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Bim Birlesik Magazalar AS (IST:BIMAS) Piotroski F-Score : 9 (As of May. 14, 2024)


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What is Bim Birlesik Magazalar AS Piotroski F-Score?

Good Sign:

Piotroski F-Score is 9, 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

Bim Birlesik Magazalar AS 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 Bim Birlesik Magazalar AS's Piotroski F-Score or its related term are showing as below:

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

During the past 13 years, the highest Piotroski F-Score of Bim Birlesik Magazalar AS was 9. The lowest was 3. And the median was 7.


Bim Birlesik Magazalar AS Piotroski F-Score Historical Data

The historical data trend for Bim Birlesik Magazalar AS'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.

Bim Birlesik Magazalar AS Piotroski F-Score Chart

Bim Birlesik Magazalar AS 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 3.00 8.00 5.00 8.00 -

Bim Birlesik Magazalar AS 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 8.00 8.00 9.00 -

Competitive Comparison of Bim Birlesik Magazalar AS's Piotroski F-Score

For the Grocery Stores subindustry, Bim Birlesik Magazalar AS'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.


Bim Birlesik Magazalar AS's Piotroski F-Score Distribution in the Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, Bim Birlesik Magazalar AS's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Bim Birlesik Magazalar AS'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 1354.118 + 2845.179 + 3849.375 + 7392.061 = ₺15,441 Mil.
Cash Flow from Operations was 1969.78 + 6912.965 + 6649.742 + 4497.972 = ₺20,030 Mil.
Revenue was 51334.587 + 57878.072 + 74405.682 + 144823.583 = ₺328,442 Mil.
Gross Profit was 9220.02 + 10694.294 + 15570.697 + 16197.644 = ₺51,683 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(126100.954 + 76030.222 + 83649.126 + 99427.7 + 148132.731) / 5 = ₺106668.1466 Mil.
Total Assets at the begining of this year (Dec22) was ₺126,101 Mil.
Long-Term Debt & Capital Lease Obligation was ₺17,679 Mil.
Total Current Assets was ₺54,459 Mil.
Total Current Liabilities was ₺54,074 Mil.
Net Income was 1341.604 + 1676.094 + 1775.321 + 11803.221 = ₺16,596 Mil.

Revenue was 27313.94 + 34135.399 + 41171.109 + 176632.462 = ₺279,253 Mil.
Gross Profit was 5067.653 + 6153.534 + 7275.13 + 23574.248 = ₺42,071 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(30412.122 + 37543.557 + 42486.582 + 48269.849 + 126100.954) / 5 = ₺56962.6128 Mil.
Total Assets at the begining of last year (Dec21) was ₺30,412 Mil.
Long-Term Debt & Capital Lease Obligation was ₺15,588 Mil.
Total Current Assets was ₺46,718 Mil.
Total Current Liabilities was ₺47,471 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.

Bim Birlesik Magazalar AS's current Net Income (TTM) was 15,441. ==> 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.

Bim Birlesik Magazalar AS's current Cash Flow from Operations (TTM) was 20,030. ==> 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)
=15440.733/126100.954
=0.12244739

ROA (Last Year)=Net Income/Total Assets (Dec21)
=16596.24/30412.122
=0.54571134

Bim Birlesik Magazalar AS's return on assets of this year was 0.12244739. Bim Birlesik Magazalar AS's return on assets of last year was 0.54571134. ==> 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.

Bim Birlesik Magazalar AS's current Net Income (TTM) was 15,441. Bim Birlesik Magazalar AS's current Cash Flow from Operations (TTM) was 20,030. ==> 20,030 > 15,441 ==> 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
=17679.128/106668.1466
=0.16573953

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=15588.299/56962.6128
=0.27365843

Bim Birlesik Magazalar AS's gearing of this year was 0.16573953. Bim Birlesik Magazalar AS's gearing of last year was 0.27365843. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=54458.958/54073.99
=1.00711928

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=46717.906/47471.057
=0.98413452

Bim Birlesik Magazalar AS's current ratio of this year was 1.00711928. Bim Birlesik Magazalar AS's current ratio of last year was 0.98413452. ==> 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.

Bim Birlesik Magazalar AS's number of shares in issue this year was 0. Bim Birlesik Magazalar AS's number of shares in issue last year was 597.842. ==> 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
=51682.655/328441.924
=0.15735706

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=42070.565/279252.91
=0.15065399

Bim Birlesik Magazalar AS's gross margin of this year was 0.15735706. Bim Birlesik Magazalar AS's gross margin of last year was 0.15065399. ==> 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 (Dec22)
=328441.924/126100.954
=2.60459508

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=279252.91/30412.122
=9.18228955

Bim Birlesik Magazalar AS's asset turnover of this year was 2.60459508. Bim Birlesik Magazalar AS's asset turnover of last year was 9.18228955. ==> 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+1+1+1+1+0
=7

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

Bim Birlesik Magazalar AS has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Bim Birlesik Magazalar AS  (IST:BIMAS) 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.


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Bim Birlesik Magazalar AS (IST:BIMAS) Business Description

Traded in Other Exchanges
N/A
Address
Abdurrahmangazi Mahallesi, Ebubekir Caddesi No: 73, Sancaktepe, Istanbul, TUR, 34887
Bim Birlesik Magazalar AS is a Turkey-based company that is engaged in operating retail stores through its retail shops throughout Turkey, which sell an assortment of approximately 850 items, including a number of private label products which includes Fresh Meat Products, Milk and milk products, Beverages, Legumes and Bakery, Snacks and Sweets, Fruits and Vegetables, Frozen Food, Cleaning Supplies, Oils and Cosmetics and papers. The company also operates abroad including in Morocco and Egypt.

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