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Flavor Full Foods (ROCO:1260) Piotroski F-Score : 3 (As of Apr. 07, 2025)


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What is Flavor Full Foods Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 3 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Flavor Full Foods has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

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

ROCO:1260' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 7
Current: 3

During the past 13 years, the highest Piotroski F-Score of Flavor Full Foods was 7. The lowest was 3. And the median was 5.


Flavor Full Foods Piotroski F-Score Historical Data

The historical data trend for Flavor Full Foods'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.

Flavor Full Foods Piotroski F-Score Chart

Flavor Full Foods Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 4.00 5.00 7.00 3.00

Flavor Full Foods Semi-Annual Data
Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24
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 - 7.00 - 3.00 -

Competitive Comparison of Flavor Full Foods's Piotroski F-Score

For the Farm Products subindustry, Flavor Full Foods'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.


Flavor Full Foods's Piotroski F-Score Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Flavor Full Foods's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Flavor Full Foods's Piotroski F-Score falls into.


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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 NT$204 Mil.
Cash Flow from Operations was NT$-165 Mil.
Revenue was NT$5,196 Mil.
Gross Profit was NT$778 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (4572.543 + 4973.656) / 2 = NT$4773.0995 Mil.
Total Assets at the begining of this year (Dec22) was NT$4,573 Mil.
Long-Term Debt & Capital Lease Obligation was NT$161 Mil.
Total Current Assets was NT$3,691 Mil.
Total Current Liabilities was NT$2,421 Mil.
Net Income was NT$266 Mil.

Revenue was NT$5,060 Mil.
Gross Profit was NT$792 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (4216.464 + 4572.543) / 2 = NT$4394.5035 Mil.
Total Assets at the begining of last year (Dec21) was NT$4,216 Mil.
Long-Term Debt & Capital Lease Obligation was NT$158 Mil.
Total Current Assets was NT$3,290 Mil.
Total Current Liabilities was NT$2,050 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.

Flavor Full Foods's current Net Income (TTM) was 204. ==> 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.

Flavor Full Foods's current Cash Flow from Operations (TTM) was -165. ==> 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 (Dec22)
=204.407/4572.543
=0.04470313

ROA (Last Year)=Net Income/Total Assets (Dec21)
=265.727/4216.464
=0.06302129

Flavor Full Foods's return on assets of this year was 0.04470313. Flavor Full Foods's return on assets of last year was 0.06302129. ==> Last year is higher ==> Score 0.

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.

Flavor Full Foods's current Net Income (TTM) was 204. Flavor Full Foods's current Cash Flow from Operations (TTM) was -165. ==> -165 <= 204 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=160.755/4773.0995
=0.03367937

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=158.154/4394.5035
=0.03598905

Flavor Full Foods's gearing of this year was 0.03367937. Flavor Full Foods's gearing of last year was 0.03598905. ==> 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
=3691.279/2420.887
=1.52476303

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=3289.596/2049.624
=1.60497535

Flavor Full Foods's current ratio of this year was 1.52476303. Flavor Full Foods's current ratio of last year was 1.60497535. ==> 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.

Flavor Full Foods's number of shares in issue this year was 102.502. Flavor Full Foods's number of shares in issue last year was 102.651. ==> 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
=777.761/5196.201
=0.14967877

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=791.633/5059.591
=0.15646186

Flavor Full Foods's gross margin of this year was 0.14967877. Flavor Full Foods's gross margin of last year was 0.15646186. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec22)
=5196.201/4572.543
=1.13639194

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=5059.591/4216.464
=1.19996068

Flavor Full Foods's asset turnover of this year was 1.13639194. Flavor Full Foods's asset turnover of last year was 1.19996068. ==> 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+0+0+0+1+0+1+0+0
=3

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

Flavor Full Foods has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Flavor Full Foods  (ROCO:1260) 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.


Flavor Full Foods Piotroski F-Score Related Terms

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Flavor Full Foods Business Description

Traded in Other Exchanges
N/A
Address
No. 102, Citizen Avenue, 11th Floor, Section 4, Da'an District, Taipei, TWN
Flavor Full Foods Inc is a manufacturer and exporter of sesame oil products. The company's products include pure sesame oil, blended sesame oil, sesame sauce, sesame spread, sesame powder, flavoured sesame seeds, and other sesame-related products.

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