GURUFOCUS.COM » STOCK LIST » Basic Materials » Agriculture » Coromandel International Ltd (BOM:506395) » Definitions » Piotroski F-Score

Coromandel International (BOM:506395) Piotroski F-Score : 5 (As of May. 31, 2024)


View and export this data going back to 1991. Start your Free Trial

What is Coromandel International Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Coromandel International has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Coromandel International's Piotroski F-Score or its related term are showing as below:

BOM:506395' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 7
Current: 5

During the past 13 years, the highest Piotroski F-Score of Coromandel International was 7. The lowest was 4. And the median was 6.


Coromandel International Piotroski F-Score Historical Data

The historical data trend for Coromandel International's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Coromandel International Piotroski F-Score Chart

Coromandel International Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 7.00 6.00 6.00 5.00

Coromandel International Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 - - - 5.00

Competitive Comparison of Coromandel International's Piotroski F-Score

For the Agricultural Inputs subindustry, Coromandel International's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Coromandel International's Piotroski F-Score Distribution in the Agriculture Industry

For the Agriculture industry and Basic Materials sector, Coromandel International's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Coromandel International's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was ₹16,422 Mil.
Cash Flow from Operations was ₹14,277 Mil.
Revenue was ₹220,584 Mil.
Gross Profit was ₹55,761 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was (142348 + 158515) / 2 = ₹150431.5 Mil.
Total Assets at the begining of this year (Mar23) was ₹142,348 Mil.
Long-Term Debt & Capital Lease Obligation was ₹4,103 Mil.
Total Current Assets was ₹121,230 Mil.
Total Current Liabilities was ₹58,636 Mil.
Net Income was ₹20,129 Mil.

Revenue was ₹296,279 Mil.
Gross Profit was ₹61,554 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was (112847.4 + 142348) / 2 = ₹127597.7 Mil.
Total Assets at the begining of last year (Mar22) was ₹112,847 Mil.
Long-Term Debt & Capital Lease Obligation was ₹3,631 Mil.
Total Current Assets was ₹102,436 Mil.
Total Current Liabilities was ₹58,565 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Coromandel International's current Net Income (TTM) was 16,422. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Coromandel International's current Cash Flow from Operations (TTM) was 14,277. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar23)
=16421.9/142348
=0.11536446

ROA (Last Year)=Net Income/Total Assets (Mar22)
=20129.3/112847.4
=0.17837629

Coromandel International's return on assets of this year was 0.11536446. Coromandel International's return on assets of last year was 0.17837629. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Coromandel International's current Net Income (TTM) was 16,422. Coromandel International's current Cash Flow from Operations (TTM) was 14,277. ==> 14,277 <= 16,422 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=4102.6/150431.5
=0.02727221

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=3630.8/127597.7
=0.02845506

Coromandel International's gearing of this year was 0.02727221. Coromandel International's gearing of last year was 0.02845506. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar24)=Total Current Assets/Total Current Liabilities
=121230.3/58635.5
=2.06752394

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=102436.1/58564.9
=1.74910399

Coromandel International's current ratio of this year was 2.06752394. Coromandel International's current ratio of last year was 1.74910399. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Coromandel International's number of shares in issue this year was 294.563. Coromandel International's number of shares in issue last year was 294.374. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=55760.5/220583.9
=0.2527859

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=61553.8/296279
=0.2077562

Coromandel International's gross margin of this year was 0.2527859. Coromandel International's gross margin of last year was 0.2077562. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar23)
=220583.9/142348
=1.54961011

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=296279/112847.4
=2.62548362

Coromandel International's asset turnover of this year was 1.54961011. Coromandel International's asset turnover of last year was 2.62548362. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+0+0+1+1+0+1+0
=5

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Coromandel International has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Coromandel International  (BOM:506395) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Coromandel International Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Coromandel International's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Coromandel International (BOM:506395) Business Description

Traded in Other Exchanges
Address
1-2-10, Sardar Patel Road, Coromandel House, Secunderabad, TG, IND, 500003
Coromandel International Ltd manufactures and sells fertilizers and crop protection chemicals to the agriculture industry. The firm's revenue is generated in India, but the company also derives revenue in Latin America and Africa. The company's main product lines consist of organic manure, specialty nutrients that include water soluble fertilizers, and single super phosphate fertilizers. Coromandel's primary brands include Gromor Suraksha and Godavari fertilizers. The firm also owns and operates retail outlets known as Mana Grormor Centers.

Coromandel International (BOM:506395) Headlines

No Headlines