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FHNGY (Foschini Group) Piotroski F-Score : 6 (As of Dec. 15, 2024)


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What is Foschini Group 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

Foschini Group has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Foschini Group's Piotroski F-Score or its related term are showing as below:

FHNGY' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 5   Max: 6
Current: 6

During the past 13 years, the highest Piotroski F-Score of Foschini Group was 6. The lowest was 4. And the median was 5.


Foschini Group Piotroski F-Score Historical Data

The historical data trend for Foschini Group'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.

Foschini Group Piotroski F-Score Chart

Foschini Group Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 4.00 6.00 4.00 6.00

Foschini Group Semi-Annual Data
Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 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 - 4.00 - 6.00 -

Competitive Comparison of Foschini Group's Piotroski F-Score

For the Specialty Retail subindustry, Foschini Group'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.


Foschini Group's Piotroski F-Score Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Foschini Group's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Foschini Group'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 (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was $161 Mil.
Cash Flow from Operations was $462 Mil.
Revenue was $2,983 Mil.
Gross Profit was $1,430 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was (2908.3 + 2873.662) / 2 = $2890.981 Mil.
Total Assets at the begining of this year (Mar23) was $2,908 Mil.
Long-Term Debt & Capital Lease Obligation was $756 Mil.
Total Current Assets was $1,343 Mil.
Total Current Liabilities was $767 Mil.
Net Income was $166 Mil.

Revenue was $2,836 Mil.
Gross Profit was $1,359 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was (2895.273 + 2908.3) / 2 = $2901.7865 Mil.
Total Assets at the begining of last year (Mar22) was $2,895 Mil.
Long-Term Debt & Capital Lease Obligation was $726 Mil.
Total Current Assets was $1,459 Mil.
Total Current Liabilities was $923 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.

Foschini Group's current Net Income (TTM) was 161. ==> 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.

Foschini Group's current Cash Flow from Operations (TTM) was 462. ==> 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 (Mar23)
=160.825/2908.3
=0.05529863

ROA (Last Year)=Net Income/Total Assets (Mar22)
=165.711/2895.273
=0.05723502

Foschini Group's return on assets of this year was 0.05529863. Foschini Group's return on assets of last year was 0.05723502. ==> 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.

Foschini Group's current Net Income (TTM) was 161. Foschini Group's current Cash Flow from Operations (TTM) was 462. ==> 462 > 161 ==> 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: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=756.369/2890.981
=0.26163057

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=726.006/2901.7865
=0.25019277

Foschini Group's gearing of this year was 0.26163057. Foschini Group's gearing of last year was 0.25019277. ==> 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

Current Ratio (This Year: Mar24)=Total Current Assets/Total Current Liabilities
=1343.419/766.54
=1.75257521

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=1458.698/922.55
=1.58115874

Foschini Group's current ratio of this year was 1.75257521. Foschini Group's current ratio of last year was 1.58115874. ==> 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.

Foschini Group's number of shares in issue this year was 326.392. Foschini Group's number of shares in issue last year was 325.297. ==> 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
=1430.103/2982.879
=0.47943715

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1359.21/2835.68
=0.47932418

Foschini Group's gross margin of this year was 0.47943715. Foschini Group's gross margin of last year was 0.47932418. ==> 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 (Mar23)
=2982.879/2908.3
=1.0256435

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=2835.68/2895.273
=0.97941714

Foschini Group's asset turnover of this year was 1.0256435. Foschini Group's asset turnover of last year was 0.97941714. ==> 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+0+1+0+1+0+1+1
=6

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

Foschini Group has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Foschini Group  (OTCPK:FHNGY) 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.


Foschini Group Piotroski F-Score Related Terms

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Foschini Group Business Description

Traded in Other Exchanges
Address
340 Voortrekker Road, Stanley Lewis Centre, Parow East, Cape Town, WC, ZAF, 7500
Foschini Group Ltd is a South African fashion retailer. The company mainly offers ladieswear, footwear, accessories, cosmetics and fragrances, kidswear, homewares, sportswear, cellular, and jewelry in South Africa. The Foschini Group is a diverse group with a portfolio of thirty-four fashion and lifestyle retail brands portfolio includes multiple brands such as Home, American Swiss, Sterns, Charles and Keith, Colette, DonnaClaire, Phase Eight, Duesouth, Exact, Fabiani, The Fix, Foschini, G-star Raw, hi, Markham, Mat and May, and Whistles. The Group operates through TFG Africa retail division, TFG London, TFG Australia, and TFG Africa Credit segments. It earns the majority of its revenue from the TFG Africa retail segment.

Foschini Group Headlines