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PT Argha Karya Prima Industry Tbk (ISX:AKPI) Piotroski F-Score : 4 (As of May. 25, 2024)


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What is PT Argha Karya Prima Industry Tbk 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

PT Argha Karya Prima Industry Tbk has an F-score of 4 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for PT Argha Karya Prima Industry Tbk's Piotroski F-Score or its related term are showing as below:

ISX:AKPI' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 9
Current: 4

During the past 13 years, the highest Piotroski F-Score of PT Argha Karya Prima Industry Tbk was 9. The lowest was 2. And the median was 6.


PT Argha Karya Prima Industry Tbk Piotroski F-Score Historical Data

The historical data trend for PT Argha Karya Prima Industry Tbk'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.

PT Argha Karya Prima Industry Tbk Piotroski F-Score Chart

PT Argha Karya Prima Industry Tbk Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 8.00 6.00 6.00 4.00

PT Argha Karya Prima Industry Tbk 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 4.00 4.00 4.00

Competitive Comparison of PT Argha Karya Prima Industry Tbk's Piotroski F-Score

For the Packaging & Containers subindustry, PT Argha Karya Prima Industry Tbk'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.


PT Argha Karya Prima Industry Tbk's Piotroski F-Score Distribution in the Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, PT Argha Karya Prima Industry Tbk's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where PT Argha Karya Prima Industry Tbk'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 -13297.278 + -18183.413 + -12641.628 + 2460.584 = Rp-41,662 Mil.
Cash Flow from Operations was -47587.541 + 138617.656 + -3222.048 + -30428.108 = Rp57,380 Mil.
Revenue was 619010.97 + 698258.034 + 675657.064 + 760511.115 = Rp2,753,437 Mil.
Gross Profit was 50685.565 + 31192.55 + 76410.494 + 76421.169 = Rp234,710 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(3348101.279 + 3433353.535 + 3320401.008 + 3351569.378 + 3465704.191) / 5 = Rp3383825.8782 Mil.
Total Assets at the begining of this year (Mar23) was Rp3,348,101 Mil.
Long-Term Debt & Capital Lease Obligation was Rp393,128 Mil.
Total Current Assets was Rp1,290,797 Mil.
Total Current Liabilities was Rp1,120,166 Mil.
Net Income was 72546.391 + 23057.843 + -20567.617 + 14475.228 = Rp89,512 Mil.

Revenue was 830936.765 + 773254.364 + 661814.019 + 730705.425 = Rp2,996,711 Mil.
Gross Profit was 94467.354 + 83935.94 + 81177.31 + 66689.558 = Rp326,270 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(3554893.117 + 3643115.175 + 3562698.868 + 3590544.759 + 3348101.279) / 5 = Rp3539870.6396 Mil.
Total Assets at the begining of last year (Mar22) was Rp3,554,893 Mil.
Long-Term Debt & Capital Lease Obligation was Rp461,231 Mil.
Total Current Assets was Rp1,241,662 Mil.
Total Current Liabilities was Rp969,457 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.

PT Argha Karya Prima Industry Tbk's current Net Income (TTM) was -41,662. ==> Negative ==> Score 0.

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.

PT Argha Karya Prima Industry Tbk's current Cash Flow from Operations (TTM) was 57,380. ==> 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)
=-41661.735/3348101.279
=-0.01244339

ROA (Last Year)=Net Income/Total Assets (Mar22)
=89511.845/3554893.117
=0.0251799

PT Argha Karya Prima Industry Tbk's return on assets of this year was -0.01244339. PT Argha Karya Prima Industry Tbk's return on assets of last year was 0.0251799. ==> 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.

PT Argha Karya Prima Industry Tbk's current Net Income (TTM) was -41,662. PT Argha Karya Prima Industry Tbk's current Cash Flow from Operations (TTM) was 57,380. ==> 57,380 > -41,662 ==> 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: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=393127.857/3383825.8782
=0.11617851

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=461230.885/3539870.6396
=0.13029597

PT Argha Karya Prima Industry Tbk's gearing of this year was 0.11617851. PT Argha Karya Prima Industry Tbk's gearing of last year was 0.13029597. ==> 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
=1290797.354/1120165.561
=1.1523273

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=1241661.619/969456.932
=1.28078059

PT Argha Karya Prima Industry Tbk's current ratio of this year was 1.1523273. PT Argha Karya Prima Industry Tbk's current ratio of last year was 1.28078059. ==> 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.

PT Argha Karya Prima Industry Tbk's number of shares in issue this year was 612.248. PT Argha Karya Prima Industry Tbk's number of shares in issue last year was 612.248. ==> 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
=234709.778/2753437.183
=0.08524247

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=326270.162/2996710.573
=0.1088761

PT Argha Karya Prima Industry Tbk's gross margin of this year was 0.08524247. PT Argha Karya Prima Industry Tbk's gross margin of last year was 0.1088761. ==> 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 (Mar23)
=2753437.183/3348101.279
=0.82238766

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=2996710.573/3554893.117
=0.84298191

PT Argha Karya Prima Industry Tbk's asset turnover of this year was 0.82238766. PT Argha Karya Prima Industry Tbk's asset turnover of last year was 0.84298191. ==> 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
=0+1+0+1+1+0+1+0+0
=4

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

PT Argha Karya Prima Industry Tbk has an F-score of 4 indicating the company's financial situation is typical for a stable company.

PT Argha Karya Prima Industry Tbk  (ISX:AKPI) 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.


PT Argha Karya Prima Industry Tbk Piotroski F-Score Related Terms

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PT Argha Karya Prima Industry Tbk (ISX:AKPI) Business Description

Traded in Other Exchanges
N/A
Address
Jl. Jendral Sudirman kav.52-53, Prosperity Tower, Floor 51, SCBD Lot.28, District 8, Jakarta, IDN, 12190
PT Argha Karya Prima Industry Tbk produces packaging film products for industrial use and consumer goods items such as cigarettes, food products, paper lamination, labels, and others. The company operates in segments that include Manufacturing and Distribution. The Manufacturing business segment generates maximum revenue for the company. The company's brand includes Arlene and Areta. PT Argha Karya Prima exports its products to Asia, Africa, Europe, America, the Middle East, Europe, Australia, and New Zealand. The majority of the revenue is generated from Indonesia.

PT Argha Karya Prima Industry Tbk (ISX:AKPI) Headlines

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