# Honda vs IHI vs Kawasaki Heavy Industries vs Mitsubishi Heavy Industries

> Unit: JPY millions (ratios in %)
> Periods: Honda = FY ending Mar 2026, consolidated, IFRS / IHI = FY ending Mar 2026, consolidated, IFRS / Kawasaki Heavy Industries = FY ending Mar 2026, consolidated, IFRS / Mitsubishi Heavy Industries = FY ending Mar 2026, consolidated, IFRS
> Retrieved: 2026-10-01T00:03:12.540Z

| Metric | Honda | IHI | Kawasaki Heavy Industries | Mitsubishi Heavy Industries |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 21,796,610 | 1,643,402 | 2,311,267 | 4,974,168 |
| Operating income | -414,346 | 165,534 | — | — |
| Net income | -423,941 | 160,992 | 108,157 | 332,129 |
| COGS ratio | 83.5% | 76.9% | 80.3% | 78.2% |
| Operating margin | -1.9% | 10.1% | — | — |
| Net margin | -1.9% | 9.8% | 4.7% | 6.7% |
| FCF margin | 2.4% | — | 1.0% | 15.3% |
| Period | FY ending Mar 2026 | FY ending Mar 2026 | FY ending Mar 2026 | FY ending Mar 2026 |
| Source | S100YDD9 | S100YENT | S100YU10 | S100YHZG |

## Five-axis industry profile

Each axis shows a rank within that company's primary industry, so peer groups may differ. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

| Axis | Honda | IHI | Kawasaki Heavy Industries | Mitsubishi Heavy Industries |
| --- | ---: | ---: | ---: | ---: |
| Revenue growth | 35.7 (7 peers) | 40.9 (11 peers) | — | 22.7 (11 peers) |
| Profitability | 6.3 (8 peers) | 68.2 (11 peers) | — | — |
| Cash conversion | — | 30 (5 peers) | — | — |
| Efficiency | 31.3 (8 peers) | 80.8 (13 peers) | — | 73.1 (13 peers) |
| Financial strength | — | — | — | — |

## Company details

- https://vizora.meequs.com/en/company/honda-motor/md
- https://vizora.meequs.com/en/company/ihi/md
- https://vizora.meequs.com/en/company/kawasaki-heavy-industries/md
- https://vizora.meequs.com/en/company/mitsubishi-heavy-industries/md

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).