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Corby Spirit and Wine (TSX:CSW.A) Piotroski F-Score : 6 (As of Dec. 11, 2024)


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What is Corby Spirit and Wine 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

Corby Spirit and Wine 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 Corby Spirit and Wine's Piotroski F-Score or its related term are showing as below:

TSX:CSW.A' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 6   Max: 9
Current: 6

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


Corby Spirit and Wine Piotroski F-Score Historical Data

The historical data trend for Corby Spirit and Wine'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.

Corby Spirit and Wine Piotroski F-Score Chart

Corby Spirit and Wine Annual Data
Trend Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 7.00 5.00 6.00 5.00

Corby Spirit and Wine 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 5.00 5.00 5.00 5.00 6.00

Competitive Comparison of Corby Spirit and Wine's Piotroski F-Score

For the Beverages - Wineries & Distilleries subindustry, Corby Spirit and Wine'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.


Corby Spirit and Wine's Piotroski F-Score Distribution in the Beverages - Alcoholic Industry

For the Beverages - Alcoholic industry and Consumer Defensive sector, Corby Spirit and Wine's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Corby Spirit and Wine'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 7.307 + 4.291 + 4.788 + 9.299 = C$25.7 Mil.
Cash Flow from Operations was 25.981 + -6.506 + 16.862 + 3.655 = C$40.0 Mil.
Revenue was 56.029 + 48.471 + 66.518 + 65.114 = C$236.1 Mil.
Gross Profit was 28.701 + 25.839 + 32.455 + 32.948 = C$119.9 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(377.949 + 409.879 + 392.945 + 420.478 + 397.648) / 5 = C$399.7798 Mil.
Total Assets at the begining of this year (Sep23) was C$377.9 Mil.
Long-Term Debt & Capital Lease Obligation was C$115.5 Mil.
Total Current Assets was C$158.9 Mil.
Total Current Liabilities was C$55.1 Mil.
Net Income was 8.563 + 3.927 + 1.627 + 7.523 = C$21.6 Mil.

Revenue was 45.433 + 32.235 + 44.224 + 58.641 = C$180.5 Mil.
Gross Profit was 25.03 + 19.014 + 24.929 + 28.777 = C$97.8 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(245.837 + 256.332 + 242.568 + 362.601 + 377.949) / 5 = C$297.0574 Mil.
Total Assets at the begining of last year (Sep22) was C$245.8 Mil.
Long-Term Debt & Capital Lease Obligation was C$101.0 Mil.
Total Current Assets was C$143.4 Mil.
Total Current Liabilities was C$67.5 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.

Corby Spirit and Wine's current Net Income (TTM) was 25.7. ==> 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.

Corby Spirit and Wine's current Cash Flow from Operations (TTM) was 40.0. ==> 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)
=25.685/377.949
=0.0679589

ROA (Last Year)=Net Income/Total Assets (Sep22)
=21.64/245.837
=0.08802581

Corby Spirit and Wine's return on assets of this year was 0.0679589. Corby Spirit and Wine's return on assets of last year was 0.08802581. ==> 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.

Corby Spirit and Wine's current Net Income (TTM) was 25.7. Corby Spirit and Wine's current Cash Flow from Operations (TTM) was 40.0. ==> 40.0 > 25.7 ==> 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
=115.529/399.7798
=0.28898158

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=101.017/297.0574
=0.34005886

Corby Spirit and Wine's gearing of this year was 0.28898158. Corby Spirit and Wine's gearing of last year was 0.34005886. ==> 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
=158.909/55.059
=2.88615848

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=143.442/67.517
=2.1245316

Corby Spirit and Wine's current ratio of this year was 2.88615848. Corby Spirit and Wine's current ratio of last year was 2.1245316. ==> 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.

Corby Spirit and Wine's number of shares in issue this year was 28.469. Corby Spirit and Wine's number of shares in issue last year was 28.469. ==> 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
=119.943/236.132
=0.50794894

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=97.75/180.533
=0.54145226

Corby Spirit and Wine's gross margin of this year was 0.50794894. Corby Spirit and Wine's gross margin of last year was 0.54145226. ==> 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)
=236.132/377.949
=0.62477213

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=180.533/245.837
=0.73436057

Corby Spirit and Wine's asset turnover of this year was 0.62477213. Corby Spirit and Wine's asset turnover of last year was 0.73436057. ==> 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+1+0+0
=6

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

Corby Spirit and Wine has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Corby Spirit and Wine  (TSX:CSW.A) 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.


Corby Spirit and Wine Piotroski F-Score Related Terms

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Corby Spirit and Wine Business Description

Traded in Other Exchanges
Address
225 King Street West, Suite 1100, Toronto, ON, CAN, M5V 3M2
Corby Spirit and Wine Ltd is a Canadian manufacturer, marketer and importer of spirits and wines. The company derives its revenues from the sale of its owned-brands in Canada and other international markets, as well as earning commissions from the representation of selected non-owned brands in the Canadian marketplace. The company also supplements these primary sources of revenue with other ancillary activities incidental to its core business, such as logistics fees. The company has two reportable segments: Case Goods and Commissions. The Case Goods segment derives its revenue from the production and distribution of its owned beverage alcohol brands. The Commissions segment earns commission income from the representation of non-owned beverage alcohol brands in Canada.

Corby Spirit and Wine Headlines

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