TSE:6752

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 Analysis

Solid track record and good value.


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: 6752's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-5.0%

6752

-4.5%

JP Consumer Durables

-4.6%

JP Market


1 Year Return

-20.1%

6752

1.1%

JP Consumer Durables

-15.7%

JP Market

Return vs Industry: 6752 underperformed the JP Consumer Durables industry which returned 5.3% over the past year.

Return vs Market: 6752 underperformed the JP Market which returned -12.1% over the past year.


Shareholder returns

6752IndustryMarket
7 Day-5.0%-4.5%-4.6%
30 Day-22.3%-13.2%-11.2%
90 Day-23.7%-21.4%-21.0%
1 Year-17.3%-20.1%3.4%1.1%-13.5%-15.7%
3 Year-31.2%-36.4%-2.6%-8.1%-2.3%-9.2%
5 Year-44.0%-50.6%6.6%-2.8%-1.1%-11.8%

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?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 6752 (¥806.1) is trading below our estimate of fair value (¥1598.44)

Significantly Below Fair Value: 6752 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 6752 is good value based on its PE Ratio (6.5x) compared to the Consumer Durables industry average (8.5x).

PE vs Market: 6752 is good value based on its PE Ratio (6.5x) compared to the JP market (12.3x).


Price to Earnings Growth Ratio

PEG Ratio: 6752 is poor value based on its PEG Ratio (1.4x)


Price to Book Ratio

PB vs Industry: 6752 is overvalued based on its PB Ratio (1x) compared to the JP Consumer Durables industry average (0.6x).


Next Steps

Future Growth

How is Panasonic forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?

4.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 6752's forecast earnings growth (4.5% per year) is above the savings rate (-0.09%).

Earnings vs Market: 6752's earnings (4.5% per year) are forecast to grow slower than the JP market (9.2% per year).

High Growth Earnings: 6752's earnings are forecast to grow, but not significantly.

Revenue vs Market: 6752's revenue is expected to decline over the next 3 years (-0.06% per year).

High Growth Revenue: 6752's revenue is forecast to decline over the next 3 years (-0.06% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 6752's Return on Equity is forecast to be low in 3 years time (10.3%).


Next Steps

Past Performance

How has Panasonic performed over the past 5 years?

13.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 6752 has high quality earnings.

Growing Profit Margin: 6752's current net profit margins (3.8%) are higher than last year (2.6%).


Past Earnings Growth Analysis

Earnings Trend: 6752's earnings have grown by 13.2% per year over the past 5 years.

Accelerating Growth: 6752's earnings growth over the past year (37.7%) exceeds its 5-year average (13.2% per year).

Earnings vs Industry: 6752 earnings growth over the past year (37.7%) exceeded the Consumer Durables industry -0.4%.


Return on Equity

High ROE: 6752's Return on Equity (14.3%) is considered low.


Next Steps

Financial Health

How is Panasonic's financial position?


Financial Position Analysis

Short Term Liabilities: 6752's short term assets (¥3,997.1B) exceed its short term liabilities (¥2,643.7B).

Long Term Liabilities: 6752's short term assets (¥3,997.1B) exceed its long term liabilities (¥1,922.6B).


Debt to Equity History and Analysis

Debt Level: 6752's debt to equity ratio (52.5%) is considered high.

Reducing Debt: 6752's debt to equity ratio has increased from 30.2% to 52.5% over the past 5 years.

Debt Coverage: 6752's debt is well covered by operating cash flow (36.7%).

Interest Coverage: 6752 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: 6752 has a high level of physical assets or inventory.

Debt Coverage by Assets: 6752's debt is covered by short term assets (assets are 3.6x debt).


Next Steps

Dividend

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

3.82%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 6752's dividend (3.72%) is higher than the bottom 25% of dividend payers in the JP market (1.69%).

High Dividend: 6752's dividend (3.72%) is low compared to the top 25% of dividend payers in the JP market (3.87%).


Stability and Growth of Payments

Stable Dividend: 6752's dividend payments have been volatile in the past 10 years.

Growing Dividend: 6752's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (24.2%), 6752'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

How experienced are the management team and are they aligned to shareholders interests?

2.8yrs

Average management tenure


CEO

Kazuhiro Tsuga (63yo)

2.83s

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 ($USD2.37M) is above average for companies of similar size in the JP market ($USD1.82M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Kazuhiro Tsuga
CEO, President & Representative Director2.83yrsJP¥255.00m0.0031% ¥57.2m
Mototsugu Sato
Executive VP5.83yrsJP¥141.00m0.0018% ¥32.1m
Yasuyuki Higuchi
Senior Managing Executive Officer & Representative Director2.75yrsJP¥151.00m0.00093% ¥17.0m
Hirokazu Umeda
CFO, Managing Executive Officer & Director2.75yrsno data0.00072% ¥13.2m
Tom Korte
Senior Vice President of Operationsno datano datano data
Sumitaka Yoshitomi
General Manager of Accounting & Business Performance Management Officeno datano datano data
Yoshiyuki Miyabe
Senior Managing Executive Officer2.75yrsJP¥114.00mno data
Hiroshi Sakakibara
Chief Digital Officer & Chief Information Officer1.33yrsno datano data
Kazuhiro Matsushita
General Manager of Planning and Administration Departmentno datano datano data
Masahito Yamamura
General Manager of Investor Relationsno datano datano data

2.8yrs

Average Tenure

62yo

Average Age

Experienced Management: 6752's management team is considered experienced (2.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Kazuhiro Tsuga
CEO, President & Representative Director2.83yrsJP¥255.00m0.0031% ¥57.2m
Mototsugu Sato
Executive VP5.83yrsJP¥141.00m0.0018% ¥32.1m
Yasuyuki Higuchi
Senior Managing Executive Officer & Representative Director2.75yrsJP¥151.00m0.00093% ¥17.0m
Hirokazu Umeda
CFO, Managing Executive Officer & Director2.75yrsno data0.00072% ¥13.2m
Laurence W. Bates
General Counsel1.83yrsno datano data
Tetsuro Homma
Senior Managing Executive Officer & Representative Director1.25yrsJP¥118.00m0.0011% ¥19.8m
Kazuhiko Toyama
Independent Outside Director3.83yrsno data0.00060% ¥11.0m
Yoshinobu Tsutsui
Independent Outside Director4.83yrsno datano data
Shusaku Nagae
Chairman of the Board6.83yrsJP¥118.00m0.0018% ¥33.0m
Hiroko Ota
Independent Outside Director6.83yrsno data0.00021% ¥3.8m

3.3yrs

Average Tenure

63yo

Average Age

Experienced Board: 6752's board of directors are considered experienced (3.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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.


Top Shareholders

Company Information

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


Key Information

  • Name: Panasonic Corporation
  • Ticker: 6752
  • Exchange: TSE
  • Founded: 1918
  • Industry: Consumer Electronics
  • Sector: Consumer Durables
  • Market Cap: JP¥1.833t
  • 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
PANAS NBMV (Bolsa Mexicana de Valores)YesCommon StockMXMXNJan 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, Eco Solutions, Connected Solutions, Automotive & Industrial Systems, and Other segments. The Appliances segment offers air conditioners, TVs, refrigerators, washing machines, personal care products, microwave ovens, digital cameras, home audio equipment, video equipment, fixed-phones, vacuum cleaners, rice cookers, show cases, compressors, fuel cells, etc. The Eco Solutions segment provides lighting fixtures, lamps, wiring devices, solar photovoltaic systems, water related products, interior and exterior furnishing materials, ventilation and air conditioning equipment, air purifiers, bicycles, nursing care related products, etc. The Connected Solutions segment offers in-flight entertainment systems and communications services, electronic components mounting machines, welding equipment, PCs and tablets, projectors, broadcast and professional AV systems, surveillance cameras, etc. The Automotive & Industrial Systems segment provides automotive use infotainment systems, electrical components, automotive mirrors, lithium ion and automotive batteries, dry batteries, automation controls, electric motors, electronic components, electronic materials, semiconductors, LCD panels, etc. The Others segment provides detached housing construction, apartment housing rental, and home remodeling services; and sells land, properties, and condominiums. The company offers its products to business and industrial customers, and consumers. Panasonic Corporation has a strategic partnership with Plug and Play, and Welcome Air-Tech Ltd. The company was formerly known as Matsushita Electric Industrial Co., Ltd. and changed its name to Panasonic Corporation in 2008. Panasonic Corporation was founded in 1918 and is headquartered in Kadoma, Japan. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/02 15:17
End of Day Share Price2020/04/02 00:00
Earnings2019/12/31
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.