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D G Khan Cement (KAR:DGKC) Piotroski F-Score : 7 (As of Mar. 27, 2025)


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What is D G Khan Cement Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, 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

D G Khan Cement has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for D G Khan Cement's Piotroski F-Score or its related term are showing as below:

KAR:DGKC' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 9
Current: 7

During the past 13 years, the highest Piotroski F-Score of D G Khan Cement was 9. The lowest was 1. And the median was 5.


D G Khan Cement Piotroski F-Score Historical Data

The historical data trend for D G Khan Cement'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.

D G Khan Cement Piotroski F-Score Chart

D G Khan Cement Annual Data
Trend Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.00 9.00 4.00 5.00 7.00

D G Khan Cement Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
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 7.00 6.00 7.00

Competitive Comparison of D G Khan Cement's Piotroski F-Score

For the Building Materials subindustry, D G Khan Cement'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.


D G Khan Cement's Piotroski F-Score Distribution in the Building Materials Industry

For the Building Materials industry and Basic Materials sector, D G Khan Cement's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where D G Khan Cement'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 (Dec24) TTM:Last Year (Dec23) TTM:
Net Income was 1279.6 + -1731.927 + 816.397 + 2873.58 = ₨3,238 Mil.
Cash Flow from Operations was -2687.66 + 2563.695 + 1994.53 + 4637.403 = ₨6,508 Mil.
Revenue was 16129.292 + 18378.207 + 16710.815 + 23435.094 = ₨74,653 Mil.
Gross Profit was 4013.322 + 1530.103 + 3142.308 + 5841.861 = ₨14,528 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(144175.078 + 149663.142 + 147831.935 + 148175.122 + 160296.663) / 5 = ₨150028.388 Mil.
Total Assets at the begining of this year (Dec23) was ₨144,175 Mil.
Long-Term Debt & Capital Lease Obligation was ₨16,782 Mil.
Total Current Assets was ₨56,656 Mil.
Total Current Liabilities was ₨36,294 Mil.
Net Income was 1215.375 + -5827.665 + 696.063 + 377.162 = ₨-3,539 Mil.

Revenue was 19656.612 + 18269.783 + 17624.124 + 19756.456 = ₨75,307 Mil.
Gross Profit was 3800.246 + 2134.998 + 3389.121 + 2679.233 = ₨12,004 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(144730.42 + 140662.185 + 142246.271 + 140502.313 + 144175.078) / 5 = ₨142463.2534 Mil.
Total Assets at the begining of last year (Dec22) was ₨144,730 Mil.
Long-Term Debt & Capital Lease Obligation was ₨15,526 Mil.
Total Current Assets was ₨44,831 Mil.
Total Current Liabilities was ₨40,612 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.

D G Khan Cement's current Net Income (TTM) was 3,238. ==> 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.

D G Khan Cement's current Cash Flow from Operations (TTM) was 6,508. ==> 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 (Dec23)
=3237.65/144175.078
=0.02245638

ROA (Last Year)=Net Income/Total Assets (Dec22)
=-3539.065/144730.42
=-0.02445281

D G Khan Cement's return on assets of this year was 0.02245638. D G Khan Cement's return on assets of last year was -0.02445281. ==> 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.

D G Khan Cement's current Net Income (TTM) was 3,238. D G Khan Cement's current Cash Flow from Operations (TTM) was 6,508. ==> 6,508 > 3,238 ==> 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: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=16782.311/150028.388
=0.1118609

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=15525.628/142463.2534
=0.10897988

D G Khan Cement's gearing of this year was 0.1118609. D G Khan Cement's gearing of last year was 0.10897988. ==> 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: Dec24)=Total Current Assets/Total Current Liabilities
=56655.599/36294.332
=1.56100404

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=44831.414/40611.733
=1.103903

D G Khan Cement's current ratio of this year was 1.56100404. D G Khan Cement's current ratio of last year was 1.103903. ==> 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.

D G Khan Cement's number of shares in issue this year was 438.046. D G Khan Cement's number of shares in issue last year was 438.56. ==> 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
=14527.594/74653.408
=0.19460055

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=12003.598/75306.975
=0.15939557

D G Khan Cement's gross margin of this year was 0.19460055. D G Khan Cement's gross margin of last year was 0.15939557. ==> 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 (Dec23)
=74653.408/144175.078
=0.5177969

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=75306.975/144730.42
=0.52032582

D G Khan Cement's asset turnover of this year was 0.5177969. D G Khan Cement's asset turnover of last year was 0.52032582. ==> 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+1+1+0+1+1+1+0
=7

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

D G Khan Cement has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

D G Khan Cement  (KAR:DGKC) 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.


D G Khan Cement Piotroski F-Score Related Terms

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D G Khan Cement Business Description

Traded in Other Exchanges
N/A
Address
53-A, Lawrence Road, Nishat House, Lahore, PB, PAK
D G Khan Cement Ltd is engaged in the production and sale of Clinker, Ordinary Portland and Sulphate Resistant Cement. It has four cement plants, two plants; located at Dera Ghazi Khan, one in Khairpur District, Chakwal, and one in Hub District, Lasbela. Its products are distributed across the Pakistan market. The company has three operating segments, which include the Cement segment: Production and sale of clinker, ordinary portland, and sulphate resistant cement, the Paper segment: Manufacture and supply of paper products and packing material, the Dairy segment: Production and sale of raw milk.

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