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Sameer Africa (NAI:SMER) Piotroski F-Score : 5 (As of May. 25, 2024)


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What is Sameer Africa 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

Sameer Africa 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 Sameer Africa's Piotroski F-Score or its related term are showing as below:

NAI:SMER' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 8
Current: 5

During the past 12 years, the highest Piotroski F-Score of Sameer Africa was 8. The lowest was 2. And the median was 6.


Sameer Africa Piotroski F-Score Historical Data

The historical data trend for Sameer Africa'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.

Sameer Africa Piotroski F-Score Chart

Sameer Africa Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.00 3.00 7.00 8.00 5.00

Sameer Africa Semi-Annual Data
Dec11 Dec12 Dec13 Jun14 Dec14 Jun15 Dec15 Dec16 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23
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 - 8.00 - 5.00 -

Competitive Comparison of Sameer Africa's Piotroski F-Score

For the Auto Parts subindustry, Sameer Africa'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.


Sameer Africa's Piotroski F-Score Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Sameer Africa's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Sameer Africa'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 (Dec22) TTM:Last Year (Dec21) TTM:
Net Income was KES100.3 Mil.
Cash Flow from Operations was KES224.2 Mil.
Revenue was KES613.1 Mil.
Gross Profit was KES370.1 Mil.
Average Total Assets from the begining of this year (Dec21)
to the end of this year (Dec22) was (1124.09 + 1212.686) / 2 = KES1168.388 Mil.
Total Assets at the begining of this year (Dec21) was KES1,124.1 Mil.
Long-Term Debt & Capital Lease Obligation was KES445.4 Mil.
Total Current Assets was KES365.2 Mil.
Total Current Liabilities was KES330.1 Mil.
Net Income was KES217.4 Mil.

Revenue was KES651.6 Mil.
Gross Profit was KES491.1 Mil.
Average Total Assets from the begining of last year (Dec20)
to the end of last year (Dec21) was (1047.155 + 1124.09) / 2 = KES1085.6225 Mil.
Total Assets at the begining of last year (Dec20) was KES1,047.2 Mil.
Long-Term Debt & Capital Lease Obligation was KES496.0 Mil.
Total Current Assets was KES342.7 Mil.
Total Current Liabilities was KES288.4 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.

Sameer Africa's current Net Income (TTM) was 100.3. ==> 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.

Sameer Africa's current Cash Flow from Operations (TTM) was 224.2. ==> 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 (Dec21)
=100.264/1124.09
=0.0891957

ROA (Last Year)=Net Income/Total Assets (Dec20)
=217.388/1047.155
=0.20759868

Sameer Africa's return on assets of this year was 0.0891957. Sameer Africa's return on assets of last year was 0.20759868. ==> 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.

Sameer Africa's current Net Income (TTM) was 100.3. Sameer Africa's current Cash Flow from Operations (TTM) was 224.2. ==> 224.2 > 100.3 ==> 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: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=445.446/1168.388
=0.38124835

Gearing (Last Year: Dec21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec20 to Dec21
=495.994/1085.6225
=0.4568752

Sameer Africa's gearing of this year was 0.38124835. Sameer Africa's gearing of last year was 0.4568752. ==> 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: Dec22)=Total Current Assets/Total Current Liabilities
=365.224/330.131
=1.10630023

Current Ratio (Last Year: Dec21)=Total Current Assets/Total Current Liabilities
=342.717/288.367
=1.1884751

Sameer Africa's current ratio of this year was 1.10630023. Sameer Africa's current ratio of last year was 1.1884751. ==> 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.

Sameer Africa's number of shares in issue this year was 278.342. Sameer Africa's number of shares in issue last year was 278.342. ==> 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
=370.091/613.065
=0.60367335

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=491.089/651.606
=0.75365942

Sameer Africa's gross margin of this year was 0.60367335. Sameer Africa's gross margin of last year was 0.75365942. ==> 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 (Dec21)
=613.065/1124.09
=0.54538782

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec20)
=651.606/1047.155
=0.62226318

Sameer Africa's asset turnover of this year was 0.54538782. Sameer Africa's asset turnover of last year was 0.62226318. ==> 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+0+1+1+0+1+0+0
=5

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

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

Sameer Africa  (NAI:SMER) 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.


Sameer Africa Piotroski F-Score Related Terms

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Sameer Africa (NAI:SMER) Business Description

Traded in Other Exchanges
N/A
Address
Mombasa Road Junction, PO Box 30429, LR No. 12081/9, Nairobi, KEN, 00100
Sameer Africa Ltd engages in the manufacturing and distribution of tyres and allied products and the letting of investment property. The company operates through four business segments: sourcing and distribution, regional operations, Yana tyre centre, and rental business where the sourcing and distribution segment is engaged in the manufacturing and distribution of tires, tubes, and flaps, the regional operations segment engages in the buying and distribution of tires, tubes, and flaps in the Eastern Africa region, Yana tyre center segment is involved in the retailing of tires, tubes, and flaps, and the provision of tire-related services and the rental business segment is engaged in the letting of investment properties.

Sameer Africa (NAI:SMER) Headlines

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