French site Focus Numérique published their studio tests of the Panasonic G5 complete with RAW files for download. They have previously granted permission for us to publish processed crops of their files with analysis, and I set out to determine how the new 16MP sensor in the G5 compares with that of the Panasonic GX1 (most recent 16MP sensor from Panasonic) and Olympus OM-D E-M5 (reportedly uses a Sony sensor). I processed all RAW files using Raw Therapee. Although RAW Therapee will open G5 files, the black point is way off, so I followed these directions to get better support for the files for the sake of comparison. Here are some 100% crops of the three cameras at their respective base ISO settings - ISO 200 for OM-D E-M5 (left), and ISO 160 for the G5 (middle) and GX1 (right): Same comparisons with all three cameras at ISO 6400: These aren't perfectly matched for brightness, tone curve, or color, so it's difficult to draw conclusions about small differences. Maybe a different challenge such as pushing underexposed shadows at base ISO would reveal an advantage for one sensor vs another, but my takeaway from scrutinizing these files was that for practical purposes, there is no difference between these three sensors.