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The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Coda Octopus Group 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 Coda Octopus Group's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Coda Octopus Group was 8. The lowest was 4. And the median was 6.
The historical data trend for Coda Octopus Group'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.
Coda Octopus Group Annual Data | |||||||||||||||||||||
Trend | Oct14 | Oct15 | Oct16 | Oct17 | Oct18 | Oct19 | Oct20 | Oct21 | Oct22 | Oct23 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 6.00 | 5.00 | 6.00 | 6.00 | 4.00 |
Coda Octopus Group Quarterly Data | ||||||||||||||||||||
Apr19 | Jul19 | Oct19 | Jan20 | Apr20 | Jul20 | Oct20 | Jan21 | Apr21 | Jul21 | Oct21 | Jan22 | Apr22 | Jul22 | Oct22 | Jan23 | Apr23 | Jul23 | Oct23 | Jan24 | |
Piotroski F-Score | Get a 7-Day Free Trial | 4.00 | 7.00 | 6.00 | 4.00 | 6.00 |
For the Aerospace & Defense subindustry, Coda Octopus Group'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.
For the Aerospace & Defense industry and Industrials sector, Coda Octopus Group's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Coda Octopus Group'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 1.008 + 1.039 + -0.321 + 0.63 = $2.36 Mil. Cash Flow from Operations was -1.246 + 1.646 + 1.005 + -0.298 = $1.11 Mil. Revenue was 5.302 + 4.891 + 3.564 + 4.461 = $18.22 Mil. Gross Profit was 3.623 + 3.365 + 2.29 + 3.087 = $12.37 Mil. Average Total Assets from the begining of this year (Jan23) to the end of this year (Jan24) was (50.504 + 50.903 + 51.97 + 51.842 + 53.013) / 5 = $51.6464 Mil. Total Assets at the begining of this year (Jan23) was $50.50 Mil. Long-Term Debt & Capital Lease Obligation was $0.00 Mil. Total Current Assets was $42.77 Mil. Total Current Liabilities was $2.75 Mil. |
Net Income was 0.611 + 1.769 + 0.704 + 1.398 = $4.48 Mil. Revenue was 4.985 + 6.267 + 5.135 + 5.596 = $21.98 Mil. Gross Profit was 3.032 + 4.563 + 3.436 + 3.753 = $14.78 Mil. Average Total Assets from the begining of last year (Jan22) to the end of last year (Jan23) was (45.399 + 44.863 + 47.204 + 46.927 + 50.504) / 5 = $46.9794 Mil. Total Assets at the begining of last year (Jan22) was $45.40 Mil. Long-Term Debt & Capital Lease Obligation was $0.00 Mil. Total Current Assets was $40.31 Mil. Total Current Liabilities was $3.83 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.
Coda Octopus Group's current Net Income (TTM) was 2.36.
==> 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.
Coda Octopus Group's current Cash Flow from Operations (TTM) was 1.11.
==> 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) |
= | 2.356 | / | 50.504 | |
= | 0.04664977 |
ROA (Last Year) | = | Net Income | / | Total Assets (Jan22) |
= | 4.482 | / | 45.399 | |
= | 0.09872464 |
Coda Octopus Group's return on assets of this year was 0.04664977. Coda Octopus Group's return on assets of last year was 0.09872464.
==> 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.
Coda Octopus Group's current Net Income (TTM) was 2.36. Coda Octopus Group's current Cash Flow from Operations (TTM) was 1.11.
==> 1.11 <= 2.36 ==> 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 |
= | 0 | / | 51.6464 | |
= | 0 |
Gearing (Last Year: Jan23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Jan22 to Jan23 |
= | 0 | / | 46.9794 | |
= | 0 |
Coda Octopus Group's gearing of this year was 0. Coda Octopus Group's gearing of last year was 0.
==> 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 |
= | 42.773 | / | 2.753 | |
= | 15.53686887 |
Current Ratio (Last Year: Jan23) | = | Total Current Assets | / | Total Current Liabilities |
= | 40.306 | / | 3.832 | |
= | 10.51826722 |
Coda Octopus Group's current ratio of this year was 15.53686887. Coda Octopus Group's current ratio of last year was 10.51826722.
==> 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.
Coda Octopus Group's number of shares in issue this year was 11.264. Coda Octopus Group's number of shares in issue last year was 11.379.
==> 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 |
= | 12.365 | / | 18.218 | |
= | 0.67872434 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 14.784 | / | 21.983 | |
= | 0.67251967 |
Coda Octopus Group's gross margin of this year was 0.67872434. Coda Octopus Group's gross margin of last year was 0.67251967.
==> 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 (Jan23) |
= | 18.218 | / | 50.504 | |
= | 0.3607239 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Jan22) |
= | 21.983 | / | 45.399 | |
= | 0.48421771 |
Coda Octopus Group's asset turnover of this year was 0.3607239. Coda Octopus Group's asset turnover of last year was 0.48421771.
==> 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 | + | 0 | + | 1 | + | 1 | + | 1 | + | 1 | + | 0 | |
= | 6 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Coda Octopus Group has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Coda Octopus Group (NAS:CODA) 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.
Thank you for viewing the detailed overview of Coda Octopus Group's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Annmarie Gayle | director, officer: Chief Executive Officer | 6526 COTTONWOOD ST,, MURRAY UT 84107 |
Niels Soendergaard | 10 percent owner | 6526 COTTONWOOD ST, MURRAY UT 84107 |
G Tyler Runnels | 10 percent owner | 1999 AVENUE OF THE STARS, STE 2030, LOS ANGELES CA 90067 |
John Steven Emerson | 10 percent owner | 1522 ENSLEY AVENUE, LOS ANGELES CA 90024 |
Anthony Jean Tata | director | 1 WATER CLUB WAY,, PH2104, NORTH PALM BEACH FL 33408 |
Robert Ronald Harcourt | director | 3078 BRINE WAY, THE VILLAGES FL 32163 |
Gayle Michelle Jardine | officer: Interim CFO. | 12 RAVELRIG GAIT,, BALERNO, EDINBURGH X0 EH14 7NH |
Blair Graeme Cunningham | officer: Chief Technology Officer | 164 WEST 25TH STREET, NEW YORK NY 10001 |
Nathan William Parker | officer: Chief Financial Officer. | 14061 S. OLD SADDLE RD, DRAPER UT 84020 |
Kevin James Kane | officer: CEO Coda Octopus Colmek, Inc. | 11864 VISTA GLEN CT, SANDY UT 84092 |
Michael Midgley | officer: Acting Chief Financial Officer | 6526 COTTONWOOD ST,, MURRAY UT 84107 |
Michael J. Hamilton | director | NEWPORT OFFICE CENTER, 111 TOWN SQUARE PLACE, SUITE 1201, JERSEY CITY NJ 07310 |
Bryan Ezralow | 10 percent owner | THE EZRALOW CO, LLC, 23622 CALABASAS ROAD, SUITE 200, CALABASAS CA 91302-1549 |
Mary Losty | director | 613 LOCUST ST, CAMBRIDGE MD 21613 |
Joseph Charles Plumb | director | 3917, FAIRBREEZE CIR, WESTLAKE VLG CA 91361 |
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