Honda Motor Co Ltd ADR
NYSE: HMC · CONSUMER CYCLICAL · AUTO MANUFACTURERS
Updated 2026-06-05
Honda Motor Co Ltd ADR (HMC) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.09T | $11.97T | $10.01T | $8.58T | $8.94T | $7.95T | $9.88T | $11.84T | $12.65T | $14.60T | $14.00T | $15.36T | $15.89T | $14.93T | $13.17T | $14.55T | $16.91T | $20.43T | $21.69T | $23.11T |
| Revenue growth (YoY) | — | +7.9% | -16.4% | -14.3% | +4.2% | -11.1% | +24.3% | +19.9% | +6.8% | +15.5% | -4.1% | +9.7% | +3.4% | -6.0% | -11.8% | +10.5% | +16.2% | +20.8% | +6.2% | +6.6% |
| Cost of revenue | $7.87T | $8.52T | $7.42T | $6.41T | $6.50T | $5.92T | $7.35T | $8.76T | $9.45T | $11.33T | $10.87T | $12.00T | $12.58T | $11.85T | $10.44T | $11.57T | $13.58T | $16.02T | $17.02T | $19.29T |
| Gross profit | $3.22T | $3.45T | $2.59T | $2.16T | $2.44T | $2.03T | $2.53T | $3.08T | $3.19T | $3.27T | $3.13T | $3.36T | $3.31T | $3.08T | $2.73T | $2.98T | $3.33T | $4.41T | $4.66T | $3.82T |
| Gross margin | 29.1% | 28.8% | 25.9% | 25.2% | 27.3% | 25.5% | 25.6% | 26.0% | 25.3% | 22.4% | 22.4% | 21.9% | 20.8% | 20.6% | 20.7% | 20.5% | 19.7% | 21.6% | 21.5% | 16.5% |
| R&D | $551.87B | $586.30B | $563.20B | $463.35B | $487.59B | $519.82B | $560.27B | $598.37B | $606.16B | $656.50B | $691.43B | $751.86B | $806.90B | $804.12B | $738.89B | $787.06B | $880.91B | $923.63B | $1.10T | $1.63T |
| SG&A | $1.82T | $1.91T | $1.84T | $1.34T | $1.38T | $1.28T | $1.43T | $1.70T | $1.72T | $2.11T | $1.60T | $1.78T | $1.77T | $1.64T | $1.33T | $1.33T | $1.61T | $2.11T | $2.35T | — |
| Operating income | $851.96B | $950.34B | $189.64B | $363.77B | $569.77B | $231.36B | $544.81B | $823.86B | $670.60B | $503.38B | $840.71B | $833.56B | $726.37B | $633.64B | $660.21B | $871.23B | $780.77B | $1.38T | $1.21T | $-439.33B |
| Operating margin | 7.7% | 7.9% | 1.9% | 4.2% | 6.4% | 2.9% | 5.5% | 7.0% | 5.3% | 3.4% | 6.0% | 5.4% | 4.6% | 4.2% | 5.0% | 6.0% | 4.6% | 6.8% | 5.6% | -1.9% |
| EBITDA | $1.22T | $1.47T | $821.92B | $978.42B | $1.20T | $798.54B | $1.09T | $1.53T | $1.45T | $1.31T | $2.36T | $2.58T | $2.46T | $2.28T | $2.08T | $2.36T | $1.64T | $2.50T | $2.12T | $942.53B |
| EBITDA margin | 11.0% | 12.3% | 8.2% | 11.4% | 13.5% | 10.0% | 11.1% | 13.0% | 11.5% | 9.0% | 16.8% | 16.8% | 15.5% | 15.2% | 15.8% | 16.2% | 9.7% | 12.2% | 9.8% | 4.1% |
| EBIT | $851.96B | $950.34B | $184.28B | $348.75B | $639.02B | $267.78B | $501.05B | $946.71B | $824.43B | $653.60B | $1.02T | $1.13T | $992.59B | $814.61B | $655.20B | $884.54B | $915.68B | $1.70T | $1.37T | $-439.33B |
| Interest expense | $0.00 | $0.00 | $22.54B | $12.55B | $8.47B | $10.38B | $12.16B | $12.70B | $16.60B | $18.15B | $12.47B | $12.97B | $13.22B | $227.08M | $130.84M | $16.87B | $36.11B | $59.63B | $54.91B | $88.60B |
| Income tax | $283.83B | $386.28B | $109.83B | $146.87B | $206.83B | $135.74B | $178.98B | $267.99B | $245.14B | $229.09B | $327.59B | $-13.67B | $303.09B | $279.99B | $218.61B | $309.49B | $162.26B | $459.79B | $414.61B | — |
| Effective tax rate | 32.4% | 39.2% | 44.5% | 35.4% | 27.9% | 39.1% | 32.8% | 30.0% | 32.5% | 39.9% | 34.7% | -1.3% | 33.2% | 38.1% | 25.0% | 30.4% | 19.9% | 29.3% | 33.2% | 0.0% |
| Net income | $592.40B | $598.27B | $137.00B | $268.40B | $534.09B | $211.48B | $367.15B | $624.70B | $509.44B | $344.53B | $616.57B | $1.06T | $610.32B | $455.75B | $657.42B | $707.07B | $651.42B | $1.11T | $835.84B | $-449.51B |
| Net income growth (YoY) | — | +1.0% | -77.1% | +95.9% | +99.0% | -60.4% | +73.6% | +70.1% | -18.5% | -32.4% | +79.0% | +71.8% | -42.4% | -25.3% | +44.3% | +7.6% | -7.9% | +70.0% | -24.5% | -153.8% |
| Profit margin | 5.3% | 5.0% | 1.4% | 3.1% | 6.0% | 2.7% | 3.7% | 5.3% | 4.0% | 2.4% | 4.4% | 6.9% | 3.8% | 3.1% | 5.0% | 4.9% | 3.9% | 5.4% | 3.9% | -1.9% |
Frequently asked questions
What is Honda Motor Co Ltd ADR's revenue?
Honda Motor Co Ltd ADR's trailing twelve-month revenue is $21.80T, and consensus projects about $24.70T by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is HMC?
In its most recent fiscal year, HMC ran a gross margin of 16.53%, an operating margin of -1.90%, and a net margin of -1.94%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does HMC generate?
HMC produced $554.75B in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is HMC's balance sheet healthy?
HMC holds $5.09T in cash and equivalents against — in long-term debt, on $11.87T of shareholder equity. That debt is best read against the cash flow the business throws off each year.