Mitsubishi ElectricMitsubishi Electric Corporation6503東証プライム電気機器FY ending Mar 2026, consolidated, IFRS

Mitsubishi Electric revenue and profit

Out of every ¥100 of sales, about ¥7 is left as operating profit. Revenue changed +6.8% from the prior year, operating profit +10.5%.

Five-year trend

Revenue¥5.89T
FY ending Mar 2022: ¥4.48T¥4.48TFY ending Mar 2023: ¥5T¥5TFY ending Mar 2024: ¥5.26T¥5.26TFY ending Mar 2025: ¥5.52T¥5.52TFY ending Mar 2026: ¥5.89T¥5.89TFY22FY23FY24FY25FY26
Operating income¥433.1B
FY ending Mar 2022: ¥252.1B¥252.1BFY ending Mar 2023: ¥262.4B¥262.4BFY ending Mar 2024: ¥328.5B¥328.5BFY ending Mar 2025: ¥391.9B¥391.9BFY ending Mar 2026: ¥433.1B¥433.1BFY22FY23FY24FY25FY26
Operating margin7.3%
FY ending Mar 2022: 5.6%5.6%FY ending Mar 2023: 5.2%5.2%FY ending Mar 2024: 6.2%6.2%FY ending Mar 2025: 7.1%7.1%FY ending Mar 2026: 7.3%7.3%FY22FY23FY24FY25FY26

What drives ROE

Net margin × asset turnover = ROA; ROA × financial leverage = ROE

Net margin6.9%
Asset turnover0.86×
ROA5.9%
ROA5.9%
Financial leverage1.63×
ROE9.7%

Denominators: average assets and average equity. Derived from reported values; ROE is shown only for positive profit and equity.

Net margin6.9%
2022: 4.5%4.5%2023: 4.3%4.3%2024: 5.4%5.4%2025: 5.9%5.9%2026: 6.9%6.9%2223242526
Asset turnover0.86×
2022: 0.88×0.88×2023: 0.94×0.94×2024: 0.89×0.89×2025: 0.88×0.88×2026: 0.86×0.86×2223242526
ROA5.9%
2022: 4.0%4.0%2023: 4.0%4.0%2024: 4.9%4.9%2025: 5.2%5.2%2026: 5.9%5.9%2223242526
Financial leverage1.63×
2022: 1.72×1.72×2023: 1.72×1.72×2024: 1.68×1.68×2025: 1.63×1.63×2026: 1.63×1.63×2223242526
ROE9.7%
2022: 6.8%6.8%2023: 6.9%6.9%2024: 8.2%8.2%2025: 8.4%8.4%2026: 9.7%9.7%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20224.5%0.88×4.0%1.72×6.8%
20234.3%0.94×4.0%1.72×6.9%
20245.4%0.89×4.9%1.68×8.2%
20255.9%0.88×5.2%1.63×8.4%
20266.9%0.86×5.9%1.63×9.7%

Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.

Asset intensity and goodwill

Annual trends in tangible-asset ratios and goodwill balance.

PPE ÷ revenue18.3%
2021: 20.5%20.5%2022: 19.1%19.1%2023: 17.9%17.9%2024: 18.3%18.3%2025: 17.4%17.4%2026: 18.3%18.3%212223242526
PPE ÷ total assets14.7%
2021: 17.9%17.9%2022: 16.8%16.8%2023: 16.1%16.1%2024: 15.6%15.6%2025: 15.0%15.0%2026: 14.7%14.7%212223242526
Goodwill ÷ parent equity6.7%
2021: 2.2%2.2%2022: 2.3%2.3%2023: 2.8%2.8%2024: 2.7%2.7%2025: 2.6%2.6%2026: 6.7%6.7%212223242526
Goodwill balance¥300.8B
2021: ¥61.1B¥61.1B2022: ¥69.1B¥69.1B2023: ¥90.7B¥90.7B2024: ¥99.4B¥99.4B2025: ¥104.6B¥104.6B2026: ¥300.8B¥300.8B212223242526

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Investment and working-capital efficiency

Track R&D investment and how long operating capital remains tied up before sales turn into cash.

R&D spending¥235.9B
2021: ¥190.5B¥190.5B2022: ¥195.1B¥195.1B2023: ¥212.3B¥212.3B2024: ¥221.8B¥221.8B2025: ¥228.8B¥228.8B2026: ¥235.9B¥235.9B212223242526
R&D / revenue4.0%
2021: 4.5%4.5%2022: 4.4%4.4%2023: 4.2%4.2%2024: 4.2%4.2%2025: 4.1%4.1%2026: 4.0%4.0%212223242526

R&D is shown only for years with machine-readable disclosure. Days are estimates using year-end receivables, inventory and payables divided by annual revenue or cost of sales; financial companies are excluded.

Income statement (JPY millions)

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Revenue4,476,7585,003,6945,257,9145,521,7115,894,747
Cost of revenue3,212,2163,596,7813,712,0653,829,4964,005,249
Gross profit1,264,5421,406,9131,545,8491,692,2151,889,498
SG&A1,013,6741,147,9811,237,2011,315,7971,388,289
Operating income252,051262,352328,525391,850433,095
Pretax income279,693292,179365,853437,265526,077
Income tax61,80867,23568,90890,34992,307
Net income attributable to owners203,482213,908284,949324,084407,758
Operating margin5.6%5.2%6.2%7.1%7.3%

Balance sheet (reported items)

Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.

Assets

Cash 10%
Property, plant and equipment 15%
4%
Other assets 71%

Funding

Other liabilities 37%
Equity 63%

Each bar totals 100% of assets; other is the residual.

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Cash and equivalents¥727.2B¥645.9B¥765.4B¥757.3B¥731.6B
Total assets¥5.11T¥5.58T¥6.17T¥6.38T¥7.36T
Net assets¥3.1T¥3.36T¥3.87T¥4.08T¥4.63T
Share capital¥175.8B¥175.8B¥175.8B¥175.8B¥175.8B
Property, plant and equipment¥855.7B¥896.3B¥962.6B¥958.5B¥1.08T
Goodwill¥69.1B¥90.7B¥99.4B¥104.6B¥300.8B
Current assets¥3.09T¥3.39T¥3.63T¥3.75T¥4.03T
Total liabilities¥2.01T¥2.22T¥2.3T¥2.3T¥2.73T
Equity attributable to owners of parent¥2.98T¥3.24T¥3.74T¥3.95T¥4.48T
Retained earnings¥2.46T¥2.64T¥3.1T¥3.3T¥3.81T
Treasury stock-¥52.1B-¥52.7B-¥98B-¥71.8B-¥171.1B

Sources

Show source documents (6)
  • EDINET (FSA Japan)

    有価証券報告書-第155期(2025/04/01-2026/03/31)

    ID S100YD3V2026-06-19Open
  • EDINET (FSA Japan)

    有価証券報告書-第154期(2024/04/01-2025/03/31)

    ID S100W0EM2025-06-20Open
  • EDINET (FSA Japan)

    有価証券報告書-第153期(2023/04/01-2024/03/31)

    ID S100TOGW2024-06-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第152期(2022/04/01-2023/03/31)

    ID S100R4YQ2023-06-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第151期(令和3年4月1日-令和4年3月31日)

    ID S100OEWH2022-06-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第150期(令和2年4月1日-令和3年3月31日)

    ID S100LPLG2021-06-29Open

Extracted from XBRL: 44 / Derived from other figures: 2

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