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Maruzen CHI Holdings Co (TSE:3159) Piotroski F-Score : 7 (As of Dec. 12, 2024)


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What is Maruzen CHI Holdings 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

Maruzen CHI Holdings 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 Maruzen CHI Holdings Co's Piotroski F-Score or its related term are showing as below:

TSE:3159' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Maruzen CHI Holdings Co was 8. The lowest was 3. And the median was 5.


Maruzen CHI Holdings Co Piotroski F-Score Historical Data

The historical data trend for Maruzen CHI Holdings 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.

Maruzen CHI Holdings Co Piotroski F-Score Chart

Maruzen CHI Holdings Co Annual Data
Trend Jan15 Jan16 Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.00 6.00 8.00 7.00 7.00

Maruzen CHI Holdings Co Quarterly Data
Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24
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 - -

Competitive Comparison of Maruzen CHI Holdings Co's Piotroski F-Score

For the Specialty Retail subindustry, Maruzen CHI Holdings 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.


Maruzen CHI Holdings Co's Piotroski F-Score Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Maruzen CHI Holdings Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Maruzen CHI Holdings 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 (Jan24) TTM:Last Year (Jan23) TTM:
Net Income was 円2,194 Mil.
Cash Flow from Operations was 円5,690 Mil.
Revenue was 円162,927 Mil.
Gross Profit was 円40,172 Mil.
Average Total Assets from the begining of this year (Jan23)
to the end of this year (Jan24) was (128770 + 128896) / 2 = 円128833 Mil.
Total Assets at the begining of this year (Jan23) was 円128,770 Mil.
Long-Term Debt & Capital Lease Obligation was 円15,260 Mil.
Total Current Assets was 円93,098 Mil.
Total Current Liabilities was 円56,562 Mil.
Net Income was 円1,773 Mil.

Revenue was 円162,799 Mil.
Gross Profit was 円39,429 Mil.
Average Total Assets from the begining of last year (Jan22)
to the end of last year (Jan23) was (128357 + 128770) / 2 = 円128563.5 Mil.
Total Assets at the begining of last year (Jan22) was 円128,357 Mil.
Long-Term Debt & Capital Lease Obligation was 円14,591 Mil.
Total Current Assets was 円92,511 Mil.
Total Current Liabilities was 円58,050 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.

Maruzen CHI Holdings Co's current Net Income (TTM) was 2,194. ==> 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.

Maruzen CHI Holdings Co's current Cash Flow from Operations (TTM) was 5,690. ==> 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 (Jan23)
=2194/128770
=0.01703813

ROA (Last Year)=Net Income/Total Assets (Jan22)
=1773/128357
=0.01381304

Maruzen CHI Holdings Co's return on assets of this year was 0.01703813. Maruzen CHI Holdings Co's return on assets of last year was 0.01381304. ==> 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.

Maruzen CHI Holdings Co's current Net Income (TTM) was 2,194. Maruzen CHI Holdings Co's current Cash Flow from Operations (TTM) was 5,690. ==> 5,690 > 2,194 ==> 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: Jan24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jan23 to Jan24
=15260/128833
=0.11844791

Gearing (Last Year: Jan23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jan22 to Jan23
=14591/128563.5
=0.11349255

Maruzen CHI Holdings Co's gearing of this year was 0.11844791. Maruzen CHI Holdings Co's gearing of last year was 0.11349255. ==> 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: Jan24)=Total Current Assets/Total Current Liabilities
=93098/56562
=1.64594604

Current Ratio (Last Year: Jan23)=Total Current Assets/Total Current Liabilities
=92511/58050
=1.59364341

Maruzen CHI Holdings Co's current ratio of this year was 1.64594604. Maruzen CHI Holdings Co's current ratio of last year was 1.59364341. ==> 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.

Maruzen CHI Holdings Co's number of shares in issue this year was 92.546. Maruzen CHI Holdings Co's number of shares in issue last year was 92.547. ==> 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
=40172/162927
=0.24656441

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=39429/162799
=0.24219436

Maruzen CHI Holdings Co's gross margin of this year was 0.24656441. Maruzen CHI Holdings Co's gross margin of last year was 0.24219436. ==> 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 (Jan23)
=162927/128770
=1.26525588

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jan22)
=162799/128357
=1.26832974

Maruzen CHI Holdings Co's asset turnover of this year was 1.26525588. Maruzen CHI Holdings Co's asset turnover of last year was 1.26832974. ==> 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+1+0+1+1+1+0
=7

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

Maruzen CHI Holdings Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Maruzen CHI Holdings Co  (TSE:3159) 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.


Maruzen CHI Holdings Co Piotroski F-Score Related Terms

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Maruzen CHI Holdings Co Business Description

Traded in Other Exchanges
N/A
Address
Number 31- 2, Shinjuku-ku, Ichigayasanai town, Tokyo, JPN, 162-0846
Maruzen CHI Holdings Co Ltd is engaged in the sale of books and magazines and academic information. The company also undertakes library management consignment work and administrative agency of educational facilities such as libraries, design and supervision of construction work, the publishing business of books, and magazine.

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