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Panasonic

DB:MATA
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MATA
DB
¥2,336B
Market Cap
  1. Home
  2. DE
  3. Consumer Durables
Company description

Panasonic Corporation, together with its subsidiaries, develops, produces, sells, and services electrical and electronic products under the Panasonic brand name worldwide. The last earnings update was 5 days ago. More info.


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MATA Share Price and Events
7 Day Returns
1.2%
DB:MATA
0.5%
DE Consumer Durables
-0.3%
DE Market
1 Year Returns
0.2%
DB:MATA
4%
DE Consumer Durables
10.4%
DE Market
MATA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Panasonic (MATA) 1.2% 17.4% 21.6% 0.2% -2.9% -
DE Consumer Durables 0.5% 5.1% 4.1% 4% -3% 13.6%
DE Market -0.3% 4.2% 12.4% 10.4% 13.9% 17.1%
1 Year Return vs Industry and Market
  • MATA underperformed the Consumer Durables industry which returned 4% over the past year.
  • MATA underperformed the Market in Germany which returned 10.4% over the past year.
Price Volatility
MATA
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Panasonic 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 Panasonic 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 Panasonic.

DB:MATA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 17 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.1%
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:MATA
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))
= 0.812 (1 + (1- 30.86%) (75.57%))
1.158
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.16
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.158 * 5.96%)
7.13%

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

The calculations below outline how an intrinsic value for Panasonic 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:MATA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 7.13%)
2020 162,418.67 Analyst x3 151,609.09
2021 153,278.36 Analyst x11 133,554.79
2022 150,297.38 Analyst x8 122,241.68
2023 179,824.75 Analyst x4 136,523.26
2024 193,051.50 Analyst x4 136,810.58
2025 201,984.87 Est @ 4.63% 133,614.82
2026 208,665.76 Est @ 3.31% 128,847.58
2027 213,639.79 Est @ 2.38% 123,139.26
2028 217,350.74 Est @ 1.74% 116,940.47
2029 220,142.20 Est @ 1.28% 110,559.56
Present value of next 10 years cash flows ¥1,293,841.00
DB:MATA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥220,142.20 × (1 + 0.23%) ÷ (7.13% – 0.23%)
¥3,196,860.45
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥3,196,860.45 ÷ (1 + 7.13%)10
¥1,605,523.52
DB:MATA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥1,293,841.00 + ¥1,605,523.52
¥2,899,364.52
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥2,899,364.52 / 2,332.85
¥1242.84
DB:MATA Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:MATA represents 0.00844x of TSE:6752
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00844x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 1,242.84 x 0.00844
€10.49
Value per share (EUR) From above. €10.49
Current discount Discount to share price of €8.45
= -1 x (€8.45 - €10.49) / €10.49
19.4%

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

Current Discount
Amount off the current price Panasonic is available for.
Intrinsic value
19%
Share price is €8.45 vs Future cash flow value of €10.49
Current Discount Checks
For Panasonic to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Panasonic's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Panasonic's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Panasonic's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Panasonic's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:MATA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in JPY ¥116.38
TSE:6752 Share Price ** TSE (2019-11-19) in JPY ¥1001.5
Germany Consumer Durables Industry PE Ratio Median Figure of 8 Publicly-Listed Consumer Durables Companies 16.53x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 19.74x

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

** Primary Listing of Panasonic.

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

= TSE:6752 Share Price ÷ EPS (both in JPY)

= 1001.5 ÷ 116.38

8.61x

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

  • Panasonic is good value based on earnings compared to the DE Consumer Durables industry average.
  • Panasonic is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Panasonic's expected growth come at a high price?
Raw Data
DB:MATA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.61x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts
4.8%per year
Germany Consumer Durables Industry PEG Ratio Median Figure of 5 Publicly-Listed Consumer Durables Companies 1x
Germany Market PEG Ratio Median Figure of 258 Publicly-Listed Companies 1.36x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.61x ÷ 4.8%

1.79x

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

  • Panasonic is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Panasonic's assets?
Raw Data
DB:MATA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in JPY ¥800.04
TSE:6752 Share Price * TSE (2019-11-19) in JPY ¥1001.5
Germany Consumer Durables Industry PB Ratio Median Figure of 12 Publicly-Listed Consumer Durables Companies 1.69x
Germany Market PB Ratio Median Figure of 578 Publicly-Listed Companies 1.88x
DB:MATA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:6752 Share Price ÷ Book Value per Share (both in JPY)

= 1001.5 ÷ 800.04

1.25x

* Primary Listing of Panasonic.

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

  • Panasonic is good value based on assets compared to the DE Consumer Durables industry average.
X
Value checks
We assess Panasonic'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. Panasonic has a total score of 3/6, 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.

Future Performance

 How is Panasonic expected to perform in the next 1 to 3 years based on estimates from 17 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
4.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Panasonic expected to grow at an attractive rate?
  • Panasonic's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Panasonic's earnings growth is positive but not above the Germany market average.
  • Panasonic's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:MATA Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:MATA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts 4.8%
DB:MATA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 17 Analysts 0.6%
Germany Consumer Durables Industry Earnings Growth Rate Market Cap Weighted Average 14%
Germany Consumer Durables Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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:MATA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:MATA Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31 8,044,577 537,424 239,606 5
2023-03-31 7,900,300 525,697 227,914 5
2022-03-31 7,700,894 480,938 211,764 14
2021-03-31 7,714,760 508,032 195,414 17
2020-03-31 7,793,861 504,784 190,418 15
2019-11-19
DB:MATA Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-09-30 7,838,979 314,830 271,449
2019-06-30 7,885,127 271,955 276,566
2019-03-31 8,002,733 203,677 284,149
2018-12-31 8,152,983 237,045 209,644
2018-09-30 8,132,478 312,582 230,748
2018-06-30 8,125,624 381,344 244,641
2018-03-31 7,982,164 423,182 236,040
2017-12-31 7,833,488 519,347 152,012
2017-09-30 7,661,767 485,528 134,816
2017-06-30 7,460,469 437,714 176,378
2017-03-31 7,343,707 385,410 149,360
2016-12-31 7,304,788 306,289 230,495

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Panasonic's earnings are expected to grow by 4.8% yearly, however this is not considered high growth (20% yearly).
  • Panasonic's revenue is expected to grow by 0.6% 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
DB:MATA 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 17 Analyst Estimates (S&P Global) See Below

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

DB:MATA Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31 102.73 117.05 90.90 5.00
2023-03-31 97.73 105.90 92.44 5.00
2022-03-31 90.91 111.01 63.00 15.00
2021-03-31 83.30 122.27 65.00 17.00
2020-03-31 80.27 110.48 66.13 17.00
2019-11-19
DB:MATA Past Financials Data
Date (Data in JPY Millions) EPS *
2019-09-30 116.38
2019-06-30 118.58
2019-03-31 121.83
2018-12-31 89.89
2018-09-30 98.93
2018-06-30 104.89
2018-03-31 101.20
2017-12-31 65.23
2017-09-30 57.92
2017-06-30 75.87
2017-03-31 64.33
2016-12-31 99.31

*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.
  • Panasonic is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Panasonic'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.
Panasonic has a total score of 1/6, 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.

Past Performance

  How has Panasonic 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 Panasonic'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.
  • Panasonic's year on year earnings growth rate has been positive over the past 5 years.
  • Panasonic's 1-year earnings growth exceeds its 5-year average (17.6% vs 16.1%)
  • Panasonic's earnings growth has exceeded the DE Consumer Durables industry average in the past year (17.6% vs -18.6%).
Earnings and Revenue History
Panasonic'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 Panasonic Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MATA 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 7,838,979.00 271,449.00 1,924,362.00
2019-06-30 7,885,127.00 276,566.00 1,932,812.00
2019-03-31 8,002,733.00 284,149.00 1,941,769.00
2018-12-31 8,152,983.00 209,644.00 1,952,261.00
2018-09-30 8,132,478.00 230,748.00 1,953,430.00
2018-06-30 8,125,624.00 244,641.00 1,952,585.00
2018-03-31 7,982,164.00 236,040.00 1,941,267.00
2017-12-31 7,833,488.00 152,012.00 1,935,142.00
2017-09-30 7,661,767.00 134,816.00 1,902,187.00
2017-06-30 7,460,469.00 176,378.00 1,880,488.00
2017-03-31 7,343,707.00 149,360.00 1,846,942.00
2016-12-31 7,304,788.00 230,495.00 1,808,955.00
2016-09-30 7,333,093.00 215,378.00 1,799,017.00
2016-06-30 7,444,387.00 155,478.00 1,785,436.00
2016-03-31 7,553,717.00 193,256.00 1,798,009.00
2015-12-31 7,667,018.00 199,285.00 1,809,335.00
2015-09-30 7,752,582.00 209,885.00 1,821,282.00
2015-06-30 7,720,600.00 201,075.00 1,815,013.00
2015-03-31 7,715,037.00 179,485.00 1,805,911.00
2014-12-31 7,776,063.00 17,848.00 1,827,426.00
2014-09-30 7,753,104.00 32,041.00 1,814,847.00
2014-06-30 7,764,306.00 50,540.00 1,806,766.00
2014-03-31 7,736,541.00 120,442.00 1,792,558.00
2013-12-31 7,543,193.00 112,594.00 1,738,529.00
2013-09-30 7,371,205.00 100,254.00 1,721,735.00
2013-06-30 7,313,062.00 -659,228.00 1,721,231.00
2013-03-31 7,303,045.00 -754,250.00 1,722,221.00
2012-12-31 7,320,481.00 -1,062,183.00 1,759,442.00

*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.
  • Panasonic has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Panasonic used its assets less efficiently than the DE Consumer Durables industry average last year based on Return on Assets.
  • Panasonic's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Panasonic'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.
Panasonic 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.

Health

 How is Panasonic'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 Panasonic's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Panasonic is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Panasonic's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Panasonic'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 3.1x 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 Panasonic Company Filings, last reported 1 month ago.

DB:MATA Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 2,025,414.00 1,138,000.00 956,326.00
2019-06-30 1,996,235.00 945,482.00 808,275.00
2019-03-31 2,084,615.00 983,051.00 903,569.00
2018-12-31 1,979,560.00 1,157,658.00 1,022,852.00
2018-09-30 1,995,128.00 1,332,003.00 1,269,042.00
2018-06-30 1,919,394.00 1,286,405.00 1,302,434.00
2018-03-31 1,882,285.00 1,218,679.00 1,293,142.00
2017-12-31 1,926,481.00 1,157,940.00 1,159,374.00
2017-09-30 1,875,631.00 1,155,255.00 1,179,608.00
2017-06-30 1,798,723.00 1,154,388.00 1,246,090.00
2017-03-31 1,759,935.00 1,096,358.00 1,414,306.00
2016-12-31 1,981,804.00 1,124,818.00 1,146,300.00
2016-09-30 1,727,857.00 1,125,102.00 1,022,012.00
2016-06-30 1,663,365.00 725,503.00 688,048.00
2016-03-31 1,854,314.00 692,659.00 1,014,410.00
2015-12-31 2,083,416.00 935,995.00 1,157,934.00
2015-09-30 2,061,170.00 942,743.00 1,159,050.00
2015-06-30 2,107,054.00 939,548.00 1,269,993.00
2015-03-31 1,992,552.00 972,916.00 1,298,878.00
2014-12-31 1,945,594.00 582,636.00 824,235.00
2014-09-30 1,747,985.00 602,937.00 636,208.00
2014-06-30 1,587,793.00 641,493.00 635,809.00
2014-03-31 1,586,438.00 642,112.00 592,467.00
2013-12-31 1,684,934.00 868,801.00 520,151.00
2013-09-30 1,507,130.00 981,751.00 458,602.00
2013-06-30 1,304,273.00 1,143,395.00 497,957.00
2013-03-31 1,304,273.00 1,143,395.00 497,957.00
2012-12-31 1,382,881.00 1,519,680.00 541,919.00
  • Panasonic's level of debt (56.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (34.4% vs 56.2% today).
  • Debt is well covered by operating cash flow (27.7%, greater than 20% of total debt).
  • Panasonic earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Panasonic'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. Panasonic 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.

Dividends

 What is Panasonic'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
3%
Current annual income from Panasonic dividends. Estimated to be 3.07% next year.
If you bought €2,000 of Panasonic shares you are expected to receive €60 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?
  • Panasonic's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.35%).
  • Panasonic's dividend is below the markets top 25% of dividend payers in Germany (3.72%).
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:MATA 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 17 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 335 Stocks 2.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.3%
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:MATA Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-03-31 36.25 4.00
2023-03-31 35.00 4.00
2022-03-31 30.92 13.00
2021-03-31 29.69 16.00
2020-03-31 29.20 15.00
2019-11-19
DB:MATA Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-11-14 30.000 3.009
2019-10-31 30.000 2.997
2019-07-01 30.000 3.414
2019-05-09 30.000 3.386
2018-07-02 30.000 2.614
2018-05-10 30.000 1.945
2017-06-30 25.000 1.564
2017-05-11 25.000 1.731
2016-06-27 30.000 2.688
2016-04-28 30.000 3.176
2016-02-16 20.000 2.075
2016-02-05 20.000 2.271
2015-11-12 20.000 1.638
2015-11-02 20.000 1.418
2015-06-26 20.000 1.434
2015-06-04 20.000 1.146
2015-02-12 16.000 1.003
2015-02-03 16.000 1.202
2014-11-12 16.000 1.119
2014-06-27 16.000 1.272
2014-04-28 16.000 1.417
2014-02-13 10.000 0.847
2014-02-04 10.000 0.842
2013-11-14 10.000 0.842
2013-10-31 10.000 0.989
2013-08-07 0.000 0.000
2013-07-31 0.000 0.000
2013-06-27 0.000 0.000
2013-05-10 0.000 0.000
2013-02-14 0.000 0.000
2013-02-01 0.000 0.000
2012-11-14 0.000 0.000
2012-11-02 0.000 0.000
2012-10-31 0.000 0.000
2012-06-28 10.000 1.844
2012-05-15 10.000 1.797
2012-02-16 10.000 1.455
2012-02-03 10.000 1.548
2011-10-31 10.000 1.489
2011-06-30 10.000 1.222
2011-04-28 10.000 1.052
2011-02-16 10.000 0.969
2011-02-07 10.000 0.906
2011-02-02 10.000 0.913
2010-10-29 10.000 0.849
2010-05-10 10.000 0.873
2009-10-30 10.000 0.756
2009-05-15 10.000 0.744
2009-02-13 30.000 2.491
2009-02-04 30.000 2.723

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • No dividend growth in 10 years.
Current Payout to shareholders
What portion of Panasonic's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.9x 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 Panasonic'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 Panasonic afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Panasonic 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.

Management

 What is the CEO of Panasonic'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
Kazuhiro Tsuga
COMPENSATION ¥255,000,000
AGE 63
TENURE AS CEO 2.4 years
CEO Bio

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 since April 2011. He served as Senior Managing Director of Panasonic Corporation since June 2011. He served as the President of Panasonic Automotive Systems Company since April 2008. He served as an Executive Officer/ In charge of Digital Network and Software Technologies of Panasonic Corporation since June 2004. He served as Managing Executive Officer of the Panasonic Corporation from April 2008 to 2011. He serves as President of Panasonic Asia Pacific Pte. Ltd. During this time, he revived Panasonic's automotive electronics business and laid the foundation for its expansion, taking it in new directions, including devices and systems for more eco-responsible vehicles. Before being named to that post, he held positions of increasing management responsibility within the Panasonic Corporation, particularly in technology management. In 2006, as an Executive Officer, he led Panasonic's efforts in digital network and software technology development and directed its overseas R&D Centers and Digital Network Strategic Planning Office. From 2001 to 2004, he directed the Advanced Appliances Development Center for audiovisual technologies. Along with his internal Panasonic responsibilities, he actively contributed to advancing major industry efforts, including the standardization of the DVD and Blu-ray Disc formats, the formation of the Digital Living Network Alliance and other initiatives. He has been a Representative Director of Panasonic Corporation since June 2017. He joined Panasonic, then known as Matsushita Electric Industrial Co., Ltd., in April 1979, upon graduation from Osaka University with a BS in Bioengineering. While with the Panasonic Corporation, he had the opportunity to study in the United States, earning an MS in Computer Science from the University of California, Santa Barbara, in 1986. His Profile: June 2001 Director of Multimedia Development Center of Panasonic Corporation Apr. 2011 Senior Managing Executive Officer of Panasonic Corporation

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

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

2.4
Average Tenure
62
Average Age
  • The tenure for the Panasonic management team is about average.
Management Team

Kazuhiro Tsuga

TITLE
CEO, President & Representative Director
COMPENSATION
¥255M
AGE
63
TENURE
2.4 yrs

Mototsugu Sato

TITLE
Executive VP
COMPENSATION
¥141M
AGE
63
TENURE
4.6 yrs

Yasuyuki Higuchi

TITLE
Senior Managing Executive Officer & Representative Director
COMPENSATION
¥151M
AGE
62
TENURE
2.6 yrs

Hirokazu Umeda

TITLE
CFO, Managing Executive Officer & Director
AGE
57
TENURE
2.3 yrs

Tom Korte

TITLE
Senior Vice President of Operations

Sumitaka Yoshitomi

TITLE
General Manager of Accounting & Business Performance Management Office

Yoshiyuki Miyabe

TITLE
Senior Managing Executive Officer
COMPENSATION
¥114M
AGE
62
TENURE
2.3 yrs

Hiroshi Sakakibara

TITLE
Chief Digital Officer & Chief Information Officer
TENURE
0.9 yrs

Kazuhiro Matsushita

TITLE
General Manager of Planning and Administration Department

Masahito Yamamura

TITLE
General Manager of Investor Relations
Board of Directors Tenure

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

2.9
Average Tenure
63
Average Age
  • The average tenure for the Panasonic board of directors is less than 3 years, this suggests a new board.
Board of Directors

Shusaku Nagae

TITLE
Chairman of the Board
COMPENSATION
¥118M
AGE
69
TENURE
6.4 yrs

Kazuhiro Tsuga

TITLE
CEO, President & Representative Director
COMPENSATION
¥255M
AGE
63
TENURE
2.4 yrs

Mototsugu Sato

TITLE
Executive VP
COMPENSATION
¥141M
AGE
63
TENURE
5.4 yrs

Yasuyuki Higuchi

TITLE
Senior Managing Executive Officer & Representative Director
COMPENSATION
¥151M
AGE
62
TENURE
2.3 yrs

Hirokazu Umeda

TITLE
CFO, Managing Executive Officer & Director
AGE
57
TENURE
2.3 yrs

Laurence W. Bates

TITLE
General Counsel
TENURE
1.4 yrs

Tetsuro Homma

TITLE
Senior Managing Executive Officer & Representative Director
COMPENSATION
¥118M
AGE
58
TENURE
0.8 yrs

Hiroko Ota

TITLE
Independent Outside Director
AGE
65
TENURE
6.4 yrs

Yoshinobu Tsutsui

TITLE
Independent Outside Director
AGE
65
TENURE
4.4 yrs

Kazuhiko Toyama

TITLE
Independent Outside Director
AGE
59
TENURE
3.4 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 Panasonic'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. Panasonic 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.

News

Simply Wall St News

Company Info

Description

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.

Details
Name: Panasonic Corporation
MATA
Exchange: DB
Founded: 1918
¥19,433,181,320
2,332,853,598
Website: http://www.panasonic.com/jp/top.html
Address: Panasonic Corporation
1006, Oaza Kadoma,
Kadoma,
Osaka, 571-8501,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 6752 Common Stock The Tokyo Stock Exchange JP JPY 02. Jan 1992
OTCPK PCRF.F Common Stock Pink Sheets LLC US USD 02. Jan 1992
DB MAT1 Common Stock Deutsche Boerse AG DE EUR 02. Jan 1992
WBAG MAT1 Common Stock Wiener Boerse AG AT EUR 02. Jan 1992
OTCPK PCRF.Y ADR-EACH CNV INTO 1 ORD NPV Pink Sheets LLC US USD 11. Jan 1972
DB MATA ADR-EACH CNV INTO 1 ORD NPV Deutsche Boerse AG DE EUR 11. Jan 1972
Number of employees
Current staff
Staff numbers
271,678
Panasonic employees.
Industry
Consumer Electronics
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/19 21:31
End of day share price update: 2019/11/19 00:00
Last estimates confirmation: 2019/11/18
Last earnings filing: 2019/11/14
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.