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Adris Grupa DD (ZAG:ADRS) Piotroski F-Score : 8 (As of Dec. 15, 2024)


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What is Adris Grupa DD Piotroski F-Score?

Good Sign:

Piotroski F-Score is 8, indicates a very healthy situation.

The zones of discrimination were as such:

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

Adris Grupa DD has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

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

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

During the past 13 years, the highest Piotroski F-Score of Adris Grupa DD was 8. The lowest was 2. And the median was 6.


Adris Grupa DD Piotroski F-Score Historical Data

The historical data trend for Adris Grupa DD'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.

Adris Grupa DD Piotroski F-Score Chart

Adris Grupa DD 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 7.00 5.00 6.00 8.00 8.00

Adris Grupa DD 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 6.00 8.00 7.00 7.00 8.00

Competitive Comparison of Adris Grupa DD's Piotroski F-Score

For the Insurance - Diversified subindustry, Adris Grupa DD'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.


Adris Grupa DD's Piotroski F-Score Distribution in the Insurance Industry

For the Insurance industry and Financial Services sector, Adris Grupa DD's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Adris Grupa DD'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 -26.048 + -10.021 + 28.972 + 80.299 = €73 Mil.
Cash Flow from Operations was -27.445 + 10.353 + 41.48 + 70.102 = €94 Mil.
Revenue was 544.765 + 187.17 + 275.046 + 150.822 = €1,158 Mil.
Gross Profit was 482.852 + 15.944 + 57.271 + -99.725 = €456 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(2929.977 + 2891.672 + 2896.263 + 2993.755 + 3072.212) / 5 = €2956.7758 Mil.
Total Assets at the begining of this year (Sep23) was €2,930 Mil.
Long-Term Debt & Capital Lease Obligation was €203 Mil.
Total Current Assets was €662 Mil.
Total Current Liabilities was €1,096 Mil.
Net Income was -16.857 + -0.868 + 19.364 + 70.548 = €72 Mil.

Revenue was 111.653 + 163.807 + 255.805 + 141.512 = €673 Mil.
Gross Profit was 56.096 + 19.518 + 52.365 + -104.63 = €23 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(2947.401 + 2812.669 + 2791.374 + 2869.162 + 2929.977) / 5 = €2870.1166 Mil.
Total Assets at the begining of last year (Sep22) was €2,947 Mil.
Long-Term Debt & Capital Lease Obligation was €225 Mil.
Total Current Assets was €1,758 Mil.
Total Current Liabilities was €527 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.

Adris Grupa DD's current Net Income (TTM) was 73. ==> 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.

Adris Grupa DD's current Cash Flow from Operations (TTM) was 94. ==> 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)
=73.202/2929.977
=0.02498381

ROA (Last Year)=Net Income/Total Assets (Sep22)
=72.187/2947.401
=0.02449175

Adris Grupa DD's return on assets of this year was 0.02498381. Adris Grupa DD's return on assets of last year was 0.02449175. ==> This year is higher. ==> Score 1.

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.

Adris Grupa DD's current Net Income (TTM) was 73. Adris Grupa DD's current Cash Flow from Operations (TTM) was 94. ==> 94 > 73 ==> 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
=202.546/2956.7758
=0.06850232

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=224.858/2870.1166
=0.07834455

Adris Grupa DD's gearing of this year was 0.06850232. Adris Grupa DD's gearing of last year was 0.07834455. ==> 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
=662.052/1096.395
=0.60384442

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=1757.973/526.517
=3.33887225

Adris Grupa DD's current ratio of this year was 0.60384442. Adris Grupa DD's current ratio of last year was 3.33887225. ==> 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.

Adris Grupa DD's number of shares in issue this year was 15.76. Adris Grupa DD's number of shares in issue last year was 15.822. ==> 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
=456.342/1157.803
=0.39414477

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=23.349/672.777
=0.03470541

Adris Grupa DD's gross margin of this year was 0.39414477. Adris Grupa DD's gross margin of last year was 0.03470541. ==> This year's gross margin is higher. ==> Score 1.

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)
=1157.803/2929.977
=0.39515771

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=672.777/2947.401
=0.2282611

Adris Grupa DD's asset turnover of this year was 0.39515771. Adris Grupa DD's asset turnover of last year was 0.2282611. ==> 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
=1+1+1+1+1+0+1+1+1
=8

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

Adris Grupa DD has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Adris Grupa DD  (ZAG:ADRS) 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.


Adris Grupa DD Piotroski F-Score Related Terms

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Adris Grupa DD Business Description

Traded in Other Exchanges
Address
Obala Vladimira Nazora 1, Rovinj, HRV, 52210
Adris Grupa DD is engaged in management and investment of company. Its business unit comprises of Tourism, Healthy food production and Insurance.

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