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Cementos PacasmayoA (Cementos PacasmayoA) Piotroski F-Score

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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

Cementos PacasmayoA 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 Cementos PacasmayoA's Piotroski F-Score or its related term are showing as below:

During the past 13 years, the highest Piotroski F-Score of Cementos PacasmayoA was 8. The lowest was 3. And the median was 5.


Cementos PacasmayoA Piotroski F-Score Historical Data

The historical data trend for Cementos PacasmayoA'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.

Cementos PacasmayoA Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 5.00 7.00 7.00 -

Cementos PacasmayoA Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Piotroski F-Score 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 Premium Member Only Premium Member Only Premium Member Only 7.00 7.00 5.00 N/A -

Competitive Comparison

For the Building Materials subindustry, Cementos PacasmayoA'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.


Cementos PacasmayoA Piotroski F-Score Distribution

For the Building Materials industry and Basic Materials sector, Cementos PacasmayoA's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Cementos PacasmayoA'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 (Sep23) TTM:Last Year (Sep22) TTM:
Net Income was 10.406 + 11.628 + 11.612 + 12.329 = $46.0 Mil.
Cash Flow from Operations was 13.443 + -15.799 + 28.652 + 66.265 = $92.6 Mil.
Revenue was 142.738 + 128.328 + 118.18 + 138.132 = $527.4 Mil.
Gross Profit was 43.611 + 42.936 + 40.792 + 46.69 = $174.0 Mil.
Average Total Assets from the begining of this year (Sep22)
to the end of this year (Sep23) was
(0 + 886.051 + 877.892 + 895.228 + 910.078) / 5 = $892.31225 Mil.
Total Assets at the begining of this year (Sep22) was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $1.0 Mil.
Total Current Assets was $300.9 Mil.
Total Current Liabilities was $184.8 Mil.
Net Income was 13.792 + 12.225 + 12.827 + 11.817 = $50.7 Mil.

Revenue was 140.325 + 140.47 + 134.448 + 147.995 = $563.2 Mil.
Gross Profit was 43.151 + 44.104 + 42.264 + 44.343 = $173.9 Mil.
Average Total Assets from the begining of last year (Sep21)
to the end of last year (Sep22) was
(841.959 + 856.003 + 848.611 + 874.614 + 0) / 5 = $855.29675 Mil.
Total Assets at the begining of last year (Sep21) was $842.0 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 Mil.
Total Current Assets was $0.0 Mil.
Total Current Liabilities was $0.0 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.

Cementos PacasmayoA's current Net Income (TTM) was 46.0. ==> 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.

Cementos PacasmayoA's current Cash Flow from Operations (TTM) was 92.6. ==> 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 (Sep22)
=45.975/0
=

ROA (Last Year)=Net Income/Total Assets (Sep21)
=50.661/841.959
=0.06017039

Cementos PacasmayoA's return on assets of this year was . Cementos PacasmayoA's return on assets of last year was 0.06017039. ==> 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.

Cementos PacasmayoA's current Net Income (TTM) was 46.0. Cementos PacasmayoA's current Cash Flow from Operations (TTM) was 92.6. ==> 92.6 > 46.0 ==> 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: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=1.017/892.31225
=0.00113974

Gearing (Last Year: Sep22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep21 to Sep22
=0/855.29675
=0

Cementos PacasmayoA's gearing of this year was 0.00113974. Cementos PacasmayoA's gearing of last year was 0. ==> Last year is lower than this year ==> Score 0.

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: Sep23)=Total Current Assets/Total Current Liabilities
=300.866/184.779
=1.6282478

Current Ratio (Last Year: Sep22)=Total Current Assets/Total Current Liabilities
=0/0
=

Cementos PacasmayoA's current ratio of this year was 1.6282478. Cementos PacasmayoA's current ratio of last year was . ==> 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.

Cementos PacasmayoA's number of shares in issue this year was 85.621. Cementos PacasmayoA's number of shares in issue last year was 85.621. ==> 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
=174.029/527.378
=0.32998912

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=173.862/563.238
=0.30868301

Cementos PacasmayoA's gross margin of this year was 0.32998912. Cementos PacasmayoA's gross margin of last year was 0.30868301. ==> 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 (Sep22)
=527.378/0
=

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep21)
=563.238/841.959
=0.66896132

Cementos PacasmayoA's asset turnover of this year was . Cementos PacasmayoA's asset turnover of last year was 0.66896132. ==> 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+0+1+1+1+0
=6

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

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

Cementos PacasmayoA  (NYSE:CPAC) 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.


Cementos PacasmayoA Piotroski F-Score Related Terms

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Cementos PacasmayoA (Cementos PacasmayoA) Business Description

Traded in Other Exchanges
Address
Calle La Colonia No. 150, Urbanizacion El Vivero, Surco, Lima, PER
Cementos Pacasmayo SAA is a Peruvian cement company that primarily produces, distributes, and sells cement and cement-related materials, such as concrete blocks and ready-mix concrete. The company's products are primarily used in construction. It also produces and sells quicklime for use in mining operations. The company sells its products mainly in the northern part of Peru. It owns three cement production facilities. Its flagship Pacasmayo facility is located in the northwest region of Peru, while its new cement plant in Piura and smaller Rioja facility are located in the northeast region of Peru.