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Nava Nakorn PCL (BKK:NNCL) Piotroski F-Score : 7 (As of May. 31, 2024)


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What is Nava Nakorn PCL 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

Nava Nakorn PCL 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 Nava Nakorn PCL's Piotroski F-Score or its related term are showing as below:

BKK:NNCL' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 9
Current: 7

During the past 13 years, the highest Piotroski F-Score of Nava Nakorn PCL was 9. The lowest was 3. And the median was 6.


Nava Nakorn PCL Piotroski F-Score Historical Data

The historical data trend for Nava Nakorn PCL'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.

Nava Nakorn PCL Piotroski F-Score Chart

Nava Nakorn PCL 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 6.00 8.00 5.00 6.00 6.00

Nava Nakorn PCL 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 6.00 6.00 6.00 7.00

Competitive Comparison of Nava Nakorn PCL's Piotroski F-Score

For the Utilities - Independent Power Producers subindustry, Nava Nakorn PCL'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.


Nava Nakorn PCL's Piotroski F-Score Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Nava Nakorn PCL's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Nava Nakorn PCL'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 113.577 + 141.326 + 68.269 + 159.663 = ฿483 Mil.
Cash Flow from Operations was 107.045 + 33.24 + 82.524 + 167.063 = ฿390 Mil.
Revenue was 259.806 + 296.665 + 193.45 + 292.696 = ฿1,043 Mil.
Gross Profit was 141.908 + 160.471 + 105.333 + 213.906 = ฿622 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(4518.407 + 4495.321 + 4459.365 + 4516.696 + 4668.533) / 5 = ฿4531.6644 Mil.
Total Assets at the begining of this year (Mar23) was ฿4,518 Mil.
Long-Term Debt & Capital Lease Obligation was ฿125 Mil.
Total Current Assets was ฿1,730 Mil.
Total Current Liabilities was ฿207 Mil.
Net Income was 100.357 + 16.429 + 52.812 + 75.893 = ฿245 Mil.

Revenue was 244.85 + 210.091 + 274.049 + 225.209 = ฿954 Mil.
Gross Profit was 145.08 + 126.346 + 140.982 + 134.317 = ฿547 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(4384.561 + 4374.281 + 4356.251 + 4325.197 + 4518.407) / 5 = ฿4391.7394 Mil.
Total Assets at the begining of last year (Mar22) was ฿4,385 Mil.
Long-Term Debt & Capital Lease Obligation was ฿155 Mil.
Total Current Assets was ฿1,940 Mil.
Total Current Liabilities was ฿260 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.

Nava Nakorn PCL's current Net Income (TTM) was 483. ==> 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.

Nava Nakorn PCL's current Cash Flow from Operations (TTM) was 390. ==> 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)
=482.835/4518.407
=0.10685956

ROA (Last Year)=Net Income/Total Assets (Mar22)
=245.491/4384.561
=0.05598987

Nava Nakorn PCL's return on assets of this year was 0.10685956. Nava Nakorn PCL's return on assets of last year was 0.05598987. ==> 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.

Nava Nakorn PCL's current Net Income (TTM) was 483. Nava Nakorn PCL's current Cash Flow from Operations (TTM) was 390. ==> 390 <= 483 ==> 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
=124.88/4531.6644
=0.0275572

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=155.384/4391.7394
=0.03538097

Nava Nakorn PCL's gearing of this year was 0.0275572. Nava Nakorn PCL's gearing of last year was 0.03538097. ==> 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
=1730.117/206.992
=8.35837617

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=1940.031/260.452
=7.4487084

Nava Nakorn PCL's current ratio of this year was 8.35837617. Nava Nakorn PCL's current ratio of last year was 7.4487084. ==> 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.

Nava Nakorn PCL's number of shares in issue this year was 1995.788. Nava Nakorn PCL's number of shares in issue last year was 1897.325. ==> There is larger number of shares in issue this year. ==> Score 0.

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
=621.618/1042.617
=0.59620935

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=546.725/954.199
=0.57296748

Nava Nakorn PCL's gross margin of this year was 0.59620935. Nava Nakorn PCL's gross margin of last year was 0.57296748. ==> 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 (Mar23)
=1042.617/4518.407
=0.2307488

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=954.199/4384.561
=0.21762703

Nava Nakorn PCL's asset turnover of this year was 0.2307488. Nava Nakorn PCL's asset turnover of last year was 0.21762703. ==> 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+0+1+1+0+1+1
=7

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

Nava Nakorn PCL has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Nava Nakorn PCL  (BKK:NNCL) 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.


Nava Nakorn PCL Piotroski F-Score Related Terms

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Nava Nakorn PCL (BKK:NNCL) Business Description

Traded in Other Exchanges
N/A
Address
999 Moo 13, Phaholyothin Road, Tambol Klong Nueng, Amphur Klong Luang, Pathumthani, THA, 12120
Nava Nakorn PCL is an industrial estate developer. It is engaged in the development of the property and industrial promotion zone projects for trading and leasing and providing utilities and other facilities services in the industrial promotion zone. The company has two reportable segments namely Real estate business and Utilities services business. It generates majority of revenue from the Utilities services segment.

Nava Nakorn PCL (BKK:NNCL) Headlines

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