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C's Create Co (TSE:8921) Piotroski F-Score : 4 (As of Jun. 04, 2024)


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What is C's Create Co 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

C's Create Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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

TSE:8921' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 4   Max: 6
Current: 4

During the past 5 years, the highest Piotroski F-Score of C's Create Co was 6. The lowest was 4. And the median was 4.


C's Create Co Piotroski F-Score Historical Data

The historical data trend for C's Create 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.

C's Create Co Piotroski F-Score Chart

C's Create Co Annual Data
Trend Jul19 Jul20 Jul21 Jul22 Jul23
Piotroski F-Score
N/A N/A 6.00 4.00 4.00

C's Create Co Semi-Annual Data
Jul19 Jul20 Jan21 Jul21 Jan22 Jul22 Jan23 Jul23 Jan24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only - 4.00 - 4.00 -

Competitive Comparison of C's Create Co's Piotroski F-Score

For the Real Estate Services subindustry, C's Create 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.


C's Create Co's Piotroski F-Score Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, C's Create Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where C's Create 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 (Jul23) TTM:Last Year (Jul22) TTM:
Net Income was 円184 Mil.
Cash Flow from Operations was 円-595 Mil.
Revenue was 円9,991 Mil.
Gross Profit was 円1,532 Mil.
Average Total Assets from the begining of this year (Jul22)
to the end of this year (Jul23) was (7396.92 + 8596.877) / 2 = 円7996.8985 Mil.
Total Assets at the begining of this year (Jul22) was 円7,397 Mil.
Long-Term Debt & Capital Lease Obligation was 円2,822 Mil.
Total Current Assets was 円8,392 Mil.
Total Current Liabilities was 円3,425 Mil.
Net Income was 円210 Mil.

Revenue was 円8,727 Mil.
Gross Profit was 円1,289 Mil.
Average Total Assets from the begining of last year (Jul21)
to the end of last year (Jul22) was (5978.924 + 7396.92) / 2 = 円6687.922 Mil.
Total Assets at the begining of last year (Jul21) was 円5,979 Mil.
Long-Term Debt & Capital Lease Obligation was 円1,976 Mil.
Total Current Assets was 円7,215 Mil.
Total Current Liabilities was 円3,279 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.

C's Create Co's current Net Income (TTM) was 184. ==> 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.

C's Create Co's current Cash Flow from Operations (TTM) was -595. ==> 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 (Jul22)
=184.285/7396.92
=0.02491375

ROA (Last Year)=Net Income/Total Assets (Jul21)
=210.169/5978.924
=0.03515164

C's Create Co's return on assets of this year was 0.02491375. C's Create Co's return on assets of last year was 0.03515164. ==> 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.

C's Create Co's current Net Income (TTM) was 184. C's Create Co's current Cash Flow from Operations (TTM) was -595. ==> -595 <= 184 ==> 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: Jul23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jul22 to Jul23
=2821.895/7996.8985
=0.35287368

Gearing (Last Year: Jul22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jul21 to Jul22
=1975.867/6687.922
=0.2954381

C's Create Co's gearing of this year was 0.35287368. C's Create Co's gearing of last year was 0.2954381. ==> Last year is lower than this year ==> Score 0.

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: Jul23)=Total Current Assets/Total Current Liabilities
=8392.105/3425.243
=2.4500758

Current Ratio (Last Year: Jul22)=Total Current Assets/Total Current Liabilities
=7215.289/3278.888
=2.20052926

C's Create Co's current ratio of this year was 2.4500758. C's Create Co's current ratio of last year was 2.20052926. ==> 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.

C's Create Co's number of shares in issue this year was 0.8. C's Create Co's number of shares in issue last year was 0.822. ==> 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
=1531.923/9990.573
=0.15333685

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1289.036/8727.064
=0.14770557

C's Create Co's gross margin of this year was 0.15333685. C's Create Co's gross margin of last year was 0.14770557. ==> 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 (Jul22)
=9990.573/7396.92
=1.35063959

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jul21)
=8727.064/5978.924
=1.45963789

C's Create Co's asset turnover of this year was 1.35063959. C's Create Co's asset turnover of last year was 1.45963789. ==> 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+0+1+1+1+0
=4

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

C's Create Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.

C's Create Co  (TSE:8921) 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.


C's Create Co Piotroski F-Score Related Terms

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C's Create Co (TSE:8921) Business Description

Comparable Companies
Traded in Other Exchanges
N/A
Address
3-11-11 Shibuya, IVY East Building 7th floor, Shibuya-ku, Tokyo, JPN, 150-0002
C's Create Co Ltd is involved in the business of purchase and resale of renovated condominiums and development and sales of residential or investment condominiums.

C's Create Co (TSE:8921) Headlines

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