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PT Wismilak Inti Makmur Tbk (ISX:WIIM) 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.
PT Wismilak Inti Makmur Tbk Piotroski F-Score Related Terms
PT Wismilak Inti Makmur Tbk Piotroski F-Score Historical Data
* 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.
PT Wismilak Inti Makmur Tbk Piotroski F-Score Chart
ISX:WIIM vs PM, MO, TPB: Piotroski F-Score Comparison
For the Tobacco subindustry, PT Wismilak Inti Makmur 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 Wismilak Inti Makmur Tbk Piotroski F-Score vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, PT Wismilak Inti Makmur Tbk's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where PT Wismilak Inti Makmur Tbk's Piotroski F-Score falls into.
* 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 (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was 136685.508 + 134242.657 + 148083.247 + 155232.113 = Rp574,244 Mil. Cash Flow from Operations was 80749.588 + 59263.562 + 192394.126 + 157919.8 = Rp490,327 Mil. Revenue was 1729100.067 + 1773379.177 + 1610941.679 + 1622016.759 = Rp6,735,438 Mil. Gross Profit was 388500.332 + 406836.309 + 380642.302 + 391103.65 = Rp1,567,083 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(3141361.378 + 3355685.426 + 3205184.44 + 3485187.948 + 3395753.959) / 5 = Rp3316634.6302 Mil. Total Assets at the begining of this year (Jun25) was Rp3,141,361 Mil. Long-Term Debt & Capital Lease Obligation was Rp14,873 Mil. Total Current Assets was Rp2,592,542 Mil. Total Current Liabilities was Rp1,043,801 Mil.
Net Income was 60267.354 + 91171.169 + 73128.921 + 75150.44 = Rp299,718 Mil.
Revenue was 1209961.727 + 1320063.784 + 1361977.867 + 1517233.402 = Rp5,409,237 Mil. Gross Profit was 270494.936 + 298389.076 + 301601.748 + 311369.885 = Rp1,181,856 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(2512939.293 + 2791381.502 + 3026895.276 + 3226475.685 + 3141361.378) / 5 = Rp2939810.6268 Mil. Total Assets at the begining of last year (Jun24) was Rp2,512,939 Mil. Long-Term Debt & Capital Lease Obligation was Rp74,707 Mil. Total Current Assets was Rp2,517,437 Mil. Total Current Liabilities was Rp1,102,387 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 Wismilak Inti Makmur Tbk's current Net Income (TTM) was 574,244.
==> 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 Wismilak Inti Makmur Tbk's current Cash Flow from Operations (TTM) was 490,327.
==> 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.
PT Wismilak Inti Makmur Tbk's return on assets of this year was 0.18280085. PT Wismilak Inti Makmur Tbk's return on assets of last year was 0.11926985.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
PT Wismilak Inti Makmur Tbk's gearing of this year was 0.00448432. PT Wismilak Inti Makmur Tbk's gearing of last year was 0.0254122.
==> 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
PT Wismilak Inti Makmur Tbk's current ratio of this year was 2.48375242. PT Wismilak Inti Makmur Tbk's current ratio of last year was 2.28362274.
==> 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 Wismilak Inti Makmur Tbk's number of shares in issue this year was 2086.904. PT Wismilak Inti Makmur Tbk's number of shares in issue last year was 2073.918.
==> 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.
PT Wismilak Inti Makmur Tbk's gross margin of this year was 0.23266233. PT Wismilak Inti Makmur Tbk's gross margin of last year was 0.21848843.
==> 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
PT Wismilak Inti Makmur Tbk's asset turnover of this year was 2.14411425. PT Wismilak Inti Makmur Tbk's asset turnover of last year was 2.1525537.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
=
Que. 1
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Que. 2
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+
Que. 4
+
Que. 5
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Que. 6
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Que. 7
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Que. 9
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1
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1
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1
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0
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1
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=
6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
PT Wismilak Inti Makmur Tbk has an F-score of 6 indicating the company's financial situation is typical for a stable company.
PT Wismilak Inti Makmur Tbk (ISX:WIIM) has a Piotroski F-Score of 6 as of Aug. 11, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on PT Wismilak Inti Makmur Tbk and its competitors. This is near median its historical median of 6.00. Over the past decade, PT Wismilak Inti Makmur Tbk's Piotroski F-Score has ranged from 2.00 to 9.00. According to the industry distribution chart, PT Wismilak Inti Makmur Tbk ranks #13 out of 48 companies in the Tobacco Products industry, placing it in the top 27.1%.
Is PT Wismilak Inti Makmur Tbk's Piotroski F-Score too high?
PT Wismilak Inti Makmur Tbk's current Piotroski F-Score of 6 is near median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 9.00. The Tobacco Products industry median Piotroski F-Score is 5.00. PT Wismilak Inti Makmur Tbk's value of 6 is 20% above this industry median. Based on the distribution chart, PT Wismilak Inti Makmur Tbk ranks #13 out of 48 companies in the Tobacco Products industry, which is above the industry midpoint. Overall, PT Wismilak Inti Makmur Tbk has a GF Score™ of 97/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does PT Wismilak Inti Makmur Tbk's Piotroski F-Score compare to PM and MO?
According to the Tobacco Products industry distribution chart, PT Wismilak Inti Makmur Tbk ranks #13 out of 48 companies for Piotroski F-Score. This puts PT Wismilak Inti Makmur Tbk in the upper half of its industry. The industry median Piotroski F-Score is 5.00. PT Wismilak Inti Makmur Tbk's value of 6 is 20% above this benchmark. Historically, PT Wismilak Inti Makmur Tbk's own Piotroski F-Score has ranged from 2.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, PT Wismilak Inti Makmur Tbk has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Tobacco Products company?
The median Piotroski F-Score among Tobacco Products companies is 5.00, based on 48 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. PT Wismilak Inti Makmur Tbk's current Piotroski F-Score of 6 is 20% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on PT Wismilak Inti Makmur Tbk and its competitors. For the Tobacco Products industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Wismilak Inti Makmur Tbk's current Piotroski F-Score is 6, which is near median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Wismilak Inti Makmur Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Wismilak Inti Makmur Tbk (ISX:WIIM) is currently considered Modestly Overvalued. The stock's GF Value™ is Rp1,622.88, compared to a current price of Rp1,800.00 — trading 10.9% above its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Tobacco Products industry median of 5.00. PT Wismilak Inti Makmur Tbk's overall GF Score™ is 97/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For PT Wismilak Inti Makmur Tbk (ISX:WIIM), the current Piotroski F-Score is 6 as of Aug. 11, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is PT Wismilak Inti Makmur Tbk (ISX:WIIM) Overvalued in 2026?
Based on GuruFocus' analysis, PT Wismilak Inti Makmur Tbk stock appears to be overvalued.
The current stock price of Rp1,800.00 is trading 10.9% above its estimated GF Value™ of Rp1,622.88.
GuruFocus considers PT Wismilak Inti Makmur Tbk to be Modestly Overvalued.
Key valuation signals for ISX:WIIM:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: Rp1,622.88 vs. price of Rp1,800.00 (10.9% above fair value)
Industry Position: 20% above the Tobacco Products median (#13 of 48)
No single metric tells the full story. See the ISX:WIIM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Wismilak Inti Makmur Tbk is an Indonesian-based company operating in the cigarette industry. The company is engaged in the manufacture and sale of machine-rolled cigarettes (SKM), hand-rolled cigarettes (SKT), and related cigarette products. It also produces cigarette filters and oriented polypropylene packaging materials. Its product portfolio includes kretek cigarettes and cigars marketed under brands such as Galan, Diplomat, and Wismilak. The company generates revenue mainly from machine-rolled cigarettes, hand-rolled cigarettes, and filter & oriented polypropylene products, with the majority of its revenue derived from Indonesia.
97GF Score
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