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Emimen Co (TSE:9237) Piotroski F-Score : 6 (As of Jun. 25, 2024)


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What is Emimen 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

Emimen Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.

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

TSE:9237' s Piotroski F-Score Range Over the Past 10 Years
Min: 6   Med: 6   Max: 6
Current: 6

During the past 3 years, the highest Piotroski F-Score of Emimen Co was 6. The lowest was 6. And the median was 6.


Emimen Co Piotroski F-Score Historical Data

The historical data trend for Emimen 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.

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Emimen Co Piotroski F-Score Chart

Emimen Co Annual Data
Trend Oct21 Oct22 Oct23
Piotroski F-Score
N/A N/A 6.00

Emimen Co Semi-Annual Data
Oct21 Oct22 Oct23
Piotroski F-Score N/A N/A 6.00

Competitive Comparison of Emimen Co's Piotroski F-Score

For the Consulting Services subindustry, Emimen 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.


Emimen Co's Piotroski F-Score Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, Emimen Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Emimen 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 (Oct23) TTM:Last Year (Oct22) TTM:
Net Income was 円106.0 Mil.
Cash Flow from Operations was 円104.8 Mil.
Revenue was 円814.3 Mil.
Gross Profit was 円814.3 Mil.
Average Total Assets from the begining of this year (Oct22)
to the end of this year (Oct23) was (312.053 + 788.684) / 2 = 円550.3685 Mil.
Total Assets at the begining of this year (Oct22) was 円312.1 Mil.
Long-Term Debt & Capital Lease Obligation was 円113.2 Mil.
Total Current Assets was 円716.4 Mil.
Total Current Liabilities was 円202.6 Mil.
Net Income was 円35.0 Mil.

Revenue was 円609.7 Mil.
Gross Profit was 円609.7 Mil.
Average Total Assets from the begining of last year (Oct21)
to the end of last year (Oct22) was (271.418 + 312.053) / 2 = 円291.7355 Mil.
Total Assets at the begining of last year (Oct21) was 円271.4 Mil.
Long-Term Debt & Capital Lease Obligation was 円129.7 Mil.
Total Current Assets was 円269.3 Mil.
Total Current Liabilities was 円137.1 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.

Emimen Co's current Net Income (TTM) was 106.0. ==> 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.

Emimen Co's current Cash Flow from Operations (TTM) was 104.8. ==> 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 (Oct22)
=105.957/312.053
=0.33954809

ROA (Last Year)=Net Income/Total Assets (Oct21)
=35.021/271.418
=0.12902976

Emimen Co's return on assets of this year was 0.33954809. Emimen Co's return on assets of last year was 0.12902976. ==> 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.

Emimen Co's current Net Income (TTM) was 106.0. Emimen Co's current Cash Flow from Operations (TTM) was 104.8. ==> 104.8 <= 106.0 ==> 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: Oct23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Oct22 to Oct23
=113.212/550.3685
=0.20570218

Gearing (Last Year: Oct22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Oct21 to Oct22
=129.733/291.7355
=0.44469391

Emimen Co's gearing of this year was 0.20570218. Emimen Co's gearing of last year was 0.44469391. ==> 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: Oct23)=Total Current Assets/Total Current Liabilities
=716.428/202.632
=3.53561135

Current Ratio (Last Year: Oct22)=Total Current Assets/Total Current Liabilities
=269.329/137.083
=1.96471481

Emimen Co's current ratio of this year was 3.53561135. Emimen Co's current ratio of last year was 1.96471481. ==> 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.

Emimen Co's number of shares in issue this year was 1.699. Emimen Co's number of shares in issue last year was 1.66. ==> 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
=814.286/814.286
=1

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=609.702/609.702
=1

Emimen Co's gross margin of this year was 1. Emimen Co's gross margin of last year was 1. ==> 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 (Oct22)
=814.286/312.053
=2.60944775

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Oct21)
=609.702/271.418
=2.24635802

Emimen Co's asset turnover of this year was 2.60944775. Emimen Co's asset turnover of last year was 2.24635802. ==> 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+0+1+1+0+0+1
=6

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

Emimen Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Emimen Co  (TSE:9237) 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.


Emimen Co Piotroski F-Score Related Terms

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Emimen Co (TSE:9237) Business Description

Traded in Other Exchanges
N/A
Address
1-8-33 Kyomachibori, 4th Floor Kyomachibori Square, Nishi-ku, Osaka, JPN, 550-0003
Emimen Co Ltd is engaged in the business of senior home introduction services and senior home management consulting. It is a professional in selecting senior homes, providing paid nursing homes with nursing care, residential-type paid nursing homes, and elderly care homes with services, depending on the thoughts and circumstances of the caregiving family. It helps to find a suitable place to live from among a wide variety of options, including residential housing and group homes.

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