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Canon

WBAG:CNN1
Snowflake Description

Excellent balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CNN1
WBAG
¥3,423B
Market Cap
  1. Home
  2. AT
  3. Tech
Company description

Canon Inc. manufactures and sells office multifunction devices (MFDs), plain paper copying machines, laser and inkjet printers, cameras, diagnostic equipment, and lithography equipment. The last earnings update was 23 days ago. More info.


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CNN1 Share Price and Events
7 Day Returns
-0.5%
WBAG:CNN1
2.3%
Europe Tech
2.1%
AT Market
1 Year Returns
-
WBAG:CNN1
-1.9%
Europe Tech
-2.7%
AT Market
CNN1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Canon (CNN1) -0.5% 0.3% 3.2% - - -
Europe Tech 2.3% 6.7% 13.8% -1.9% 54.9% 36.9%
AT Market 2.1% 6.4% 8.1% -2.7% 42.9% 31.5%
1 Year Return vs Industry and Market
  • No trading data on CNN1.
  • No trading data on CNN1.
Price Volatility
CNN1
Industry
5yr Volatility vs Market

CNN1 Value

 Is Canon undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Canon to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Canon.

WBAG:CNN1 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 18 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7%
Perpetual Growth Rate 10-Year AT Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for WBAG:CNN1
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6%
Tech Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.045 (1 + (1- 30.86%) (11.7%))
1.087
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.09
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (1.087 * 5.96%)
6.99%

Discounted Cash Flow Calculation for WBAG:CNN1 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Canon is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

WBAG:CNN1 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 6.99%)
2019 307,110.70 Analyst x10 287,056.11
2020 275,050.30 Analyst x10 240,301.13
2021 273,033.29 Analyst x7 222,962.14
2022 219,880.67 Analyst x3 167,831.86
2023 252,100.00 Analyst x2 179,858.95
2024 244,037.52 Est @ -3.2% 162,737.51
2025 238,947.66 Est @ -2.09% 148,938.06
2026 235,824.65 Est @ -1.31% 137,392.79
2027 234,027.93 Est @ -0.76% 127,442.50
2028 233,137.87 Est @ -0.38% 118,667.36
Present value of next 10 years cash flows ¥1,793,188.42
WBAG:CNN1 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ¥233,137.87 × (1 + 0.51%) ÷ (6.99% – 0.51%)
¥3,618,223.12
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥3,618,223.12 ÷ (1 + 6.99%)10
¥1,841,678.35
WBAG:CNN1 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥1,793,188.42 + ¥1,841,678.35
¥3,634,866.77
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥3,634,866.77 / 1,079.75
¥3366.4
WBAG:CNN1 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in WBAG:CNN1 represents 0.00805x of TSE:7751
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00805x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 3,366.40 x 0.00805
€27.09
Value per share (EUR) From above. €27.09
Current discount Discount to share price of €25.51
= -1 x (€25.51 - €27.09) / €27.09
5.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Canon is available for.
Intrinsic value
6%
Share price is €25.51 vs Future cash flow value of €27.09
Current Discount Checks
For Canon to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Canon's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Canon's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Canon's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Canon's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:CNN1 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in JPY ¥234.09
TSE:7751 Share Price ** TSE (2019-04-18) in JPY ¥3170
Europe Tech Industry PE Ratio Median Figure of 22 Publicly-Listed Tech Companies 13.17x
Austria Market PE Ratio Median Figure of 52 Publicly-Listed Companies 14.56x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Canon.

WBAG:CNN1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:7751 Share Price ÷ EPS (both in JPY)

= 3170 ÷ 234.09

13.54x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Canon is overvalued based on earnings compared to the Europe Tech industry average.
  • Canon is good value based on earnings compared to the Austria market.
Price based on expected Growth
Does Canon's expected growth come at a high price?
Raw Data
WBAG:CNN1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.54x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts
-1.4%per year
Europe Tech Industry PEG Ratio Median Figure of 12 Publicly-Listed Tech Companies 0.87x
Austria Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 1.28x

*Line of best fit is calculated by linear regression .

WBAG:CNN1 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.54x ÷ -1.4%

-9.46x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Canon earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Canon's assets?
Raw Data
WBAG:CNN1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in JPY ¥2,618.76
TSE:7751 Share Price * TSE (2019-04-18) in JPY ¥3170
Europe Tech Industry PB Ratio Median Figure of 30 Publicly-Listed Tech Companies 1.3x
Austria Market PB Ratio Median Figure of 60 Publicly-Listed Companies 1.24x
WBAG:CNN1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:7751 Share Price ÷ Book Value per Share (both in JPY)

= 3170 ÷ 2,618.76

1.21x

* Primary Listing of Canon.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Canon is good value based on assets compared to the Europe Tech industry average.
X
Value checks
We assess Canon's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Tech industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Tech industry average (and greater than 0)? (1 check)
  5. Canon has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CNN1 Future Performance

 How is Canon expected to perform in the next 1 to 3 years based on estimates from 18 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-1.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Canon expected to grow at an attractive rate?
  • Canon's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Canon's earnings are expected to decrease over the next 1-3 years, this is below the Austria market average.
  • Canon's revenues are expected to decrease over the next 1-3 years, this is below the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:CNN1 Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:CNN1 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts -1.4%
WBAG:CNN1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 18 Analysts -0.1%
Europe Tech Industry Earnings Growth Rate Market Cap Weighted Average 14.7%
Europe Tech Industry Revenue Growth Rate Market Cap Weighted Average 8.2%
Austria Market Earnings Growth Rate Market Cap Weighted Average 9.1%
Austria Market Revenue Growth Rate Market Cap Weighted Average 2.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
WBAG:CNN1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:CNN1 Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 4,132,000 1
2022-12-31 3,796,500 2
2021-12-31 3,921,914 451,354 241,787 11
2020-12-31 3,924,025 460,070 238,654 18
2019-12-31 3,881,580 509,640 233,531 16
WBAG:CNN1 Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2018-12-31 3,951,937 365,293 252,755
2018-09-30 4,013,888 369,758 235,644
2018-06-30 4,081,880 446,304 252,437
2018-03-31 4,067,966 465,279 243,947
2017-12-31 4,080,015 590,557 241,923
2017-09-30 3,924,897 571,426 232,150
2017-06-30 3,709,245 568,182 193,480
2017-03-31 3,577,018 553,082 177,748
2016-12-31 3,401,487 500,283 150,650
2016-09-30 3,478,952 487,255 174,724
2016-06-30 3,625,896 491,219 199,523
2016-03-31 3,740,056 489,894 214,270

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Canon's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Canon's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WBAG:CNN1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below

All data from Canon Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:CNN1 Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 225.01 294.60 150.00 12.00
2020-12-31 221.75 269.10 168.60 19.00
2019-12-31 216.70 251.90 183.38 19.00
WBAG:CNN1 Past Financials Data
Date (Data in JPY Millions) EPS *
2018-12-31 234.09
2018-09-30 218.21
2018-06-30 233.70
2018-03-31 225.38
2017-12-31 222.88
2017-09-30 213.30
2017-06-30 177.31
2017-03-31 162.76
2016-12-31 137.95
2016-09-30 159.99
2016-06-30 182.70
2016-03-31 196.21

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Canon is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Canon's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Canon has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CNN1 Past Performance

  How has Canon performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Canon's growth in the last year to its industry (Tech).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Canon's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Canon's 1-year earnings growth exceeds its 5-year average (4.5% vs -0.9%)
  • Canon's earnings growth has not exceeded the Europe Tech industry average in the past year (4.5% vs 12.3%).
Earnings and Revenue History
Canon's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Canon Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:CNN1 Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 3,951,937.00 252,755.00 1,160,076.00 315,842.00
2018-09-30 4,013,888.00 235,644.00 1,208,575.00 316,870.00
2018-06-30 4,081,880.00 252,437.00 1,250,475.00 321,786.00
2018-03-31 4,067,966.00 243,947.00 1,273,413.00 326,879.00
2017-12-31 4,080,015.00 241,923.00 1,291,792.00 333,371.00
2017-09-30 3,924,897.00 232,150.00 1,252,326.00 319,691.00
2017-06-30 3,709,245.00 193,480.00 1,197,005.00 310,363.00
2017-03-31 3,577,018.00 177,748.00 1,169,327.00 305,600.00
2016-12-31 3,401,487.00 150,650.00 1,136,595.00 306,537.00
2016-09-30 3,478,952.00 174,724.00 1,169,075.00 311,719.00
2016-06-30 3,625,896.00 199,523.00 1,215,155.00 321,002.00
2016-03-31 3,740,056.00 214,270.00 1,243,335.00 328,131.00
2015-12-31 3,800,271.00 220,209.00 1,250,674.00 328,500.00
2015-09-30 3,817,569.00 219,395.00 1,252,601.00 327,352.00
2015-06-30 3,763,995.00 228,464.00 1,227,421.00 320,206.00
2015-03-31 3,716,385.00 241,117.00 1,208,107.00 313,400.00
2014-12-31 3,727,252.00 254,797.00 1,189,004.00 308,979.00
2014-09-30 3,702,014.00 250,959.00 1,171,319.00 304,597.00
2014-06-30 3,742,955.00 251,532.00 1,165,936.00 306,868.00
2014-03-31 3,783,039.00 237,180.00 1,171,221.00 307,626.00
2013-12-31 3,731,380.00 230,483.00 1,154,820.00 306,324.00
2013-09-30 3,648,076.00 227,404.00 1,118,159.00 303,195.00
2013-06-30 3,534,876.00 218,721.00 1,082,438.00 298,272.00
2013-03-31 3,467,201.00 203,939.00 1,051,082.00 297,949.00
2012-12-31 3,479,788.00 224,564.00 1,029,646.00 296,464.00
2012-09-30 3,493,151.00 224,834.00 1,030,863.00 305,470.00
2012-06-30 3,610,113.00 252,559.00 1,039,434.00 310,979.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Canon has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Canon used its assets less efficiently than the Europe Tech industry average last year based on Return on Assets.
  • Canon's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Canon's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Tech industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Canon has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CNN1 Health

 How is Canon's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Canon's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Canon is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Canon's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Canon's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 5.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Canon Company Filings, last reported 3 months ago.

WBAG:CNN1 Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 3,017,913.00 400,489.00 521,601.00
2018-09-30 3,071,658.00 480,253.00 536,564.00
2018-06-30 3,052,257.00 482,770.00 639,358.00
2018-03-31 2,964,164.00 532,706.00 602,012.00
2017-12-31 3,096,175.00 532,566.00 723,779.00
2017-09-30 3,011,392.00 602,743.00 661,801.00
2017-06-30 2,989,787.00 652,890.00 711,355.00
2017-03-31 2,927,366.00 653,273.00 659,695.00
2016-12-31 2,994,622.00 613,139.00 633,399.00
2016-09-30 2,826,988.00 611,252.00 542,446.00
2016-06-30 2,909,042.00 611,276.00 591,567.00
2016-03-31 3,032,674.00 661,419.00 602,225.00
2015-12-31 3,184,463.00 1,569.00 654,264.00
2015-09-30 3,117,994.00 1,715.00 596,898.00
2015-06-30 3,221,782.00 1,875.00 645,106.00
2015-03-31 3,030,369.00 2,089.00 835,279.00
2014-12-31 3,140,758.00 2,166.00 916,443.00
2014-09-30 3,047,703.00 2,698.00 791,809.00
2014-06-30 2,985,859.00 2,157.00 821,691.00
2014-03-31 2,974,303.00 2,238.00 772,971.00
2013-12-31 3,066,777.00 2,747.00 836,823.00
2013-09-30 2,868,576.00 3,339.00 695,099.00
2013-06-30 2,848,283.00 3,264.00 755,123.00
2013-03-31 2,800,598.00 3,474.00 630,662.00
2012-12-31 2,754,302.00 3,983.00 695,000.00
2012-09-30 2,585,106.00 4,430.00 615,949.00
2012-06-30 2,658,194.00 7,333.00 751,595.00
  • Canon's level of debt (13.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0.1% vs 13.3% today).
  • Debt is well covered by operating cash flow (91.2%, greater than 20% of total debt).
  • Canon earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Canon's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Canon has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CNN1 Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.05%
Current annual income from Canon dividends. Estimated to be 5.11% next year.
If you bought €2,000 of Canon shares you are expected to receive €101 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Canon's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.37%).
  • Canon's dividend is above the markets top 25% of dividend payers in Austria (4.59%).
Upcoming dividend payment

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

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
WBAG:CNN1 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below
Europe Tech Industry Average Dividend Yield Market Cap Weighted Average of 12 Stocks 1.5%
Austria Market Average Dividend Yield Market Cap Weighted Average of 50 Stocks 3.3%
Austria Minimum Threshold Dividend Yield 10th Percentile 0.9%
Austria Bottom 25% Dividend Yield 25th Percentile 1.4%
Austria Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

WBAG:CNN1 Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 163.64 11.00
2020-12-31 161.67 18.00
2019-12-31 161.11 18.00
WBAG:CNN1 Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-02-25 160.000 4.972
2018-11-13 160.000 5.102
2018-10-25 160.000 4.916
2018-07-27 160.000 4.529
2018-03-29 150.000 4.029
2018-01-30 150.000 3.764
2017-11-13 150.000 3.476
2017-10-24 150.000 3.507
2017-08-09 150.000 3.891
2017-07-27 150.000 3.892
2017-03-30 150.000 4.020
2017-03-07 150.000 4.311
2017-01-31 150.000 4.557
2016-11-14 150.000 4.549
2016-10-26 150.000 5.030
2016-08-10 150.000 5.075
2016-07-27 150.000 5.178
2016-07-26 150.000 5.135
2016-04-01 150.000 4.874
2014-12-11 170.000 4.498
2014-11-13 130.000 3.448
2014-10-27 130.000 3.789
2014-08-07 130.000 3.798
2014-07-25 130.000 3.827
2014-07-24 130.000 3.811
2014-03-28 130.000 3.948
2014-01-29 130.000 4.237
2013-11-13 130.000 3.980
2013-10-25 130.000 4.188
2013-07-25 130.000 4.182
2013-07-24 130.000 3.898
2013-03-04 120.000 3.481
2012-11-14 120.000 3.787
2012-10-26 120.000 4.751
2012-10-25 120.000 4.612
2012-08-10 120.000 4.582
2012-07-26 120.000 4.520
2012-07-25 120.000 4.670
2012-03-29 120.000 3.614
2011-07-26 125.000 3.562
2011-03-31 130.000 3.481
2010-11-15 110.000 2.767
2010-10-29 110.000 2.853
2010-10-27 110.000 2.975
2010-08-06 110.000 2.968
2010-07-29 110.000 2.933
2010-07-27 110.000 2.996
2010-03-30 110.000 2.876
2010-01-27 110.000 2.882
2009-11-16 110.000 2.987
2009-10-28 110.000 3.217
2009-08-07 110.000 3.114
2009-07-29 110.000 3.205
2009-04-21 110.000 3.479

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Canon's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Canon's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Canon afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Canon has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CNN1 Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Fujio Mitarai
COMPENSATION ¥332,000,000
AGE 83
TENURE AS CEO 23.6 years
CEO Bio

Mr. Fujio Mitarai has been the Chairman and Chief Executive Officer of Canon Inc. since March 31, 2006 and September 1995 respectively. Mr. Mitarai served as the President of Canon Singapore Pte. Ltd. since 1995. He joined Canon Inc. in April 1961 and served as its President from September 1995 to May 23, 2006. He served as the President of canon U.S.A. Inc., a subsidiary of Canon Inc. since January 1979 and served as Canon Inc.'s Managing Director since March 1985 and served as In charge of HQ Administration since January 1989 and served as senior managing Director since March 1989 and served as Executive Vice President since March 1993. He served as the Chairman of Nippon Keidanren. He has been a Representative Director of Canon Inc. since March 1981. Mr. Mitarai served as an Outside Director of Japan Post Holdings Co., Ltd. since June 2013 until June 28, 2016. He served as Corporate Auditor of The Dai-Ichi Life Insurance Company, Limited.

CEO Compensation
  • Fujio's compensation has been consistent with company performance over the past year.
  • Insufficient data for Fujio to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure and age of the Canon management team in years:

7.1
Average Tenure
69
Average Age
  • The average tenure for the Canon management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Fujio Mitarai

TITLE
Chairman & CEO
COMPENSATION
¥332M
AGE
83
TENURE
23.6 yrs

Masaya Maeda

TITLE
President
COMPENSATION
¥157M
AGE
66
TENURE
3.1 yrs

Toshizo Tanaka

TITLE
CFO, EVP
COMPENSATION
¥152M
AGE
78
TENURE
11.1 yrs

Warren Dyer

TITLE
Chief Operating Officer

Toshio Homma

TITLE
Executive VP
COMPENSATION
¥152M
AGE
69
TENURE
0.1 yrs

Joe Adachi

TITLE
Executive Vice President
COMPENSATION
¥198M
AGE
70

Kevin Ogawa

TITLE
Managing Executive Officer
AGE
61

Hideki Ozawa

TITLE
Executive Vice President
COMPENSATION
¥123M
AGE
68

Seymour Liebman

TITLE
Senior Managing Executive Officer
AGE
69

Masanori Yamada

TITLE
Managing Executive Officer
AGE
64
Board of Directors Tenure

Average tenure and age of the Canon board of directors in years:

5.1
Average Tenure
66
Average Age
  • The tenure for the Canon board of directors is about average.
Board of Directors

Masaya Maeda

TITLE
President
COMPENSATION
¥157M
AGE
66
TENURE
12.1 yrs

Toshizo Tanaka

TITLE
CFO, EVP
COMPENSATION
¥152M
AGE
78
TENURE
24.1 yrs

Toshio Homma

TITLE
Executive VP
COMPENSATION
¥152M
AGE
69
TENURE
16.1 yrs

Kunitaro Saida

TITLE
Outside Director
AGE
75
TENURE
5.1 yrs

Fujio Mitarai

TITLE
Chairman & CEO
COMPENSATION
¥332M
AGE
83
TENURE
13.1 yrs

Haruhiko Kato

TITLE
Outside Director
AGE
66
TENURE
5.1 yrs

Masaaki Nakamura

TITLE
Audit & Supervisory Board Member
AGE
61
TENURE
1.1 yrs

Hiroshi Yoshida

TITLE
Outside Audit & Supervisory Board Member
AGE
64
TENURE
2.1 yrs

Koichi Kashimoto

TITLE
Outside Audit & Supervisory Board Member
AGE
57
TENURE
1.1 yrs

Hiroaki Sato

TITLE
Audit & Supervisory Board Member
AGE
58
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Canon's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Canon has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CNN1 News

Simply Wall St News

CNN1 Company Info

Description

Canon Inc. manufactures and sells office multifunction devices (MFDs), plain paper copying machines, laser and inkjet printers, cameras, diagnostic equipment, and lithography equipment. The company operates through four segments: Office Business Unit, Imaging System Business Unit, Medical System Business Unit, and Industry and Others Business Unit. The Office Business Unit segment offers office MFDs, printers, copying machines for personal and office use, production print products for print professionals, laser multifunction and laser printers, digital continuous feed presses, digital sheet-fed presses, wide-format printers, and document solutions, as well as software, services, and solutions. The Imaging System Business Unit segment provides interchangeable-lens digital cameras, digital compact cameras and camcorders, digital cinema cameras, interchangeable lenses, compact photo printers, inkjet printers, commercial photo printers, image scanners, multimedia projectors, broadcast equipment, and calculators. The Medical System Business Unit segment offers digital radiography systems, diagnostic X-ray systems, computed tomography, magnetic resonance imaging, diagnostic ultrasound systems, clinical chemistry analyzers, and ophthalmic equipment. The Industry and Others Business Unit segment provides semiconductor lithography equipment, flat panel display lithography equipment, vacuum thin-film deposition equipment, organic light-emitting diode panel manufacturing equipment, die bonders, micromotors, network cameras, handy terminals, and document scanners. The company also provides maintenance services; and supplies replacement drums, parts, toners, and papers. It sells its products under the Canon brand through subsidiaries or independent distributors to dealers and retail outlets, as well as directly to end-users in Japan, the Americas, Europe, rest of Asia, and Oceania. Canon Inc. was founded in 1933 and is headquartered in Tokyo, Japan.

Details
Name: Canon Inc.
CNN1
Exchange: WBAG
Founded: 1933
¥27,191,637,006
1,079,749,823
Website: http://global.canon
Address: Canon Inc.
30-2, Shimomaruko 3-chome,
Ohta-ku,
Tokyo,
146-8501,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 7751 Common Stock The Tokyo Stock Exchange JP JPY 31. Jan 1975
OTCPK CAJF.F Common Stock Pink Sheets LLC US USD 31. Jan 1975
DB CNN1 Common Stock Deutsche Boerse AG DE EUR 31. Jan 1975
WBAG CNN1 Common Stock Wiener Boerse AG AT EUR 31. Jan 1975
NYSE CAJ SPONSORED ADR New York Stock Exchange US USD 17. May 1972
DB CNNA SPONSORED ADR Deutsche Boerse AG DE EUR 17. May 1972
BMV CAJ N SPONSORED ADR Bolsa Mexicana de Valores MX MXN 17. May 1972
Number of employees
Current staff
Staff numbers
195,056
Canon employees.
Industry
Technology Hardware, Storage and Peripherals
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/20 22:19
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/18
Last earnings filing: 2019/03/28
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.