Piotroski F-Score is 8, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
PT Gajah Tunggal Tbk has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for PT Gajah Tunggal Tbk's Piotroski F-Score or its related term are showing as below:
ISX:GJTL'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 9
Current: 8
During the past 13 years, the highest Piotroski F-Score of PT Gajah Tunggal Tbk was 9. The lowest was 3. And the median was 5.
PT Gajah Tunggal Tbk Piotroski F-Score Historical Data
The historical data trend for PT Gajah Tunggal Tbk'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.
Competitive Comparison of PT Gajah Tunggal Tbk's Piotroski F-Score
For the Auto Parts subindustry, PT Gajah Tunggal Tbk'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.
PT Gajah Tunggal Tbk's Piotroski F-Score Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, PT Gajah Tunggal Tbk's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where PT Gajah Tunggal Tbk'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 93406 + 340179 + 481924 + 338848 = Rp1,254,357 Mil. Cash Flow from Operations was 117394 + 791728 + 331276 + 494685 = Rp1,735,083 Mil. Revenue was 3670515 + 4457906 + 4397081 + 4471994 = Rp16,997,496 Mil. Gross Profit was 635781 + 1062832 + 1152795 + 1040540 = Rp3,891,948 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(19174593 + 18803065 + 18815960 + 18975738 + 19116399) / 5 = Rp18977151 Mil. Total Assets at the begining of this year (Mar23) was Rp19,174,593 Mil. Long-Term Debt & Capital Lease Obligation was Rp4,197,339 Mil. Total Current Assets was Rp8,493,414 Mil. Total Current Liabilities was Rp4,406,289 Mil.
Net Income was -135360 + -105457 + -12051 + 265691 = Rp12,823 Mil.
Revenue was 4062675 + 4465242 + 4417764 + 4445161 = Rp17,390,842 Mil. Gross Profit was 472869 + 605785 + 631707 + 881135 = Rp2,591,496 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(18916159 + 19300963 + 19586050 + 19016012 + 19174593) / 5 = Rp19198755.4 Mil. Total Assets at the begining of last year (Mar22) was Rp18,916,159 Mil. Long-Term Debt & Capital Lease Obligation was Rp4,415,623 Mil. Total Current Assets was Rp9,111,695 Mil. Total Current Liabilities was Rp5,542,152 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.
PT Gajah Tunggal Tbk's current Net Income (TTM) was 1,254,357.
==> 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.
PT Gajah Tunggal Tbk's current Cash Flow from Operations (TTM) was 1,735,083.
==> 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.
PT Gajah Tunggal Tbk's return on assets of this year was 0.06541766. PT Gajah Tunggal Tbk's return on assets of last year was 0.00067789.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
PT Gajah Tunggal Tbk's gearing of this year was 0.22117856. PT Gajah Tunggal Tbk's gearing of last year was 0.22999527.
==> 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
PT Gajah Tunggal Tbk's current ratio of this year was 1.92756626. PT Gajah Tunggal Tbk's current ratio of last year was 1.64407165.
==> 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.
PT Gajah Tunggal Tbk's number of shares in issue this year was 3484.409. PT Gajah Tunggal Tbk's number of shares in issue last year was 3484.409.
==> 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.
PT Gajah Tunggal Tbk's gross margin of this year was 0.22897184. PT Gajah Tunggal Tbk's gross margin of last year was 0.14901498.
==> 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
PT Gajah Tunggal Tbk's asset turnover of this year was 0.88645928. PT Gajah Tunggal Tbk's asset turnover of last year was 0.91936434.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
=
Que. 1
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Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
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Que. 6
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Que. 7
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Que. 8
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Que. 9
=
1
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1
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1
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1
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1
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1
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1
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1
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0
=
8
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
PT Gajah Tunggal Tbk has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
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.
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.
PT Gajah Tunggal Tbk Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of PT Gajah Tunggal Tbk's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
PT Gajah Tunggal Tbk (ISX:GJTL) Business Description
PT Gajah Tunggal Tbk is a tire manufacturer in Indonesia. Its operating segment consists of the manufacturing of tire, tire cord, synthetic rubber, nylon yarn, and others. The tires are used for passenger and commercial vehicles which include passenger car, truck, bus, motorcycles, and others. The business and sales activities are performed through various countries such as Asia, America, Europe, Middle East, Africa, Australia, and Oceania under the brand GT Radial, Gajah Tunggal, IRC, and Zeneos. It derives a vast majority of its revenue from the manufacture of tires in Java.
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