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Pan Pacific International Holdings (Pan Pacific International Holdings) Piotroski F-Score : 7 (As of Apr. 26, 2024)


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What is Pan Pacific International Holdings Piotroski F-Score?

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

Pan Pacific International 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 Pan Pacific International Holdings's Piotroski F-Score or its related term are showing as below:

DQJCY' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Pan Pacific International Holdings was 8. The lowest was 3. And the median was 6.


Pan Pacific International Holdings Piotroski F-Score Historical Data

The historical data trend for Pan Pacific International 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.

Pan Pacific International Holdings Piotroski F-Score Chart

Pan Pacific International Holdings Annual Data
Trend Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 7.00 7.00 8.00 8.00

Pan Pacific International Holdings 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 Get a 7-Day Free Trial 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 8.00 8.00 7.00 7.00

Competitive Comparison of Pan Pacific International Holdings's Piotroski F-Score

For the Discount Stores subindustry, Pan Pacific International 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.


Pan Pacific International Holdings's Piotroski F-Score Distribution in the Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, Pan Pacific International Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Pan Pacific International 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 (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was 110.067 + 103.836 + 166.451 + 163.945 = $544 Mil.
Cash Flow from Operations was 5.162 + 241.168 + 277.426 + 424.575 = $948 Mil.
Revenue was 3581.772 + 3392.653 + 3445.02 + 3738.432 = $14,158 Mil.
Gross Profit was 1107.753 + 1060.449 + 1070.195 + 1199.932 = $4,438 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(10946.968 + 10751.861 + 10477.348 + 10088.958 + 10408.337) / 5 = $10534.6944 Mil.
Total Assets at the begining of this year (Dec22) was $10,947 Mil.
Long-Term Debt & Capital Lease Obligation was $3,108 Mil.
Total Current Assets was $3,794 Mil.
Total Current Liabilities was $3,159 Mil.
Net Income was 133.55 + 119.019 + 128.758 + 135.849 = $517 Mil.

Revenue was 3818.594 + 3439.791 + 3305.973 + 3741.287 = $14,306 Mil.
Gross Profit was 1117.009 + 1067.99 + 1006.928 + 1172.169 = $4,364 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(12481.356 + 11408.582 + 10328.892 + 9686.469 + 10946.968) / 5 = $10970.4534 Mil.
Total Assets at the begining of last year (Dec21) was $12,481 Mil.
Long-Term Debt & Capital Lease Obligation was $4,053 Mil.
Total Current Assets was $4,141 Mil.
Total Current Liabilities was $3,034 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.

Pan Pacific International Holdings's current Net Income (TTM) was 544. ==> 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.

Pan Pacific International Holdings's current Cash Flow from Operations (TTM) was 948. ==> 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 (Dec22)
=544.299/10946.968
=0.04972144

ROA (Last Year)=Net Income/Total Assets (Dec21)
=517.176/12481.356
=0.04143588

Pan Pacific International Holdings's return on assets of this year was 0.04972144. Pan Pacific International Holdings's return on assets of last year was 0.04143588. ==> 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.

Pan Pacific International Holdings's current Net Income (TTM) was 544. Pan Pacific International Holdings's current Cash Flow from Operations (TTM) was 948. ==> 948 > 544 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=3108.191/10534.6944
=0.2950433

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=4053.039/10970.4534
=0.36945045

Pan Pacific International Holdings's gearing of this year was 0.2950433. Pan Pacific International Holdings's gearing of last year was 0.36945045. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=3794.147/3158.948
=1.20107928

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=4141.28/3034.352
=1.36479881

Pan Pacific International Holdings's current ratio of this year was 1.20107928. Pan Pacific International Holdings's current ratio of last year was 1.36479881. ==> 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.

Pan Pacific International Holdings's number of shares in issue this year was 598.797. Pan Pacific International Holdings's number of shares in issue last year was 597.782. ==> 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
=4438.329/14157.877
=0.31348831

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=4364.096/14305.645
=0.30506111

Pan Pacific International Holdings's gross margin of this year was 0.31348831. Pan Pacific International Holdings's gross margin of last year was 0.30506111. ==> 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 (Dec22)
=14157.877/10946.968
=1.29331492

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=14305.645/12481.356
=1.14616112

Pan Pacific International Holdings's asset turnover of this year was 1.29331492. Pan Pacific International Holdings's asset turnover of last year was 1.14616112. ==> 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+0+0+1+1
=7

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

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

Pan Pacific International Holdings  (OTCPK:DQJCY) 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.


Pan Pacific International Holdings Piotroski F-Score Related Terms

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Pan Pacific International Holdings (Pan Pacific International Holdings) Business Description

Traded in Other Exchanges
Address
2-19-10 Aobadai, Meguro-ku, Tokyo, JPN, 153-0042
PPIH is a leading operator of discount stores and general merchandise stores primarily in Japan, operating 617 stores as of mid-2023 nationally. It offers a wide range of products from packaged food, cosmetics, and household products to consumer electronics. The primary store formats include the Don Quijote discount stores, Mega Donki format, and general merchandise stores operated under FamilyMart Uny. Overseas operations concentrate on North America and Southeast Asia. It has acquired small supermarket chains in Hawaii and California in the U.S. and also accelerated store expansion across Singapore and Hong Kong.

Pan Pacific International Holdings (Pan Pacific International Holdings) Headlines

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