Honda Atlas Cars (Pakistan) Limited (HCAR) financial ratios

Honda Atlas Cars (Pakistan) Limited earned a net margin of 2.6% in FY2026 against a five-year average of 2.6% (Automobile Assembler median 8.8%). Return on equity was 13.2%, compared with a sector median of 36.2%. The current ratio stood at 1.60× and debt was 28.4% of equity. Cash took about 118 days to cycle through receivables, inventory and payables.

FY2026 vs the Automobile Assembler median

Gross margin: 7.8%; Sector median 19.4%
Operating margin: 5.7%; Sector median 12.7%
Net margin: 2.6%; Sector median 8.8%
Return on equity (ROE): 13.2%; Sector median 36.2%
Return on assets (ROA): 6.0%; Sector median 16.2%
Current ratio: 1.60×; Sector median 1.61×
Debt to equity: 28.4%; Sector median 2.9%
Asset turnover: 2.26×; Sector median 1.51×
Dividend payout ratio: 39.7%; Sector median 17.9%

Median of the 10 companies in the sector with the figure for their latest fiscal year.

HCAR financial ratios (annual) (Rs mn)
Rs mn	FY2026 Apr 2025 – Mar 2026	FY2025 Apr 2024 – Mar 2025	FY2024 Apr 2023 – Mar 2024	FY2023 Apr 2022 – Mar 2023	FY2022 Apr 2021 – Mar 2022	FY2021 Apr 2020 – Mar 2021	FY2020 Apr 2019 – Mar 2020	FY2019 Apr 2018 – Mar 2019	FY2018 Apr 2017 – Mar 2018	FY2017 Apr 2016 – Mar 2017	FY2016 Apr 2015 – Mar 2016	FY2015 Apr 2014 – Mar 2015	FY2014 Apr 2013 – Mar 2014	FY2013 Apr 2012 – Mar 2013	FY2012 Apr 2011 – Mar 2012	FY2011 Apr 2010 – Mar 2011	FY2010 * Apr 2009 – Mar 2010	FY2009 * Apr 2008 – Mar 2009	FY2008 Apr 2007 – Mar 2008	FY2007 Apr 2006 – Mar 2007
Profitability
Gross margin	7.8%	8.5%	8.1%	7.5%	5.1%	5.6%	7.4%	7.7%	11.4%	14.5%	15.1%	12.6%	7.3%	4.7%	(0.3%)	0.9%	(1.5%)	1.1%	4.3%	0.8%
EBITDA margin	7.0%	7.4%	7.6%	6.8%	4.0%	5.0%	7.3%	6.8%	13.3%	15.4%	14.4%	12.3%	7.8%	5.8%	2.1%	2.7%	2.1%	3.7%	5.9%	3.1%
Operating margin	5.7%	5.3%	4.4%	5.0%	3.0%	3.8%	5.5%	5.8%	12.4%	14.5%	13.2%	10.5%	6.0%	3.9%	(1.9%)	(0.4%)	(3.1%)	(0.3%)	2.0%	0.2%
Pre-tax margin	4.2%	4.2%	5.0%	2.1%	4.0%	4.1%	2.8%	5.9%	10.4%	13.8%	12.9%	10.0%	5.4%	1.7%	(3.0%)	(1.1%)	(6.2%)	(4.4%)	0.4%	(2.8%)
Net margin	2.6%	3.5%	4.2%	0.3%	2.3%	2.7%	1.2%	4.0%	7.1%	9.8%	8.9%	8.4%	2.7%	0.8%	(3.2%)	(1.4%)	(4.5%)	(1.2%)	0.5%	(0.0%)
Effective tax rate	36.4%	17.3%	15.2%	86.9%	41.3%	35.5%	55.9%	31.2%	31.5%	29.0%	31.3%	16.1%	48.8%	53.5%	—	—	—	—	(17.9%)	—
Returns
Return on equity (ROE)	13.2%	12.0%	11.4%	1.3%	13.2%	10.3%	4.0%	22.2%	43.1%	58.4%	54.5%	84.2%	57.2%	19.6%	(37.9%)	(16.3%)	(29.8%)	(5.6%)	2.6%	(0.3%)
Return on assets (ROA)	6.0%	5.5%	4.1%	0.4%	4.3%	4.7%	2.1%	8.5%	11.8%	18.1%	23.6%	24.1%	7.8%	2.0%	(5.3%)	(3.1%)	(7.6%)	(2.0%)	1.0%	(0.1%)
Return on invested capital (ROIC)	11.4%	9.9%	8.7%	0.8%	10.5%	9.4%	5.2%	22.2%	43.1%	58.4%	54.5%	84.2%	57.2%	18.4%	—	—	—	—	8.0%	—
Liquidity
Current ratio	1.60×	1.77×	1.67×	1.32×	1.29×	1.55×	1.80×	1.88×	1.29×	1.22×	1.53×	1.21×	0.89×	0.77×	0.56×	0.67×	0.62×	0.70×	0.79×	0.94×
Quick ratio	0.69×	1.09×	0.81×	0.99×	0.79×	1.05×	1.02×	1.25×	1.09×	1.04×	1.02×	0.56×	0.49×	0.45×	0.20×	0.25×	0.19×	0.16×	0.24×	0.24×
Leverage
Debt to equity	28.4%	22.1%	43.4%	95.0%	38.7%	12.6%	14.1%	0.0%	—	—	—	0.0%	0.0%	0.0%	14.8%	49.7%	75.9%	129.1%	15.5%	104.1%
Debt to capital	22.1%	18.1%	30.3%	48.7%	27.9%	11.2%	12.3%	0.0%	—	—	—	0.0%	0.0%	0.0%	12.9%	33.2%	43.2%	56.4%	13.4%	51.0%
Debt to assets	12.2%	10.5%	18.9%	29.2%	11.0%	5.1%	7.3%	0.0%	—	—	—	0.0%	0.0%	0.0%	1.8%	7.9%	16.8%	36.7%	7.3%	30.6%
Assets to equity	2.21×	2.19×	2.75×	3.39×	3.02×	2.22×	1.87×	2.62×	3.66×	3.22×	2.31×	3.49×	7.31×	9.88×	7.15×	5.34×	3.93×	2.77×	2.67×	3.40×
Efficiency
Asset turnover	2.26×	1.58×	0.98×	1.43×	1.87×	1.75×	1.72×	2.09×	1.66×	1.86×	2.66×	2.88×	2.85×	2.46×	1.65×	2.26×	1.68×	1.69×	1.95×	1.95×
Receivable days days	53	78	124	68	39	48	64	44	42	26	8	17	19	21	28	16	20	11	—	—
Inventory days days	71	92	121	75	62	67	73	36	34	37	53	53	42	47	72	50	63	62	58	75
Payable days days	6	6	7	7	11	24	32	22	30	35	42	58	70	102	152	74	41	48	82	78
Cash conversion cycle days	118	164	238	136	90	91	105	58	46	29	19	12	(9)	(35)	(53)	(7)	42	25	(24)	(3)
Dividends
Dividend payout ratio	39.7%	42.2%	39.8%	0.0%	39.8%	36.0%	20.9%	45.1%	59.2%	30.3%	28.1%	22.6%	39.9%	17.5%	—	—	—	—	0.0%	—
Earnings retention rate	0.60×	0.58×	0.60×	1.00×	0.60×	0.64×	0.79×	0.55×	0.41×	0.70×	0.72×	0.77×	0.60×	0.82×	—	—	—	—	1.00×	—

Ratios as reported for each fiscal year; returns are on average equity / assets. Debt ratios are percentages; turnover in times; working-capital measures in days.

HCAR: frequently asked questions

What is HCAR's EPS?

Honda Atlas Cars (Pakistan) Limited reported basic earnings per share of Rs 22.64 for FY2026 (Apr 2025 – Mar 2026). Over the trailing twelve months (TTM to Jun 2026) EPS was Rs 34.25.

What is HCAR's P/E ratio?

At the closing price of Rs 201.80 on 16 Oct 2026, HCAR trades at a P/E of 5.9× based on EPS of Rs 34.25 (TTM to Jun 2026).

Does HCAR pay dividends?

Yes. Honda Atlas Cars (Pakistan) Limited declared a dividend of Rs 9.00 per share for FY2026. It has paid a dividend in each of the last 3 years. At Rs 201.80 that is a dividend yield of 4.5%.

What was HCAR's revenue and profit in FY2026?

Honda Atlas Cars (Pakistan) Limited reported revenue of Rs 122.3 bn and profit attributable to shareholders of Rs 3.2 bn for FY2026 (Apr 2025 – Mar 2026).

What is HCAR's book value per share?

Honda Atlas Cars (Pakistan) Limited's book value per share was Rs 178.14 at the end of FY2026. The shares trade at 1.08× book value.

Information only, not investment advice.