Honda Motor Co., Ltd. · TSE:7267
Honda Motor — Q3 2026 Earnings Presentation
33 slides from Honda Motor's earnings presentation, Feb 10, 2026
Slide 1: Fiscal Third Quarter Ended December 31, 2025 Financial Results
Fiscal Third Quarter Ended December 31, 2025 Financial Results February 10, 2026
Slide 2: Summary
Summary Financial Results for Nine Months Ended Financial Forecast for FYE March 31, 2026 December 31, 2025 Operating Profit 591.5 billion yen Operating Profit: 550 billion yen Profit for the year: 300 billion yen Motorcycle business • Due to a wide range of efforts, incl. collaboration with Group U
Slide 3: Nine Months Ended December 31, 2025: Consolidated Financial Results
Nine Months Ended December 31, 2025: Consolidated Financial Results Nine Months Ended December 31 Yen (billion) 2024 2025 Amount Change Sales revenue 16,328.7 15,975.6 - 353.0 - 2.2% Operating profit 1,139.9 591.5 - 548.4 - 48.1% Operating margin 7.0% 3.7% - 3.3 pt Share of profit (loss) of investme
Slide 4: Consolidated Financial Forecast for FYE March 31, 2026
Consolidated Financial Forecast for FYE March 31, 2026 FYE March 31, 2025 FYE March 31, 2026 Change from Results Revised forecast Amount Change previous forecast Yen (billion) Sales revenue 21,688.7 21,100.0 - 588.7 - 2.7% + 400.0 Operating profit 1,213.4 550.0 - 663.4 - 54.7% ― Operating margin 5.6
Slide 5: Shareholder Returns
Shareholder Returns ＜Dividends＞ To maintain appropriate equity capital, DOE*1 has been introduced as a return indicator from FYE March 31, 2026 onward. Through cash-flow-conscious management, we will strive to achieve dividends with a target of 3.0% to provide a more stable and continuous return. FY
Slide 6: Fiscal Third Quarter Ended December 31, 2025 Financial Results
Fiscal Third Quarter Ended December 31, 2025 Financial Results
Slide 7: Nine Months Ended December 31, 2025: Honda Unit Sales
Nine Months Ended December 31, 2025 : Honda Unit Sales Unit (thousand) Motorcycles Automobiles Power Products Honda Nine Months Ended December 31 Nine Months Ended December 31 Nine Months Ended December 31 Group Unit Sales 2024 2025 Change 2024 2025 Change 2024 2025 Change Japan 158 162 +4 461 432 -
Slide 8: Nine Months Ended December 31, 2025: Consolidated Financial Results
Nine Months Ended December 31, 2025: Consolidated Financial Results Nine Months Ended December 31 Yen (billion) 2024 2025 Amount Change Sales revenue 16,328.7 15,975.6 - 353.0 - 2.2% Operating profit 1,139.9 591.5 - 548.4 - 48.1% Operating margin 7.0% 3.7% - 3.3 pt Share of profit (loss) of investme
Slide 9: Nine Months Ended December 31, 2025: Change in Operating Profit
Nine Months Ended December 31, 2025: Change in Operating Profit Yen (billion) Operating Profit - 548.4 ( - 48.1 ％) ・Provisions for losses and impairment Excl. one-time EV-related expenses and tariff impacts + 8.6 ( + 0.8 ％ ) on EVs being sold in the U.S. ・Write-offs of development assets for EV mode
Slide 10: Sales Revenue/Operating Profit (Margin) by Business Segment
Nine Months Ended December 31, 2025: Sales Revenue/Operating Profit (Margin) by Business Segment upper: Nine Months Ended December 31, 2025 Motorcycle Automobile Financial Services Power Products and lower: Nine Months Ended Business Business Business Other Businesses December 31, 2024 Unit (thousan
Slide 11: Change in Operating Profit for Motorcycle Business
Nine Months Ended December 31, 2025: Change in Operating Profit for Motorcycle Business Despite the negative foreign currency effects and other factors, operating profit increased mainly due to higher sales volume in Asia and South America. Yen (billion) Operating Profit + 44.8 ( + 8.9 ％ ) + 48.6 -
Slide 12: Change in Operating Profit for Automobile Business
Nine Months Ended December 31, 2025: Change in Operating Profit for Automobile Business Despite the positive effect of price revisions and other factors, operating profit decreased mainly due to one-time EV-related expenses and tariff impacts. Yen (billion) Operating Profit - 569.0 ・Provisions for l
Slide 13: Cash Flows of Non-Financial Services Businesses
Cash Flows of Non-Financial Services Businesses Yen (billion) Nine Months Ended Nine Months Ended December 31, 2024 December 31, 2025 Cash flows from operating activities + 1,329.1 + 1,205.8 Cash flows from investing activities - 635.4 - 288.4 Free cash flow + 693.7 + 917.4 Cash flows from financing
Slide 14: Fiscal Year Ending March 31, 2026 Financial Forecast
Fiscal Year Ending March 31, 2026 Financial Forecast
Slide 15: Forecast for FYE March 31, 2026: Honda Unit Sales
Forecast for FYE March 31, 2026: Honda Unit Sales No changes have been made from the previous forecast Unit (thousand) Motorcycles Automobiles Power Products FYE March 31, FYE March 31, FYE March 31, FYE March 31, FYE March 31, FYE March 31, Honda 2026 2026 2026 2026 2026 2026 Group Change Change Ch
Slide 16: Consolidated Financial Forecast for FYE March 31, 2026
Consolidated Financial Forecast for FYE March 31, 2026 FYE March 31, 2025 FYE March 31, 2026 Change from Results Revised forecast Amount Change previous forecast Yen (billion) Sales revenue 21,688.7 21,100.0 - 588.7 - 2.7% + 400.0 Operating profit 1,213.4 550.0 - 663.4 - 54.7% ― Operating margin 5.6
Slide 17: Forecast for FYE March 31, 2026: Change in Operating Profit
Forecast for FYE March 31, 2026: Change in Operating Profit Yen (billion) Operating Profit - 663.4 ( - 54.7 ％ ) 1,213.4 - 162.0 + 230.0 - 106.5 - 166.0 - 149.0 Expenses*3 Sales impacts*1 Price/Cost - 310.0 impacts*2 R&D Foreign currency effects*4 550.0 Operating Tariff impacts Operating Margin Margi
Slide 18: Forecast for FYE March 31, 2026: Change in Operating Profit
Forecast for FYE March 31, 2026: Change in Operating Profit Yen (billion) Operating Profit ±0 ( ± 0.0 ％ ) 550.0 - 10.0 ― - 15.0 + 65.0 550.0 - 40.0 Sales impacts*1 Price/Cost Expenses*3 impacts*2 R&D Foreign currency effects*4 Operating Operating Margin Margin 2.7% 2.6% FYE March 31, 2026 FYE March
Slide 19: Capital Expenditures/Depreciation and Amortization/R&D Expenditures
Forecast for FYE March 31, 2026: Capital Expenditures/Depreciation and Amortization/R&D Expenditures FYE March 31, 2025 FYE March 31, 2026 Change from Change Results Revised forecast previous forecast Yen (billion) Capital expenditures*1 537.4 1,050.0 + 512.5 + 390.0 Depreciation and amortization*1
Slide 20: Business Strategy
Management Direction in Light of Changes in the Business Environment Automobile Business Capability・Current State Changes in External Business Conditions Automobile business profitability underpinned by ICE and Hybrid ・Decelerating EV market growth and regulatory easing trends across regions technol
Slide 21: Caution with Respect to Forward-Looking Statements
Caution with Respect to Forward-Looking Statements: This presentation contains forward-looking statements about the performance and shareholders return of Honda, which are based on management’s assumptions and beliefs taking into account information currently available to it. Therefore, please be ad
Slide 22: HONDA How we move you
HONDA | Howwe move you. The Power of Dreams CREATE » TRANSCEND, AUGMENT
Slide 23: Appendix
HONDA Appendix
Slide 24: Change in Operating Profit (Nine Months, Reference)
[Reference] Nine Months Ended December 31, 2025: Change in Operating Profit Yen (billion) Operating Profit - 548.4 ( - 48.1 ％ ) + 225.9 - 117.5 1,139.9 - 92.1 - 163.7 Expenses*3 - 111.0 Sales impacts*1 Price/Cost - 289.8 impacts*2 R&D Foreign currency effects*4 591.5 Tariff impacts Operating Operati
Slide 25: Three Months Ended December 31, 2025: Change in Operating Profit
Three Months Ended December 31, 2025: Change in Operating Profit Yen (billion) Operating Profit - 243.9 ( - 61.4 ％ ) Excl. one-time EV-related expenses and tariff impacts - 74.9 ( - 18.9 ％ ) 397.3 - 45.8 + 63.5 - 82.5 - 15.2 + 5.1 322.3 - 43.4 Sales impacts*1 Price/Cost Expenses*3 - 125.5 impacts*2
Slide 26: Sales Revenue/Operating Profit (Margin) by Business Segment
Three Months Ended December 31, 2025 : Sales Revenue/Operating Profit (Margin) by Business Segment upper: Three Months Ended December 31, 2025 Motorcycle Automobile Financial Services Power Products and lower: Three Months Ended Business Business Business Other Businesses December 31, 2024 Unit (tho
Slide 27: Change in Sales Revenue
Three Months / Nine Months Ended December 31, 2025: Change in Sales Revenue (sales revenue from external customers） Compared with three months ended December 31, 2024: - 188.1 billion yen / - 3.4 % Three Months (Excluding foreign currency translation effects: - 262.3 billion yen / - 4.7 %) Change Sa
Slide 28: Sales Revenue/Operating Profit by Geographical Segment
Three Months / Nine Months Ended December 31, 2025: Sales Revenue/Operating Profit by Geographical Segment Yen (billion) Japan North America Europe Asia Other Regions Three Months 2024 2025 2024 2025 2024 2025 2024 2025 2024 2025 Sales Revenue 1,463.1 1,372.5 3,366.3 3,019.8 180.2 211.8 1,273.7 1,31
Slide 29: Capital Expenditures/Depreciation and Amortization/R&D Expenditures
Fiscal Third Quarter Ended December 31, 2025: Capital Expenditures/Depreciation and Amortization/R&D Expenditures Three Months Ended December 31 Nine Months Ended December 31 2024 2025 2024 2025 Change Change Results Results Results Results Yen (billion) Capital expenditures 142.9 188.6 + 45.7 320.8
Slide 30: Consolidated Statements of Financial Position
Nine Months Ended December 31, 2025: Consolidated Statements of Financial Position Divided into Non-financial Services Businesses and Finance Subsidiaries Yen (billion) FYE March 31, Nine months Ended FYE March 31, Nine months Ended Assets December 31, Liabilities and Equity December 31, 2025 2025 2
Slide 31: Sales Revenue/Operating Profit by Business Segment
Sales Revenue/Operating Profit by Business Segment Yen(billion) QTD YTD (FYE March 31) FYE March 31, 2025 FYE March 31, 2026 Change Change 2025 2026 Change Segment Information 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q (%) Change Results Results (%) Sales Revenue Motorcycle Business 937.6 873.0 896.2 919.6 951.5 969.1
Slide 32: Honda Group Unit Sales/Consolidated Unit Sales
Honda Group Unit Sales/Consolidated Unit Sales Unit (thousand) QTD YTD (FYE March 31) FYE March 31 FYE March 31, 2025 FYE March 31, 2026 Change 2025 2026 2025 2026 Honda Group 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Change Change Unit Sales Results Results Results Forecast Motorcycles 5,062 5,320 5,126 5,064 5,143
Slide 33: Electrified Automobile Retail Sales per Power Trains
Electrified Automobile Retail Sales per Power Trains Unit (thousand) QTD YTD (FYE March 31) FYE March 31, 2025 FYE March 31, 2026 Electrified Change 2025 2026 Automobile 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Change Results Results Retail Sales* Global HEV 204 217 231 246 225 229 230 -1 652 685 + 33 PHEV 4 5 5 3 3