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KURRF (Kuraray Co) Piotroski F-Score : 6 (As of Dec. 15, 2024)


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What is Kuraray Co 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

Kuraray Co 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 Kuraray Co's Piotroski F-Score or its related term are showing as below:

KURRF' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 7
Current: 6

During the past 13 years, the highest Piotroski F-Score of Kuraray Co was 7. The lowest was 1. And the median was 5.


Kuraray Co Piotroski F-Score Historical Data

The historical data trend for Kuraray Co'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.

Kuraray Co Piotroski F-Score Chart

Kuraray Co Annual Data
Trend Mar14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 6.00 7.00 6.00 6.00

Kuraray Co Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
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 - 6.00 - - -

Competitive Comparison of Kuraray Co's Piotroski F-Score

For the Chemicals subindustry, Kuraray Co'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.


Kuraray Co's Piotroski F-Score Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, Kuraray Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Kuraray Co'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 (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was $295 Mil.
Cash Flow from Operations was $898 Mil.
Revenue was $5,424 Mil.
Gross Profit was $1,667 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (9054.107 + 8712.821) / 2 = $8883.464 Mil.
Total Assets at the begining of this year (Dec22) was $9,054 Mil.
Long-Term Debt & Capital Lease Obligation was $1,509 Mil.
Total Current Assets was $3,832 Mil.
Total Current Liabilities was $1,393 Mil.
Net Income was $403 Mil.

Revenue was $5,606 Mil.
Gross Profit was $1,791 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (9584.347 + 9054.107) / 2 = $9319.227 Mil.
Total Assets at the begining of last year (Dec21) was $9,584 Mil.
Long-Term Debt & Capital Lease Obligation was $1,775 Mil.
Total Current Assets was $3,958 Mil.
Total Current Liabilities was $1,641 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.

Kuraray Co's current Net Income (TTM) was 295. ==> 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.

Kuraray Co's current Cash Flow from Operations (TTM) was 898. ==> 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 (Dec22)
=294.802/9054.107
=0.03256003

ROA (Last Year)=Net Income/Total Assets (Dec21)
=402.528/9584.347
=0.04199848

Kuraray Co's return on assets of this year was 0.03256003. Kuraray Co's return on assets of last year was 0.04199848. ==> 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.

Kuraray Co's current Net Income (TTM) was 295. Kuraray Co's current Cash Flow from Operations (TTM) was 898. ==> 898 > 295 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=1509.305/8883.464
=0.1699005

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=1775.128/9319.227
=0.19048018

Kuraray Co's gearing of this year was 0.1699005. Kuraray Co's gearing of last year was 0.19048018. ==> 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

Current Ratio (This Year: Dec23)=Total Current Assets/Total Current Liabilities
=3831.93/1393.033
=2.75078193

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=3957.557/1640.517
=2.41238402

Kuraray Co's current ratio of this year was 2.75078193. Kuraray Co's current ratio of last year was 2.41238402. ==> 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.

Kuraray Co's number of shares in issue this year was 334.985. Kuraray Co's number of shares in issue last year was 337.311. ==> 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
=1666.756/5423.877
=0.30729974

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1791.227/5606.323
=0.31950121

Kuraray Co's gross margin of this year was 0.30729974. Kuraray Co's gross margin of last year was 0.31950121. ==> 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 (Dec22)
=5423.877/9054.107
=0.59905157

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=5606.323/9584.347
=0.58494575

Kuraray Co's asset turnover of this year was 0.59905157. Kuraray Co's asset turnover of last year was 0.58494575. ==> 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+1+1+1+0+1
=7

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

Kuraray Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Kuraray Co  (OTCPK:KURRF) 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.


Kuraray Co Piotroski F-Score Related Terms

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Kuraray Co Business Description

Traded in Other Exchanges
Address
Ote Center Building,1-1-3, Otemachi, Chiyoda-ku, Tokyo, JPN, 100-8115
Kuraray Co Ltd manufactures and sells specialty chemicals, fiber, and resin. The firm organizes itself into six segments based on product type. The Vinyl Acetate segment, which generates the most revenue of any segment, sells plastic films and resins for use in the food packaging and electronics industries. The Isoprene segment sells isoprene chemicals, thermoplastic elastomers, and liquid rubber. The Functional Materials segment sells dental materials, while the Fibers and Textiles segment sells fibers for cement and concrete, industrial products for automobiles, and hook and loop fasteners for clothing. The other two segments are Trading, and Other. The majority of revenue comes from Asia.

Kuraray Co Headlines

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