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Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario (BSP:KIVO11) Piotroski F-Score : 5 (As of Jun. 06, 2024)


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What is Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario 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

Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's Piotroski F-Score or its related term are showing as below:

BSP:KIVO11' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 5   Max: 5
Current: 5

During the past 3 years, the highest Piotroski F-Score of Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario was 5. The lowest was 5. And the median was 5.


Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario Piotroski F-Score Historical Data

The historical data trend for Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario'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.

Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario Piotroski F-Score Chart

Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario Annual Data
Trend Dec21 Dec22 Dec23
Piotroski F-Score
N/A N/A 5.00

Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario Quarterly Data
Dec21 Dec22 Dec23
Piotroski F-Score N/A N/A 5.00

Competitive Comparison of Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's Piotroski F-Score

For the REIT - Diversified subindustry, Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario'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.


Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's Piotroski F-Score Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario'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 R$12.75 Mil.
Cash Flow from Operations was R$-1.21 Mil.
Revenue was R$13.12 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (119.519 + 112.984) / 2 = R$116.2515 Mil.
Total Assets at the begining of this year (Dec22) was R$119.52 Mil.
Long-Term Debt & Capital Lease Obligation was R$0.00 Mil.
Total Assets was R$112.98 Mil.
Total Liabilities was R$1.86 Mil.
Net Income was R$8.52 Mil.

Revenue was R$9.07 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (35.94 + 119.519) / 2 = R$77.7295 Mil.
Total Assets at the begining of last year (Dec21) was R$35.94 Mil.
Long-Term Debt & Capital Lease Obligation was R$0.00 Mil.
Total Assets was R$119.52 Mil.
Total Liabilities was R$2.21 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.

Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's current Net Income (TTM) was 12.75. ==> 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.

Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's current Cash Flow from Operations (TTM) was -1.21. ==> 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 (Dec22)
=12.745/119.519
=0.10663577

ROA (Last Year)=Net Income/Total Assets (Dec21)
=8.515/35.94
=0.23692265

Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's return on assets of this year was 0.10663577. Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's return on assets of last year was 0.23692265. ==> 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.

Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's current Net Income (TTM) was 12.75. Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's current Cash Flow from Operations (TTM) was -1.21. ==> -1.21 <= 12.75 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=0/116.2515
=0

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=0/77.7295
=0

Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's gearing of this year was 0. Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's gearing of last year was 0. ==> 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

* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.

Current Ratio (This Year: Dec23)=Total Assets/Total Liabilities
=112.984/1.856
=60.875

Current Ratio (Last Year: Dec22)=Total Assets/Total Liabilities
=119.519/2.211
=54.0565355

Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's current ratio of this year was 60.875. Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's current ratio of last year was 54.0565355. ==> 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.

Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's number of shares in issue this year was 1.215. Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's number of shares in issue last year was 1.215. ==> 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.

* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.

Net Margin (This Year: TTM)=Net Income/Revenue
=12.745/13.116
=0.97171394

Net Margin (Last Year: TTM)=Net Income/Revenue
=8.515/9.071
=0.93870577

Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's net margin of this year was 0.97171394. Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's net margin of last year was 0.93870577. ==> This year's net 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 (Dec22)
=13.116/119.519
=0.10973987

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=9.071/35.94
=0.25239288

Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's asset turnover of this year was 0.10973987. Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario's asset turnover of last year was 0.25239288. ==> 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+1+1+0
=5

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

Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario  (BSP:KIVO11) 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.


Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario Piotroski F-Score Related Terms

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Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario (BSP:KIVO11) Business Description

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Kilima Volkano Recebiveis Imobiliarios Fundo De Investimen Imobiliario its objective is to obtain income, through the investment of resources.

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