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Intelbras (BSP:INTB3) Piotroski F-Score : 5 (As of Dec. 14, 2024)


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What is Intelbras 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

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

BSP:INTB3' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 5

During the past 8 years, the highest Piotroski F-Score of Intelbras was 7. The lowest was 2. And the median was 5.


Intelbras Piotroski F-Score Historical Data

The historical data trend for Intelbras'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.

Intelbras Piotroski F-Score Chart

Intelbras Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial N/A 5.00 4.00 4.00 7.00

Intelbras Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 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 6.00 7.00 7.00 5.00 5.00

Competitive Comparison of Intelbras's Piotroski F-Score

For the Communication Equipment subindustry, Intelbras'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.


Intelbras's Piotroski F-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Intelbras's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Intelbras'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 (Sep23) TTM:
Net Income was 184.283 + 153.971 + 118.032 + 130.237 = R$587 Mil.
Cash Flow from Operations was 246.849 + 212.342 + 9.315 + 1.472 = R$470 Mil.
Revenue was 1162.421 + 1039.031 + 1185.559 + 1243.88 = R$4,631 Mil.
Gross Profit was 313.221 + 351.899 + 372.895 + 364.482 = R$1,402 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(4720.396 + 4888.285 + 5119.368 + 5526.474 + 5946.61) / 5 = R$5240.2266 Mil.
Total Assets at the begining of this year (Sep23) was R$4,720 Mil.
Long-Term Debt & Capital Lease Obligation was R$788 Mil.
Total Current Assets was R$4,513 Mil.
Total Current Liabilities was R$2,199 Mil.
Net Income was 160.993 + 131.804 + 117.618 + 110.526 = R$521 Mil.

Revenue was 1217.831 + 1036.773 + 970.829 + 933.653 = R$4,159 Mil.
Gross Profit was 344.817 + 327.526 + 334.079 + 302.181 = R$1,309 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(4369.061 + 4987.382 + 4858.367 + 4755.359 + 4720.396) / 5 = R$4738.113 Mil.
Total Assets at the begining of last year (Sep22) was R$4,369 Mil.
Long-Term Debt & Capital Lease Obligation was R$800 Mil.
Total Current Assets was R$3,431 Mil.
Total Current Liabilities was R$1,282 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.

Intelbras's current Net Income (TTM) was 587. ==> 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.

Intelbras's current Cash Flow from Operations (TTM) was 470. ==> 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 (Sep23)
=586.523/4720.396
=0.12425292

ROA (Last Year)=Net Income/Total Assets (Sep22)
=520.941/4369.061
=0.11923409

Intelbras's return on assets of this year was 0.12425292. Intelbras's return on assets of last year was 0.11923409. ==> This year is higher. ==> Score 1.

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.

Intelbras's current Net Income (TTM) was 587. Intelbras's current Cash Flow from Operations (TTM) was 470. ==> 470 <= 587 ==> CFROA <= ROA ==> Score 0.

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 Sep23 to Sep24
=788.447/5240.2266
=0.15046048

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=800.225/4738.113
=0.16889108

Intelbras's gearing of this year was 0.15046048. Intelbras's gearing of last year was 0.16889108. ==> 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
=4512.666/2198.52
=2.05259265

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=3431.024/1281.948
=2.67641433

Intelbras's current ratio of this year was 2.05259265. Intelbras's current ratio of last year was 2.67641433. ==> 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.

Intelbras's number of shares in issue this year was 325.593. Intelbras's number of shares in issue last year was 325.076. ==> There is larger number of shares in issue this year. ==> Score 0.

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
=1402.497/4630.891
=0.30285684

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1308.603/4159.086
=0.31463716

Intelbras's gross margin of this year was 0.30285684. Intelbras's gross margin of last year was 0.31463716. ==> 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 (Sep23)
=4630.891/4720.396
=0.98103867

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=4159.086/4369.061
=0.95194047

Intelbras's asset turnover of this year was 0.98103867. Intelbras's asset turnover of last year was 0.95194047. ==> 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+1+0+1+0+0+0+1
=5

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

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

Intelbras  (BSP:INTB3) 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.


Intelbras Piotroski F-Score Related Terms

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Intelbras Business Description

Traded in Other Exchanges
N/A
Address
BR 101 Highway, km 210 Industrial Area, Sao Jose, SC, BRA
Intelbras SA is engaged in offering solutions in security, networks, communication, and energy. The company has three business segments; Security Segment comprised business lines related to electronic security, such as analog video surveillance equipment (CCTV), IP video surveillance (CCTV IP), alarms and sensors against invasion, alarms and sensors against fire, and access control, Communication Segment comprised of business lines related to voice, image, and data communication, as well as for network infrastructure, and Energy Segment comprised of business lines related to the supply of energy for electric and electronic equipment and consumers in general.

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