Ahn-Gook Pharmaceutical Co (XKRX:001540) Piotroski F-Score : 3 (As of Jun. 20, 2024)

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What is Ahn-Gook Pharmaceutical Co Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 3 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

Ahn-Gook Pharmaceutical Co has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for Ahn-Gook Pharmaceutical Co's Piotroski F-Score or its related term are showing as below:

XKRX:001540' s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 6 Max: 8
Current: 3

During the past 13 years, the highest Piotroski F-Score of Ahn-Gook Pharmaceutical Co was 8. The lowest was 2. And the median was 6.

Ahn-Gook Pharmaceutical Co Piotroski F-Score Historical Data

The historical data trend for Ahn-Gook Pharmaceutical Co'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.

Ahn-Gook Pharmaceutical Co Piotroski F-Score Chart

Ahn-Gook Pharmaceutical Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

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Dec22

Dec23

Piotroski F-Score

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6.00

3.00

7.00

6.00

4.00

Ahn-Gook Pharmaceutical Co Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Piotroski F-Score	Get a 7-Day Free Trial															7.00	8.00	5.00	4.00	3.00

Competitive Comparison of Ahn-Gook Pharmaceutical Co's Piotroski F-Score

For the Drug Manufacturers - Specialty & Generic subindustry, Ahn-Gook Pharmaceutical Co'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.

Ahn-Gook Pharmaceutical Co's Piotroski F-Score Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Ahn-Gook Pharmaceutical Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Ahn-Gook Pharmaceutical Co's Piotroski F-Score falls into.

How is the Piotroski F-Score calculated?

This Year (Mar24) TTM: Last Year (Mar23) TTM:

Net Income was 695.618 + 657.635 + -2746.245 + 7798.928 = ₩6,406 Mil.
Cash Flow from Operations was 1068.414 + -8437.581 + 2265.89 + -11145.61 = ₩-16,249 Mil.
Revenue was 58919.704 + 55351.427 + 64212.353 + 65739.278 = ₩244,223 Mil.
Gross Profit was 35069.067 + 33621.554 + 36952.608 + 39168.213 = ₩144,811 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(222782.033 + 226597.387 + 227779.451 + 238597.553 + 304174.958) / 5 = ₩243986.2764 Mil.
Total Assets at the begining of this year (Mar23) was ₩222,782 Mil.
Long-Term Debt & Capital Lease Obligation was ₩50,100 Mil.
Total Current Assets was ₩131,468 Mil.
Total Current Liabilities was ₩89,074 Mil. Net Income was 1193.37 + 3876.987 + 544.931 + 2683.118 = ₩8,298 Mil.

Revenue was 48114.371 + 53384.126 + 56723.284 + 55192.017 = ₩213,414 Mil.
Gross Profit was 28796.605 + 33351.696 + 35698.211 + 34927.548 = ₩132,774 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(215746.647 + 212632.914 + 221699.852 + 223912.434 + 222782.033) / 5 = ₩219354.776 Mil.
Total Assets at the begining of last year (Mar22) was ₩215,747 Mil.
Long-Term Debt & Capital Lease Obligation was ₩173 Mil.
Total Current Assets was ₩119,730 Mil.
Total Current Liabilities was ₩60,521 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.

Ahn-Gook Pharmaceutical Co's current Net Income (TTM) was 6,406. ==> 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.

Ahn-Gook Pharmaceutical Co's current Cash Flow from Operations (TTM) was -16,249. ==> 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 (Mar23)
	=	6405.936	/	222782.033
	=	0.02875428

ROA (Last Year)	=	Net Income	/	Total Assets (Mar22)
	=	8298.406	/	215746.647
	=	0.03846366

Ahn-Gook Pharmaceutical Co's return on assets of this year was 0.02875428. Ahn-Gook Pharmaceutical Co's return on assets of last year was 0.03846366. ==> 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.

Ahn-Gook Pharmaceutical Co's current Net Income (TTM) was 6,406. Ahn-Gook Pharmaceutical Co's current Cash Flow from Operations (TTM) was -16,249. ==> -16,249 <= 6,406 ==> 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: Mar24)	=	Long-Term Debt & Capital Lease Obligation	/	Average Total Assets from Mar23 to Mar24
	=	50100.493	/	243986.2764
	=	0.20534144

Gearing (Last Year: Mar23)	=	Long-Term Debt & Capital Lease Obligation	/	Average Total Assets from Mar22 to Mar23
	=	173.099	/	219354.776
	=	0.00078913

Ahn-Gook Pharmaceutical Co's gearing of this year was 0.20534144. Ahn-Gook Pharmaceutical Co's gearing of last year was 0.00078913. ==> 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: Mar24)	=	Total Current Assets	/	Total Current Liabilities
	=	131467.71	/	89073.588
	=	1.47594492

Current Ratio (Last Year: Mar23)	=	Total Current Assets	/	Total Current Liabilities
	=	119730.201	/	60520.767
	=	1.97833251

Ahn-Gook Pharmaceutical Co's current ratio of this year was 1.47594492. Ahn-Gook Pharmaceutical Co's current ratio of last year was 1.97833251. ==> 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.

Ahn-Gook Pharmaceutical Co's number of shares in issue this year was 11.369. Ahn-Gook Pharmaceutical Co's number of shares in issue last year was 11.369. ==> 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
	=	144811.442	/	244222.762
	=	0.59294818

Gross Margin (Last Year: TTM)	=	Gross Profit	/	Revenue
	=	132774.06	/	213413.798
	=	0.62214375

Ahn-Gook Pharmaceutical Co's gross margin of this year was 0.59294818. Ahn-Gook Pharmaceutical Co's gross margin of last year was 0.62214375. ==> 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 (Mar23)
	=	244222.762	/	222782.033
	=	1.09624084

Asset Turnover (Last Year)	=	Revenue	/	Total Assets at the Beginning of Last Year (Mar22)
	=	213413.798	/	215746.647
	=	0.98918709

Ahn-Gook Pharmaceutical Co's asset turnover of this year was 1.09624084. Ahn-Gook Pharmaceutical Co's asset turnover of last year was 0.98918709. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score

Que. 1

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

Ahn-Gook Pharmaceutical Co has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Ahn-Gook Pharmaceutical Co (XKRX:001540) 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.

Ahn-Gook Pharmaceutical Co Piotroski F-Score Related Terms

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Ahn-Gook Pharmaceutical Co (XKRX:001540) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Ahn-Gook Pharmaceutical Co Ltd (XKRX:001540) » Definitions » Piotroski F-Score

Traded in Other Exchanges

N/A

Address

993-75, Daerim-Dong, Yeongdeungpo-Gu, Seoul, KOR, 150-072

Website

http://www.ahn-gook.com

Ahn-Gook Pharmaceutical Co Ltd manufactures and markets medicines. The company is famous for medicine for ophthalmology. The company also engages in various prescription medicines.

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