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Batu Kawan Bhd (XKLS:1899) Piotroski F-Score : 5 (As of Dec. 14, 2024)


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What is Batu Kawan 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

Batu Kawan 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 Batu Kawan Bhd's Piotroski F-Score or its related term are showing as below:

XKLS:1899' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 6   Max: 7
Current: 5

During the past 13 years, the highest Piotroski F-Score of Batu Kawan Bhd was 7. The lowest was 5. And the median was 6.


Batu Kawan Bhd Piotroski F-Score Historical Data

The historical data trend for Batu Kawan 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.

Batu Kawan Bhd Piotroski F-Score Chart

Batu Kawan Bhd Annual Data
Trend Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 7.00 7.00 5.00 5.00

Batu Kawan Bhd 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 4.00 4.00 4.00 5.00

Competitive Comparison of Batu Kawan Bhd's Piotroski F-Score

For the Specialty Chemicals subindustry, Batu Kawan 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.


Batu Kawan Bhd's Piotroski F-Score Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, Batu Kawan Bhd's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Batu Kawan 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 (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was 111.736 + 84.72 + 131.037 + -19.761 = RM308 Mil.
Cash Flow from Operations was 532.551 + 490.091 + 342.371 + 496.732 = RM1,862 Mil.
Revenue was 5832.503 + 5660.49 + 5683.556 + 5883.603 = RM23,060 Mil.
Gross Profit was 5832.503 + 5660.49 + 5683.556 + 5883.603 = RM23,060 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(31907.533 + 32727.604 + 32765.258 + 32991.626 + 32043.981) / 5 = RM32487.2004 Mil.
Total Assets at the begining of this year (Sep23) was RM31,908 Mil.
Long-Term Debt & Capital Lease Obligation was RM7,298 Mil.
Total Current Assets was RM10,097 Mil.
Total Current Liabilities was RM7,116 Mil.
Net Income was 235.304 + 120.052 + 82.808 + 52.753 = RM491 Mil.

Revenue was 6988.313 + 6310.762 + 5350.795 + 6003.527 = RM24,653 Mil.
Gross Profit was 6988.313 + 6310.762 + 5350.795 + 6003.527 = RM24,653 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(32361.608 + 32181.393 + 31479.949 + 31814.964 + 31907.533) / 5 = RM31949.0894 Mil.
Total Assets at the begining of last year (Sep22) was RM32,362 Mil.
Long-Term Debt & Capital Lease Obligation was RM7,670 Mil.
Total Current Assets was RM10,095 Mil.
Total Current Liabilities was RM5,259 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.

Batu Kawan Bhd's current Net Income (TTM) was 308. ==> 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.

Batu Kawan Bhd's current Cash Flow from Operations (TTM) was 1,862. ==> 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)
=307.732/31907.533
=0.00964449

ROA (Last Year)=Net Income/Total Assets (Sep22)
=490.917/32361.608
=0.01516973

Batu Kawan Bhd's return on assets of this year was 0.00964449. Batu Kawan Bhd's return on assets of last year was 0.01516973. ==> 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.

Batu Kawan Bhd's current Net Income (TTM) was 308. Batu Kawan Bhd's current Cash Flow from Operations (TTM) was 1,862. ==> 1,862 > 308 ==> 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
=7297.704/32487.2004
=0.22463321

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=7669.787/31949.0894
=0.24006277

Batu Kawan Bhd's gearing of this year was 0.22463321. Batu Kawan Bhd's gearing of last year was 0.24006277. ==> 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
=10097.401/7116.368
=1.4188981

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=10094.754/5259.498
=1.91933793

Batu Kawan Bhd's current ratio of this year was 1.4188981. Batu Kawan Bhd's current ratio of last year was 1.91933793. ==> 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.

Batu Kawan Bhd's number of shares in issue this year was 393.048. Batu Kawan Bhd's number of shares in issue last year was 393.412. ==> 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
=23060.152/23060.152
=1

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=24653.397/24653.397
=1

Batu Kawan Bhd's gross margin of this year was 1. Batu Kawan Bhd'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)
=23060.152/31907.533
=0.72271811

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=24653.397/32361.608
=0.76181001

Batu Kawan Bhd's asset turnover of this year was 0.72271811. Batu Kawan Bhd's asset turnover of last year was 0.76181001. ==> 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+0+1+0+0
=5

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

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

Batu Kawan Bhd  (XKLS:1899) 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.


Batu Kawan Bhd Piotroski F-Score Related Terms

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Batu Kawan Bhd Business Description

Traded in Other Exchanges
N/A
Address
No. 1, Jalan S.P. Seenivasagam, Wisma Taiko, Ipoh, PRK, MYS, 30000
Batu Kawan Bhd is a holding company that focuses on harvesting palm trees and manufacturing and selling rubber and chemical products through its subsidiaries. The firm operates through four segments: plantation, manufacturing, property development, and investment holdings/others. The manufacturing segment generates majority revenue through selling a variety of chemical-based products, including oleochemicals, industrial amides, rubber gloves, and esters. The plantation segment generates the second portion of total revenue by cultivating and processing palm trees into both fresh fruit bunches and rubber products. Geographically, the firm operates in Asia, Europe, Americas, and Africa, with the majority of its revenue generated from Asian and European countries.

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