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Siamrajathanee PCL (BKK:SO) Piotroski F-Score : 5 (As of Apr. 06, 2025)


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What is Siamrajathanee 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

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

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

During the past 10 years, the highest Piotroski F-Score of Siamrajathanee PCL was 6. The lowest was 5. And the median was 5.


Siamrajathanee PCL Piotroski F-Score Historical Data

The historical data trend for Siamrajathanee 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.

Siamrajathanee PCL Piotroski F-Score Chart

Siamrajathanee 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 N/A 6.00 5.00 5.00 5.00

Siamrajathanee 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 5.00 5.00 4.00 5.00 5.00

Competitive Comparison of Siamrajathanee PCL's Piotroski F-Score

For the Specialty Business Services subindustry, Siamrajathanee 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.


Siamrajathanee PCL's Piotroski F-Score Distribution in the Business Services Industry

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

* The bar in red indicates where Siamrajathanee 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 (Dec24) TTM:Last Year (Dec23) TTM:
Net Income was 30.824 + 21.814 + 42.007 + 58.754 = ฿153 Mil.
Cash Flow from Operations was 24.768 + 85.923 + 113.385 + 103.247 = ฿327 Mil.
Revenue was 597.563 + 604.989 + 661.135 + 699.273 = ฿2,563 Mil.
Gross Profit was 100.528 + 95.679 + 103.542 + 113.074 = ฿413 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(2074.339 + 2140.558 + 2259.001 + 2246.696 + 2351.481) / 5 = ฿2214.415 Mil.
Total Assets at the begining of this year (Dec23) was ฿2,074 Mil.
Long-Term Debt & Capital Lease Obligation was ฿681 Mil.
Total Current Assets was ฿553 Mil.
Total Current Liabilities was ฿475 Mil.
Net Income was 45.035 + 60.384 + 41.606 + 36.476 = ฿184 Mil.

Revenue was 578.744 + 582.492 + 586.121 + 599.042 = ฿2,346 Mil.
Gross Profit was 100.221 + 103.223 + 105.2 + 102.352 = ฿411 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(1917.748 + 1959.649 + 1908.9 + 1918.364 + 2074.339) / 5 = ฿1955.8 Mil.
Total Assets at the begining of last year (Dec22) was ฿1,918 Mil.
Long-Term Debt & Capital Lease Obligation was ฿553 Mil.
Total Current Assets was ฿551 Mil.
Total Current Liabilities was ฿392 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.

Siamrajathanee PCL's current Net Income (TTM) was 153. ==> 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.

Siamrajathanee PCL's current Cash Flow from Operations (TTM) was 327. ==> 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)
=153.399/2074.339
=0.07395079

ROA (Last Year)=Net Income/Total Assets (Dec22)
=183.501/1917.748
=0.09568567

Siamrajathanee PCL's return on assets of this year was 0.07395079. Siamrajathanee PCL's return on assets of last year was 0.09568567. ==> 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.

Siamrajathanee PCL's current Net Income (TTM) was 153. Siamrajathanee PCL's current Cash Flow from Operations (TTM) was 327. ==> 327 > 153 ==> 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
=680.587/2214.415
=0.30734393

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=553.114/1955.8
=0.28280704

Siamrajathanee PCL's gearing of this year was 0.30734393. Siamrajathanee PCL's gearing of last year was 0.28280704. ==> 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
=552.586/475.08
=1.16314305

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=550.707/391.643
=1.40614539

Siamrajathanee PCL's current ratio of this year was 1.16314305. Siamrajathanee PCL's current ratio of last year was 1.40614539. ==> 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.

Siamrajathanee PCL's number of shares in issue this year was 476.15. Siamrajathanee PCL's number of shares in issue last year was 476.151. ==> 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
=412.823/2562.96
=0.16107274

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=410.996/2346.399
=0.17516032

Siamrajathanee PCL's gross margin of this year was 0.16107274. Siamrajathanee PCL's gross margin of last year was 0.17516032. ==> 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)
=2562.96/2074.339
=1.23555504

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=2346.399/1917.748
=1.2235179

Siamrajathanee PCL's asset turnover of this year was 1.23555504. Siamrajathanee PCL's asset turnover of last year was 1.2235179. ==> 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+0+0+1+0+1
=5

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

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

Siamrajathanee PCL  (BKK:SO) 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.


Siamrajathanee PCL Piotroski F-Score Related Terms

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Siamrajathanee PCL Business Description

Traded in Other Exchanges
N/A
Address
329 Moo 10, Old Railway Road, Kuson Song Samakkhi Soi 1, Samrong Subdistrict, Phra Pradaeng District, Samutprakarn, THA, 10130
Siamrajathanee PCL is an outsourcing services company in Thailand for both the government and private sectors. It is principally engaged in providing outsourcing services and vehicle operating lease services. The company, along with its subsidiaries, is organized into business units based on its products and services and has the following reportable segments: the Outsourcing service segment, the Rental service segment, and Others. A majority of its revenue is generated from the Outsourcing service segment, which provides services like workforce management, data management, IT outsourcing, platform and process automation, industrial waste management, and others. Geographically, the group operates only in Thailand.