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PT MAP Aktif Adiperkasa Tbk (ISX:MAPA) Piotroski F-Score : 3 (As of May. 22, 2024)


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What is PT MAP Aktif Adiperkasa Tbk Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 3 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

PT MAP Aktif Adiperkasa Tbk has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for PT MAP Aktif Adiperkasa Tbk's Piotroski F-Score or its related term are showing as below:

ISX:MAPA' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 7   Max: 8
Current: 3

During the past 8 years, the highest Piotroski F-Score of PT MAP Aktif Adiperkasa Tbk was 8. The lowest was 3. And the median was 7.


PT MAP Aktif Adiperkasa Tbk Piotroski F-Score Historical Data

The historical data trend for PT MAP Aktif Adiperkasa 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 MAP Aktif Adiperkasa Tbk Piotroski F-Score Chart

PT MAP Aktif Adiperkasa Tbk Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial 7.00 4.00 8.00 8.00 4.00

PT MAP Aktif Adiperkasa Tbk 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 7.00 6.00 6.00 4.00 3.00

Competitive Comparison of PT MAP Aktif Adiperkasa Tbk's Piotroski F-Score

For the Specialty Retail subindustry, PT MAP Aktif Adiperkasa 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 MAP Aktif Adiperkasa Tbk's Piotroski F-Score Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, PT MAP Aktif Adiperkasa Tbk's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where PT MAP Aktif Adiperkasa Tbk'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 403635 + 375342 + 349382 + 281409 = Rp1,409,768 Mil.
Cash Flow from Operations was 389222 + 211421 + 678350 + 4887 = Rp1,283,880 Mil.
Revenue was 3246080 + 3613943 + 3974392 + 3693122 = Rp14,527,537 Mil.
Gross Profit was 1597200 + 1746447 + 1913662 + 1768094 = Rp7,025,403 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(7914777 + 8325723 + 9242910 + 10803580 + 11496973) / 5 = Rp9556792.6 Mil.
Total Assets at the begining of this year (Mar23) was Rp7,914,777 Mil.
Long-Term Debt & Capital Lease Obligation was Rp1,018,194 Mil.
Total Current Assets was Rp6,847,065 Mil.
Total Current Liabilities was Rp3,996,618 Mil.
Net Income was 304575 + 332152 + 369961 + 260114 = Rp1,266,802 Mil.

Revenue was 2375486 + 2531036 + 2978170 + 2724180 = Rp10,608,872 Mil.
Gross Profit was 1153368 + 1264709 + 1398341 + 1339956 = Rp5,156,374 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(5405730 + 5822159 + 6364693 + 7426249 + 7914777) / 5 = Rp6586721.6 Mil.
Total Assets at the begining of last year (Mar22) was Rp5,405,730 Mil.
Long-Term Debt & Capital Lease Obligation was Rp650,270 Mil.
Total Current Assets was Rp5,078,223 Mil.
Total Current Liabilities was Rp2,241,338 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 MAP Aktif Adiperkasa Tbk's current Net Income (TTM) was 1,409,768. ==> 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 MAP Aktif Adiperkasa Tbk's current Cash Flow from Operations (TTM) was 1,283,880. ==> 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)
=1409768/7914777
=0.17811847

ROA (Last Year)=Net Income/Total Assets (Mar22)
=1266802/5405730
=0.2343443

PT MAP Aktif Adiperkasa Tbk's return on assets of this year was 0.17811847. PT MAP Aktif Adiperkasa Tbk's return on assets of last year was 0.2343443. ==> 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.

PT MAP Aktif Adiperkasa Tbk's current Net Income (TTM) was 1,409,768. PT MAP Aktif Adiperkasa Tbk's current Cash Flow from Operations (TTM) was 1,283,880. ==> 1,283,880 <= 1,409,768 ==> 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: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=1018194/9556792.6
=0.10654139

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=650270/6586721.6
=0.09872438

PT MAP Aktif Adiperkasa Tbk's gearing of this year was 0.10654139. PT MAP Aktif Adiperkasa Tbk's gearing of last year was 0.09872438. ==> 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
=6847065/3996618
=1.71321477

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=5078223/2241338
=2.26571048

PT MAP Aktif Adiperkasa Tbk's current ratio of this year was 1.71321477. PT MAP Aktif Adiperkasa Tbk's current ratio of last year was 2.26571048. ==> 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.

PT MAP Aktif Adiperkasa Tbk's number of shares in issue this year was 28504. PT MAP Aktif Adiperkasa Tbk's number of shares in issue last year was 28504. ==> 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
=7025403/14527537
=0.48359216

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=5156374/10608872
=0.48604357

PT MAP Aktif Adiperkasa Tbk's gross margin of this year was 0.48359216. PT MAP Aktif Adiperkasa Tbk's gross margin of last year was 0.48604357. ==> 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 (Mar23)
=14527537/7914777
=1.83549543

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=10608872/5405730
=1.96252347

PT MAP Aktif Adiperkasa Tbk's asset turnover of this year was 1.83549543. PT MAP Aktif Adiperkasa Tbk's asset turnover of last year was 1.96252347. ==> 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+1+0+0
=3

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

PT MAP Aktif Adiperkasa Tbk has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

PT MAP Aktif Adiperkasa Tbk  (ISX:MAPA) 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 MAP Aktif Adiperkasa Tbk Piotroski F-Score Related Terms

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PT MAP Aktif Adiperkasa Tbk (ISX:MAPA) Business Description

Traded in Other Exchanges
N/A
Address
Jalan Jend. Sudirman kav. 86, 26th Floor, Sahid Sudirman Center - Sahid City, Central Jakarta, Jakarta, IDN, 10220
PT MAP Aktif Adiperkasa Tbk is a sports goods retailer. The company operates sports and kids shops including Planet Sports, Sports Station, Kidz Station, Golf House, Planet Sports, Planet Kids, and Planet Sports for women. Its business segments consist of the Retail segment and Non-Retail segment. The company generates maximum revenue from the Retail sales segment.

PT MAP Aktif Adiperkasa Tbk (ISX:MAPA) Headlines

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