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R.C. Core Co (TSE:7837) Piotroski F-Score : 4 (As of Dec. 15, 2024)


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What is R.C. Core 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

R.C. Core 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 R.C. Core Co's Piotroski F-Score or its related term are showing as below:

TSE:7837' 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 R.C. Core Co was 7. The lowest was 1. And the median was 4.


R.C. Core Co Piotroski F-Score Historical Data

The historical data trend for R.C. Core 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.

R.C. Core Co Piotroski F-Score Chart

R.C. Core Co 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 6.00 5.00 1.00 2.00 4.00

R.C. Core Co Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 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 - - - 4.00 -

Competitive Comparison of R.C. Core Co's Piotroski F-Score

For the Real Estate - Development subindustry, R.C. Core 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.


R.C. Core Co's Piotroski F-Score Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, R.C. Core Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where R.C. Core 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 (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was 円2,122 Mil.
Cash Flow from Operations was 円-269 Mil.
Revenue was 円12,143 Mil.
Gross Profit was 円3,275 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was (11195.476 + 7884.412) / 2 = 円9539.944 Mil.
Total Assets at the begining of this year (Mar23) was 円11,195 Mil.
Long-Term Debt & Capital Lease Obligation was 円812 Mil.
Total Current Assets was 円5,688 Mil.
Total Current Liabilities was 円3,172 Mil.
Net Income was 円-1,339 Mil.

Revenue was 円13,940 Mil.
Gross Profit was 円3,109 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was (12021.516 + 11195.476) / 2 = 円11608.496 Mil.
Total Assets at the begining of last year (Mar22) was 円12,022 Mil.
Long-Term Debt & Capital Lease Obligation was 円931 Mil.
Total Current Assets was 円5,638 Mil.
Total Current Liabilities was 円8,433 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.

R.C. Core Co's current Net Income (TTM) was 2,122. ==> 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.

R.C. Core Co's current Cash Flow from Operations (TTM) was -269. ==> Negative ==> Score 0.

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)
=2121.814/11195.476
=0.18952423

ROA (Last Year)=Net Income/Total Assets (Mar22)
=-1338.509/12021.516
=-0.11134278

R.C. Core Co's return on assets of this year was 0.18952423. R.C. Core Co's return on assets of last year was -0.11134278. ==> 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.

R.C. Core Co's current Net Income (TTM) was 2,122. R.C. Core Co's current Cash Flow from Operations (TTM) was -269. ==> -269 <= 2,122 ==> 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: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=812.466/9539.944
=0.08516465

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=930.578/11608.496
=0.08016353

R.C. Core Co's gearing of this year was 0.08516465. R.C. Core Co's gearing of last year was 0.08016353. ==> 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: Mar24)=Total Current Assets/Total Current Liabilities
=5688.054/3172.437
=1.79296043

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=5637.618/8433.484
=0.66848031

R.C. Core Co's current ratio of this year was 1.79296043. R.C. Core Co's current ratio of last year was 0.66848031. ==> 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.

R.C. Core Co's number of shares in issue this year was 4.23. R.C. Core Co's number of shares in issue last year was 4.221. ==> 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
=3274.908/12142.986
=0.26969544

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=3108.793/13940.1
=0.22301081

R.C. Core Co's gross margin of this year was 0.26969544. R.C. Core Co's gross margin of last year was 0.22301081. ==> 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)
=12142.986/11195.476
=1.08463329

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=13940.1/12021.516
=1.15959584

R.C. Core Co's asset turnover of this year was 1.08463329. R.C. Core Co's asset turnover of last year was 1.15959584. ==> 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+0+1+0+0+1+0+1+0
=4

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

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

R.C. Core Co  (TSE:7837) 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.


R.C. Core Co Piotroski F-Score Related Terms

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R.C. Core Co Business Description

Traded in Other Exchanges
N/A
Address
1-4-5 Aobadai, Meguro-ku, Tokyo, JPN, 153-0042
R.C. Core Co Ltd is a real estate service provider in Japan. The company is engaged in planning, manufacturing, and sale of condominiums and residential areas. The firm also focuses on sales and management of villas.

R.C. Core Co Headlines

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