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Bamburi Cement (NAI:BAMB) Piotroski F-Score : 0 (As of May. 23, 2024)


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What is Bamburi Cement 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

Bamburi Cement has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

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


Bamburi Cement Piotroski F-Score Historical Data

The historical data trend for Bamburi Cement'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.

Bamburi Cement Piotroski F-Score Chart

Bamburi Cement Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 5.00 6.00 7.00 3.00

Bamburi Cement Semi-Annual Data
Jun13 Dec13 Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22
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 6.00 - 7.00 - 3.00

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.

This Year (Dec22) TTM:Last Year (Dec21) TTM:
Net Income was KES204 Mil.
Cash Flow from Operations was KES-550 Mil.
Revenue was KES38,998 Mil.
Gross Profit was KES4,261 Mil.
Average Total Assets from the begining of this year (Dec21)
to the end of this year (Dec22) was (51728 + 56087) / 2 = KES53907.5 Mil.
Total Assets at the begining of this year (Dec21) was KES51,728 Mil.
Long-Term Debt & Capital Lease Obligation was KES742 Mil.
Total Current Assets was KES14,906 Mil.
Total Current Liabilities was KES9,825 Mil.
Net Income was KES1,301 Mil.

Revenue was KES41,381 Mil.
Gross Profit was KES5,445 Mil.
Average Total Assets from the begining of last year (Dec20)
to the end of last year (Dec21) was (49446 + 51728) / 2 = KES50587 Mil.
Total Assets at the begining of last year (Dec20) was KES49,446 Mil.
Long-Term Debt & Capital Lease Obligation was KES2,727 Mil.
Total Current Assets was KES14,867 Mil.
Total Current Liabilities was KES7,876 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.

Bamburi Cement's current Net Income (TTM) was 204. ==> 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.

Bamburi Cement's current Cash Flow from Operations (TTM) was -550. ==> 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 (Dec21)
=204/51728
=0.00394371

ROA (Last Year)=Net Income/Total Assets (Dec20)
=1301/49446
=0.02631153

Bamburi Cement's return on assets of this year was 0.00394371. Bamburi Cement's return on assets of last year was 0.02631153. ==> 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.

Bamburi Cement's current Net Income (TTM) was 204. Bamburi Cement's current Cash Flow from Operations (TTM) was -550. ==> -550 <= 204 ==> 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: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=742/53907.5
=0.01376432

Gearing (Last Year: Dec21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec20 to Dec21
=2727/50587
=0.05390713

Bamburi Cement's gearing of this year was 0.01376432. Bamburi Cement's gearing of last year was 0.05390713. ==> 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: Dec22)=Total Current Assets/Total Current Liabilities
=14906/9825
=1.51715013

Current Ratio (Last Year: Dec21)=Total Current Assets/Total Current Liabilities
=14867/7876
=1.88763332

Bamburi Cement's current ratio of this year was 1.51715013. Bamburi Cement's current ratio of last year was 1.88763332. ==> 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.

Bamburi Cement's number of shares in issue this year was 363. Bamburi Cement's number of shares in issue last year was 363. ==> 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
=4261/38998
=0.10926201

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=5445/41381
=0.13158213

Bamburi Cement's gross margin of this year was 0.10926201. Bamburi Cement's gross margin of last year was 0.13158213. ==> 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 (Dec21)
=38998/51728
=0.75390504

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec20)
=41381/49446
=0.83689277

Bamburi Cement's asset turnover of this year was 0.75390504. Bamburi Cement's asset turnover of last year was 0.83689277. ==> 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+0+0+0+1+0+1+0+0
=3

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

Bamburi Cement has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Bamburi Cement  (NAI:BAMB) 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.


Bamburi Cement Piotroski F-Score Related Terms

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Bamburi Cement (NAI:BAMB) Business Description

Traded in Other Exchanges
N/A
Address
Kitui Road, Off Kampala Road, P.O. Box 10921, Industrial Area, Nairobi, KEN, 00100
Bamburi Cement Ltd is engaged in the manufacture and sale of cement and cement-related products. The company is organized into two main geographical segments: Kenya and Uganda. Both geographical features are involved in the manufacture and sale of cement and also include the manufacture and sale of ready-mix concrete, precast products, and rehabilitation of quarries that are used as a source of raw materials for cement production. Its products include Nguvu, PowerMax, PowerPlus, Powercrete, Tembo, Fundi, Duracem, Powerwhite, Paving Blocks, Drainage, Edge Restraints, and others. Bamburi also owns and manages a nature and environmental park created from rehabilitated quarries. Geographically company generates a majority of its revenue from Kenya.

Bamburi Cement (NAI:BAMB) Headlines

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