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Montfort Capital (TSXV:MONT.PR.A.PFD) Piotroski F-Score : 1 (As of Dec. 14, 2024)


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What is Montfort Capital Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 1 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Montfort Capital has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

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

TSXV:MONT.PR.A.PFD' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 3   Max: 7
Current: 1

During the past 13 years, the highest Piotroski F-Score of Montfort Capital was 7. The lowest was 1. And the median was 3.


Montfort Capital Piotroski F-Score Historical Data

The historical data trend for Montfort Capital'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.

Montfort Capital Piotroski F-Score Chart

Montfort Capital Annual Data
Trend Nov14 Nov15 Nov16 Nov17 Nov18 Nov19 Nov20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.00 3.00 - 3.00 1.00

Montfort Capital Quarterly Data
Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 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 - 1.00 N/A 1.00 1.00

Competitive Comparison of Montfort Capital's Piotroski F-Score

For the Asset Management subindustry, Montfort Capital'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.


Montfort Capital's Piotroski F-Score Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Montfort Capital's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Montfort Capital'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 -5.468 + -2.165 + -3.253 + -2.317 = C$-13.20 Mil.
Cash Flow from Operations was -30.96 + -33.698 + -4.11 + -11.798 = C$-80.57 Mil.
Revenue was 12.146 + 11.974 + 11.343 + 12.582 = C$48.05 Mil.
Gross Profit was 12.146 + 11.974 + 11.343 + 12.582 = C$48.05 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(374.369 + 402.508 + 432.486 + 432.357 + 444.817) / 5 = C$417.3074 Mil.
Total Assets at the begining of this year (Sep23) was C$374.37 Mil.
Long-Term Debt & Capital Lease Obligation was C$52.89 Mil.
Total Current Assets was C$379.58 Mil.
Total Current Liabilities was C$361.46 Mil.
Net Income was 0.201 + -1.866 + -1.113 + -3.913 = C$-6.69 Mil.

Revenue was 13.858 + 13.053 + 13.3 + 12.967 = C$53.18 Mil.
Gross Profit was 13.858 + 13.053 + 13.3 + 12.967 = C$53.18 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(302.028 + 455.469 + 465.362 + 470.273 + 374.369) / 5 = C$413.5002 Mil.
Total Assets at the begining of last year (Sep22) was C$302.03 Mil.
Long-Term Debt & Capital Lease Obligation was C$17.15 Mil.
Total Current Assets was C$294.50 Mil.
Total Current Liabilities was C$310.53 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.

Montfort Capital's current Net Income (TTM) was -13.20. ==> Negative ==> Score 0.

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.

Montfort Capital's current Cash Flow from Operations (TTM) was -80.57. ==> Negative ==> Score 0.

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)
=-13.203/374.369
=-0.03526734

ROA (Last Year)=Net Income/Total Assets (Sep22)
=-6.691/302.028
=-0.02215358

Montfort Capital's return on assets of this year was -0.03526734. Montfort Capital's return on assets of last year was -0.02215358. ==> 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.

Montfort Capital's current Net Income (TTM) was -13.20. Montfort Capital's current Cash Flow from Operations (TTM) was -80.57. ==> -80.57 <= -13.20 ==> 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: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=52.887/417.3074
=0.12673391

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=17.152/413.5002
=0.04148003

Montfort Capital's gearing of this year was 0.12673391. Montfort Capital's gearing of last year was 0.04148003. ==> Last year is lower than this year ==> Score 0.

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
=379.577/361.46
=1.05012173

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=294.501/310.525
=0.94839707

Montfort Capital's current ratio of this year was 1.05012173. Montfort Capital's current ratio of last year was 0.94839707. ==> 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.

Montfort Capital's number of shares in issue this year was 0. Montfort Capital's number of shares in issue last year was 0. ==> 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
=48.045/48.045
=1

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=53.178/53.178
=1

Montfort Capital's gross margin of this year was 1. Montfort Capital'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 (Sep23)
=48.045/374.369
=0.12833595

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=53.178/302.028
=0.17606977

Montfort Capital's asset turnover of this year was 0.12833595. Montfort Capital's asset turnover of last year was 0.17606977. ==> 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
=0+0+0+0+0+1+1+0+0
=2

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

Montfort Capital has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

Montfort Capital  (TSXV:MONT.PR.A.PFD) 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.


Montfort Capital Piotroski F-Score Related Terms

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Montfort Capital Business Description

Traded in Other Exchanges
Address
181 Bay Street, Suite 2920, Bay Wellington Tower, Toronto, ON, CAN, M5J 2T3
Montfort Capital Corp manages a diversified family of specialized private credit brands that utilize focused strategies and experienced management teams combined with advanced technology to improve fee-related performance. Montfort facilitates transparency for all its investors through public company reporting. Its mission is to create value for shareholders by leveraging a tech-enabled lending platform to provide private debt capital to growing businesses through its group of specialty finance companies.

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