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
Kia 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 Kia's Piotroski F-Score or its related term are showing as below:
XKRX:000270'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 5 Max: 9
Current: 7
During the past 13 years, the highest Piotroski F-Score of Kia was 9. The lowest was 4. And the median was 5.
Kia Piotroski F-Score Historical Data
The historical data trend for Kia'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.
For the Auto Manufacturers subindustry, Kia'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.
Kia's Piotroski F-Score Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Kia's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Kia'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 2816929 + 2220399 + 1620140 + 2807904 = ₩9,465,372 Mil. Cash Flow from Operations was 4202378 + 4368226 + 288118 + 0 = ₩8,858,722 Mil. Revenue was 26244214 + 25545392 + 24328154 + 26212851 = ₩102,330,611 Mil. Gross Profit was 6066479 + 5859813 + 5329153 + 6236107 = ₩23,491,552 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(77612656 + 78397010 + 81644181 + 80627826 + 83628837) / 5 = ₩80382102 Mil. Total Assets at the begining of this year (Mar23) was ₩77,612,656 Mil. Long-Term Debt & Capital Lease Obligation was ₩0 Mil. Total Current Assets was ₩39,131,571 Mil. Total Current Liabilities was ₩28,427,265 Mil.
Net Income was 1881072 + 458703 + 2036897 + 2119502 = ₩6,496,174 Mil.
Revenue was 21875984 + 23161648 + 23164161 + 23690660 = ₩91,892,453 Mil. Gross Profit was 4576554 + 4698330 + 5157156 + 5373402 = ₩19,805,442 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(68194082 + 72735903 + 75857239 + 73710965 + 77612656) / 5 = ₩73622169 Mil. Total Assets at the begining of last year (Mar22) was ₩68,194,082 Mil. Long-Term Debt & Capital Lease Obligation was ₩3,896,491 Mil. Total Current Assets was ₩37,357,366 Mil. Total Current Liabilities was ₩28,363,400 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.
Kia's current Net Income (TTM) was 9,465,372.
==> 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.
Kia's return on assets of this year was 0.12195655. Kia's return on assets of last year was 0.09526008.
==> 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.
Kia's current Net Income (TTM) was 9,465,372. Kia's current Cash Flow from Operations (TTM) was 8,858,722.
==> 8,858,722 <= 9,465,372 ==> 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.
Kia's current ratio of this year was 1.37655068. Kia's current ratio of last year was 1.3170976.
==> 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.
Kia's number of shares in issue this year was 0. Kia's number of shares in issue last year was 398.153.
==> 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.
Kia's gross margin of this year was 0.22956525. Kia's gross margin of last year was 0.21552849.
==> 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
Kia's asset turnover of this year was 1.31847841. Kia's asset turnover of last year was 1.3475136.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Kia has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Kia (XKRX:000270) 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.
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.
Kia Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Kia's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Kia Corp is a Korean motor-vehicle manufacturer. While the company has factories in several countries, the majority of vehicles are manufactured domestically. The company's consolidated revenue is principally derived from the manufacture of passenger vehicles, with another third from recreational vehicles, and a small footprint in commercial vehicles. The three largest individual countries together constitute more than half of total retail sales, with the United States contributing the largest portion, followed closely by China and then Korea.
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