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SCSK (TSE:9719) Piotroski F-Score : 5 (As of Dec. 16, 2024)


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What is SCSK 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

SCSK has an F-score of 5 indicating the company's financial situation is typical for a stable company.

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

TSE:9719' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 6   Max: 9
Current: 5

During the past 13 years, the highest Piotroski F-Score of SCSK was 9. The lowest was 5. And the median was 6.


SCSK Piotroski F-Score Historical Data

The historical data trend for SCSK'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.

SCSK Piotroski F-Score Chart

SCSK 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 5.00 8.00 7.00 7.00 7.00

SCSK Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 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 7.00 7.00 7.00 5.00 5.00

Competitive Comparison of SCSK's Piotroski F-Score

For the Information Technology Services subindustry, SCSK'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.


SCSK's Piotroski F-Score Distribution in the Software Industry

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

* The bar in red indicates where SCSK'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 (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was 9867 + 12126 + 9222 + 10015 = 円41,230 Mil.
Cash Flow from Operations was 9631 + 20214 + 16820 + 12652 = 円59,317 Mil.
Revenue was 120167 + 128944 + 122543 + 128980 = 円500,634 Mil.
Gross Profit was 31483 + 35264 + 31336 + 34533 = 円132,616 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(446042 + 438165 + 471400 + 0 + 484025) / 5 = 円459908 Mil.
Total Assets at the begining of this year (Sep23) was 円446,042 Mil.
Long-Term Debt & Capital Lease Obligation was 円60,284 Mil.
Total Current Assets was 円273,972 Mil.
Total Current Liabilities was 円99,440 Mil.
Net Income was 9267 + 11807 + 9007 + 9461 = 円39,542 Mil.

Revenue was 109924 + 122888 + 113371 + 117824 = 円464,007 Mil.
Gross Profit was 29013 + 33441 + 29819 + 31404 = 円123,677 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(401749 + 394724 + 435469 + 429609 + 446042) / 5 = 円421518.6 Mil.
Total Assets at the begining of last year (Sep22) was 円401,749 Mil.
Long-Term Debt & Capital Lease Obligation was 円57,584 Mil.
Total Current Assets was 円251,350 Mil.
Total Current Liabilities was 円94,494 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.

SCSK's current Net Income (TTM) was 41,230. ==> 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.

SCSK's current Cash Flow from Operations (TTM) was 59,317. ==> 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 (Sep23)
=41230/446042
=0.09243524

ROA (Last Year)=Net Income/Total Assets (Sep22)
=39542/401749
=0.09842464

SCSK's return on assets of this year was 0.09243524. SCSK's return on assets of last year was 0.09842464. ==> 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.

SCSK's current Net Income (TTM) was 41,230. SCSK's current Cash Flow from Operations (TTM) was 59,317. ==> 59,317 > 41,230 ==> 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: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=60284/459908
=0.13107839

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=57584/421518.6
=0.13661082

SCSK's gearing of this year was 0.13107839. SCSK's gearing of last year was 0.13661082. ==> 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: Sep24)=Total Current Assets/Total Current Liabilities
=273972/99440
=2.75514883

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=251350/94494
=2.65995725

SCSK's current ratio of this year was 2.75514883. SCSK's current ratio of last year was 2.65995725. ==> 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.

SCSK's number of shares in issue this year was 312.499. SCSK's number of shares in issue last year was 312.455. ==> 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
=132616/500634
=0.26489611

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=123677/464007
=0.26654124

SCSK's gross margin of this year was 0.26489611. SCSK's gross margin of last year was 0.26654124. ==> 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 (Sep23)
=500634/446042
=1.12239206

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=464007/401749
=1.15496741

SCSK's asset turnover of this year was 1.12239206. SCSK's asset turnover of last year was 1.15496741. ==> 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+1+0+0+0
=5

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

SCSK has an F-score of 5 indicating the company's financial situation is typical for a stable company.

SCSK  (TSE:9719) 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.


SCSK Piotroski F-Score Related Terms

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SCSK Business Description

Traded in Other Exchanges
Address
Toyosu Front, 3-2-20 Toyosu, Koto-ku, Tokyo, JPN, 135-8110
SCSK Corp is an information technology-based company in Japan. Its business involves the provision of IT infrastructure and solutions for applications in various markets. The IT Platform segment provides IT infrastructure construction-related services. Industrial Systems is concerned with infrastructure systems, information systems, and enterprise resource planning (ERP) solutions. The Financial Systems segment provides various systems for the bank and non-bank customers. The Business Solutions segment renders customer relationship management and business intelligence.

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