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Fauji Foods (KAR:FFL) Piotroski F-Score : 5 (As of Mar. 29, 2025)


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What is Fauji Foods 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

Fauji Foods has an F-score of 5 indicating the company's financial situation is typical for a stable company.

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

KAR:FFL' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 5

During the past 11 years, the highest Piotroski F-Score of Fauji Foods was 7. The lowest was 2. And the median was 5.


Fauji Foods Piotroski F-Score Historical Data

The historical data trend for Fauji Foods'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.

Fauji Foods Piotroski F-Score Chart

Fauji Foods Annual Data
Trend Jun15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 6.00 4.00 7.00 5.00

Fauji Foods 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 7.00 7.00 7.00 7.00 5.00

Competitive Comparison of Fauji Foods's Piotroski F-Score

For the Packaged Foods subindustry, Fauji Foods'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.


Fauji Foods's Piotroski F-Score Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Fauji Foods's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Fauji Foods'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 103.356 + 233.855 + 223.02 + 96.167 = ₨656 Mil.
Cash Flow from Operations was 389.101 + 1095.862 + 1011.603 + -445.918 = ₨2,051 Mil.
Revenue was 5574.455 + 5839.024 + 6435.124 + 5555.49 = ₨23,404 Mil.
Gross Profit was 1088 + 1168.453 + 955.033 + 474.566 = ₨3,686 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(16210.308 + 17450.533 + 17813.309 + 18261.141 + 18652.434) / 5 = ₨17677.545 Mil.
Total Assets at the begining of this year (Dec23) was ₨16,210 Mil.
Long-Term Debt & Capital Lease Obligation was ₨225 Mil.
Total Current Assets was ₨9,094 Mil.
Total Current Liabilities was ₨8,801 Mil.
Net Income was -169.583 + 22.271 + 38.561 + 713.863 = ₨605 Mil.

Revenue was 5169.068 + 4789.209 + 4916.71 + 4495.555 = ₨19,371 Mil.
Gross Profit was 660.672 + 690.469 + 587.083 + 605.601 = ₨2,544 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(14216.281 + 15694.818 + 16058.732 + 15378.496 + 16210.308) / 5 = ₨15511.727 Mil.
Total Assets at the begining of last year (Dec22) was ₨14,216 Mil.
Long-Term Debt & Capital Lease Obligation was ₨0 Mil.
Total Current Assets was ₨7,139 Mil.
Total Current Liabilities was ₨2,105 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.

Fauji Foods's current Net Income (TTM) was 656. ==> 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.

Fauji Foods's current Cash Flow from Operations (TTM) was 2,051. ==> 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)
=656.398/16210.308
=0.04049263

ROA (Last Year)=Net Income/Total Assets (Dec22)
=605.112/14216.281
=0.04256472

Fauji Foods's return on assets of this year was 0.04049263. Fauji Foods's return on assets of last year was 0.04256472. ==> 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.

Fauji Foods's current Net Income (TTM) was 656. Fauji Foods's current Cash Flow from Operations (TTM) was 2,051. ==> 2,051 > 656 ==> 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
=224.554/17677.545
=0.01270278

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=0/15511.727
=0

Fauji Foods's gearing of this year was 0.01270278. Fauji Foods's gearing of last year was 0. ==> 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
=9094.269/8801.161
=1.03330333

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=7139.149/2104.527
=3.39228197

Fauji Foods's current ratio of this year was 1.03330333. Fauji Foods's current ratio of last year was 3.39228197. ==> 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.

Fauji Foods's number of shares in issue this year was 2519.963. Fauji Foods's number of shares in issue last year was 1788.598. ==> 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
=3686.052/23404.093
=0.15749604

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2543.825/19370.542
=0.13132441

Fauji Foods's gross margin of this year was 0.15749604. Fauji Foods's gross margin of last year was 0.13132441. ==> 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)
=23404.093/16210.308
=1.44377843

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=19370.542/14216.281
=1.36256043

Fauji Foods's asset turnover of this year was 1.44377843. Fauji Foods's asset turnover of last year was 1.36256043. ==> 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+0+1+0+0+0+1+1
=5

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

Fauji Foods has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Fauji Foods  (KAR:FFL) 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.


Fauji Foods Piotroski F-Score Related Terms

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Fauji Foods Business Description

Traded in Other Exchanges
N/A
Address
42 CCA, Ex-Park View, DHA Phase - VIII, Lahore, PB, PAK
Fauji Foods Ltd manufactures and sells dairy products. It is principally engaged in the processing and sale of toned milk, milk powder, fruit juices, allied dairy and food products. It operates brands like Nurpur which is into dairy products, Dostea a liquid tea whitener, MUST fruit drinks offers a range of fruit drinks, and the Food Services Department caters to all customers who require quality food solutions for their businesses.

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