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Housing & Development Bank (CAI:HDBK) Piotroski F-Score : 7 (As of May. 08, 2024)


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What is Housing & Development Bank Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, 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

Housing & Development Bank has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Housing & Development Bank's Piotroski F-Score or its related term are showing as below:

CAI:HDBK' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Housing & Development Bank was 8. The lowest was 4. And the median was 6.


Housing & Development Bank Piotroski F-Score Historical Data

The historical data trend for Housing & Development Bank'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.

Housing & Development Bank Piotroski F-Score Chart

Housing & Development Bank Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 5.00 7.00 5.00 8.00

Housing & Development Bank Quarterly Data
Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23
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 7.00 8.00 8.00 8.00 7.00

Competitive Comparison of Housing & Development Bank's Piotroski F-Score

For the Banks - Regional subindustry, Housing & Development Bank'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.


Housing & Development Bank's Piotroski F-Score Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Housing & Development Bank's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Housing & Development Bank'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 (Sep23) TTM:Last Year (Sep22) TTM:
Net Income was 723.521 + 1328.677 + 1945.661 + 1461.681 = E£5,460 Mil.
Cash Flow from Operations was -6714.059 + 11734.478 + -4552.152 + 3672.631 = E£4,141 Mil.
Revenue was 1972.845 + 2512.41 + 3059.505 + 3241.664 = E£10,786 Mil.
Average Total Assets from the begining of this year (Sep22)
to the end of this year (Sep23) was
(106399.584 + 107874.002 + 121303.909 + 115951.572 + 123813.773) / 5 = E£115068.568 Mil.
Total Assets at the begining of this year (Sep22) was E£106,400 Mil.
Long-Term Debt & Capital Lease Obligation was E£1,025 Mil.
Total Assets was E£123,814 Mil.
Total Liabilities was E£107,621 Mil.
Net Income was 443.823 + 625.917 + 669.358 + 691.086 = E£2,430 Mil.

Revenue was 2157.151 + 1279.776 + 1472.186 + 1734.746 = E£6,644 Mil.
Average Total Assets from the begining of last year (Sep21)
to the end of last year (Sep22) was
(72698.05 + 79767.836 + 87133.777 + 95462.507 + 106399.584) / 5 = E£88292.3508 Mil.
Total Assets at the begining of last year (Sep21) was E£72,698 Mil.
Long-Term Debt & Capital Lease Obligation was E£0 Mil.
Total Assets was E£106,400 Mil.
Total Liabilities was E£106,400 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.

Housing & Development Bank's current Net Income (TTM) was 5,460. ==> 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.

Housing & Development Bank's current Cash Flow from Operations (TTM) was 4,141. ==> 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 (Sep22)
=5459.54/106399.584
=0.05131167

ROA (Last Year)=Net Income/Total Assets (Sep21)
=2430.184/72698.05
=0.03342846

Housing & Development Bank's return on assets of this year was 0.05131167. Housing & Development Bank's return on assets of last year was 0.03342846. ==> 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.

Housing & Development Bank's current Net Income (TTM) was 5,460. Housing & Development Bank's current Cash Flow from Operations (TTM) was 4,141. ==> 4,141 <= 5,460 ==> 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: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=1024.585/115068.568
=0.00890413

Gearing (Last Year: Sep22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep21 to Sep22
=0/88292.3508
=0

Housing & Development Bank's gearing of this year was 0.00890413. Housing & Development Bank's gearing of last year was 0. ==> 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

* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.

Current Ratio (This Year: Sep23)=Total Assets/Total Liabilities
=123813.773/107620.791
=1.15046332

Current Ratio (Last Year: Sep22)=Total Assets/Total Liabilities
=106399.584/106399.584
=1

Housing & Development Bank's current ratio of this year was 1.15046332. Housing & Development Bank's current ratio of last year was 1. ==> 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.

Housing & Development Bank's number of shares in issue this year was 531.3. Housing & Development Bank's number of shares in issue last year was 531.3. ==> 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.

* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.

Net Margin (This Year: TTM)=Net Income/Revenue
=5459.54/10786.424
=0.50614921

Net Margin (Last Year: TTM)=Net Income/Revenue
=2430.184/6643.859
=0.36577898

Housing & Development Bank's net margin of this year was 0.50614921. Housing & Development Bank's net margin of last year was 0.36577898. ==> This year's net 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 (Sep22)
=10786.424/106399.584
=0.10137656

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep21)
=6643.859/72698.05
=0.09138978

Housing & Development Bank's asset turnover of this year was 0.10137656. Housing & Development Bank's asset turnover of last year was 0.09138978. ==> 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+0+1+1+1+1
=7

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

Housing & Development Bank has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Housing & Development Bank  (CAI:HDBK) 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.


Housing & Development Bank Piotroski F-Score Related Terms

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Housing & Development Bank (CAI:HDBK) Business Description

Traded in Other Exchanges
N/A
Address
26 El Kroum Street, Mohandessin, Giza, EGY
Housing & Development Bank operates as a bank in the Arab Republic of Egypt. The company provides loans and other services to financial institutions, agricultural, industrial institutions, commercial, services, real estate activity and governmental sector. It operates its business in four segments which are Corporate, Medium and Small Sized Enterprise, Investments, Retail and Other Activities.

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