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Georgia Capital (LSE:CGEO) Piotroski F-Score : 5 (As of Apr. 27, 2024)


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What is Georgia Capital Piotroski F-Score?

The zones of discrimination were as such:

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

Georgia Capital has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Georgia Capital's Piotroski F-Score or its related term are showing as below:

LSE:CGEO' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 5   Max: 6
Current: 5

During the past 9 years, the highest Piotroski F-Score of Georgia Capital was 6. The lowest was 5. And the median was 5.


Georgia Capital Piotroski F-Score Historical Data

The historical data trend for Georgia Capital'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.

Georgia Capital Piotroski F-Score Chart

Georgia Capital Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only 6.00 5.00 5.00 5.00 5.00

Georgia Capital Semi-Annual Data
Dec15 Dec16 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 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 5.00 - 5.00 - 5.00

Competitive Comparison of Georgia Capital's Piotroski F-Score

For the Conglomerates subindustry, Georgia Capital'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.


Georgia Capital's Piotroski F-Score Distribution in the Conglomerates Industry

For the Conglomerates industry and Industrials sector, Georgia Capital's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Georgia Capital'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 £178.7 Mil.
Cash Flow from Operations was £-1.8 Mil.
Revenue was £180.6 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (827.634 + 992.48) / 2 = £910.057 Mil.
Total Assets at the begining of this year (Dec22) was £827.6 Mil.
Long-Term Debt & Capital Lease Obligation was £0.0 Mil.
Total Assets was £992.5 Mil.
Total Liabilities was £0.5 Mil.
Net Income was £-3.6 Mil.

Revenue was £-1.5 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (848.244 + 827.634) / 2 = £837.939 Mil.
Total Assets at the begining of last year (Dec21) was £848.2 Mil.
Long-Term Debt & Capital Lease Obligation was £0.0 Mil.
Total Assets was £827.6 Mil.
Total Liabilities was £0.4 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.

Georgia Capital's current Net Income (TTM) was 178.7. ==> 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.

Georgia Capital's current Cash Flow from Operations (TTM) was -1.8. ==> 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.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec22)
=178.698/827.634
=0.21591428

ROA (Last Year)=Net Income/Total Assets (Dec21)
=-3.568/848.244
=-0.00420634

Georgia Capital's return on assets of this year was 0.21591428. Georgia Capital's return on assets of last year was -0.00420634. ==> 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.

Georgia Capital's current Net Income (TTM) was 178.7. Georgia Capital's current Cash Flow from Operations (TTM) was -1.8. ==> -1.8 <= 178.7 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=0/910.057
=0

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=0/837.939
=0

Georgia Capital's gearing of this year was 0. Georgia Capital's gearing of last year was 0. ==> 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

* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.

Current Ratio (This Year: Dec23)=Total Assets/Total Liabilities
=992.48/0.502
=1977.05179283

Current Ratio (Last Year: Dec22)=Total Assets/Total Liabilities
=827.634/0.409
=2023.55501222

Georgia Capital's current ratio of this year was 1977.05179283. Georgia Capital's current ratio of last year was 2023.55501222. ==> 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.

Georgia Capital's number of shares in issue this year was 40.762. Georgia Capital's number of shares in issue last year was 42.09. ==> 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.

* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.

Net Margin (This Year: TTM)=Net Income/Revenue
=178.698/180.625
=0.98933149

Net Margin (Last Year: TTM)=Net Income/Revenue
=-3.568/-1.512
=2.35978836

Georgia Capital's net margin of this year was 0.98933149. Georgia Capital's net margin of last year was 2.35978836. ==> Last year's net 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)
=180.625/827.634
=0.2182426

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=-1.512/848.244
=-0.00178251

Georgia Capital's asset turnover of this year was 0.2182426. Georgia Capital's asset turnover of last year was -0.00178251. ==> 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+0+1+0+1+0+1+0+1
=5

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

Georgia Capital has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Georgia Capital  (LSE:CGEO) 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.


Georgia Capital Piotroski F-Score Related Terms

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Georgia Capital (LSE:CGEO) Business Description

Traded in Other Exchanges
Address
42 Brook Street, London, GBR, W1K 5DB
Georgia Capital PLC is engaged in buying, building, and developing businesses in Georgia. The Group currently holds investments in six large and investment stage private businesses, a healthcare services business, a water utility business, a retail (pharmacy) business, an insurance business (P&C and medical insurance), a renewable energy business, and an education business. The company also holds other small private businesses across different industries in Georgia, including housing development, hospitality and commercial property construction and development, wine and beer production, and digital, and auto service businesses through privately held subsidiaries.

Georgia Capital (LSE:CGEO) Headlines

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