Both Panasonic FZ300 and FujiFilm S200EXR have 12.0 MP resolution sensors but Panasonic FZ300's sensor is 1/2.3 (6.17 x 4.55 mm ) and FujiFilm S200EXR's sensor is 1/1.6-inch (8 x 6 mm ).
Since FujiFilm S200EXR's has a larger sensor area with the same resolution, this means that it also has a larger pixel area hence better light collecting capacity for a given aperture compared to Panasonic FZ300.
Below you can see the FZ300 and S200EXR sensor size comparison.
Sensor Size and Resolution Comparison image of Panasonic FZ300 and FujiFilm S200EXR Cameras
As seen above, FujiFilm S200EXR has a 1.7x Larger sensor area than Panasonic FZ300. Larger sensors give photographer more control on the depth of field and blurry background compared to smaller sensor when shot in same focal length and aperture.
Sensor size sets the circle of confusion, so it drives how much depth of field each
of these bodies gives you at a given aperture. You can calculate it exactly for the
Panasonic FZ300
or the
FujiFilm S200EXR ,
including hyperfocal distance.
One thing to watch when comparing these two: they have different sensor sizes
(1/2.3 versus 1/1.6-inch),
so compare them at the same framing rather than the same focal length.
Put the same focal length on the smaller sensor and it will show less depth of
field, not more, because it also crops tighter. The calculator shows the
full frame equivalent focal length for each body so you can match the framing.