Sony
- as of 6/20/18
- SNE
Entry/Exit Point 46.40 / 51
52Wk Hi/Lo 36.25 - 53.91
number of 10% Sine Wave rolls in 1-yr chart 5 good
P/E 12.72 good
Profitable or string of losses? mostly profitable 2016-2017
Current Ratio less than 1 – not good
- Current Assets divided by Current Liabilities
- Rule of Thumb: 2 is considered adequate for manufacturers
LT Debt as a percent of capitalization 22% OK
- LT Debt / LT Debt + OE on balance sheet
Interest Coverage Ratio 18 excellent
- EBIT / I
- Rule of Thumb for Safety: 3-4
Cash Flow positive from ops
Insider Activity none
Institutional Ownership 7%
Short Interest < 0.1%
Dividend 0.4%
10-K / 10-Q no 10-K (foreign issuer)
- Legal Proceedings
- Risk Factors
- Related Party Transactions / Related Transactions
News Headlines
- Google News
* big into games
* Sony buys EMI for $2.3 billion
* returns to venture capital investing
* rivals allowing cross-play between consoles, but Sony won’t
- Seeking Alpha
* cutting costs and execs at Sony Pictures
* co. returning to robotics – selling Aibo the Dog, new robots for education, healthcare, and transportation
- ProQuest (1 year)
* Sony moves beyond turnaround; electronics doing well; ditto mobile streaming
* buys stake in Peanuts characters; popular in Japan for merch
* music is a growth business again; streaming is the biggest revenue-generator (more than CDs); Spotify and YouTube upping compensation being paid to music creators
* PlayStation 4 will go another 3 years; prepping next platform which will allow more mobile gaming without a dedicated device and leverage consumer data from subscription service.
Most recent earnings press release
FY17 – 4/30/18 (Sony website)
* revenue up 12% y/y, net income up 569%
* Q417: revenue up 2%, net income down (net loss)
* segment revenue up, except mobile and ‘other’ down
* guiding lower on revenue and net income for FY2018
* cash flow positive after improvement in operating and investing CF
Bottom Line
* current ratio less than 1 – puzzling and a concern, but good long-term financial position with respect to debt
* not sitting on their hands; moving ahead dynamically on several fronts
* good Sine Wave chart
* no disqualifiers
- as of 6/20/18
- SNE
Entry/Exit Point 46.40 / 51
52Wk Hi/Lo 36.25 - 53.91
number of 10% Sine Wave rolls in 1-yr chart 5 good
P/E 12.72 good
Profitable or string of losses? mostly profitable 2016-2017
Current Ratio less than 1 – not good
- Current Assets divided by Current Liabilities
- Rule of Thumb: 2 is considered adequate for manufacturers
LT Debt as a percent of capitalization 22% OK
- LT Debt / LT Debt + OE on balance sheet
Interest Coverage Ratio 18 excellent
- EBIT / I
- Rule of Thumb for Safety: 3-4
Cash Flow positive from ops
Insider Activity none
Institutional Ownership 7%
Short Interest < 0.1%
Dividend 0.4%
10-K / 10-Q no 10-K (foreign issuer)
- Legal Proceedings
- Risk Factors
- Related Party Transactions / Related Transactions
News Headlines
- Google News
* big into games
* Sony buys EMI for $2.3 billion
* returns to venture capital investing
* rivals allowing cross-play between consoles, but Sony won’t
- Seeking Alpha
* cutting costs and execs at Sony Pictures
* co. returning to robotics – selling Aibo the Dog, new robots for education, healthcare, and transportation
- ProQuest (1 year)
* Sony moves beyond turnaround; electronics doing well; ditto mobile streaming
* buys stake in Peanuts characters; popular in Japan for merch
* music is a growth business again; streaming is the biggest revenue-generator (more than CDs); Spotify and YouTube upping compensation being paid to music creators
* PlayStation 4 will go another 3 years; prepping next platform which will allow more mobile gaming without a dedicated device and leverage consumer data from subscription service.
Most recent earnings press release
FY17 – 4/30/18 (Sony website)
* revenue up 12% y/y, net income up 569%
* Q417: revenue up 2%, net income down (net loss)
* segment revenue up, except mobile and ‘other’ down
* guiding lower on revenue and net income for FY2018
* cash flow positive after improvement in operating and investing CF
Bottom Line
* current ratio less than 1 – puzzling and a concern, but good long-term financial position with respect to debt
* not sitting on their hands; moving ahead dynamically on several fronts
* good Sine Wave chart
* no disqualifiers