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Mercuria Holdings Co (TSE:7347) Piotroski F-Score : 7 (As of Mar. 02, 2025)


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What is Mercuria Holdings Co 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

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

TSE:7347' s Piotroski F-Score Range Over the Past 10 Years
Min: 7   Med: 7   Max: 7
Current: 7

During the past 3 years, the highest Piotroski F-Score of Mercuria Holdings Co was 7. The lowest was 7. And the median was 7.


Mercuria Holdings Co Piotroski F-Score Historical Data

The historical data trend for Mercuria Holdings 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.

Mercuria Holdings Co Piotroski F-Score Chart

Mercuria Holdings Co Annual Data
Trend Dec21 Dec22 Dec23
Piotroski F-Score
N/A N/A 7.00

Mercuria Holdings Co Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - 7.00 - -

Competitive Comparison of Mercuria Holdings Co's Piotroski F-Score

For the Asset Management subindustry, Mercuria Holdings 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.


Mercuria Holdings Co's Piotroski F-Score Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Mercuria Holdings Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Mercuria Holdings 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 (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was 円1,055 Mil.
Cash Flow from Operations was 円1,242 Mil.
Revenue was 円5,842 Mil.
Gross Profit was 円4,033 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (19983.067 + 19655.351) / 2 = 円19819.209 Mil.
Total Assets at the begining of this year (Dec22) was 円19,983 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Total Current Assets was 円18,751 Mil.
Total Current Liabilities was 円755 Mil.
Net Income was 円1,563 Mil.

Revenue was 円4,598 Mil.
Gross Profit was 円4,395 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (18010.126 + 19983.067) / 2 = 円18996.5965 Mil.
Total Assets at the begining of last year (Dec21) was 円18,010 Mil.
Long-Term Debt & Capital Lease Obligation was 円614 Mil.
Total Current Assets was 円18,843 Mil.
Total Current Liabilities was 円1,181 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.

Mercuria Holdings Co's current Net Income (TTM) was 1,055. ==> 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.

Mercuria Holdings Co's current Cash Flow from Operations (TTM) was 1,242. ==> 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 (Dec22)
=1055.031/19983.067
=0.05279625

ROA (Last Year)=Net Income/Total Assets (Dec21)
=1562.581/18010.126
=0.08676125

Mercuria Holdings Co's return on assets of this year was 0.05279625. Mercuria Holdings Co's return on assets of last year was 0.08676125. ==> 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.

Mercuria Holdings Co's current Net Income (TTM) was 1,055. Mercuria Holdings Co's current Cash Flow from Operations (TTM) was 1,242. ==> 1,242 > 1,055 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=0/19819.209
=0

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=613.5/18996.5965
=0.03229526

Mercuria Holdings Co's gearing of this year was 0. Mercuria Holdings Co's gearing of last year was 0.03229526. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=18751.265/754.68
=24.84664361

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=18843.472/1180.839
=15.95769787

Mercuria Holdings Co's current ratio of this year was 24.84664361. Mercuria Holdings Co's current ratio of last year was 15.95769787. ==> This year's current ratio is higher. ==> Score 1.

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.

Mercuria Holdings Co's number of shares in issue this year was 19.592. Mercuria Holdings Co's number of shares in issue last year was 20.479. ==> 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
=4033.109/5842.006
=0.69036372

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=4394.885/4598.442
=0.95573349

Mercuria Holdings Co's gross margin of this year was 0.69036372. Mercuria Holdings Co's gross margin of last year was 0.95573349. ==> 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 (Dec22)
=5842.006/19983.067
=0.29234782

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=4598.442/18010.126
=0.25532537

Mercuria Holdings Co's asset turnover of this year was 0.29234782. Mercuria Holdings Co's asset turnover of last year was 0.25532537. ==> 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+1+1+1+0+1
=7

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

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

Mercuria Holdings Co  (TSE:7347) 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.


Mercuria Holdings Co Piotroski F-Score Related Terms

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Mercuria Holdings Co Business Description

Traded in Other Exchanges
N/A
Address
1-3-3, Uchisaiwaicho, Uchisaiwaicho Daibiru Building, 6th Floor, Chiyoda-ku, Tokyo, JPN, 100-0011
Mercuria Holdings Co Ltd provides investment advisory and management.

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