Panasonic Corp. (PC) | Short-term (Operating) Activity

Ratios (Summary)

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Panasonic Corp., short-term (operating) activity ratios

		Mar 31, 2011	Mar 31, 2010	Mar 31, 2009	Mar 31, 2008	Mar 31, 2007	Mar 31, 2006
	Turnover Ratios
	Inventory turnover
	Receivables turnover
	Payables turnover
	Working capital turnover
	Average No. of Days
	Average inventory processing period
	Add: Average receivable collection period
	Operating cycle
	Less: Average payables payment period
	Cash conversion cycle

Source: Based on data from Panasonic Corp. Annual Reports

Ratio	Description	The company
Inventory turnover	An activity ratio calculated as revenue divided by inventory.	Panasonic Corp.'s inventory turnover deteriorated from 2009 to 2010 but then improved from 2010 to 2011 not reaching 2009 level.
Receivables turnover	An activity ratio equal to revenue divided by receivables.	Panasonic Corp.'s receivables turnover deteriorated from 2009 to 2010 but then improved from 2010 to 2011 not reaching 2009 level.
Payables turnover	An activity ratio calculated as revenue divided by payables.	Panasonic Corp.'s payables turnover declined from 2009 to 2010 but then slightly increased from 2010 to 2011.
Working capital turnover	An activity ratio calculated as revenue divided by working capital.	Panasonic Corp.'s working capital turnover deteriorated from 2009 to 2010 but then improved from 2010 to 2011 exceeding 2009 level.
Average inventory processing period	An activity ratio equal to the number of days in the period divided by inventory turnover over the period.	Panasonic Corp.'s average inventory processing period deteriorated from 2009 to 2010 but then improved from 2010 to 2011 not reaching 2009 level.
Average receivable collection period	An activity ratio equal to the number of days in the period divided by receivables turnoverd.	Panasonic Corp.'s average receivable collection period deteriorated from 2009 to 2010 but then improved from 2010 to 2011 not reaching 2009 level.
Operating cycle	Equal to average inventory processing period plus average receivables collection period.	Panasonic Corp.'s operating cycle deteriorated from 2009 to 2010 but then improved from 2010 to 2011 not reaching 2009 level.
Average payables payment period	An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.	Panasonic Corp.'s average payables payment period increased from 2009 to 2010 but then slightly declined from 2010 to 2011 not reaching 2009 level.
Cash conversion cycle	A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.	Panasonic Corp.'s cash conversion cycle deteriorated from 2009 to 2010 but then improved from 2010 to 2011 exceeding 2009 level.

Inventory Turnover

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		Mar 31, 2011	Mar 31, 2010	Mar 31, 2009	Mar 31, 2008	Mar 31, 2007	Mar 31, 2006
	Selected Financial Data (USD $ in millions, translated from JPY ￥)
	Net sales
	Inventories
	Inventory Turnover, Comparison to Industry
	Panasonic Corp.¹
	Industry, Consumer Goods

Source: Based on data from Panasonic Corp. Annual Reports

2011 Calculations

¹ Inventory turnover = Net sales ÷ Inventories
= ÷ =

Ratio	Description	The company
Inventory turnover	An activity ratio calculated as revenue divided by inventory.	Panasonic Corp.'s inventory turnover deteriorated from 2009 to 2010 but then improved from 2010 to 2011 not reaching 2009 level.

Receivables Turnover

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		Mar 31, 2011	Mar 31, 2010	Mar 31, 2009	Mar 31, 2008	Mar 31, 2007	Mar 31, 2006
	Selected Financial Data (USD $ in millions, translated from JPY ￥)
	Net sales
	Net trade receivables
	Receivables Turnover, Comparison to Industry
	Panasonic Corp.¹
	Industry, Consumer Goods

Source: Based on data from Panasonic Corp. Annual Reports

2011 Calculations

¹ Receivables turnover = Net sales ÷ Net trade receivables
= ÷ =

Ratio	Description	The company
Receivables turnover	An activity ratio equal to revenue divided by receivables.	Panasonic Corp.'s receivables turnover deteriorated from 2009 to 2010 but then improved from 2010 to 2011 not reaching 2009 level.

Payables Turnover

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		Mar 31, 2011	Mar 31, 2010	Mar 31, 2009	Mar 31, 2008	Mar 31, 2007	Mar 31, 2006
	Selected Financial Data (USD $ in millions, translated from JPY ￥)
	Net sales
	Trade payables
	Payables Turnover, Comparison to Industry
	Panasonic Corp.¹
	Industry, Consumer Goods

Source: Based on data from Panasonic Corp. Annual Reports

2011 Calculations

¹ Payables turnover = Net sales ÷ Trade payables
= ÷ =

Ratio	Description	The company
Payables turnover	An activity ratio calculated as revenue divided by payables.	Panasonic Corp.'s payables turnover declined from 2009 to 2010 but then slightly increased from 2010 to 2011.

Working Capital Turnover

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		Mar 31, 2011	Mar 31, 2010	Mar 31, 2009	Mar 31, 2008	Mar 31, 2007	Mar 31, 2006
	Selected Financial Data (USD $ in millions, translated from JPY ￥)
	Net sales
	Working capital
	Working Capital Turnover, Comparison to Industry
	Panasonic Corp.¹
	Industry, Consumer Goods

Source: Based on data from Panasonic Corp. Annual Reports

2011 Calculations

¹ Working capital turnover = Net sales ÷ Working capital
= ÷ =

Ratio	Description	The company
Working capital turnover	An activity ratio calculated as revenue divided by working capital.	Panasonic Corp.'s working capital turnover deteriorated from 2009 to 2010 but then improved from 2010 to 2011 exceeding 2009 level.

Average Inventory Processing Period

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		Mar 31, 2011	Mar 31, 2010	Mar 31, 2009	Mar 31, 2008	Mar 31, 2007	Mar 31, 2006
	Selected Financial Data
	Inventory turnover
	Average Inventory Processing Period (no. of days), Comparison to Industry
	Panasonic Corp.¹
	Industry, Consumer Goods

Source: Based on data from Panasonic Corp. Annual Reports

2011 Calculations

¹ Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ =

Ratio	Description	The company
Average inventory processing period	An activity ratio equal to the number of days in the period divided by inventory turnover over the period.	Panasonic Corp.'s average inventory processing period deteriorated from 2009 to 2010 but then improved from 2010 to 2011 not reaching 2009 level.

Average Receivable Collection Period

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		Mar 31, 2011	Mar 31, 2010	Mar 31, 2009	Mar 31, 2008	Mar 31, 2007	Mar 31, 2006
	Selected Financial Data
	Receivables turnover
	Average Receivable Collection Period (no. of days), Comparison to Industry
	Panasonic Corp.¹
	Industry, Consumer Goods

Source: Based on data from Panasonic Corp. Annual Reports

2011 Calculations

¹ Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ =

Ratio	Description	The company
Average receivable collection period	An activity ratio equal to the number of days in the period divided by receivables turnoverd.	Panasonic Corp.'s average receivable collection period deteriorated from 2009 to 2010 but then improved from 2010 to 2011 not reaching 2009 level.

Operating Cycle

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No. of days

		Mar 31, 2011	Mar 31, 2010	Mar 31, 2009	Mar 31, 2008	Mar 31, 2007	Mar 31, 2006
	Selected Financial Data
	Average inventory processing period
	Average receivable collection period
	Operating Cycle, Comparison to Industry
	Panasonic Corp.¹
	Industry, Consumer Goods

Source: Based on data from Panasonic Corp. Annual Reports

2011 Calculations

¹ Operating cycle = Average inventory processing period + Average receivable collection period
= + =

Ratio	Description	The company
Operating cycle	Equal to average inventory processing period plus average receivables collection period.	Panasonic Corp.'s operating cycle deteriorated from 2009 to 2010 but then improved from 2010 to 2011 not reaching 2009 level.

Average Payables Payment Period

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		Mar 31, 2011	Mar 31, 2010	Mar 31, 2009	Mar 31, 2008	Mar 31, 2007	Mar 31, 2006
	Selected Financial Data
	Payables turnover
	Average Payables Payment Period (no. of days), Comparison to Industry
	Panasonic Corp.¹
	Industry, Consumer Goods

Source: Based on data from Panasonic Corp. Annual Reports

2011 Calculations

¹ Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ =

Ratio	Description	The company
Average payables payment period	An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.	Panasonic Corp.'s average payables payment period increased from 2009 to 2010 but then slightly declined from 2010 to 2011 not reaching 2009 level.

Cash Conversion Cycle

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No. of days

		Mar 31, 2011	Mar 31, 2010	Mar 31, 2009	Mar 31, 2008	Mar 31, 2007	Mar 31, 2006
	Selected Financial Data
	Average inventory processing period
	Average receivable collection period
	Average payables payment period
	Cash Conversion Cycle, Comparison to Industry
	Panasonic Corp.¹
	Industry, Consumer Goods

Source: Based on data from Panasonic Corp. Annual Reports

2011 Calculations

¹ Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= + – =

Ratio	Description	The company
Cash conversion cycle	A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.	Panasonic Corp.'s cash conversion cycle deteriorated from 2009 to 2010 but then improved from 2010 to 2011 exceeding 2009 level.

Panasonic Corp. (PC) | Short-term (Operating) Activity Analysis

Ratios (Summary)

Inventory Turnover

Receivables Turnover

Payables Turnover

Working Capital Turnover

Average Inventory Processing Period

Average Receivable Collection Period

Operating Cycle

Average Payables Payment Period

Cash Conversion Cycle

Basic Materials

Consumer Goods

Consumer Services

Health Care

Industrials

Oil & Gas

Technology

Telecommunications