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Emilia Development (O.F.G) (XTAE:EMDV) Piotroski F-Score : 5 (As of May. 12, 2024)


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What is Emilia Development (O.F.G) 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

Emilia Development (O.F.G) 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 Emilia Development (O.F.G)'s Piotroski F-Score or its related term are showing as below:

XTAE:EMDV' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 5   Max: 8
Current: 5

During the past 12 years, the highest Piotroski F-Score of Emilia Development (O.F.G) was 8. The lowest was 4. And the median was 5.


Emilia Development (O.F.G) Piotroski F-Score Historical Data

The historical data trend for Emilia Development (O.F.G)'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.

Emilia Development (O.F.G) Piotroski F-Score Chart

Emilia Development (O.F.G) Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 8.00 4.00 8.00 5.00

Emilia Development (O.F.G) Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.00 6.00 5.00 6.00 5.00

Competitive Comparison of Emilia Development (O.F.G)'s Piotroski F-Score

For the Asset Management subindustry, Emilia Development (O.F.G)'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.


Emilia Development (O.F.G)'s Piotroski F-Score Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Emilia Development (O.F.G)'s Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Emilia Development (O.F.G)'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 (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was 17.718 + 12.708 + 39.926 + -17.38 = ₪53 Mil.
Cash Flow from Operations was 88.263 + 73.351 + 9.338 + 86.485 = ₪257 Mil.
Revenue was 528.972 + 482.417 + 544.583 + 490.659 = ₪2,047 Mil.
Gross Profit was 118.67 + 111.858 + 122.464 + 111.941 = ₪465 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(2577.323 + 2554.466 + 2727.38 + 2753.059 + 2598.895) / 5 = ₪2642.2246 Mil.
Total Assets at the begining of this year (Dec22) was ₪2,577 Mil.
Long-Term Debt & Capital Lease Obligation was ₪786 Mil.
Total Current Assets was ₪1,182 Mil.
Total Current Liabilities was ₪729 Mil.
Net Income was 29.251 + 13.044 + 15.043 + 3.39 = ₪61 Mil.

Revenue was 481.366 + 507.107 + 516.949 + 517.882 = ₪2,023 Mil.
Gross Profit was 118.976 + 126.778 + 120.334 + 106.754 = ₪473 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(2414.332 + 2546.444 + 2694.194 + 2643.991 + 2577.323) / 5 = ₪2575.2568 Mil.
Total Assets at the begining of last year (Dec21) was ₪2,414 Mil.
Long-Term Debt & Capital Lease Obligation was ₪763 Mil.
Total Current Assets was ₪1,214 Mil.
Total Current Liabilities was ₪765 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.

Emilia Development (O.F.G)'s current Net Income (TTM) was 53. ==> 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.

Emilia Development (O.F.G)'s current Cash Flow from Operations (TTM) was 257. ==> 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 (Dec22)
=52.972/2577.323
=0.02055311

ROA (Last Year)=Net Income/Total Assets (Dec21)
=60.728/2414.332
=0.02515313

Emilia Development (O.F.G)'s return on assets of this year was 0.02055311. Emilia Development (O.F.G)'s return on assets of last year was 0.02515313. ==> 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.

Emilia Development (O.F.G)'s current Net Income (TTM) was 53. Emilia Development (O.F.G)'s current Cash Flow from Operations (TTM) was 257. ==> 257 > 53 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=786.446/2642.2246
=0.2976454

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=763.417/2575.2568
=0.29644306

Emilia Development (O.F.G)'s gearing of this year was 0.2976454. Emilia Development (O.F.G)'s gearing of last year was 0.29644306. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=1182.183/728.876
=1.62192609

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=1214.374/765.144
=1.58711824

Emilia Development (O.F.G)'s current ratio of this year was 1.62192609. Emilia Development (O.F.G)'s current ratio of last year was 1.58711824. ==> 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.

Emilia Development (O.F.G)'s number of shares in issue this year was 27.993. Emilia Development (O.F.G)'s number of shares in issue last year was 27.993. ==> 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
=464.933/2046.631
=0.22716992

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=472.842/2023.304
=0.23369795

Emilia Development (O.F.G)'s gross margin of this year was 0.22716992. Emilia Development (O.F.G)'s gross margin of last year was 0.23369795. ==> 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 (Dec22)
=2046.631/2577.323
=0.79409178

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=2023.304/2414.332
=0.83803884

Emilia Development (O.F.G)'s asset turnover of this year was 0.79409178. Emilia Development (O.F.G)'s asset turnover of last year was 0.83803884. ==> 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

Emilia Development (O.F.G) has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Emilia Development (O.F.G)  (XTAE:EMDV) 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.


Emilia Development (O.F.G) Piotroski F-Score Related Terms

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Emilia Development (O.F.G) (XTAE:EMDV) Business Description

Traded in Other Exchanges
N/A
Address
11 Menahem Begin Street, Rogobin Tidhar Tower, 13th Floor, Ramat Gan, Tel Aviv, ISR, 526814
Emilia Development (O.F.G) Ltd is a holding company. The company has a diverse portfolio in the industrial services, distribution, and logistics sectors.

Emilia Development (O.F.G) (XTAE:EMDV) Headlines