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ADNOC Gas (ADX:ADNOCGAS) Piotroski F-Score : N/A (As of Oct. 31, 2024)


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What is ADNOC Gas 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

ADNOC Gas 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 ADNOC Gas's Piotroski F-Score or its related term are showing as below:


ADNOC Gas Piotroski F-Score Historical Data

The historical data trend for ADNOC Gas'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.

ADNOC Gas Piotroski F-Score Chart

ADNOC Gas Annual Data
Trend Dec20 Dec21 Dec23
Piotroski F-Score
N/A N/A N/A

ADNOC Gas Quarterly Data
Dec20 Dec21 Oct22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only N/A N/A N/A N/A N/A

Competitive Comparison of ADNOC Gas's Piotroski F-Score

For the Oil & Gas Integrated subindustry, ADNOC Gas'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.


ADNOC Gas's Piotroski F-Score Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, ADNOC Gas's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where ADNOC Gas'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 (Jun24) TTM:Last Year (Jun23) TTM:
Net Income was 4097.853 + 4941.951 + 4360.317 + 4370.627 = د.إ17,771 Mil.
Cash Flow from Operations was 5200.999 + 3032.073 + 5655.53 + 4837.881 = د.إ18,726 Mil.
Revenue was 17516.281 + 18266.601 + 16750.047 + 17862.423 = د.إ70,395 Mil.
Gross Profit was 5383.293 + 2139.414 + 5501.912 + 4904.994 = د.إ17,930 Mil.
Average Total Assets from the begining of this year (Jun23)
to the end of this year (Jun24) was
(0 + 105157.074 + 106587.574 + 111260.101 + 109450.509) / 5 = د.إ108113.8145 Mil.
Total Assets at the begining of this year (Jun23) was د.إ0 Mil.
Long-Term Debt & Capital Lease Obligation was د.إ97 Mil.
Total Current Assets was د.إ24,222 Mil.
Total Current Liabilities was د.إ13,895 Mil.
Net Income was 0 + 0 + 4683.837 + 3612.951 = د.إ8,297 Mil.

Revenue was 0 + 0 + 15040.5 + 14909.371 = د.إ29,950 Mil.
Gross Profit was 0 + 0 + 5051.01 + 3675.762 = د.إ8,727 Mil.
Average Total Assets from the begining of last year (Dec20)
to the end of last year (Jun23) was
(77294.149 + 77646.755 + 81323.406 + 0 + 0) / 5 = د.إ78754.77 Mil.
Total Assets at the begining of last year (Dec20) was د.إ77,294 Mil.
Long-Term Debt & Capital Lease Obligation was د.إ0 Mil.
Total Current Assets was د.إ0 Mil.
Total Current Liabilities was د.إ0 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.

ADNOC Gas's current Net Income (TTM) was 17,771. ==> 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.

ADNOC Gas's current Cash Flow from Operations (TTM) was 18,726. ==> 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 (Jun23)
=17770.748/0
=

ROA (Last Year)=Net Income/Total Assets (Dec20)
=8296.788/77294.149
=0.10734044

ADNOC Gas's return on assets of this year was . ADNOC Gas's return on assets of last year was 0.10734044. ==> 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.

ADNOC Gas's current Net Income (TTM) was 17,771. ADNOC Gas's current Cash Flow from Operations (TTM) was 18,726. ==> 18,726 > 17,771 ==> 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: Jun24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun23 to Jun24
=96.963/108113.8145
=0.00089686

Gearing (Last Year: Jun23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec20 to Jun23
=0/78754.77
=0

ADNOC Gas's gearing of this year was 0.00089686. ADNOC Gas's gearing of last year was 0. ==> 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

Current Ratio (This Year: Jun24)=Total Current Assets/Total Current Liabilities
=24221.575/13895.364
=1.74314073

Current Ratio (Last Year: Jun23)=Total Current Assets/Total Current Liabilities
=0/0
=

ADNOC Gas's current ratio of this year was 1.74314073. ADNOC Gas's current ratio of last year was . ==> 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.

ADNOC Gas's number of shares in issue this year was 76751.422. ADNOC Gas's number of shares in issue last year was 76751.422. ==> 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
=17929.613/70395.352
=0.25469882

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=8726.772/29949.871
=0.29137929

ADNOC Gas's gross margin of this year was 0.25469882. ADNOC Gas's gross margin of last year was 0.29137929. ==> 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 (Jun23)
=70395.352/0
=

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec20)
=29949.871/77294.149
=0.38747915

ADNOC Gas's asset turnover of this year was . ADNOC Gas's asset turnover of last year was 0.38747915. ==> 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+0+1+0+1+1+0+0
=5

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

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

ADNOC Gas  (ADX:ADNOCGAS) 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.


ADNOC Gas Piotroski F-Score Related Terms

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ADNOC Gas Business Description

Comparable Companies
Traded in Other Exchanges
N/A
Address
Al Sarab Tower, Abu Dhabi Global Market Square, Floor 28, Al Maryah Island, Abu Dhabi, ARE
ADNOC Gas PLC is an integrated gas processing company. The Company is responsible for producing, processing, distributing, and marketing natural gas and its derivatives in the UAE and abroad. ADNOC Gas operates a network of pipelines, processing plants, storage facilities, and export terminals that supply gas to various sectors, including power generation, water desalination, petrochemicals, industries, and households. The Company also exports liquefied natural gas (LNG) and liquefied petroleum gas (LPG) to regional and international markets.

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