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Global maker of cars, motorcycles and power equipment; the world's largest motorcycle manufacturer.
Global maker of cars, motorcycles and power equipment; the world's largest motorcycle manufacturer.
Sells cars and motorcycles through dealer networks and finances buyers through captive finance arms, with North America the biggest car market and India, Indonesia and Vietnam strong for motorcycles. Motorcycles earn better returns than cars for the group. In 2024-25 it explored a merger with Nissan before calling it off.
In one line: Itself; closest peer is a smaller General Motors with a huge motorcycle business added.
Moat: narrow (scale, brand, cost advantage). World's largest motorcycle maker with a strong engine-engineering brand reputation globally.
Headquarters: Tokyo, Japan · Founded: 1948 · Employees: 195,109
Size Honda Motor (7267.T) is a Japan Consumer Discretionary company (Motor Vehicles) with a market value of $45.2B, the 33rd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,831 on 6 Nov 2026.
Performance Over six months the shares gained 44.6%, against -0.2% for the median peer and +1.8% for the Japan market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 4.1% over the last twelve months (peer median +6.8%); the operating margin is -0.6% (peer median 6.5%).
Valuation It trades at 11.7× forward earnings against a peer median of 9.7× (9th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 18% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is +8 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.7 points below its cost of capital (5.3% WACC).
Backlog Backlog (remaining performance obligations) was ¥636B at 31 Mar 2025, up 4% on a year earlier — 0.0 years of trailing revenue. Backlog detail →
Credit Honda Motor has 3 bonds outstanding ($2.78B), rated BBB+ by the agencies and trading like BBB- at a weighted spread of 122 bp.
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥22.5T | ¥21.8T | ¥21.7T | ¥20.4T | ¥16.9T |
| Revenue growth | — | 0% | +6% | +21% | — |
| Gross profit | ¥3.88T | ¥3.04T | ¥4.49T | ¥4.26T | ¥3.18T |
| EBITDA | ¥1.52T | ¥1.24T | ¥2.83T | ¥2.96T | ¥2.38T |
| Net income | -¥170B | -¥424B | ¥836B | ¥1.11T | ¥651B |
| Free cash flow | ¥279B | ¥523B | -¥219B | ¥399B | ¥1.65T |
| Capital expenditure | ¥1.33T | ¥898B | ¥847B | ¥609B | ¥632B |
| Total debt | ¥14.1T | ¥13.8T | ¥11.8T | ¥10.5T | ¥7.98T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Honda Motor 7267.T | $45.2B | +45% | +4% | -1% | 11.7× | 18.2% |
| Toyota Motor 7203.T | $251B | +10% | +7% | 7% | 10.6× | n/a |
| Yamaha Motor 7272.T | $10.1B | +54% | +10% | 6% | 9.3× | 4.2% |
| General Motors GM | $72.7B | +10% | 0% | 2% | 6.1× | 23.9% |
| HyundaiMtr 005380.KS | $47.5B | -47% | +1% | 5% | 7.3× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 7267.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.5% | +7.8% | 11th highest of 21 |
| 6-month return | +44.6% | -0.2% | highest of 21 |
| Distance from 52-week high | -5.9% | -18.8% | 3rd highest of 21 |
| Revenue growth (TTM) | +4.1% | +6.8% | 10th lowest of 21 |
| Operating margin | -0.6% | 6.5% | 2nd lowest of 21 |
| Forward P/E | 11.7× | 9.7× | 9th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 18.2% | 20.1% | 8th least demanding of 15 |
| Growth delivered (Del g) | +10.6% | +14.3% | 6th lowest of 15 |
| Hurdle (Req g minus delivered) | +7.6 pp | +6.9 pp | 7th most demanding of 15 |
| ROIC minus cost of capital | -5.7 pp | -0.9 pp | 3rd lowest of 21 |
| EV / EBITDA | 10.7× | 12.7× | 9th cheapest of 17 |
| Net debt / EBITDA | 5.8× | 2.7× | 3rd most indebted of 17 |
| Bond spread | 122 bp | 100 bp | 3rd widest of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Honda Motor 7267.T | Japan | $45.2B | +45% | +4% | -1% | 11.7× | 18.2% | +10.6% |
| Mercedes-Benz MBG.DE | Germany | $44.9B | -19% | -7% | 5% | 7.9× | 4.5% | +1.7% |
| Mahindra & Mahindra M&M.NS | India | $43.1B | -2% | +26% | 15% | 24.0× | 13.6% | +21.5% |
| HyundaiMtr 005380.KS | South Korea | $47.5B | -47% | +1% | 5% | 7.3× | n/a | n/a |
| Porsche P911.DE | Germany | $47.8B | 0% | -10% | 6% | 22.9× | 17.3% | +4.8% |
| Maruti Suzuki India MARUTI.NS | India | $42.3B | -7% | +30% | 7% | 30.1× | 27.7% | +21.1% |
| Ford Motor F | United States | $48.8B | +2% | -1% | 2% | 7.0× | 25.6% | +8.1% |
| Bayerische Motoren Werke BMW.DE | Germany | $40.3B | -22% | -6% | 6% | 9.7× | n/a | n/a |
| Volkswagen VOW.DE | Germany | $39.1B | -24% | -3% | 7% | 5.5× | n/a | n/a |
| Daimler Truck DTG.DE | Germany | $34.7B | -1% | -14% | 5% | 10.6× | 9.8% | +4.8% |
| Bajaj Auto BAJAJ-AUTO.NS | India | $31.7B | +3% | +48% | 19% | 24.0× | 27.3% | +17.4% |
| Kia 000270.KS | South Korea | $28.3B | -34% | +8% | 7% | 5.4× | -12.9% | +14.0% |
| General Motors GM | United States | $72.7B | +10% | 0% | 2% | 6.1× | 23.9% | +8.6% |
| Suzuki Motor 7269.T | Japan | $27.3B | +26% | +14% | 9% | 9.1× | -0.8% | +14.6% |
| TVS Motor TVSMOTOR.NS | India | $22.6B | +21% | +34% | 12% | 42.5× | n/a | n/a |
| Eicher Motors EICHERMOT.NS | India | $22.3B | +5% | +28% | 21% | 33.0× | 36.0% | +21.8% |
| Ferrari RACE.MI | Italy | $92.2B | +30% | +6% | 30% | 37.7× | 22.8% | +15.6% |
| Geely Auto 0175.HK | Hong Kong | $20.1B | -34% | +27% | 4% | 6.5× | -9.3% | +29.3% |
| Rivian Automotive RIVN | United States | $19.9B | -4% | +11% | -53% | n/a | n/a | n/a |
| Traton 8TRA.DE | Germany | $18.9B | +2% | +1% | 6% | 6.1× | n/a | n/a |
| Hyundai Motor India HYUNDAI.NS | India | $18.3B | +16% | +8% | 7% | 33.0× | 26.6% | +11.8% |
Honda Motor has 3 bonds outstanding with $2.78B face value. The agencies rate it BBB+; its bonds trade like BBB-. Weighted yield 4.26%, a spread of 122 bp over government bonds.
Honda Motor reported ¥636B of remaining performance obligations at 31 Mar 2025, up 4% from a year earlier. That is 0.0 years of trailing revenue already under contract.