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Ubicom Holdings (TSE:3937) Piotroski F-Score : 5 (As of Mar. 31, 2025)


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What is Ubicom Holdings Piotroski F-Score?

The zones of discrimination were as such:

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

Ubicom Holdings has an F-score of 5 indicating the company's financial situation is typical for a stable company.

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

TSE:3937' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 8
Current: 5

During the past 10 years, the highest Piotroski F-Score of Ubicom Holdings was 8. The lowest was 3. And the median was 5.


Ubicom Holdings Piotroski F-Score Historical Data

The historical data trend for Ubicom Holdings'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.

Ubicom Holdings Piotroski F-Score Chart

Ubicom Holdings Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 6.00 5.00 6.00 5.00

Ubicom Holdings 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 - - - 5.00 -

Competitive Comparison of Ubicom Holdings's Piotroski F-Score

For the Information Technology Services subindustry, Ubicom Holdings'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.


Ubicom Holdings's Piotroski F-Score Distribution in the Software Industry

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

* The bar in red indicates where Ubicom Holdings'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 (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was 円526 Mil.
Cash Flow from Operations was 円727 Mil.
Revenue was 円5,943 Mil.
Gross Profit was 円2,249 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was (5797.219 + 6883.815) / 2 = 円6340.517 Mil.
Total Assets at the begining of this year (Mar23) was 円5,797 Mil.
Long-Term Debt & Capital Lease Obligation was 円75 Mil.
Total Current Assets was 円5,660 Mil.
Total Current Liabilities was 円1,726 Mil.
Net Income was 円574 Mil.

Revenue was 円5,247 Mil.
Gross Profit was 円2,051 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was (5624.167 + 5797.219) / 2 = 円5710.693 Mil.
Total Assets at the begining of last year (Mar22) was 円5,624 Mil.
Long-Term Debt & Capital Lease Obligation was 円62 Mil.
Total Current Assets was 円4,838 Mil.
Total Current Liabilities was 円1,337 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.

Ubicom Holdings's current Net Income (TTM) was 526. ==> 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.

Ubicom Holdings's current Cash Flow from Operations (TTM) was 727. ==> 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)
=526.143/5797.219
=0.09075783

ROA (Last Year)=Net Income/Total Assets (Mar22)
=573.793/5624.167
=0.10202275

Ubicom Holdings's return on assets of this year was 0.09075783. Ubicom Holdings's return on assets of last year was 0.10202275. ==> Last year is higher ==> Score 0.

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.

Ubicom Holdings's current Net Income (TTM) was 526. Ubicom Holdings's current Cash Flow from Operations (TTM) was 727. ==> 727 > 526 ==> 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
=75.222/6340.517
=0.0118637

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=61.872/5710.693
=0.01083441

Ubicom Holdings's gearing of this year was 0.0118637. Ubicom Holdings's gearing of last year was 0.01083441. ==> 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
=5660.175/1725.958
=3.27943959

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=4838.148/1336.555
=3.6198645

Ubicom Holdings's current ratio of this year was 3.27943959. Ubicom Holdings's current ratio of last year was 3.6198645. ==> 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.

Ubicom Holdings's number of shares in issue this year was 11.917. Ubicom Holdings's number of shares in issue last year was 12.062. ==> 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
=2248.548/5942.642
=0.37837514

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2050.69/5246.671
=0.39085546

Ubicom Holdings's gross margin of this year was 0.37837514. Ubicom Holdings's gross margin of last year was 0.39085546. ==> 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 (Mar23)
=5942.642/5797.219
=1.02508496

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=5246.671/5624.167
=0.93287966

Ubicom Holdings's asset turnover of this year was 1.02508496. Ubicom Holdings's asset turnover of last year was 0.93287966. ==> 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+0+1+0+0+1+0+1
=5

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

Ubicom Holdings has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Ubicom Holdings  (TSE:3937) 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.


Ubicom Holdings Piotroski F-Score Related Terms

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Ubicom Holdings Business Description

Traded in Other Exchanges
N/A
Address
2-23-11 Koishikawa, 9th Floor, Joko Building, Bunkyo-ku, Tokyo, JPN, 112-0002
Ubicom Holdings Inc provides information technology services. The Company offers business application system development, embedded software development, quality assurance, system maintenance, and other services. The company operates through Global, Medical, and Enterprise Solutions divisions. The Global division offers software engineering services, including prototyping, design, development, testing, deployment, and maintenance; and automated software testing and mobile technology related services and solutions. The Medical division focuses on providing IT solutions and services to the medical industry. It offers Mighty Checker; Mighty Qube; Mighty SPD; and Mighty Trace. The Enterprise Solutions division offers mission-critical systems for Japanese banking and financial institutions.

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