Live News • May 14
Mazda Returns to Profit With JPY 35b FY25 Earnings Despite US Policy Headwinds Mazda Motor reported net profits of JPY 35b for FY25, returning to profit in Q4 after earlier losses in the year.
Earnings for the full fiscal year were sharply affected by changes in US policy, including import tariffs and the removal of some BEV incentives.
The company cited higher raw material and logistics costs as additional pressure on results, while forecasting a 6% rise in global sales for FY26 alongside a rebound in operating and net income.
The key question now is whether Mazda can execute on its FY26 sales and income forecasts while managing policy risk in the US and cost pressures in its supply chain.
For you, the main focus is how exposed Mazda’s profitability remains to policy changes and input costs, since any further shifts on tariffs or EV incentives could affect volumes, pricing and margins. Reported Earnings • May 13
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥55.64 (down from JP¥181 in FY 2025). Revenue: JP¥4.92t (down 2.0% from FY 2025). Net income: JP¥35.1b (down 69% from FY 2025). Profit margin: 0.7% (down from 2.3% in FY 2025). Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 154%. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Auto industry in Japan. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • May 12
Mazda Motor Corporation, Annual General Meeting, Jun 24, 2026 Mazda Motor Corporation, Annual General Meeting, Jun 24, 2026. Announcement • Apr 17
Mazda Motor Corporation to Report Fiscal Year 2026 Results on May 12, 2026 Mazda Motor Corporation announced that they will report fiscal year 2026 results at 1:30 PM, Tokyo Standard Time on May 12, 2026 Major Estimate Revision • Apr 07
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from JP¥26.94 to JP¥23.07. Revenue forecast unchanged from JP¥4.86t at last update. Net income forecast to grow 800% next year vs 90% growth forecast for Auto industry in Japan. Consensus price target down from JP¥1,382 to JP¥1,336. Share price was steady at JP¥1,034 over the past week. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.2%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.2%). Major Estimate Revision • Feb 21
Consensus EPS estimates increase by 19% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from JP¥22.45 to JP¥26.81. Revenue forecast steady at JP¥4.87t. Net income forecast to grow 850% next year vs 93% growth forecast for Auto industry in Japan. Consensus price target up from JP¥1,279 to JP¥1,311. Share price was steady at JP¥1,342 over the past week. Major Estimate Revision • Feb 17
Consensus EPS estimates fall by 25% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from JP¥29.77 to JP¥22.45 per share. Revenue forecast steady at JP¥4.87t. Net income forecast to grow 833% next year vs 94% growth forecast for Auto industry in Japan. Consensus price target up from JP¥1,174 to JP¥1,300. Share price was steady at JP¥1,377 over the past week. Price Target Changed • Feb 12
Price target increased by 9.0% to JP¥1,279 Up from JP¥1,174, the current price target is an average from 14 analysts. New target price is approximately in line with last closing price of JP¥1,315. Stock is up 25% over the past year. The company is forecast to post earnings per share of JP¥24.43 for next year compared to JP¥181 last year. Reported Earnings • Feb 11
Third quarter 2026 earnings: EPS and revenues exceed analyst expectations Third quarter 2026 results: EPS: JP¥48.47 (down from JP¥87.64 in 3Q 2025). Revenue: JP¥1.26t (down 2.5% from 3Q 2025). Net income: JP¥30.6b (down 45% from 3Q 2025). Profit margin: 2.4% (down from 4.3% in 3Q 2025). Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates by 66%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Auto industry in Japan. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Feb 10
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to JP¥1,354. The fair value is estimated to be JP¥1,113, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 25%. For the next 3 years, revenue is forecast to grow by 2.6% per annum. Earnings are also forecast to grow by 37% per annum over the same time period. Major Estimate Revision • Feb 03
Consensus EPS estimates fall by 13% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from JP¥34.10 to JP¥29.77 per share. Revenue forecast steady at JP¥4.86t. Net income forecast to grow 75% next year vs 7.7% growth forecast for Auto industry in Japan. Consensus price target broadly unchanged at JP¥1,174. Share price rose 4.2% to JP¥1,212 over the past week. Announcement • Jan 19
Mazda Motor Corporation to Report Q3, 2026 Results on Feb 10, 2026 Mazda Motor Corporation announced that they will report Q3, 2026 results at 1:30 PM, Tokyo Standard Time on Feb 10, 2026 Buy Or Sell Opportunity • Dec 15
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 7.6% to JP¥1,213. The fair value is estimated to be JP¥996, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 25%. For the next 3 years, revenue is forecast to grow by 2.3% per annum. Earnings are also forecast to grow by 37% per annum over the same time period. Major Estimate Revision • Dec 13
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from JP¥28.11 to JP¥32.00. Revenue forecast steady at JP¥4.87t. Net income forecast to grow 67% next year vs 5.7% growth forecast for Auto industry in Japan. Consensus price target up from JP¥1,096 to JP¥1,126. Share price rose 5.8% to JP¥1,187 over the past week. Declared Dividend • Dec 03
First half dividend of JP¥30.00 announced Dividend of JP¥30.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 4.9%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is not covered by earnings (104% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.2% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 15% to bring the payout ratio under control. EPS is expected to grow by 149% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Nov 27
Perrone Robotics Files Patent Infringement Actions to Protect Foundational Robotic and Automated Vehicle Technology against Tesla, Toyota, Volkswagen, Hyundai, Kia, Mazda, and Nissan Perrone Robotics, Inc. and Perrone Robotics Innovations, LLC announced that they have filed lawsuits asserting infringement of Perrone Robotics' patented automated vehicle and robotics technologies by seven major automakers: Tesla, Toyota, Volkswagen, Hyundai, Kia, Mazda, and Nissan. The complaints, filed in the U.S. District Courts for the Eastern District of Texas and the Eastern District of Virginia, allege that general-purpose robotics operating systems and applications used with automated driving systems rely on Perrone Robotics' innovations without authorization. Now an industry standard, Perrone Robotics' technology was groundbreaking when company founder Paul Perrone developed it in the mid-2000s. The technology enables automated driving applications to be deployed across fleets of vehicles, an advancement that helped shape the foundation of today's automated vehicles. Paul Perrone was, and remains, a trailblazer in automated vehicle technology, robotics, and AI. Today, nearly every automaker, including the defendants, features automated driving applications as a core component of vehicle safety and driver convenience. The complaints allege that certain automated driving suites and vehicle software stacks incorporate features covered by Perrone Robotics' patents. Perrone Robotics is represented by leading national litigation firm Susman Godfrey LLP, including Shawn Blackburn, Sy Polky, Hunter Vance, Larry Liu, Sarah Pike, and Whitney Wester. Perrone Robotics continues to advance and deploy its autonomous vehicle technologies globally. The company remains focused on collaboration with industry partners, maintaining active integrations and programs that deliver safe, reliable, and practical autonomy solutions. Reported Earnings • Nov 08
Second quarter 2026 earnings: EPS and revenues miss analyst expectations Second quarter 2026 results: JP¥5.04 loss per share (improved from JP¥22.98 loss in 2Q 2025). Revenue: JP¥1.14t (down 4.2% from 2Q 2025). Net loss: JP¥3.18b (loss narrowed 78% from 2Q 2025). Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Auto industry in Japan. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Oct 31
Now 20% undervalued Over the last 90 days, the stock has risen 16% to JP¥1,068. The fair value is estimated to be JP¥1,336, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has declined by 7.4%. For the next 3 years, revenue is forecast to grow by 1.6% per annum. Earnings are also forecast to grow by 37% per annum over the same time period. Announcement • Oct 30
Mazda Motor Corporation Unveils Two Vision Models Mazda Motor Corporation (Mazda) unveiled two vision models, the MAZDA VISION X-COUPE and the MAZDA VISIONX-COMPACT ('X' pronounced as 'cross'), both embodying the Company's theme for this year's exhibition: "The Joy of Driving Fuels a Sustainable Tomorrow" for 2035. The MAZDA VISION X -COUPE is a crossover coupe that embodies the further evolution of 'KODO-Soul of Motion' design language. It is powered by a plug-in hybrid system integrating a two-rotor rotary turbo engine with a motor and battery. With a maximum output of 510 PS, the vehicle offers a driving range of 160 km in motor-only mode and up to 800 km when operating in combination with the engine. Furthermore, by combining carbon-neutral fuel derived from microalgae with Mazda's proprietary CO2 capture technology, "Mazda Mobile Carbon Capture," the vehicle contributes to reducing atmospheric CO2 the more it is driven. The MAZDA Vision X-COMPACT is a model designed to deepen the bond between people and cars through the fusion of a human sensory digital model and empathetic Al. Acting like a close companion, it is capable of engaging in natural conversation and suggesting destinations, helping expand the driver's world. This represents Mazda's vision for the future of smart mobility, where vehicles and people form an emotional connection, much like a friend. Furthermore, the All-New MAZDA CX-5 (European specification), is on display to the general public for the first time ever. Featuring a spacious interior, refined KODO design, and enhanced Jinba-ittai (oneness between driver and car) driving dynamics, this model represents the evolution of a best-selling vehicle that has sold over 4.5 million units across more than 100 countries and regions. Designed with the new electronic platform "MAZDA E/E ARCHITECTURE+", this latest model aims to offer an evolved driving experience. Announcement • Oct 09
Mazda Motor Corporation to Report Q2, 2026 Results on Nov 07, 2025 Mazda Motor Corporation announced that they will report Q2, 2026 results at 1:30 PM, Tokyo Standard Time on Nov 07, 2025 Buy Or Sell Opportunity • Sep 29
Now 20% undervalued Over the last 90 days, the stock has risen 28% to JP¥1,088. The fair value is estimated to be JP¥1,360, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has declined by 7.4%. For the next 3 years, revenue is forecast to grow by 1.5% per annum. Earnings are also forecast to grow by 37% per annum over the same time period. Major Estimate Revision • Sep 26
Consensus EPS estimates fall by 45% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from JP¥45.70 to JP¥24.92 per share. Revenue forecast steady at JP¥4.85t. Net income forecast to grow 32% next year vs 16% growth forecast for Auto industry in Japan. Consensus price target down from JP¥1,061 to JP¥1,025. Share price rose 4.2% to JP¥1,141 over the past week. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.9%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.4%). Major Estimate Revision • Sep 09
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from JP¥65.89 to JP¥58.85 per share. Revenue forecast steady at JP¥4.88t. Net income forecast to grow 109% next year vs 17% growth forecast for Auto industry in Japan. Consensus price target up from JP¥965 to JP¥1,050. Share price rose 13% to JP¥1,176 over the past week. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥1,176, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 11x in the Auto industry in Japan. Total returns to shareholders of 7.9% over the past three years. Price Target Changed • Sep 06
Price target increased by 8.1% to JP¥1,043 Up from JP¥965, the current price target is an average from 14 analysts. New target price is approximately in line with last closing price of JP¥1,098. Stock is down 2.9% over the past year. The company is forecast to post earnings per share of JP¥60.21 for next year compared to JP¥181 last year. Major Estimate Revision • Aug 27
Consensus EPS estimates increase by 17% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from JP¥56.43 to JP¥65.89. Revenue forecast steady at JP¥4.89t. Net income forecast to grow 112% next year vs 19% growth forecast for Auto industry in Japan. Consensus price target broadly unchanged at JP¥965. Share price was steady at JP¥1,001 over the past week. Buy Or Sell Opportunity • Aug 21
Now 20% undervalued Over the last 90 days, the stock has risen 9.3% to JP¥977. The fair value is estimated to be JP¥1,223, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has declined by 7.4%. For the next 3 years, revenue is forecast to grow by 1.2% per annum. Earnings are also forecast to grow by 31% per annum over the same time period. Major Estimate Revision • Aug 12
Consensus EPS estimates increase from loss to JP¥60.12 profit The consensus outlook for fiscal year 2026 has been updated. 2026 forecast for profit of -JP¥13.18 instead of a loss of JP¥60.12 per share previously. Revenue forecast unchanged at JP¥4.89t. Auto industry in Japan expected to see average net income growth of 20% next year. Consensus price target up from JP¥936 to JP¥958. Share price rose 3.1% to JP¥972 over the past week. New Risk • Aug 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 55% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 156% Dividend per share is over 9x cash flows per share. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.5% net profit margin). Major Estimate Revision • Jul 24
Consensus EPS estimates upgraded to JP¥10.76 loss The consensus outlook for fiscal year 2026 has been updated. 2026 losses forecast to reduce from -JP¥13.50 to -JP¥10.76 per share. Revenue forecast steady at JP¥4.86t. Auto industry in Japan expected to see average net income decline 14% next year. Consensus price target broadly unchanged at JP¥922. Share price rose 19% to JP¥1,008 over the past week. Declared Dividend • Jul 21
Final dividend of JP¥15.00 announced Shareholders will receive a dividend of JP¥15.00. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 5.3%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 10% over the next 3 years. However, it would need to fall by 66% to increase the payout ratio to a potentially unsustainable range. Announcement • Jul 08
Mazda Motor Corporation to Report Q1, 2026 Results on Aug 05, 2025 Mazda Motor Corporation announced that they will report Q1, 2026 results at 1:30 PM, Tokyo Standard Time on Aug 05, 2025 Reported Earnings • Jun 29
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥181 (down from JP¥330 in FY 2024). Revenue: JP¥5.02t (up 4.0% from FY 2024). Net income: JP¥114.1b (down 45% from FY 2024). Profit margin: 2.3% (down from 4.3% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to stay flat during the next 3 years compared to a 2.6% growth forecast for the Auto industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Major Estimate Revision • Jun 24
Consensus EPS estimates fall by 39% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from JP¥44.49 to JP¥27.01 per share. Revenue forecast steady at JP¥4.87t. Net income forecast to shrink 85% next year vs 6.4% decline forecast for Auto industry in Japan. Consensus price target broadly unchanged at JP¥934. Share price fell 3.7% to JP¥827 over the past week. Major Estimate Revision • May 30
Consensus EPS estimates fall by 15% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from JP¥109 to JP¥92.63 per share. Revenue forecast steady at JP¥4.90t. Net income forecast to shrink 49% next year vs 4.6% growth forecast for Auto industry in Japan . Consensus price target broadly unchanged at JP¥967. Share price was steady at JP¥911 over the past week. Buy Or Sell Opportunity • May 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to JP¥894. The fair value is estimated to be JP¥1,133, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 0.8% per annum. Earnings are also forecast to grow by 5.0% per annum over the same time period. Reported Earnings • May 13
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥181 (down from JP¥330 in FY 2024). Revenue: JP¥5.02t (up 4.0% from FY 2024). Net income: JP¥114.1b (down 45% from FY 2024). Profit margin: 2.3% (down from 4.3% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Auto industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 16
Price target decreased by 14% to JP¥1,043 Down from JP¥1,207, the current price target is an average from 14 analysts. New target price is 27% above last closing price of JP¥820. Stock is down 52% over the past year. The company is forecast to post earnings per share of JP¥216 for next year compared to JP¥330 last year. Announcement • Apr 15
Mazda Motor Corporation to Report Fiscal Year 2025 Results on May 12, 2025 Mazda Motor Corporation announced that they will report fiscal year 2025 results at 2:00 PM, Tokyo Standard Time on May 12, 2025 Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥823, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 7x in the Auto industry in Japan. Total returns to shareholders of 9.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥930 per share. New Risk • Apr 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.4% average weekly change). Profit margins are more than 30% lower than last year (2.7% net profit margin). New Risk • Apr 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.07% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.07% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (2.7% net profit margin). Upcoming Dividend • Mar 21
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 5.1%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.4%). Reported Earnings • Feb 08
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: JP¥87.64 (down from JP¥91.04 in 3Q 2024). Revenue: JP¥1.30t (up 3.7% from 3Q 2024). Net income: JP¥55.2b (down 3.7% from 3Q 2024). Profit margin: 4.3% (down from 4.6% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Auto industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Jan 15
Mazda Motor Corporation to Report Q3, 2025 Results on Feb 07, 2025 Mazda Motor Corporation announced that they will report Q3, 2025 results at 1:00 PM, Tokyo Standard Time on Feb 07, 2025 Declared Dividend • Dec 03
First half dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 28th March 2025 Payment date: 26th June 2025 Dividend yield will be 5.6%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (14% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 27% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • Nov 14
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥5.12t to JP¥5.02t. EPS estimate also fell from JP¥278 per share to JP¥248 per share. Net income forecast to grow 21% next year vs 7.7% growth forecast for Auto industry in Japan. Consensus price target down from JP¥1,529 to JP¥1,454. Share price fell 4.9% to JP¥1,004 over the past week. Reported Earnings • Nov 09
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: JP¥22.98 loss per share (down from JP¥113 profit in 2Q 2024). Revenue: JP¥1.19t (down 3.1% from 2Q 2024). Net loss: JP¥14.5b (down 120% from profit in 2Q 2024). Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Auto industry in Japan. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Oct 17
Mazda Motor Corporation to Report Q2, 2025 Results on Nov 07, 2024 Mazda Motor Corporation announced that they will report Q2, 2025 results at 3:30 PM, Tokyo Standard Time on Nov 07, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 5.0%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (3.3%). Price Target Changed • Aug 29
Price target decreased by 7.0% to JP¥1,704 Down from JP¥1,832, the current price target is an average from 14 analysts. New target price is 42% above last closing price of JP¥1,201. Stock is down 22% over the past year. The company is forecast to post earnings per share of JP¥296 for next year compared to JP¥330 last year. Reported Earnings • Aug 08
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: JP¥79.06 (up from JP¥59.11 in 1Q 2024). Revenue: JP¥1.21t (up 11% from 1Q 2024). Net income: JP¥49.8b (up 34% from 1Q 2024). Profit margin: 4.1% (up from 3.4% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Auto industry in Japan. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. New Risk • Aug 08
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.09% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.09% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to JP¥1,049, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 6x in the Auto industry in Japan. Total returns to shareholders of 16% over the past three years. New Risk • Jul 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.3% average weekly change). Declared Dividend • Jul 17
Final dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 3.9%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 27% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next 3 years, which should provide adequate earnings cover for the dividend. Announcement • Jul 12
Mazda Motor Corporation to Report Q1, 2025 Results on Aug 07, 2024 Mazda Motor Corporation announced that they will report Q1, 2025 results at 1:00 PM, Tokyo Standard Time on Aug 07, 2024 New Risk • Jul 10
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.06% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.06% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Jun 28
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥330 (up from JP¥227 in FY 2023). Revenue: JP¥4.83t (up 26% from FY 2023). Net income: JP¥207.7b (up 45% from FY 2023). Profit margin: 4.3% (up from 3.7% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.2%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Auto industry in Japan. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. 
