Earnings quality
Compare earnings and operating cash flow for earnings quality.
Mazda Motor Corporation
Ticker 7261 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-23 · 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 1.0%.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin1.0%
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
マツダ株式会社 is a Japanese listed company. Its reportable segments include Europe, Japan, North America, Other.
- Europe
- Japan
- North America
- Other
- Description Of
- Explanation Of Measurements Of Sales Profit Loss Asset Liability And Other Items For Each
Segments Europe · Japan · North America · Other · 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 2026-06-23
Financial statements
Income statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Revenue | ¥5.0T | ¥4.9T |
| Cost of sales* | ¥3.9T | ¥4.0T |
| Gross profit | ¥1.1T | ¥886.4B |
| Operating profit (loss) | ¥186.1B | ¥51.6B |
| Finance income | — | — |
| Finance costs | — | — |
| Income tax expense | ¥40.7B | ¥23.4B |
| Profit (loss) | ¥115.1B | ¥35.9B |
| Profit (loss) attributable to owners | ¥114.1B | ¥35.1B |
| Basic EPS (¥) | — | — |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥1.1T | ¥1.3T |
| Current assets | ¥2.2T | ¥2.4T |
| Non-current assets | ¥1.9T | ¥2.0T |
| Total assets | ¥4.1T | ¥4.5T |
| Short-term borrowings | ¥32.3B | ¥31.1B |
| Current liabilities | ¥1.5T | ¥1.6T |
| Non-current liabilities* | ¥778.7B | ¥940.9B |
| Total liabilities | ¥2.3T | ¥2.6T |
| 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 | ¥305.6B | ¥223.0M |
| Cash flows from investing activities | — | — |
| Cash flows from financing activities | ¥90.1B | ¥105.0B |
| Net increase (decrease) in cash | ¥186.3B | ¥187.6B |
| Cash at end of period | ¥1.1T | ¥1.3T |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | ¥3.1T | ¥3.8T | ¥4.8T | ¥5.0T | ¥4.9T | |
| Operating profit | ¥123.5B | ¥185.9B | ¥320.1B | ¥189.0B | ¥131.8B | |
| Profit to owners | — | — | — | ¥114.1B | ¥35.1B | |
| Total assets | ¥3.0T | ¥3.3T | ¥3.8T | ¥4.1T | ¥4.5T | |
| Cash & equivalents | — | — | ¥919.3B | ¥1.1T | ¥1.3T | |
| Owners’ equity | ¥1.3T | ¥1.5T | ¥1.8T | ¥1.8T | ¥1.9T |
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 ¥5.0T to ¥4.9T (▼ -2.0%), so the top line did not break. Gross profit only slipped from ¥1.1T to ¥886.4B, while operating profit swung from ¥186.1B to ¥51.6B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥223.0M (prior ¥305.6B), and cash on the balance sheet rose to ¥1.3T from ¥1.1T. 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 ¥2.6T while owners’ equity fell to —. ROE moved from 6.5% to 1.9%, and the equity ratio from 43.8% to 42.5%. Employee count is 47,144 vs 48,783 a year earlier.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Owners’ equity ratio fell from 43.8% to 42.5%; the balance sheet absorbed a heavy loss year.
Was this page helpful?
Source: EDINET S100YDZ1
(マツダ株式会社), period end 2026-03-31.