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Eik fasteignafelag hf (OISE:EIK) Piotroski F-Score : 3 (As of May. 23, 2024)


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What is Eik fasteignafelag hf Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 3 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Eik fasteignafelag hf 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 Eik fasteignafelag hf's Piotroski F-Score or its related term are showing as below:

OISE:EIK' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 9
Current: 3

During the past 13 years, the highest Piotroski F-Score of Eik fasteignafelag hf was 9. The lowest was 3. And the median was 5.


Eik fasteignafelag hf Piotroski F-Score Historical Data

The historical data trend for Eik fasteignafelag hf'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.

Eik fasteignafelag hf Piotroski F-Score Chart

Eik fasteignafelag hf Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 6.00 6.00 6.00 4.00

Eik fasteignafelag hf Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 5.00 6.00 4.00 3.00

Competitive Comparison of Eik fasteignafelag hf's Piotroski F-Score

For the Real Estate Services subindustry, Eik fasteignafelag hf'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.


Eik fasteignafelag hf's Piotroski F-Score Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Eik fasteignafelag hf's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Eik fasteignafelag hf'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 6220 + -1884 + 394 + 2051 = kr6,781 Mil.
Cash Flow from Operations was 888 + 1351 + 585 + 1011 = kr3,835 Mil.
Revenue was 2382 + 2424 + 3377 + 2365 = kr10,548 Mil.
Gross Profit was 1462 + 2424 + 3377 + 1382 = kr8,645 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(133178 + 141979 + 140178 + 141629 + 145984) / 5 = kr140589.6 Mil.
Total Assets at the begining of this year (Mar23) was kr133,178 Mil.
Long-Term Debt & Capital Lease Obligation was kr74,247 Mil.
Total Current Assets was kr2,547 Mil.
Total Current Liabilities was kr7,647 Mil.
Net Income was 3538 + 1481 + 767 + 1122 = kr6,908 Mil.

Revenue was 2080 + 2205 + 3082 + 2309 = kr9,676 Mil.
Gross Profit was 1282 + 1347 + 10709 + 1375 = kr14,713 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(118657 + 122946 + 126089 + 128651 + 133178) / 5 = kr125904.2 Mil.
Total Assets at the begining of last year (Mar22) was kr118,657 Mil.
Long-Term Debt & Capital Lease Obligation was kr69,177 Mil.
Total Current Assets was kr3,927 Mil.
Total Current Liabilities was kr10,171 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.

Eik fasteignafelag hf's current Net Income (TTM) was 6,781. ==> 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.

Eik fasteignafelag hf's current Cash Flow from Operations (TTM) was 3,835. ==> 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 (Mar23)
=6781/133178
=0.05091682

ROA (Last Year)=Net Income/Total Assets (Mar22)
=6908/118657
=0.05821823

Eik fasteignafelag hf's return on assets of this year was 0.05091682. Eik fasteignafelag hf's return on assets of last year was 0.05821823. ==> 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.

Eik fasteignafelag hf's current Net Income (TTM) was 6,781. Eik fasteignafelag hf's current Cash Flow from Operations (TTM) was 3,835. ==> 3,835 <= 6,781 ==> 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: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=74247/140589.6
=0.52811161

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=69177/125904.2
=0.54944156

Eik fasteignafelag hf's gearing of this year was 0.52811161. Eik fasteignafelag hf's gearing of last year was 0.54944156. ==> 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: Mar24)=Total Current Assets/Total Current Liabilities
=2547/7647
=0.33307179

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=3927/10171
=0.38609773

Eik fasteignafelag hf's current ratio of this year was 0.33307179. Eik fasteignafelag hf's current ratio of last year was 0.38609773. ==> 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.

Eik fasteignafelag hf's number of shares in issue this year was 3418.333. Eik fasteignafelag hf's number of shares in issue last year was 3400. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=8645/10548
=0.81958665

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=14713/9676
=1.52056635

Eik fasteignafelag hf's gross margin of this year was 0.81958665. Eik fasteignafelag hf's gross margin of last year was 1.52056635. ==> 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 (Mar23)
=10548/133178
=0.07920227

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=9676/118657
=0.08154597

Eik fasteignafelag hf's asset turnover of this year was 0.07920227. Eik fasteignafelag hf's asset turnover of last year was 0.08154597. ==> 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+0+0+1+0+0+0+0
=3

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

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

Eik fasteignafelag hf  (OISE:EIK) 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.


Eik fasteignafelag hf Piotroski F-Score Related Terms

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Eik fasteignafelag hf (OISE:EIK) Business Description

Traded in Other Exchanges
N/A
Address
Soltun 26, Reykjavik, ISL, 105
Eik fasteignafelag hf is a real estate company. The company owns and leases real estate properties. Its real estate portfolio consists of housing, retail and office space in the business areas. It also engaged in leasing of commercial real estate. It offers spaces for offices, warehouses and retail spaces in both urban and rural area.

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