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Internetworking and Broadband Consulting Co (TSE:3920) Piotroski F-Score : 9 (As of Mar. 15, 2025)


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What is Internetworking and Broadband Consulting Co Piotroski F-Score?

Good Sign:

Piotroski F-Score is 9, 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

Internetworking and Broadband Consulting Co has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Internetworking and Broadband Consulting Co's Piotroski F-Score or its related term are showing as below:

TSE:3920' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 9
Current: 9

During the past 11 years, the highest Piotroski F-Score of Internetworking and Broadband Consulting Co was 9. The lowest was 3. And the median was 5.


Internetworking and Broadband Consulting Co Piotroski F-Score Historical Data

The historical data trend for Internetworking and Broadband Consulting 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.

Internetworking and Broadband Consulting Co Piotroski F-Score Chart

Internetworking and Broadband Consulting Co Annual Data
Trend Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 5.00 5.00 7.00 9.00

Internetworking and Broadband Consulting Co Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 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 - 7.00 - - 9.00

Competitive Comparison of Internetworking and Broadband Consulting Co's Piotroski F-Score

For the Information Technology Services subindustry, Internetworking and Broadband Consulting 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.


Internetworking and Broadband Consulting Co's Piotroski F-Score Distribution in the Software Industry

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

* The bar in red indicates where Internetworking and Broadband Consulting 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 (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was 円252 Mil.
Cash Flow from Operations was 円354 Mil.
Revenue was 円2,185 Mil.
Gross Profit was 円1,586 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was (3264.088 + 3329.495) / 2 = 円3296.7915 Mil.
Total Assets at the begining of this year (Sep23) was 円3,264 Mil.
Long-Term Debt & Capital Lease Obligation was 円1 Mil.
Total Current Assets was 円2,725 Mil.
Total Current Liabilities was 円1,336 Mil.
Net Income was 円70 Mil.

Revenue was 円1,901 Mil.
Gross Profit was 円1,336 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was (3255.762 + 3264.088) / 2 = 円3259.925 Mil.
Total Assets at the begining of last year (Sep22) was 円3,256 Mil.
Long-Term Debt & Capital Lease Obligation was 円52 Mil.
Total Current Assets was 円2,332 Mil.
Total Current Liabilities was 円1,379 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.

Internetworking and Broadband Consulting Co's current Net Income (TTM) was 252. ==> 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.

Internetworking and Broadband Consulting Co's current Cash Flow from Operations (TTM) was 354. ==> 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)
=251.575/3264.088
=0.0770736

ROA (Last Year)=Net Income/Total Assets (Sep22)
=70.369/3255.762
=0.02161368

Internetworking and Broadband Consulting Co's return on assets of this year was 0.0770736. Internetworking and Broadband Consulting Co's return on assets of last year was 0.02161368. ==> 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.

Internetworking and Broadband Consulting Co's current Net Income (TTM) was 252. Internetworking and Broadband Consulting Co's current Cash Flow from Operations (TTM) was 354. ==> 354 > 252 ==> 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
=1.491/3296.7915
=0.00045226

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=52.437/3259.925
=0.01608534

Internetworking and Broadband Consulting Co's gearing of this year was 0.00045226. Internetworking and Broadband Consulting Co's gearing of last year was 0.01608534. ==> 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: Sep24)=Total Current Assets/Total Current Liabilities
=2724.896/1336.217
=2.03926159

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=2332.486/1378.937
=1.6915102

Internetworking and Broadband Consulting Co's current ratio of this year was 2.03926159. Internetworking and Broadband Consulting Co's current ratio of last year was 1.6915102. ==> 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.

Internetworking and Broadband Consulting Co's number of shares in issue this year was 5.551. Internetworking and Broadband Consulting Co's number of shares in issue last year was 5.554. ==> 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
=1586.339/2184.658
=0.72612693

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1336.001/1900.885
=0.70283105

Internetworking and Broadband Consulting Co's gross margin of this year was 0.72612693. Internetworking and Broadband Consulting Co's gross margin of last year was 0.70283105. ==> 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 (Sep23)
=2184.658/3264.088
=0.6693012

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=1900.885/3255.762
=0.58385257

Internetworking and Broadband Consulting Co's asset turnover of this year was 0.6693012. Internetworking and Broadband Consulting Co's asset turnover of last year was 0.58385257. ==> 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+1+1
=9

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

Internetworking and Broadband Consulting Co has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

Internetworking and Broadband Consulting Co  (TSE:3920) 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.


Internetworking and Broadband Consulting Co Piotroski F-Score Related Terms

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Internetworking and Broadband Consulting Co Business Description

Traded in Other Exchanges
N/A
Address
Across Shinkawa Building 2nd Floor, 1-8-8, Shinkawa Chuo-ku, Tokyo, JPN, 104-0033
Internetworking and Broadband Consulting Co Ltd is engaged in the development of performance monitoring software for computers and network systems. It is also engaged in selling and maintenance of software and system performance consultancy and analysis. It provides performance evaluation of network system design and construction of network system design.

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