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Hanshin Construction Co (XKRX:004960) Piotroski F-Score : 2 (As of Jun. 03, 2024)


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What is Hanshin Construction Co Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 2 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

Hanshin Construction Co has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

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

XKRX:004960' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 9
Current: 2

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


Hanshin Construction Co Piotroski F-Score Historical Data

The historical data trend for Hanshin Construction 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.

Hanshin Construction Co Piotroski F-Score Chart

Hanshin Construction Co 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 3.00 9.00 2.00 4.00 3.00

Hanshin Construction Co 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 3.00 3.00 5.00 3.00 2.00

Competitive Comparison of Hanshin Construction Co's Piotroski F-Score

For the Engineering & Construction subindustry, Hanshin Construction 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.


Hanshin Construction Co's Piotroski F-Score Distribution in the Construction Industry

For the Construction industry and Industrials sector, Hanshin Construction Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Hanshin Construction 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 (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was 2364.81 + 3158.295 + 21934.336 + 5230.02 = ₩32,687 Mil.
Cash Flow from Operations was -27840.3 + 8566.808 + -116649.652 + 35232.536 = ₩-100,691 Mil.
Revenue was 347446.237 + 329759.068 + 317881.941 + 289285.443 = ₩1,284,373 Mil.
Gross Profit was 26660.003 + 27091.334 + 13080.248 + 25787.089 = ₩92,619 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(2524719.847 + 2484332.415 + 2525588.089 + 2468946.95 + 2629614.663) / 5 = ₩2526640.3928 Mil.
Total Assets at the begining of this year (Mar23) was ₩2,524,720 Mil.
Long-Term Debt & Capital Lease Obligation was ₩556,328 Mil.
Total Current Assets was ₩1,861,550 Mil.
Total Current Liabilities was ₩1,210,334 Mil.
Net Income was 4441.249 + 6149.405 + 24343.098 + 4440.718 = ₩39,374 Mil.

Revenue was 351565.219 + 250193.541 + 339437.388 + 313921.277 = ₩1,255,117 Mil.
Gross Profit was 28319.807 + 27309.606 + 37643.346 + 22334.837 = ₩115,608 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(2180075.851 + 2287636.264 + 2262052.454 + 2349398.105 + 2524719.847) / 5 = ₩2320776.5042 Mil.
Total Assets at the begining of last year (Mar22) was ₩2,180,076 Mil.
Long-Term Debt & Capital Lease Obligation was ₩388,232 Mil.
Total Current Assets was ₩1,680,424 Mil.
Total Current Liabilities was ₩1,307,755 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.

Hanshin Construction Co's current Net Income (TTM) was 32,687. ==> 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.

Hanshin Construction Co's current Cash Flow from Operations (TTM) was -100,691. ==> 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 (Mar23)
=32687.461/2524719.847
=0.01294697

ROA (Last Year)=Net Income/Total Assets (Mar22)
=39374.47/2180075.851
=0.01806106

Hanshin Construction Co's return on assets of this year was 0.01294697. Hanshin Construction Co's return on assets of last year was 0.01806106. ==> 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.

Hanshin Construction Co's current Net Income (TTM) was 32,687. Hanshin Construction Co's current Cash Flow from Operations (TTM) was -100,691. ==> -100,691 <= 32,687 ==> 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
=556327.549/2526640.3928
=0.2201847

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=388231.641/2320776.5042
=0.16728523

Hanshin Construction Co's gearing of this year was 0.2201847. Hanshin Construction Co's gearing of last year was 0.16728523. ==> 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: Mar24)=Total Current Assets/Total Current Liabilities
=1861549.87/1210333.995
=1.53804642

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=1680423.507/1307754.586
=1.28496854

Hanshin Construction Co's current ratio of this year was 1.53804642. Hanshin Construction Co's current ratio of last year was 1.28496854. ==> 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.

Hanshin Construction Co's number of shares in issue this year was 11.571. Hanshin Construction Co's number of shares in issue last year was 11.564. ==> 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
=92618.674/1284372.689
=0.07211199

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=115607.596/1255117.425
=0.09210899

Hanshin Construction Co's gross margin of this year was 0.07211199. Hanshin Construction Co's gross margin of last year was 0.09210899. ==> 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)
=1284372.689/2524719.847
=0.50871889

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=1255117.425/2180075.851
=0.57572191

Hanshin Construction Co's asset turnover of this year was 0.50871889. Hanshin Construction Co's asset turnover of last year was 0.57572191. ==> 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+0+0+0
=2

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

Hanshin Construction Co has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

Hanshin Construction Co  (XKRX:004960) 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.


Hanshin Construction Co Piotroski F-Score Related Terms

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Hanshin Construction Co (XKRX:004960) Business Description

Traded in Other Exchanges
N/A
Address
15-1 Baegamri baegam-myeon, Cheoin-gu, Yong-in, Gyeonggi-do, KOR
Hanshin Construction Co Ltd is a Korea-based company engaged in the construction works. The company's business area consists of civil works, electricity and plant, remodeling and overseas. It is into the construction of housings and apartments, office buildings, cultural facilities, such as shopping centers, sports centers, and hospitals. The company also provides civil works comprising highways, waterworks, water-purifiers, railways, subways, and bridges. Additionally, its electricity and plant business include transformer substation and electric railway lines. It also renders remodeling services in various fields such as constructions, buildings, and interiors.

Hanshin Construction Co (XKRX:004960) Headlines

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