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Siam Cement PCL (BKK:SCC-F) Piotroski F-Score : 6 (As of Jul. 23, 2025)


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What is Siam Cement 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

Siam Cement PCL has an F-score of 6 indicating the company's financial situation is typical for a stable company.

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

BKK:SCC-F' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 6

During the past 13 years, the highest Piotroski F-Score of Siam Cement PCL was 8. The lowest was 4. And the median was 6.


Siam Cement PCL Piotroski F-Score Historical Data

The historical data trend for Siam Cement 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.

Siam Cement PCL Piotroski F-Score Chart

Siam Cement 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 6.00 6.00 5.00 7.00 5.00

Siam Cement PCL 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 5.00 5.00 5.00 5.00 6.00

Competitive Comparison of Siam Cement PCL's Piotroski F-Score

For the Conglomerates subindustry, Siam Cement 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.


Siam Cement PCL's Piotroski F-Score Distribution in the Conglomerates Industry

For the Conglomerates industry and Industrials sector, Siam Cement PCL's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Siam Cement PCL'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 3707.928 + 721.289 + -512.437 + 1098.848 = ฿5,016 Mil.
Cash Flow from Operations was 8087.855 + 5057.389 + 20942.283 + 13537.967 = ฿47,625 Mil.
Revenue was 128195.403 + 128198.952 + 130512.369 + 124392.313 = ฿511,299 Mil.
Gross Profit was 18980.287 + 14451.684 + 14769.638 + 18294.224 = ฿66,496 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(939396.455 + 949478.114 + 867046.443 + 861502.191 + 848076.308) / 5 = ฿893099.9022 Mil.
Total Assets at the begining of this year (Mar24) was ฿939,396 Mil.
Long-Term Debt & Capital Lease Obligation was ฿195,693 Mil.
Total Current Assets was ฿190,361 Mil.
Total Current Liabilities was ฿209,092 Mil.
Net Income was 8082.241 + 2441.366 + -1134.359 + 2424.858 = ฿11,814 Mil.

Revenue was 124630.844 + 125648.645 + 120617.764 + 124265.523 = ฿495,163 Mil.
Gross Profit was 19122.436 + 19118.398 + 15316.176 + 18615.072 = ฿72,172 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(923724.6 + 942017.966 + 960057.693 + 893600.632 + 939396.455) / 5 = ฿931759.4692 Mil.
Total Assets at the begining of last year (Mar23) was ฿923,725 Mil.
Long-Term Debt & Capital Lease Obligation was ฿228,830 Mil.
Total Current Assets was ฿239,820 Mil.
Total Current Liabilities was ฿227,330 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.

Siam Cement PCL's current Net Income (TTM) was 5,016. ==> 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.

Siam Cement PCL's current Cash Flow from Operations (TTM) was 47,625. ==> 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)
=5015.628/939396.455
=0.0053392

ROA (Last Year)=Net Income/Total Assets (Mar23)
=11814.106/923724.6
=0.01278964

Siam Cement PCL's return on assets of this year was 0.0053392. Siam Cement PCL's return on assets of last year was 0.01278964. ==> 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.

Siam Cement PCL's current Net Income (TTM) was 5,016. Siam Cement PCL's current Cash Flow from Operations (TTM) was 47,625. ==> 47,625 > 5,016 ==> 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
=195693.014/893099.9022
=0.2191166

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=228829.774/931759.4692
=0.24558889

Siam Cement PCL's gearing of this year was 0.2191166. Siam Cement PCL's gearing of last year was 0.24558889. ==> 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: Mar25)=Total Current Assets/Total Current Liabilities
=190360.936/209092.269
=0.91041595

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=239819.888/227329.912
=1.05494207

Siam Cement PCL's current ratio of this year was 0.91041595. Siam Cement PCL's current ratio of last year was 1.05494207. ==> 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.

Siam Cement PCL's number of shares in issue this year was 1194.4. Siam Cement PCL's number of shares in issue last year was 1200.425. ==> 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
=66495.833/511299.037
=0.13005272

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=72172.082/495162.776
=0.14575426

Siam Cement PCL's gross margin of this year was 0.13005272. Siam Cement PCL's gross margin of last year was 0.14575426. ==> 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 (Mar24)
=511299.037/939396.455
=0.54428461

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=495162.776/923724.6
=0.53605022

Siam Cement PCL's asset turnover of this year was 0.54428461. Siam Cement PCL's asset turnover of last year was 0.53605022. ==> This year's asset turnover is higher. ==> Score 1.

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+1+0+1+0+1
=6

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

Siam Cement PCL has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Siam Cement PCL  (BKK:SCC-F) 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.


Siam Cement PCL Piotroski F-Score Related Terms

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Siam Cement PCL Business Description

Address
1 Siam Cement Road, Bangsue, Bangkok, THA, 10800
Siam Cement PCL is a holding company which manufactures and sells a variety of building materials, chemicals, and packaging products. Its segment includes SCG Cement and Green Solutions Business, SCG Smart Living Business and SCG Distribution and Retail Business, SCG Decor (SCGD), Chemicals Business (SCGC) and Packaging Business (SCGP). Its geographic segments include Thailand, Vietnam, Indonesia, and Others, and it generates the majority of its revenue from Thailand.

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