HMC vs LI: Honda Motor Co Ltd ADR and Li Auto compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Honda Motor Co Ltd ADR is the larger company, worth $44.5B, about 4.7 times Li Auto.
- Honda Motor Co Ltd ADR grew revenue faster over the last year (+6.2% vs -22.2%).
- Honda Motor Co Ltd ADR keeps more of each dollar of revenue as operating profit (5.6% vs -0.5%).
- On earnings, Honda Motor Co Ltd ADR is the cheaper stock (13.8x vs 58.3x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | HMC | LI |
|---|---|---|
| Market cap | $44.5B | $9.5B |
| Share price | $32.70 | $11.54 |
| Revenue (last fiscal year) | $21.69T | $112.3B |
| Free cash flow (last fiscal year) | -$555.3B | -$12.8B |
| Revenue growth, last year | +6.2% | -22.2% |
| Revenue growth per year, last 5 fiscal years | +13.3% | +42.8% |
| Operating margin | 5.6% | -0.46% |
| Net margin | 3.9% | 1.0% |
| Return on equity | 8.0% | 2.5% |
| P/E (trailing) | 13.8x | 58.3x |
| Price / free cash flow | — | — |
| EV / EBITDA | 2.61x | 4.39x |
| FCF growth the price implies | — | — |
| Dividend yield | 4.2% | — |
| Debt / equity | 1.26x | 0.92x |
| Fundamental grade | D | D |
| Superinvestors holding it | 3 | 0 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Honda Motor Co Ltd ADR
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $13.17T | $521.2B | 5.0% |
| 2022 | $14.55T | $1.23T | 6.0% |
| 2023 | $16.91T | $1.50T | 4.6% |
| 2024 | $20.43T | $138.6B | 6.8% |
| 2025 | $21.69T | -$555.3B | 5.6% |
Li Auto
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $27.0B | $4.9B | -3.8% |
| 2022 | $45.3B | $2.3B | -8.1% |
| 2023 | $123.9B | $44.2B | 6.0% |
| 2024 | $144.5B | $8.2B | 4.9% |
| 2025 | $112.3B | -$12.8B | -0.46% |
Where the revenue comes from
Honda Motor Co Ltd ADR · by segments, 2026
Automobile business$14.17T64%
Motorcycle business$4.02T18%
Financial services business$3.53T16%
Power products and other businesses$420.4B2%
Li Auto · by products, 2025
Vehicle sales$106.7B95%
Services$5.6B5%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open HMC in InvestinglyQuestions
Which is bigger, Honda Motor Co Ltd ADR or Li Auto?
Honda Motor Co Ltd ADR (HMC), at $44.5B against $9.5B.
Is HMC or LI cheaper?
By trailing P/E, Honda Motor Co Ltd ADR (13.8x) is cheaper than Li Auto (58.3x). A lower multiple can also mean the market expects less growth.
Which grows faster, HMC or LI?
Honda Motor Co Ltd ADR: revenue grew +6.2% over the last year, against -22.2%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.