PANASONIC HOLDINGS CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,384 JPY | +3.28% |
|
+3.59% | -0.93% |
| May. 31 | Panasonic Manufacturing Malaysia Declares Final Dividend | MT |
| May. 28 | Panasonic Energy India Turns to Profit in Fiscal Q4; Shares Jump 5% | MT |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,225,542 | 1,924,610 | 3,321,414 | 2,773,723 | 2,758,854 | 3,229,545 | - | - |
| Enterprise Value (EV) 1 | 2,451,999 | 2,230,981 | 2,917,708 | 3,198,453 | 3,396,462 | 3,880,927 | 3,788,395 | 3,687,384 |
| P/E ratio | 7.83 x | 8.53 x | 20.1 x | 10.9 x | 10.4 x | 7.6 x | 9.12 x | 7.68 x |
| Yield | 3.14% | 3.64% | 1.4% | 2.52% | 2.54% | 2.42% | 2.8% | 3.12% |
| Capitalization / Revenue | 0.28 x | 0.26 x | 0.5 x | 0.38 x | 0.33 x | 0.4 x | 0.37 x | 0.37 x |
| EV / Revenue | 0.31 x | 0.3 x | 0.44 x | 0.43 x | 0.41 x | 0.46 x | 0.44 x | 0.42 x |
| EV / EBITDA | 3.47 x | 3.35 x | 5.06 x | 4.59 x | 5.06 x | 5.1 x | 4.34 x | 3.79 x |
| EV / FCF | 238 x | 9.95 x | 4.29 x | -5.88 x | 16 x | 13.5 x | 48 x | 12.9 x |
| FCF Yield | 0.42% | 10% | 23.3% | -17% | 6.23% | 7.42% | 2.08% | 7.74% |
| Price to Book | 1.16 x | 0.96 x | 1.28 x | 0.88 x | 0.76 x | 0.74 x | 0.71 x | 0.67 x |
| Nbr of stocks (in thousands) | 2,332,364 | 2,332,860 | 2,333,273 | 2,333,802 | 2,334,056 | 2,334,330 | - | - |
| Reference price 2 | 954.2 | 825.0 | 1,424 | 1,188 | 1,182 | 1,384 | 1,384 | 1,384 |
| Announcement Date | 5/9/19 | 5/18/20 | 5/10/21 | 5/11/22 | 5/10/23 | 5/9/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 8,002,733 | 7,490,601 | 6,698,794 | 7,388,791 | 8,378,942 | 8,496,420 | 8,697,355 | 8,824,026 |
| EBITDA 1 | 707,539 | 666,726 | 576,172 | 696,674 | 670,859 | 760,946 | 872,101 | 974,185 |
| EBIT 1 | 411,498 | 293,751 | 258,600 | 357,526 | 288,570 | 360,962 | 434,943 | 529,508 |
| Operating Margin | 5.14% | 3.92% | 3.86% | 4.84% | 3.44% | 4.25% | 5% | 6% |
| Earnings before Tax (EBT) 1 | 416,456 | 291,050 | 260,820 | 360,395 | 316,409 | 425,239 | 466,440 | 560,127 |
| Net income 1 | 284,149 | 225,707 | 165,077 | 255,334 | 265,502 | 443,994 | 355,441 | 421,568 |
| Net margin | 3.55% | 3.01% | 2.46% | 3.46% | 3.17% | 5.23% | 4.09% | 4.78% |
| EPS 2 | 121.8 | 96.76 | 70.75 | 109.4 | 113.8 | 190.2 | 151.8 | 180.2 |
| Free Cash Flow 1 | 10,290 | 224,207 | 680,634 | -543,519 | 211,642 | 288,055 | 78,971 | 285,249 |
| FCF margin | 0.13% | 2.99% | 10.16% | -7.36% | 2.53% | 3.39% | 0.91% | 3.23% |
| FCF Conversion (EBITDA) | 1.45% | 33.63% | 118.13% | - | 31.55% | 37.85% | 9.06% | 29.28% |
| FCF Conversion (Net income) | 3.62% | 99.34% | 412.31% | - | 79.71% | 64.88% | 22.22% | 67.66% |
| Dividend per Share 2 | 30.00 | 30.00 | 20.00 | 30.00 | 30.00 | 35.00 | 38.75 | 43.18 |
| Announcement Date | 5/9/19 | 5/18/20 | 5/10/21 | 5/11/22 | 5/10/23 | 5/9/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2024 S2 | 2025 Q1 | 2025 Q2 | 2025 S1 | 2025 Q3 | 2025 Q4 | 2025 S2 | 2026 S1 | 2026 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,844,424 | 3,646,177 | 3,059,155 | 3,639,639 | 1,741,133 | 3,533,554 | 1,889,802 | 1,965,435 | 3,855,237 | 1,973,861 | 2,090,068 | 4,063,929 | 2,160,592 | 2,154,421 | 4,315,013 | 2,029,694 | 2,089,730 | 4,119,424 | 2,180,882 | 2,196,114 | 4,376,996 | 2,045,892 | 2,115,952 | 4,240,000 | 2,227,276 | 2,187,681 | 4,400,000 | - | - |
| EBITDA | - | - | - | - | 177,624 | - | 160,767 | 176,826 | - | 156,858 | 181,431 | - | 180,740 | 151,830 | - | 186,786 | 201,380 | - | 227,731 | - | - | 205,569 | 217,644 | - | 239,955 | - | - | - | - |
| EBIT 1 | 140,292 | 153,459 | 96,627 | 161,973 | 96,825 | 201,202 | 72,949 | 83,375 | 156,324 | 63,700 | 86,059 | 149,759 | 84,461 | 54,350 | 138,811 | 90,372 | 102,463 | 192,835 | 127,422 | 40,705 | 168,127 | 94,863 | 102,977 | 218,000 | 123,223 | 86,817 | 242,000 | - | - |
| Operating Margin | 3.65% | 4.21% | 3.16% | 4.45% | 5.56% | 5.69% | 3.86% | 4.24% | 4.05% | 3.23% | 4.12% | 3.69% | 3.91% | 2.52% | 3.22% | 4.45% | 4.9% | 4.68% | 5.84% | 1.85% | 3.84% | 4.64% | 4.87% | 5.14% | 5.53% | 3.97% | 5.5% | - | - |
| Earnings before Tax (EBT) 1 | 137,904 | 153,146 | 93,175 | 167,645 | 97,228 | 205,762 | 73,614 | 81,019 | 154,633 | 73,544 | 93,076 | 166,620 | 88,827 | 60,962 | 149,789 | 108,733 | 115,598 | 224,331 | 144,453 | 56,455 | 200,908 | 108,202 | 113,498 | 228,000 | 139,867 | 101,433 | 252,000 | - | - |
| Net income 1 | 100,919 | 124,788 | 48,864 | 116,213 | 76,506 | 153,043 | 42,591 | 59,700 | 102,291 | 48,949 | 58,388 | 107,337 | 55,533 | 102,632 | 158,165 | 200,925 | 87,454 | 288,379 | 110,799 | 44,816 | 155,615 | 77,167 | 83,435 | 175,750 | 103,437 | 85,272 | 194,950 | - | - |
| Net margin | 2.63% | 3.42% | 1.6% | 3.19% | 4.39% | 4.33% | 2.25% | 3.04% | 2.65% | 2.48% | 2.79% | 2.64% | 2.57% | 4.76% | 3.67% | 9.9% | 4.18% | 7% | 5.08% | 2.04% | 3.56% | 3.77% | 3.94% | 4.15% | 4.64% | 3.9% | 4.43% | - | - |
| EPS 2 | 43.27 | 53.49 | 20.94 | 49.81 | 32.79 | 65.59 | 18.00 | 25.82 | 43.82 | 20.97 | 25.02 | 45.99 | 23.79 | 43.97 | 67.76 | 86.06 | 37.47 | 123.6 | 47.46 | 19.20 | 66.66 | 28.74 | 32.00 | 75.30 | 38.63 | 32.34 | 83.50 | - | - |
| Dividend per Share 2 | 15.00 | 15.00 | 10.00 | 10.00 | 15.00 | 15.00 | - | 15.00 | 15.00 | - | 15.00 | 15.00 | - | 15.00 | 15.00 | - | 17.50 | 17.50 | - | 17.50 | 17.50 | - | 15.00 | 20.00 | - | 20.00 | 20.00 | 25.00 | 25.00 |
| Announcement Date | 10/31/19 | 5/18/20 | 10/29/20 | 5/10/21 | 10/28/21 | 10/28/21 | 2/2/22 | 5/11/22 | 5/11/22 | 7/28/22 | 10/31/22 | 10/31/22 | 2/2/23 | 5/10/23 | 5/10/23 | 7/31/23 | 10/30/23 | 10/30/23 | 2/2/24 | 5/9/24 | 5/9/24 | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 226,457 | 306,371 | - | 424,730 | 637,608 | 506,654 | 558,850 | 457,839 |
| Net Cash position 1 | - | - | 403,706 | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.3201 x | 0.4595 x | - | 0.6097 x | 0.9504 x | 0.6658 x | 0.6408 x | 0.47 x |
| Free Cash Flow 1 | 10,290 | 224,207 | 680,634 | -543,519 | 211,642 | 288,055 | 78,971 | 285,249 |
| ROE (net income / shareholders' equity) | 15.7% | 11.5% | 7.2% | 8.9% | 7.8% | 10.9% | 8.15% | 9.11% |
| ROA (Net income/ Total Assets) | 6.77% | 4.76% | 3.99% | 4.85% | 3.93% | 4.87% | 4.3% | 4.88% |
| Assets 1 | 4,197,892 | 4,743,089 | 4,134,709 | 5,267,812 | 6,747,758 | 9,120,628 | 8,262,379 | 8,645,656 |
| Book Value Per Share 2 | 820.0 | 857.0 | 1,112 | 1,356 | 1,550 | 1,947 | 1,946 | 2,078 |
| Cash Flow per Share 2 | 249.0 | 257.0 | 207.0 | 255.0 | 278.0 | 362.0 | 324.0 | 359.0 |
| Capex 1 | 316,083 | 273,920 | 231,118 | 233,967 | 309,100 | 547,470 | 621,953 | 508,255 |
| Capex / Sales | 3.95% | 3.66% | 3.45% | 3.17% | 3.69% | 6.44% | 7.15% | 5.76% |
| Announcement Date | 5/9/19 | 5/18/20 | 5/10/21 | 5/11/22 | 5/10/23 | 5/9/24 | - | - |
1JPY in Million2JPY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
17
Last Close Price
1,384
JPY
Average target price
1,836
JPY
Spread / Average Target
+32.73%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -0.93% | 20.54B | |
| -3.84% | 100B | |
| +43.09% | 6.74B | |
| +26.43% | 4.6B | |
| +17.99% | 4.11B | |
| -3.51% | 4.01B | |
| -6.99% | 3.14B | |
| -11.29% | 3.09B | |
| +26.17% | 3.02B | |
| +39.48% | 2.13B |
- Stock Market
- Equities
- 6752 Stock
- Financials Panasonic Holdings Corporation
