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Grupo AeromexicoB de CV Piotroski F-Score

: 6 (As of Today)
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The zones of discrimination were as such:

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

Grupo AeromexicoB de CV 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 Grupo AeromexicoB de CV's Piotroski F-Score or its related term are showing as below:

OTCPK:GRPAQ' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 4   Max: 6
Current: 6

2
6

During the past 13 years, the highest Piotroski F-Score of Grupo AeromexicoB de CV was 6. The lowest was 2. And the median was 4.


Grupo AeromexicoB de CV Piotroski F-Score Historical Data

The historical data trend for Grupo AeromexicoB 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.

Grupo AeromexicoB de CV Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 4.00 5.00 4.00 3.00

Grupo AeromexicoB de CV Quarterly Data
Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
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 3.00 3.00 2.00 4.00 6.00

Competitive Comparison

For the Airlines subindustry, Grupo AeromexicoB 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.

   

Grupo AeromexicoB de CV Piotroski F-Score Distribution

For the Transportation industry and Industrials sector, Grupo AeromexicoB de CV's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Grupo AeromexicoB 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 (Sep21) TTM:Last Year (Sep20) TTM:
Net Income was -486.82606560991 + -202.0105060241 + -139.76082550396 + -111.92865445149 = $-941 Mil.
Cash Flow from Operations was -169.2759163143 + -196.89773493976 + 125.49472328444 + 60.593382253905 = $-180 Mil.
Revenue was 359.19726057594 + 330.12110843373 + 499.85792306079 + 660.18766742658 = $1,849 Mil.
Gross Profit was 633.71199975952 + -160.35759036145 + -43.992282117076 + 40.770873137418 = $470 Mil.
Average Total Assets from the begining of this year (Sep20)
to the end of this year (Sep21) was
(4201.5069271004 + 4027.1609286387 + 4379.8773012048 + 4745.9461645217 + 4774.70964427) / 5 = $4425.84019315 Mil.
Total Assets at the begining of this year (Sep20) was $4,202 Mil.
Long-Term Debt & Capital Lease Obligation was $826 Mil.
Total Current Assets was $1,282 Mil.
Total Current Liabilities was $5,826 Mil.
Net Income was -2.9683181170952 + -112.0905333244 + -1229.3033993966 + -133.04118404713 = $-1,477 Mil.

Revenue was 901.65000209398 + 628.92356502893 + 116.90198996723 + 215.60695803114 = $1,863 Mil.
Gross Profit was 324.21198383449 + -29.838550394352 + -871.90452281581 + -186.75125684977 = $-764 Mil.
Average Total Assets from the begining of last year (Sep19)
to the end of last year (Sep20) was
(5284.5368598762 + 5286.6881124885 + 5436.8755725361 + 4273.4838099422 + 4201.5069271004) / 5 = $4896.61825639 Mil.
Total Assets at the begining of last year (Sep19) was $5,285 Mil.
Long-Term Debt & Capital Lease Obligation was $2,813 Mil.
Total Current Assets was $630 Mil.
Total Current Liabilities was $2,080 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.

Grupo AeromexicoB de CV's current Net Income (TTM) was -941. ==> Negative ==> Score 0.

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.

Grupo AeromexicoB de CV's current Cash Flow from Operations (TTM) was -180. ==> Negative ==> Score 0.

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 (Sep20)
=-940.52605158945/4201.5069271004
=-0.22385446

ROA (Last Year)=Net Income/Total Assets (Sep19)
=-1477.4034348852/5284.5368598762
=-0.27957103

Grupo AeromexicoB de CV's return on assets of this year was -0.22385446. Grupo AeromexicoB de CV's return on assets of last year was -0.27957103. ==> 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.

Grupo AeromexicoB de CV's current Net Income (TTM) was -941. Grupo AeromexicoB de CV's current Cash Flow from Operations (TTM) was -180. ==> -180 > -941 ==> 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: Sep21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep20 to Sep21
=825.9674949242/4425.84019315
=0.18662389

Gearing (Last Year: Sep20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep19 to Sep20
=2813.4639195247/4896.61825639
=0.57457285

Grupo AeromexicoB de CV's gearing of this year was 0.18662389. Grupo AeromexicoB de CV's gearing of last year was 0.57457285. ==> 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: Sep21)=Total Current Assets/Total Current Liabilities
=1282.2357466041/5825.6407979607
=0.2201021

Current Ratio (Last Year: Sep20)=Total Current Assets/Total Current Liabilities
=629.53733155443/2079.6667790022
=0.30271067

Grupo AeromexicoB de CV's current ratio of this year was 0.2201021. Grupo AeromexicoB de CV's current ratio of last year was 0.30271067. ==> 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.

Grupo AeromexicoB de CV's number of shares in issue this year was 682.12. Grupo AeromexicoB de CV's number of shares in issue last year was 682.12. ==> 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
=470.13300041842/1849.3639594971
=0.25421335

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=-764.28234622544/1863.0825151213
=-0.41022464

Grupo AeromexicoB de CV's gross margin of this year was 0.25421335. Grupo AeromexicoB de CV's gross margin of last year was -0.41022464. ==> 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 (Sep20)
=1849.3639594971/4201.5069271004
=0.44016682

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep19)
=1863.0825151213/5284.5368598762
=0.3525536

Grupo AeromexicoB de CV's asset turnover of this year was 0.44016682. Grupo AeromexicoB de CV's asset turnover of last year was 0.3525536. ==> 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
=0+0+1+1+1+0+1+1+1
=6

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

Grupo AeromexicoB de CV has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Grupo AeromexicoB de CV  (OTCPK:GRPAQ) 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.


Grupo AeromexicoB de CV Piotroski F-Score Related Terms

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Grupo AeromexicoB de CV Business Description

Grupo AeromexicoB de CV logo
Industry
Industrials » Transportation NAICS : 481111 SIC : 4512
Traded in Other Exchanges
Address
Paseo de la Reforma 445, Col. Cuauhtemoc, Mexico City, MEX, 06500
Grupo Aeroméxico SAB de CV is a leader in Mexican air transportation. Revenue is generated by transporting passengers and air cargo and providing additional amenities to improve travel experiences. The company has one reportable segment, air transportation, and reports revenues by geographic region. Mexico accounts for approximately half of total revenue, with North, Central, and South America comprising another material portion. Grupo Aeromexico is a member of a global alliance with other carriers to better assist customers and increase the number of destinations. Additionally, the company utilizes a joint Aeromexico-Delta maintenance and repair facility to maintain and enhance existing fleet.
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