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K Laser Technology (TPE:2461) Piotroski F-Score : 5 (As of Dec. 14, 2024)


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What is K Laser Technology Piotroski F-Score?

The zones of discrimination were as such:

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

K Laser Technology has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for K Laser Technology's Piotroski F-Score or its related term are showing as below:

TPE:2461' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 9
Current: 5

During the past 13 years, the highest Piotroski F-Score of K Laser Technology was 9. The lowest was 2. And the median was 5.


K Laser Technology Piotroski F-Score Historical Data

The historical data trend for K Laser Technology'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.

K Laser Technology Piotroski F-Score Chart

K Laser Technology 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 6.00 9.00 5.00 5.00 5.00

K Laser Technology Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
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 5.00 5.00 5.00 5.00 5.00

Competitive Comparison of K Laser Technology's Piotroski F-Score

For the Packaging & Containers subindustry, K Laser Technology'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.


K Laser Technology's Piotroski F-Score Distribution in the Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, K Laser Technology's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where K Laser Technology'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 (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was -25.145 + 16.141 + 245.77 + 36.972 = NT$274 Mil.
Cash Flow from Operations was 90.586 + -151.708 + 0.106 + 257.029 = NT$196 Mil.
Revenue was 1479.408 + 1426.377 + 1356.597 + 1371.577 = NT$5,634 Mil.
Gross Profit was 286.949 + 299.339 + 317.73 + 330.683 = NT$1,235 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(7916.509 + 7990.018 + 8081.539 + 7166.799 + 7331.038) / 5 = NT$7697.1806 Mil.
Total Assets at the begining of this year (Sep23) was NT$7,917 Mil.
Long-Term Debt & Capital Lease Obligation was NT$1,369 Mil.
Total Current Assets was NT$3,979 Mil.
Total Current Liabilities was NT$1,799 Mil.
Net Income was 59.43 + 52.137 + 35.19 + 41.916 = NT$189 Mil.

Revenue was 1546.178 + 1383.255 + 1379.72 + 1436.805 = NT$5,746 Mil.
Gross Profit was 272.101 + 304.186 + 298.293 + 319.565 = NT$1,194 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(8055.03 + 8136.11 + 8206.446 + 7909.96 + 7916.509) / 5 = NT$8044.811 Mil.
Total Assets at the begining of last year (Sep22) was NT$8,055 Mil.
Long-Term Debt & Capital Lease Obligation was NT$790 Mil.
Total Current Assets was NT$4,999 Mil.
Total Current Liabilities was NT$2,836 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.

K Laser Technology's current Net Income (TTM) was 274. ==> 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.

K Laser Technology's current Cash Flow from Operations (TTM) was 196. ==> 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 (Sep23)
=273.738/7916.509
=0.03457812

ROA (Last Year)=Net Income/Total Assets (Sep22)
=188.673/8055.03
=0.023423

K Laser Technology's return on assets of this year was 0.03457812. K Laser Technology's return on assets of last year was 0.023423. ==> 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.

K Laser Technology's current Net Income (TTM) was 274. K Laser Technology's current Cash Flow from Operations (TTM) was 196. ==> 196 <= 274 ==> 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: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=1368.986/7697.1806
=0.17785551

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=789.628/8044.811
=0.0981537

K Laser Technology's gearing of this year was 0.17785551. K Laser Technology's gearing of last year was 0.0981537. ==> Last year is lower than this year ==> Score 0.

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: Sep24)=Total Current Assets/Total Current Liabilities
=3978.584/1799.325
=2.21115363

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=4998.589/2836.298
=1.76236383

K Laser Technology's current ratio of this year was 2.21115363. K Laser Technology's current ratio of last year was 1.76236383. ==> This year's current ratio is higher. ==> Score 1.

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.

K Laser Technology's number of shares in issue this year was 194.589. K Laser Technology's number of shares in issue last year was 190.527. ==> 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
=1234.701/5633.959
=0.21915335

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1194.145/5745.958
=0.20782348

K Laser Technology's gross margin of this year was 0.21915335. K Laser Technology's gross margin of last year was 0.20782348. ==> 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 (Sep23)
=5633.959/7916.509
=0.71167215

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=5745.958/8055.03
=0.71333788

K Laser Technology's asset turnover of this year was 0.71167215. K Laser Technology's asset turnover of last year was 0.71333788. ==> 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+0+0+1+0+1+0
=5

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

K Laser Technology has an F-score of 5 indicating the company's financial situation is typical for a stable company.

K Laser Technology  (TPE:2461) 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.


K Laser Technology Piotroski F-Score Related Terms

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K Laser Technology Business Description

Traded in Other Exchanges
N/A
Address
No. 1, Li Hsin 6th Road, Science Based Industrial Park, Hsinchu, TWN
K Laser Technology Inc is engaged research and development, production, manufacturing , and sales of laser holographic packaging materials a s well as import and export trade of optical instruments. Its product offerings include holographic films, holographic paper products, and hot & cold foils ,lamination paper, transfer paper, The company's geographical segments are China, Other regions of Asia, and Others. It generates revenue from the manufacture of laser holographic films, laser anti-counterfeiting labels, laser papers, precision optical components and optical instruments and sales of optical instruments.

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