CANON INC Reports FY2022 Q4 Earnings Results on January 30 2023

Earnings Overview

On January 30 2023, CANON INC ($TSE:7751) reported its earnings results for Q4 of FY2022, ending on December 31 2022. The fourth quarter’s total revenue was JPY 84.8 billion, a massive 41.9% increase compared to the same period in the previous year. Net income also experienced a 21.1% year-over-year growth, reaching JPY 1157.2 billion.

Market Price

On Monday, the day of the earnings release, CANON INC stock opened at JP¥2937.5 and closed at JP¥2947.5, a decrease of 0.1% from their prior closing price of JP¥2949.5. The financial report showed a slight decrease in net income compared to the same period last year. CANON INC has been actively pursuing cost-saving measures and innovative product development over the past year in order to address this decrease in net income. These measures have shown positive results as evidenced by the overall increase in sales and profitability during FY2022.

Overall, CANON INC’s financial results for FY2022 Q4 indicate a company that is well-positioned for future growth and success. The company’s efforts to make cost-saving measures and invest in innovative product development have begun to pay off, and they are confident that they will achieve greater success in the coming quarters. Investors will be watching closely to see how CANON INC continues to perform in the coming months. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Canon Inc. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Canon Inc. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Canon Inc. More…

Key Ratios Snapshot

Some of the financial key ratios for Canon Inc are shown below. More…

Analysis

At GoodWhale we have examined the fundamentals of CANON INC and assigned them a ‘gorilla’ classification based on their stable and high revenue or earning growth due to their strong competitive advantage. This makes CANON INC an ideal candidate for investors seeking a well-established company. When it comes to the specifics, CANON INC has strong assets, dividend, and profitability, though there is a lack of growth. This company also has an impressive overall health score of 10/10, with their cashflows and debt being able to sustain future operations in times of crisis. Overall, CANON INC is an attractive investment option for those that value a tried and tested company with a strong financial backbone. More…

Peers

The competition between Canon Inc and its competitors is fierce. Flytech Technology Co Ltd, Video Display Corp, and Kubotek Corp are all fierce rivals in this competitive landscape, each bringing their own unique approaches to the industry. Despite their differences, these companies are all striving to stay ahead of the competition in order to produce the best products and services for their customers.

– Flytech Technology Co Ltd ($TWSE:6206)

Flytech Technology Co Ltd is a leading technology company that specializes in the production of electronic products and services. With its market capitalization of 9.63B as of 2023, it is one of the largest technology companies in the world. It has also achieved an impressive Return on Equity of 19.13%, a sign of its financial health and stability. The company has a wide range of products and services, ranging from consumer electronics to enterprise solutions, making it one of the most versatile technology companies in the world.

– Video Display Corp ($OTCPK:VIDE)

Video Display Corporation is a publicly-traded manufacturer of video display products. Founded in 1984, the company serves a variety of markets, including medical, aerospace, military and industrial. As of 2023, Video Display Corporation has a market capitalization of 7.7 million dollars. This represents the total value of the company’s outstanding shares on the open market. The company also has a Return on Equity (ROE) of -75.89%, which is a measure of the company’s profitability by comparing its net income to its total equity. This negative ROE indicates that the company is not performing well, and may be losing money.

– Kubotek Corp ($TSE:7709)

Kubotek Corp is a leading provider of CAD/CAM software solutions for product design and manufacturing. As of 2023, the company had a market cap of 2.97 billion dollars, indicating that the company has a strong presence in the market. The return on equity for the company is -12.18%, which suggests that the company has not been able to generate sufficient income from its operations. Despite this, Kubotek Corp continues to offer its innovative software solutions and remains a dominant player in the CAD/CAM software industry.

Summary

CANON INC is a solid stock choice for investors looking for a long-term growth opportunity. The company recently reported impressive financials for the fourth quarter of FY2022, with total revenue increasing 41.9% year-over-year to JPY 84.8 billion, and net income rising 21.1% to JPY 1157.2 billion. This strong performance demonstrates CANON INC’s ability to capitalize on market opportunities and drive growth. The company has a history of solid results, making it an attractive choice for investors seeking a reliable return on their investment.