Arrowhead Properties (JSE:AHB) Piotroski F-Score : 0 (As of May. 26, 2024)

Arrowhead Properties Piotroski F-Score Chart

Arrowhead Properties Annual Data
	Trend	Jun11	Jun12	Jun13	Jun14	Mar16	Sep17	Sep18	Sep19	Sep20	Sep21
Piotroski F-Score		Get a 7-Day Free Trial					5.00	4.00	4.00	5.00	6.00

Arrowhead Properties Semi-Annual Data
	Jun11	Dec11	Jun12	Dec12	Jun13	Dec13	Jun14	Dec14	Sep15	Mar16	Sep16	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21
Piotroski F-Score	Get a 7-Day Free Trial															4.00	-	5.00	-	6.00

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.

*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.

Arrowhead Properties's current Net Income (TTM) was 181. ==> 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.

Arrowhead Properties's current Cash Flow from Operations (TTM) was 247. ==> 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.

Arrowhead Properties's return on assets of this year was 0.01255339. Arrowhead Properties's return on assets of last year was -0.04519163. ==> 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.

Arrowhead Properties's current Net Income (TTM) was 181. Arrowhead Properties's current Cash Flow from Operations (TTM) was 247. ==> 247 > 181 ==> 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.

Arrowhead Properties's gearing of this year was 0.28085984. Arrowhead Properties's gearing of last year was 0.23187748. ==> 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

Arrowhead Properties's current ratio of this year was 0.28466249. Arrowhead Properties's current ratio of last year was 0.21565419. ==> 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.

Arrowhead Properties's number of shares in issue this year was 10312.515. Arrowhead Properties's number of shares in issue last year was 1042.122. ==> 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.

Arrowhead Properties's gross margin of this year was 1. Arrowhead Properties's gross margin of last year was 1. ==> 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

Arrowhead Properties's asset turnover of this year was 0.13837426. Arrowhead Properties's asset turnover of last year was 0.1369451. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

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

Arrowhead Properties has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Arrowhead Properties  (JSE:AHB) 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.

Arrowhead Properties Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Arrowhead Properties's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Arrowhead Properties (JSE:AHB) Business Description