0.18 | 0.17 | 0.18 | 0.16 | 0.15 | 0.08 | 0.08 |
| Net debt / EBITDA | −13.36 | −16.18 | −12.38 | −23.06 | −13.51 | −41.64 | −30.87 | −110.53 | −56.88 | −53.62 |
| Current ratio | 2.04 | 0.39 | 0.34 | 0.34 | 0.28 | 0.42 | 0.35 | 0.39 | 15.37 | 37.73 |
| Quick ratio | 2.04 | 0.39 | 0.34 | 0.34 | 0.28 | 0.90 | 0.85 | 0.90 | 32.49 | 37.73 |
| Interest coverage | 0.4 | 0.2 | 0.2 | 0.4 | 1.9 | 1.5 | 0.5 | 0.1 | 1.0 | 1.4 |
| Working capital | ¥47.54T | −¥135.14T | −¥143.41T | −¥130.02T | −¥130.93T | −¥102.91T | −¥110.37T | −¥99.07T | ¥67.30T | ¥154.23T |
| Invested capital | −¥14.85T | −¥12.15T | −¥3.79T | −¥12.68T | −¥1.32T | −¥24.85T | −¥15.38T | −¥23.14T | −¥45.80T | −¥41.84T |
| Tangible asset value | ¥10.57T | ¥9.71T | ¥9.59T | ¥8.64T | ¥8.60T | ¥8.74T | ¥7.97T | ¥8.51T | ¥8.73T | ¥8.23T |
| Net current asset value | −¥199.03T | −¥186.61T | −¥195.39T | −¥177.90T | −¥176.51T | −¥141.02T | −¥146.14T | −¥128.72T | −¥123.23T | −¥32.81T |
| Capital allocation | ||||||||||
| Dividends paid | ¥390.94B | ¥304.43B | ¥234.79B | ¥209.46B | ¥196.78B | ¥190.50B | ¥190.39B | ¥190.41B | ¥190.38B | ¥190.03B |
| Share buybacks (net) | ¥428.71B | ¥102.92B | ¥3.38B | ¥43.62B | ¥1.93B | ¥7.26B | ¥38.29B | ¥2.12B | ¥1.61B | ¥3.13B |
| Dividend payout ratio | 29.5% | 34.4% | 34.6% | 37.7% | 37.1% | 40.4% | 42.4% | 197.2% | 33.0% | 31.5% |
| Dividends + buybacks / free cash flow | 168.1% | — | 14.6% | 2.9% | 4.2% | 1.2% | 13.7% | — | 7.0% | 4.5% |
| Capex / revenue | 1.1% | 4.0% | 3.3% | 3.7% | 4.9% | 7.5% | 6.6% | 4.4% | 7.7% | 13.0% |
| Capex / operating cash flow | 17.4% | — | 13.6% | 2.1% | 2.8% | 1.3% | 12.5% | — | 8.1% | 8.3% |
| Capex / depreciation | 0.42 | 1.68 | 1.44 | 1.10 | 0.84 | 1.29 | 1.51 | 0.90 | 1.35 | 2.31 |
| Stock-based compensation / revenue | — | — | — | — | — | 11.1% | 16.6% | — | — | 16.7% |
| SG&A / revenue | 22.2% | 21.4% | 21.5% | 29.6% | 49.1% | 49.0% | 38.4% | 41.0% | 47.7% | 48.8% |
| Efficiency | ||||||||||
| Days sales outstanding | — | 88.2 | — | 95.2 | 124.2 | 85.3 | 68.7 | 67.9 | 66.9 | 76.7 |
| Days of inventory on hand | — | — | — | — | — | -49,258.8 | -21,045.9 | -22,618.1 | -22,206.8 | — |
| Days payables outstanding | — | — | — | 25,313.9 | 52,590.8 | 1,591.2 | 697.4 | 678.3 | 905.1 | 1,250.2 |
| Cash conversion cycle (days) | — | — | — | -25,218.8 | -52,466.6 | -50,764.7 | -21,674.6 | -23,228.6 | -23,045.0 | -1,173.5 |
| Receivables turnover | — | 4.14 | — | 3.83 | 2.94 | 4.28 | 5.31 | 5.38 | 5.46 | 4.76 |
| Payables turnover | — | — | — | 0.01 | 0.01 | 0.23 | 0.52 | 0.54 | 0.40 | 0.29 |
| Asset turnover | 0.03 | 0.03 | 0.03 | 0.02 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 |
| Average receivables | — | ¥2.08T | — | ¥1.27T | ¥964.76B | ¥675.37B | ¥676.27B | ¥648.36B | ¥572.16B | ¥631.30B |
| Average payables | — | — | — | ¥159.99T | ¥79.34T | ¥2.76T | ¥2.78T | ¥2.44T | ¥1.63T | ¥2.14T |
| Average inventory | — | — | — | — | — | −¥85.39T | −¥83.76T | −¥81.38T | −¥40.07T | ¥0 |
| Intangibles / total assets | 0.3% | 0.3% | 0.3% | 0.2% | 0.3% | 0.3% | 0.3% | 0.3% | 0.5% | 0.5% |
Computed from MFG's annual financial statements (latest annual report filed June 26, 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.
MFG valuation and financial ratios
Mizuho Financial earned a return on equity of 12.1% in fiscal 2026. It ended the year with ¥66.86 trillion of debt and ¥93.07 trillion in cash and short-term investments, a net cash position of ¥26.21 trillion. It returned ¥819.6 billion to shareholders: ¥390.9 billion in dividends and ¥428.7 billion in share buybacks, 168% of free cash flow.
See the MFG income statement, the MFG chart for price history, or the MFG stock overview for the latest quote and news.
MFG key metrics FAQ
What is Mizuho Financial's return on equity?
Mizuho Financial's return on equity (ROE) was 12.1% in fiscal 2026: net income of ¥1.32 trillion on average shareholders' equity of ¥10.90 trillion.
How much debt does Mizuho Financial have?
Mizuho Financial had total debt of ¥66.86 trillion at the end of fiscal 2026, a debt-to-equity ratio of 5.88 and more cash than debt.
Does Mizuho Financial buy back its shares?
Yes. Mizuho Financial spent ¥428.7 billion on net share repurchases in fiscal 2026.
What is Mizuho Financial's current ratio?
Mizuho Financial's current ratio was 2.04 at the end of fiscal 2026: current assets were 2.04 times current liabilities.