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Sony

SWX:SONC
Snowflake Description

Adequate balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SONC
SWX
¥8,407B
Market Cap
  1. Home
  2. CH
  3. Consumer Durables
Company description

Sony Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets worldwide. The last earnings update was 19 days ago. More info.


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SONC Share Price and Events
7 Day Returns
0%
SWX:SONC
1.8%
Europe Consumer Durables
-0%
CH Market
1 Year Returns
3.2%
SWX:SONC
11%
Europe Consumer Durables
13.3%
CH Market
SONC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sony (SONC) 0% 4.8% 4.8% 3.2% 83.3% 166.5%
Europe Consumer Durables 1.8% 0.4% 9.1% 11% 16.6% 46.3%
CH Market -0% 3.2% 4.8% 13.3% 21.9% 13%
1 Year Return vs Industry and Market
  • SONC underperformed the Consumer Durables industry which returned 11% over the past year.
  • SONC underperformed the Market in Switzerland which returned 13.3% over the past year.
Price Volatility
SONC
Industry
5yr Volatility vs Market
Related Companies

SONC Value

 Is Sony 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 Sony 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 Sony.

SWX:SONC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 21 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9%
Perpetual Growth Rate 10-Year CH Government Bond Rate 3.3%

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 SWX:SONC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CH Govt Bond Rate 3.3%
Equity Risk Premium S&P Global 6%
Consumer Durables Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.811 (1 + (1- 30.86%) (21.06%))
0.952
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.95
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.28% + (0.952 * 5.96%)
8.95%

Discounted Cash Flow Calculation for SWX:SONC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Sony 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.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

SWX:SONC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 8.95%)
2020 568,197.67 Analyst x3 521,517.99
2021 401,860.38 Analyst x8 338,543.81
2022 454,043.14 Analyst x7 351,080.46
2023 497,250.00 Analyst x2 352,902.04
2024 493,800.00 Analyst x3 321,662.41
2025 496,442.25 Est @ 0.54% 296,816.34
2026 503,179.27 Est @ 1.36% 276,128.77
2027 512,902.92 Est @ 1.93% 258,341.35
2028 524,880.28 Est @ 2.34% 242,654.78
2029 538,617.16 Est @ 2.62% 228,548.63
Present value of next 10 years cash flows ¥3,188,196.00
SWX:SONC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥538,617.16 × (1 + 3.28%) ÷ (8.95% – 3.28%)
¥9,800,617.70
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥9,800,617.70 ÷ (1 + 8.95%)10
¥4,158,645.41
SWX:SONC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥3,188,196.00 + ¥4,158,645.41
¥7,346,841.41
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥7,346,841.41 / 1,228.35
¥5981.07
SWX:SONC Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in SWX:SONC represents 0.00796x of TSE:6758
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00796x
Value per Share
(Listing Adjusted, CHF)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 5,981.07 x 0.00796
CHF47.63
Value per share (CHF) From above. CHF47.63
Current discount Discount to share price of CHF54.50
= -1 x (CHF54.50 - CHF47.63) / CHF47.63
-14.4%

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

  • The current share price of Sony is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Sony's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sony's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SWX:SONC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in JPY ¥683.21
TSE:6758 Share Price ** TSE (2019-11-15) in JPY ¥6844
Europe Consumer Durables Industry PE Ratio Median Figure of 91 Publicly-Listed Consumer Durables Companies 12x
Switzerland Market PE Ratio Median Figure of 171 Publicly-Listed Companies 19.23x

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

** Primary Listing of Sony.

SWX:SONC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:6758 Share Price ÷ EPS (both in JPY)

= 6844 ÷ 683.21

10.02x

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

  • Sony is good value based on earnings compared to the Europe Consumer Durables industry average.
  • Sony is good value based on earnings compared to the Switzerland market.
Price based on expected Growth
Does Sony's expected growth come at a high price?
Raw Data
SWX:SONC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.02x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 21 Analysts
6.1%per year
Europe Consumer Durables Industry PEG Ratio Median Figure of 58 Publicly-Listed Consumer Durables Companies 1.11x
Switzerland Market PEG Ratio Median Figure of 124 Publicly-Listed Companies 2.17x

*Line of best fit is calculated by linear regression .

SWX:SONC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.02x ÷ 6.1%

1.65x

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

  • Sony is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Sony's assets?
Raw Data
SWX:SONC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in JPY ¥3,155.53
TSE:6758 Share Price * TSE (2019-11-15) in JPY ¥6844
Europe Consumer Durables Industry PB Ratio Median Figure of 116 Publicly-Listed Consumer Durables Companies 1.43x
Switzerland Market PB Ratio Median Figure of 214 Publicly-Listed Companies 1.66x
SWX:SONC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:6758 Share Price ÷ Book Value per Share (both in JPY)

= 6844 ÷ 3,155.53

2.17x

* Primary Listing of Sony.

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

  • Sony is overvalued based on assets compared to the Europe Consumer Durables industry average.
X
Value checks
We assess Sony'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 Consumer Durables 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 Consumer Durables industry average (and greater than 0)? (1 check)
  5. Sony 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.

SONC Future Performance

 How is Sony expected to perform in the next 1 to 3 years based on estimates from 21 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
6.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sony expected to grow at an attractive rate?
  • Sony's earnings growth is expected to exceed the low risk savings rate of 3.3%.
Growth vs Market Checks
  • Sony's earnings growth is positive but not above the Switzerland market average.
  • Sony's revenue growth is expected to exceed the Switzerland market average.
Annual Growth Rates Comparison
Raw Data
SWX:SONC Future Growth Rates Data Sources
Data Point Source Value (per year)
SWX:SONC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 21 Analysts 6.1%
SWX:SONC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 21 Analysts 3.6%
Europe Consumer Durables Industry Earnings Growth Rate Market Cap Weighted Average 5.8%
Europe Consumer Durables Industry Revenue Growth Rate Market Cap Weighted Average 2.9%
Switzerland Market Earnings Growth Rate Market Cap Weighted Average 9.9%
Switzerland Market Revenue Growth Rate Market Cap Weighted Average 3.5%

*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
SWX:SONC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 21 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SWX:SONC Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31 9,776,728 1,378,993 752,399 4
2023-03-31 9,567,936 1,327,534 713,672 4
2022-03-31 9,224,137 1,220,369 655,346 17
2021-03-31 8,901,671 1,150,074 591,537 21
2020-03-31 8,482,970 1,115,456 562,863 11
2019-11-18
SWX:SONC Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-09-30 8,577,286 1,258,394 856,832
2019-06-30 8,637,787 1,161,144 841,946
2019-03-31 8,665,687 1,258,738 916,271
2018-12-31 8,479,892 1,495,978 811,584
2018-09-30 8,750,404 1,399,444 678,519
2018-06-30 8,630,175 1,300,784 636,370
2018-03-31 8,534,664 1,253,971 490,794
2017-12-31 8,496,565 1,155,367 535,270
2017-09-30 8,221,747 993,135 259,004
2017-06-30 7,848,164 843,034 132,994
2017-03-31 7,603,250 807,530 73,289
2016-12-31 7,523,747 740,830 -42,698

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sony's earnings are expected to grow by 6.1% yearly, however this is not considered high growth (20% yearly).
  • Sony's revenue is expected to grow by 3.6% yearly, however this is not considered high growth (20% yearly).
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
SWX:SONC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 21 Analyst Estimates (S&P Global) See Below

All data from Sony Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:SONC Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31 606.83 666.00 552.30 4.00
2023-03-31 575.51 635.62 525.10 4.00
2022-03-31 538.35 682.42 448.61 18.00
2021-03-31 489.58 683.00 394.80 22.00
2020-03-31 451.50 500.00 426.28 14.00
2019-11-18
SWX:SONC Past Financials Data
Date (Data in JPY Millions) EPS *
2019-09-30 683.21
2019-06-30 667.15
2019-03-31 723.41
2018-12-31 640.25
2018-09-30 535.82
2018-06-30 503.04
2018-03-31 388.32
2017-12-31 423.73
2017-09-30 205.11
2017-06-30 105.35
2017-03-31 58.07
2016-12-31 -33.84

*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.
  • Sony is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Sony'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.
Sony has a total score of 2/6, 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.

SONC Past Performance

  How has Sony 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 Sony's growth in the last year to its industry (Consumer Durables).
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.
  • Sony has delivered over 20% year on year earnings growth in the past 5 years.
  • Sony's 1-year earnings growth is less than its 5-year average (26.3% vs 64.5%)
  • Sony's earnings growth has exceeded the Europe Consumer Durables industry average in the past year (26.3% vs 1.6%).
Earnings and Revenue History
Sony'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 Sony Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:SONC Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 8,577,286.00 856,832.00 1,510,872.00
2019-06-30 8,637,787.00 841,946.00 1,553,085.00
2019-03-31 8,665,687.00 916,271.00 1,552,679.00
2018-12-31 8,479,892.00 811,584.00 1,581,923.00
2018-09-30 8,750,404.00 678,519.00 1,567,430.00
2018-06-30 8,630,175.00 636,370.00 1,556,580.00
2018-03-31 8,534,664.00 490,794.00 1,564,198.00
2017-12-31 8,496,565.00 535,270.00 1,567,196.00
2017-09-30 8,221,747.00 259,004.00 1,563,316.00
2017-06-30 7,848,164.00 132,994.00 1,515,384.00
2017-03-31 7,603,250.00 73,289.00 1,496,102.00
2016-12-31 7,523,747.00 -42,698.00 1,494,177.00
2016-09-30 7,707,060.00 57,805.00 1,543,943.00
2016-06-30 7,910,852.00 86,516.00 1,623,904.00
2016-03-31 8,105,712.00 147,791.00 1,664,529.00
2015-12-31 8,219,323.00 129,338.00 1,713,716.00
2015-09-30 8,205,260.00 99,175.00 1,725,580.00
2015-06-30 8,214,031.00 -70,347.00 1,726,475.00
2015-03-31 8,215,880.00 -125,980.00 1,758,200.00
2014-12-31 8,137,639.00 -157,437.00 1,733,447.00
2014-09-30 7,981,579.00 -221,026.00 1,718,979.00
2014-06-30 7,854,303.00 -104,688.00 1,712,154.00
2014-03-31 7,767,266.00 -128,369.00 1,686,700.00
2013-12-31 7,595,993.00 102,292.00 1,602,800.00
2013-09-30 7,133,284.00 65,147.00 1,532,673.00
2013-06-30 6,963,708.00 69,308.00 1,451,754.00
2013-03-31 6,767,472.00 41,540.00 1,394,874.00
2012-12-31 6,644,148.00 -306,087.00 1,399,702.00

*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.
  • Sony has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Sony used its assets less efficiently than the Europe Consumer Durables industry average last year based on Return on Assets.
  • Sony has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Sony'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 Consumer Durables 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.
Sony has a total score of 3/6, 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.

SONC Health

 How is Sony'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 Sony's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Sony's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Sony's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Sony'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 3.8x 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 Sony Company Filings, last reported 1 month ago.

SWX:SONC Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 4,625,818.00 1,436,351.00 716,313.00
2019-06-30 4,553,898.00 1,447,883.00 2,002,184.00
2019-03-31 4,445,491.00 1,303,019.00 2,794,660.00
2018-12-31 4,455,618.00 1,391,333.00 2,210,174.00
2018-09-30 4,021,599.00 1,305,116.00 2,410,869.00
2018-06-30 3,872,008.00 1,319,555.00 2,282,667.00
2018-03-31 3,656,367.00 1,359,418.00 2,762,954.00
2017-12-31 3,729,556.00 1,377,284.00 2,123,228.00
2017-09-30 3,393,482.00 1,335,545.00 649,238.00
2017-06-30 3,245,479.00 1,339,907.00 2,083,059.00
2017-03-31 3,147,480.00 1,218,346.00 2,011,629.00
2016-12-31 3,087,154.00 1,258,235.00 1,799,722.00
2016-09-30 2,938,922.00 1,092,096.00 1,450,485.00
2016-06-30 3,074,739.00 826,894.00 1,528,568.00
2016-03-31 3,131,888.00 922,703.00 1,930,025.00
2015-12-31 3,429,183.00 1,099,845.00 848,175.00
2015-09-30 3,273,477.00 1,189,262.00 1,899,743.00
2015-06-30 3,006,916.00 936,970.00 1,599,318.00
2015-03-31 2,933,717.00 959,643.00 1,886,155.00
2014-12-31 3,079,453.00 1,050,457.00 646,204.00
2014-09-30 2,843,458.00 994,526.00 459,545.00
2014-06-30 2,796,096.00 1,063,145.00 1,546,369.00
2014-03-31 2,787,256.00 1,311,011.00 809,758.00
2013-12-31 2,944,926.00 1,315,480.00 611,824.00
2013-09-30 2,768,516.00 1,393,311.00 1,476,077.00
2013-06-30 2,743,867.00 1,427,855.00 1,523,773.00
2013-03-31 2,675,001.00 1,205,660.00 628,280.00
2012-12-31 2,484,345.00 1,387,086.00 1,356,279.00
  • Sony's level of debt (31.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (35% vs 31.1% today).
  • Debt is well covered by operating cash flow (87.6%, greater than 20% of total debt).
  • Sony earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Sony'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. Sony has a total score of 4/6, 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.

SONC Dividends

 What is Sony'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
0.58%
Current annual income from Sony dividends. Estimated to be 0.75% next year.
If you bought CHF2,000 of Sony shares you are expected to receive CHF12 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?
  • Sony's pays a lower dividend yield than the bottom 25% of dividend payers in Switzerland (1.85%).
  • Sony's dividend is below the markets top 25% of dividend payers in Switzerland (3.6%).
Upcoming dividend payment

Purchase Sony before the 'Ex-dividend' 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
SWX:SONC 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 21 Analyst Estimates (S&P Global) See Below
Europe Consumer Durables Industry Average Dividend Yield Market Cap Weighted Average of 71 Stocks 5%
Switzerland Market Average Dividend Yield Market Cap Weighted Average of 163 Stocks 2.9%
Switzerland Minimum Threshold Dividend Yield 10th Percentile 1.2%
Switzerland Bottom 25% Dividend Yield 25th Percentile 1.8%
Switzerland Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

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

SWX:SONC Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-03-31 86.25 4.00
2023-03-31 76.25 4.00
2022-03-31 53.29 17.00
2021-03-31 46.75 20.00
2020-03-31 41.67 18.00
2019-11-18
SWX:SONC Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-10-31 40.000 0.598
2019-10-30 40.000 0.616
2019-04-26 40.000 0.681
2019-02-07 30.000 0.591
2019-02-01 30.000 0.598
2018-10-30 30.000 0.531
2018-04-27 30.000 0.514
2018-02-08 25.000 0.474
2018-02-02 25.000 0.461
2017-10-31 25.000 0.477
2017-08-01 25.000 0.587
2017-04-28 20.000 0.477
2017-02-09 20.000 0.558
2017-02-02 20.000 0.566
2016-11-01 20.000 0.600
2016-05-20 20.000 0.624
2016-04-28 20.000 0.719
2016-01-29 20.000 0.740
2015-11-06 20.000 0.677
2015-10-29 20.000 0.581
2015-06-23 20.000 0.608
2015-05-26 20.000 0.532
2015-04-30 20.000 0.525
2015-03-17 0.000 0.000
2014-09-17 0.000 0.000
2014-05-13 25.000 1.411
2014-02-06 25.000 1.374
2013-10-30 25.000 1.406
2013-05-08 25.000 1.233
2013-02-14 25.000 1.632
2013-02-07 25.000 1.815
2012-10-31 25.000 2.625
2012-08-10 25.000 2.675
2012-05-09 25.000 2.418
2012-02-14 25.000 1.594
2012-02-02 25.000 1.684
2011-11-01 25.000 1.827
2011-08-12 25.000 1.605
2011-02-14 25.000 1.091
2011-02-03 25.000 0.865
2010-11-15 25.000 0.849
2010-10-29 25.000 0.923
2010-05-13 25.000 0.967
2009-10-30 25.000 0.847
2009-03-18 32.500 1.307
2009-02-20 40.000 2.304
2009-02-13 40.000 2.430
2009-01-29 40.000 2.225

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

  • Sony is not paying a notable dividend for Switzerland, therefore no need to check if the payments are stable.
  • Sony is not paying a notable dividend for Switzerland, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Sony's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Sony's dividends as it is not paying a notable one for Switzerland.
Future Payout to shareholders
  • No need to calculate the sustainability of Sony's dividends in 3 years as they are not expected to pay a notable one for Switzerland.
X
Income/ dividend checks
We assess Sony's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - 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 Sony afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sony has a total score of 0/6, see the detailed checks below.


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

SONC Management

 What is the CEO of Sony'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
Kenichiro Yoshida
COMPENSATION ¥397,000,000
AGE 60
TENURE AS CEO 1.6 years
CEO Bio

Mr. Kenichiro Yoshida has been Representative Corporate Executive Officer of Sony Corporation since April 2014 and its President and Chief Executive Officer since April 1, 2018. Mr. Yoshida served as the Chief Financial Officer of Sony Corporation since April 1, 2014 until April 1, 2018 and its Executive Deputy President since April 2015 until April 1, 2018. He served as an Executive Vice President of Sony Corporation since December 1, 2013. He served as the Chief Strategy Officer (CSO), Deputy Chief Financial Officer of Sony Corporation from December 1, 2013 to April 1, 2014 and served as its Senior Managing Executive Officer since June 2005. He served as an Executive President of So-net Entertainment Corporation (now known as Sony Network Communications, Inc.) since April 1, 2005 and its Senior Executive Officer since June 2008. He joined Sony Corporation in April 1983. Mr. Yoshida has been the Chairman of the Board of Gamepot, Inc. since June 2011. He has been a Director of Sony Corporation since June 19, 2014. He serves as a Director at Sony Corporation of America. He has been a Representative Director of Sony Bank, Inc. since February 2002. He joined So-net Entertainment Corporation in June 2005. He has been a Non-Executive Director at Sony Network Communications, Inc. since April 2005. He serves as Director of Sony Music Entertainment (Japan) Inc. and Sony Interactive Entertainment Inc. He has been an External Director of M3, Inc., since September 2000; Chorokbaem Media Co., Ltd. since March 2011 and Gamepot, Inc. since July 2010. He served as a Director of Sony Network Communications, Inc. since April 2005. Mr. Yoshida served as a Director of So-net Entertainment Corporation since April 1, 2005. His Brief Personal History: July 2000 Joined Sony Communication Network Corporation (currently Sony Network Communications Inc.) May 2001 SVP, Sony Communication Network Corporation April 2005 Representative Director of Sony Communication Network Corporation December 2013 Corporate Executive Officer of Sony Corporation (Prior)

CEO Compensation
  • Kenichiro's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Kenichiro's remuneration is about average for companies of similar size in Switzerland.
Management Team Tenure

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

1.6
Average Tenure
59
Average Age
  • The average tenure for the Sony management team is less than 2 years, this suggests a new team.
Management Team

Kenichiro Yoshida

TITLE
CEO, President
COMPENSATION
¥397M
AGE
60
TENURE
1.6 yrs

Hiroki Totoki

TITLE
Senior Executive VP
COMPENSATION
¥103M
AGE
55
TENURE
1.6 yrs

Shiro Kambe

TITLE
Executive VP & Corporate Executive Officer
COMPENSATION
¥78M
AGE
58
TENURE
9.8 yrs

Kazushi Ambe

TITLE
Executive VP & Corporate Executive Officer
COMPENSATION
¥72M
AGE
58
TENURE
5 yrs

Toru Katsumoto

TITLE
Senior EVP & Corporate Executive Officer
COMPENSATION
¥80M
AGE
62

Yasuhiro Ueda

TITLE
Head of Technology Policy and Relations
TENURE
1.6 yrs

J. Hill

TITLE
Head of Investor Relations

Natsuko Takei

TITLE
Senior General Manager of Legal & Compliance Department
TENURE
1.6 yrs

Shoji Nemoto

TITLE
Head of Disc Manufacturing Business
AGE
63
TENURE
14 yrs

Kaz Hirai

TITLE
Senior Adviser
COMPENSATION
¥2B
AGE
59
TENURE
0.4 yrs
Board of Directors Tenure

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

5.4
Average Tenure
62
Average Age
  • The tenure for the Sony board of directors is about average.
Board of Directors

Shuzo Sumi

TITLE
Chairman of the Board
AGE
72
TENURE
0.4 yrs

Kenichiro Yoshida

TITLE
CEO, President
COMPENSATION
¥397M
AGE
60
TENURE
5.4 yrs

Kazuo Matsunaga

TITLE
Vice Chairman of the Board
AGE
67

Hiroki Totoki

TITLE
Senior Executive VP
COMPENSATION
¥103M
AGE
55
TENURE
0.4 yrs

Kaz Hirai

TITLE
Senior Adviser
COMPENSATION
¥2B
AGE
59
TENURE
2.8 yrs

Eriko Sakurai

TITLE
Outside Director
AGE
59
TENURE
5.4 yrs

Lou Gerstner

TITLE
Member of Advisory Board
AGE
77

Tim Schaaff

TITLE
Non-Executive Director
AGE
60
TENURE
6.4 yrs

Koichi Miyata

TITLE
Outside Director
AGE
66
TENURE
5.4 yrs

John Roos

TITLE
Outside Director
AGE
64
TENURE
5.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CHF) Value (CHF)
X
Management checks
We assess Sony'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. Sony 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.

SONC News

Simply Wall St News

SONC Company Info

Description

Sony Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets worldwide. The company distributes software titles and add-on content through digital networks by Sony Interactive Entertainment; network services related to game, video, and music content; and home and portable game consoles, packaged software, and peripheral devices. It also develops, produces, markets, and distributes recorded music; publishes music; and produces and distributes animation titles, game applications based on animation titles, and various services for music and visual products. In addition, the company offers live-action and animated motion pictures, as well as scripted and unscripted series, daytime serials, game shows, animated series, television movies, and miniseries and other television programs; operates a visual effects and animation unit; manages a studio facility; and operates television and digital networks. Further, it researches, develops, designs, produces, markets, distributes, sells, and services video and sound products; interchangeable lens, compact digital, and consumer and professional video cameras; display products, such as projectors and medical equipment; mobile phones, tablets, accessories, and applications; and metal oxide semiconductor image sensors, charge-coupled devices, large-scale integration systems, and other semiconductors. Additionally, the company offers Internet broadband network services; creates and distributes content for various electronics product platforms, such as PCs and mobile phones; and provides life and non-life insurance, banking, and other services, as well as batteries, recording media, and storage media products. The company was formerly known as Tokyo Tsushin Kogyo Kabushiki Kaisha and changed its name to Sony Corporation in January 1958. Sony Corporation was founded in 1946 and is headquartered in Tokyo, Japan.

Details
Name: Sony Corporation
SONC
Exchange: SWX
Founded: 1946
¥76,467,383,963
1,228,349,054
Website: http://www.sony.net
Address: Sony Corporation
1-7-1 Konan,
Minato-ku,
Tokyo,
108-0075,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 6758 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1975
OTCPK SNEJ.F Common Stock Pink Sheets LLC US USD 06. Jan 1975
DB SON1 Common Stock Deutsche Boerse AG DE EUR 06. Jan 1975
SWX SONC Common Stock SIX Swiss Exchange CH CHF 06. Jan 1975
WBAG SON1 Common Stock Wiener Boerse AG AT EUR 06. Jan 1975
NYSE SNE ADR-EACH CNV INTO 1 ORD NPV New York Stock Exchange US USD 22. Sep 1970
BASE SNE CEDEAR REPR 1/2 ADR(CNV TO 1 ORD NPV) Buenos Aires Stock Exchange AR ARS 30. Jul 2007
DB SONA ADR-EACH CNV INTO 1 ORD NPV Deutsche Boerse AG DE EUR 22. Sep 1970
LSE 0L83 ADR-EACH CNV INTO 1 ORD NPV London Stock Exchange GB USD 22. Sep 1970
BMV SNE N ADR-EACH CNV INTO 1 ORD NPV Bolsa Mexicana de Valores MX MXN 22. Sep 1970
Number of employees
Current staff
Staff numbers
0
Sony employees.
Industry
Consumer Electronics
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/18 20:53
End of day share price update: 2019/11/15 00:00
Last estimates confirmation: 2019/11/08
Last earnings filing: 2019/10/30
Last earnings reported: 2019/09/30
Last annual earnings reported: 2019/03/31


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.