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Eastern Media International (TPE:2614) Piotroski F-Score : 3 (As of Dec. 15, 2024)


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What is Eastern Media International 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

Eastern Media International 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 Eastern Media International's Piotroski F-Score or its related term are showing as below:

TPE:2614' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 9
Current: 3

During the past 13 years, the highest Piotroski F-Score of Eastern Media International was 9. The lowest was 3. And the median was 5.


Eastern Media International Piotroski F-Score Historical Data

The historical data trend for Eastern Media International'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.

Eastern Media International Piotroski F-Score Chart

Eastern Media International 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 7.00 6.00 6.00 6.00

Eastern Media International 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 4.00 6.00 6.00 4.00 3.00

Competitive Comparison of Eastern Media International's Piotroski F-Score

For the Conglomerates subindustry, Eastern Media International'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.


Eastern Media International's Piotroski F-Score Distribution in the Conglomerates Industry

For the Conglomerates industry and Industrials sector, Eastern Media International's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Eastern Media International'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 -355.129 + 6.638 + 126.607 + 60.548 = NT$-161 Mil.
Cash Flow from Operations was 506.439 + 370.633 + 907.808 + 386.941 = NT$2,172 Mil.
Revenue was 1524.94 + 1435.35 + 1426.39 + 1391.836 = NT$5,779 Mil.
Gross Profit was 421.146 + 454.59 + 462.881 + 454.072 = NT$1,793 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(16142.408 + 17567.832 + 17555.296 + 17548.504 + 18655.72) / 5 = NT$17493.952 Mil.
Total Assets at the begining of this year (Sep23) was NT$16,142 Mil.
Long-Term Debt & Capital Lease Obligation was NT$9,402 Mil.
Total Current Assets was NT$4,045 Mil.
Total Current Liabilities was NT$4,283 Mil.
Net Income was -1765.33 + 51.98 + 53.638 + -23.254 = NT$-1,683 Mil.

Revenue was 1549.942 + 1394.41 + 1432.931 + 1489.317 = NT$5,867 Mil.
Gross Profit was 531.268 + 395.435 + 434.55 + 460.515 = NT$1,822 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(15833.837 + 15496.883 + 14978.719 + 15778.517 + 16142.408) / 5 = NT$15646.0728 Mil.
Total Assets at the begining of last year (Sep22) was NT$15,834 Mil.
Long-Term Debt & Capital Lease Obligation was NT$8,369 Mil.
Total Current Assets was NT$4,152 Mil.
Total Current Liabilities was NT$3,347 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.

Eastern Media International's current Net Income (TTM) was -161. ==> 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.

Eastern Media International's current Cash Flow from Operations (TTM) was 2,172. ==> 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)
=-161.336/16142.408
=-0.00999454

ROA (Last Year)=Net Income/Total Assets (Sep22)
=-1682.966/15833.837
=-0.10628921

Eastern Media International's return on assets of this year was -0.00999454. Eastern Media International's return on assets of last year was -0.10628921. ==> 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.

Eastern Media International's current Net Income (TTM) was -161. Eastern Media International's current Cash Flow from Operations (TTM) was 2,172. ==> 2,172 > -161 ==> 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: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=9401.879/17493.952
=0.53743597

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=8369.427/15646.0728
=0.5349219

Eastern Media International's gearing of this year was 0.53743597. Eastern Media International's gearing of last year was 0.5349219. ==> 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
=4045.199/4283.407
=0.94438819

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=4151.7/3346.761
=1.24051284

Eastern Media International's current ratio of this year was 0.94438819. Eastern Media International's current ratio of last year was 1.24051284. ==> 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.

Eastern Media International's number of shares in issue this year was 302.74. Eastern Media International's number of shares in issue last year was 290.675. ==> 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
=1792.689/5778.516
=0.31023346

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1821.768/5866.6
=0.31053217

Eastern Media International's gross margin of this year was 0.31023346. Eastern Media International's gross margin of last year was 0.31053217. ==> 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 (Sep23)
=5778.516/16142.408
=0.35797113

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=5866.6/15833.837
=0.37051032

Eastern Media International's asset turnover of this year was 0.35797113. Eastern Media International's asset turnover of last year was 0.37051032. ==> 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
=0+1+1+1+0+0+0+0+0
=3

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

Eastern Media International has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Eastern Media International  (TPE:2614) 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.


Eastern Media International Piotroski F-Score Related Terms

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Eastern Media International Business Description

Traded in Other Exchanges
N/A
Address
Fuxing South Road, 5th Floor, 8th Floor., No. 368, Section 1, Da\'an District, Taipei, TWN, 106
Eastern Media International Corp is mainly based on business diversification. In addition to land development, grain trading, and consumer product development and sales, the company has diversified into new businesses such as cross-strait trade platforms and multimedia shopping through its investment in subsidiaries. It engages in forwarding, loading, and unloading cargo onto/from ships, handling and operating wharf and transit shed facilities, selling pet food and supplies, providing pet beauty service, video advertising services, and the production of related shows.

Eastern Media International Headlines

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