It's a bit more complicated than that. The Canon S110 says that it's "F2.0 - 5.9". It's only super bright when you've got it at its wide angle setting. If you zoom all the way in, you've got 3.5 stops less light. (An exposure that might take 1/10 sec at the wide angle would take a full second at the full telephoto setting.) For contrast, the Panasonic LX7 is "F1.4 - F2.3". It's twice as bright at the wide-angle setting, and it's a factor of eight brighter at the telephoto setting.

On the flip side, the Panasonic is a bigger camera. It's jacket pocketable but not really pants pocketable.

The other camera worth considering, if you don't mind spending more money, is the Sony RX100, which has the biggest sensor in its class. That means better low light performance. Here's a quick comparison I threw together from DPReview:



What you'll see is that the Sony has the highest resolution, but the lens isn't really keeping up with it. The lower resolution GX1 (which has interchangeable lenses) is getting just as sharp a picture. You'll also see that the Panasonic LX7 seems to be outclassing the Canon S110, although the colors might need some tweaking in post, if you really care.