Earnings quality
Compare earnings and operating cash flow for earnings quality.
Nissan Motor Co., Ltd.
Ticker 7201 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-22 · Period end 2026-03-31
Takeaway
Dig deeperThe numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
operating margin is 0.5%.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin0.5%
Equity ratio—
Last price—
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
日産自動車株式会社 is a Japanese listed company. Its reportable segments include Automobile, Sales Financing, Description Of, Explanation Of Measurements Of Sales Profit Loss Asset Liability And Other Items For Each.
- Automobile
- Sales Financing
- Description Of
- Explanation Of Measurements Of Sales Profit Loss Asset Liability And Other Items For Each
Segments Automobile · Sales Financing · Description Of · Explanation Of Measurements Of Sales Profit Loss Asset Liability And Other Items For Each
Compare trends
No phone/email found in this filing · Filing date 2026-06-22
Financial statements
Income statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Revenue | ¥12.6T | ¥12.0T |
| Cost of sales* | ¥10.9T | ¥10.5T |
| Gross profit | ¥1.7T | ¥1.5T |
| Operating profit (loss) | ¥69.8B | ¥58.0B |
| Finance income | — | — |
| Finance costs | — | — |
| Income tax expense | ¥246.5B | ¥86.3B |
| Profit (loss) | -¥660.1B | -¥526.7B |
| Profit (loss) attributable to owners | -¥670.9B | -¥533.1B |
| Basic EPS (¥) | — | — |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥2.2T | ¥2.3T |
| Current assets | ¥12.3T | ¥12.7T |
| Non-current assets | ¥6.7T | ¥7.1T |
| Total assets | ¥19.0T | ¥19.8T |
| Short-term borrowings | ¥876.1B | ¥1.2T |
| Current liabilities | ¥8.1T | ¥8.1T |
| Non-current liabilities* | ¥5.5T | ¥6.4T |
| Total liabilities | ¥13.6T | ¥14.6T |
| Equity attributable to owners | — | — |
| Total equity | — | — |
Cash flow statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥753.7B | ¥794.7B |
| Cash flows from investing activities | — | — |
| Cash flows from financing activities | ¥263.3B | ¥51.9B |
| Net increase (decrease) in cash | ¥71.3B | ¥67.3B |
| Cash at end of period | ¥2.2T | ¥2.3T |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | ¥8.4T | ¥10.6T | ¥12.7T | ¥12.6T | ¥12.0T | |
| Operating profit | ¥306.1B | ¥515.4B | ¥702.2B | ¥210.2B | ¥1.1B | |
| Profit to owners | — | — | — | -¥670.9B | -¥533.1B | |
| Total assets | ¥16.4T | ¥17.6T | ¥19.9T | ¥19.0T | ¥19.8T | |
| Cash & equivalents | — | — | ¥2.1T | ¥2.2T | ¥2.3T | |
| Owners’ equity | ¥5.0T | ¥5.6T | ¥6.5T | ¥5.4T | ¥5.2T |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Mixed
The numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
On the income statement, revenue moved from ¥12.6T to ¥12.0T (▼ -4.9%), so the top line did not break. Gross profit only slipped from ¥1.7T to ¥1.5T, while operating profit swung from ¥69.8B to ¥58.0B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥794.7B (prior ¥753.7B), and cash on the balance sheet rose to ¥2.3T from ¥2.2T. When profits collapse but operating cash stays positive, read the notes for impairments and other non-cash charges before assuming the business stopped generating cash.
The balance sheet got heavier on leverage. Total liabilities rose to ¥14.6T while owners’ equity fell to —. ROE moved from -12.3% to -10.9%, and the equity ratio from 26.1% to 24.2%. Employee count is 120,079 vs 132,790 a year earlier.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Owners’ equity ratio fell from 26.1% to 24.2%; the balance sheet absorbed a heavy loss year.
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Source: EDINET S100YH2B
(日産自動車株式会社), period end 2026-03-31.