/term/fscore/TSE:4901 FUJIFILM Holdings (TSE:4901) Piotroski F-Score
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FUJIFILM Holdings (TSE:4901) Piotroski F-Score : 7 (As of Jun. 20, 2024)


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What is FUJIFILM Holdings 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

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

TSE:4901' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 7   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of FUJIFILM Holdings was 8. The lowest was 5. And the median was 7.


FUJIFILM Holdings Piotroski F-Score Historical Data

The historical data trend for FUJIFILM 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.

FUJIFILM Holdings Piotroski F-Score Chart

FUJIFILM 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 7.00 5.00 7.00

FUJIFILM Holdings Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 5.00 4.00 6.00 7.00

Competitive Comparison of FUJIFILM Holdings's Piotroski F-Score

For the Conglomerates subindustry, FUJIFILM 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.


FUJIFILM Holdings's Piotroski F-Score Distribution in the Conglomerates Industry

For the Conglomerates industry and Industrials sector, FUJIFILM Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where FUJIFILM Holdings'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 54412 + 59148 + 60200 + 69749 = 円243,509 Mil.
Cash Flow from Operations was 74671 + 70750 + 96575 + 165945 = 円407,941 Mil.
Revenue was 660759 + 727711 + 766941 + 805505 = 円2,960,916 Mil.
Gross Profit was 263174 + 295213 + 316370 + 311503 = 円1,186,260 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(4134311 + 4374589 + 4526972 + 4549044 + 4783460) / 5 = 円4473675.2 Mil.
Total Assets at the begining of this year (Mar23) was 円4,134,311 Mil.
Long-Term Debt & Capital Lease Obligation was 円257,939 Mil.
Total Current Assets was 円1,574,628 Mil.
Total Current Liabilities was 円1,165,841 Mil.
Net Income was 41364 + 53799 + 58572 + 65687 = 円219,422 Mil.

Revenue was 625860 + 724071 + 744329 + 764781 = 円2,859,041 Mil.
Gross Profit was 254449 + 286265 + 301071 + 296143 = 円1,137,928 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(3955280 + 4246820 + 4286527 + 4148528 + 4134311) / 5 = 円4154293.2 Mil.
Total Assets at the begining of last year (Mar22) was 円3,955,280 Mil.
Long-Term Debt & Capital Lease Obligation was 円325,460 Mil.
Total Current Assets was 円1,631,107 Mil.
Total Current Liabilities was 円890,322 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.

FUJIFILM Holdings's current Net Income (TTM) was 243,509. ==> 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.

FUJIFILM Holdings's current Cash Flow from Operations (TTM) was 407,941. ==> 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)
=243509/4134311
=0.05889954

ROA (Last Year)=Net Income/Total Assets (Mar22)
=219422/3955280
=0.05547572

FUJIFILM Holdings's return on assets of this year was 0.05889954. FUJIFILM Holdings's return on assets of last year was 0.05547572. ==> 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.

FUJIFILM Holdings's current Net Income (TTM) was 243,509. FUJIFILM Holdings's current Cash Flow from Operations (TTM) was 407,941. ==> 407,941 > 243,509 ==> 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
=257939/4473675.2
=0.05765707

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=325460/4154293.2
=0.07834305

FUJIFILM Holdings's gearing of this year was 0.05765707. FUJIFILM Holdings's gearing of last year was 0.07834305. ==> 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: Mar24)=Total Current Assets/Total Current Liabilities
=1574628/1165841
=1.35063701

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=1631107/890322
=1.83204167

FUJIFILM Holdings's current ratio of this year was 1.35063701. FUJIFILM Holdings's current ratio of last year was 1.83204167. ==> 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.

FUJIFILM Holdings's number of shares in issue this year was 1204.068. FUJIFILM Holdings's number of shares in issue last year was 1204.111. ==> 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
=1186260/2960916
=0.40063953

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1137928/2859041
=0.39801038

FUJIFILM Holdings's gross margin of this year was 0.40063953. FUJIFILM Holdings's gross margin of last year was 0.39801038. ==> 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 (Mar23)
=2960916/4134311
=0.71618125

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=2859041/3955280
=0.72284162

FUJIFILM Holdings's asset turnover of this year was 0.71618125. FUJIFILM Holdings's asset turnover of last year was 0.72284162. ==> 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+1+0+1+1+0
=7

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

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

FUJIFILM Holdings  (TSE:4901) 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.


FUJIFILM Holdings Piotroski F-Score Related Terms

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FUJIFILM Holdings (TSE:4901) Business Description

Traded in Other Exchanges
Address
7-3, Akasaka 9-chome, Minato-ku, Tokyo, JPN, 107-0052
FUJIFILM Holdings Corp offers products and services used in photo development and film and photo taking processes. The company produces color films and single use cameras, color paper and chemicals, photofinishing equipment, film and photo processing services, electronic imaging such as digital cameras, optical devices such as camera modules for mobile phones, TV camera lenses and cine lenses, x-ray imaging systems and films, inkjet printers, flat panel materials, recording storage mediums such as data cartridges and videotape products, and office products such as office printers. The document solutions segment including office printers and the information solutions segment consisting of its x-ray imaging and data storage systems form most of the group's yearly revenue stream.

FUJIFILM Holdings (TSE:4901) Headlines

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