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Yamaha Motor Co (TSE:7272) Piotroski F-Score : 3 (As of Dec. 14, 2024)


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What is Yamaha Motor Co Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 3 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

Yamaha Motor Co has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

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

TSE:7272' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 9
Current: 3

During the past 13 years, the highest Piotroski F-Score of Yamaha Motor Co was 9. The lowest was 3. And the median was 5.


Yamaha Motor Co Piotroski F-Score Historical Data

The historical data trend for Yamaha Motor 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.

Yamaha Motor Co Piotroski F-Score Chart

Yamaha Motor Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 4.00 7.00 7.00 5.00

Yamaha Motor Co Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 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 6.00 5.00 3.00 3.00 -

Competitive Comparison of Yamaha Motor Co's Piotroski F-Score

For the Auto Manufacturers subindustry, Yamaha Motor 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.


Yamaha Motor Co's Piotroski F-Score Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Yamaha Motor Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Yamaha Motor 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 (Jun24) TTM:Last Year (Jun23) TTM:
Net Income was 46013 + 14815 + 55973 + 57103 = 円173,904 Mil.
Cash Flow from Operations was 48508 + -19272 + -11963 + 111696 = 円128,969 Mil.
Revenue was 608808 + 579548 + 642065 + 706378 = 円2,536,799 Mil.
Gross Profit was 141875 + 172444 + 211168 + 229701 = 円755,188 Mil.
Average Total Assets from the begining of this year (Jun23)
to the end of this year (Jun24) was
(2476313 + 2526784 + 2571962 + 2799741 + 2805525) / 5 = 円2636065 Mil.
Total Assets at the begining of this year (Jun23) was 円2,476,313 Mil.
Long-Term Debt & Capital Lease Obligation was 円355,559 Mil.
Total Current Assets was 円1,624,712 Mil.
Total Current Liabilities was 円1,039,352 Mil.
Net Income was 50095 + 41366 + 49663 + 53628 = 円194,752 Mil.

Revenue was 608200 + 571329 + 606460 + 619942 = 円2,405,931 Mil.
Gross Profit was 176172 + 170330 + 199563 + 201467 = 円747,532 Mil.
Average Total Assets from the begining of last year (Jun22)
to the end of last year (Jun23) was
(2140263 + 2245360 + 2183291 + 2352156 + 2476313) / 5 = 円2279476.6 Mil.
Total Assets at the begining of last year (Jun22) was 円2,140,263 Mil.
Long-Term Debt & Capital Lease Obligation was 円276,010 Mil.
Total Current Assets was 円1,499,310 Mil.
Total Current Liabilities was 円900,174 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.

Yamaha Motor Co's current Net Income (TTM) was 173,904. ==> 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.

Yamaha Motor Co's current Cash Flow from Operations (TTM) was 128,969. ==> 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 (Jun23)
=173904/2476313
=0.07022699

ROA (Last Year)=Net Income/Total Assets (Jun22)
=194752/2140263
=0.09099442

Yamaha Motor Co's return on assets of this year was 0.07022699. Yamaha Motor Co's return on assets of last year was 0.09099442. ==> 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.

Yamaha Motor Co's current Net Income (TTM) was 173,904. Yamaha Motor Co's current Cash Flow from Operations (TTM) was 128,969. ==> 128,969 <= 173,904 ==> 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: Jun24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun23 to Jun24
=355559/2636065
=0.13488249

Gearing (Last Year: Jun23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun22 to Jun23
=276010/2279476.6
=0.12108481

Yamaha Motor Co's gearing of this year was 0.13488249. Yamaha Motor Co's gearing of last year was 0.12108481. ==> 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: Jun24)=Total Current Assets/Total Current Liabilities
=1624712/1039352
=1.56319707

Current Ratio (Last Year: Jun23)=Total Current Assets/Total Current Liabilities
=1499310/900174
=1.66557799

Yamaha Motor Co's current ratio of this year was 1.56319707. Yamaha Motor Co's current ratio of last year was 1.66557799. ==> 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.

Yamaha Motor Co's number of shares in issue this year was 984.811. Yamaha Motor Co's number of shares in issue last year was 1011.277. ==> 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
=755188/2536799
=0.29769327

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=747532/2405931
=0.31070384

Yamaha Motor Co's gross margin of this year was 0.29769327. Yamaha Motor Co's gross margin of last year was 0.31070384. ==> 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 (Jun23)
=2536799/2476313
=1.02442583

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun22)
=2405931/2140263
=1.12412867

Yamaha Motor Co's asset turnover of this year was 1.02442583. Yamaha Motor Co's asset turnover of last year was 1.12412867. ==> 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+0+0+0+0+1+0+0
=3

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

Yamaha Motor Co has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Yamaha Motor Co  (TSE:7272) 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.


Yamaha Motor Co Piotroski F-Score Related Terms

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Yamaha Motor Co Business Description

Traded in Other Exchanges
Address
2500, Shingai, Iwata, Shizuoka, JPN, 438-8501
Yamaha Motor Co Ltd is an automobile and electronics manufacturing company. The company is organised into five segments based on product type: motorcycles, marine products, power products, industrial machinery and robots, and other products. The motorcycles segment, contributing the majority of consolidated revenue, manufactures on- and off-road motorcycles, along with related motorcycle parts. Marine Products, the next-largest contributor to revenue, manufactures outboard motors, personal watercraft, and boats. Yamaha derives the majority of sales from Asia, with North America and Europe the next most significant markets.

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