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Jess-Link Products Co (TPE:6197) Piotroski F-Score : 7 (As of Jun. 22, 2024)


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What is Jess-Link Products Co 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

Jess-Link Products Co 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 Jess-Link Products Co's Piotroski F-Score or its related term are showing as below:

TPE:6197' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 7   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Jess-Link Products Co was 8. The lowest was 5. And the median was 7.


Jess-Link Products Co Piotroski F-Score Historical Data

The historical data trend for Jess-Link Products Co'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.

Jess-Link Products Co Piotroski F-Score Chart

Jess-Link Products Co 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 8.00 5.00 7.00 6.00 7.00

Jess-Link Products Co Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 7.00 6.00 7.00 7.00

Competitive Comparison of Jess-Link Products Co's Piotroski F-Score

For the Computer Hardware subindustry, Jess-Link Products Co'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.


Jess-Link Products Co's Piotroski F-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Jess-Link Products Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Jess-Link Products Co'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 (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was 191.938 + 179.13 + 161.767 + 237.378 = NT$770 Mil.
Cash Flow from Operations was 70.884 + 192.651 + 249.26 + 378.368 = NT$891 Mil.
Revenue was 1063.732 + 1340 + 1473.025 + 1476.642 = NT$5,353 Mil.
Gross Profit was 295.806 + 418.615 + 464.228 + 487.658 = NT$1,666 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(4579.268 + 4656.59 + 5305.174 + 5354.039 + 5793.238) / 5 = NT$5137.6618 Mil.
Total Assets at the begining of this year (Mar23) was NT$4,579 Mil.
Long-Term Debt & Capital Lease Obligation was NT$70 Mil.
Total Current Assets was NT$4,081 Mil.
Total Current Liabilities was NT$2,164 Mil.
Net Income was 134.56 + 219.106 + 44.508 + 102.56 = NT$501 Mil.

Revenue was 1075.314 + 1155.535 + 1172.359 + 1085.378 = NT$4,489 Mil.
Gross Profit was 286.58 + 301.456 + 271.847 + 257.882 = NT$1,118 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(4514.887 + 4501.533 + 4688.327 + 4604.182 + 4579.268) / 5 = NT$4577.6394 Mil.
Total Assets at the begining of last year (Mar22) was NT$4,515 Mil.
Long-Term Debt & Capital Lease Obligation was NT$10 Mil.
Total Current Assets was NT$3,669 Mil.
Total Current Liabilities was NT$1,600 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.

Jess-Link Products Co's current Net Income (TTM) was 770. ==> 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.

Jess-Link Products Co's current Cash Flow from Operations (TTM) was 891. ==> 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 (Mar23)
=770.213/4579.268
=0.16819566

ROA (Last Year)=Net Income/Total Assets (Mar22)
=500.734/4514.887
=0.11090732

Jess-Link Products Co's return on assets of this year was 0.16819566. Jess-Link Products Co's return on assets of last year was 0.11090732. ==> 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.

Jess-Link Products Co's current Net Income (TTM) was 770. Jess-Link Products Co's current Cash Flow from Operations (TTM) was 891. ==> 891 > 770 ==> 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: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=69.643/5137.6618
=0.01355539

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=10.305/4577.6394
=0.00225116

Jess-Link Products Co's gearing of this year was 0.01355539. Jess-Link Products Co's gearing of last year was 0.00225116. ==> 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: Mar24)=Total Current Assets/Total Current Liabilities
=4080.836/2163.857
=1.88590836

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=3669.315/1600.115
=2.29315705

Jess-Link Products Co's current ratio of this year was 1.88590836. Jess-Link Products Co's current ratio of last year was 2.29315705. ==> 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.

Jess-Link Products Co's number of shares in issue this year was 122.819. Jess-Link Products Co's number of shares in issue last year was 123.373. ==> 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
=1666.307/5353.399
=0.3112615

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1117.765/4488.586
=0.24902386

Jess-Link Products Co's gross margin of this year was 0.3112615. Jess-Link Products Co's gross margin of last year was 0.24902386. ==> 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 (Mar23)
=5353.399/4579.268
=1.16905125

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=4488.586/4514.887
=0.99417461

Jess-Link Products Co's asset turnover of this year was 1.16905125. Jess-Link Products Co's asset turnover of last year was 0.99417461. ==> 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+0+0+1+1+1
=7

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

Jess-Link Products Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Jess-Link Products Co  (TPE:6197) 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.


Jess-Link Products Co Piotroski F-Score Related Terms

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Jess-Link Products Co (TPE:6197) Business Description

Traded in Other Exchanges
N/A
Address
9th Floor, No. 176 Jian 1st Road, Zhonghe District, Taipei, TWN, 235
Jess-Link Products Co Ltd is engaged in the trade and import and export of various computer software and hardware and its peripherals as well as electronic products and components, manufacture and wholesale of wireless communication equipment and apparatus, data storage and processing equipment, wired communication equipment and apparatus, and printers.

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