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Union Properties PJSC (DFM:UPP) Piotroski F-Score : 7 (As of Dec. 12, 2024)


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What is Union Properties PJSC 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

Union Properties PJSC 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 Union Properties PJSC's Piotroski F-Score or its related term are showing as below:

DFM:UPP' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Union Properties PJSC was 8. The lowest was 2. And the median was 5.


Union Properties PJSC Piotroski F-Score Historical Data

The historical data trend for Union Properties PJSC'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.

Union Properties PJSC Piotroski F-Score Chart

Union Properties PJSC 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 3.00 5.00 5.00 7.00 6.00

Union Properties PJSC 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 7.00 6.00 8.00 8.00 7.00

Competitive Comparison of Union Properties PJSC's Piotroski F-Score

For the Conglomerates subindustry, Union Properties PJSC'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.


Union Properties PJSC's Piotroski F-Score Distribution in the Conglomerates Industry

For the Conglomerates industry and Industrials sector, Union Properties PJSC's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Union Properties PJSC'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 800.176 + 16.473 + 18.297 + 18.371 = د.إ853.3 Mil.
Cash Flow from Operations was -29.391 + 295.006 + -138.183 + -241.356 = د.إ-113.9 Mil.
Revenue was 143.701 + 138.114 + 127.671 + 123.301 = د.إ532.8 Mil.
Gross Profit was 37.569 + 34.14 + 18.506 + 22.694 = د.إ112.9 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(3898.197 + 4779.752 + 4655.5 + 4555.832 + 4061.664) / 5 = د.إ4390.189 Mil.
Total Assets at the begining of this year (Sep23) was د.إ3,898.2 Mil.
Long-Term Debt & Capital Lease Obligation was د.إ222.5 Mil.
Total Current Assets was د.إ1,133.1 Mil.
Total Current Liabilities was د.إ806.9 Mil.
Net Income was 41.35 + 12.291 + 5.419 + 19.731 = د.إ78.8 Mil.

Revenue was 113.496 + 122.138 + 118.705 + 123.465 = د.إ477.8 Mil.
Gross Profit was 21.813 + 26.67 + 18.964 + 31.277 = د.إ98.7 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(4100.894 + 4078.466 + 3966.99 + 3949.644 + 3898.197) / 5 = د.إ3998.8382 Mil.
Total Assets at the begining of last year (Sep22) was د.إ4,100.9 Mil.
Long-Term Debt & Capital Lease Obligation was د.إ330.5 Mil.
Total Current Assets was د.إ443.8 Mil.
Total Current Liabilities was د.إ1,530.0 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.

Union Properties PJSC's current Net Income (TTM) was 853.3. ==> 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.

Union Properties PJSC's current Cash Flow from Operations (TTM) was -113.9. ==> 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.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Sep23)
=853.317/3898.197
=0.21890043

ROA (Last Year)=Net Income/Total Assets (Sep22)
=78.791/4100.894
=0.01921313

Union Properties PJSC's return on assets of this year was 0.21890043. Union Properties PJSC's return on assets of last year was 0.01921313. ==> 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.

Union Properties PJSC's current Net Income (TTM) was 853.3. Union Properties PJSC's current Cash Flow from Operations (TTM) was -113.9. ==> -113.9 <= 853.3 ==> 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
=222.507/4390.189
=0.05068278

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=330.469/3998.8382
=0.08264125

Union Properties PJSC's gearing of this year was 0.05068278. Union Properties PJSC's gearing of last year was 0.08264125. ==> 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
=1133.092/806.853
=1.40433511

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=443.827/1529.988
=0.29008528

Union Properties PJSC's current ratio of this year was 1.40433511. Union Properties PJSC's current ratio of last year was 0.29008528. ==> 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.

Union Properties PJSC's number of shares in issue this year was 4289.54. Union Properties PJSC's number of shares in issue last year was 4289.54. ==> 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
=112.909/532.787
=0.21192146

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=98.724/477.804
=0.20662029

Union Properties PJSC's gross margin of this year was 0.21192146. Union Properties PJSC's gross margin of last year was 0.20662029. ==> This year's gross 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 (Sep23)
=532.787/3898.197
=0.13667524

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=477.804/4100.894
=0.11651216

Union Properties PJSC's asset turnover of this year was 0.13667524. Union Properties PJSC's asset turnover of last year was 0.11651216. ==> 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+0+1+0+1+1+1+1+1
=7

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

Union Properties PJSC has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Union Properties PJSC  (DFM:UPP) 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.


Union Properties PJSC Piotroski F-Score Related Terms

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Union Properties PJSC Business Description

Traded in Other Exchanges
N/A
Address
Union Business Park 1, P.O. Box 24649, Green Community East, Dubai Investment Park 1, Dubai, ARE
Union Properties PJSC is a property development company in the United Arab Emirates. The company has a wide range of projects in its portfolio, including residential, industrial, and leisure development projects. The firm operates out of three segments: real estate, contracting, and goods and services. Property rentals and sales compose the real estate segment. The firm's contracting segment involves mechanical, electrical, and plumbing work, as well as interior architecture construction. In goods and services, the company offers facility management and maintenance services, motor racing services, and the sale of goods. The majority of the company's revenue is generated from the goods and services segment.

Union Properties PJSC Headlines

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