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Growth xPartners (TSE:244A) Piotroski F-Score : 8 (As of Apr. 01, 2025)


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What is Growth xPartners Piotroski F-Score?

Good Sign:

Piotroski F-Score is 8, 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

Growth xPartners has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

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

TSE:244A' s Piotroski F-Score Range Over the Past 10 Years
Min: 8   Med: 8   Max: 8
Current: 8

During the past 3 years, the highest Piotroski F-Score of Growth xPartners was 8. The lowest was 8. And the median was 8.


Growth xPartners Piotroski F-Score Historical Data

The historical data trend for Growth xPartners'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.

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Growth xPartners Piotroski F-Score Chart

Growth xPartners Annual Data
Trend Aug22 Aug23 Aug24
Piotroski F-Score
N/A N/A 8.00

Growth xPartners Semi-Annual Data
Aug22 Aug23 Aug24
Piotroski F-Score N/A N/A 8.00

Competitive Comparison of Growth xPartners's Piotroski F-Score

For the Information Technology Services subindustry, Growth xPartners'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.


Growth xPartners's Piotroski F-Score Distribution in the Software Industry

For the Software industry and Technology sector, Growth xPartners's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Growth xPartners'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 (Aug24) TTM:Last Year (Aug23) TTM:
Net Income was 円417 Mil.
Cash Flow from Operations was 円545 Mil.
Revenue was 円4,422 Mil.
Gross Profit was 円1,948 Mil.
Average Total Assets from the begining of this year (Aug23)
to the end of this year (Aug24) was (2955.197 + 3536.639) / 2 = 円3245.918 Mil.
Total Assets at the begining of this year (Aug23) was 円2,955 Mil.
Long-Term Debt & Capital Lease Obligation was 円269 Mil.
Total Current Assets was 円1,979 Mil.
Total Current Liabilities was 円1,332 Mil.
Net Income was 円279 Mil.

Revenue was 円3,736 Mil.
Gross Profit was 円1,648 Mil.
Average Total Assets from the begining of last year (Aug22)
to the end of last year (Aug23) was (3029.278 + 2955.197) / 2 = 円2992.2375 Mil.
Total Assets at the begining of last year (Aug22) was 円3,029 Mil.
Long-Term Debt & Capital Lease Obligation was 円341 Mil.
Total Current Assets was 円1,463 Mil.
Total Current Liabilities was 円1,137 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.

Growth xPartners's current Net Income (TTM) was 417. ==> 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.

Growth xPartners's current Cash Flow from Operations (TTM) was 545. ==> 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 (Aug23)
=417.459/2955.197
=0.14126266

ROA (Last Year)=Net Income/Total Assets (Aug22)
=279.025/3029.278
=0.09210941

Growth xPartners's return on assets of this year was 0.14126266. Growth xPartners's return on assets of last year was 0.09210941. ==> 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.

Growth xPartners's current Net Income (TTM) was 417. Growth xPartners's current Cash Flow from Operations (TTM) was 545. ==> 545 > 417 ==> 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: Aug24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Aug23 to Aug24
=268.823/3245.918
=0.08281879

Gearing (Last Year: Aug23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Aug22 to Aug23
=341.467/2992.2375
=0.11411761

Growth xPartners's gearing of this year was 0.08281879. Growth xPartners's gearing of last year was 0.11411761. ==> 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: Aug24)=Total Current Assets/Total Current Liabilities
=1978.913/1331.934
=1.48574404

Current Ratio (Last Year: Aug23)=Total Current Assets/Total Current Liabilities
=1462.533/1136.699
=1.28664932

Growth xPartners's current ratio of this year was 1.48574404. Growth xPartners's current ratio of last year was 1.28664932. ==> 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.

Growth xPartners's number of shares in issue this year was 2.713. Growth xPartners's number of shares in issue last year was 3.361. ==> 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
=1948.283/4422.114
=0.44057729

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1647.703/3736.293
=0.44099941

Growth xPartners's gross margin of this year was 0.44057729. Growth xPartners's gross margin of last year was 0.44099941. ==> 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 (Aug23)
=4422.114/2955.197
=1.49638552

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Aug22)
=3736.293/3029.278
=1.2333939

Growth xPartners's asset turnover of this year was 1.49638552. Growth xPartners's asset turnover of last year was 1.2333939. ==> 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+1+1+1+0+1
=8

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

Growth xPartners has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Growth xPartners  (TSE:244A) 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.


Growth xPartners Piotroski F-Score Related Terms

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Growth xPartners Business Description

Traded in Other Exchanges
N/A
Address
1-26-2 Nishi-Shinjuku, Shinjuku Nomura Building 48th floor, Shinjuku-ku, Tokyo, JPN, 163-0548
Growth xPartners Inc is engaged in digital Transformation (DX) consultation and advancement support for enterprises.

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