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Asahi Intecc Co (TSE:7747) Piotroski F-Score : 4 (As of Apr. 25, 2024)


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What is Asahi Intecc Co Piotroski F-Score?

The zones of discrimination were as such:

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

Asahi Intecc Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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

TSE:7747' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 4   Max: 7
Current: 4

During the past 13 years, the highest Piotroski F-Score of Asahi Intecc Co was 7. The lowest was 1. And the median was 4.


Asahi Intecc Co Piotroski F-Score Historical Data

The historical data trend for Asahi Intecc 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.

Asahi Intecc Co Piotroski F-Score Chart

Asahi Intecc Co Annual Data
Trend Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 4.00 5.00 4.00 4.00

Asahi Intecc Co Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 - - 4.00 - -

Competitive Comparison of Asahi Intecc Co's Piotroski F-Score

For the Medical Instruments & Supplies subindustry, Asahi Intecc 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.


Asahi Intecc Co's Piotroski F-Score Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Asahi Intecc Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Asahi Intecc 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 (Jun23) TTM:Last Year (Jun22) TTM:
Net Income was 円13,106 Mil.
Cash Flow from Operations was 円19,138 Mil.
Revenue was 円90,101 Mil.
Gross Profit was 円58,832 Mil.
Average Total Assets from the begining of this year (Jun22)
to the end of this year (Jun23) was (155127 + 172644) / 2 = 円163885.5 Mil.
Total Assets at the begining of this year (Jun22) was 円155,127 Mil.
Long-Term Debt & Capital Lease Obligation was 円3,892 Mil.
Total Current Assets was 円90,261 Mil.
Total Current Liabilities was 円26,316 Mil.
Net Income was 円10,857 Mil.

Revenue was 円77,748 Mil.
Gross Profit was 円51,082 Mil.
Average Total Assets from the begining of last year (Jun21)
to the end of last year (Jun22) was (115427 + 155127) / 2 = 円135277 Mil.
Total Assets at the begining of last year (Jun21) was 円115,427 Mil.
Long-Term Debt & Capital Lease Obligation was 円6,364 Mil.
Total Current Assets was 円79,609 Mil.
Total Current Liabilities was 円20,761 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.

Asahi Intecc Co's current Net Income (TTM) was 13,106. ==> 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.

Asahi Intecc Co's current Cash Flow from Operations (TTM) was 19,138. ==> 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 (Jun22)
=13106/155127
=0.08448562

ROA (Last Year)=Net Income/Total Assets (Jun21)
=10857/115427
=0.09405945

Asahi Intecc Co's return on assets of this year was 0.08448562. Asahi Intecc Co's return on assets of last year was 0.09405945. ==> 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.

Asahi Intecc Co's current Net Income (TTM) was 13,106. Asahi Intecc Co's current Cash Flow from Operations (TTM) was 19,138. ==> 19,138 > 13,106 ==> 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: Jun23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun22 to Jun23
=3892/163885.5
=0.02374829

Gearing (Last Year: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=6364/135277
=0.04704421

Asahi Intecc Co's gearing of this year was 0.02374829. Asahi Intecc Co's gearing of last year was 0.04704421. ==> 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: Jun23)=Total Current Assets/Total Current Liabilities
=90261/26316
=3.42989056

Current Ratio (Last Year: Jun22)=Total Current Assets/Total Current Liabilities
=79609/20761
=3.83454554

Asahi Intecc Co's current ratio of this year was 3.42989056. Asahi Intecc Co's current ratio of last year was 3.83454554. ==> 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.

Asahi Intecc Co's number of shares in issue this year was 271.625. Asahi Intecc Co's number of shares in issue last year was 271.425. ==> 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
=58832/90101
=0.65295613

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=51082/77748
=0.65702012

Asahi Intecc Co's gross margin of this year was 0.65295613. Asahi Intecc Co's gross margin of last year was 0.65702012. ==> 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 (Jun22)
=90101/155127
=0.58082088

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun21)
=77748/115427
=0.67356858

Asahi Intecc Co's asset turnover of this year was 0.58082088. Asahi Intecc Co's asset turnover of last year was 0.67356858. ==> 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+1+1+0+0+0+0
=4

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

Asahi Intecc Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Asahi Intecc Co  (TSE:7747) 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.


Asahi Intecc Co Piotroski F-Score Related Terms

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Asahi Intecc Co (TSE:7747) Business Description

Traded in Other Exchanges
Address
1703 Wakita-cho, Nagoya, JPN
Asahi Intecc Co Ltd develops, manufactures, and sells medical devices. The firm operates in two segments: medical and device. The medical segment generates the vast majority of revenue and sells a range of guide wires and catheters for treatment and examination. The device segment sells components to medical and industrial companies, such as hollow cable tubes, catheter delivery systems, and stainless steel rope. Asahi's products are used in a variety of industries, including the medical, construction, automobile, office automation equipment, and electric appliance industries. Asahi generates the largest proportion of its revenue in Japan.

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