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Sun TV Network (BOM:532733) Piotroski F-Score : 6 (As of Jun. 16, 2024)


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What is Sun TV Network 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

Sun TV Network 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 Sun TV Network's Piotroski F-Score or its related term are showing as below:

BOM:532733' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 9
Current: 6

During the past 13 years, the highest Piotroski F-Score of Sun TV Network was 9. The lowest was 4. And the median was 6.


Sun TV Network Piotroski F-Score Historical Data

The historical data trend for Sun TV Network'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.

Sun TV Network Piotroski F-Score Chart

Sun TV Network Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 6.00 4.00 6.00 6.00

Sun TV Network Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 6.00 - - - 6.00

Competitive Comparison of Sun TV Network's Piotroski F-Score

For the Broadcasting subindustry, Sun TV Network'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.


Sun TV Network's Piotroski F-Score Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Sun TV Network's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Sun TV Network'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 (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was ₹19,251 Mil.
Cash Flow from Operations was ₹21,713 Mil.
Revenue was ₹42,821 Mil.
Gross Profit was ₹41,396 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was (101480.8 + 114209.5) / 2 = ₹107845.15 Mil.
Total Assets at the begining of this year (Mar23) was ₹101,481 Mil.
Long-Term Debt & Capital Lease Obligation was ₹297 Mil.
Total Current Assets was ₹67,984 Mil.
Total Current Liabilities was ₹8,387 Mil.
Net Income was ₹17,064 Mil.

Revenue was ₹37,721 Mil.
Gross Profit was ₹37,081 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was (88981 + 101480.8) / 2 = ₹95230.9 Mil.
Total Assets at the begining of last year (Mar22) was ₹88,981 Mil.
Long-Term Debt & Capital Lease Obligation was ₹332 Mil.
Total Current Assets was ₹59,509 Mil.
Total Current Liabilities was ₹8,236 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.

Sun TV Network's current Net Income (TTM) was 19,251. ==> 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.

Sun TV Network's current Cash Flow from Operations (TTM) was 21,713. ==> 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 (Mar23)
=19250.7/101480.8
=0.18969795

ROA (Last Year)=Net Income/Total Assets (Mar22)
=17064.1/88981
=0.1917724

Sun TV Network's return on assets of this year was 0.18969795. Sun TV Network's return on assets of last year was 0.1917724. ==> 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.

Sun TV Network's current Net Income (TTM) was 19,251. Sun TV Network's current Cash Flow from Operations (TTM) was 21,713. ==> 21,713 > 19,251 ==> 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: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=296.5/107845.15
=0.00274931

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=332.4/95230.9
=0.00349046

Sun TV Network's gearing of this year was 0.00274931. Sun TV Network's gearing of last year was 0.00349046. ==> 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: Mar24)=Total Current Assets/Total Current Liabilities
=67984/8387.4
=8.10549157

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=59508.9/8235.5
=7.22590007

Sun TV Network's current ratio of this year was 8.10549157. Sun TV Network's current ratio of last year was 7.22590007. ==> 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.

Sun TV Network's number of shares in issue this year was 393.997. Sun TV Network's number of shares in issue last year was 393.999. ==> 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
=41396.1/42821
=0.96672427

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=37081/37720.5
=0.98304635

Sun TV Network's gross margin of this year was 0.96672427. Sun TV Network's gross margin of last year was 0.98304635. ==> 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 (Mar23)
=42821/101480.8
=0.42196159

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=37720.5/88981
=0.42391634

Sun TV Network's asset turnover of this year was 0.42196159. Sun TV Network's asset turnover of last year was 0.42391634. ==> 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+1+1+0+0
=6

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

Sun TV Network has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Sun TV Network  (BOM:532733) 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.


Sun TV Network Piotroski F-Score Related Terms

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Sun TV Network (BOM:532733) Business Description

Traded in Other Exchanges
Address
73, MRC Nagar Main Road, Murasoli Maran Towers, MRC Nagar, Chennai, TN, IND, 600028
Sun TV Network Ltd is a media and entertainment company. The group owns and operates a series of television networks across four languages in the news, music, action, life, movies, kids, and comedy genres. It also airs FM stations in several Indian languages. Its business activities are reported under a single segment being Broadcasting. The company generates revenues from advertising, broadcasting fees, International subscriptions, other subscriptions, movie distribution, and content trading. Geographically, the group is focused on the Indian market with few operations outside India.

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