GURUFOCUS.COM » STOCK LIST » USA » NYSE » POSCO Holdings Inc (NYSE:PKX) » Definitions » Piotroski F-Score
Switch to:

POSCO Holdings Piotroski F-Score

: 7 (As of Today)
View and export this data going back to 1994. Start your Free Trial

Good Sign:

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

POSCO Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for POSCO Holdings's Piotroski F-Score or its related term are showing as below:

PKX' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 9
Current: 7

During the past 13 years, the highest Piotroski F-Score of POSCO Holdings was 9. The lowest was 2. And the median was 5.


POSCO Holdings Piotroski F-Score Historical Data

The historical data trend for POSCO Holdings'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.

POSCO Holdings 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 8.00 5.00 6.00 5.00 6.00

POSCO Holdings Quarterly Data
Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22
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 8.00 9.00 8.00 6.00 7.00

Competitive Comparison

For the Steel subindustry, POSCO Holdings'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.

   

POSCO Holdings Piotroski F-Score Distribution

For the Steel industry and Basic Materials sector, POSCO Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where POSCO Holdings'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 (Mar22) TTM:Last Year (Mar21) TTM:
Net Income was 1482.5691940539 + 2071.6930745494 + 1256.8157892759 + 1401.9943139192 = $6,213 Mil.
Cash Flow from Operations was 1464.6635559915 + 1358.2794958131 + 2070.5006414885 + 7.7118975945187 = $4,901 Mil.
Revenue was 16294.625912374 + 17595.965788412 + 17747.578295261 + 17478.174264968 = $69,116 Mil.
Gross Profit was 2514.8981304504 + 3221.7375400637 + 2631.4409541248 + 2398.9735271811 = $10,767 Mil.
Average Total Assets from the begining of this year (Mar21)
to the end of this year (Mar22) was
(73277.857912153 + 74353.3388746 + 76853.339688392 + 77962.577681605 + 80785.823115854) / 5 = $76646.58745452 Mil.
Total Assets at the begining of this year (Mar21) was $73,278 Mil.
Long-Term Debt & Capital Lease Obligation was $11,073 Mil.
Total Current Assets was $41,716 Mil.
Total Current Liabilities was $19,312 Mil.
Net Income was 33.375149623525 + 395.50689847296 + 621.76239701383 + 906.64198313601 = $1,957 Mil.

Revenue was 11368.822745079 + 12118.004669877 + 13657.215532522 + 14216.909415872 = $51,361 Mil.
Gross Profit was 608.09850714933 + 1025.7269778213 + 1295.2423304122 + 1891.4106321029 = $4,820 Mil.
Average Total Assets from the begining of last year (Mar20)
to the end of last year (Mar21) was
(67526.753732676 + 68032.748609528 + 69754.357754296 + 72851.142214448 + 73277.857912153) / 5 = $70288.57204462 Mil.
Total Assets at the begining of last year (Mar20) was $67,527 Mil.
Long-Term Debt & Capital Lease Obligation was $11,548 Mil.
Total Current Assets was $34,897 Mil.
Total Current Liabilities was $16,181 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.

POSCO Holdings's current Net Income (TTM) was 6,213. ==> 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.

POSCO Holdings's current Cash Flow from Operations (TTM) was 4,901. ==> 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 (Mar21)
=6213.0723717984/73277.857912153
=0.08478785

ROA (Last Year)=Net Income/Total Assets (Mar20)
=1957.2864282463/67526.753732676
=0.02898535

POSCO Holdings's return on assets of this year was 0.08478785. POSCO Holdings's return on assets of last year was 0.02898535. ==> 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.

POSCO Holdings's current Net Income (TTM) was 6,213. POSCO Holdings's current Cash Flow from Operations (TTM) was 4,901. ==> 4,901 <= 6,213 ==> 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: Mar22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar21 to Mar22
=11072.755671931/76646.58745452
=0.14446508

Gearing (Last Year: Mar21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar20 to Mar21
=11547.741955063/70288.57204462
=0.16429046

POSCO Holdings's gearing of this year was 0.14446508. POSCO Holdings's gearing of last year was 0.16429046. ==> 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: Mar22)=Total Current Assets/Total Current Liabilities
=41716.134346416/19311.835801045
=2.16013303

Current Ratio (Last Year: Mar21)=Total Current Assets/Total Current Liabilities
=34896.746687891/16181.392983862
=2.15659719

POSCO Holdings's current ratio of this year was 2.16013303. POSCO Holdings's current ratio of last year was 2.15659719. ==> 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.

POSCO Holdings's number of shares in issue this year was 314.971. POSCO Holdings's number of shares in issue last year was 303.647. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=10767.05015182/69116.344261015
=0.15578153

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=4820.4784474857/51360.95236335
=0.09385493

POSCO Holdings's gross margin of this year was 0.15578153. POSCO Holdings's gross margin of last year was 0.09385493. ==> 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 (Mar21)
=69116.344261015/73277.857912153
=0.94320913

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar20)
=51360.95236335/67526.753732676
=0.76060153

POSCO Holdings's asset turnover of this year was 0.94320913. POSCO Holdings's asset turnover of last year was 0.76060153. ==> 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+0+1+1+0+1+1
=7

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

POSCO Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

POSCO Holdings  (NYSE:PKX) 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.


POSCO Holdings Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of POSCO Holdings's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


POSCO Holdings Business Description

POSCO Holdings logo
Address
POSCO Center, 440 Teheran-ro, Gangnam-gu, Seoul, KOR, 06194
POSCO Holdings Inc is the largest steel producer in South Korea and one of the top steel producers globally. It mainly produces flat steel and stainless steel from its two integrated steel facilities. It is exposed to the auto, shipbuilding, home appliance, engineering, and machinery industries. Posco controls around 40% of South Korean domestic market share and exports around 45%-50% of its steel products overseas, mainly to Asian countries. Through diversification, around 15%-20% of its revenue comes from non-steel and non-trading-related businesses.

POSCO Holdings Headlines

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)