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MFG

Mizuho Financial Group, Inc.

MFG

Mizuho Financial Group, Inc. • NYSE
$7.09 ▲ 3.28% (+0.23)
Market Cap $88.98 B
52w High $7.12
52w Low $4.04
Dividend Yield 0.20%
P/E 13.9
Volume 1.23M
Outstanding Shares 12.55B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $2.148T ▲ $531.684B ▲ $399.426B ▲ 18.592% ▲ $32.09 ▲ $520.121B ▲
Q1-2026 $2.011T ▲ $523.036B ▼ $290.521B ▲ 14.444% ▲ $23.1 ▲ $378.595B ▲
Q4-2025 $1.937T ▼ $887.971B ▲ $30.059B ▼ 1.552% ▼ $2.39 ▼ $22.847B ▼
Q3-2025 $2.395T ▲ $612.67B ▲ $289.233B ▲ 12.079% ▼ $22.82 ▲ $376.079B ▼
Q2-2025 $2.118T $566.815B $276.841B 13.073% $21.85 $393.772B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $67.288T ▲ $288.757T ▲ $277.681T ▲ $10.996T ▲
Q1-2026 $64.771T ▼ $278.65T ▼ $268.031T ▼ $10.541T ▲
Q4-2025 $122.831T ▲ $283.32T ▼ $272.797T ▼ $10.442T ▼
Q3-2025 $64.766T ▼ $285.391T ▲ $274.808T ▲ $10.502T ▼
Q2-2025 $71.621T $277.355T $266.594T $10.682T

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $399.426B ▲ $0 $0 $0 $0 $0
Q1-2026 $290.521B ▲ $0 $0 $0 $0 $0
Q4-2025 $30.059B ▼ $0 $0 $0 $0 $0
Q3-2025 $289.233B ▲ $0 $0 $0 $0 $0
Q2-2025 $276.841B $0 $0 $0 $0 $0

Revenue by Products

Product Q2-2021Q4-2021Q2-2022Q4-2022
Agency business
Agency business
 $15.06Bn ▲$16.27Bn ▲$18.57Bn ▲$18.33Bn ▼
Correspondent Clearing
Correspondent Clearing
 $54.78Bn ▲$54.33Bn ▼$54.58Bn ▲$49.40Bn ▼
Fiduciary and Trust
Fiduciary and Trust
 $54.42Bn ▲$67.79Bn ▲$66.39Bn ▼$74.97Bn ▲
Financial Service
Financial Service
 $428.32Bn ▲$484.37Bn ▲$474.92Bn ▼$505.08Bn ▲
Financial Service Other
Financial Service Other
 $77.07Bn ▲$92.24Bn ▲$82.99Bn ▼$95.13Bn ▲
Guarantee related business
Guarantee related business
 $15.56Bn ▲$16.11Bn ▲$16.78Bn ▲$18.52Bn ▲
Investment Advisory Management and Administrative Service
Investment Advisory Management and Administrative Service
 $45.95Bn ▲$58.80Bn ▲$60.60Bn ▲$61.42Bn ▲
Securities related business
Securities related business
 $78.44Bn ▲$91.78Bn ▲$89.39Bn ▼$94.63Bn ▲
Deposits Related Business
Deposits Related Business
 $7.41Bn ▲$0 ▼$7.57Bn ▲$0 ▼
Lending Related Business
Lending Related Business
 $79.62Bn ▲$0 ▼$78.05Bn ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Mizuho’s profitability trend looks solid. Over the last several years, earnings have moved steadily higher, with net profit per share climbing each year. Revenue has been a bit more uneven, with one especially strong year followed by some normalization, but operating profit has generally improved, suggesting better cost control and more efficient use of its balance sheet. Overall, the income statement shows a large, mature bank that is gradually becoming more profitable rather than one relying on one‑off windfalls.

Balance Sheet

Balance Sheet The balance sheet shows a very large, systemically important bank with steadily expanding assets and a sizable liquidity cushion. Cash and equivalents are high and have grown over time, which is reassuring for a financial institution. At the same time, reported debt has jumped more recently, indicating greater reliance on borrowed funding and higher leverage, which is typical for big banks but still a point to watch. Equity has inched up rather than surged, implying that capital is being built gradually rather than aggressively. In short, the balance sheet looks large and liquid, but with rising balance‑sheet intensity that needs careful risk management.

Cash Flow

Cash Flow Cash generation has historically been strong, with prior years showing healthy inflows from operations and solid free cash flow after modest investment spending. The most recent year, however, shows a notable swing to cash outflows from operations and free cash flow, which can reflect shifts in loans, deposits, and other working capital items for a bank. Capital spending remains small and stable, so the volatility is more about balance‑sheet movements than big investment projects. This pattern is not unusual in banking but does mean cash flow needs to be assessed over several years rather than focusing on a single period.

Competitive Edge

Competitive Edge Mizuho holds a powerful position in Japan, with a very broad retail customer base and deep relationships with a large share of listed companies. Its nationwide branch network and “one‑stop” model—integrating banking, trust, and securities services—give it strong cross‑selling potential and make it a key partner for corporate and institutional clients. Internationally, it has a meaningful presence across many countries and is a significant player in Asian corporate and investment banking, particularly in debt capital markets. On the other hand, it faces intense competition from other Japanese megabanks, global banks, and fintechs, as well as the structural challenges of a low‑growth, low‑rate home market.

Innovation and R&D

Innovation and R&D The group is investing heavily in digital transformation and new technology, with a clear, large-scale commitment to upgrading systems, moving to the cloud, and using data and AI to personalize services. Its partnership with Google Cloud is central to this push, aiming to modernize core IT (through the MINORI system), improve security, and speed up product development. Mizuho is also experimenting with blockchain, embedded finance (such as its “House Coin” digital money), smart-city and local government digital projects, and exploration of metaverse and Web3 applications. Alongside this, it is positioning itself as a leader in sustainable finance, with ambitious green and ESG financing targets. The main execution risk is whether these initiatives can be delivered smoothly given the bank’s size and legacy systems.

Summary

Overall, Mizuho Financial Group looks like a large, gradually improving megabank: earnings have trended upward, the balance sheet is big and liquid, and historical cash generation has been strong despite natural swings in banking cash flows. Its core strengths lie in its entrenched Japanese franchise, integrated service model, and growing global corporate and investment banking capabilities. The bank is clearly leaning into digital transformation and sustainable finance, which could support future efficiency and growth if executed well. Key areas to monitor include the impact of higher leverage, credit and interest-rate risk in a changing rate environment, execution on complex IT modernization, competition from both domestic peers and new digital players, and the sustainability of its recent profitability gains.

NEWS

October 21, 2025 · 8:48 AM UTC

Mizuho Announces Global Fixed Income Leadership Appointments

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September 25, 2025 · 8:30 AM UTC

Mizuho Joins Versana to Expand the Digital Transformation of the Broadly Syndicated Loan Market

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September 17, 2025 · 12:00 AM UTC

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