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Coca-Cola FemsaB de CV Piotroski F-Score

: 9 (As of Today)
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Good Sign:

Piotroski F-Score is 9, 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

Coca-Cola FemsaB de CV has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Coca-Cola FemsaB de CV's Piotroski F-Score or its related term are showing as below:

KOF' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 9
Current: 9

During the past 13 years, the highest Piotroski F-Score of Coca-Cola FemsaB de CV was 9. The lowest was 1. And the median was 5.


Coca-Cola FemsaB de CV Piotroski F-Score Historical Data

The historical data trend for Coca-Cola FemsaB de CV'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.

Coca-Cola FemsaB de CV Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.00 6.00 6.00 6.00 9.00

Coca-Cola FemsaB de CV Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
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 - - 9.00 - -

Competitive Comparison

For the Beverages - Non-Alcoholic subindustry, Coca-Cola FemsaB de CV'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.

   

Coca-Cola FemsaB de CV Piotroski F-Score Distribution

For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Coca-Cola FemsaB de CV's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Coca-Cola FemsaB de CV'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 (Dec21) TTM:Last Year (Dec20) TTM:
Net Income was $751 Mil.
Cash Flow from Operations was $1,564 Mil.
Revenue was $9,309 Mil.
Gross Profit was $4,234 Mil.
Average Total Assets from the begining of this year (Dec20)
to the end of this year (Dec21) was (13179.395202501 + 12977.492115072) / 2 = $13078.443658787 Mil.
Total Assets at the begining of this year (Dec20) was $13,179 Mil.
Long-Term Debt & Capital Lease Obligation was $4,025 Mil.
Total Current Assets was $3,840 Mil.
Total Current Liabilities was $2,209 Mil.
Net Income was $516 Mil.

Revenue was $9,199 Mil.
Gross Profit was $4,149 Mil.
Average Total Assets from the begining of last year (Dec19)
to the end of last year (Dec20) was (13497.728034174 + 13179.395202501) / 2 = $13338.561618337 Mil.
Total Assets at the begining of last year (Dec19) was $13,498 Mil.
Long-Term Debt & Capital Lease Obligation was $4,169 Mil.
Total Current Assets was $3,629 Mil.
Total Current Liabilities was $2,147 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.

Coca-Cola FemsaB de CV's current Net Income (TTM) was 751. ==> 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.

Coca-Cola FemsaB de CV's current Cash Flow from Operations (TTM) was 1,564. ==> 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 (Dec20)
=750.64513045972/13179.395202501
=0.05695596

ROA (Last Year)=Net Income/Total Assets (Dec19)
=516.37241738643/13497.728034174
=0.03825625

Coca-Cola FemsaB de CV's return on assets of this year was 0.05695596. Coca-Cola FemsaB de CV's return on assets of last year was 0.03825625. ==> This year is higher. ==> Score 1.

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.

Coca-Cola FemsaB de CV's current Net Income (TTM) was 751. Coca-Cola FemsaB de CV's current Cash Flow from Operations (TTM) was 1,564. ==> 1,564 > 751 ==> 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: Dec21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec20 to Dec21
=4024.6583197936/13078.443658787
=0.30773221

Gearing (Last Year: Dec20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec19 to Dec20
=4168.6038355945/13338.561618337
=0.31252274

Coca-Cola FemsaB de CV's gearing of this year was 0.30773221. Coca-Cola FemsaB de CV's gearing of last year was 0.31252274. ==> 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: Dec21)=Total Current Assets/Total Current Liabilities
=3840.3899455223/2208.7833317404
=1.73869021

Current Ratio (Last Year: Dec20)=Total Current Assets/Total Current Liabilities
=3629.18578786/2146.5000701389
=1.69074571

Coca-Cola FemsaB de CV's current ratio of this year was 1.73869021. Coca-Cola FemsaB de CV's current ratio of last year was 1.69074571. ==> 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.

Coca-Cola FemsaB de CV's number of shares in issue this year was 210.084. Coca-Cola FemsaB de CV's number of shares in issue last year was 210.084. ==> 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
=4233.8717385071/9309.1847462487
=0.45480586

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=4148.7645538166/9198.9639486183
=0.45100346

Coca-Cola FemsaB de CV's gross margin of this year was 0.45480586. Coca-Cola FemsaB de CV's gross margin of last year was 0.45100346. ==> 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 (Dec20)
=9309.1847462487/13179.395202501
=0.70634385

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec19)
=9198.9639486183/13497.728034174
=0.68151943

Coca-Cola FemsaB de CV's asset turnover of this year was 0.70634385. Coca-Cola FemsaB de CV's asset turnover of last year was 0.68151943. ==> 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+1+1+1+1+1+1+1
=9

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

Coca-Cola FemsaB de CV has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

Coca-Cola FemsaB de CV  (NYSE:KOF) 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.


Coca-Cola FemsaB de CV Piotroski F-Score Related Terms

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Coca-Cola FemsaB de CV Business Description

Coca-Cola FemsaB de CV logo
Address
Calle Mario Pani Number 100, Santa Fe Cuajimalpa, Cuajimalpa de Morelos, Ciudad de Mexico, DF, MEX, 05348
Coca-Cola Femsa, a subsidiary of Femsa, is the largest franchise bottler of the Coca-Cola Co. by volume. The firm primarily purchases beverage concentrates from TCCC, which it processes and packages, and then distributes the finished trademark beverages to on- and off-premises retailers. While Mexico and Brazil are Coca-Cola Femsa's most important markets, generating roughly 80% of volume, the firm operates in other Central and South American countries, including Panama, Guatemala, Uruguay, and Argentina. The equity value of the firm is divvied up between Femsa (which owns series A shares), TCCC (series D), and the public, holding 47%, 28%, and 25% economic interests, respectively. Series A and D shares control 89% of the voting rights and are not publicly listed.

Coca-Cola FemsaB de CV Headlines

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