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P.A. Resources Bhd (XKLS:7225) Piotroski F-Score : 4 (As of May. 12, 2024)


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What is P.A. Resources Bhd 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

P.A. Resources Bhd 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 P.A. Resources Bhd's Piotroski F-Score or its related term are showing as below:

XKLS:7225' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 8
Current: 4

During the past 13 years, the highest Piotroski F-Score of P.A. Resources Bhd was 8. The lowest was 3. And the median was 5.


P.A. Resources Bhd Piotroski F-Score Historical Data

The historical data trend for P.A. Resources Bhd'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.

P.A. Resources Bhd Piotroski F-Score Chart

P.A. Resources Bhd Annual Data
Trend Mar13 Mar14 Mar15 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 8.00 7.00 3.00 6.00

P.A. Resources Bhd 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 4.00 4.00 6.00 4.00 4.00

Competitive Comparison of P.A. Resources Bhd's Piotroski F-Score

For the Metal Fabrication subindustry, P.A. Resources Bhd'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.


P.A. Resources Bhd's Piotroski F-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, P.A. Resources Bhd's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where P.A. Resources Bhd'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 (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was 0.239 + 3.347 + 8.662 + 11.352 = RM23.6 Mil.
Cash Flow from Operations was 8.205 + -8.02 + 8.503 + 19.338 = RM28.0 Mil.
Revenue was 84.81 + 104.518 + 129.42 + 150.657 = RM469.4 Mil.
Gross Profit was 4.652 + 13.545 + 14.953 + 22.538 = RM55.7 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(301.167 + 297.076 + 298.747 + 325.957 + 319.404) / 5 = RM308.4702 Mil.
Total Assets at the begining of this year (Dec22) was RM301.2 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.6 Mil.
Total Current Assets was RM225.5 Mil.
Total Current Liabilities was RM31.3 Mil.
Net Income was 10.379 + 9.923 + 15.15 + 12.636 = RM48.1 Mil.

Revenue was 121.199 + 116.147 + 138.331 + 133.848 = RM509.5 Mil.
Gross Profit was 12.987 + 10.322 + 16.48 + 22.225 = RM62.0 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(232.981 + 251.678 + 267.211 + 285.865 + 301.167) / 5 = RM267.7804 Mil.
Total Assets at the begining of last year (Dec21) was RM233.0 Mil.
Long-Term Debt & Capital Lease Obligation was RM3.9 Mil.
Total Current Assets was RM200.0 Mil.
Total Current Liabilities was RM22.1 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.

P.A. Resources Bhd's current Net Income (TTM) was 23.6. ==> 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.

Score 1 if positive, 0 if negative.

P.A. Resources Bhd's current Cash Flow from Operations (TTM) was 28.0. ==> 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 (Dec22)
=23.6/301.167
=0.07836184

ROA (Last Year)=Net Income/Total Assets (Dec21)
=48.088/232.981
=0.2064031

P.A. Resources Bhd's return on assets of this year was 0.07836184. P.A. Resources Bhd's return on assets of last year was 0.2064031. ==> 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.

P.A. Resources Bhd's current Net Income (TTM) was 23.6. P.A. Resources Bhd's current Cash Flow from Operations (TTM) was 28.0. ==> 28.0 > 23.6 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=0.621/308.4702
=0.00201316

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=3.87/267.7804
=0.01445214

P.A. Resources Bhd's gearing of this year was 0.00201316. P.A. Resources Bhd's gearing of last year was 0.01445214. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=225.548/31.279
=7.21084434

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=200.003/22.094
=9.05236716

P.A. Resources Bhd's current ratio of this year was 7.21084434. P.A. Resources Bhd's current ratio of last year was 9.05236716. ==> 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.

P.A. Resources Bhd's number of shares in issue this year was 1500.146. P.A. Resources Bhd's number of shares in issue last year was 1328.396. ==> 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
=55.688/469.405
=0.11863529

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=62.014/509.525
=0.12170944

P.A. Resources Bhd's gross margin of this year was 0.11863529. P.A. Resources Bhd's gross margin of last year was 0.12170944. ==> 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 (Dec22)
=469.405/301.167
=1.5586203

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=509.525/232.981
=2.18698091

P.A. Resources Bhd's asset turnover of this year was 1.5586203. P.A. Resources Bhd's asset turnover of last year was 2.18698091. ==> 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+1+1+0+0+0+0
=4

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

P.A. Resources Bhd has an F-score of 4 indicating the company's financial situation is typical for a stable company.

P.A. Resources Bhd  (XKLS:7225) 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.


P.A. Resources Bhd Piotroski F-Score Related Terms

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P.A. Resources Bhd (XKLS:7225) Business Description

Traded in Other Exchanges
N/A
Address
Jalan Kuala Selangor, Lot 424 and 440, Kampung Batu 8, Ijok, Kuala Selangor, SGR, MYS, 45620
P.A. Resources Bhd is an aluminium extruder company that produces semi-finished aluminium products which are into aluminium smelting, producing aluminium billets. The company's operating segment includes aluminium extrusion and fabrication; aluminium billet casting and tolling; Money lending and others. It generates maximum revenue from the aluminium extrusion and fabrication segment. The company's product is used in the electrical and electronics, furniture, and consumer durables industries. Geographically, it derives a majority of its revenue from the United States of America.

P.A. Resources Bhd (XKLS:7225) Headlines

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