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Diversified electronics maker: home appliances, EV batteries (major Tesla supplier), automotive systems and housing.
Diversified electronics maker: home appliances, EV batteries (major Tesla supplier), automotive systems and housing.
Panasonic Energy's cylindrical battery cells, mostly sold to Tesla from a jointly run Nevada plant, are the growth line, while appliances and building products provide steadier domestic sales. It moved to a holding-company structure in 2022, with each business as a separate subsidiary, and has been selling or shrinking weaker units.
In one line: A Japanese Samsung Electronics/LG Energy Solution hybrid.
Moat: narrow (customer qualification, scale, process know-how). Deep Tesla battery qualification and manufacturing scale, but faces intense Korean/Chinese battery competition.
Headquarters: Osaka, Japan · Founded: 1918 · Employees: 183,685
Size Panasonic (6752.T) is a Japan Information Technology company (Electronics/Appliances) with a market value of $44.5B, the 34th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,008 on 6 Nov 2026.
Performance Over six months the shares fell 6.1%, against +3.2% for the median peer and +1.8% for the Japan market (cap-weighted) — 5th lowest of 17 in its peer set.
Growth Revenue grew 3.7% over the last twelve months (peer median +16.1%); the operating margin is 8.0% (peer median 22.1%).
Valuation It trades at 13.5× forward earnings against a peer median of 23.1× (4th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is +6 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.3 points below its cost of capital (9.4% WACC).
Credit Panasonic has 2 bonds outstanding ($1.00B), rated A- by the agencies and trading like A+ at a weighted spread of 71 bp.
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥8.32T | ¥8.05T | ¥8.46T | ¥8.50T | ¥8.38T |
| Revenue growth | — | -5% | 0% | +1% | — |
| Gross profit | ¥2.68T | ¥2.36T | ¥2.48T | ¥2.34T | ¥2.11T |
| EBITDA | ¥1.07T | ¥931B | ¥902B | ¥814B | ¥696B |
| Net income | ¥324B | ¥190B | ¥366B | ¥444B | ¥265B |
| Free cash flow | ¥135B | ¥1.33B | ¥23.8B | ¥319B | ¥231B |
| Capital expenditure | ¥514B | ¥696B | ¥863B | ¥647B | ¥370B |
| Total debt | ¥1.59T | ¥1.60T | ¥1.57T | ¥1.63T | ¥1.46T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Panasonic 6752.T | $44.5B | -6% | +4% | 8% | 13.5× | 9.8% |
| SamsungElec 005930.KS | $886B | -14% | +88% | 46% | 4.0× | -7.2% |
| Lgelectronics 066570.KS | $17.3B | -2% | +8% | 4% | 11.3× | -4.5% |
| Sony 6758.T | $156B | +33% | +1% | 13% | 18.7× | 3.4% |
| Contemporary Amperex Technology 300750.SZ | $179B | -42% | +51% | 14% | 13.0× | 1.6% |
| LG Energy Solution 373220.KS | $58.2B | -27% | +25% | 1% | n/a | n/a |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 6752.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -36.9% | -13.4% | 5th lowest of 17 |
| 6-month return | -6.1% | +3.2% | 5th lowest of 17 |
| Distance from 52-week high | -39.6% | -30.6% | 7th lowest of 17 |
| Revenue growth (TTM) | +3.7% | +16.1% | 3rd lowest of 17 |
| Operating margin | 8.0% | 22.1% | lowest of 17 |
| Forward P/E | 13.5× | 23.1× | 4th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 9.8% | 15.2% | 8th least demanding of 17 |
| Growth delivered (Del g) | +3.7% | +10.6% | 4th lowest of 17 |
| Hurdle (Req g minus delivered) | +6.0 pp | +3.2 pp | 7th most demanding of 17 |
| ROIC minus cost of capital | -2.3 pp | +9.4 pp | 5th lowest of 17 |
| EV / EBITDA | 7.5× | 14.8× | 2nd cheapest of 17 |
| Net debt / EBITDA | 0.8× | -0.5× | 3rd most indebted of 17 |
| Bond spread | 71 bp | 82 bp | 2nd tightest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Panasonic 6752.T | Japan | $44.5B | -6% | +4% | 8% | 13.5× | 9.8% | +3.7% |
| Nec 6701.T | Japan | $36.3B | +5% | +7% | 12% | 18.6× | 5.5% | +3.7% |
| Fujitsu 6702.T | Japan | $35.4B | +1% | +4% | 10% | 18.0× | 4.1% | -0.5% |
| Murata Manufacturing 6981.T | Japan | $57.1B | -5% | +15% | 20% | 23.0× | 29.8% | +2.3% |
| Canon 7751.T | Japan | $28.4B | +18% | +4% | 10% | 12.2× | -0.6% | +7.9% |
| Disco 6146.T | Japan | $28.1B | -45% | +22% | 44% | 23.2× | 25.4% | +19.0% |
| Renesas Electronics 6723.T | Japan | $27.9B | -23% | +26% | 24% | 9.9× | 12.2% | +13.0% |
| Tdk 6762.T | Japan | $25.4B | -27% | +25% | 10% | 15.0× | 18.2% | +11.1% |
| Kioxia 285A.T | Japan | $88.9B | +139% | +265% | 70% | 2.5× | -3.0% | +18.8% |
| Ibiden 4062.T | Japan | $22.1B | +164% | +26% | 18% | 39.2× | 39.2% | +5.2% |
| Nomura Research Institute 4307.T | Japan | $20.2B | +40% | +8% | 19% | 26.4× | 0.7% | +8.2% |
| Keyence 6861.T | Japan | $107B | -2% | +25% | 54% | 28.7× | 21.1% | +16.8% |
| Lasertec 6920.T | Japan | $18.2B | -25% | -19% | 44% | 28.7× | 28.9% | +26.8% |
| OBIC 4684.T | Japan | $16.6B | +46% | +13% | 67% | 30.3× | 4.6% | +10.0% |
| Tokyo Electron 8035.T | Japan | $122B | +41% | +18% | 28% | 23.1× | 28.8% | +11.8% |
| Advantest 6857.T | Japan | $124B | -1% | +48% | 50% | 27.5× | 36.4% | +29.3% |
| Sony 6758.T | Japan | $156B | +33% | +1% | 13% | 18.7× | 3.4% | +6.8% |
Panasonic has 2 bonds outstanding with $1.00B face value. The agencies rate it A-; its bonds trade like A+. Weighted yield 5.37%, a spread of 71 bp over government bonds.