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
APA 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 APA's Piotroski F-Score or its related term are showing as below:
MEX:AP A'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 8
Current: 7
During the past 13 years, the highest Piotroski F-Score of APA was 8. The lowest was 2. And the median was 5.
APA Piotroski F-Score Historical Data
The historical data trend for APA'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.
For the Oil & Gas E&P subindustry, APA'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.
APA's Piotroski F-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, APA's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where APA'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 (Sep24) TTM:
Last Year (Sep23) TTM:
Net Income was 30095.342 + 2190.706 + 9911.176 + -4390.937 = MXN37,806 Mil. Cash Flow from Operations was 17483.475 + 6107.422 + 16066.73 + 26365.312 = MXN66,023 Mil. Revenue was 36783.195 + 32379.294 + 46588.022 + 49836.149 = MXN165,587 Mil. Gross Profit was 18858.39 + 15534.095 + 21324.6 + 21718.401 = MXN77,435 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(235938.96 + 258755.436 + 248147.205 + 369974.48 + 381519.253) / 5 = MXN298867.0668 Mil. Total Assets at the begining of this year (Sep23) was MXN235,939 Mil. Long-Term Debt & Capital Lease Obligation was MXN125,427 Mil. Total Current Assets was MXN71,279 Mil. Total Current Liabilities was MXN57,594 Mil.
Net Income was 8636.728 + 4362.05 + 6531.826 + 7995.274 = MXN27,526 Mil.
Revenue was 48194.112 + 36194.2 + 30790.444 + 40202.814 = MXN155,382 Mil. Gross Profit was 25812.704 + 19124.525 + 14726.61 + 20833.001 = MXN80,497 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(274147.335 + 256313.912 + 238164.325 + 227053.812 + 235938.96) / 5 = MXN246323.6688 Mil. Total Assets at the begining of last year (Sep22) was MXN274,147 Mil. Long-Term Debt & Capital Lease Obligation was MXN97,232 Mil. Total Current Assets was MXN48,773 Mil. Total Current Liabilities was MXN45,899 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.
APA's current Net Income (TTM) was 37,806.
==> 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.
APA's current ratio of this year was 1.23760683. APA's current ratio of last year was 1.0626186.
==> 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.
APA's number of shares in issue this year was 370. APA's number of shares in issue last year was 308.
==> 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.
APA's gross margin of this year was 0.46764326. APA's gross margin of last year was 0.51805912.
==> 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
APA's asset turnover of this year was 0.70181991. APA's asset turnover of last year was 0.56678125.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Que. 1
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Que. 2
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Que. 4
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Que. 5
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1
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
APA has an F-score of 6 indicating the company's financial situation is typical for a stable company.
APA (MEX:AP A) 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.
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.
APA Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of APA's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Based in Houston, APA is an independent exploration and production company. It operates primarily in the US, Egypt, the North Sea, and Suriname. At year-end 2023, proved reserves totaled 807 million barrels of oil equivalent, with net reported production of 405 thousand boe/day that year (64% of which was oil and natural gas liquids, with the remainder natural gas).
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