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Yamaha Motor Co.

YMHAY
51
Auto - Manufacturers · Consumer Cyclical
Price
$24.22
-0.18 (-0.74%)
Market Cap
$11.75B
Exchange
Other OTC
Winston Score
51
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Sep 5, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
Growth
Good
Cash Flow
Strong
Stability
Strong
Valuation
Good
Dividends
Mixed
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Share count falling — buybacks

−7.2% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 523.6M (2021) → 485.8M (2025)

§Winston Score History

The full picture

Yamaha Motor makes motorcycles, scooters, outboard boat engines, ATVs, snowmobiles, and other motorized products. It also manufactures industrial robots and electric wheelchairs. The company is one of the world's largest motorcycle manufacturers and a leading global producer of outboard motors.

Yamaha Motor earns revenue by selling vehicles, marine products, and industrial equipment through dealers and distributors worldwide. Headquartered in Japan, it operates in over 30 countries, with strong sales across Asia, Europe, and North America. Its well-known brand, broad product lineup, and global dealer network give it a solid competitive position. Growth depends on expanding motorcycle demand in emerging markets and its push into electric mobility, though currency fluctuations and economic slowdowns in key regions remain ongoing risks.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+19.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+228.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

¥0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

9.4%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

¥937.4B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Yamaha Motor Co. is a rare growth stock that's already generating positive cash flow while growing at 20%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
33.5%
Modest — 33.5% gross margin
Profit after running costs
Operating Margin
11.5%
Modest — 11.5% operating margin
Return on the money invested
ROCE
7.7%
Weak — 7.7% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+12.3%
Fast-growing sales (+12.3% YoY)
Profit growth
EPS YoY
+67.5%
Earnings growing fast (+67.5% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
332%
Turns 332% of profit into real cash
Spare cash per sale
FCF Margin
4.8%
Thin free cash flow (4.8%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.82
Moderate — manageable debt (0.82)
Covers its interest
Interest Cover
15.50x
Comfortably covers interest (15.5x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
23.8x
Growth-priced — P/E 23.8

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year
P/E vs Forward
+2.9
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend
Dividend Yield
2.65%
Moderate income — 2.65% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
-8.3%
Dividend cut (-8.3% YoY) — warning sign

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