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Enauta Participacoes (BSP:ENAT3) Piotroski F-Score : 0 (As of Jul. 24, 2025)


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What is Enauta Participacoes 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

Enauta Participacoes has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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


Enauta Participacoes Piotroski F-Score Historical Data

The historical data trend for Enauta Participacoes'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.

Enauta Participacoes Piotroski F-Score Chart

Enauta Participacoes Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 5.00 6.00 5.00 3.00

Enauta Participacoes Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
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 4.00 4.00 3.00 5.00 4.00

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 (Jun24) TTM:Last Year (Jun23) TTM:
Net Income was -272.488 + 67.544 + 209.191 + -219.076 = R$-215 Mil.
Cash Flow from Operations was -12.326 + -48.366 + 430.303 + 522.109 = R$892 Mil.
Revenue was 96.044 + 426.722 + 815.961 + 553.755 = R$1,892 Mil.
Gross Profit was -164.44 + 55.054 + 332.001 + 147.369 = R$370 Mil.
Average Total Assets from the begining of this year (Jun23)
to the end of this year (Jun24) was
(7749.812 + 8162.98 + 8137.085 + 8794.179 + 12848.879) / 5 = R$9138.587 Mil.
Total Assets at the begining of this year (Jun23) was R$7,750 Mil.
Long-Term Debt & Capital Lease Obligation was R$5,175 Mil.
Total Current Assets was R$5,563 Mil.
Total Current Liabilities was R$2,218 Mil.
Net Income was 18.894 + 182.087 + 118.444 + 41.106 = R$361 Mil.

Revenue was 166.849 + 657.132 + 445.692 + 420.104 = R$1,690 Mil.
Gross Profit was 27.087 + 370.332 + 213.247 + 178.912 = R$790 Mil.
Average Total Assets from the begining of last year (Jun22)
to the end of last year (Jun23) was
(5992.807 + 6095.315 + 8276.064 + 7907.983 + 7749.812) / 5 = R$7204.3962 Mil.
Total Assets at the begining of last year (Jun22) was R$5,993 Mil.
Long-Term Debt & Capital Lease Obligation was R$1,407 Mil.
Total Current Assets was R$2,019 Mil.
Total Current Liabilities was R$1,624 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.

Enauta Participacoes's current Net Income (TTM) was -215. ==> Negative ==> Score 0.

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.

Enauta Participacoes's current Cash Flow from Operations (TTM) was 892. ==> 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)
=-214.829/7749.812
=-0.02772054

ROA (Last Year)=Net Income/Total Assets (Jun22)
=360.531/5992.807
=0.06016062

Enauta Participacoes's return on assets of this year was -0.02772054. Enauta Participacoes's return on assets of last year was 0.06016062. ==> 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.

Enauta Participacoes's current Net Income (TTM) was -215. Enauta Participacoes's current Cash Flow from Operations (TTM) was 892. ==> 892 > -215 ==> 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: Jun24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun23 to Jun24
=5175.438/9138.587
=0.56632803

Gearing (Last Year: Jun23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun22 to Jun23
=1407.064/7204.3962
=0.1953063

Enauta Participacoes's gearing of this year was 0.56632803. Enauta Participacoes's gearing of last year was 0.1953063. ==> 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: Jun24)=Total Current Assets/Total Current Liabilities
=5563.309/2218.362
=2.50784543

Current Ratio (Last Year: Jun23)=Total Current Assets/Total Current Liabilities
=2019.078/1623.504
=1.24365447

Enauta Participacoes's current ratio of this year was 2.50784543. Enauta Participacoes's current ratio of last year was 1.24365447. ==> 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.

Enauta Participacoes's number of shares in issue this year was 263.475. Enauta Participacoes's number of shares in issue last year was 263.475. ==> 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
=369.984/1892.482
=0.19550199

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=789.578/1689.777
=0.46726757

Enauta Participacoes's gross margin of this year was 0.19550199. Enauta Participacoes's gross margin of last year was 0.46726757. ==> 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 (Jun23)
=1892.482/7749.812
=0.24419715

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun22)
=1689.777/5992.807
=0.28196753

Enauta Participacoes's asset turnover of this year was 0.24419715. Enauta Participacoes's asset turnover of last year was 0.28196753. ==> 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
=0+1+0+1+0+1+1+0+0
=4

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

Enauta Participacoes has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Enauta Participacoes  (BSP:ENAT3) 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.


Enauta Participacoes Piotroski F-Score Related Terms

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Enauta Participacoes Business Description

Traded in Other Exchanges
N/A
Address
Almirante Barroso Avenue 52, Room 1301, Central district, Rio de Janeiro, RJ, BRA, 20031-918
Enauta Participacoes SA is a Brazilian company that is principally engaged in the exploration, production, and sale of oil and natural gas products. The company's exploration and production areas include Santos Basin, Espirito Santo Basin, Camamu-Almada Basin, Sergipe-Alagoas Basin, Ceara Basin, Para-Maranhao Basin, and Foz do Amazonas Basin.

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