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Sanko Gosei (TSE:7888) Piotroski F-Score : 7 (As of Jun. 15, 2024)


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What is Sanko Gosei 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

Sanko Gosei 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 Sanko Gosei's Piotroski F-Score or its related term are showing as below:

TSE:7888' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 4   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Sanko Gosei was 8. The lowest was 2. And the median was 4.


Sanko Gosei Piotroski F-Score Historical Data

The historical data trend for Sanko Gosei'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.

Sanko Gosei Piotroski F-Score Chart

Sanko Gosei Annual Data
Trend May14 May15 May16 May17 May18 May19 May20 May21 May22 May23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 3.00 8.00 8.00 7.00

Sanko Gosei Quarterly Data
May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24
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 - 7.00 - - -

Competitive Comparison of Sanko Gosei's Piotroski F-Score

For the Semiconductor Equipment & Materials subindustry, Sanko Gosei'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.


Sanko Gosei's Piotroski F-Score Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, Sanko Gosei's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Sanko Gosei'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 (May23) TTM:Last Year (May22) TTM:
Net Income was 円2,096 Mil.
Cash Flow from Operations was 円6,790 Mil.
Revenue was 円81,113 Mil.
Gross Profit was 円11,490 Mil.
Average Total Assets from the begining of this year (May22)
to the end of this year (May23) was (58409 + 65580) / 2 = 円61994.5 Mil.
Total Assets at the begining of this year (May22) was 円58,409 Mil.
Long-Term Debt & Capital Lease Obligation was 円10,714 Mil.
Total Current Assets was 円36,644 Mil.
Total Current Liabilities was 円27,710 Mil.
Net Income was 円1,811 Mil.

Revenue was 円65,661 Mil.
Gross Profit was 円9,704 Mil.
Average Total Assets from the begining of last year (May21)
to the end of last year (May22) was (56633 + 58409) / 2 = 円57521 Mil.
Total Assets at the begining of last year (May21) was 円56,633 Mil.
Long-Term Debt & Capital Lease Obligation was 円10,702 Mil.
Total Current Assets was 円30,721 Mil.
Total Current Liabilities was 円23,141 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.

Sanko Gosei's current Net Income (TTM) was 2,096. ==> 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.

Sanko Gosei's current Cash Flow from Operations (TTM) was 6,790. ==> 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 (May22)
=2096/58409
=0.03588488

ROA (Last Year)=Net Income/Total Assets (May21)
=1811/56633
=0.03197782

Sanko Gosei's return on assets of this year was 0.03588488. Sanko Gosei's return on assets of last year was 0.03197782. ==> 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.

Sanko Gosei's current Net Income (TTM) was 2,096. Sanko Gosei's current Cash Flow from Operations (TTM) was 6,790. ==> 6,790 > 2,096 ==> 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: May23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from May22 to May23
=10714/61994.5
=0.17282178

Gearing (Last Year: May22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from May21 to May22
=10702/57521
=0.18605379

Sanko Gosei's gearing of this year was 0.17282178. Sanko Gosei's gearing of last year was 0.18605379. ==> 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: May23)=Total Current Assets/Total Current Liabilities
=36644/27710
=1.32241068

Current Ratio (Last Year: May22)=Total Current Assets/Total Current Liabilities
=30721/23141
=1.32755715

Sanko Gosei's current ratio of this year was 1.32241068. Sanko Gosei's current ratio of last year was 1.32755715. ==> 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.

Sanko Gosei's number of shares in issue this year was 30.484. Sanko Gosei's number of shares in issue last year was 30.484. ==> 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
=11490/81113
=0.14165424

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=9704/65661
=0.1477894

Sanko Gosei's gross margin of this year was 0.14165424. Sanko Gosei's gross margin of last year was 0.1477894. ==> 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 (May22)
=81113/58409
=1.38870722

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (May21)
=65661/56633
=1.15941236

Sanko Gosei's asset turnover of this year was 1.38870722. Sanko Gosei's asset turnover of last year was 1.15941236. ==> 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+1+1+0+1+0+1
=7

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

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

Sanko Gosei  (TSE:7888) 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.


Sanko Gosei Piotroski F-Score Related Terms

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Sanko Gosei (TSE:7888) Business Description

Traded in Other Exchanges
N/A
Address
1200 Habushin, Toyama Prefecture, Nanto, JPN, 939-1698
Sanko Gosei Ltd is engaged in the molding and sales of plastic parts, production and assembly of mechanical/digital parts, design, production, and sales of molds for plastic molded parts, industrial products, industrial robots, and dispatching workers, among others.

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