Yamaha Motor has a structure where its marine business, which accounts for only 20% of sales, boasts a higher profit margin than its main land mobility business. In August 2026, the stock price rose over 30% in one month. In fiscal year ending December 2025, total revenue was 2.5342 trillion yen, with the marine business contributing 527.6 billion yen (20.8% of total), but its operating margin was 10.2%, surpassing the land mobility business's 6.7%. On the other hand, the outdoor land vehicle business posted an operating loss of 39.8 billion yen on sales of 148.5 billion yen, dragging down consolidated profits. The stock price rose from 1,333 yen on August 3, 2026, to 1,973 yen on August 24, and closed at 1,907 yen on August 27. The latest P/E ratio is 10.88 times, and P/B ratio is 1.48 times. The full-year operating profit forecast has been raised to 260 billion yen, and net profit forecast to 170 billion yen.
Yamaha Motor Co., Ltd.Marine business shows higher profit margin and stock surged; full-year forecasts raised.
