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DWANGO Co., (TSE:3715) Piotroski F-Score : 7 (As of May. 16, 2024)


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What is DWANGO Co., Piotroski F-Score?

Good Sign:

Piotroski F-Score of 7 is 7, indicating 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

DWANGO 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 DWANGO Co.,'s Piotroski F-Score or its related term are showing as below:

TSE:3715' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 9
Current: 7

During the past 6 years, the highest Piotroski F-Score of DWANGO Co., was 9. The lowest was 3. And the median was 6.


DWANGO Co., Piotroski F-Score Historical Data

The historical data trend for DWANGO 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.

DWANGO Co., Piotroski F-Score Chart

DWANGO Co., Annual Data
Trend Sep08 Sep09 Sep10 Sep11 Sep12 Sep13
Piotroski F-Score
Get a 7-Day Free Trial - - - 4.00 9.00

DWANGO Co., Quarterly Data
Sep09 Dec09 Mar10 Jun10 Sep10 Dec10 Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14
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 8.00 9.00 7.00 8.00 7.00

Competitive Comparison of DWANGO Co.,'s Piotroski F-Score

For the Information Technology Services subindustry, DWANGO 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.


DWANGO Co.,'s Piotroski F-Score Distribution in the Software Industry

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

* The bar in red indicates where DWANGO 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 (Jun14) TTM:Last Year (Jun13) TTM:
Net Income was 288.25 + 1356.352 + 583.425 + 364.892 = 円2,593 Mil.
Cash Flow from Operations was 2309.233 + 1814.967 + 399.819 + 921.335 = 円5,445 Mil.
Revenue was 9390.659 + 9619.227 + 10817.436 + 9994.667 = 円39,822 Mil.
Gross Profit was 3953.119 + 4677.277 + 4838.37 + 4330.737 = 円17,800 Mil.
Average Total Assets from the begining of this year (Jun13)
to the end of this year (Jun14) was
(26278.505 + 28853.586 + 30223.879 + 31586.824 + 32558.859) / 5 = 円29900.3306 Mil.
Total Assets at the begining of this year (Jun13) was 円26,279 Mil.
Long-Term Debt & Capital Lease Obligation was 円1,550 Mil.
Total Current Assets was 円21,735 Mil.
Total Current Liabilities was 円7,841 Mil.
Net Income was -281.525 + 725.62 + 723.979 + 556.951 = 円1,725 Mil.

Revenue was 9327.09 + 8586.512 + 8787.174 + 9181.659 = 円35,882 Mil.
Gross Profit was 3667.11 + 3995.71 + 4184.491 + 3379.733 = 円15,227 Mil.
Average Total Assets from the begining of last year (Jun12)
to the end of last year (Jun13) was
(27038.966 + 24653.007 + 24733.116 + 25999.783 + 26278.505) / 5 = 円25740.6754 Mil.
Total Assets at the begining of last year (Jun12) was 円27,039 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Total Current Assets was 円15,924 Mil.
Total Current Liabilities was 円5,528 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.

DWANGO Co.,'s current Net Income (TTM) was 2,593. ==> 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.

DWANGO Co.,'s current Cash Flow from Operations (TTM) was 5,445. ==> 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 (Jun13)
=2592.919/26278.505
=0.09867072

ROA (Last Year)=Net Income/Total Assets (Jun12)
=1725.025/27038.966
=0.06379774

DWANGO Co.,'s return on assets of this year was 0.09867072. DWANGO Co.,'s return on assets of last year was 0.06379774. ==> 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.

DWANGO Co.,'s current Net Income (TTM) was 2,593. DWANGO Co.,'s current Cash Flow from Operations (TTM) was 5,445. ==> 5,445 > 2,593 ==> 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: Jun14)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun13 to Jun14
=1550/29900.3306
=0.05183889

Gearing (Last Year: Jun13)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun12 to Jun13
=0/25740.6754
=0

DWANGO Co.,'s gearing of this year was 0.05183889. DWANGO Co.,'s gearing of last year was 0. ==> 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: Jun14)=Total Current Assets/Total Current Liabilities
=21734.623/7841.415
=2.77177308

Current Ratio (Last Year: Jun13)=Total Current Assets/Total Current Liabilities
=15924.091/5528.075
=2.88058519

DWANGO Co.,'s current ratio of this year was 2.77177308. DWANGO Co.,'s current ratio of last year was 2.88058519. ==> 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.

DWANGO Co.,'s number of shares in issue this year was 40.742. DWANGO Co.,'s number of shares in issue last year was 40.802. ==> 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
=17799.503/39821.989
=0.44697674

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=15227.044/35882.435
=0.42435927

DWANGO Co.,'s gross margin of this year was 0.44697674. DWANGO Co.,'s gross margin of last year was 0.42435927. ==> 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 (Jun13)
=39821.989/26278.505
=1.51538259

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun12)
=35882.435/27038.966
=1.32706388

DWANGO Co.,'s asset turnover of this year was 1.51538259. DWANGO Co.,'s asset turnover of last year was 1.32706388. ==> 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

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

DWANGO Co.,  (TSE:3715) 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.


DWANGO Co., Piotroski F-Score Related Terms

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DWANGO Co., (TSE:3715) Business Description

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Address
DWANGO Co., Ltd. provides Internet content through cellular phones. The Company also plans, develops and manages network entertainment systems.

DWANGO Co., (TSE:3715) Headlines

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