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PT Essa Industries Indonesia Tbk (ISX:ESSA) Piotroski F-Score : 9 (As of Jul. 25, 2025)


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What is PT Essa Industries Indonesia Tbk Piotroski F-Score?

Good Sign:

Piotroski F-Score is 9, 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

PT Essa Industries Indonesia Tbk has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for PT Essa Industries Indonesia Tbk's Piotroski F-Score or its related term are showing as below:

ISX:ESSA' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 9
Current: 9

During the past 13 years, the highest Piotroski F-Score of PT Essa Industries Indonesia Tbk was 9. The lowest was 2. And the median was 6.


PT Essa Industries Indonesia Tbk Piotroski F-Score Historical Data

The historical data trend for PT Essa Industries Indonesia Tbk'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.

PT Essa Industries Indonesia Tbk Piotroski F-Score Chart

PT Essa Industries Indonesia Tbk Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.00 7.00 9.00 5.00 8.00

PT Essa Industries Indonesia Tbk Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
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 5.00 6.00 8.00 8.00 9.00

Competitive Comparison of PT Essa Industries Indonesia Tbk's Piotroski F-Score

For the Chemicals subindustry, PT Essa Industries Indonesia Tbk'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.


PT Essa Industries Indonesia Tbk's Piotroski F-Score Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, PT Essa Industries Indonesia Tbk's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where PT Essa Industries Indonesia Tbk's Piotroski F-Score falls into.


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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 (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was 169453.895 + 199102.008 + 186272.057 + 133857.697 = Rp688,686 Mil.
Cash Flow from Operations was 549615.056 + 639151.971 + 440439.766 + 302151.473 = Rp1,931,358 Mil.
Revenue was 1269941.034 + 1204678.398 + 1143113.258 + 1146584.718 = Rp4,764,317 Mil.
Gross Profit was 408370.827 + 448428.36 + 427739.399 + 366642.952 = Rp1,651,182 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(10730934.682 + 10988334.128 + 10674813.865 + 11123661.811 + 10987974.546) / 5 = Rp10901143.8064 Mil.
Total Assets at the begining of this year (Mar24) was Rp10,730,935 Mil.
Long-Term Debt & Capital Lease Obligation was Rp107,162 Mil.
Total Current Assets was Rp3,320,405 Mil.
Total Current Liabilities was Rp1,038,550 Mil.
Net Income was 12915.223 + 88915.717 + 385522.429 + 160369.017 = Rp647,722 Mil.

Revenue was 1200831.716 + 989961.079 + 1742810.243 + 1159396.845 = Rp5,093,000 Mil.
Gross Profit was 187943.4 + 267038.979 + 850327.682 + 426074.925 = Rp1,731,385 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(13321154.141 + 11528495.705 + 11681380.997 + 10789942.407 + 10730934.682) / 5 = Rp11610381.5864 Mil.
Total Assets at the begining of last year (Mar23) was Rp13,321,154 Mil.
Long-Term Debt & Capital Lease Obligation was Rp711,099 Mil.
Total Current Assets was Rp2,781,996 Mil.
Total Current Liabilities was Rp1,672,260 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.

PT Essa Industries Indonesia Tbk's current Net Income (TTM) was 688,686. ==> 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.

PT Essa Industries Indonesia Tbk's current Cash Flow from Operations (TTM) was 1,931,358. ==> 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 (Mar24)
=688685.657/10730934.682
=0.0641776

ROA (Last Year)=Net Income/Total Assets (Mar23)
=647722.386/13321154.141
=0.04862359

PT Essa Industries Indonesia Tbk's return on assets of this year was 0.0641776. PT Essa Industries Indonesia Tbk's return on assets of last year was 0.04862359. ==> This year is higher. ==> Score 1.

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.

PT Essa Industries Indonesia Tbk's current Net Income (TTM) was 688,686. PT Essa Industries Indonesia Tbk's current Cash Flow from Operations (TTM) was 1,931,358. ==> 1,931,358 > 688,686 ==> 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: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=107161.914/10901143.8064
=0.00983034

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=711098.617/11610381.5864
=0.06124679

PT Essa Industries Indonesia Tbk's gearing of this year was 0.00983034. PT Essa Industries Indonesia Tbk's gearing of last year was 0.06124679. ==> 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: Mar25)=Total Current Assets/Total Current Liabilities
=3320405.394/1038549.963
=3.19715518

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=2781996.454/1672260.448
=1.66361434

PT Essa Industries Indonesia Tbk's current ratio of this year was 3.19715518. PT Essa Industries Indonesia Tbk's current ratio of last year was 1.66361434. ==> 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.

PT Essa Industries Indonesia Tbk's number of shares in issue this year was 17226.976. PT Essa Industries Indonesia Tbk's number of shares in issue last year was 17226.976. ==> 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
=1651181.538/4764317.408
=0.34657253

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1731384.986/5092999.883
=0.33995386

PT Essa Industries Indonesia Tbk's gross margin of this year was 0.34657253. PT Essa Industries Indonesia Tbk's gross margin of last year was 0.33995386. ==> 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 (Mar24)
=4764317.408/10730934.682
=0.44397972

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=5092999.883/13321154.141
=0.38232422

PT Essa Industries Indonesia Tbk's asset turnover of this year was 0.44397972. PT Essa Industries Indonesia Tbk's asset turnover of last year was 0.38232422. ==> 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+1+1+1+1+1+1+1
=9

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

PT Essa Industries Indonesia Tbk has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

PT Essa Industries Indonesia Tbk  (ISX:ESSA) 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.


PT Essa Industries Indonesia Tbk Piotroski F-Score Related Terms

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PT Essa Industries Indonesia Tbk Business Description

Traded in Other Exchanges
N/A
Address
Jalan Prof. Dr. Satrio, Kav. 3-5, DBS Bank Tower, 18th Floor, Ciputra World 1 Jakarta, Jakarta, IDN, 12940
PT Essa Industries Indonesia Tbk owns and operates privately owned domestic liquefied petroleum gas (LPG) refinery in Indonesia. Its main business is the refining and processing of natural gas to produce LPG (mixture of Propane and Butane), condensate, methanol, carbonation and gasification of coal, or other hydrocarbon materials. The principal products of the company include LPG, Condensate and Ammonia. It is also engaged in other activities such as crude oil mining, Wholesale trade in gas, liquid and solid fuels and similar products, Gas distribution and supporting service activities related to oil and gas mining carried out on a fee or contract basis. The company's segments are; LPG refinery, Ammonia which generates key revenue, and others.