Piotroski F-Score is 8, 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
Indigo Star Holdings has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Indigo Star Holdings's Piotroski F-Score or its related term are showing as below:
HKSE:08373'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 4 Max: 8
Current: 8
During the past 9 years, the highest Piotroski F-Score of Indigo Star Holdings was 8. The lowest was 3. And the median was 4.
Indigo Star Holdings Piotroski F-Score Historical Data
The historical data trend for Indigo Star Holdings'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.
Competitive Comparison of Indigo Star Holdings's Piotroski F-Score
For the Engineering & Construction subindustry, Indigo Star Holdings'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.
Indigo Star Holdings's Piotroski F-Score Distribution in the Construction Industry
For the Construction industry and Industrials sector, Indigo Star Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Indigo Star Holdings'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.
Indigo Star Holdings's current Net Income (TTM) was 5.9.
==> 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.
Indigo Star Holdings's return on assets of this year was 0.03532122. Indigo Star Holdings's return on assets of last year was 0.01088405.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Indigo Star Holdings's gearing of this year was 0.02902898. Indigo Star Holdings's gearing of last year was 0.03441139.
==> 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
Indigo Star Holdings's current ratio of this year was 1.43454745. Indigo Star Holdings's current ratio of last year was 1.45976998.
==> 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.
Indigo Star Holdings's number of shares in issue this year was 40. Indigo Star Holdings's number of shares in issue last year was 40.
==> 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.
Indigo Star Holdings's gross margin of this year was 0.25777251. Indigo Star Holdings's gross margin of last year was 0.24784961.
==> 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
Indigo Star Holdings's asset turnover of this year was 1.56690648. Indigo Star Holdings's asset turnover of last year was 1.21645809.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Que. 1
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1
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1
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1
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1
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1
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8
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Indigo Star Holdings has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
Indigo Star Holdings (HKSE:08373) 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.
Indigo Star Holdings Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Indigo Star Holdings's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Indigo Star Holdings Ltd is a subcontractor specializing in providing reinforced concrete works. The company offers structural reinforced and concrete works in general building and civil engineering works. It offers steel reinforcement works, formwork erection, and concrete works. It provides such services either individually or as a total package comprising all three, depending on the requirements of the customers. The group is involved in different types of general building and civil engineering projects, which include residential housing, offices, commercial, industrial, and institutional developments, special purpose constructions, MRT stations, and infrastructure. It has two segments Construction contract and Sales of tiles. All its revenue is derived from Singapore.
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