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PT Elang Mahkota Teknologi Tbk (ISX:EMTK) Piotroski F-Score : 2 (As of Apr. 29, 2024)


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What is PT Elang Mahkota Teknologi Tbk Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 2 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

PT Elang Mahkota Teknologi Tbk has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for PT Elang Mahkota Teknologi Tbk's Piotroski F-Score or its related term are showing as below:

ISX:EMTK' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 2

During the past 13 years, the highest Piotroski F-Score of PT Elang Mahkota Teknologi Tbk was 7. The lowest was 2. And the median was 5.


PT Elang Mahkota Teknologi Tbk Piotroski F-Score Historical Data

The historical data trend for PT Elang Mahkota Teknologi Tbk'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.

PT Elang Mahkota Teknologi Tbk Piotroski F-Score Chart

PT Elang Mahkota Teknologi Tbk 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 2.00 5.00 7.00 4.00 2.00

PT Elang Mahkota Teknologi Tbk 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 4.00 5.00 4.00 5.00 2.00

Competitive Comparison of PT Elang Mahkota Teknologi Tbk's Piotroski F-Score

For the Broadcasting subindustry, PT Elang Mahkota Teknologi Tbk'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.


PT Elang Mahkota Teknologi Tbk's Piotroski F-Score Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, PT Elang Mahkota Teknologi Tbk's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where PT Elang Mahkota Teknologi Tbk'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 -330986.294 + -113195.952 + 281994.819 + 21417.276 = Rp-140,770 Mil.
Cash Flow from Operations was 396194.61 + -472429.693 + 638128.556 + 576576.865 = Rp1,138,470 Mil.
Revenue was 3876093.298 + 3878025.376 + -987744.352 + 2475045.051 = Rp9,241,419 Mil.
Gross Profit was 736551.561 + 631850.978 + 727744.943 + 767259.137 = Rp2,863,407 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(44469025.417 + 43702003.737 + 43162809.76 + 43113737.183 + 42891250.53) / 5 = Rp43467765.3254 Mil.
Total Assets at the begining of this year (Dec22) was Rp44,469,025 Mil.
Long-Term Debt & Capital Lease Obligation was Rp737,750 Mil.
Total Current Assets was Rp15,825,106 Mil.
Total Current Liabilities was Rp3,208,075 Mil.
Net Income was 4072821.591 + -1367924.258 + 2840288.068 + -101175.446 = Rp5,444,010 Mil.

Revenue was 3374652.381 + 3725278.925 + -120520.735 + 2876725.484 = Rp9,856,136 Mil.
Gross Profit was 914419.154 + 972160.283 + 831930.168 + 603176.426 = Rp3,321,686 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(38168511.114 + 42878221.887 + 43886303.005 + 44651884.773 + 44469025.417) / 5 = Rp42810789.2392 Mil.
Total Assets at the begining of last year (Dec21) was Rp38,168,511 Mil.
Long-Term Debt & Capital Lease Obligation was Rp694,768 Mil.
Total Current Assets was Rp16,503,759 Mil.
Total Current Liabilities was Rp3,129,320 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.

PT Elang Mahkota Teknologi Tbk's current Net Income (TTM) was -140,770. ==> Negative ==> Score 0.

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.

PT Elang Mahkota Teknologi Tbk's current Cash Flow from Operations (TTM) was 1,138,470. ==> 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)
=-140770.151/44469025.417
=-0.00316558

ROA (Last Year)=Net Income/Total Assets (Dec21)
=5444009.955/38168511.114
=0.14263092

PT Elang Mahkota Teknologi Tbk's return on assets of this year was -0.00316558. PT Elang Mahkota Teknologi Tbk's return on assets of last year was 0.14263092. ==> 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.

PT Elang Mahkota Teknologi Tbk's current Net Income (TTM) was -140,770. PT Elang Mahkota Teknologi Tbk's current Cash Flow from Operations (TTM) was 1,138,470. ==> 1,138,470 > -140,770 ==> 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
=737749.747/43467765.3254
=0.01697234

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=694767.994/42810789.2392
=0.01622881

PT Elang Mahkota Teknologi Tbk's gearing of this year was 0.01697234. PT Elang Mahkota Teknologi Tbk's gearing of last year was 0.01622881. ==> 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
=15825106.228/3208074.535
=4.93289855

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=16503758.5/3129319.807
=5.27391239

PT Elang Mahkota Teknologi Tbk's current ratio of this year was 4.93289855. PT Elang Mahkota Teknologi Tbk's current ratio of last year was 5.27391239. ==> 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.

PT Elang Mahkota Teknologi Tbk's number of shares in issue this year was 61072.805. PT Elang Mahkota Teknologi Tbk's number of shares in issue last year was 60998.889. ==> 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
=2863406.619/9241419.373
=0.3098449

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=3321686.031/9856136.055
=0.33701706

PT Elang Mahkota Teknologi Tbk's gross margin of this year was 0.3098449. PT Elang Mahkota Teknologi Tbk's gross margin of last year was 0.33701706. ==> 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)
=9241419.373/44469025.417
=0.207817

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=9856136.055/38168511.114
=0.25822689

PT Elang Mahkota Teknologi Tbk's asset turnover of this year was 0.207817. PT Elang Mahkota Teknologi Tbk's asset turnover of last year was 0.25822689. ==> 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
=0+1+0+1+0+0+0+0+0
=2

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

PT Elang Mahkota Teknologi Tbk has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

PT Elang Mahkota Teknologi Tbk  (ISX:EMTK) 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.


PT Elang Mahkota Teknologi Tbk Piotroski F-Score Related Terms

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PT Elang Mahkota Teknologi Tbk (ISX:EMTK) Business Description

Traded in Other Exchanges
N/A
Address
Jalan Asia Afrika Lot 19, SCTV Tower, 18th Floor, Senayan City, Jakarta, IDN, 10270
PT Elang Mahkota Teknologi Tbk is an Indonesian integrated group involved in four business divisions, Media, Solutions, Healthcare, and Others. Media, representing Free-to-Air of television broadcasting under the 4 television channels, Healthcare, representing a wide range of medical services. Its Solutions division offers infrastructure and services in information, communication services, the telecommunication industry, banking, and retail payment. The others represent connectivity including internet service provision, pay-TV service, and wireless broadband service. It derives maximum revenue from the Media segment.

PT Elang Mahkota Teknologi Tbk (ISX:EMTK) Headlines

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