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Ozderici Gayrimenkul Yatirim Ortakligi AS (IST:OZGYO) Piotroski F-Score : 6 (As of Jul. 18, 2024)


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What is Ozderici Gayrimenkul Yatirim Ortakligi AS 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

Ozderici Gayrimenkul Yatirim Ortakligi AS 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 Ozderici Gayrimenkul Yatirim Ortakligi AS's Piotroski F-Score or its related term are showing as below:

IST:OZGYO' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 8
Current: 6

During the past 13 years, the highest Piotroski F-Score of Ozderici Gayrimenkul Yatirim Ortakligi AS was 8. The lowest was 2. And the median was 5.


Ozderici Gayrimenkul Yatirim Ortakligi AS Piotroski F-Score Historical Data

The historical data trend for Ozderici Gayrimenkul Yatirim Ortakligi AS'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.

Ozderici Gayrimenkul Yatirim Ortakligi AS Piotroski F-Score Chart

Ozderici Gayrimenkul Yatirim Ortakligi AS 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 8.00 6.00 6.00 5.00

Ozderici Gayrimenkul Yatirim Ortakligi AS Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 6.00 4.00 5.00 5.00 6.00

Competitive Comparison of Ozderici Gayrimenkul Yatirim Ortakligi AS's Piotroski F-Score

For the REIT - Diversified subindustry, Ozderici Gayrimenkul Yatirim Ortakligi AS'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.


Ozderici Gayrimenkul Yatirim Ortakligi AS's Piotroski F-Score Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Ozderici Gayrimenkul Yatirim Ortakligi AS's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Ozderici Gayrimenkul Yatirim Ortakligi AS'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 85.285 + 24.163 + -126.096 + -6.945 = ₺-23.59 Mil.
Cash Flow from Operations was 84.123 + 28.342 + 42.34 + 46.965 = ₺201.77 Mil.
Revenue was 11.116 + 19.075 + 38.675 + 11.456 = ₺80.32 Mil.
Gross Profit was 7.906 + 11 + 13.71 + 11.456 = ₺44.07 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(2305.224 + 2378.298 + 2399.827 + 3724.371 + 4275.621) / 5 = ₺3016.6682 Mil.
Total Assets at the begining of this year (Mar23) was ₺2,305.22 Mil.
Long-Term Debt & Capital Lease Obligation was ₺0.00 Mil.
Total Current Assets was ₺16.51 Mil.
Total Current Liabilities was ₺40.86 Mil.
Net Income was 30.279 + 20.663 + 936.5 + -23.456 = ₺963.99 Mil.

Revenue was 66.833 + 4.644 + 146.598 + 27.994 = ₺246.07 Mil.
Gross Profit was 34.65 + 4.644 + 44.525 + 16.497 = ₺100.32 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(1060.343 + 1091.146 + 1110.583 + 3798.48 + 2305.224) / 5 = ₺1873.1552 Mil.
Total Assets at the begining of last year (Mar22) was ₺1,060.34 Mil.
Long-Term Debt & Capital Lease Obligation was ₺0.68 Mil.
Total Current Assets was ₺14.76 Mil.
Total Current Liabilities was ₺40.11 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.

Ozderici Gayrimenkul Yatirim Ortakligi AS's current Net Income (TTM) was -23.59. ==> 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.

Ozderici Gayrimenkul Yatirim Ortakligi AS's current Cash Flow from Operations (TTM) was 201.77. ==> 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)
=-23.593/2305.224
=-0.01023458

ROA (Last Year)=Net Income/Total Assets (Mar22)
=963.986/1060.343
=0.90912658

Ozderici Gayrimenkul Yatirim Ortakligi AS's return on assets of this year was -0.01023458. Ozderici Gayrimenkul Yatirim Ortakligi AS's return on assets of last year was 0.90912658. ==> 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.

Ozderici Gayrimenkul Yatirim Ortakligi AS's current Net Income (TTM) was -23.59. Ozderici Gayrimenkul Yatirim Ortakligi AS's current Cash Flow from Operations (TTM) was 201.77. ==> 201.77 > -23.59 ==> 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
=0/3016.6682
=0

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=0.677/1873.1552
=0.00036142

Ozderici Gayrimenkul Yatirim Ortakligi AS's gearing of this year was 0. Ozderici Gayrimenkul Yatirim Ortakligi AS's gearing of last year was 0.00036142. ==> 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: Mar24)=Total Current Assets/Total Current Liabilities
=16.505/40.86
=0.40394028

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=14.758/40.106
=0.36797487

Ozderici Gayrimenkul Yatirim Ortakligi AS's current ratio of this year was 0.40394028. Ozderici Gayrimenkul Yatirim Ortakligi AS's current ratio of last year was 0.36797487. ==> 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.

Ozderici Gayrimenkul Yatirim Ortakligi AS's number of shares in issue this year was 250. Ozderici Gayrimenkul Yatirim Ortakligi AS's number of shares in issue last year was 250. ==> 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
=44.072/80.322
=0.54869152

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=100.316/246.069
=0.40767427

Ozderici Gayrimenkul Yatirim Ortakligi AS's gross margin of this year was 0.54869152. Ozderici Gayrimenkul Yatirim Ortakligi AS's gross margin of last year was 0.40767427. ==> 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)
=80.322/2305.224
=0.03484347

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=246.069/1060.343
=0.23206547

Ozderici Gayrimenkul Yatirim Ortakligi AS's asset turnover of this year was 0.03484347. Ozderici Gayrimenkul Yatirim Ortakligi AS's asset turnover of last year was 0.23206547. ==> 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+1+0
=6

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

Ozderici Gayrimenkul Yatirim Ortakligi AS has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Ozderici Gayrimenkul Yatirim Ortakligi AS  (IST:OZGYO) 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.


Ozderici Gayrimenkul Yatirim Ortakligi AS Piotroski F-Score Related Terms

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Ozderici Gayrimenkul Yatirim Ortakligi AS (IST:OZGYO) Business Description

Traded in Other Exchanges
N/A
Address
Buyukdere Street Building Loan Plaza C Block, Floor 9, Levent, Istanbul, TUR, 34330
Ozderici Gayrimenkul Yatirim Ortakligi AS is a Turkey-based real estate investment trust involved in the real estate development projects. The projects of the company include Nuvo Dragos, Zeytinburnu Akevler Siteleri, Akatlar Ozderici Bloklari, Yapi Kredi Plaza'da Ofis and Bayrampasa 5 Adet Is Merkezi.

Ozderici Gayrimenkul Yatirim Ortakligi AS (IST:OZGYO) Headlines

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