* 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.
Competitive Comparison of PT Astra Agro Lestari Tbk's Piotroski F-Score
For the Farm Products subindustry, PT Astra Agro Lestari Tbk'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.
PT Astra Agro Lestari Tbk's Piotroski F-Score Distribution in the Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, PT Astra Agro Lestari Tbk's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where PT Astra Agro Lestari Tbk'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.
*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.
PT Astra Agro Lestari Tbk's current Net Income (TTM) was 69.
==> 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.
PT Astra Agro Lestari Tbk's current Cash Flow from Operations (TTM) was 165.
==> 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.
PT Astra Agro Lestari Tbk's return on assets of this year was 0.03704425. PT Astra Agro Lestari Tbk's return on assets of last year was 0.05387036.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
PT Astra Agro Lestari Tbk's gearing of this year was 0.05758055. PT Astra Agro Lestari Tbk's gearing of last year was 0.12441541.
==> 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
PT Astra Agro Lestari Tbk's current ratio of this year was 1.83357887. PT Astra Agro Lestari Tbk's current ratio of last year was 3.6000092.
==> 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.
PT Astra Agro Lestari Tbk's number of shares in issue this year was 384.938. PT Astra Agro Lestari Tbk's number of shares in issue last year was 384.938.
==> 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.
PT Astra Agro Lestari Tbk's gross margin of this year was 0.13327609. PT Astra Agro Lestari Tbk's gross margin of last year was 0.17440174.
==> Last year's gross margin is higher ==> Score 0.
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
PT Astra Agro Lestari Tbk's asset turnover of this year was 0.73029681. PT Astra Agro Lestari Tbk's asset turnover of last year was 0.68326461.
==> 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
+
0
+
1
+
1
+
0
+
1
+
0
+
1
=
6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
PT Astra Agro Lestari Tbk has an F-score of 6 indicating the company's financial situation is typical for a stable company.
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.
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.
PT Astra Agro Lestari Tbk Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of PT Astra Agro Lestari Tbk's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
PT Astra Agro Lestari Tbk cultivates oil palm plantations and operates several oil palm mills and refineries in Southeast Asia. The company produces crude palm oil and palm kernel oil from its own plantations. Additionally, it purchases products harvested from oil palm trees from smaller third parties in communities surrounding its own plantations. The oils and products harvested are shipped to oil mills and refineries as the company can generate multiple uses from a single plant. Astra Agro Lestari has established marketing offices to help export its refined product to various regions located throughout Asia. It has implemented mechanization, automation, and a water management system to streamline processes and enhance efficiency.
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