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Packaging CoOG (MUS:PCLI) Piotroski F-Score : 0 (As of May. 02, 2024)


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What is Packaging CoOG 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

Packaging CoOG 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 Packaging CoOG's Piotroski F-Score or its related term are showing as below:


Packaging CoOG Piotroski F-Score Historical Data

The historical data trend for Packaging CoOG'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.

Packaging CoOG Piotroski F-Score Chart

Packaging CoOG Annual Data
Trend Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 4.00 8.00 8.00 6.00

Packaging CoOG Quarterly Data
Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18
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 9.00 8.00 5.00 6.00 5.00

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 (Mar18) TTM:Last Year (Mar17) TTM:
Net Income was 0.243 + 0.017 + -0.005 + 0.046 = ر.ع0.30 Mil.
Cash Flow from Operations was 0.661 + 1.431 + -0.136 + -0.273 = ر.ع1.68 Mil.
Revenue was 2.364 + 2.474 + 2.573 + 2.475 = ر.ع9.89 Mil.
Gross Profit was 0.557 + 0.469 + 0.118 + 0.35 = ر.ع1.49 Mil.
Average Total Assets from the begining of this year (Mar17)
to the end of this year (Mar18) was
(16.048 + 16.291 + 11.323 + 12.625 + 12.414) / 5 = ر.ع13.7402 Mil.
Total Assets at the begining of this year (Mar17) was ر.ع16.05 Mil.
Long-Term Debt & Capital Lease Obligation was ر.ع0.63 Mil.
Total Current Assets was ر.ع6.30 Mil.
Total Current Liabilities was ر.ع6.55 Mil.
Net Income was 0.244 + 0.186 + 0.029 + 0.341 = ر.ع0.80 Mil.

Revenue was 2.381 + 1.991 + 2.222 + 2.282 = ر.ع8.88 Mil.
Gross Profit was 0.567 + 0.496 + 0.237 + 0.623 = ر.ع1.92 Mil.
Average Total Assets from the begining of last year (Mar16)
to the end of last year (Mar17) was
(15.89 + 16.682 + 16.449 + 15.91 + 16.048) / 5 = ر.ع16.1958 Mil.
Total Assets at the begining of last year (Mar16) was ر.ع15.89 Mil.
Long-Term Debt & Capital Lease Obligation was ر.ع2.44 Mil.
Total Current Assets was ر.ع4.73 Mil.
Total Current Liabilities was ر.ع3.61 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.

Packaging CoOG's current Net Income (TTM) was 0.30. ==> 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.

Packaging CoOG's current Cash Flow from Operations (TTM) was 1.68. ==> 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 (Mar17)
=0.301/16.048
=0.01875623

ROA (Last Year)=Net Income/Total Assets (Mar16)
=0.8/15.89
=0.05034613

Packaging CoOG's return on assets of this year was 0.01875623. Packaging CoOG's return on assets of last year was 0.05034613. ==> 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.

Packaging CoOG's current Net Income (TTM) was 0.30. Packaging CoOG's current Cash Flow from Operations (TTM) was 1.68. ==> 1.68 > 0.30 ==> 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: Mar18)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar17 to Mar18
=0.634/13.7402
=0.04614198

Gearing (Last Year: Mar17)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar16 to Mar17
=2.439/16.1958
=0.1505946

Packaging CoOG's gearing of this year was 0.04614198. Packaging CoOG's gearing of last year was 0.1505946. ==> 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: Mar18)=Total Current Assets/Total Current Liabilities
=6.299/6.551
=0.96153259

Current Ratio (Last Year: Mar17)=Total Current Assets/Total Current Liabilities
=4.727/3.612
=1.30869324

Packaging CoOG's current ratio of this year was 0.96153259. Packaging CoOG's current ratio of last year was 1.30869324. ==> 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.

Packaging CoOG's number of shares in issue this year was 3.096. Packaging CoOG's number of shares in issue last year was 2.987. ==> 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
=1.494/9.886
=0.1511228

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1.923/8.876
=0.21665164

Packaging CoOG's gross margin of this year was 0.1511228. Packaging CoOG's gross margin of last year was 0.21665164. ==> 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 (Mar17)
=9.886/16.048
=0.61602692

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar16)
=8.876/15.89
=0.55859031

Packaging CoOG's asset turnover of this year was 0.61602692. Packaging CoOG's asset turnover of last year was 0.55859031. ==> 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+0+1+1+0+0+0+1
=5

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

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

Packaging CoOG  (MUS:PCLI) 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.


Packaging CoOG Piotroski F-Score Related Terms

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Packaging CoOG (MUS:PCLI) Business Description

Traded in Other Exchanges
N/A
Address
Al-Suwaiq, P.O. Box 2818, Ruwi, OMN, 112
Packaging Co Ltd SAOG is an Oman-based company engaged in the manufacturing and sale of corrugated cartons. It produces different types of the carton, including regular slotted carton (RSC), folding types and die cut types. The company offers micro-flute packaging in addition to B, C, E and F flute, as well as having the facility of a computerized five color printing inline machine and a design studio for artwork and negatives. The group operates in the Sultanate of Oman, all Gulf Cooperation Council (GCC) countries, Korea and Iraq.

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