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Simonds Farsons Cisk (MAL:SFC) Piotroski F-Score : 6 (As of Dec. 14, 2024)


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What is Simonds Farsons Cisk 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

Simonds Farsons Cisk has an F-score of 6 indicating the company's financial situation is typical for a stable company.

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

MAL:SFC' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 7   Max: 9
Current: 6

During the past 13 years, the highest Piotroski F-Score of Simonds Farsons Cisk was 9. The lowest was 4. And the median was 7.


Simonds Farsons Cisk Piotroski F-Score Historical Data

The historical data trend for Simonds Farsons Cisk'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.

Simonds Farsons Cisk Piotroski F-Score Chart

Simonds Farsons Cisk Annual Data
Trend Jan15 Jan16 Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 6.00 8.00 7.00 6.00

Simonds Farsons Cisk Semi-Annual Data
Jan15 Jul15 Jan16 Jul16 Jan17 Jul17 Jan18 Jul18 Jan19 Jul19 Jan20 Jul20 Jan21 Jul21 Jan22 Jul22 Jan23 Jul23 Jan24 Jul24
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 - 6.00 -

Competitive Comparison of Simonds Farsons Cisk's Piotroski F-Score

For the Beverages - Brewers subindustry, Simonds Farsons Cisk'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.


Simonds Farsons Cisk's Piotroski F-Score Distribution in the Beverages - Alcoholic Industry

For the Beverages - Alcoholic industry and Consumer Defensive sector, Simonds Farsons Cisk's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Simonds Farsons Cisk'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 (Jan24) TTM:Last Year (Jan23) TTM:
Net Income was €15.3 Mil.
Cash Flow from Operations was €13.4 Mil.
Revenue was €132.9 Mil.
Gross Profit was €49.5 Mil.
Average Total Assets from the begining of this year (Jan23)
to the end of this year (Jan24) was (213.986 + 212.311) / 2 = €213.1485 Mil.
Total Assets at the begining of this year (Jan23) was €214.0 Mil.
Long-Term Debt & Capital Lease Obligation was €24.9 Mil.
Total Current Assets was €65.8 Mil.
Total Current Liabilities was €35.7 Mil.
Net Income was €15.5 Mil.

Revenue was €118.2 Mil.
Gross Profit was €44.2 Mil.
Average Total Assets from the begining of last year (Jan22)
to the end of last year (Jan23) was (200.932 + 213.986) / 2 = €207.459 Mil.
Total Assets at the begining of last year (Jan22) was €200.9 Mil.
Long-Term Debt & Capital Lease Obligation was €29.8 Mil.
Total Current Assets was €61.7 Mil.
Total Current Liabilities was €39.4 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.

Simonds Farsons Cisk's current Net Income (TTM) was 15.3. ==> 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.

Simonds Farsons Cisk's current Cash Flow from Operations (TTM) was 13.4. ==> 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 (Jan23)
=15.273/213.986
=0.07137383

ROA (Last Year)=Net Income/Total Assets (Jan22)
=15.472/200.932
=0.07700117

Simonds Farsons Cisk's return on assets of this year was 0.07137383. Simonds Farsons Cisk's return on assets of last year was 0.07700117. ==> 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.

Simonds Farsons Cisk's current Net Income (TTM) was 15.3. Simonds Farsons Cisk's current Cash Flow from Operations (TTM) was 13.4. ==> 13.4 <= 15.3 ==> CFROA <= ROA ==> Score 0.

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: Jan24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jan23 to Jan24
=24.949/213.1485
=0.11704985

Gearing (Last Year: Jan23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jan22 to Jan23
=29.768/207.459
=0.14348859

Simonds Farsons Cisk's gearing of this year was 0.11704985. Simonds Farsons Cisk's gearing of last year was 0.14348859. ==> 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: Jan24)=Total Current Assets/Total Current Liabilities
=65.78/35.746
=1.8402059

Current Ratio (Last Year: Jan23)=Total Current Assets/Total Current Liabilities
=61.657/39.414
=1.56434262

Simonds Farsons Cisk's current ratio of this year was 1.8402059. Simonds Farsons Cisk's current ratio of last year was 1.56434262. ==> 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.

Simonds Farsons Cisk's number of shares in issue this year was 36. Simonds Farsons Cisk's number of shares in issue last year was 36. ==> 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
=49.486/132.871
=0.37243642

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=44.209/118.238
=0.37389841

Simonds Farsons Cisk's gross margin of this year was 0.37243642. Simonds Farsons Cisk's gross margin of last year was 0.37389841. ==> 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 (Jan23)
=132.871/213.986
=0.62093315

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jan22)
=118.238/200.932
=0.58844783

Simonds Farsons Cisk's asset turnover of this year was 0.62093315. Simonds Farsons Cisk's asset turnover of last year was 0.58844783. ==> 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+0+1+1+1+0+1
=6

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

Simonds Farsons Cisk has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Simonds Farsons Cisk  (MAL:SFC) 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.


Simonds Farsons Cisk Piotroski F-Score Related Terms

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Simonds Farsons Cisk Business Description

Traded in Other Exchanges
N/A
Address
The Brewery, Mdina Road, Zone 2, Central Business District, Birkirkara, MLT, CBD 2010
Simonds Farsons Cisk PLC engages in the brewing, production, and sale of beers and beverages in Malta. The company's segments include Brewing, production, and sale of beer and branded beverages; Importation, wholesale of food and Operation of franchised food establishments. It generates maximum revenue from the Brewing, production segment. The company offers beers, ciders, champagnes, soft drinks, bottled water, and others; and imports, wholesales, and retails food and beverages, including wines and spirits.

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