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Southern Hydropower Joint Stock Company (STC:SHP) Piotroski F-Score : 7 (As of May. 15, 2024)


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What is Southern Hydropower Joint Stock Company Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, 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

Southern Hydropower Joint Stock Company has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Southern Hydropower Joint Stock Company's Piotroski F-Score or its related term are showing as below:

STC:SHP' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 7   Max: 9
Current: 7

During the past 13 years, the highest Piotroski F-Score of Southern Hydropower Joint Stock Company was 9. The lowest was 4. And the median was 7.


Southern Hydropower Joint Stock Company Piotroski F-Score Historical Data

The historical data trend for Southern Hydropower Joint Stock Company'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.

Southern Hydropower Joint Stock Company Piotroski F-Score Chart

Southern Hydropower Joint Stock Company 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 8.00 4.00 9.00 9.00 6.00

Southern Hydropower Joint Stock Company 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 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 5.00 5.00 6.00 7.00

Competitive Comparison of Southern Hydropower Joint Stock Company's Piotroski F-Score

For the Utilities - Diversified subindustry, Southern Hydropower Joint Stock Company'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.


Southern Hydropower Joint Stock Company's Piotroski F-Score Distribution in the Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Southern Hydropower Joint Stock Company's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Southern Hydropower Joint Stock Company'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 (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was 45789.626 + 133891.852 + 80256.908 + -6280.68 = ₫253,658 Mil.
Cash Flow from Operations was 47752.741 + 110322.72 + 111034.373 + 156541.093 = ₫425,651 Mil.
Revenue was 132478.501 + 254258.421 + 190776.692 + 56628.421 = ₫634,142 Mil.
Gross Profit was 59566.439 + 158975.682 + 103821.529 + 904.911 = ₫323,269 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(1618612.303 + 1646420.899 + 1665075.303 + 1545800.64 + 1404498.703) / 5 = ₫1576081.5696 Mil.
Total Assets at the begining of this year (Mar23) was ₫1,618,612 Mil.
Long-Term Debt & Capital Lease Obligation was ₫21,000 Mil.
Total Current Assets was ₫195,758 Mil.
Total Current Liabilities was ₫134,650 Mil.
Net Income was 77999.211 + 137030.387 + 44526.404 + 15342.549 = ₫274,899 Mil.

Revenue was 178216.92 + 243425.584 + 186318.13 + 83669.028 = ₫691,630 Mil.
Gross Profit was 93999.417 + 156853.366 + 99504.381 + 25857.003 = ₫376,214 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(1783468.8 + 1839431.737 + 1840855.543 + 1768989.904 + 1618612.303) / 5 = ₫1770271.6574 Mil.
Total Assets at the begining of last year (Mar22) was ₫1,783,469 Mil.
Long-Term Debt & Capital Lease Obligation was ₫104,000 Mil.
Total Current Assets was ₫265,489 Mil.
Total Current Liabilities was ₫153,248 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.

Southern Hydropower Joint Stock Company's current Net Income (TTM) was 253,658. ==> 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.

Southern Hydropower Joint Stock Company's current Cash Flow from Operations (TTM) was 425,651. ==> 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 (Mar23)
=253657.706/1618612.303
=0.15671307

ROA (Last Year)=Net Income/Total Assets (Mar22)
=274898.551/1783468.8
=0.15413701

Southern Hydropower Joint Stock Company's return on assets of this year was 0.15671307. Southern Hydropower Joint Stock Company's return on assets of last year was 0.15413701. ==> 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.

Southern Hydropower Joint Stock Company's current Net Income (TTM) was 253,658. Southern Hydropower Joint Stock Company's current Cash Flow from Operations (TTM) was 425,651. ==> 425,651 > 253,658 ==> 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: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=21000/1576081.5696
=0.01332418

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=104000/1770271.6574
=0.05874805

Southern Hydropower Joint Stock Company's gearing of this year was 0.01332418. Southern Hydropower Joint Stock Company's gearing of last year was 0.05874805. ==> 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: Mar24)=Total Current Assets/Total Current Liabilities
=195757.948/134649.876
=1.4538294

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=265489.052/153247.92
=1.73241537

Southern Hydropower Joint Stock Company's current ratio of this year was 1.4538294. Southern Hydropower Joint Stock Company's current ratio of last year was 1.73241537. ==> 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.

Southern Hydropower Joint Stock Company's number of shares in issue this year was 101.206. Southern Hydropower Joint Stock Company's number of shares in issue last year was 101.206. ==> 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
=323268.561/634142.035
=0.50977312

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=376214.167/691629.662
=0.5439532

Southern Hydropower Joint Stock Company's gross margin of this year was 0.50977312. Southern Hydropower Joint Stock Company's gross margin of last year was 0.5439532. ==> 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)
=634142.035/1618612.303
=0.3917813

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=691629.662/1783468.8
=0.38780026

Southern Hydropower Joint Stock Company's asset turnover of this year was 0.3917813. Southern Hydropower Joint Stock Company's asset turnover of last year was 0.38780026. ==> 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+0+1
=7

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

Southern Hydropower Joint Stock Company has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Southern Hydropower Joint Stock Company  (STC:SHP) 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.


Southern Hydropower Joint Stock Company Piotroski F-Score Related Terms

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Southern Hydropower Joint Stock Company (STC:SHP) Business Description

Traded in Other Exchanges
N/A
Address
45 Vo Thi Sau street, Unit.106, 1st Floor, Citilight Building, District 1, Ho Chi Minh City, VNM
Southern Hydropower Joint Stock Company is a Vietnam based company operating in the electric utilities industry. The company is involved investment in hydropower projects, operating and managing hydropower plants, producing and trading electricity, supervising construction of hydropower plants and installation of hydropower plant equipment. The company's hydropower plants are Da Siat, Da Dang 2 and Da M'bri.

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