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Sumitomo Mitsui Financial Group Piotroski F-Score

: 7 (As of Today)
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Good Sign:

Piotroski F-Score is 7, indicating 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

Sumitomo Mitsui Financial 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 Sumitomo Mitsui Financial Group's Piotroski F-Score or its related term are showing as below:

SMFG' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Sumitomo Mitsui Financial Group was 8. The lowest was 1. And the median was 5.


Sumitomo Mitsui Financial Group Piotroski F-Score Historical Data

The historical data trend for Sumitomo Mitsui Financial 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.

* Premium members only.

Sumitomo Mitsui Financial Group Annual Data
Trend Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 6.00 5.00 4.00 7.00

Sumitomo Mitsui Financial Group 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 4.00 - - - 7.00

Competitive Comparison

For the Banks - Diversified subindustry, Sumitomo Mitsui Financial 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.

   

Sumitomo Mitsui Financial Group Piotroski F-Score Distribution

For the Banks industry and Financial Services sector, Sumitomo Mitsui Financial Group's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Sumitomo Mitsui Financial 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 (Mar22) TTM:Last Year (Mar21) TTM:
Net Income was $5,959 Mil.
Cash Flow from Operations was $13,033 Mil.
Revenue was $29,534 Mil.
Average Total Assets from the begining of this year (Mar21)
to the end of this year (Mar22) was (2231704.8439224 + 2173303.0493163) / 2 = $2202503.9466193 Mil.
Total Assets at the begining of this year (Mar21) was $2,231,705 Mil.
Long-Term Debt & Capital Lease Obligation was $245,646 Mil.
Total Assets was $2,173,303 Mil.
Total Liabilities was $2,070,439 Mil.
Net Income was $4,718 Mil.

Revenue was $29,131 Mil.
Average Total Assets from the begining of last year (Mar20)
to the end of last year (Mar21) was (2042064.0064346 + 2231704.8439224) / 2 = $2136884.4251785 Mil.
Total Assets at the begining of last year (Mar20) was $2,042,064 Mil.
Long-Term Debt & Capital Lease Obligation was $251,223 Mil.
Total Assets was $2,231,705 Mil.
Total Liabilities was $2,122,237 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.

Sumitomo Mitsui Financial Group's current Net Income (TTM) was 5,959. ==> 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.

Sumitomo Mitsui Financial Group's current Cash Flow from Operations (TTM) was 13,033. ==> 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)
=5959.2384383533/2231704.8439224
=0.00267026

ROA (Last Year)=Net Income/Total Assets (Mar20)
=4717.7207538977/2042064.0064346
=0.00231027

Sumitomo Mitsui Financial Group's return on assets of this year was 0.00267026. Sumitomo Mitsui Financial Group's return on assets of last year was 0.00231027. ==> 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.

Sumitomo Mitsui Financial Group's current Net Income (TTM) was 5,959. Sumitomo Mitsui Financial Group's current Cash Flow from Operations (TTM) was 13,033. ==> 13,033 > 5,959 ==> 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: Mar22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar21 to Mar22
=245646.27829586/2202503.9466193
=0.11153046

Gearing (Last Year: Mar21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar20 to Mar21
=251223.0644044/2136884.4251785
=0.11756512

Sumitomo Mitsui Financial Group's gearing of this year was 0.11153046. Sumitomo Mitsui Financial Group's gearing of last year was 0.11756512. ==> 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

* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.

Current Ratio (This Year: Mar22)=Total Assets/Total Liabilities
=2173303.0493163/2070439.18993
=1.04968214

Current Ratio (Last Year: Mar21)=Total Assets/Total Liabilities
=2231704.8439224/2122237.1206385
=1.05158129

Sumitomo Mitsui Financial Group's current ratio of this year was 1.04968214. Sumitomo Mitsui Financial Group's current ratio of last year was 1.05158129. ==> 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.

Sumitomo Mitsui Financial Group's number of shares in issue this year was 6856.49. Sumitomo Mitsui Financial Group's number of shares in issue last year was 6852.139. ==> 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.

* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.

Net Margin (This Year: TTM)=Net Income/Revenue
=5959.2384383533/29534.312609317
=0.20177339

Net Margin (Last Year: TTM)=Net Income/Revenue
=4717.7207538977/29131.087561903
=0.16194798

Sumitomo Mitsui Financial Group's net margin of this year was 0.20177339. Sumitomo Mitsui Financial Group's net margin of last year was 0.16194798. ==> This year's net 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)
=29534.312609317/2231704.8439224
=0.01323397

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar20)
=29131.087561903/2042064.0064346
=0.01426551

Sumitomo Mitsui Financial Group's asset turnover of this year was 0.01323397. Sumitomo Mitsui Financial Group's asset turnover of last year was 0.01426551. ==> 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+1+1+1+0+0+1+0
=6

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

Sumitomo Mitsui Financial Group has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Sumitomo Mitsui Financial Group  (NYSE:SMFG) 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.


Sumitomo Mitsui Financial Group Piotroski F-Score Related Terms

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Sumitomo Mitsui Financial Group Business Description

Sumitomo Mitsui Financial Group logo
Industry
Financial Services » Banks NAICS : 522110 SIC : 6029
Address
1-2, Marunouchi 1-chome, Chiyoda-ku, Tokyo, JPN, 100-0005
Sumitomo Mitsui Financial Group is roughly tied with Mizuho Financial Group for the status of Japan's second- largest bank after Mitsubishi UFJ Financial Group. As of March 2021, its market share of domestic loans was 7.0%, compared with 8.5% for MUFG. It has a larger consumer finance business than the other two megabanks, owning 100% of the Promise business and SMBC Card. It also controls one of Japan's largest leasing companies and SMBC Aviation Capital, one of the top five aircraft lessors globally. In securities, its SMBC Nikko unit is Japan's third- largest retail broker, although SMFG has lagged somewhat in institutional securities business and asset management, areas that it is working on strengthening.

Sumitomo Mitsui Financial Group Headlines

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