Honda Motor Co., Ltd. - December 2023 (LTM): Peer Snapshot

Honda Motor Co., Ltd.: Update to credit analysis - Credit Opinion – 2024/04/25 – US$ 250.00 – ...Honda Motor Co., Ltd.'s A3 issuer rating reflects the company's well-established brand and position in its core automotive markets, as well as its strong balance sheet and liquidity. The rating also reflects the company's leading position globally in its motorcycle business, which has strong growth prospects in emerging markets such as Southeast Asia and higher profitability than its automotive business. The motorcycle business also provides cash flow diversification from the automotive business. On the other hand, the rating also takes into account Honda's relatively weak profitability, especially in its automotive business, compared with its purely automotive peers. The company also faces future pressure on its margins due to investments required for the transition to electrification. Furthermore, though unit sales have been recovering in key markets such as the United States and Japan, Honda still faces a slow recovery in China....

Honda Motor Co., Ltd. - September 2023 (LTM): Peer Snapshot - Peer Snapshot – 2023/12/20 – US$ 750.00 – ...Honda Motor Co., Ltd. Toyota Motor Corporation Nissan Motor Co., Ltd. Bayerische Motoren Werke Aktiengesellschaft Mercedes-Benz Group AG...

Honda Motor Co., Ltd. - June 2023 (LTM): Peer Snapshot - Peer Snapshot – 2023/09/19 – US$ 750.00 – ...Honda Motor Co., Ltd. Toyota Motor Corporation Nissan Motor Co., Ltd. Bayerische Motoren Werke Aktiengesellschaft Mercedes-Benz Group AG...

Honda Motor Co., Ltd.: Update to credit analysis - Credit Opinion – 2023/08/29 – US$ 250.00 – ...Honda Motor Co., Ltd.'s (Honda) A3 issuer rating reflects the company's well-established brand and position in its core auto markets and strong balance sheet and liquidity. The rating also reflects the company's leading position in the motorcycle business, which has a high margin and higher growth prospects in emerging markets such as Southeast Asia. The motorcycle business also provides cash flow diversification outside of its automotive business. On the other hand, the rating also takes into consideration Honda's relatively weak profitability, notably in its automotive segment, which reflects factors such as the cost increase from inflation and increase in R&D spending related to the transition to electrification. Over the next 12-18 months, we expect Honda's profitability in terms of EBITA margin to improve again to around 8%. While operational efficiency and recovery in unit sales underpin a solid margin enhancement along with the diminishing impact of the semiconductor shortage, continuing...

Honda Motor Co., Ltd. - March 2023 (LTM): Peer Snapshot - Peer Snapshot – 2023/07/31 – US$ 750.00 – ...Honda Motor Co., Ltd. Toyota Motor Corporation Bayerische Motoren Werke Aktiengesellschaft Mercedes-Benz Group AG Volkswagen Aktiengesellschaft...

Honda Motor Co., Ltd. - December 2022 (LTM): Peer Snapshot - Peer Snapshot – 2023/04/03 – US$ 750.00 – Peer Snapshot: Honda Motor Co., Ltd. - December 2022 (LTM) 3 April 2023 (in US millions) FYE Mar-21 FYE Mar-22 LTM Dec-22 FYE Mar-20 FYE Mar-21 FYE Mar-22 FYE Mar-21 FYE Mar-22 LTM Dec-22 FYE Dec-20 FYE Dec-21 LTM Sep-22 Revenue $100,704...