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Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS (IST:KIMMR) Piotroski F-Score : 6 (As of May. 15, 2024)


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What is Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS 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

Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's Piotroski F-Score or its related term are showing as below:

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

During the past 5 years, the highest Piotroski F-Score of Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS was 7. The lowest was 5. And the median was 6.


Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS Piotroski F-Score Historical Data

The historical data trend for Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS'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.

Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS Piotroski F-Score Chart

Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22
Piotroski F-Score
N/A N/A N/A 5.00 7.00

Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS Quarterly Data
Dec18 Dec19 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23
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 N/A 7.00 N/A 5.00 6.00

Competitive Comparison of Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's Piotroski F-Score

For the Department Stores subindustry, Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS'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.


Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's Piotroski F-Score Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS'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 (Sep23) TTM:Last Year (Sep22) TTM:
Net Income was 33.992 + 10.123 + 65.876 + 5.004 = ₺115 Mil.
Cash Flow from Operations was -0.632 + 5.592 + 137.433 + 69.351 = ₺212 Mil.
Revenue was 803.475 + 1002.728 + 1150.772 + 1295.388 = ₺4,252 Mil.
Gross Profit was 197.563 + 248.67 + 275.029 + 307.434 = ₺1,029 Mil.
Average Total Assets from the begining of this year (Sep22)
to the end of this year (Sep23) was
(1253.247 + 1536.683 + 1914.82 + 2159.19 + 2460.359) / 5 = ₺1864.8598 Mil.
Total Assets at the begining of this year (Sep22) was ₺1,253 Mil.
Long-Term Debt & Capital Lease Obligation was ₺571 Mil.
Total Current Assets was ₺1,283 Mil.
Total Current Liabilities was ₺1,081 Mil.
Net Income was 13.225 + 4.225 + 9.957 + 4.632 = ₺32 Mil.

Revenue was 369.845 + 445.773 + 573.354 + 641.336 = ₺2,030 Mil.
Gross Profit was 96.935 + 112.98 + 134.534 + 158.746 = ₺503 Mil.
Average Total Assets from the begining of last year (Sep21)
to the end of last year (Sep22) was
(882.31 + 925.16 + 1020.175 + 1161.327 + 1253.247) / 5 = ₺1048.4438 Mil.
Total Assets at the begining of last year (Sep21) was ₺882 Mil.
Long-Term Debt & Capital Lease Obligation was ₺159 Mil.
Total Current Assets was ₺833 Mil.
Total Current Liabilities was ₺621 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.

Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's current Net Income (TTM) was 115. ==> 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.

Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's current Cash Flow from Operations (TTM) was 212. ==> 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 (Sep22)
=114.995/1253.247
=0.09175765

ROA (Last Year)=Net Income/Total Assets (Sep21)
=32.039/882.31
=0.03631263

Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's return on assets of this year was 0.09175765. Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's return on assets of last year was 0.03631263. ==> This year is higher. ==> Score 1.

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.

Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's current Net Income (TTM) was 115. Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's current Cash Flow from Operations (TTM) was 212. ==> 212 > 115 ==> CFROA > ROA ==> Score 1.

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: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=570.698/1864.8598
=0.30602729

Gearing (Last Year: Sep22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep21 to Sep22
=158.531/1048.4438
=0.15120601

Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's gearing of this year was 0.30602729. Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's gearing of last year was 0.15120601. ==> Last year is lower than this year ==> Score 0.

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: Sep23)=Total Current Assets/Total Current Liabilities
=1282.998/1081.428
=1.18639244

Current Ratio (Last Year: Sep22)=Total Current Assets/Total Current Liabilities
=832.757/620.936
=1.34113178

Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's current ratio of this year was 1.18639244. Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's current ratio of last year was 1.34113178. ==> Last year's current ratio is higher ==> Score 0.

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.

Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's number of shares in issue this year was 240. Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's number of shares in issue last year was 240. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

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
=1028.696/4252.363
=0.24191161

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=503.195/2030.308
=0.24784171

Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's gross margin of this year was 0.24191161. Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's gross margin of last year was 0.24784171. ==> Last year's gross margin is higher ==> Score 0.

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 (Sep22)
=4252.363/1253.247
=3.39307654

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep21)
=2030.308/882.31
=2.30112772

Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's asset turnover of this year was 3.39307654. Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS's asset turnover of last year was 2.30112772. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

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

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

Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS  (IST:KIMMR) 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.


Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS Piotroski F-Score Related Terms

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Ersan Alisveris Hizmetleri ve Gidanayi Ticaret AS (IST:KIMMR) Business Description

Comparable Companies
Traded in Other Exchanges
N/A
Address
Hadimkoy Mah. Metin Oktay Cad. No: 3/1, Arnavutkoy, Istanbul, TUR
Ersan Alisveris Hizmetleri ve Gida Sanayi Ticaret AS is a supermarket chain in Turkey. It has around five stores.

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