GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Furuya Metal Co Ltd (TSE:7826) » Definitions » Piotroski F-Score

Furuya Metal Co (TSE:7826) Piotroski F-Score : 3 (As of Apr. 28, 2024)


View and export this data going back to 2006. Start your Free Trial

What is Furuya Metal Co 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

Furuya Metal Co 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 Furuya Metal Co's Piotroski F-Score or its related term are showing as below:

TSE:7826' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 9
Current: 3

During the past 13 years, the highest Piotroski F-Score of Furuya Metal Co was 9. The lowest was 2. And the median was 5.


Furuya Metal Co Piotroski F-Score Historical Data

The historical data trend for Furuya Metal Co'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.

Furuya Metal Co Piotroski F-Score Chart

Furuya Metal Co Annual Data
Trend Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 4.00 5.00 2.00 3.00

Furuya Metal Co Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - 3.00 - -

Competitive Comparison of Furuya Metal Co's Piotroski F-Score

For the Electronic Components subindustry, Furuya Metal Co'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.


Furuya Metal Co's Piotroski F-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Furuya Metal Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Furuya Metal Co'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 (Jun23) TTM:Last Year (Jun22) TTM:
Net Income was 円9,406 Mil.
Cash Flow from Operations was 円-461 Mil.
Revenue was 円48,115 Mil.
Gross Profit was 円15,380 Mil.
Average Total Assets from the begining of this year (Jun22)
to the end of this year (Jun23) was (72662 + 87534) / 2 = 円80098 Mil.
Total Assets at the begining of this year (Jun22) was 円72,662 Mil.
Long-Term Debt & Capital Lease Obligation was 円6,087 Mil.
Total Current Assets was 円67,168 Mil.
Total Current Liabilities was 円35,782 Mil.
Net Income was 円9,142 Mil.

Revenue was 円45,321 Mil.
Gross Profit was 円16,152 Mil.
Average Total Assets from the begining of last year (Jun21)
to the end of last year (Jun22) was (55690 + 72662) / 2 = 円64176 Mil.
Total Assets at the begining of last year (Jun21) was 円55,690 Mil.
Long-Term Debt & Capital Lease Obligation was 円6,264 Mil.
Total Current Assets was 円53,278 Mil.
Total Current Liabilities was 円28,485 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.

Furuya Metal Co's current Net Income (TTM) was 9,406. ==> 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.

Furuya Metal Co's current Cash Flow from Operations (TTM) was -461. ==> 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 (Jun22)
=9406/72662
=0.12944868

ROA (Last Year)=Net Income/Total Assets (Jun21)
=9142/55690
=0.16415874

Furuya Metal Co's return on assets of this year was 0.12944868. Furuya Metal Co's return on assets of last year was 0.16415874. ==> 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.

Furuya Metal Co's current Net Income (TTM) was 9,406. Furuya Metal Co's current Cash Flow from Operations (TTM) was -461. ==> -461 <= 9,406 ==> 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: Jun23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun22 to Jun23
=6087/80098
=0.07599441

Gearing (Last Year: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=6264/64176
=0.09760658

Furuya Metal Co's gearing of this year was 0.07599441. Furuya Metal Co's gearing of last year was 0.09760658. ==> 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: Jun23)=Total Current Assets/Total Current Liabilities
=67168/35782
=1.87714493

Current Ratio (Last Year: Jun22)=Total Current Assets/Total Current Liabilities
=53278/28485
=1.87038792

Furuya Metal Co's current ratio of this year was 1.87714493. Furuya Metal Co's current ratio of last year was 1.87038792. ==> 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.

Furuya Metal Co's number of shares in issue this year was 7.009. Furuya Metal Co's number of shares in issue last year was 7.003. ==> 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
=15380/48115
=0.31965084

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=16152/45321
=0.35639108

Furuya Metal Co's gross margin of this year was 0.31965084. Furuya Metal Co's gross margin of last year was 0.35639108. ==> 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 (Jun22)
=48115/72662
=0.66217555

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun21)
=45321/55690
=0.81380858

Furuya Metal Co's asset turnover of this year was 0.66217555. Furuya Metal Co's asset turnover of last year was 0.81380858. ==> 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+1+0+0+0
=3

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

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

Furuya Metal Co  (TSE:7826) 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.


Furuya Metal Co Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Furuya Metal Co's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Furuya Metal Co (TSE:7826) Business Description

Traded in Other Exchanges
N/A
Address
MSB-21 Minami Otsuka Building, 2-37-5 Minami Otsuka, Toshima-ku, Tokyo, JPN, 170 0005
Furuya Metal Co Ltd is a Japanese based company. It manufactures and sells industrial-use precious metal products such as iridium and platinum and temperature sensors. It also engages in the sale of electronic materials, semiconductor-related products and offers thin film components. It provides various products including crucibles, seed holders, platinum bead dishes, tongs, mesh, sheet, foil, pipe, wire, thermocouples, sputtering targets, among others.

Furuya Metal Co (TSE:7826) Headlines

No Headlines