GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Thai Industrial Fund 1 (BKK:TIF1) » Definitions » Piotroski F-Score

Thai Industrial Fund 1 (BKK:TIF1) Piotroski F-Score : 8 (As of Dec. 15, 2024)


View and export this data going back to 2005. Start your Free Trial

What is Thai Industrial Fund 1 Piotroski F-Score?

Good Sign:

Piotroski F-Score is 8, indicates a very healthy situation.

The zones of discrimination were as such:

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

Thai Industrial Fund 1 has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Thai Industrial Fund 1's Piotroski F-Score or its related term are showing as below:

BKK:TIF1' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 8

During the past 13 years, the highest Piotroski F-Score of Thai Industrial Fund 1 was 8. The lowest was 4. And the median was 6.


Thai Industrial Fund 1 Piotroski F-Score Historical Data

The historical data trend for Thai Industrial Fund 1'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.

Thai Industrial Fund 1 Piotroski F-Score Chart

Thai Industrial Fund 1 Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 4.00 6.00 6.00 6.00

Thai Industrial Fund 1 Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Jun24 Sep24
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 6.00 7.00 8.00 8.00

Competitive Comparison of Thai Industrial Fund 1's Piotroski F-Score

For the Asset Management subindustry, Thai Industrial Fund 1'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.


Thai Industrial Fund 1's Piotroski F-Score Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Thai Industrial Fund 1's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Thai Industrial Fund 1'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 (Sep24) TTM:Last Year (Jun23) TTM:
Net Income was 10.574 + 16.537 + 10.087 + 9.315 = ฿46.51 Mil.
Cash Flow from Operations was 16.213 + 12.628 + 14.028 + 14.074 = ฿56.94 Mil.
Revenue was 15.159 + 16.51 + 16.304 + 16.215 = ฿64.19 Mil.
Gross Profit was 13.545 + 14.985 + 14.686 + 14.563 = ฿57.78 Mil.
Average Total Assets from the begining of this year (Jun23)
to the end of this year (Sep24) was
(1002.443 + 1004.714 + 1014.582 + 1013.103 + 1006.764) / 5 = ฿1008.3212 Mil.
Total Assets at the begining of this year (Jun23) was ฿1,002.44 Mil.
Long-Term Debt & Capital Lease Obligation was ฿0.00 Mil.
Total Current Assets was ฿13.85 Mil.
Total Current Liabilities was ฿31.83 Mil.
Net Income was 12.597 + 15.231 + 10.427 + 9.559 = ฿47.81 Mil.

Revenue was 15.732 + 15.722 + 14.214 + 14.163 = ฿59.83 Mil.
Gross Profit was 14.129 + 14.067 + 12.677 + 12.681 = ฿53.55 Mil.
Average Total Assets from the begining of last year (Jun22)
to the end of last year (Jun23) was
(1007.371 + 1007.887 + 1010.819 + 1005.464 + 1002.443) / 5 = ฿1006.7968 Mil.
Total Assets at the begining of last year (Jun22) was ฿1,007.37 Mil.
Long-Term Debt & Capital Lease Obligation was ฿0.00 Mil.
Total Current Assets was ฿6.53 Mil.
Total Current Liabilities was ฿25.07 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.

Thai Industrial Fund 1's current Net Income (TTM) was 46.51. ==> 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.

Thai Industrial Fund 1's current Cash Flow from Operations (TTM) was 56.94. ==> 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 (Jun23)
=46.513/1002.443
=0.04639965

ROA (Last Year)=Net Income/Total Assets (Jun22)
=47.814/1007.371
=0.04746414

Thai Industrial Fund 1's return on assets of this year was 0.04639965. Thai Industrial Fund 1's return on assets of last year was 0.04746414. ==> 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.

Thai Industrial Fund 1's current Net Income (TTM) was 46.51. Thai Industrial Fund 1's current Cash Flow from Operations (TTM) was 56.94. ==> 56.94 > 46.51 ==> 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: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun23 to Sep24
=0/1008.3212
=0

Gearing (Last Year: Jun23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun22 to Jun23
=0/1006.7968
=0

Thai Industrial Fund 1's gearing of this year was 0. Thai Industrial Fund 1's gearing of last year was 0. ==> 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: Sep24)=Total Current Assets/Total Current Liabilities
=13.85/31.828
=0.43515144

Current Ratio (Last Year: Jun23)=Total Current Assets/Total Current Liabilities
=6.527/25.066
=0.26039256

Thai Industrial Fund 1's current ratio of this year was 0.43515144. Thai Industrial Fund 1's current ratio of last year was 0.26039256. ==> This year's current ratio is higher. ==> Score 1.

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.

Thai Industrial Fund 1's number of shares in issue this year was 90. Thai Industrial Fund 1's number of shares in issue last year was 90. ==> 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
=57.779/64.188
=0.90015268

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=53.554/59.831
=0.89508783

Thai Industrial Fund 1's gross margin of this year was 0.90015268. Thai Industrial Fund 1's gross margin of last year was 0.89508783. ==> 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 (Jun23)
=64.188/1002.443
=0.06403157

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun22)
=59.831/1007.371
=0.05939321

Thai Industrial Fund 1's asset turnover of this year was 0.06403157. Thai Industrial Fund 1's asset turnover of last year was 0.05939321. ==> 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+1+1+1+1
=8

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

Thai Industrial Fund 1 has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Thai Industrial Fund 1  (BKK:TIF1) 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.


Thai Industrial Fund 1 Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Thai Industrial Fund 1's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Thai Industrial Fund 1 Business Description

Traded in Other Exchanges
N/A
Address
Rama 1 Road, Floor 9th, 24th, No. 989 Siam Piwat Tower, Patumwan District, Bangkok, THA, 10330
Thai Industrial Fund 1 is an asset management company. The objective of the fund is to raise funds from general investors and to use the proceeds from such fundraising for the purchase and/or lease of immovable properties or property lease rights. It invests in land and factory buildings, industrial parks, and industrial promotion zone in Thailand.

Thai Industrial Fund 1 Headlines

No Headlines