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KSG Agro (WAR:KSG) Piotroski F-Score : 4 (As of May. 12, 2024)


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What is KSG Agro 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

KSG Agro has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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

WAR:KSG' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 6   Max: 8
Current: 4

During the past 13 years, the highest Piotroski F-Score of KSG Agro was 8. The lowest was 1. And the median was 6.


KSG Agro Piotroski F-Score Historical Data

The historical data trend for KSG Agro'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.

KSG Agro Piotroski F-Score Chart

KSG Agro Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 7.00 5.00 7.00 2.00

KSG Agro Quarterly Data
Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23
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 2.00 3.00 3.00 4.00

Competitive Comparison of KSG Agro's Piotroski F-Score

For the Farm Products subindustry, KSG Agro'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.


KSG Agro's Piotroski F-Score Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, KSG Agro's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where KSG Agro'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 (Sep23) TTM:Last Year (Sep22) TTM:
Net Income was -6.554 + 6.107 + -1.923 + 1.153 = zł-1.22 Mil.
Cash Flow from Operations was 3.1 + 6.646 + -1.097 + 4.998 = zł13.65 Mil.
Revenue was 23.839 + 20.409 + 9.135 + 17.943 = zł71.33 Mil.
Gross Profit was 0.152 + 8.226 + -1.069 + 11.625 = zł18.93 Mil.
Average Total Assets from the begining of this year (Sep22)
to the end of this year (Sep23) was
(228.641 + 139.734 + 136.351 + 139.283 + 143.962) / 5 = zł157.5942 Mil.
Total Assets at the begining of this year (Sep22) was zł228.64 Mil.
Long-Term Debt & Capital Lease Obligation was zł106.63 Mil.
Total Current Assets was zł75.56 Mil.
Total Current Liabilities was zł83.44 Mil.
Net Income was 2.669 + 7.348 + -3.925 + -3.04 = zł3.05 Mil.

Revenue was 39.118 + 14.122 + 9.901 + 16.771 = zł79.91 Mil.
Gross Profit was 13.18 + 5.625 + 2.569 + 4.34 = zł25.71 Mil.
Average Total Assets from the begining of last year (Sep21)
to the end of last year (Sep22) was
(294.858 + 177.723 + 274.186 + 273.332 + 228.641) / 5 = zł249.748 Mil.
Total Assets at the begining of last year (Sep21) was zł294.86 Mil.
Long-Term Debt & Capital Lease Obligation was zł103.13 Mil.
Total Current Assets was zł94.51 Mil.
Total Current Liabilities was zł74.89 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.

KSG Agro's current Net Income (TTM) was -1.22. ==> 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.

KSG Agro's current Cash Flow from Operations (TTM) was 13.65. ==> 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 (Sep22)
=-1.217/228.641
=-0.00532275

ROA (Last Year)=Net Income/Total Assets (Sep21)
=3.052/294.858
=0.01035075

KSG Agro's return on assets of this year was -0.00532275. KSG Agro's return on assets of last year was 0.01035075. ==> 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.

KSG Agro's current Net Income (TTM) was -1.22. KSG Agro's current Cash Flow from Operations (TTM) was 13.65. ==> 13.65 > -1.22 ==> 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: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=106.627/157.5942
=0.67659216

Gearing (Last Year: Sep22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep21 to Sep22
=103.125/249.748
=0.41291622

KSG Agro's gearing of this year was 0.67659216. KSG Agro's gearing of last year was 0.41291622. ==> 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: Sep23)=Total Current Assets/Total Current Liabilities
=75.555/83.438
=0.90552266

Current Ratio (Last Year: Sep22)=Total Current Assets/Total Current Liabilities
=94.512/74.893
=1.2619604

KSG Agro's current ratio of this year was 0.90552266. KSG Agro's current ratio of last year was 1.2619604. ==> Last year's current ratio is higher ==> Score 0.

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.

KSG Agro's number of shares in issue this year was 15.02. KSG Agro's number of shares in issue last year was 15.02. ==> 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
=18.934/71.326
=0.2654572

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=25.714/79.912
=0.32177896

KSG Agro's gross margin of this year was 0.2654572. KSG Agro's gross margin of last year was 0.32177896. ==> 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 (Sep22)
=71.326/228.641
=0.3119563

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep21)
=79.912/294.858
=0.27101859

KSG Agro's asset turnover of this year was 0.3119563. KSG Agro's asset turnover of last year was 0.27101859. ==> 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
=0+1+0+1+0+0+1+0+1
=4

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

KSG Agro has an F-score of 4 indicating the company's financial situation is typical for a stable company.

KSG Agro  (WAR:KSG) 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.


KSG Agro Piotroski F-Score Related Terms

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KSG Agro (WAR:KSG) Business Description

Traded in Other Exchanges
N/A
Address
24, rue Astrid, Luxembourg, LUX, L-1143
KSG Agro SA is engaged in the cultivation of land and the production of agricultural crops. It has two operating segments. The Crop production segment is focused on sunflower, wheat, barley, rapeseed, and corn. The Pigs breeding segment deals with the sale of pigs and piglets in live and dead weight. It generates a vast majority of its revenues from Ukraine and also has operations across Europe.

KSG Agro (WAR:KSG) Headlines

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