Panasonic Manufacturing Philippines (PSE:PMPC) - Share price, News & Analysis

PMPC fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	3/6
Financial Health	6/6
Dividends	4/6

PMPC Stock Overview

Panasonic Manufacturing Philippines Corporation manufactures, imports, and distributes electronic, electrical, mechanical, and electro-mechanical appliances in the Philippines and Hong Kong.

Rewards

PE ratio (7.1x) is below the PH market (11.4x)

Earnings grew by 362.8% over the past year

Risk Analysis

Earnings have declined by 8.7% per year over past 5 years

High level of non-cash earnings

Dividend of 8.26% is not well covered by earnings

Does not have a meaningful market cap (₱3B)

Panasonic Manufacturing Philippines Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Panasonic Manufacturing Philippines
Historical stock prices
Current Share Price	₱6.35
52 Week High	₱6.96
52 Week Low	₱5.50
Beta	0.34
1 Month Change	0.47%
3 Month Change	6.01%
1 Year Change	15.25%
3 Year Change	9.48%
5 Year Change	2.42%
Change since IPO	-25.94%

Shareholder Returns

	PMPC	PH Consumer Durables	PH Market
7D	2.4%	-0.4%	-4.8%
1Y	15.2%	-19.1%	2.9%

Return vs Industry: PMPC exceeded the PH Consumer Durables industry which returned -19.1% over the past year.

Return vs Market: PMPC exceeded the PH Market which returned 2.9% over the past year.

Price Volatility

Is PMPC's price volatile compared to industry and market?
PMPC volatility
PMPC Average Weekly Movement	3.6%
Consumer Durables Industry Average Movement	5.6%
Market Average Movement	5.5%
10% most volatile stocks in PH Market	10.1%
10% least volatile stocks in PH Market	3.0%

Stable Share Price: PMPC is less volatile than 75% of PH stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: PMPC's weekly volatility (4%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1963	n/a	Yasushi Kondo	https://www.panasonic.com/ph

Panasonic Manufacturing Philippines Corporation manufactures, imports, and distributes electronic, electrical, mechanical, and electro-mechanical appliances in the Philippines and Hong Kong. It operates through Consumer, System Solutions Group, and Others segments. The company’s Consumer segment offers audio and video products primarily related to the media and entertainment industry; and home appliances and household equipment for household consumers.

Panasonic Manufacturing Philippines Fundamentals Summary

How do Panasonic Manufacturing Philippines's earnings and revenue compare to its market cap?
PMPC fundamental statistics
Market Cap	₱2.68b
Earnings (TTM)	₱378.71m
Revenue (TTM)	₱12.38b

7.1x

P/E Ratio

0.2x

P/S Ratio

Is PMPC overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
PMPC income statement (TTM)
Revenue	₱12.38b
Cost of Revenue	₱9.72b
Gross Profit	₱2.65b
Other Expenses	₱2.28b
Earnings	₱378.71m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	0.90
Gross Margin	21.45%
Net Profit Margin	3.06%
Debt/Equity Ratio	0%

How did PMPC perform over the long term?

See historical performance and comparison

Dividends

8.3%

Current Dividend Yield

59%

Payout Ratio

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

7.09x

Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: PMPC (₱6.35) is trading above our estimate of fair value (₱4.65)

Significantly Below Fair Value: PMPC is trading above our estimate of fair value.

Price To Earnings Ratio

PE vs Industry: PMPC is good value based on its PE Ratio (7.1x) compared to the Asian Consumer Durables industry average (16.1x).

PE vs Market: PMPC is good value based on its PE Ratio (7.1x) compared to the PH market (11.4x).

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate PMPC's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: PMPC is good value based on its PB Ratio (0.6x) compared to the XA Consumer Durables industry average (1.5x).

Future Growth

How is Panasonic Manufacturing Philippines forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

13.4%

Forecasted Consumer Durables industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Panasonic Manufacturing Philippines has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has Panasonic Manufacturing Philippines performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-8.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PMPC has a high level of non-cash earnings.

Growing Profit Margin: PMPC's current net profit margins (3.1%) are higher than last year (0.8%).

Past Earnings Growth Analysis

Earnings Trend: PMPC's earnings have declined by 8.7% per year over the past 5 years.

Accelerating Growth: PMPC's earnings growth over the past year (362.8%) exceeds its 5-year average (-8.7% per year).

Earnings vs Industry: PMPC earnings growth over the past year (362.8%) exceeded the Consumer Durables industry 11.8%.

Return on Equity

High ROE: PMPC's Return on Equity (8%) is considered low.

Financial Health

How is Panasonic Manufacturing Philippines's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: PMPC's short term assets (₱7.1B) exceed its short term liabilities (₱2.8B).

Long Term Liabilities: PMPC's short term assets (₱7.1B) exceed its long term liabilities (₱660.8M).

Debt to Equity History and Analysis

Debt Level: PMPC is debt free.

Reducing Debt: PMPC has not had any debt for past 5 years.

Debt Coverage: PMPC has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: PMPC has no debt, therefore coverage of interest payments is not a concern.

Balance Sheet

Dividend

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

Dividend Score

4/6

Dividend Score 4/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

8.26%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: PMPC's dividend (8.26%) is higher than the bottom 25% of dividend payers in the PH market (1.47%).

High Dividend: PMPC's dividend (8.26%) is in the top 25% of dividend payers in the PH market (4.92%)

Stability and Growth of Payments

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

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

Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (58.5%), PMPC's dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (120.2%), PMPC's dividend payments are not well covered by cash flows.

Next Steps

Explore strong dividend paying companies in the Consumer Durables industry.

Management

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

0.5yrs

Average management tenure

CEO

Yasushi Kondo

0.50

Tenure

Mr. Yasushi Kondo is President of Panasonic Manufacturing Philippines Corporation from November 2021. HE has been the Chairman of the Board at Panasonic Manufacturing Philippines Corporation since December...

Leadership Team

Experienced Management: PMPC's management team is not considered experienced ( 0.5 years average tenure), which suggests a new team.

Board Members

Experienced Board: PMPC's board of directors are not considered experienced ( 1.5 years average tenure), which suggests a new board.

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.

Data	Last Updated (UTC time)
Company Analysis	2022/05/14 00:00
End of Day Share Price	2022/05/13 00:00
Earnings	2021/12/31
Annual Earnings	2021/03/31