Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
Doing some research...
Over the five-year period Honda’s reported total assets rose steadily from 21,921,030 to 30,775,867 (a rise of 8,854,837, or about +40.4%). The largest single-year increase occurred in 2024 (+5,104,083, +20.7%), with a much smaller increase in 2025 (+1,001,717, +3.4%). Total liabilities increased from 12,548,191 to 18,148,045 (+5,599,854, +44.6%), with a pronounced jump in 2024 (+3,600,502, +27.3%) and another meaningful increase in 2025 (+1,379,767, +8.2%). Calculating equity as assets minus liabilities shows shareholders’ equity rising from 9,372,839 in 2021 to a peak of 13,005,872 in 2024, then easing to 12,627,822 in 2025 (net five-year gain +3,254,983, +34.7%). The balance-sheet mix improved through 2023 as leverage (liabilities/assets) fell from about 57% in 2021 to ~53% in 2023, reflecting stronger equity growth versus debt in those years. However, the 2024–2025 pattern reversed that trend: both assets and liabilities jumped in 2024 (likely reflecting sizable capex, inventory buildups or strategic investments common in the auto industry as firms invest in EVs and supply-chain resilience), and liabilities grew faster than assets into 2025, pushing leverage back toward ~59% and causing a modest decline in equity in 2025. Overall the company maintains a substantial equity base, but the recent uptick in leverage warrants monitoring—especially given the capital-intensive, cyclical nature of the automotive sector and ongoing electrification investments.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.