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APM Automotive Holdings Bhd (XKLS:5015) Piotroski F-Score : 7 (As of May. 05, 2024)


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What is APM Automotive Holdings Bhd Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

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

APM Automotive Holdings Bhd has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for APM Automotive Holdings Bhd's Piotroski F-Score or its related term are showing as below:

XKLS:5015' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 7
Current: 7

During the past 13 years, the highest Piotroski F-Score of APM Automotive Holdings Bhd was 7. The lowest was 1. And the median was 5.


APM Automotive Holdings Bhd Piotroski F-Score Historical Data

The historical data trend for APM Automotive Holdings Bhd'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.

APM Automotive Holdings Bhd Piotroski F-Score Chart

APM Automotive Holdings Bhd Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 6.00 4.00 1.00 6.00

APM Automotive Holdings Bhd Quarterly Data
Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 6.00 6.00 6.00 7.00

Competitive Comparison of APM Automotive Holdings Bhd's Piotroski F-Score

For the Auto Parts subindustry, APM Automotive Holdings Bhd'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.


APM Automotive Holdings Bhd's Piotroski F-Score Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, APM Automotive Holdings Bhd's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where APM Automotive Holdings Bhd'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 8.117 + 9.668 + 2.804 + 25.905 = RM46 Mil.
Cash Flow from Operations was 40.288 + 35.604 + 37.129 + 48.201 = RM161 Mil.
Revenue was 468.927 + 507.082 + 430.42 + 518.449 = RM1,925 Mil.
Gross Profit was 468.927 + 507.082 + 430.42 + 518.449 = RM1,925 Mil.
Average Total Assets from the begining of this year (Sep22)
to the end of this year (Sep23) was
(1919.648 + 1956.696 + 1946.244 + 1921.984 + 1985.523) / 5 = RM1946.019 Mil.
Total Assets at the begining of this year (Sep22) was RM1,920 Mil.
Long-Term Debt & Capital Lease Obligation was RM69 Mil.
Total Current Assets was RM1,107 Mil.
Total Current Liabilities was RM429 Mil.
Net Income was 16.425 + 7.193 + 2.976 + 8.114 = RM35 Mil.

Revenue was 414.957 + 404.455 + 397.941 + 467.843 = RM1,685 Mil.
Gross Profit was 414.957 + 404.455 + 397.941 + 467.843 = RM1,685 Mil.
Average Total Assets from the begining of last year (Sep21)
to the end of last year (Sep22) was
(1740.835 + 1848.648 + 1817.236 + 1835.63 + 1919.648) / 5 = RM1832.3994 Mil.
Total Assets at the begining of last year (Sep21) was RM1,741 Mil.
Long-Term Debt & Capital Lease Obligation was RM69 Mil.
Total Current Assets was RM1,060 Mil.
Total Current Liabilities was RM378 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.

APM Automotive Holdings Bhd's current Net Income (TTM) was 46. ==> 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.

APM Automotive Holdings Bhd's current Cash Flow from Operations (TTM) was 161. ==> 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)
=46.494/1919.648
=0.02422007

ROA (Last Year)=Net Income/Total Assets (Sep21)
=34.708/1740.835
=0.01993756

APM Automotive Holdings Bhd's return on assets of this year was 0.02422007. APM Automotive Holdings Bhd's return on assets of last year was 0.01993756. ==> 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.

APM Automotive Holdings Bhd's current Net Income (TTM) was 46. APM Automotive Holdings Bhd's current Cash Flow from Operations (TTM) was 161. ==> 161 > 46 ==> 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
=68.718/1946.019
=0.03531209

Gearing (Last Year: Sep22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep21 to Sep22
=69.059/1832.3994
=0.03768774

APM Automotive Holdings Bhd's gearing of this year was 0.03531209. APM Automotive Holdings Bhd's gearing of last year was 0.03768774. ==> 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: Sep23)=Total Current Assets/Total Current Liabilities
=1107.049/429.325
=2.57858033

Current Ratio (Last Year: Sep22)=Total Current Assets/Total Current Liabilities
=1059.93/377.572
=2.80722617

APM Automotive Holdings Bhd's current ratio of this year was 2.57858033. APM Automotive Holdings Bhd's current ratio of last year was 2.80722617. ==> 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.

APM Automotive Holdings Bhd's number of shares in issue this year was 195.494. APM Automotive Holdings Bhd's number of shares in issue last year was 195.494. ==> 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
=1924.878/1924.878
=1

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1685.196/1685.196
=1

APM Automotive Holdings Bhd's gross margin of this year was 1. APM Automotive Holdings Bhd's gross margin of last year was 1. ==> 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)
=1924.878/1919.648
=1.00272446

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep21)
=1685.196/1740.835
=0.9680389

APM Automotive Holdings Bhd's asset turnover of this year was 1.00272446. APM Automotive Holdings Bhd's asset turnover of last year was 0.9680389. ==> 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+1+0+1+0+1
=7

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

APM Automotive Holdings Bhd has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

APM Automotive Holdings Bhd  (XKLS:5015) 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.


APM Automotive Holdings Bhd Piotroski F-Score Related Terms

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APM Automotive Holdings Bhd (XKLS:5015) Business Description

Traded in Other Exchanges
N/A
Address
Lot 600, Pandamaran Industrial Estate, Locked Bag No 218, Port Klang, SGR, MYS, 42009
APM Automotive Holdings Bhd is an automotive parts manufacturer. Its operating segments are organised into seven divisions namely, Suspension, Interior and Plastics, Electrical and Heat Exchange, Marketing, Nonreportable Segment, Indonesia Operations and All Other segments. Through its divisions, it offers products like leaf springs, coil springs, shock absorbers, auxiliary components, air-conditioner system and components, automotive seats and others. The Marketing Division comprises activities in the distribution of automotive components and parts manufactured by it for the replacement and export markets. The group operates globally and derives the majority of its revenue in Malaysia. Interior and Plastics segment serves as the revenue driver for the group.

APM Automotive Holdings Bhd (XKLS:5015) Headlines

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