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Kiler Holding (IST:KLRHO) Piotroski F-Score : 2 (As of Dec. 13, 2024)


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What is Kiler Holding Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 2 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

Kiler Holding has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

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

IST:KLRHO' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 7
Current: 2

During the past 5 years, the highest Piotroski F-Score of Kiler Holding was 7. The lowest was 2. And the median was 6.


Kiler Holding Piotroski F-Score Historical Data

The historical data trend for Kiler Holding'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.

Kiler Holding Piotroski F-Score Chart

Kiler Holding Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
N/A N/A 7.00 6.00 2.00

Kiler Holding Quarterly Data
Dec19 Dec20 Sep21 Dec21 Sep22 Dec22 Dec23
Piotroski F-Score Get a 7-Day Free Trial - 7.00 - 6.00 2.00

Competitive Comparison of Kiler Holding's Piotroski F-Score

For the Conglomerates subindustry, Kiler Holding'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.


Kiler Holding's Piotroski F-Score Distribution in the Conglomerates Industry

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

* The bar in red indicates where Kiler Holding'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 ₺4,229 Mil.
Cash Flow from Operations was ₺1,012 Mil.
Revenue was ₺3,097 Mil.
Gross Profit was ₺671 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (24217.932 + 32463.588) / 2 = ₺28340.76 Mil.
Total Assets at the begining of this year (Dec22) was ₺24,218 Mil.
Long-Term Debt & Capital Lease Obligation was ₺927 Mil.
Total Current Assets was ₺15,054 Mil.
Total Current Liabilities was ₺9,071 Mil.
Net Income was ₺2,361 Mil.

Revenue was ₺4,458 Mil.
Gross Profit was ₺1,959 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (4988.009 + 24217.932) / 2 = ₺14602.9705 Mil.
Total Assets at the begining of last year (Dec21) was ₺4,988 Mil.
Long-Term Debt & Capital Lease Obligation was ₺459 Mil.
Total Current Assets was ₺14,122 Mil.
Total Current Liabilities was ₺6,547 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.

Kiler Holding's current Net Income (TTM) was 4,229. ==> 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.

Kiler Holding's current Cash Flow from Operations (TTM) was 1,012. ==> 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)
=4229.444/24217.932
=0.17464101

ROA (Last Year)=Net Income/Total Assets (Dec21)
=2360.8/4988.009
=0.47329506

Kiler Holding's return on assets of this year was 0.17464101. Kiler Holding's return on assets of last year was 0.47329506. ==> 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.

Kiler Holding's current Net Income (TTM) was 4,229. Kiler Holding's current Cash Flow from Operations (TTM) was 1,012. ==> 1,012 <= 4,229 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=926.81/28340.76
=0.03270237

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=459.307/14602.9705
=0.03145298

Kiler Holding's gearing of this year was 0.03270237. Kiler Holding's gearing of last year was 0.03145298. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=15054.245/9071.322
=1.65954257

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=14121.722/6546.529
=2.15713121

Kiler Holding's current ratio of this year was 1.65954257. Kiler Holding's current ratio of last year was 2.15713121. ==> 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.

Kiler Holding's number of shares in issue this year was 1185.714. Kiler Holding's number of shares in issue last year was 650. ==> 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
=671.153/3097.298
=0.21668984

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1958.83/4457.842
=0.43941216

Kiler Holding's gross margin of this year was 0.21668984. Kiler Holding's gross margin of last year was 0.43941216. ==> 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)
=3097.298/24217.932
=0.12789275

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=4457.842/4988.009
=0.8937117

Kiler Holding's asset turnover of this year was 0.12789275. Kiler Holding's asset turnover of last year was 0.8937117. ==> 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+1+0+0+0+0+0+0+0
=2

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

Kiler Holding has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

Kiler Holding  (IST:KLRHO) 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.


Kiler Holding Piotroski F-Score Related Terms

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Kiler Holding Business Description

Comparable Companies
Traded in Other Exchanges
N/A
Address
Eski Buyukdere Cad, Emniyet Evleri Mah. No:1/1 Kat:7, Istanbul, TUR, 34415
Kiler Holding operates as an investment holding company. The firm, through its subsidiaries, focuses on investments in real estate, sugar production, energy resources, retail, healthcare, tourism, sugar production, and transportation industries.

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