Piotroski F-Score is 7, 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
Kim Heng has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Kim Heng's Piotroski F-Score or its related term are showing as below:
SGX:5G2'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 9
Current: 7
During the past 12 years, the highest Piotroski F-Score of Kim Heng was 9. The lowest was 2. And the median was 5.
Kim Heng Piotroski F-Score Historical Data
The historical data trend for Kim Heng'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.
Competitive Comparison of Kim Heng's Piotroski F-Score
For the Oil & Gas Equipment & Services subindustry, Kim Heng'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.
Kim Heng's Piotroski F-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Kim Heng's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Kim Heng'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.
*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.
Kim Heng's current Net Income (TTM) was 1.6.
==> 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.
Kim Heng's gearing of this year was 0.20551871. Kim Heng's gearing of last year was 0.21866075.
==> 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
Kim Heng's current ratio of this year was 1.06956057. Kim Heng's current ratio of last year was 0.94410016.
==> 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.
Kim Heng's number of shares in issue this year was 705.442. Kim Heng's number of shares in issue last year was 705.442.
==> 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.
Kim Heng's gross margin of this year was 0.32372473. Kim Heng's gross margin of last year was 0.34726519.
==> 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
Kim Heng's asset turnover of this year was 0.65939465. Kim Heng's asset turnover of last year was 0.60687438.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Que. 1
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Que. 2
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Que. 4
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Que. 7
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Que. 9
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1
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1
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0
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1
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1
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0
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1
=
7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Kim Heng has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Kim Heng (SGX:5G2) 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.
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.
Kim Heng Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Kim Heng's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Kim Heng Ltd is an integrated offshore and marine value chain service provider. It is engaged in providing services like supply chain management which includes the provision of logistics, general shipping, and crew management, and provision of offshore supply vessels and heavy lift equipment, vessel sales, and newbuild which includes purchase and refurbishment of vessels for onselling, and heavy equipment sale and rental which includes leasing, sale, maintenance, import and export of heavy equipment, and providing equipment and machinery like a crawler, lorry, and mobile cranes. The operating segments are Offshore Rig Services and Supply Chain Management, and Vessel Sales and Newbuilds where offshore rig services contribute the majority of revenue.
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