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The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Poper Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Poper Co's Piotroski F-Score or its related term are showing as below:
During the past 5 years, the highest Piotroski F-Score of Poper Co was 6. The lowest was 6. And the median was 6.
The historical data trend for Poper 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.
Poper Co Annual Data | |||||||||||
Trend | Oct20 | Oct21 | Oct22 | Oct23 | Oct24 | ||||||
Piotroski F-Score | N/A | N/A | 6.00 | 6.00 | 6.00 |
Poper Co Quarterly Data | |||||||||||
Oct20 | Oct21 | Jul22 | Oct22 | Jan23 | Apr23 | Jul23 | Oct23 | Jan24 | Apr24 | Oct24 | |
Piotroski F-Score | Get a 7-Day Free Trial |
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- | 6.00 | - | - | 6.00 |
For the Software - Application subindustry, Poper 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.
For the Software industry and Technology sector, Poper Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Poper 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 (Oct24) TTM: | Last Year (Oct23) TTM: |
Net Income was 円83.7 Mil. Cash Flow from Operations was 円61.0 Mil. Revenue was 円1,071.1 Mil. Gross Profit was 円797.6 Mil. Average Total Assets from the begining of this year (Oct23) to the end of this year (Oct24) was (878.443 + 1070.585) / 2 = 円974.514 Mil. Total Assets at the begining of this year (Oct23) was 円878.4 Mil. Long-Term Debt & Capital Lease Obligation was 円106.3 Mil. Total Current Assets was 円853.2 Mil. Total Current Liabilities was 円240.9 Mil. |
Net Income was 円26.4 Mil. Revenue was 円829.2 Mil. Gross Profit was 円610.6 Mil. Average Total Assets from the begining of last year (Oct22) to the end of last year (Oct23) was (695.807 + 878.443) / 2 = 円787.125 Mil. Total Assets at the begining of last year (Oct22) was 円695.8 Mil. Long-Term Debt & Capital Lease Obligation was 円98.4 Mil. Total Current Assets was 円772.2 Mil. Total Current Liabilities was 円142.2 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.
Poper Co's current Net Income (TTM) was 83.7.
==> 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.
Poper Co's current Cash Flow from Operations (TTM) was 61.0.
==> 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 (Oct23) |
= | 83.661 | / | 878.443 | |
= | 0.09523782 |
ROA (Last Year) | = | Net Income | / | Total Assets (Oct22) |
= | 26.41 | / | 695.807 | |
= | 0.03795593 |
Poper Co's return on assets of this year was 0.09523782. Poper Co's return on assets of last year was 0.03795593.
==> 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.
Poper Co's current Net Income (TTM) was 83.7. Poper Co's current Cash Flow from Operations (TTM) was 61.0.
==> 61.0 <= 83.7 ==> 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: Oct24) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Oct23 to Oct24 |
= | 106.31 | / | 974.514 | |
= | 0.10909027 |
Gearing (Last Year: Oct23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Oct22 to Oct23 |
= | 98.403 | / | 787.125 | |
= | 0.12501572 |
Poper Co's gearing of this year was 0.10909027. Poper Co's gearing of last year was 0.12501572.
==> 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: Oct24) | = | Total Current Assets | / | Total Current Liabilities |
= | 853.248 | / | 240.885 | |
= | 3.54213836 |
Current Ratio (Last Year: Oct23) | = | Total Current Assets | / | Total Current Liabilities |
= | 772.192 | / | 142.214 | |
= | 5.42978891 |
Poper Co's current ratio of this year was 3.54213836. Poper Co's current ratio of last year was 5.42978891.
==> 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.
Poper Co's number of shares in issue this year was 4.009. Poper Co's number of shares in issue last year was 3.983.
==> There is larger number of shares in issue this year. ==> Score 0.
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 |
= | 797.592 | / | 1071.086 | |
= | 0.74465729 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 610.612 | / | 829.201 | |
= | 0.73638599 |
Poper Co's gross margin of this year was 0.74465729. Poper Co's gross margin of last year was 0.73638599.
==> 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 (Oct23) |
= | 1071.086 | / | 878.443 | |
= | 1.21930051 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Oct22) |
= | 829.201 | / | 695.807 | |
= | 1.19171121 |
Poper Co's asset turnover of this year was 1.21930051. Poper Co's asset turnover of last year was 1.19171121.
==> 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 | + | 0 | + | 1 | + | 0 | + | 0 | + | 1 | + | 1 | |
= | 6 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Poper Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Poper Co (TSE:5134) 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.
Thank you for viewing the detailed overview of Poper Co's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
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