Earnings quality
Compare earnings and operating cash flow for earnings quality.
Mizuho Financial Group, Inc.
Ticker 8411 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-19 · Period end 2026-03-31
Takeaway
Dig deeperThe numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
Compare earnings and operating cash flow for earnings quality.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin—
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
株式会社みずほフィナンシャルグループ is a Japanese listed company. Its reportable segments include AMC, CIBC, GCIBC, GMC.
- AMC
- CIBC
- GCIBC
- GMC
- RBC
- Other
- Description Of
- Explanation Of Measurements Of Sales Profit Loss Asset Liability And Other Items For Each
Segments AMC · CIBC · GCIBC · GMC · RBC · Other
Financial statements
Income statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Revenue | — | — |
| Cost of sales* | — | — |
| Gross profit | — | — |
| Operating profit (loss) | — | — |
| Finance income | — | — |
| Finance costs | — | — |
| Income tax expense | ¥301.4B | ¥368.1B |
| Profit (loss) | ¥888.7B | ¥1.3T |
| Profit (loss) attributable to owners | ¥885.4B | ¥1.2T |
| Basic EPS (¥) | — | — |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥70.7T | ¥59.7T |
| Current assets | — | — |
| Non-current assets | — | — |
| Total assets | ¥283.3T | ¥302.2T |
| Short-term borrowings | — | — |
| Current liabilities | — | — |
| Non-current liabilities* | — | — |
| Total liabilities | ¥272.8T | ¥290.8T |
| 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 | -¥3.8T | -¥4.8T |
| Cash flows from investing activities | — | — |
| Cash flows from financing activities | -¥299.0B | -¥523.2B |
| Net increase (decrease) in cash | -¥442.5B | -¥11.0T |
| Cash at end of period | ¥70.7T | ¥59.7T |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Operating profit | ¥559.8B | ¥789.6B | ¥914.0B | ¥1.2T | ¥1.6T | |
| Profit to owners | — | — | — | ¥885.4B | ¥1.2T | |
| Total assets | ¥237.1T | ¥254.3T | ¥278.7T | ¥283.3T | ¥302.2T | |
| Cash & equivalents | — | — | ¥71.2T | ¥70.7T | ¥59.7T | |
| Owners’ equity | ¥9.2T | ¥9.2T | ¥10.3T | ¥10.5T | ¥11.4T |
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 — to — (—), so the top line did not break. Gross profit only slipped from — to —, while operating profit swung from — to — — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still -¥4.8T (prior -¥3.8T), and cash on the balance sheet rose to ¥59.7T from ¥70.7T. 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 ¥290.8T while owners’ equity fell to —. ROE moved from 8.6% to 11.5%, and the equity ratio from 3.7% to 3.7%. Employee count is 52,427 vs 52,554 a year earlier.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Capital structure held relatively steady.
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Source: EDINET S100YF8Y
(株式会社みずほフィナンシャルグループ), period end 2026-03-31.