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Mitsubishi Piotroski F-Score

: 9 (As of Today)
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Good Sign:

Piotroski F-Score is 9, 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

Mitsubishi has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

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

TSE:8058' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 9
Current: 9

During the past 13 years, the highest Piotroski F-Score of Mitsubishi was 9. The lowest was 4. And the median was 6.


Mitsubishi Piotroski F-Score Historical Data

The historical data trend for Mitsubishi'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.

Mitsubishi Annual Data
Trend Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.00 5.00 4.00 7.00 6.00

Mitsubishi Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Piotroski F-Score 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 Premium Member Only Premium Member Only Premium Member Only 6.00 6.00 6.00 6.00 9.00

Competitive Comparison

For the Conglomerates subindustry, Mitsubishi'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.

   

Mitsubishi Piotroski F-Score Distribution

For the Conglomerates industry and Industrials sector, Mitsubishi's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Mitsubishi'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 (Jun22) TTM:Last Year (Jun21) TTM:
Net Income was 172988 + 284208 + 292761 + 533951 = 円1,283,908 Mil.
Cash Flow from Operations was 230085 + 267584 + 433493 + 720122 = 円1,651,284 Mil.
Revenue was 3933005 + 4644403 + 4893690 + 5443439 = 円18,914,537 Mil.
Gross Profit was 456264 + 590117 + 682837 + 774712 = 円2,503,930 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(19145128 + 19542664 + 20513140 + 21912012 + 23026741) / 5 = 円20827937 Mil.
Total Assets at the begining of this year (Jun21) was 円19,145,128 Mil.
Long-Term Debt & Capital Lease Obligation was 円5,413,644 Mil.
Total Current Assets was 円10,094,720 Mil.
Total Current Liabilities was 円7,569,084 Mil.
Net Income was 50026 + 82459 + 3404 + 187572 = 円323,461 Mil.

Revenue was 3060912 + 3382189 + 3773985 + 3793730 = 円14,010,816 Mil.
Gross Profit was 381518 + 406195 + 437665 + 421546 = 円1,646,924 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(17801058 + 17798836 + 18552219 + 18634971 + 19145128) / 5 = 円18386442.4 Mil.
Total Assets at the begining of last year (Jun20) was 円17,801,058 Mil.
Long-Term Debt & Capital Lease Obligation was 円5,670,940 Mil.
Total Current Assets was 円7,420,748 Mil.
Total Current Liabilities was 円5,708,731 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.

Mitsubishi's current Net Income (TTM) was 1,283,908. ==> 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.

Mitsubishi's current Cash Flow from Operations (TTM) was 1,651,284. ==> 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 (Jun21)
=1283908/19145128
=0.06706187

ROA (Last Year)=Net Income/Total Assets (Jun20)
=323461/17801058
=0.01817089

Mitsubishi's return on assets of this year was 0.06706187. Mitsubishi's return on assets of last year was 0.01817089. ==> 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.

Mitsubishi's current Net Income (TTM) was 1,283,908. Mitsubishi's current Cash Flow from Operations (TTM) was 1,651,284. ==> 1,651,284 > 1,283,908 ==> 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: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=5413644/20827937
=0.25992224

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=5670940/18386442.4
=0.30843052

Mitsubishi's gearing of this year was 0.25992224. Mitsubishi's gearing of last year was 0.30843052. ==> 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: Jun22)=Total Current Assets/Total Current Liabilities
=10094720/7569084
=1.33367789

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=7420748/5708731
=1.29989449

Mitsubishi's current ratio of this year was 1.33367789. Mitsubishi's current ratio of last year was 1.29989449. ==> 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.

Mitsubishi's number of shares in issue this year was 1480.241. Mitsubishi's number of shares in issue last year was 1480.272. ==> 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
=2503930/18914537
=0.13238125

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1646924/14010816
=0.11754662

Mitsubishi's gross margin of this year was 0.13238125. Mitsubishi's gross margin of last year was 0.11754662. ==> 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 (Jun21)
=18914537/19145128
=0.98795563

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=14010816/17801058
=0.78707771

Mitsubishi's asset turnover of this year was 0.98795563. Mitsubishi's asset turnover of last year was 0.78707771. ==> 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+1+1+1+1
=9

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

Mitsubishi has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

Mitsubishi  (TSE:8058) 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.


Mitsubishi Piotroski F-Score Related Terms

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Mitsubishi Business Description

Mitsubishi logo
Traded in Other Exchanges
Address
Mitsubishi Shoji Building 3-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo, JPN, 100-8086
Mitsubishi Corp is a conglomerate that operates businesses in various industries. Its operating segments include Natural Gas, Industrial materials, Petroleum & chemicals, Mineral resource, Industrial Infrastructure, Automotive, Food & Consumer Industry, Power Solution, and Urban Development.

Mitsubishi Headlines

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