SELECT id, `name`, primary_key, `key`, treemapgroup, name_cn, zacks_table_name, compare_key, compare_display_name from gurufocu_main.financial_definition where termpagedisplay=1 and `key` = 'fscore'
Banco Nacional de Credito CA (CAR:BNC) Piotroski F-Score
Piotroski F-Score of 1 is low, which usually implies poor business operation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Banco Nacional de Credito CA has an F-score of 1. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for Banco Nacional de Credito CA's Piotroski F-Score or its related term are showing as below:
CAR:BNC'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 5 Max: 7
Current: 1
During the past 11 years, the highest Piotroski F-Score of Banco Nacional de Credito CA was 7. The lowest was 1. And the median was 5.
Banco Nacional de Credito CA Piotroski F-Score Historical Data
The historical data trend for Banco Nacional de Credito CA'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.
Banco Nacional de Credito CA Annual Data
Trend
Dec13
Dec14
Dec15
Dec16
Dec18
Dec19
Dec20
Dec21
Dec22
Dec23
Piotroski F-Score
6.00
7.00
4.00
6.00
1.00
Banco Nacional de Credito CA Semi-Annual Data
Jun13
Dec13
Jun14
Dec14
Jun15
Dec15
Jun16
Dec16
Jun17
Jun18
Dec18
Jun19
Dec19
Jun20
Dec20
Jun21
Dec21
Jun22
Dec22
Dec23
Piotroski F-Score
-
4.00
-
6.00
1.00
Competitive Comparison
For the Banks - Regional subindustry, Banco Nacional de Credito CA'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.
Banco Nacional de Credito CA Piotroski F-Score Distribution
For the Banks industry and Financial Services sector, Banco Nacional de Credito CA's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Banco Nacional de Credito CA'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.
*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.
Banco Nacional de Credito CA's current Net Income (TTM) was 360.
==> 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.
Banco Nacional de Credito CA's current Cash Flow from Operations (TTM) was -96.
==> Negative ==> Score 0.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
Banco Nacional de Credito CA's return on assets of this year was 0.01867972. Banco Nacional de Credito CA's return on assets of last year was 0.04477543.
==> 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.
Banco Nacional de Credito CA's current Net Income (TTM) was 360. Banco Nacional de Credito CA's current Cash Flow from Operations (TTM) was -96.
==> -96 <= 360 ==> 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.
Banco Nacional de Credito CA's gearing of this year was 0.06203043. Banco Nacional de Credito CA's gearing of last year was 0.02373205.
==> 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.
Banco Nacional de Credito CA's current ratio of this year was 1.26611737. Banco Nacional de Credito CA's current ratio of last year was 1.37529087.
==> 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.
Banco Nacional de Credito CA's number of shares in issue this year was 128959.65. Banco Nacional de Credito CA's number of shares in issue last year was 28959.65.
==> 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.
* 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.
Banco Nacional de Credito CA's net margin of this year was 0.19016205. Banco Nacional de Credito CA's net margin of last year was 0.36799347.
==> Last year's net 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
Banco Nacional de Credito CA's asset turnover of this year was 0.09823056. Banco Nacional de Credito CA's asset turnover of last year was 0.12167452.
==> 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
+
0
+
0
+
0
+
0
+
0
+
0
+
0
+
0
=
1
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Banco Nacional de Credito CA has an F-score of 1. It is a bad or low score, which usually implies poor business operation.
Banco Nacional de Credito CA (CAR:BNC) 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.
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.
Banco Nacional de Credito CA Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Banco Nacional de Credito CA's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Banco Nacional de Credito CA (CAR:BNC) Business Description
Banco Nacional de Credito CA operates as a commercial bank in Venezuela. The group's business objective is to provide financial intermediation which consists of the procurement of funds for the purpose of granting credits and it also invests in securities.
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