* 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.
Competitive Comparison of PT Goto Gojek Tokopedia Tbk's Piotroski F-Score
For the Software - Application subindustry, PT Goto Gojek Tokopedia 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 Goto Gojek Tokopedia Tbk's Piotroski F-Score Distribution in the Software Industry
For the Software industry and Technology sector, PT Goto Gojek Tokopedia Tbk's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where PT Goto Gojek Tokopedia 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 (Mar24) TTM:
Last Year (Mar23) TTM:
Net Income was -3299277 + -2387069 + -80847054 + -861911 = Rp-87,395,311 Mil. Cash Flow from Operations was -1177039 + -1103140 + -114134 + -81676 = Rp-2,475,989 Mil. Revenue was 3551196 + 3627093 + 4274773 + 4079226 = Rp15,532,288 Mil. Gross Profit was 2329155 + 2426264 + 2957496 + 2216831 = Rp9,929,746 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(135959043 + 133210975 + 132039759 + 54097256 + 47735756) / 5 = Rp100608557.8 Mil. Total Assets at the begining of this year (Mar23) was Rp135,959,043 Mil. Long-Term Debt & Capital Lease Obligation was Rp3,228,264 Mil. Total Current Assets was Rp29,067,824 Mil. Total Current Liabilities was Rp9,210,737 Mil.
Net Income was -7177140 + -6673823 + -19249532 + -3862229 = Rp-36,962,724 Mil.
Revenue was 1902617 + 4568903 + 3380276 + 3332430 = Rp13,184,226 Mil. Gross Profit was 647439 + 3184246 + 1755920 + 1979398 = Rp7,567,003 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(0 + 158921410 + 154795998 + 139216570 + 135959043) / 5 = Rp147223255.25 Mil. Total Assets at the begining of last year (Mar22) was Rp0 Mil. Long-Term Debt & Capital Lease Obligation was Rp1,657,662 Mil. Total Current Assets was Rp31,314,794 Mil. Total Current Liabilities was Rp11,536,495 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 Goto Gojek Tokopedia Tbk's current Net Income (TTM) was -87,395,311.
==> 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 Goto Gojek Tokopedia Tbk's current Cash Flow from Operations (TTM) was -2,475,989.
==> Negative ==> Score 0.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
PT Goto Gojek Tokopedia Tbk's return on assets of this year was -0.64280616. PT Goto Gojek Tokopedia Tbk's return on assets of last year was .
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
PT Goto Gojek Tokopedia Tbk's gearing of this year was 0.03208737. PT Goto Gojek Tokopedia Tbk's gearing of last year was 0.01125951.
==> 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
PT Goto Gojek Tokopedia Tbk's current ratio of this year was 3.15586299. PT Goto Gojek Tokopedia Tbk's current ratio of last year was 2.71441144.
==> 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.
PT Goto Gojek Tokopedia Tbk's number of shares in issue this year was 1073078.602. PT Goto Gojek Tokopedia Tbk's number of shares in issue last year was 1054243.992.
==> 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.
PT Goto Gojek Tokopedia Tbk's gross margin of this year was 0.63929706. PT Goto Gojek Tokopedia Tbk's gross margin of last year was 0.57394367.
==> 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
PT Goto Gojek Tokopedia Tbk's asset turnover of this year was 0.1142424. PT Goto Gojek Tokopedia Tbk's asset turnover of last year was .
==> 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
=
0
+
0
+
1
+
1
+
0
+
1
+
0
+
1
+
1
=
5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
PT Goto Gojek Tokopedia Tbk has an F-score of 5 indicating the company's financial situation is typical for a stable company.
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.
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 Goto Gojek Tokopedia Tbk Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of PT Goto Gojek Tokopedia Tbk's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
PT Goto Gojek Tokopedia Tbk (ISX:GOTO) Business Description
GoTo is an Indonesian ecosystem that combines e-commerce, ride-hailing, delivery, and financial services under one app. The company operates primarily in Indonesia and is the product of a merger between Gojek and Tokopedia in May 2021. The company has 64 million active paying users and 12 million merchants as of 2022 on its platform. In 2022, on-demand accounted for 55% of revenue, e-commerce for 37%, and financial services for 8%. However, 82% of nonfinancial services gross transactional value comes from e-commerce, as it is the focal point in the ecosystem. The company competes with giants such as Sea-backed Shopee, Alibaba's Lazada, and smaller peers such as Bukalapak in e-commerce—and with Grab in the ride-hailing and delivery business.
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