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Seafco PCL (BKK:SEAFCO) Piotroski F-Score : 5 (As of Mar. 24, 2025)


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What is Seafco 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

Seafco PCL 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 Seafco PCL's Piotroski F-Score or its related term are showing as below:

BKK:SEAFCO' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 5   Max: 9
Current: 5

During the past 13 years, the highest Piotroski F-Score of Seafco PCL was 9. The lowest was 4. And the median was 5.


Seafco PCL Piotroski F-Score Historical Data

The historical data trend for Seafco 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.

Seafco PCL Piotroski F-Score Chart

Seafco 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 5.00 5.00 4.00 9.00 5.00

Seafco 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 9.00 9.00 9.00 6.00 5.00

Competitive Comparison of Seafco PCL's Piotroski F-Score

For the Engineering & Construction subindustry, Seafco 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.


Seafco PCL's Piotroski F-Score Distribution in the Construction Industry

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

* The bar in red indicates where Seafco 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 (Dec24) TTM:Last Year (Dec23) TTM:
Net Income was 33.437 + 5.606 + -11.058 + -26.626 = ฿1 Mil.
Cash Flow from Operations was -23.256 + 114.857 + -67.248 + 88.828 = ฿113 Mil.
Revenue was 396.614 + 263.435 + 338.504 + 274.459 = ฿1,273 Mil.
Gross Profit was 71.693 + 31.775 + 10.851 + -17.813 = ฿97 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(2565.767 + 2490.385 + 2293.278 + 2301.221 + 2172.706) / 5 = ฿2364.6714 Mil.
Total Assets at the begining of this year (Dec23) was ฿2,566 Mil.
Long-Term Debt & Capital Lease Obligation was ฿22 Mil.
Total Current Assets was ฿715 Mil.
Total Current Liabilities was ฿597 Mil.
Net Income was 58.53 + 12.547 + 62.585 + 35.75 = ฿169 Mil.

Revenue was 473.039 + 436.255 + 489.138 + 387.595 = ฿1,786 Mil.
Gross Profit was 73.604 + 53.991 + 111.161 + 84.562 = ฿323 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(2163.975 + 2473.242 + 2601.216 + 2653.837 + 2565.767) / 5 = ฿2491.6074 Mil.
Total Assets at the begining of last year (Dec22) was ฿2,164 Mil.
Long-Term Debt & Capital Lease Obligation was ฿148 Mil.
Total Current Assets was ฿1,048 Mil.
Total Current Liabilities was ฿780 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.

Seafco PCL's current Net Income (TTM) was 1. ==> 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.

Seafco PCL's current Cash Flow from Operations (TTM) was 113. ==> 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 (Dec23)
=1.359/2565.767
=0.00052967

ROA (Last Year)=Net Income/Total Assets (Dec22)
=169.412/2163.975
=0.07828741

Seafco PCL's return on assets of this year was 0.00052967. Seafco PCL's return on assets of last year was 0.07828741. ==> 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.

Seafco PCL's current Net Income (TTM) was 1. Seafco PCL's current Cash Flow from Operations (TTM) was 113. ==> 113 > 1 ==> 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: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=22.113/2364.6714
=0.00935141

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=148.479/2491.6074
=0.05959165

Seafco PCL's gearing of this year was 0.00935141. Seafco PCL's gearing of last year was 0.05959165. ==> 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: Dec24)=Total Current Assets/Total Current Liabilities
=714.548/596.619
=1.19766216

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=1047.762/780.286
=1.34279226

Seafco PCL's current ratio of this year was 1.19766216. Seafco PCL's current ratio of last year was 1.34279226. ==> 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.

Seafco PCL's number of shares in issue this year was 808.212. Seafco PCL's number of shares in issue last year was 813.679. ==> 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
=96.506/1273.012
=0.07580918

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=323.318/1786.027
=0.18102638

Seafco PCL's gross margin of this year was 0.07580918. Seafco PCL's gross margin of last year was 0.18102638. ==> 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)
=1273.012/2565.767
=0.49615261

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=1786.027/2163.975
=0.82534549

Seafco PCL's asset turnover of this year was 0.49615261. Seafco PCL's asset turnover of last year was 0.82534549. ==> 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+1+0+1+0+0
=5

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

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

Seafco PCL  (BKK:SEAFCO) 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.


Seafco PCL Piotroski F-Score Related Terms

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Seafco PCL Business Description

Traded in Other Exchanges
Address
144 Prayasuren Road, Bangchan, Khlong Sam Wah, Bangkok, THA, 10510
Seafco PCL is a Thailand-based company engaged in construction of foundation and general public works. Its services include bored piling, diaphragm walling, barrette piling, substructure works, civil construction, ground improvement, and ancillary services. Its diaphragm walls are used for deep basements, underpass tunnels, cut and cover tunnels. Geographically, the firm caters its services to the domestic and overseas markets.

Seafco PCL Headlines

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