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Amuse (TSE:4301) Piotroski F-Score : 2 (As of Mar. 15, 2025)


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What is Amuse Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 2 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Amuse has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

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

TSE:4301' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 8
Current: 2

During the past 13 years, the highest Piotroski F-Score of Amuse was 8. The lowest was 2. And the median was 5.


Amuse Piotroski F-Score Historical Data

The historical data trend for Amuse'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.

Amuse Piotroski F-Score Chart

Amuse 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 3.00 3.00 6.00 6.00 2.00

Amuse 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 - - - 2.00 -

Competitive Comparison of Amuse's Piotroski F-Score

For the Entertainment subindustry, Amuse'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.


Amuse's Piotroski F-Score Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Amuse's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Amuse'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 (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was 円391 Mil.
Cash Flow from Operations was 円-313 Mil.
Revenue was 円54,813 Mil.
Gross Profit was 円7,619 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was (58294 + 58904) / 2 = 円58599 Mil.
Total Assets at the begining of this year (Mar23) was 円58,294 Mil.
Long-Term Debt & Capital Lease Obligation was 円282 Mil.
Total Current Assets was 円46,314 Mil.
Total Current Liabilities was 円19,459 Mil.
Net Income was 円1,692 Mil.

Revenue was 円52,497 Mil.
Gross Profit was 円8,748 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was (49313 + 58294) / 2 = 円53803.5 Mil.
Total Assets at the begining of last year (Mar22) was 円49,313 Mil.
Long-Term Debt & Capital Lease Obligation was 円209 Mil.
Total Current Assets was 円46,308 Mil.
Total Current Liabilities was 円18,974 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.

Amuse's current Net Income (TTM) was 391. ==> 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.

Amuse's current Cash Flow from Operations (TTM) was -313. ==> Negative ==> Score 0.

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)
=391/58294
=0.00670738

ROA (Last Year)=Net Income/Total Assets (Mar22)
=1692/49313
=0.03431144

Amuse's return on assets of this year was 0.00670738. Amuse's return on assets of last year was 0.03431144. ==> 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.

Amuse's current Net Income (TTM) was 391. Amuse's current Cash Flow from Operations (TTM) was -313. ==> -313 <= 391 ==> CFROA <= ROA ==> Score 0.

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
=282/58599
=0.00481237

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=209/53803.5
=0.00388451

Amuse's gearing of this year was 0.00481237. Amuse's gearing of last year was 0.00388451. ==> 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
=46314/19459
=2.3800812

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=46308/18974
=2.44060293

Amuse's current ratio of this year was 2.3800812. Amuse's current ratio of last year was 2.44060293. ==> 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.

Amuse's number of shares in issue this year was 16.587. Amuse's number of shares in issue last year was 16.827. ==> 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
=7619/54813
=0.13899987

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=8748/52497
=0.16663809

Amuse's gross margin of this year was 0.13899987. Amuse's gross margin of last year was 0.16663809. ==> 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)
=54813/58294
=0.94028545

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=52497/49313
=1.06456715

Amuse's asset turnover of this year was 0.94028545. Amuse's asset turnover of last year was 1.06456715. ==> 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+0+0+0+0+0+1+0+0
=2

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

Amuse has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

Amuse  (TSE:4301) 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.


Amuse Piotroski F-Score Related Terms

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Amuse Business Description

Traded in Other Exchanges
N/A
Address
20-1 Sakuragaoka-cho, Shibuya-ku, Tokyo, JPN, 150-0031
Amuse Inc is a Japan based integrated entertainment group. It is involved in the businesses of artist management business, media visual business, contents business, place management business, and other businesses. In artist management business, the company is engaged in the production of concerts, stage performances of artists, planning and production of stage performances and events, management of fan clubs and sales of a variety of goods and products, television, radio and commercial appearances, and production and distribution of record masters and management of copyright. In media visual business, the company manages image-based entertainment, such as producing and distributing visual software such as TV shows and movies and producing and selling DVDs.

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