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Major Cineplex Group (BKK:MAJOR-R) Piotroski F-Score : 4 (As of Jul. 20, 2025)


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What is Major Cineplex Group 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

Major Cineplex Group 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 Major Cineplex Group's Piotroski F-Score or its related term are showing as below:

BKK:MAJOR-R' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 8
Current: 4

During the past 13 years, the highest Piotroski F-Score of Major Cineplex Group was 8. The lowest was 1. And the median was 5.


Major Cineplex Group Piotroski F-Score Historical Data

The historical data trend for Major Cineplex Group'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.

Major Cineplex Group Piotroski F-Score Chart

Major Cineplex Group Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.00 5.00 6.00 8.00 5.00

Major Cineplex Group Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
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 8.00 8.00 6.00 5.00 4.00

Competitive Comparison of Major Cineplex Group's Piotroski F-Score

For the Entertainment subindustry, Major Cineplex Group'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.


Major Cineplex Group's Piotroski F-Score Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Major Cineplex Group's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Major Cineplex Group's Piotroski F-Score falls into.


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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 (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was 232.223 + 50.332 + 321.412 + 33.207 = ฿637 Mil.
Cash Flow from Operations was 276.228 + 0.132 + 729.37 + -207.213 = ฿799 Mil.
Revenue was 2032.656 + 1659.688 + 2354.845 + 1418.969 = ฿7,466 Mil.
Gross Profit was 723.505 + 578.396 + 882.779 + 500.421 = ฿2,685 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(14616.588 + 14404.005 + 14019.148 + 14039.029 + 13837.119) / 5 = ฿14183.1778 Mil.
Total Assets at the begining of this year (Mar24) was ฿14,617 Mil.
Long-Term Debt & Capital Lease Obligation was ฿4,506 Mil.
Total Current Assets was ฿3,030 Mil.
Total Current Liabilities was ฿3,379 Mil.
Net Income was 532.483 + 104.376 + 334.843 + 140.312 = ฿1,112 Mil.

Revenue was 2283.032 + 1740.785 + 2937.137 + 1719.316 = ฿8,680 Mil.
Gross Profit was 751.154 + 504.927 + 1147.756 + 535.597 = ฿2,939 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(14124.719 + 14509.009 + 14470.968 + 14425.954 + 14616.588) / 5 = ฿14429.4476 Mil.
Total Assets at the begining of last year (Mar23) was ฿14,125 Mil.
Long-Term Debt & Capital Lease Obligation was ฿3,697 Mil.
Total Current Assets was ฿3,804 Mil.
Total Current Liabilities was ฿4,054 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.

Major Cineplex Group's current Net Income (TTM) was 637. ==> 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.

Major Cineplex Group's current Cash Flow from Operations (TTM) was 799. ==> 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 (Mar24)
=637.174/14616.588
=0.04359253

ROA (Last Year)=Net Income/Total Assets (Mar23)
=1112.014/14124.719
=0.07872822

Major Cineplex Group's return on assets of this year was 0.04359253. Major Cineplex Group's return on assets of last year was 0.07872822. ==> 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.

Major Cineplex Group's current Net Income (TTM) was 637. Major Cineplex Group's current Cash Flow from Operations (TTM) was 799. ==> 799 > 637 ==> 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: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=4505.765/14183.1778
=0.31768374

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=3696.561/14429.4476
=0.25618174

Major Cineplex Group's gearing of this year was 0.31768374. Major Cineplex Group's gearing of last year was 0.25618174. ==> 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: Mar25)=Total Current Assets/Total Current Liabilities
=3029.866/3379.272
=0.89660317

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=3803.673/4054.242
=0.93819585

Major Cineplex Group's current ratio of this year was 0.89660317. Major Cineplex Group's current ratio of last year was 0.93819585. ==> 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.

Major Cineplex Group's number of shares in issue this year was 830.175. Major Cineplex Group's number of shares in issue last year was 825.365. ==> There is larger number of shares in issue this year. ==> Score 0.

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
=2685.101/7466.158
=0.35963624

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2939.434/8680.27
=0.33863394

Major Cineplex Group's gross margin of this year was 0.35963624. Major Cineplex Group's gross margin of last year was 0.33863394. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar24)
=7466.158/14616.588
=0.51080033

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=8680.27/14124.719
=0.61454462

Major Cineplex Group's asset turnover of this year was 0.51080033. Major Cineplex Group's asset turnover of last year was 0.61454462. ==> 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+0+0+1+0
=4

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

Major Cineplex Group has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Major Cineplex Group  (BKK:MAJOR-R) 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.


Major Cineplex Group Piotroski F-Score Related Terms

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Major Cineplex Group Business Description

Traded in Other Exchanges
Address
1839, 1839/1-6 Phaholyothin Road, Ladyao, Jatujak, Bangkok, THA, 10900
Major Cineplex Group PLC is a diversified media company predominantly engaged in the operation of cinemas. The company's reportable segments include the cinema business, advertising business, bowling and karaoke business, rental and services business, and movie content business. The cinema business segment, which generates maximum revenue, owns and manages several chains of movie theaters and brands. The advertising and media business offers on-screen advertising and media solutions. The bowling and karaoke services offer its namesake services in branded outlets. The rental and services business leases real estate space, and the movie content segment funds, produces, and distributes feature film content, as well as content on the home video market.

Major Cineplex Group Headlines

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