WBAG:MAT1

Stock Analysis Report

Executive Summary

Panasonic Corporation, together with its subsidiaries, develops, produces, sells, and services electrical and electronic products under the Panasonic brand name worldwide.

Snowflake

Fundamentals

Good value with proven track record.


Similar Companies

Share Price & News

How has Panasonic's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MAT1 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.02%

MAT1

1.7%

AT Consumer Durables

0.4%

AT Market


1 Year Return

-3.4%

MAT1

5.7%

AT Consumer Durables

2.1%

AT Market

Return vs Industry: MAT1 underperformed the Austrian Consumer Durables industry which returned 5.7% over the past year.

Return vs Market: MAT1 underperformed the Austrian Market which returned 2.1% over the past year.


Shareholder returns

MAT1IndustryMarket
7 Day0.02%1.7%0.4%
30 Day13.5%1.7%5.2%
90 Day23.6%10.8%8.5%
1 Year-0.2%-3.4%12.7%5.7%5.8%2.1%
3 Yearn/a37.3%18.8%46.4%33.2%
5 Yearn/a85.2%47.2%69.3%45.5%

Price Volatility Vs. Market

How volatile is Panasonic's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Panasonic undervalued compared to its fair value and its price relative to the market?

17.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MAT1 (€8.51) is trading below our estimate of fair value (€10.26)

Significantly Below Fair Value: MAT1 is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: MAT1 is good value based on its PE Ratio (8.7x) compared to the Consumer Durables industry average (11.9x).

PE vs Market: MAT1 is good value based on its PE Ratio (8.7x) compared to the Austrian market (14.5x).


Price to Earnings Growth Ratio

PEG Ratio: MAT1 is poor value based on its PEG Ratio (1.8x)


Price to Book Ratio

PB vs Industry: MAT1 is good value based on its PB Ratio (1.3x) compared to the XE Consumer Durables industry average (1.4x).


Next Steps

Future Growth

How is Panasonic forecast to perform in the next 1 to 3 years based on estimates from 17 analysts?

4.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MAT1's forecast earnings growth (4.8% per year) is above the savings rate (0.5%).

Earnings vs Market: MAT1's earnings (4.8% per year) are forecast to grow slower than the Austrian market (8.7% per year).

High Growth Earnings: MAT1's earnings are forecast to grow, but not significantly.

Revenue vs Market: MAT1's revenue (0.5% per year) is forecast to grow slower than the Austrian market (2.8% per year).

High Growth Revenue: MAT1's revenue (0.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MAT1's Return on Equity is forecast to be low in 3 years time (9.8%).


Next Steps

Past Performance

How has Panasonic performed over the past 5 years?

16.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MAT1 has large one-off items impacting its financial results.

Growing Profit Margin: MAT1's current net profit margins (3.5%) are higher than last year (2.8%).


Past Earnings Growth Analysis

Earnings Trend: MAT1's earnings have grown by 16.1% per year over the past 5 years.

Accelerating Growth: MAT1's earnings growth over the past year (17.6%) exceeds its 5-year average (16.1% per year).

Earnings vs Industry: MAT1 earnings growth over the past year (17.6%) exceeded the Consumer Durables industry 1.6%.


Return on Equity

High ROE: MAT1's Return on Equity (14.3%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Panasonic's financial position?


Financial Position Analysis

Short Term Liabilities: MAT1's short term assets (¥3,540.5B) exceeds its short term liabilities (¥2,902.5B)

Long Term Liabilities: MAT1's short term assets (3,540.5B) exceeds its long term liabilities (1,698.3B)


Debt to Equity History and Analysis

Debt Level: MAT1's debt to equity ratio (56.2%) is considered high

Reducing Debt: MAT1's debt to equity ratio has increased from 34.4% to 56.2% over the past 5 years.

Debt Coverage: MAT1's debt is well covered by operating cash flow (27.7%).

Interest Coverage: MAT1 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: MAT1 has a high level of physical assets or inventory.

Debt Coverage by Assets: MAT1's debt is covered by short term assets (assets are 3.1x debt).


Next Steps

Dividend

What is Panasonic's current dividend yield, its reliability and sustainability?

2.95%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Panasonic before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company3.0%marketbottom25%1.7%markettop25%4.2%industryaverage5.0%forecastin3Years3.1%

Current dividend yield vs market & industry

Notable Dividend: MAT1's dividend (2.95%) is higher than the bottom 25% of dividend payers in the Austrian market (1.69%).

High Dividend: MAT1's dividend (2.95%) is low compared to the top 25% of dividend payers in the Austrian market (4.18%).


Stability and Growth of Payments

Stable Dividend: MAT1's dividend payments have been volatile in the past 10 years.

Growing Dividend: MAT1's dividend payments have not increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (25.8%), MAT1's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Panasonic's salary, the management and board of directors tenure and is there insider trading?

2.4yrs

Average management tenure


CEO

Kazuhiro Tsuga (63yo)

2.4yrs

Tenure

JP¥255,000,000

Compensation

Mr. Kazuhiro Tsuga has been the President and Chief Executive Officer at Panasonic Corporation since June 27, 2012 and June 2017 respectively. Mr. Tsuga served as the President of AVC Networks Company sinc ...


CEO Compensation Analysis

Compensation vs Market: Kazuhiro's total compensation ($USD2.34M) is below average for companies of similar size in the Austrian market ($USD3.51M).

Compensation vs Earnings: Kazuhiro's compensation has been consistent with company performance over the past year.


Management Age and Tenure

2.4yrs

Average Tenure

62yo

Average Age

Experienced Management: MAT1's management team is considered experienced (2.4 years average tenure).


Board Age and Tenure

2.9yrs

Average Tenure

63yo

Average Age

Experienced Board: MAT1's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Kazuhiro Tsuga (63yo)

    CEO, President & Representative Director

    • Tenure: 2.4yrs
    • Compensation: JP¥255.00m
  • Yasuyuki Higuchi (62yo)

    Senior Managing Executive Officer & Representative Director

    • Tenure: 2.3yrs
    • Compensation: JP¥151.00m
  • Hirokazu Umeda (57yo)

    CFO, Managing Executive Officer & Director

    • Tenure: 2.3yrs
  • Yoshiyuki Miyabe (62yo)

    Senior Managing Executive Officer

    • Tenure: 2.3yrs
    • Compensation: JP¥114.00m
  • Mototsugu Sato (63yo)

    Executive VP

    • Tenure: 5.4yrs
    • Compensation: JP¥141.00m
  • Masahito Yamamura

    General Manager of Investor Relations

    • Tenure: 0yrs
  • Kazuhiro Matsushita

    General Manager of Planning and Administration Department

    • Tenure: 0yrs
  • Tom Korte

    Senior Vice President of Operations

    • Tenure: 0yrs
  • Hiroshi Sakakibara

    Chief Digital Officer & Chief Information Officer

    • Tenure: 0.9yrs
  • Sumitaka Yoshitomi

    General Manager of Accounting & Business Performance Management Office

    • Tenure: 0yrs

Board Members

  • Kazuhiko Toyama (59yo)

    Independent Outside Director

    • Tenure: 3.4yrs
  • Kazuhiro Tsuga (63yo)

    CEO, President & Representative Director

    • Tenure: 2.4yrs
    • Compensation: JP¥255.00m
  • Yasuyuki Higuchi (62yo)

    Senior Managing Executive Officer & Representative Director

    • Tenure: 2.3yrs
    • Compensation: JP¥151.00m
  • Yoshinobu Tsutsui (65yo)

    Independent Outside Director

    • Tenure: 4.4yrs
  • Hirokazu Umeda (57yo)

    CFO, Managing Executive Officer & Director

    • Tenure: 2.3yrs
  • Shusaku Nagae (69yo)

    Chairman of the Board

    • Tenure: 6.4yrs
    • Compensation: JP¥118.00m
  • Mototsugu Sato (63yo)

    Executive VP

    • Tenure: 5.4yrs
    • Compensation: JP¥141.00m
  • Hiroko Ota (65yo)

    Independent Outside Director

    • Tenure: 6.4yrs
  • Tetsuro Homma (58yo)

    Senior Managing Executive Officer & Representative Director

    • Tenure: 0.8yrs
    • Compensation: JP¥118.00m
  • Laurence W. Bates

    General Counsel

    • Tenure: 1.4yrs

Company Information

Panasonic Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Panasonic Corporation
  • Ticker: MAT1
  • Exchange: WBAG
  • Founded: 1918
  • Industry: Consumer Electronics
  • Sector: Consumer Durables
  • Market Cap: JP¥2.371t
  • Listing Market Cap: JP¥19.808b
  • Shares outstanding: 2.33b
  • Website: https://www.panasonic.com/jp/top.html

Number of Employees


Location

  • Panasonic Corporation
  • 1006, Oaza Kadoma
  • Kadoma
  • Osaka
  • 571-8501
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PCRF.YOTCPK (Pink Sheets LLC)ADR-EACH CNV INTO 1 ORD NPVUSUSDJan 1972
MATADB (Deutsche Boerse AG)ADR-EACH CNV INTO 1 ORD NPVDEEURJan 1972
6752TSE (The Tokyo Stock Exchange)YesCommon StockJPJPYJan 1992
PCRF.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJan 1992
MAT1DB (Deutsche Boerse AG)YesCommon StockDEEURJan 1992
MAT1WBAG (Wiener Boerse AG)YesCommon StockATEURJan 1992

Biography

Panasonic Corporation, together with its subsidiaries, develops, produces, sells, and services electrical and electronic products under the Panasonic brand name worldwide. It operates through Appliances, E ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/13 22:12
End of Day Share Price2019/11/13 00:00
Earnings2019/09/30
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.