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Intu Properties (JSE:ITU) Piotroski F-Score : 0 (As of May. 22, 2024)


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What is Intu Properties 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

Intu Properties has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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


Intu Properties Piotroski F-Score Historical Data

The historical data trend for Intu Properties'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.

Intu Properties Piotroski F-Score Chart

Intu Properties Annual Data
Trend Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.00 3.00 7.00 3.00 4.00

Intu Properties Semi-Annual Data
Jun10 Dec10 Jun11 Dec11 Jun12 Dec12 Jun13 Dec13 Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19
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 - 3.00 - 4.00

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 (Dec19) TTM:Last Year (Dec18) TTM:
Net Income was R-36,825 Mil.
Cash Flow from Operations was R210 Mil.
Revenue was R10,236 Mil.
Gross Profit was R6,571 Mil.
Average Total Assets from the begining of this year (Dec18)
to the end of this year (Dec19) was (170412.025 + 134342.492) / 2 = R152377.2585 Mil.
Total Assets at the begining of this year (Dec18) was R170,412 Mil.
Long-Term Debt & Capital Lease Obligation was R88,023 Mil.
Total Current Assets was R9,385 Mil.
Total Current Liabilities was R6,960 Mil.
Net Income was R-20,433 Mil.

Revenue was R10,487 Mil.
Gross Profit was R7,192 Mil.
Average Total Assets from the begining of last year (Dec17)
to the end of last year (Dec18) was (189436.24 + 170412.025) / 2 = R179924.1325 Mil.
Total Assets at the begining of last year (Dec17) was R189,436 Mil.
Long-Term Debt & Capital Lease Obligation was R89,952 Mil.
Total Current Assets was R6,820 Mil.
Total Current Liabilities was R6,650 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.

Intu Properties's current Net Income (TTM) was -36,825. ==> 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.

Intu Properties's current Cash Flow from Operations (TTM) was 210. ==> 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 (Dec18)
=-36825.219/170412.025
=-0.21609519

ROA (Last Year)=Net Income/Total Assets (Dec17)
=-20433.2/189436.24
=-0.10786321

Intu Properties's return on assets of this year was -0.21609519. Intu Properties's return on assets of last year was -0.10786321. ==> 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.

Intu Properties's current Net Income (TTM) was -36,825. Intu Properties's current Cash Flow from Operations (TTM) was 210. ==> 210 > -36,825 ==> 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: Dec19)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec18 to Dec19
=88022.637/152377.2585
=0.57766256

Gearing (Last Year: Dec18)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec17 to Dec18
=89951.561/179924.1325
=0.49994161

Intu Properties's gearing of this year was 0.57766256. Intu Properties's gearing of last year was 0.49994161. ==> 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: Dec19)=Total Current Assets/Total Current Liabilities
=9385.155/6959.587
=1.34852183

Current Ratio (Last Year: Dec18)=Total Current Assets/Total Current Liabilities
=6820.09/6650.445
=1.02550882

Intu Properties's current ratio of this year was 1.34852183. Intu Properties's current ratio of last year was 1.02550882. ==> 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.

Intu Properties's number of shares in issue this year was 1344.5. Intu Properties's number of shares in issue last year was 1343.7. ==> 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
=6570.741/10236.463
=0.64189564

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=7191.866/10487.31
=0.68576842

Intu Properties's gross margin of this year was 0.64189564. Intu Properties's gross margin of last year was 0.68576842. ==> 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 (Dec18)
=10236.463/170412.025
=0.0600689

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec17)
=10487.31/189436.24
=0.05536063

Intu Properties's asset turnover of this year was 0.0600689. Intu Properties's asset turnover of last year was 0.05536063. ==> 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
=0+1+0+1+0+1+0+0+1
=4

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

Intu Properties has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Intu Properties  (JSE:ITU) 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.


Intu Properties Piotroski F-Score Related Terms

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Intu Properties (JSE:ITU) Business Description

Traded in Other Exchanges
N/A
Address
40 Broadway, Westminster, London, GBR, SW1H 0BT
Intu Properties PLC is a British real estate investment trust that invests in, develops, and manages retail properties. The company's portfolio includes shopping centres across the United Kingdom and Spain. The company generates revenue from leasing properties to tenants, which include retailers, restaurants, and leisure venues. Intu Properties operates through two geographical segments: the U.K. and Spain. The UK segment delivers the vast majority of total revenue, as most of the company's properties are located in the United Kingdom.

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