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Carlo Rino Group Bhd (XKLS:03016) Piotroski F-Score : 5 (As of Jun. 12, 2024)


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What is Carlo Rino Group Bhd 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

Carlo Rino Group Bhd 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 Carlo Rino Group Bhd's Piotroski F-Score or its related term are showing as below:

XKLS:03016' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 6   Max: 8
Current: 5

During the past 8 years, the highest Piotroski F-Score of Carlo Rino Group Bhd was 8. The lowest was 5. And the median was 6.


Carlo Rino Group Bhd Piotroski F-Score Historical Data

The historical data trend for Carlo Rino Group Bhd'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.

Carlo Rino Group Bhd Piotroski F-Score Chart

Carlo Rino Group Bhd Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23
Piotroski F-Score
Get a 7-Day Free Trial N/A N/A 6.00 8.00 5.00

Carlo Rino Group Bhd Semi-Annual Data
Jun16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
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 - 8.00 - 5.00 -

Competitive Comparison of Carlo Rino Group Bhd's Piotroski F-Score

For the Footwear & Accessories subindustry, Carlo Rino Group Bhd'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.


Carlo Rino Group Bhd's Piotroski F-Score Distribution in the Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Carlo Rino Group Bhd's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Carlo Rino Group Bhd'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 (Jun23) TTM:Last Year (Jun22) TTM:
Net Income was RM23.9 Mil.
Cash Flow from Operations was RM35.1 Mil.
Revenue was RM113.5 Mil.
Gross Profit was RM70.1 Mil.
Average Total Assets from the begining of this year (Jun22)
to the end of this year (Jun23) was (136.107 + 149.033) / 2 = RM142.57 Mil.
Total Assets at the begining of this year (Jun22) was RM136.1 Mil.
Long-Term Debt & Capital Lease Obligation was RM30.5 Mil.
Total Current Assets was RM87.3 Mil.
Total Current Liabilities was RM17.2 Mil.
Net Income was RM22.2 Mil.

Revenue was RM101.8 Mil.
Gross Profit was RM63.0 Mil.
Average Total Assets from the begining of last year (Jun21)
to the end of last year (Jun22) was (112.778 + 136.107) / 2 = RM124.4425 Mil.
Total Assets at the begining of last year (Jun21) was RM112.8 Mil.
Long-Term Debt & Capital Lease Obligation was RM24.6 Mil.
Total Current Assets was RM84.2 Mil.
Total Current Liabilities was RM19.9 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.

Carlo Rino Group Bhd's current Net Income (TTM) was 23.9. ==> 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.

Carlo Rino Group Bhd's current Cash Flow from Operations (TTM) was 35.1. ==> 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 (Jun22)
=23.853/136.107
=0.17525182

ROA (Last Year)=Net Income/Total Assets (Jun21)
=22.231/112.778
=0.19712178

Carlo Rino Group Bhd's return on assets of this year was 0.17525182. Carlo Rino Group Bhd's return on assets of last year was 0.19712178. ==> 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.

Carlo Rino Group Bhd's current Net Income (TTM) was 23.9. Carlo Rino Group Bhd's current Cash Flow from Operations (TTM) was 35.1. ==> 35.1 > 23.9 ==> 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: Jun23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun22 to Jun23
=30.527/142.57
=0.21411938

Gearing (Last Year: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=24.617/124.4425
=0.19781827

Carlo Rino Group Bhd's gearing of this year was 0.21411938. Carlo Rino Group Bhd's gearing of last year was 0.19781827. ==> 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: Jun23)=Total Current Assets/Total Current Liabilities
=87.276/17.183
=5.07920619

Current Ratio (Last Year: Jun22)=Total Current Assets/Total Current Liabilities
=84.201/19.916
=4.22780679

Carlo Rino Group Bhd's current ratio of this year was 5.07920619. Carlo Rino Group Bhd's current ratio of last year was 4.22780679. ==> 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.

Carlo Rino Group Bhd's number of shares in issue this year was 805.651. Carlo Rino Group Bhd's number of shares in issue last year was 805.651. ==> 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
=70.064/113.534
=0.6171191

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=63.043/101.787
=0.619362

Carlo Rino Group Bhd's gross margin of this year was 0.6171191. Carlo Rino Group Bhd's gross margin of last year was 0.619362. ==> 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 (Jun22)
=113.534/136.107
=0.83415254

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun21)
=101.787/112.778
=0.90254305

Carlo Rino Group Bhd's asset turnover of this year was 0.83415254. Carlo Rino Group Bhd's asset turnover of last year was 0.90254305. ==> 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+0+1+1+0+0
=5

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

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

Carlo Rino Group Bhd  (XKLS:03016) 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.


Carlo Rino Group Bhd Piotroski F-Score Related Terms

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Carlo Rino Group Bhd (XKLS:03016) Business Description

Traded in Other Exchanges
N/A
Address
No. 160, Jalan Cerdas, Taman Connaught, L2-05, 2nd Floor, Ikon Connaught, Wilayah Persekutuan, Kuala Lumpur, MYS, 56000
Carlo Rino Group Bhd is an investment holding company whose subsidiaries are principally involved in the design, marketing and retailing of women footwear, handbags and accessories; and provision of management services in Malaysia.

Carlo Rino Group Bhd (XKLS:03016) Headlines

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