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JMI Syringes & Medical Devices (DHA:JMISMDL) Piotroski F-Score : 5 (As of Apr. 26, 2024)


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What is JMI Syringes & Medical Devices 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

JMI Syringes & Medical Devices 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 JMI Syringes & Medical Devices's Piotroski F-Score or its related term are showing as below:

DHA:JMISMDL' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 8
Current: 5

During the past 13 years, the highest Piotroski F-Score of JMI Syringes & Medical Devices was 8. The lowest was 3. And the median was 5.


JMI Syringes & Medical Devices Piotroski F-Score Historical Data

The historical data trend for JMI Syringes & Medical Devices'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.

JMI Syringes & Medical Devices Piotroski F-Score Chart

JMI Syringes & Medical Devices Annual Data
Trend Dec14 Dec15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 5.00 6.00 6.00 4.00

JMI Syringes & Medical Devices Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 3.00 5.00 4.00 5.00 5.00

Competitive Comparison of JMI Syringes & Medical Devices's Piotroski F-Score

For the Medical Instruments & Supplies subindustry, JMI Syringes & Medical Devices'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.


JMI Syringes & Medical Devices's Piotroski F-Score Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, JMI Syringes & Medical Devices's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where JMI Syringes & Medical Devices'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 (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was 3.265 + -182.496 + 2.391 + 1.98 = BDT-175 Mil.
Cash Flow from Operations was 52.983 + 98.404 + 36.564 + 36.715 = BDT225 Mil.
Revenue was 443.703 + 416.99 + 432.309 + 452.983 = BDT1,746 Mil.
Gross Profit was 60.87 + 44.96 + 45.393 + 50.643 = BDT202 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(3472.357 + 3695.095 + 2998.679 + 3014 + 2928.861) / 5 = BDT3221.7984 Mil.
Total Assets at the begining of this year (Dec22) was BDT3,472 Mil.
Long-Term Debt & Capital Lease Obligation was BDT1 Mil.
Total Current Assets was BDT1,509 Mil.
Total Current Liabilities was BDT257 Mil.
Net Income was 30.859 + 5.648 + 19.501 + 9.766 = BDT66 Mil.

Revenue was 635.961 + 849.728 + 407.141 + 487.332 = BDT2,380 Mil.
Gross Profit was 122.529 + 116.077 + 60.669 + 55.626 = BDT355 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(3367.456 + 3642.749 + 3419.779 + 3453.397 + 3472.357) / 5 = BDT3471.1476 Mil.
Total Assets at the begining of last year (Dec21) was BDT3,367 Mil.
Long-Term Debt & Capital Lease Obligation was BDT3 Mil.
Total Current Assets was BDT1,988 Mil.
Total Current Liabilities was BDT597 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.

JMI Syringes & Medical Devices's current Net Income (TTM) was -175. ==> 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.

JMI Syringes & Medical Devices's current Cash Flow from Operations (TTM) was 225. ==> 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 (Dec22)
=-174.86/3472.357
=-0.05035773

ROA (Last Year)=Net Income/Total Assets (Dec21)
=65.774/3367.456
=0.01953225

JMI Syringes & Medical Devices's return on assets of this year was -0.05035773. JMI Syringes & Medical Devices's return on assets of last year was 0.01953225. ==> 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.

JMI Syringes & Medical Devices's current Net Income (TTM) was -175. JMI Syringes & Medical Devices's current Cash Flow from Operations (TTM) was 225. ==> 225 > -175 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=1.441/3221.7984
=0.00044727

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=2.68/3471.1476
=0.00077208

JMI Syringes & Medical Devices's gearing of this year was 0.00044727. JMI Syringes & Medical Devices's gearing of last year was 0.00077208. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=1509.419/257.432
=5.86336974

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=1988.128/597.347
=3.32826314

JMI Syringes & Medical Devices's current ratio of this year was 5.86336974. JMI Syringes & Medical Devices's current ratio of last year was 3.32826314. ==> 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.

JMI Syringes & Medical Devices's number of shares in issue this year was 28.284. JMI Syringes & Medical Devices's number of shares in issue last year was 30.52. ==> 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
=201.866/1745.985
=0.11561726

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=354.901/2380.162
=0.14910792

JMI Syringes & Medical Devices's gross margin of this year was 0.11561726. JMI Syringes & Medical Devices's gross margin of last year was 0.14910792. ==> 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 (Dec22)
=1745.985/3472.357
=0.50282416

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=2380.162/3367.456
=0.7068131

JMI Syringes & Medical Devices's asset turnover of this year was 0.50282416. JMI Syringes & Medical Devices's asset turnover of last year was 0.7068131. ==> 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+1+1+1+0+0
=5

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

JMI Syringes & Medical Devices has an F-score of 5 indicating the company's financial situation is typical for a stable company.

JMI Syringes & Medical Devices  (DHA:JMISMDL) 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.


JMI Syringes & Medical Devices Piotroski F-Score Related Terms

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JMI Syringes & Medical Devices (DHA:JMISMDL) Business Description

Traded in Other Exchanges
N/A
Address
117, Kazi Nazrul Islam Avenue, Unique Heights, Level-11, Ramna, Dhaka, BGD, 1217
JMI Syringes & Medical Devices Ltd is a Bangladesh-based syringe and medical device manufacturing company. It manufactures and markets disposable syringe, auto-disable syringe, needle, infusion set, scalp vein set, urine drainage bag, insulin syringe, First AID bandage, riles tube, IV Cannula, feeding tube, and Blood Lancets, and other products.

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