PanasonicPanasonic Holdings Corporation6752東証プライム電気機器FY ending Mar 2026, consolidated, IFRS

Panasonic revenue and profit

Out of every ¥100 of sales, about ¥3 is left as operating profit. Revenue changed -4.8% from the prior year, operating profit -44.6%.

Five-year trend

Revenue¥8.05T
FY ending Mar 2022: ¥7.39T¥7.39TFY ending Mar 2023: ¥8.38T¥8.38TFY ending Mar 2024: ¥8.5T¥8.5TFY ending Mar 2025: ¥8.46T¥8.46TFY ending Mar 2026: ¥8.05T¥8.05TFY22FY23FY24FY25FY26
Operating income¥236.4B
FY ending Mar 2022: ¥357.5B¥357.5BFY ending Mar 2023: ¥288.6B¥288.6BFY ending Mar 2024: ¥361B¥361BFY ending Mar 2025: ¥426.5B¥426.5BFY ending Mar 2026: ¥236.4B¥236.4BFY22FY23FY24FY25FY26
Operating margin2.9%
FY ending Mar 2022: 4.8%4.8%FY ending Mar 2023: 3.4%3.4%FY ending Mar 2024: 4.2%4.2%FY ending Mar 2025: 5.0%5.0%FY ending Mar 2026: 2.9%2.9%FY22FY23FY24FY25FY26

What drives ROE

Net margin × asset turnover = ROA; ROA × financial leverage = ROE

Net margin2.4%
Asset turnover0.82×
ROA1.9%
ROA1.9%
Financial leverage1.97×
ROE3.8%

Denominators: average assets and average equity. Derived from reported values; ROE is shown only for positive profit and equity.

Net margin2.4%
2022: 3.5%3.5%2023: 3.2%3.2%2024: 5.2%5.2%2025: 4.3%4.3%2026: 2.4%2.4%2223242526
Asset turnover0.82×
2022: 0.92×0.92×2023: 1.04×1.04×2024: 0.97×0.97×2025: 0.90×0.90×2026: 0.82×0.82×2223242526
ROA1.9%
2022: 3.2%3.2%2023: 3.3%3.3%2024: 5.1%5.1%2025: 3.9%3.9%2026: 1.9%1.9%2223242526
Financial leverage1.97×
2022: 2.54×2.54×2023: 2.37×2.37×2024: 2.14×2.14×2025: 2.03×2.03×2026: 1.97×1.97×2223242526
ROE3.8%
2022: 8.1%8.1%2023: 7.8%7.8%2024: 10.9%10.9%2025: 7.9%7.9%2026: 3.8%3.8%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20223.5%0.92×3.2%2.54×8.1%
20233.2%1.04×3.3%2.37×7.8%
20245.2%0.97×5.1%2.14×10.9%
20254.3%0.90×3.9%2.03×7.9%
20262.4%0.82×1.9%1.97×3.8%

Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.

Asset intensity and goodwill

Annual trends in tangible-asset ratios and goodwill balance.

PPE ÷ revenue27.9%
2021: 15.8%15.8%2022: 15.1%15.1%2023: 14.0%14.0%2024: 18.3%18.3%2025: 22.5%22.5%2026: 27.9%27.9%212223242526
PPE ÷ total assets22.1%
2021: 15.5%15.5%2022: 13.9%13.9%2023: 14.5%14.5%2024: 16.6%16.6%2025: 20.4%20.4%2026: 22.1%22.1%212223242526
Goodwill ÷ parent equity25.4%
2021: 11.8%11.8%2022: 31.4%31.4%2023: 29.8%29.8%2024: 26.5%26.5%2025: 27.0%27.0%2026: 25.4%25.4%212223242526
Goodwill balance¥1.32T
2021: ¥304.9B¥304.9B2022: ¥994.7B¥994.7B2023: ¥1.08T¥1.08T2024: ¥1.2T¥1.2T2025: ¥1.27T¥1.27T2026: ¥1.32T¥1.32T212223242526

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Investment and working-capital efficiency

Track R&D investment and how long operating capital remains tied up before sales turn into cash.

R&D spending¥426.4B
2021: ¥419.8B¥419.8B2022: ¥419.8B¥419.8B2023: ¥469.8B¥469.8B2024: ¥491.2B¥491.2B2025: ¥477.8B¥477.8B2026: ¥426.4B¥426.4B212223242526
R&D / revenue5.3%
2021: 6.3%6.3%2022: 5.7%5.7%2023: 5.6%5.6%2024: 5.8%5.8%2025: 5.6%5.6%2026: 5.3%5.3%212223242526

R&D is shown only for years with machine-readable disclosure. Days are estimates using year-end receivables, inventory and payables divided by annual revenue or cost of sales; financial companies are excluded.

Income statement (JPY millions)

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Revenue7,388,7918,378,9428,496,4208,458,1858,048,722
Cost of revenue5,306,5806,117,4946,002,0655,829,5695,521,854
Gross profit2,082,2112,261,4482,494,3552,628,6162,526,868
SG&A1,724,5111,947,3712,104,3562,161,3932,079,425
Operating income357,526288,570360,962426,490236,407
Pretax income360,395316,409425,239486,289263,109
Income tax94,95735,853-40,204101,89354,134
Net income attributable to owners255,334265,502443,994366,205189,540
Operating margin4.8%3.4%4.2%5.0%2.9%

Balance sheet (reported items)

Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.

Assets

8%
Property, plant and equipment 22%
Intangibles and goodwill 13%
Other assets 57%

Funding

Other liabilities 47%
Equity 53%

Each bar totals 100% of assets; other is the residual.

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Cash and equivalents¥1.21T¥819.5B¥1.12T¥847.6B¥770.2B
Total assets¥8.02T¥8.06T¥9.41T¥9.34T¥10.2T
Net assets¥3.35T¥3.79T¥4.72T¥4.87T¥5.38T
Share capital¥259.2B¥259.3B¥259.4B¥259.6B¥259.6B
Property, plant and equipment¥1.12T¥1.17T¥1.56T¥1.9T¥2.24T
Goodwill¥994.7B¥1.08T¥1.2T¥1.27T¥1.32T
Current assets¥4.03T¥3.8T¥4.15T¥3.62T¥3.88T
Total liabilities¥4.68T¥4.27T¥4.69T¥4.47T¥4.79T
Equity attributable to owners of parent¥3.16T¥3.62T¥4.54T¥4.69T¥5.21T
Retained earnings¥2.39T¥2.59T¥3.04T¥3.32T¥3.4T
Treasury stock-¥209.3B-¥209.2B-¥209.1B-¥209B-¥209B

Sources

Show source documents (6)
  • EDINET (FSA Japan)

    有価証券報告書-第119期(2025/04/01-2026/03/31)

    ID S100YETA2026-06-19Open
  • EDINET (FSA Japan)

    有価証券報告書-第118期(2024/04/01-2025/03/31)

    ID S100W0F32025-06-20Open
  • EDINET (FSA Japan)

    有価証券報告書-第117期(2023/04/01-2024/03/31)

    ID S100TQZC2024-06-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第116期(2022/04/01-2023/03/31)

    ID S100R44M2023-06-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第115期(令和3年4月1日-令和4年3月31日)

    ID S100ODSS2022-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第114期(令和2年4月1日-令和3年3月31日)

    ID S100LP1N2021-06-25Open

Extracted from XBRL: 45 / Derived from other figures: 1

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