Honda Motor Co LTD reports results on Tuesday 10 November, before the market opens. Growth is speeding up. Revenue over the twelve months to Q4 2026 was $144.8 billion, which rose 1.7% on the year before.
What analysts expect
Analysts have been raising their forecasts going into the report. The average revenue estimate for the quarter is $5816.0 billion. The analysts' average estimate for full-year EPS is $2.64, which would be up 231.0% on last year (based on 3 analysts). That estimate has risen 11.0% over the past 90 days. Of the analysts' recommendations, 1 are positive, 2 neutral and 0 negative.
The trends going in
That growth rate was up 1.0 percentage points on the rate a quarter earlier. The trailing gross margin was 16.5%. The trailing operating margin was negative, at −1.9%, down 7.5 percentage points from a year earlier. The trailing net margin was negative, at −1.9%. The company made a net loss of $2.8 billion over the twelve months.
The cash picture
Buybacks are shrinking the share count, so each share claims more of the profit. Operating cash flow over the twelve months was $7.5 billion, up 293.1% on the year before. Capital spending was $4.1 billion, or 2.8% of revenue. Alongside that, free cash flow, operating cash flow less capital spending, was $3.5 billion. Free cash flow was 2.4% of revenue (the free-cash-flow margin), up 3.4 percentage points from a year earlier. The average diluted share count fell 14.4% over the year.
In context
Measured against its own history: today's free-cash-flow margin of 2.4% is higher than 30% of the company's own past quarterly readings, which have ranged from −1.0% to 9.8%. Today's operating margin of −1.9% is below every past reading (3.4% to 6.8%). Today's twelve-month revenue growth rate of 1.7% is higher than 44% of past readings (−9.6% to 13.2%).
Questions this report will answer
Whether the pick-up in revenue growth continues. Whether results land above or below the analysts' expectations set out above. Meanwhile, Whether margins hold at the trailing levels above. The next filing will show whether the trends above continue, slow or reverse.
