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Kijcharoen Engineering Electric PCL (BKK:KJL) Piotroski F-Score : 4 (As of Dec. 13, 2024)


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What is Kijcharoen Engineering Electric PCL 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

Kijcharoen Engineering Electric PCL has an F-score of 4 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Kijcharoen Engineering Electric PCL's Piotroski F-Score or its related term are showing as below:

BKK:KJL' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 5   Max: 6
Current: 4

During the past 4 years, the highest Piotroski F-Score of Kijcharoen Engineering Electric PCL was 6. The lowest was 4. And the median was 5.


Kijcharoen Engineering Electric PCL Piotroski F-Score Historical Data

The historical data trend for Kijcharoen Engineering Electric PCL'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.

Kijcharoen Engineering Electric PCL Piotroski F-Score Chart

Kijcharoen Engineering Electric PCL Annual Data
Trend Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
N/A N/A N/A 6.00

Kijcharoen Engineering Electric PCL Quarterly Data
Dec20 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
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 N/A 6.00 N/A N/A 4.00

Competitive Comparison of Kijcharoen Engineering Electric PCL's Piotroski F-Score

For the Metal Fabrication subindustry, Kijcharoen Engineering Electric PCL'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.


Kijcharoen Engineering Electric PCL's Piotroski F-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Kijcharoen Engineering Electric PCL's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Kijcharoen Engineering Electric PCL'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 (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was 30.687 + 34.622 + 50.067 + 43.377 = ฿159 Mil.
Cash Flow from Operations was 35.251 + 25.549 + 39.144 + 39.802 = ฿140 Mil.
Revenue was 274.534 + 284.496 + 298.88 + 291.216 = ฿1,149 Mil.
Gross Profit was 82.542 + 81.903 + 92.883 + 88.371 = ฿346 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(1083.761 + 1057.773 + 1106.695 + 1134.251 + 1193.159) / 5 = ฿1115.1278 Mil.
Total Assets at the begining of this year (Sep23) was ฿1,084 Mil.
Long-Term Debt & Capital Lease Obligation was ฿27 Mil.
Total Current Assets was ฿447 Mil.
Total Current Liabilities was ฿503 Mil.
Net Income was 33.402 + 33.653 + 39.614 + 48.505 = ฿155 Mil.

Revenue was 265.607 + 239.634 + 287.485 + 281.069 = ฿1,074 Mil.
Gross Profit was 81.733 + 73.95 + 81.614 + 93.762 = ฿331 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(786.426 + 1125.521 + 1129.526 + 1133.086 + 1083.761) / 5 = ฿1051.664 Mil.
Total Assets at the begining of last year (Sep22) was ฿786 Mil.
Long-Term Debt & Capital Lease Obligation was ฿72 Mil.
Total Current Assets was ฿403 Mil.
Total Current Liabilities was ฿401 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.

Kijcharoen Engineering Electric PCL's current Net Income (TTM) was 159. ==> 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.

Kijcharoen Engineering Electric PCL's current Cash Flow from Operations (TTM) was 140. ==> 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 (Sep23)
=158.753/1083.761
=0.1464834

ROA (Last Year)=Net Income/Total Assets (Sep22)
=155.174/786.426
=0.19731545

Kijcharoen Engineering Electric PCL's return on assets of this year was 0.1464834. Kijcharoen Engineering Electric PCL's return on assets of last year was 0.19731545. ==> 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.

Kijcharoen Engineering Electric PCL's current Net Income (TTM) was 159. Kijcharoen Engineering Electric PCL's current Cash Flow from Operations (TTM) was 140. ==> 140 <= 159 ==> 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.

Gearing (This Year: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=26.911/1115.1278
=0.02413266

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=72.34/1051.664
=0.06878623

Kijcharoen Engineering Electric PCL's gearing of this year was 0.02413266. Kijcharoen Engineering Electric PCL's gearing of last year was 0.06878623. ==> 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: Sep24)=Total Current Assets/Total Current Liabilities
=446.629/503.489
=0.88706804

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=402.88/400.748
=1.00532005

Kijcharoen Engineering Electric PCL's current ratio of this year was 0.88706804. Kijcharoen Engineering Electric PCL's current ratio of last year was 1.00532005. ==> 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.

Kijcharoen Engineering Electric PCL's number of shares in issue this year was 231.998. Kijcharoen Engineering Electric PCL's number of shares in issue last year was 231.998. ==> 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
=345.699/1149.126
=0.30083646

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=331.059/1073.795
=0.30830745

Kijcharoen Engineering Electric PCL's gross margin of this year was 0.30083646. Kijcharoen Engineering Electric PCL's gross margin of last year was 0.30830745. ==> 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 (Sep23)
=1149.126/1083.761
=1.06031311

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=1073.795/786.426
=1.36541137

Kijcharoen Engineering Electric PCL's asset turnover of this year was 1.06031311. Kijcharoen Engineering Electric PCL's asset turnover of last year was 1.36541137. ==> 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+0+1+0+1+0+0
=4

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

Kijcharoen Engineering Electric PCL has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Kijcharoen Engineering Electric PCL  (BKK:KJL) 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.


Kijcharoen Engineering Electric PCL Piotroski F-Score Related Terms

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Kijcharoen Engineering Electric PCL Business Description

Traded in Other Exchanges
N/A
Address
61 and 61/5 Moo 8 Soi Wirunrat Setthakit Road, Thamai, Krathum Baen, Samut Sakhon, THA, 74110
Kijcharoen Engineering Electric PCL is engaged in the business of manufacturing and distribution of electrical cabinet, cable tray systems, electrical wiring equipment, and customized sheet metal works.

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