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JVCKENWOOD

DB:JVC
Snowflake Description

Very undervalued with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
JVC
DB
¥45B
Market Cap
  1. Home
  2. DE
  3. Consumer Durables
Company description

JVC KENWOOD Corporation manufactures and sells electronic and entertainment products in Japan, the Americas, Europe, Asia, and internationally. The last earnings update was 2 days ago. More info.


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JVC Share Price and Events
7 Day Returns
1.8%
DB:JVC
-1.1%
DE Consumer Durables
0.1%
DE Market
1 Year Returns
-3.9%
DB:JVC
2.9%
DE Consumer Durables
8.8%
DE Market
JVC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
JVCKENWOOD (JVC) 1.8% -14.6% -1.7% -3.9% -10% 47.8%
DE Consumer Durables -1.1% 3.5% 4.1% 2.9% -5.9% 11.6%
DE Market 0.1% 5.9% 15% 8.8% 14.5% 21%
1 Year Return vs Industry and Market
  • JVC underperformed the Consumer Durables industry which returned 2.9% over the past year.
  • JVC underperformed the Market in Germany which returned 8.8% over the past year.
Price Volatility
JVC
Industry
5yr Volatility vs Market

JVC Value

 Is JVCKENWOOD 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 JVCKENWOOD 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 JVCKENWOOD.

DB:JVC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.1%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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 DB:JVC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
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))
= 0.815 (1 + (1- 30.86%) (163.69%))
1.493
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.49
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.493 * 5.96%)
9.13%

Discounted Cash Flow Calculation for DB:JVC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for JVCKENWOOD 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.

DB:JVC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 9.13%)
2020 4,001.50 Analyst x2 3,666.78
2021 2,361.00 Analyst x3 1,982.53
2022 4,514.33 Analyst x3 3,473.60
2023 9,100.00 Analyst x1 6,416.36
2024 9,400.00 Analyst x1 6,073.47
2025 9,602.34 Est @ 2.15% 5,685.23
2026 9,753.60 Est @ 1.58% 5,291.73
2027 9,867.82 Est @ 1.17% 4,905.87
2028 9,955.46 Est @ 0.89% 4,535.42
2029 10,024.16 Est @ 0.69% 4,184.72
Present value of next 10 years cash flows ¥46,215.00
DB:JVC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥10,024.16 × (1 + 0.23%) ÷ (9.13% – 0.23%)
¥112,881.59
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥112,881.59 ÷ (1 + 9.13%)10
¥47,123.95
DB:JVC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥46,215.00 + ¥47,123.95
¥93,338.95
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥93,338.95 / 163.94
¥569.34
DB:JVC Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:JVC represents 0.00813x of TSE:6632
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00813x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 569.34 x 0.00813
€4.63
Value per share (EUR) From above. €4.63
Current discount Discount to share price of €2.22
= -1 x (€2.22 - €4.63) / €4.63
52.1%

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

Current Discount
Amount off the current price JVCKENWOOD is available for.
Intrinsic value
>50%
Share price is €2.22 vs Future cash flow value of €4.63
Current Discount Checks
For JVCKENWOOD to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • JVCKENWOOD's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • JVCKENWOOD's share price is below the future cash flow value, and 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 JVCKENWOOD's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are JVCKENWOOD's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:JVC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in JPY ¥20.10
TSE:6632 Share Price ** TSE (2019-11-14) in JPY ¥273
Germany Consumer Durables Industry PE Ratio Median Figure of 8 Publicly-Listed Consumer Durables Companies 17.05x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 19.83x

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

** Primary Listing of JVCKENWOOD.

DB:JVC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:6632 Share Price ÷ EPS (both in JPY)

= 273 ÷ 20.10

13.58x

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

  • JVCKENWOOD is good value based on earnings compared to the DE Consumer Durables industry average.
  • JVCKENWOOD is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does JVCKENWOOD's expected growth come at a high price?
Raw Data
DB:JVC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.58x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
20.3%per year
Germany Consumer Durables Industry PEG Ratio Median Figure of 5 Publicly-Listed Consumer Durables Companies 0.97x
Germany Market PEG Ratio Median Figure of 255 Publicly-Listed Companies 1.36x

*Line of best fit is calculated by linear regression .

DB:JVC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.58x ÷ 20.3%

0.67x

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

  • JVCKENWOOD is good value based on expected growth next year.
Price based on value of assets
What value do investors place on JVCKENWOOD's assets?
Raw Data
DB:JVC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in JPY ¥349.51
TSE:6632 Share Price * TSE (2019-11-14) in JPY ¥273
Germany Consumer Durables Industry PB Ratio Median Figure of 12 Publicly-Listed Consumer Durables Companies 1.69x
Germany Market PB Ratio Median Figure of 577 Publicly-Listed Companies 1.83x
DB:JVC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:6632 Share Price ÷ Book Value per Share (both in JPY)

= 273 ÷ 349.51

0.78x

* Primary Listing of JVCKENWOOD.

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

  • JVCKENWOOD is good value based on assets compared to the DE Consumer Durables industry average.
X
Value checks
We assess JVCKENWOOD'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. JVCKENWOOD has a total score of 6/6, 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.

JVC Future Performance

 How is JVCKENWOOD expected to perform in the next 1 to 3 years based on estimates from 7 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
20.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is JVCKENWOOD expected to grow at an attractive rate?
  • JVCKENWOOD's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • JVCKENWOOD's earnings growth is expected to exceed the Germany market average.
  • JVCKENWOOD's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:JVC Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:JVC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 20.3%
DB:JVC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 3%
Germany Consumer Durables Industry Earnings Growth Rate Market Cap Weighted Average 15%
Germany Consumer Durables Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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
DB:JVC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:JVC Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31 352,000 25,400 10,700 1
2023-03-31 343,000 25,100 9,300 1
2022-03-31 321,767 25,809 5,461 6
2021-03-31 314,780 24,319 4,843 7
2020-03-31 306,801 24,927 4,242 7
2019-11-14
DB:JVC Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-09-30 305,213 23,656 3,286
2019-06-30 308,657 25,672 4,457
2019-03-31 307,627 20,983 3,847
2018-12-31 309,699 22,067 4,105
2018-09-30 307,329 21,539 4,445
2018-06-30 303,955 16,567 3,860
2018-03-31 300,687 18,379 2,393
2017-12-31 301,135 20,480 5,842
2017-09-30 305,355 19,639 -1,274
2017-06-30 302,877 20,499 -5,246
2017-03-31 299,278 15,369 -6,728
2016-12-31 293,467 11,329 -1,888

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • JVCKENWOOD's earnings are expected to grow significantly at over 20% yearly.
  • JVCKENWOOD's revenue is expected to grow by 3% 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
DB:JVC 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 7 Analyst Estimates (S&P Global) See Below

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

DB:JVC Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31 65.30 65.30 65.30 1.00
2023-03-31 56.70 56.70 56.70 1.00
2022-03-31 33.33 48.20 28.50 6.00
2021-03-31 29.55 40.90 26.10 7.00
2020-03-31 25.88 29.90 23.80 7.00
2019-11-14
DB:JVC Past Financials Data
Date (Data in JPY Millions) EPS *
2019-09-30 20.10
2019-06-30 27.84
2019-03-31 25.00
2018-12-31 27.79
2018-09-30 31.33
2018-06-30 27.77
2018-03-31 17.22
2017-12-31 42.04
2017-09-30 -9.17
2017-06-30 -37.75
2017-03-31 -48.42
2016-12-31 -13.59

*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.
  • JVCKENWOOD is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess JVCKENWOOD'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 Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany 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.
JVCKENWOOD has a total score of 3/6, 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.

JVC Past Performance

  How has JVCKENWOOD 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 JVCKENWOOD'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.
  • JVCKENWOOD's year on year earnings growth rate has been positive over the past 5 years.
  • JVCKENWOOD's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • JVCKENWOOD's 1-year earnings growth is negative, it can't be compared to the DE Consumer Durables industry average.
Earnings and Revenue History
JVCKENWOOD'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 JVCKENWOOD Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:JVC Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 305,213.00 3,286.00 72,401.00
2019-06-30 308,657.00 4,457.00 73,058.00
2019-03-31 307,627.00 3,847.00 73,242.00
2018-12-31 309,699.00 4,105.00 74,681.00
2018-09-30 307,329.00 4,445.00 74,363.00
2018-06-30 303,955.00 3,860.00 73,759.00
2018-03-31 300,687.00 2,393.00 73,231.00
2017-12-31 301,135.00 5,842.00 74,279.00
2017-09-30 305,355.00 -1,274.00 74,926.00
2017-06-30 302,877.00 -5,246.00 74,427.00
2017-03-31 299,278.00 -6,728.00 74,990.00
2016-12-31 293,467.00 -1,888.00 74,055.00
2016-09-30 289,202.00 2,297.00 73,772.00
2016-06-30 290,611.00 2,971.00 75,696.00
2016-03-31 292,195.00 3,401.00 76,943.00
2015-12-31 292,607.00 -147.00 77,843.00
2015-09-30 288,995.00 3,092.00 78,431.00
2015-06-30 285,791.00 5,156.00 77,759.00
2015-03-31 285,010.00 5,099.00 78,390.00
2014-12-31 292,990.00 -1,513.00 77,322.00
2014-09-30 303,329.00 -4,272.00 77,227.00
2014-06-30 313,037.00 -7,079.00 78,262.00
2014-03-31 316,343.00 -6,572.00 79,427.00
2013-12-31 312,424.00 -2,880.00 79,202.00
2013-09-30 305,727.00 -5,107.00 79,794.00
2013-06-30 303,264.00 -1,588.00 79,886.00
2013-03-31 306,581.00 1,146.00 80,836.00
2012-12-31 308,778.00 357.00 81,249.00

*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.
  • JVCKENWOOD has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • JVCKENWOOD used its assets less efficiently than the DE Consumer Durables industry average last year based on Return on Assets.
  • JVCKENWOOD has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess JVCKENWOOD'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.
JVCKENWOOD has a total score of 2/6, 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.

JVC Health

 How is JVCKENWOOD'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 JVCKENWOOD's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • JVCKENWOOD is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • JVCKENWOOD's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of JVCKENWOOD'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 2.1x 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 JVCKENWOOD Company Filings, last reported 1 month ago.

DB:JVC Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 60,747.00 73,262.00 43,708.00
2019-06-30 62,370.00 70,131.00 40,213.00
2019-03-31 65,320.00 71,311.00 40,844.00
2018-12-31 65,276.00 70,705.00 38,465.00
2018-09-30 64,738.00 71,308.00 43,467.00
2018-06-30 56,255.00 69,313.00 34,815.00
2018-03-31 53,791.00 29,642.00 37,162.00
2017-12-31 65,589.00 67,236.00 39,564.00
2017-09-30 63,745.00 69,547.00 43,597.00
2017-06-30 60,459.00 71,586.00 44,308.00
2017-03-31 61,514.00 70,263.00 41,643.00
2016-12-31 50,611.00 71,819.00 35,010.00
2016-09-30 44,477.00 72,068.00 36,902.00
2016-06-30 47,539.00 67,797.00 35,616.00
2016-03-31 57,565.00 69,202.00 42,526.00
2015-12-31 69,604.00 72,515.00 38,624.00
2015-09-30 69,596.00 75,549.00 44,975.00
2015-06-30 77,324.00 72,129.00 45,028.00
2015-03-31 79,221.00 73,940.00 54,824.00
2014-12-31 70,651.00 73,673.00 48,119.00
2014-09-30 61,235.00 73,504.00 47,487.00
2014-06-30 56,971.00 77,517.00 48,208.00
2014-03-31 59,825.00 82,061.00 54,904.00
2013-12-31 74,018.00 85,865.00 57,520.00
2013-09-30 67,876.00 91,409.00 59,377.00
2013-06-30 71,222.00 86,977.00 58,674.00
2013-03-31 67,240.00 86,820.00 57,641.00
2012-12-31 58,561.00 85,527.00 57,122.00
  • JVCKENWOOD's level of debt (118.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (119.8% vs 118.3% today).
  • Debt is well covered by operating cash flow (32.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 14.8x coverage).
X
Financial health checks
We assess JVCKENWOOD'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. JVCKENWOOD 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.

JVC Dividends

 What is JVCKENWOOD'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
2.2%
Current annual income from JVCKENWOOD dividends. Estimated to be 2.58% next year.
If you bought €2,000 of JVCKENWOOD shares you are expected to receive €44 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?
  • JVCKENWOOD's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.38%).
  • JVCKENWOOD's dividend is below the markets top 25% of dividend payers in Germany (3.68%).
Upcoming dividend payment

Purchase JVCKENWOOD 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
DB:JVC 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 7 Analyst Estimates (S&P Global) See Below
Germany Consumer Durables Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 334 Stocks 2.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

DB:JVC Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-03-31 14.00 1.00
2023-03-31 12.00 1.00
2022-03-31 7.00 6.00
2021-03-31 6.43 7.00
2020-03-31 6.00 7.00
2019-11-14
DB:JVC Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-06-20 6.000 2.155
2019-04-26 6.000 2.561
2018-06-22 6.000 2.104
2018-04-26 6.000 1.731
2018-01-31 6.000 1.639
2017-11-02 5.000 1.333
2017-06-23 5.000 1.570
2017-04-27 5.000 1.659
2017-03-01 5.000 1.750
2016-06-24 5.000 1.850
2016-04-28 5.000 1.989
2015-06-19 5.000 1.681
2015-04-28 5.000 1.381
2015-02-12 0.000 0.000
2015-01-30 0.000 0.000
2014-10-31 0.000 0.000
2014-08-08 0.000 0.000
2014-07-31 0.000 0.000
2014-06-20 0.000 0.000
2014-04-30 0.000 0.000
2013-06-25 5.000 2.383
2013-04-26 5.000 1.949
2012-11-01 10.000 3.674
2012-08-01 10.000 3.574
2012-06-26 10.000 3.927
2012-04-27 10.000 3.667

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

  • JVCKENWOOD has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • JVCKENWOOD has only been paying a dividend for 8 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of JVCKENWOOD's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.4x 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 JVCKENWOOD's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - 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 JVCKENWOOD afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. JVCKENWOOD has a total score of 2/6, see the detailed checks below.


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

JVC Management

 What is the CEO of JVCKENWOOD'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
Scott Eguchi
AGE 64
TENURE AS CEO 0.6 years
CEO Bio

Mr. Shoichiro Eguchi, also known as Scott, has been President of JVC KENWOOD Corporation since April 2018 and served as COO of JVC KENWOOD Corp., from April 2018 to April 2019. Mr. Eguchi serves as Chief Executive Officer at JVC KENWOOD Corporation since April 2019. He served as an Executive Vice President, Chief Operating Officer of Automotive Sector and Chief Operating Officer of EMEA(Europe, Middle East & Africa) at JVC KENWOOD Corporation since June 24, 2016 until April 2018. Mr. Eguchi served as Chief Executive Officer of Europe at JVC KENWOOD Corporation since May 14, 2014. Mr. Eguchi served as Chief Executive Officer, Chief Risk Officer and General Executive of Strategic Design Division at JVC KENWOOD Corporation (formerly JVC KENWOOD Holdings, Inc.)until May 14, 2014 and served as its Chairman of Growth Strategy Promotion Conference. Mr. Eguchi served as the Deputy President, Senior Executive Vice President and General Executive of Strategic Corporate Planning Division at JVC KENWOOD Corporation (formerly JVC KENWOOD Holdings, Inc.). He served as a Senior Vice President of JVC KENWOOD Corporation. Mr. Eguchi served as President of J&K Car Electronics Corporation. He served as President of Kenwood U. S. A. Corporation from November 2005 to July 2009. He joined Kenwood Corporation in 1979, serving in various senior management positions in Europe, Asia and the United States. He serves as Chairman and Director of Kenwood U. S. A. Corporation. He has been Representative Director at JVC KENWOOD Corporation since June 24, 2016. He graduated from Waseda University with a Degree in Commerce.

CEO Compensation
  • Insufficient data for Scott to compare compensation growth.
  • Insufficient data for Scott to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

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

0.6
Average Tenure
60
Average Age
  • The average tenure for the JVCKENWOOD management team is less than 2 years, this suggests a new team.
Management Team

Scott Eguchi

TITLE
President
AGE
64
TENURE
0.6 yrs

Masatoshi Miyamoto

TITLE
CFO, Senior Managing Executive Officer & Director
AGE
56

Yoshio Sonoda

TITLE
Exec. Officer
AGE
55
TENURE
0.6 yrs

Naokazu Kurihara

TITLE
Managing Executive Officer & COO of Americas
AGE
61

Akira Suzuki

TITLE
Managing Executive Officer & COO of Public Service Sector
AGE
62
TENURE
0.6 yrs

Masaki Imai

TITLE
Executive VP
AGE
67

Sam Muraoka

TITLE
Deputy Chief Executive Officer of Audio/Video Division

Sean Takada

TITLE
Managing Executive Officer & Assistant to Head of Administrative Division
AGE
60

Yasuyuki Tanida

TITLE
Director
AGE
53
TENURE
3.3 yrs

Takuya Arai

TITLE
Managing Exec. Officer
AGE
58
TENURE
3.4 yrs
Board of Directors Tenure

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

3.4
Average Tenure
65.5
Average Age
  • The tenure for the JVCKENWOOD board of directors is about average.
Board of Directors

Yasuyuki Abe

TITLE
Chairman of the Board
TENURE
3.4 yrs

Takao Tsuji

TITLE
Chairman of the Board
AGE
70
TENURE
1.6 yrs

Scott Eguchi

TITLE
President
AGE
64
TENURE
3.4 yrs

Masatoshi Miyamoto

TITLE
CFO, Senior Managing Executive Officer & Director
AGE
56
TENURE
2.4 yrs

Masaki Imai

TITLE
Executive VP
AGE
67
TENURE
2.4 yrs

Yasuyuki Tanida

TITLE
Director
AGE
53
TENURE
4 yrs

Junichi Hikita

TITLE
External Director
TENURE
7.4 yrs

Shinjiro Iwata

TITLE
External Director
AGE
71
TENURE
2.4 yrs

Satoshi Fujita

TITLE
Audit & Supervisory Board Member

Takayoshi Sakamoto

TITLE
Audit & Supervisory Board Member
TENURE
7.4 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 (€) Value (€)
X
Management checks
We assess JVCKENWOOD'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. JVCKENWOOD 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.

JVC News

Simply Wall St News

JVC Company Info

Description

JVC KENWOOD Corporation manufactures and sells electronic and entertainment products in Japan, the Americas, Europe, Asia, and internationally. It operates in three segments: Automotive Sector, Public Service Sector, and Media Service Sector. The Automotive Sector manufactures and sells car AV systems, car navigation systems, camera devices for automobiles, etc. It also provides car audio, display audio systems, dashcams, in-car cameras, in-car optical pickups, CD/DVD mechanisms for vehicles, speakers, amplifiers, antennas, and other products. The Public Service Sector segment manufactures and sells professional wireless communications devices, video surveillance equipment, audio equipment, medical image display systems, etc. It also provides professional radio systems, amateur radio systems, security cameras, broadcasting equipment, medical image display monitors, exsome analysis systems, Gazefinder, and other products. The Media Service Sector segment manufactures and sells professional video cameras, projectors, AV accessories, commercial video cameras, home audio equipment, etc.; plans, produces, and sells audio and video software, etc.; and manufactures CDs and DVDs, Blu-ray products, etc., as well as imaging devices, audio and video content/OEM products, and other products. It is also involved in the music, sound design solution, management, live concerts and events, and merchandising businesses. The company was formerly known as JVC KENWOOD Holdings, Inc. and changed its name to JVC KENWOOD Corporation in August 2011. JVC KENWOOD Corporation was founded in 1927 and is headquartered in Yokohama, Japan.

Details
Name: JVCKENWOOD Corporation
JVC
Exchange: DB
Founded: 1927
¥374,823,138
163,942,496
Website: http://www.jvckenwood.com
Address: JVCKENWOOD Corporation
3-12, Moriyacho,
Kanagawa-ku,
Yokohama,
Kanagawa, 221-0022,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 6632 Common Stock The Tokyo Stock Exchange JP JPY 01. Oct 2008
DB JVC Common Stock Deutsche Boerse AG DE EUR 01. Oct 2008
OTCPK JVCZ.Y UNSPONSORD ADS Pink Sheets LLC US USD 29. Nov 2011
Number of employees
Current staff
Staff numbers
16,939
JVCKENWOOD employees.
Industry
Consumer Electronics
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/14 21:37
End of day share price update: 2019/11/14 00:00
Last estimates confirmation: 2019/11/07
Last earnings filing: 2019/11/12
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.