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Mida Assets PCL (BKK:MIDA) Piotroski F-Score : 0 (As of Apr. 02, 2025)


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What is Mida Assets PCL Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 0 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Mida Assets PCL has an F-score of 0. It is a bad or low score, which usually implies poor business operation.

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

During the past 13 years, the highest Piotroski F-Score of Mida Assets PCL was 8. The lowest was 0. And the median was 4.


Mida Assets PCL Piotroski F-Score Historical Data

The historical data trend for Mida Assets 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.

Mida Assets PCL Piotroski F-Score Chart

Mida Assets PCL 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 2.00 5.00 8.00 -

Mida Assets PCL Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
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 1.00 -

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 (Dec24) TTM:Last Year (Dec23) TTM:
Net Income was -16.302 + -69.939 + -64.268 + -61.781 = ฿-212 Mil.
Cash Flow from Operations was -23.799 + -195.729 + -17.479 + 5.621 = ฿-231 Mil.
Revenue was 546.661 + 473.604 + 502.21 + 572.845 = ฿2,095 Mil.
Gross Profit was 276.828 + 224.306 + 194.6 + 258.442 = ฿954 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(10533.492 + 10677.415 + 10899.868 + 11221.614 + 11491.676) / 5 = ฿10964.813 Mil.
Total Assets at the begining of this year (Dec23) was ฿10,533 Mil.
Long-Term Debt & Capital Lease Obligation was ฿2,000 Mil.
Total Current Assets was ฿5,051 Mil.
Total Current Liabilities was ฿4,668 Mil.
Net Income was 39.289 + 150.666 + 140.622 + -38.636 = ฿292 Mil.

Revenue was 740.559 + 637.589 + 908.028 + 626.541 = ฿2,913 Mil.
Gross Profit was 353.589 + 298.331 + 517.317 + 291.209 = ฿1,460 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(11026.524 + 10946.869 + 10758.33 + 10574.772 + 10533.492) / 5 = ฿10767.9974 Mil.
Total Assets at the begining of last year (Dec22) was ฿11,027 Mil.
Long-Term Debt & Capital Lease Obligation was ฿1,655 Mil.
Total Current Assets was ฿4,346 Mil.
Total Current Liabilities was ฿3,893 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.

Mida Assets PCL's current Net Income (TTM) was -212. ==> Negative ==> Score 0.

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.

Mida Assets PCL's current Cash Flow from Operations (TTM) was -231. ==> Negative ==> Score 0.

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 (Dec23)
=-212.29/10533.492
=-0.02015381

ROA (Last Year)=Net Income/Total Assets (Dec22)
=291.941/11026.524
=0.02647625

Mida Assets PCL's return on assets of this year was -0.02015381. Mida Assets PCL's return on assets of last year was 0.02647625. ==> 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.

Mida Assets PCL's current Net Income (TTM) was -212. Mida Assets PCL's current Cash Flow from Operations (TTM) was -231. ==> -231 <= -212 ==> 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: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=2000.214/10964.813
=0.18242117

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=1655.251/10767.9974
=0.15371948

Mida Assets PCL's gearing of this year was 0.18242117. Mida Assets PCL's gearing of last year was 0.15371948. ==> 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: Dec24)=Total Current Assets/Total Current Liabilities
=5050.781/4668.178
=1.08195981

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=4346.004/3893.322
=1.1162714

Mida Assets PCL's current ratio of this year was 1.08195981. Mida Assets PCL's current ratio of last year was 1.1162714. ==> 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.

Mida Assets PCL's number of shares in issue this year was 2504.099. Mida Assets PCL's number of shares in issue last year was 2504.096. ==> 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
=954.176/2095.32
=0.45538438

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1460.446/2912.717
=0.50140333

Mida Assets PCL's gross margin of this year was 0.45538438. Mida Assets PCL's gross margin of last year was 0.50140333. ==> 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 (Dec23)
=2095.32/10533.492
=0.19891979

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=2912.717/11026.524
=0.2641555

Mida Assets PCL's asset turnover of this year was 0.19891979. Mida Assets PCL's asset turnover of last year was 0.2641555. ==> 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
=0+0+0+0+0+0+0+0+0
=0

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

Mida Assets PCL has an F-score of 0. It is a bad or low score, which usually implies poor business operation.

Mida Assets PCL  (BKK:MIDA) 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.


Mida Assets PCL Piotroski F-Score Related Terms

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Mida Assets PCL Business Description

Traded in Other Exchanges
Address
267 Charansanitwong Road, Bang-Or, Bangplad, Bangkok, THA, 10700
Mida Assets PCL is a Thailand-based company engaged in different businesses such as sales of merchandise and hire-purchases financing for electronic equipment and used cars, real estate development, hotel operations services and management, golf course rental, agency for sale of real estate, advertising, public relation and events organizing services, providing financial services, management of non-performing assets and security guard services. Its segments include the Hire-purchase business, Real estate development, Hotel operation, Agency for sale real estate, and Advertising, public relations, and events services, of which key revenue is derived from the Hire-purchase business. The group has a business presence in Thailand and other countries.

Mida Assets PCL Headlines

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