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Essen Speciality Films (NSE:ESFL) Piotroski F-Score : 8 (As of Jun. 01, 2024)


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What is Essen Speciality Films Piotroski F-Score?

Good Sign:

Piotroski F-Score is 8, indicates a very healthy situation.

The zones of discrimination were as such:

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

Essen Speciality Films has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

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

NSE:ESFL' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 8
Current: 8

During the past 4 years, the highest Piotroski F-Score of Essen Speciality Films was 8. The lowest was 2. And the median was 5.


Essen Speciality Films Piotroski F-Score Historical Data

The historical data trend for Essen Speciality Films'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.

Essen Speciality Films Piotroski F-Score Chart

Essen Speciality Films Annual Data
Trend Mar20 Mar21 Mar22 Mar23
Piotroski F-Score
N/A N/A 2.00 8.00

Essen Speciality Films Semi-Annual Data
Mar20 Mar21 Mar22 Mar23
Piotroski F-Score N/A N/A 2.00 8.00

Competitive Comparison of Essen Speciality Films's Piotroski F-Score

For the Furnishings, Fixtures & Appliances subindustry, Essen Speciality Films'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.


Essen Speciality Films's Piotroski F-Score Distribution in the Furnishings, Fixtures & Appliances Industry

For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Essen Speciality Films's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Essen Speciality Films'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 (Mar23) TTM:Last Year (Mar22) TTM:
Net Income was ₹134 Mil.
Cash Flow from Operations was ₹253 Mil.
Revenue was ₹1,171 Mil.
Gross Profit was ₹422 Mil.
Average Total Assets from the begining of this year (Mar22)
to the end of this year (Mar23) was (1185.928 + 1097.082) / 2 = ₹1141.505 Mil.
Total Assets at the begining of this year (Mar22) was ₹1,186 Mil.
Long-Term Debt & Capital Lease Obligation was ₹32 Mil.
Total Current Assets was ₹646 Mil.
Total Current Liabilities was ₹187 Mil.
Net Income was ₹52 Mil.

Revenue was ₹1,139 Mil.
Gross Profit was ₹337 Mil.
Average Total Assets from the begining of last year (Mar21)
to the end of last year (Mar22) was (1044.024 + 1185.928) / 2 = ₹1114.976 Mil.
Total Assets at the begining of last year (Mar21) was ₹1,044 Mil.
Long-Term Debt & Capital Lease Obligation was ₹35 Mil.
Total Current Assets was ₹728 Mil.
Total Current Liabilities was ₹380 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.

Essen Speciality Films's current Net Income (TTM) was 134. ==> 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.

Essen Speciality Films's current Cash Flow from Operations (TTM) was 253. ==> 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 (Mar22)
=133.723/1185.928
=0.11275811

ROA (Last Year)=Net Income/Total Assets (Mar21)
=51.69/1044.024
=0.04951036

Essen Speciality Films's return on assets of this year was 0.11275811. Essen Speciality Films's return on assets of last year was 0.04951036. ==> 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.

Essen Speciality Films's current Net Income (TTM) was 134. Essen Speciality Films's current Cash Flow from Operations (TTM) was 253. ==> 253 > 134 ==> 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: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=32.442/1141.505
=0.02842037

Gearing (Last Year: Mar22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar21 to Mar22
=35.391/1114.976
=0.03174149

Essen Speciality Films's gearing of this year was 0.02842037. Essen Speciality Films's gearing of last year was 0.03174149. ==> 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: Mar23)=Total Current Assets/Total Current Liabilities
=646.186/186.61
=3.46276191

Current Ratio (Last Year: Mar22)=Total Current Assets/Total Current Liabilities
=727.723/380.493
=1.91257921

Essen Speciality Films's current ratio of this year was 3.46276191. Essen Speciality Films's current ratio of last year was 1.91257921. ==> 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.

Essen Speciality Films's number of shares in issue this year was 20.699. Essen Speciality Films's number of shares in issue last year was 20.699. ==> 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
=421.945/1171.44
=0.36019344

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=337.16/1138.93
=0.29603224

Essen Speciality Films's gross margin of this year was 0.36019344. Essen Speciality Films's gross margin of last year was 0.29603224. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar22)
=1171.44/1185.928
=0.98778341

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar21)
=1138.93/1044.024
=1.09090404

Essen Speciality Films's asset turnover of this year was 0.98778341. Essen Speciality Films's asset turnover of last year was 1.09090404. ==> 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+1+1+1+1+1+1+1+0
=8

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

Essen Speciality Films has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Essen Speciality Films  (NSE:ESFL) 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.


Essen Speciality Films Piotroski F-Score Related Terms

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Essen Speciality Films (NSE:ESFL) Business Description

Traded in Other Exchanges
N/A
Address
Survey No. 192, Shapar, Industrial Area, Plot No. A, Veraval, Rajkot, GJ, IND, 360002
Essen Speciality Films Ltd is a manufacturer and exporter of specialized plastic products in the home improvement and home furnishing industry, to renowned multinational modern trade retailers, such as IKEA, Walmart, Kmart, Bed Bath & Beyond, Rusta, Runsven, Kohl's, Kroger, etc. The product mix of the company makes it a one-of-a-kind manufacturer in the world with ranges in the bath area and accessories, artificial plants & flowers, kitchen & dining, storage & organization, fitness & lifestyle, and outdoor & utility products all under one roof.

Essen Speciality Films (NSE:ESFL) Headlines

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