Balance Sheet Mitsubishi Heavy Industries, Ltd.

Stocks

7011

JP3900000005

Consumer Goods Conglomerates

Market Closed - Japan Exchange Other stock markets 02:30:00 2026-07-17 am EDT			5-day change	1st Jan Change
3,681.00 ^JPY	-3.71%		-3.59%	-4.14%

Jul. 16	Gcap, Canada to become observer in next-generation fighter project - source	RE
Jul. 16	Italy - Factors to watch on July 16	RE

c3ae037be937a75116787a21f4.-Wl-LoOlW_lKwoScDIfr3HUFdk3j-SPomb-97z5F9EE.piU5acvNbJowm-6sfdGyvU1mHBfSs23fxo3HnmgJujvOBAx85ss4twGL9w

Published financial data: MITSUBISHI HEAVY INDUSTRIES, LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2022	2023	2024	2025	2026
Revenues	3,860B	4,203B	4,657B	5,027B	4,974B
Total Revenues	3,860B	4,203B	4,657B	5,027B	4,974B
Cost of Goods Sold, Total	3,204B	3,438B	3,727B	3,996B	3,891B
Gross Profit	656B	765B	930B	1,031B	1,083B
Selling General & Admin Expenses, Total	460B	520B	547B	581B	534B
Provision for Bad Debts	2.56B	3.97B	3.45B	6.86B	597M
R&D Expenses	72.07B	75.29B	121B	99.28B	80.17B
Depreciation & Amortization - (IS)	22.3B	24.61B	23.78B	29.93B	17.69B
Other Operating Expenses	-12.53B	-38.93B	-27.98B	-16.67B	-10.25B
Other Operating Expenses, Total	544B	585B	667B	700B	623B
Operating Income	112B	180B	263B	331B	460B
Interest Expense, Total	-12.41B	-14.3B	-12.62B	-15.74B	-8.33B
Interest And Investment Income	5.7B	10.36B	10.37B	10.7B	13.1B
Net Interest Expenses	-6.71B	-3.94B	-2.25B	-5.03B	4.77B
Income (Loss) On Equity Invest.	16.86B	13.5B	2.15B	-2.75B	16.69B
Currency Exchange Gains (Loss)	23.14B	18.24B	39.02B	1.86B	46.14B
Other Non Operating Income (Expenses)	-2.99B	-16.49B	-4.13B	-5.49B	-8.45B
EBT, Excl. Unusual Items	142B	192B	298B	320B	519B
Restructuring Charges	-	-16.03B	-	-	-
Gain (Loss) On Sale Of Investments	2.11B	4.62B	-	-3.09B	-
Gain (Loss) On Sale Of Assets	33.17B	21.86B	22.06B	60.11B	1.6B
Asset Writedown	-3.61B	-10.94B	-4.42B	-2.04B	-46.18B
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	174B	191B	315B	375B	475B
Income Tax Expense	48.03B	44.82B	71.62B	113B	116B
Earnings From Continuing Operations	126B	146B	244B	262B	358B
Earnings Of Discontinued Operations	-	-	-	-	-12.44B
Net Income to Company	126B	146B	244B	262B	346B
Minority Interest	-12.11B	-15.86B	-21.54B	-16.55B	-13.81B
Net Income - (IS)	114B	130B	222B	245B	332B
Net Income to Common Incl Extra Items	114B	130B	222B	245B	332B
Net Income to Common Excl. Extra Items	114B	130B	222B	245B	345B
Per Share Items
Net EPS - Basic	33.82	38.84	66.07	73.04	98.86
Basic EPS - Continuing Operations	33.82	38.84	66.07	73.04	102.56
Basic Weighted Average Shares Outstanding	3.36B	3.36B	3.36B	3.36B	3.36B
Net EPS - Diluted	33.8	38.83	66.04	73.02	95.14
Diluted EPS - Continuing Operations	33.8	38.83	66.04	73.02	98.84
Diluted Weighted Average Shares Outstanding	3.36B	3.36B	3.36B	3.36B	3.36B
Normalized Basic EPS	22.83	30.94	48.93	54.51	92.49
Normalized Diluted EPS	22.82	30.92	48.91	54.5	92.47
Dividend Per Share	10	13	20	23	25
Payout Ratio	35.43	29.54	22.65	31.44	24.23
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	247B	329B	419B	492B	671B
EBITA	112B	180B	263B	331B	460B
EBIT	112B	180B	263B	331B	460B
Effective Tax Rate - (Ratio)	27.65	23.45	22.72	30.05	24.5
Normalized Net Income	76.65B	104B	164B	183B	311B
Non-Cash Pension Expense	14.83B	15.48B	18.62B	16.93B	13.3B
Supplemental Operating Expense Items
Advertising Expense	50.61B	53.04B	52.79B	52.43B	55.47B
Selling and Marketing Expenses	50.61B	53.04B	52.79B	52.43B	55.47B
Research And Development Expense From Footnotes	72.07B	75.29B	77.64B	74.27B	80.17B

Fiscal Period: March	2022	2023	2024	2025	2026
Assets
Cash And Equivalents	314B	348B	431B	658B	1,335B
Total Cash And Short Term Investments	314B	348B	431B	658B	1,335B
Accounts Receivable, Total	744B	805B	916B	985B	1,109B
Total Receivables	744B	805B	916B	985B	1,109B
Inventory	799B	877B	975B	1,063B	1,042B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	946B	1,013B	1,098B	1,207B	1,955B
Total Current Assets	2,803B	3,042B	3,420B	3,912B	5,440B
Net Property Plant And Equipment	888B	926B	1,002B	1,022B	857B
Long-term Investments	873B	946B	1,271B	1,205B	1,703B
Goodwill	129B	131B	172B	173B	106B
Other Intangibles, Total	70.4B	70.16B	93.79B	87.27B	77.47B
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	352B	359B	297B	260B	84.81B
Other Long-Term Assets, Total	2M	5M	4M	3M	3M
Total Assets	5,116B	5,475B	6,256B	6,659B	8,270B
Liabilities
Accounts Payable, Total	863B	895B	959B	930B	1,001B
Short-term Borrowings	67.32B	61.93B	72.07B	62.31B	14.7B
Current Portion of Long-Term Debt	237B	287B	307B	218B	240B
Current Income Taxes Payable	28.78B	19.66B	55.23B	25.28B	86.56B
Other Current Liabilities	1,284B	1,360B	1,547B	1,910B	2,637B
Total Current Liabilities	2,481B	2,624B	2,941B	3,146B	3,979B
Long-Term Debt	774B	843B	764B	851B	621B
Pension & Other Post Retirement Benefits	76.82B	76.15B	73.16B	72.04B	56.7B
Deferred Tax Liability Non Current	6.22B	10.46B	9.99B	9.59B	11.1B
Other Non Current Liabilities	116B	86.7B	108B	110B	373B
Total Liabilities	3,454B	3,641B	3,896B	4,189B	5,041B
Common Stock, Total	266B	266B	266B	266B	266B
Additional Paid In Capital	45.06B	41.26B	41.19B	44.74B	48.27B
Retained Earnings	1,099B	1,218B	1,433B	1,589B	1,880B
Treasury Stock	-5.95B	-5.38B	-4.83B	-16.45B	-12.92B
Comprehensive Income and Other	173B	221B	509B	464B	907B
Total Common Equity	1,577B	1,741B	2,245B	2,347B	3,089B
Minority Interest	85.92B	93.01B	116B	123B	140B
Total Equity	1,663B	1,834B	2,361B	2,470B	3,228B
Total Liabilities And Equity	5,116B	5,475B	6,256B	6,659B	8,270B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	3.36B	3.36B	3.36B	3.36B	3.36B
ECS Total Common Shares Outstanding	-	3.36B	3.36B	3.36B	3.36B
Book Value / Share	469.64	518.31	667.86	698.91	919.06
Tangible Book Value	1,378B	1,540B	1,978B	2,086B	2,905B
Tangible Book Value Per Share	410.34	458.37	588.63	621.41	864.35
Total Debt	1,078B	1,192B	1,143B	1,131B	876B
Net Debt	764B	845B	712B	473B	-459B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-15.97B	-44.67B	-295B	-280B	-738B
Minority Interest, Total (Incl. Fin. Div)	85.92B	93.01B	116B	123B	140B
Equity Method Investments, Total	213B	227B	269B	295B	327B
Inventories - Raw Materials, Total	164B	166B	196B	217B	204B
Inventories - Work In Process, Total	354B	392B	421B	474B	508B
Inventories - Finished Goods, Total	239B	275B	316B	334B	298B
Inventories - Others	42.13B	43.98B	40.94B	38.02B	32.2B
Full Time Employees	77.99K	76.86K	77.7K	77.27K	78.79K
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-
Order Backlog	5,489B	6,062B	8,401B	10,236B	13,238B

Fiscal Period: March	2022	2023	2024	2025	2026
Net Income	174B	191B	315B	375B	475B
Depreciation & Amortization - CF	136B	149B	156B	161B	211B
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	136B	149B	156B	161B	211B
(Gain) Loss From Sale Of Asset	-32.2B	-21.86B	-21.43B	-60.11B	935M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-16.86B	-13.5B	-2.15B	2.75B	-16.72B
Net Cash From Discontinued Operations	-	-	-	-	-5.55B
Other Operating Activities, Total	18.46B	-56.5B	-67.87B	-87.66B	-90.5B
Change In Accounts Receivable	-51.03B	-32.98B	-60.3B	-29.67B	-201B
Change In Inventories	-89.96B	-65.69B	-70.4B	-147B	-37.68B
Change In Accounts Payable	73.1B	-55.68B	20.73B	13.48B	108B
Change in Other Net Operating Assets	74.58B	-12.57B	61.52B	304B	500B
Cash from Operations	286B	80.89B	331B	530B	943B
Capital Expenditure	-129B	-132B	-160B	-241B	-181B
Sale of Property, Plant, and Equipment	51.74B	38.06B	37.26B	76.47B	14.61B
Cash Acquisitions	4.8B	-2.56B	-73.59B	-1.51B	-27.05B
Divestitures	10.5B	-944M	-	-1.48B	4.89B
Investment in Marketable and Equity Securities, Total	83.66B	54.06B	44.45B	-7.17B	94.42B
Net (Increase) Decrease in Loans Originated / Sold - Investing	1.8B	-1.27B	1.1B	-15.04B	-389M
Other Investing Activities, Total	-6.95B	-1.03B	20.2B	1.69B	45.41B
Cash from Investing	16.31B	-45.58B	-131B	-188B	-49.18B
Short Term Debt Issued, Total	-	-	9.28B	-	-
Long-Term Debt Issued, Total	77.33B	70.97B	48B	39.01B	11B
Total Debt Issued	77.33B	70.97B	57.28B	39.01B	11B
Short Term Debt Repaid, Total	-182B	-4.53B	-	-9.39B	-16.16B
Long-Term Debt Repaid, Total	-76.34B	-108B	-79.65B	-107B	-102B
Total Debt Repaid	-259B	-112B	-79.65B	-116B	-118B
Repurchase of Common Stock	-2.55B	-16M	-	-12.37B	-184M
Common Dividends Paid	-40.22B	-38.53B	-50.29B	-77.16B	-80.48B
Common & Preferred Stock Dividends Paid	-40.22B	-38.53B	-50.29B	-77.16B	-80.48B
Other Financing Activities, Total	-31.67B	60.87B	-86.25B	52.41B	-87.18B
Cash from Financing	-256B	-18.9B	-159B	-114B	-275B
Foreign Exchange Rate Adjustments	22.74B	17B	42.39B	-2.09B	79.52B
Miscellaneous Cash Flow Adjustments	1M	-	-	-2M	-21.35B
Net Change in Cash	68.84B	33.41B	83.62B	227B	677B
Supplemental Items
Cash Interest Paid	10.56B	13.11B	11.18B	14.46B	11.55B
Cash Income Tax Paid (Refund)	1.79B	75.89B	49.2B	106B	45B
Levered Free Cash Flow	64.93B	13.65B	144B	156B	319B
Unlevered Free Cash Flow	72.69B	22.59B	152B	166B	324B
Change In Net Working Capital	3.66B	107B	7.8B	-39.3B	-6.71B
Net Debt Issued / Repaid	-181B	-41.22B	-22.36B	-77.01B	-107B

Fiscal Period: March	2022	2023	2024	2025	2026
Profitability
Return on Assets	1.41	2.13	2.8	3.2	3.85
Return on Total Capital	2.58	3.91	5.03	5.82	7.46
Return On Equity %	8.1	8.37	11.61	10.85	12.58
Return on Common Equity	7.72	7.86	11.14	10.69	12.68
Margin Analysis
Gross Profit Margin %	16.99	18.2	19.97	20.51	21.77
SG&A Margin	11.91	12.37	11.75	11.55	10.74
EBITDA Margin %	6.41	7.82	8.99	9.78	13.5
EBITA Margin %	2.89	4.29	5.64	6.58	9.25
EBIT Margin %	2.89	4.29	5.64	6.58	9.25
Income From Continuing Operations Margin %	3.26	3.48	5.23	5.21	7.2
Net Income Margin %	2.94	3.1	4.77	4.88	6.68
Net Avail. For Common Margin %	2.94	3.1	4.77	4.88	6.93
Normalized Net Income Margin	1.99	2.47	3.53	3.64	6.25
Levered Free Cash Flow Margin	1.68	0.32	3.09	3.11	6.42
Unlevered Free Cash Flow Margin	1.88	0.54	3.26	3.3	6.52
Asset Turnover
Asset Turnover	0.78	0.79	0.79	0.78	0.67
Fixed Assets Turnover	4.38	4.63	4.83	4.97	5.29
Receivables Turnover (Average Receivables)	5.52	5.43	5.41	5.29	4.75
Inventory Turnover (Average Inventory)	4.24	4.1	4.03	3.92	3.7
Short Term Liquidity
Current Ratio	1.13	1.16	1.16	1.24	1.37
Quick Ratio	0.43	0.44	0.46	0.52	0.61
Operating Cash Flow to Current Liabilities	0.12	0.03	0.11	0.17	0.24
Days Sales Outstanding (Average Receivables)	66.17	67.27	67.61	69	76.8
Days Outstanding Inventory (Average Inventory)	86.12	88.95	90.91	93.04	98.69
Average Days Payable Outstanding	90.27	91.28	88.72	84.42	91.05
Cash Conversion Cycle (Average Days)	62.02	64.93	69.8	77.62	84.44
Long Term Solvency
Total Debt/Equity	64.86	65.02	48.42	45.8	27.14
Total Debt / Total Capital	39.34	39.4	32.62	31.41	21.35
LT Debt/Equity	46.53	45.98	32.35	34.45	19.24
Long-Term Debt / Total Capital	28.23	27.87	21.8	23.62	15.13
Total Liabilities / Total Assets	67.51	66.5	62.27	62.91	60.96
EBIT / Interest Expense	9	12.6	20.82	21.03	55.23
EBITDA / Interest Expense	19.94	22.99	33.18	31.24	80.58
(EBITDA - Capex) / Interest Expense	9.52	13.77	20.46	15.94	58.85
Total Debt / EBITDA	4.36	3.63	2.73	2.3	1.31
Net Debt / EBITDA	3.09	2.57	1.7	0.96	-0.68
Total Debt / (EBITDA - Capex)	9.12	6.05	4.43	4.51	1.79
Net Debt / (EBITDA - Capex)	6.46	4.29	2.76	1.89	-0.94
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	4.33	8.87	10.81	7.95	-1.05
Gross Profit, 1 Yr. Growth %	12.41	16.63	21.58	10.87	4.99
EBITDA, 1 Yr. Growth %	-6.63	32.87	27.3	17.43	36.55
EBITA, 1 Yr. Growth %	316.76	61.41	45.72	25.96	39.02
EBIT, 1 Yr. Growth %	316.76	61.41	45.72	25.96	39.02
Earnings From Cont. Operations, 1 Yr. Growth %	190.86	16.44	66.47	7.57	36.79
Net Income, 1 Yr. Growth %	179.39	14.89	70.2	10.55	35.32
Normalized Net Income, 1 Yr. Growth %	270.1	35.56	58.25	11.4	69.64
Diluted EPS Before Extra, 1 Yr. Growth %	179.77	14.85	70.09	10.57	35.36
Accounts Receivable, 1 Yr. Growth %	13.63	8.08	13.84	7.5	12.58
Inventory, 1 Yr. Growth %	11.93	9.8	11.14	9.02	-1.94
Net Property, Plant and Equip., 1 Yr. Growth %	1.77	4.24	8.19	2.01	-16.12
Total Assets, 1 Yr. Growth %	6.35	7.01	14.27	6.44	24.19
Tangible Book Value, 1 Yr. Growth %	18.03	11.77	28.49	5.47	39.21
Common Equity, 1 Yr. Growth %	15.39	10.42	28.93	4.55	31.61
Cash From Operations, 1 Yr. Growth %	-400.76	-71.67	309.44	60.17	77.7
Capital Expenditures, 1 Yr. Growth %	-11.6	2.05	21.67	49.98	-24.77
Levered Free Cash Flow, 1 Yr. Growth %	-79.08	-78.98	954.69	8.56	104.27
Unlevered Free Cash Flow, 1 Yr. Growth %	-77.06	-68.92	572.16	9.4	95.31
Dividend Per Share, 1 Yr. Growth %	33.33	30	53.85	15	8.7
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-2.27	6.58	9.84	9.37	3.35
Gross Profit, 2 Yr. CAGR %	-3.89	14.5	19.08	16.1	7.89
EBITDA, 2 Yr. CAGR %	-28.43	11.39	30.06	22.27	26.63
EBITA, 2 Yr. CAGR %	-16.22	159.36	53.36	35.48	32.33
EBIT, 2 Yr. CAGR %	-16.22	159.36	53.36	35.48	32.33
Earnings From Cont. Operations, 2 Yr. CAGR %	8.22	84.03	39.23	33.82	21.3
Net Income, 2 Yr. CAGR %	14.16	79.16	39.84	37.17	22.31
Normalized Net Income, 2 Yr. CAGR %	-5.28	123.99	46.47	32.77	37.47
Diluted EPS Before Extra, 2 Yr. CAGR %	14.23	79.26	39.77	37.14	22.34
Accounts Receivable, 2 Yr. CAGR %	10.29	10.82	10.92	10.63	10.01
Inventory, 2 Yr. CAGR %	4.86	10.86	10.47	10.08	3.4
Net Property, Plant and Equip., 2 Yr. CAGR %	-0.04	3	6.19	5.05	-7.5
Total Assets, 2 Yr. CAGR %	1.3	6.68	10.58	10.29	14.97
Tangible Book Value, 2 Yr. CAGR %	16.5	14.86	19.84	16.41	21.17
Common Equity, 2 Yr. CAGR %	13.76	12.88	19.32	16.1	17.3
Cash From Operations, 2 Yr. CAGR %	-20.57	-7.7	7.69	156.08	68.71
Capital Expenditures, 2 Yr. CAGR %	-27.56	-5.02	11.43	35.08	6.22
Levered Free Cash Flow, 2 Yr. CAGR %	-59.06	-79.03	48.9	238.38	48.91
Unlevered Free Cash Flow, 2 Yr. CAGR %	-57.01	-73.3	44.53	171.17	46.17
Dividend Per Share, 2 Yr. CAGR %	-18.35	31.66	41.42	33.01	11.8
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-1.82	1.31	7.97	9.2	5.78
Gross Profit, 3 Yr. CAGR %	-5.13	2.52	16.82	16.28	12.27
EBITDA, 3 Yr. CAGR %	-16.37	-12.03	16.46	25.7	26.85
EBITA, 3 Yr. CAGR %	-20.73	4.25	114.01	43.63	36.65
EBIT, 3 Yr. CAGR %	-20.73	4.25	114.01	43.63	36.65
Earnings From Cont. Operations, 3 Yr. CAGR %	-0.74	10.89	77.98	27.75	34.8
Net Income, 3 Yr. CAGR %	3.86	14.4	76.12	29.3	36.55
Normalized Net Income, 3 Yr. CAGR %	-13.24	6.75	99.49	33.7	44.07
Diluted EPS Before Extra, 3 Yr. CAGR %	3.89	14.44	76.15	29.27	36.54
Accounts Receivable, 3 Yr. CAGR %	1.24	9.55	11.82	9.77	11.27
Inventory, 3 Yr. CAGR %	2.61	6.49	10.95	9.99	5.92
Net Property, Plant and Equip., 3 Yr. CAGR %	4.22	1.37	4.7	4.78	-2.54
Total Assets, 3 Yr. CAGR %	-0.17	3.17	9.15	9.18	14.74
Tangible Book Value, 3 Yr. CAGR %	4.65	14.9	19.23	14.84	23.56
Common Equity, 3 Yr. CAGR %	3.29	12.64	17.99	14.18	21.06
Cash From Operations, 3 Yr. CAGR %	-10.99	-43.67	51.66	22.93	126.72
Capital Expenditures, 3 Yr. CAGR %	-16.78	-18.79	3.15	23.03	11.14
Levered Free Cash Flow, 3 Yr. CAGR %	-46.9	-67.22	-22.59	34.01	185.98
Unlevered Free Cash Flow, 3 Yr. CAGR %	-45.02	-61.42	-21.75	31.72	143.07
Dividend Per Share, 3 Yr. CAGR %	-8.37	-4.66	38.67	32	24.36
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-0.28	0.44	2.69	4.46	6.1
Gross Profit, 5 Yr. CAGR %	-2.2	0.92	3.9	7.75	13.16
EBITDA, 5 Yr. CAGR %	-6.15	0.6	-0.21	0.35	20.42
EBITA, 5 Yr. CAGR %	-7.74	4.74	3.21	15.77	76.58
EBIT, 5 Yr. CAGR %	-5.79	7.34	3.21	15.77	76.58
Earnings From Cont. Operations, 5 Yr. CAGR %	3.6	8.75	13.65	19.55	52.68
Net Income, 5 Yr. CAGR %	5.3	13.1	16.98	23.02	52.22
Normalized Net Income, 5 Yr. CAGR %	3.16	15.49	6.98	16.48	71.89
Diluted EPS Before Extra, 5 Yr. CAGR %	5.33	13.14	16.98	23.03	52.25
Accounts Receivable, 5 Yr. CAGR %	-8.66	-8.04	5.01	9.98	11.09
Inventory, 5 Yr. CAGR %	-9.64	-6.28	5.68	7.91	7.87
Net Property, Plant and Equip., 5 Yr. CAGR %	-1.02	1.31	5.01	2.83	-0.36
Total Assets, 5 Yr. CAGR %	-1.37	-0.05	4	5.96	11.44
Tangible Book Value, 5 Yr. CAGR %	-2.15	-0.94	10.48	15.5	20
Common Equity, 5 Yr. CAGR %	-2.45	-0.96	9.42	14.01	17.72
Cash From Operations, 5 Yr. CAGR %	24.38	-25.19	-3.94	3.23	58.26
Capital Expenditures, 5 Yr. CAGR %	-8.38	-4.4	-6.47	-0.46	4.37
Levered Free Cash Flow, 5 Yr. CAGR %	81.25	-38.5	-19.79	-16.6	0.56
Unlevered Free Cash Flow, 5 Yr. CAGR %	47.3	-32.46	-19.07	-15.83	0.47
Dividend Per Share, 5 Yr. CAGR %	-3.58	1.61	9	8.92	27.23