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Siddhartha Bank (XNEP:SBL) Piotroski F-Score : 7 (As of May. 27, 2024)


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What is Siddhartha Bank 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

Siddhartha Bank 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 Siddhartha Bank's Piotroski F-Score or its related term are showing as below:

XNEP:SBL' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 4   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Siddhartha Bank was 8. The lowest was 2. And the median was 4.


Siddhartha Bank Piotroski F-Score Historical Data

The historical data trend for Siddhartha Bank'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.

Siddhartha Bank Piotroski F-Score Chart

Siddhartha Bank Annual Data
Trend Jul14 Jul15 Jul16 Jul17 Jul18 Jul19 Jul20 Jul21 Jul22 Jul23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.00 4.00 7.00 3.00 5.00

Siddhartha Bank Quarterly Data
Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24
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 4.00 3.00 5.00 6.00 7.00

Competitive Comparison of Siddhartha Bank's Piotroski F-Score

For the Banks - Regional subindustry, Siddhartha Bank'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.


Siddhartha Bank's Piotroski F-Score Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Siddhartha Bank's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Siddhartha Bank'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 (Jan24) TTM:Last Year (Jan23) TTM:
Net Income was 333.359 + 1673.194 + 58.07 + 1112.42 = NPR3,177 Mil.
Cash Flow from Operations was 15241.101 + 3757.908 + -4792.572 + -3809.38 = NPR10,397 Mil.
Revenue was 2554.809 + 2623.12 + 2514.024 + 2623.393 = NPR10,315 Mil.
Average Total Assets from the begining of this year (Jan23)
to the end of this year (Jan24) was
(257641.2 + 274307.967 + 286371.971 + 283483.922 + 287856.227) / 5 = NPR277932.2574 Mil.
Total Assets at the begining of this year (Jan23) was NPR257,641 Mil.
Long-Term Debt & Capital Lease Obligation was NPR19,049 Mil.
Total Assets was NPR287,856 Mil.
Total Liabilities was NPR261,727 Mil.
Net Income was 508.321 + 798.931 + 505.644 + 686.389 = NPR2,499 Mil.

Revenue was 2215.274 + 2306.276 + 2662.973 + 2375.296 = NPR9,560 Mil.
Average Total Assets from the begining of last year (Jan22)
to the end of last year (Jan23) was
(238502.778 + 247760.352 + 264736.276 + 259360.765 + 257641.2) / 5 = NPR253600.2742 Mil.
Total Assets at the begining of last year (Jan22) was NPR238,503 Mil.
Long-Term Debt & Capital Lease Obligation was NPR11,663 Mil.
Total Assets was NPR257,641 Mil.
Total Liabilities was NPR234,266 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.

Siddhartha Bank's current Net Income (TTM) was 3,177. ==> 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.

Siddhartha Bank's current Cash Flow from Operations (TTM) was 10,397. ==> 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 (Jan23)
=3177.043/257641.2
=0.01233127

ROA (Last Year)=Net Income/Total Assets (Jan22)
=2499.285/238502.778
=0.01047906

Siddhartha Bank's return on assets of this year was 0.01233127. Siddhartha Bank's return on assets of last year was 0.01047906. ==> 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.

Siddhartha Bank's current Net Income (TTM) was 3,177. Siddhartha Bank's current Cash Flow from Operations (TTM) was 10,397. ==> 10,397 > 3,177 ==> 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: Jan24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jan23 to Jan24
=19048.748/277932.2574
=0.06853738

Gearing (Last Year: Jan23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jan22 to Jan23
=11662.559/253600.2742
=0.04598796

Siddhartha Bank's gearing of this year was 0.06853738. Siddhartha Bank's gearing of last year was 0.04598796. ==> 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

* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.

Current Ratio (This Year: Jan24)=Total Assets/Total Liabilities
=287856.227/261727.128
=1.09983336

Current Ratio (Last Year: Jan23)=Total Assets/Total Liabilities
=257641.2/234266.088
=1.09978018

Siddhartha Bank's current ratio of this year was 1.09983336. Siddhartha Bank's current ratio of last year was 1.09978018. ==> 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.

Siddhartha Bank's number of shares in issue this year was 141.529. Siddhartha Bank's number of shares in issue last year was 143.296. ==> 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.

* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.

Net Margin (This Year: TTM)=Net Income/Revenue
=3177.043/10315.346
=0.3079919

Net Margin (Last Year: TTM)=Net Income/Revenue
=2499.285/9559.819
=0.26143644

Siddhartha Bank's net margin of this year was 0.3079919. Siddhartha Bank's net margin of last year was 0.26143644. ==> This year's net 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jan23)
=10315.346/257641.2
=0.04003764

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jan22)
=9559.819/238502.778
=0.04008263

Siddhartha Bank's asset turnover of this year was 0.04003764. Siddhartha Bank's asset turnover of last year was 0.04008263. ==> 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
=1+1+1+1+0+1+1+1+0
=7

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

Siddhartha Bank has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Siddhartha Bank  (XNEP:SBL) 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.


Siddhartha Bank Piotroski F-Score Related Terms

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Siddhartha Bank (XNEP:SBL) Business Description

Traded in Other Exchanges
N/A
Address
130/23, Hattisar, Kamaladi, P.O.Box 13806, Kathmandu, NPL
Siddhartha Bank Ltd is a commercial bank. It provides commercial banking services, trade finance services, personal and corporate banking services, treasury and correspondent banking, mutual fund, bancassurance, and other banking services.

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