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Mitsubishi Heavy Industries

OTCPK:MHVY.F
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MHVY.F
OTCPK
¥1,607B
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

Mitsubishi Heavy Industries, Ltd. manufactures and sells heavy machinery worldwide. The last earnings update was 14 days ago. More info.


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MHVY.F Share Price and Events
7 Day Returns
2.1%
OTCPK:MHVY.F
-0.8%
US Machinery
0.2%
US Market
1 Year Returns
16.2%
OTCPK:MHVY.F
-4.3%
US Machinery
2.9%
US Market
MHVY.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Mitsubishi Heavy Industries (MHVY.F) 2.1% 8.1% 13.7% 16.2% 1044.7% 656%
US Machinery -0.8% -6.8% -1.9% -4.3% 41.9% 23.1%
US Market 0.2% -1.6% 2.4% 2.9% 36.1% 41%
1 Year Return vs Industry and Market
  • MHVY.F outperformed the Machinery industry which returned -4.3% over the past year.
  • MHVY.F outperformed the Market in United States of America which returned 2.9% over the past year.
Price Volatility
MHVY.F
Industry
5yr Volatility vs Market

MHVY.F Value

 Is Mitsubishi Heavy Industries undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Mitsubishi Heavy Industries to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Mitsubishi Heavy Industries.

OTCPK:MHVY.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:MHVY.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Machinery Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.052 (1 + (1- 30.86%) (60.79%))
1.331
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.33
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.331 * 5.96%)
10.66%

Discounted Cash Flow Calculation for OTCPK:MHVY.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Mitsubishi Heavy Industries is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:MHVY.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 10.66%)
2019 92,862.00 Analyst x6 83,914.34
2020 90,243.75 Analyst x4 73,690.83
2021 113,437.29 Analyst x7 83,704.79
2022 149,779.00 Analyst x2 99,871.95
2023 110,193.00 Analyst x1 66,396.44
2024 87,589.13 Est @ -20.51% 47,691.30
2025 75,729.49 Est @ -13.54% 37,260.79
2026 69,172.02 Est @ -8.66% 30,755.00
2027 65,545.79 Est @ -5.24% 26,334.69
2028 63,677.31 Est @ -2.85% 23,118.85
Present value of next 10 years cash flows ¥572,738.98
OTCPK:MHVY.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ¥63,677.31 × (1 + 2.73%) ÷ (10.66% – 2.73%)
¥824,618.11
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥824,618.11 ÷ (1 + 10.66%)10
¥299,388.03
OTCPK:MHVY.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥572,738.98 + ¥299,388.03
¥872,127.01
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥872,127.01 / 335.64
¥2598.38
OTCPK:MHVY.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:MHVY.F represents 0.00925x of TSE:7011
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00925x
Value per Share
(Listing Adjusted, USD)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 2,598.38 x 0.00925
$24.04
Value per share (USD) From above. $24.04
Current discount Discount to share price of $44.30
= -1 x ($44.30 - $24.04) / $24.04
-84.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Mitsubishi Heavy Industries is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Mitsubishi Heavy Industries's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Mitsubishi Heavy Industries's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:MHVY.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in JPY ¥301.95
TSE:7011 Share Price ** TSE (2019-05-21) in JPY ¥4789
United States of America Machinery Industry PE Ratio Median Figure of 100 Publicly-Listed Machinery Companies 20.71x
United States of America Market PE Ratio Median Figure of 3,085 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Mitsubishi Heavy Industries.

OTCPK:MHVY.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:7011 Share Price ÷ EPS (both in JPY)

= 4789 ÷ 301.95

15.86x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mitsubishi Heavy Industries is good value based on earnings compared to the US Machinery industry average.
  • Mitsubishi Heavy Industries is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Mitsubishi Heavy Industries's expected growth come at a high price?
Raw Data
OTCPK:MHVY.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.86x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
-9.7%per year
United States of America Machinery Industry PEG Ratio Median Figure of 82 Publicly-Listed Machinery Companies 1.46x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.54x

*Line of best fit is calculated by linear regression .

OTCPK:MHVY.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.86x ÷ -9.7%

-1.64x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mitsubishi Heavy Industries earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Mitsubishi Heavy Industries's assets?
Raw Data
OTCPK:MHVY.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in JPY ¥4,262.38
TSE:7011 Share Price * TSE (2019-05-21) in JPY ¥4789
United States of America Machinery Industry PB Ratio Median Figure of 128 Publicly-Listed Machinery Companies 2.34x
United States of America Market PB Ratio Median Figure of 5,201 Publicly-Listed Companies 1.84x
OTCPK:MHVY.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:7011 Share Price ÷ Book Value per Share (both in JPY)

= 4789 ÷ 4,262.38

1.12x

* Primary Listing of Mitsubishi Heavy Industries.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mitsubishi Heavy Industries is good value based on assets compared to the US Machinery industry average.
X
Value checks
We assess Mitsubishi Heavy Industries's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Machinery industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Machinery industry average (and greater than 0)? (1 check)
  5. Mitsubishi Heavy Industries has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

MHVY.F Future Performance

 How is Mitsubishi Heavy Industries expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-9.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Mitsubishi Heavy Industries expected to grow at an attractive rate?
  • Mitsubishi Heavy Industries's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Mitsubishi Heavy Industries's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Mitsubishi Heavy Industries's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:MHVY.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:MHVY.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts -9.7%
OTCPK:MHVY.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 1.2%
United States of America Machinery Industry Earnings Growth Rate Market Cap Weighted Average 10.4%
United States of America Machinery Industry Revenue Growth Rate Market Cap Weighted Average 3.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:MHVY.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:MHVY.F Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-03-31 4,217,600 286,193 41,573 2
2022-03-31 4,184,033 332,779 63,078 3
2021-03-31 4,292,646 292,317 122,434 11
2020-03-31 4,253,350 281,610 99,836 8
OTCPK:MHVY.F Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-03-31 4,078,344 404,924 101,354
2018-12-31 4,158,693 81,082
2018-09-30 4,157,399 451,665 82,446
2018-06-30 4,128,677 81,095
2018-03-31 4,110,816 345,109 70,484
2017-12-31 4,071,159 123,725
2017-09-30 3,988,976 103,423 120,202
2017-06-30 3,954,983 104,282
2017-03-31 3,914,018 95,913 87,720
2016-12-31 3,908,412 -795
2016-09-30 3,915,266 178,765 1,535
2016-06-30 3,962,617 16,180

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Mitsubishi Heavy Industries's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Mitsubishi Heavy Industries's revenue is expected to grow by 1.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:MHVY.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from Mitsubishi Heavy Industries Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:MHVY.F Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-03-31 246.87 246.87 246.87 1.00
2022-03-31 359.86 498.12 221.59 2.00
2021-03-31 371.05 431.68 297.70 11.00
2020-03-31 301.08 346.18 247.10 9.00
OTCPK:MHVY.F Past Financials Data
Date (Data in JPY Millions) EPS *
2019-03-31 301.95
2018-12-31 241.51
2018-09-30 245.52
2018-06-30 241.43
2018-03-31 209.82
2017-12-31 368.36
2017-09-30 357.91
2017-06-30 310.55
2017-03-31 261.24
2016-12-31 -2.37
2016-09-30 4.57
2016-06-30 48.20

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Mitsubishi Heavy Industries is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Mitsubishi Heavy Industries's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Mitsubishi Heavy Industries has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

MHVY.F Past Performance

  How has Mitsubishi Heavy Industries performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Mitsubishi Heavy Industries's growth in the last year to its industry (Machinery).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Mitsubishi Heavy Industries's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Mitsubishi Heavy Industries's 1-year earnings growth exceeds its 5-year average (43.8% vs -14.6%)
  • Mitsubishi Heavy Industries's earnings growth has exceeded the US Machinery industry average in the past year (43.8% vs 28.5%).
Earnings and Revenue History
Mitsubishi Heavy Industries's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Mitsubishi Heavy Industries Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:MHVY.F Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 4,078,344.00 101,354.00 541,714.00
2018-12-31 4,158,693.00 81,082.00 514,427.00 36,456.00
2018-09-30 4,157,399.00 82,446.00 505,547.00 69,703.00
2018-06-30 4,128,677.00 81,095.00 497,359.00 91,408.00
2018-03-31 4,110,816.00 70,484.00 489,881.00 114,531.00
2017-12-31 4,071,159.00 123,725.00 492,278.00 117,227.00
2017-09-30 3,988,976.00 120,202.00 483,259.00 108,049.00
2017-06-30 3,954,983.00 104,282.00 477,705.00 110,664.00
2017-03-31 3,914,018.00 87,720.00 475,847.00 106,729.00
2016-12-31 3,908,412.00 -795.00 472,850.00 99,007.00
2016-09-30 3,915,266.00 1,535.00 468,185.00 95,589.00
2016-06-30 3,962,617.00 16,180.00 468,155.00 93,297.00
2016-03-31 4,046,810.00 63,834.00 463,677.00 89,030.00
2015-12-31 4,141,442.00 92,630.00 473,075.00 83,158.00
2015-09-30 4,115,056.00 115,747.00 470,583.00 81,745.00
2015-06-30 4,063,863.00 123,411.00 458,268.00 77,749.00
2015-03-31 3,992,110.00 110,412.00 457,272.00 77,540.00
2014-12-31 3,770,204.00 153,395.00 441,959.00 73,955.00
2014-09-30 3,603,146.00 165,634.00 427,846.00 70,088.00
2014-06-30 3,461,828.00 169,304.00 411,584.00 67,733.00
2014-03-31 3,349,598.00 160,428.00 382,959.00 64,622.00
2013-12-31 3,107,249.00 125,634.00 347,830.00 63,242.00
2013-09-30 2,998,062.00 110,990.00 327,477.00 61,108.00
2013-06-30 2,916,201.00 92,104.00 316,035.00 57,984.00
2013-03-31 2,817,893.00 97,330.00 300,763.00 56,537.00
2012-12-31 2,835,313.00 41,716.00 297,630.00 51,958.00
2012-09-30 2,852,710.00 3,806.00 294,470.00 50,605.00
2012-06-30 2,856,487.00 33,780.00 288,692.00 50,113.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Mitsubishi Heavy Industries has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Mitsubishi Heavy Industries used its assets less efficiently than the US Machinery industry average last year based on Return on Assets.
  • Mitsubishi Heavy Industries's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Mitsubishi Heavy Industries's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Machinery industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Mitsubishi Heavy Industries has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

MHVY.F Health

 How is Mitsubishi Heavy Industries's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Mitsubishi Heavy Industries's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Mitsubishi Heavy Industries is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Mitsubishi Heavy Industries's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Mitsubishi Heavy Industries's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 3.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Mitsubishi Heavy Industries Company Filings, last reported 1 month ago.

OTCPK:MHVY.F Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,748,821.00 977,077.00 283,235.00
2018-12-31 1,691,563.00 1,333,149.00 231,341.00
2018-09-30 1,744,023.00 1,211,257.00 233,026.00
2018-06-30 1,709,797.00 1,231,135.00 222,987.00
2018-03-31 2,164,468.00 813,170.00 313,458.00
2017-12-31 2,181,204.00 1,215,058.00 241,514.00
2017-09-30 2,159,706.00 1,098,424.00 226,739.00
2017-06-30 2,114,074.00 1,042,641.00 221,442.00
2017-03-31 2,107,293.00 925,565.00 248,040.00
2016-12-31 2,005,432.00 1,406,704.00 244,493.00
2016-09-30 1,878,489.00 1,182,127.00 201,796.00
2016-06-30 1,882,726.00 1,094,261.00 207,087.00
2016-03-31 1,998,077.00 1,052,148.00 310,523.00
2015-12-31 2,108,503.00 1,275,744.00 353,566.00
2015-09-30 2,104,751.00 1,084,169.00 326,122.00
2015-06-30 2,161,374.00 1,012,841.00 328,860.00
2015-03-31 2,120,014.00 975,587.00 367,415.00
2014-12-31 2,006,210.00 1,155,353.00 340,045.00
2014-09-30 1,911,718.00 973,166.00 287,785.00
2014-06-30 1,828,097.00 1,008,244.00 369,949.00
2014-03-31 1,774,221.00 957,487.00 381,085.00
2013-12-31 1,584,053.00 1,177,652.00 310,689.00
2013-09-30 1,514,364.00 1,061,873.00 284,472.00
2013-06-30 1,485,256.00 964,637.00 252,111.00
2013-03-31 1,430,224.00 1,031,238.00 328,367.00
2012-12-31 1,340,070.00 1,176,834.00 261,738.00
2012-09-30 1,298,072.00 1,206,725.00 405,148.00
2012-06-30 1,311,767.00 1,197,763.00 440,976.00
  • Mitsubishi Heavy Industries's level of debt (55.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (54% vs 55.9% today).
  • Debt is well covered by operating cash flow (41.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 42.9x coverage).
X
Financial health checks
We assess Mitsubishi Heavy Industries's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Mitsubishi Heavy Industries has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

MHVY.F Dividends

 What is Mitsubishi Heavy Industries's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.71%
Current annual income from Mitsubishi Heavy Industries dividends. Estimated to be 2.97% next year.
If you bought $2,000 of Mitsubishi Heavy Industries shares you are expected to receive $54 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Mitsubishi Heavy Industries's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • Mitsubishi Heavy Industries's dividend is below the markets top 25% of dividend payers in United States of America (3.7%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:MHVY.F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
United States of America Machinery Industry Average Dividend Yield Market Cap Weighted Average of 77 Stocks 2.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2005 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:MHVY.F Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2023-03-31 130.00 1.00
2022-03-31 143.33 3.00
2021-03-31 142.50 11.00
2020-03-31 143.33 9.00
OTCPK:MHVY.F Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-02-08 130.000 2.846
2018-11-07 130.000 3.098
2018-10-31 130.000 3.127
2018-06-21 130.000 3.131
2018-05-08 130.000 3.127
2018-02-09 120.000 2.896
2018-02-06 120.000 2.898
2017-11-08 120.000 2.848
2017-10-31 120.000 2.738
2017-06-22 120.000 2.719
2017-05-09 120.000 2.713
2017-02-10 120.000 2.669
2017-02-02 120.000 2.564
2016-11-07 120.000 2.328
2016-10-31 120.000 2.756
2016-06-23 120.000 2.749
2016-05-09 120.000 2.866
2016-02-05 120.000 2.920
2016-02-04 120.000 2.816
2015-11-09 120.000 2.217
2015-10-30 120.000 1.990
2015-06-26 120.000 1.933
2015-05-08 120.000 1.581
2014-06-26 80.000 1.210
2014-05-09 100.000 1.662
2013-06-26 100.000 1.662
2013-02-08 60.000 1.032
2013-02-06 60.000 1.151
2012-11-07 60.000 1.493
2012-10-31 60.000 1.788
2012-06-21 60.000 1.821
2012-04-27 60.000 1.846
2012-02-08 60.000 1.563
2012-02-03 60.000 1.680
2011-11-04 60.000 1.813
2011-08-04 60.000 1.858
2011-06-23 60.000 1.613
2011-04-28 60.000 1.572
2011-03-03 40.000 1.108
2011-02-08 40.000 1.143
2010-11-11 40.000 1.281
2010-10-29 40.000 1.384
2010-06-24 40.000 1.288
2010-05-19 40.000 1.219
2010-04-28 40.000 1.138
2010-02-12 40.000 1.112
2010-02-04 40.000 1.263
2009-11-12 40.000 1.255
2009-10-30 40.000 1.265
2009-06-01 60.000 1.649

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Mitsubishi Heavy Industries's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.4x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Mitsubishi Heavy Industries's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Mitsubishi Heavy Industries afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Mitsubishi Heavy Industries has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MHVY.F Management

 What is the CEO of Mitsubishi Heavy Industries's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Seiji Izumisawa
AGE 61
TENURE AS CEO 0.1 years
CEO Bio

Mr. Seiji Izumisawa has been President and Chief Executive Officer of Mitsubishi Heavy Industries Ltd., since April 1, 2019 and its Chief Strategy Officer since June 2018. Mr. Izumisawa served as Executive Vice President and Chief Head of Business Strategy Officer at Mitsubishi Heavy Industries Ltd., from June 2018 to April 1, 2019. Mr. Izumisawa served as Senior Vice President and Senior General Manager of Technology Strategy Office at Mitsubishi Heavy Industries Ltd., since April 2016 until June 26, 2017. Mr. Izumisawa served as the Head Officer of Quality Affairs Group Headquarters and Director at Mitsubishi Motors Corporation from June 2013 to April 2016 and served as its Senior Executive Officer since April 2013. Mr. Izumisawa has been a Director of Mitsubishi Heavy Industries, Ltd. since June 26, 2017. He joined Mitsubishi Heavy Industries, Ltd. in April 1981 and held various positions that include as Senior General Manager of Technology Management Department of Technical Headquarters since April 2008 and Senior General Manager of Technology Management Department of Technology & Innovation Headquarters since April 2011.

CEO Compensation
  • Insufficient data for Seiji to compare compensation growth.
  • Insufficient data for Seiji to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Mitsubishi Heavy Industries management team in years:

0.7
Average Tenure
63
Average Age
  • The average tenure for the Mitsubishi Heavy Industries management team is less than 2 years, this suggests a new team.
Management Team

Hideaki Omiya

TITLE
Senior Executive Adviser & Director
COMPENSATION
¥157M
AGE
72
TENURE
0.3 yrs

Seiji Izumisawa

TITLE
President
AGE
61
TENURE
0.1 yrs

Masanori Koguchi

TITLE
Senior EVP
AGE
63
TENURE
3.9 yrs

Michisuke Nayama

TITLE
Senior EVP & Chief Technology Officer
AGE
63
TENURE
4.1 yrs

Masahiko Mishima

TITLE
Executive VP & General Counsel
TENURE
0.7 yrs

Hideaki Yanai

TITLE
Executive VP & In charge of Human Resources

Hisakazu Mizutani

TITLE
EVP, CEO of Integrated Defense & Space Systems & President of Integrated Defense & Space Systems
COMPENSATION
¥104M
AGE
67
TENURE
6.1 yrs

Shigehisa Kobayashi

TITLE
Senior VP & President of Mitsubishi Heavy Industries Engineering

Yoshihiro Shiraiwa

TITLE
Senior VP and Assistant to President & CEO
TENURE
0.3 yrs

Hisayuki Fujihara

TITLE
Senior VP and Vice President of Industry & Infrastructure
Board of Directors Tenure

Average tenure and age of the Mitsubishi Heavy Industries board of directors in years:

3.9
Average Tenure
66.5
Average Age
  • The tenure for the Mitsubishi Heavy Industries board of directors is about average.
Board of Directors

Shunichi Miyanaga

TITLE
Chairman of the Board
COMPENSATION
¥157M
AGE
70
TENURE
0.1 yrs

Hideaki Omiya

TITLE
Senior Executive Adviser & Director
COMPENSATION
¥157M
AGE
72
TENURE
16.9 yrs

Seiji Izumisawa

TITLE
President
AGE
61
TENURE
1.9 yrs

Masanori Koguchi

TITLE
Senior EVP
AGE
63
TENURE
3.9 yrs

Nobuo Kuroyanagi

TITLE
Outside Director and Audit & Supervisory Committee Member
AGE
77

Christina Ahmadjian

TITLE
Outside Director and Audit & Supervisory Committee Member
AGE
59
TENURE
6.9 yrs

Shinichiro Ito

TITLE
Outside Director and Audit & Supervisory Committee Member
AGE
68

Hiroki Kato

TITLE
Outside Director and Full-time Audit & Supervisory Committee Member
AGE
63

Naoyuki Shinohara

TITLE
Outside Director
AGE
65

Ken Kobayashi

TITLE
Outside Director
AGE
69
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Mitsubishi Heavy Industries's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Mitsubishi Heavy Industries has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

MHVY.F News

Simply Wall St News

MHVY.F Company Info

Description

Mitsubishi Heavy Industries, Ltd. manufactures and sells heavy machinery worldwide. It operates through Power Systems; Industry & Infrastructure; and Aircraft, Defense & Space segments. The company provides construction and after-sales services for various power generation facilities, including thermal, nuclear, and wind power plants; aircraft products, such as commercial aircraft and aero engines; and space systems, such as a H-IIA rocket, as well as products related to international space station programs. It also develops and manufactures products related to shipbuilding and ocean development, such as tankers, cargo ships, passenger ships, and marine engines; high-speed rails, monorails, traffic management systems, electronic road pricing system electronic toll collection systems; material handling systems, such as forklift trucks; and a range of products related to environmental plants and equipment to prevent global warming and pollution. In addition, the company offers automotive-related components, including air-conditioners, turbochargers, car collision simulators, and machine tools; industrial equipment for chemical plants, printing presses for newspapers and magazines, and medical equipment for radiotherapy, as well as air-conditioning and refrigeration systems; and construction machineries, as well as the vibration and isolation systems, tunnels excavation machineries, water pipes, and water discharge facilities. Further, it provides living and leisure products, such as cruise ships; and equipment in various areas of national defense, including land, naval, and air defense. Mitsubishi Heavy Industries, Ltd. was founded in 1884 and is headquartered in Tokyo, Japan.

Details
Name: Mitsubishi Heavy Industries, Ltd.
MHVY.F
Exchange: OTCPK
Founded: 1884
¥14,566,944,103
335,641,981
Website: http://www.mhi.com/jp
Address: Mitsubishi Heavy Industries, Ltd.
2-16-5,
Konan,
Tokyo,
108-8215,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 7011 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
OTCPK MHVY.F Common Stock Pink Sheets LLC US USD 06. Jan 1992
DB MIH Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
Number of employees
Current staff
Staff numbers
80,652
Mitsubishi Heavy Industries employees.
Industry
Industrial Machinery
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 04:32
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2019/05/14
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.