GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » PT Mandiri Herindo Adiperkasa Tbk (ISX:MAHA) » Definitions » Piotroski F-Score

PT Mandiri Herindo Adiperkasa Tbk (ISX:MAHA) Piotroski F-Score : 5 (As of May. 17, 2024)


View and export this data going back to 2023. Start your Free Trial

What is PT Mandiri Herindo Adiperkasa Tbk 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

PT Mandiri Herindo Adiperkasa Tbk 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 PT Mandiri Herindo Adiperkasa Tbk's Piotroski F-Score or its related term are showing as below:

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

During the past 4 years, the highest Piotroski F-Score of PT Mandiri Herindo Adiperkasa Tbk was 5. The lowest was 5. And the median was 5.


PT Mandiri Herindo Adiperkasa Tbk Piotroski F-Score Historical Data

The historical data trend for PT Mandiri Herindo Adiperkasa 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.

* Premium members only.

PT Mandiri Herindo Adiperkasa Tbk Piotroski F-Score Chart

PT Mandiri Herindo Adiperkasa Tbk Annual Data
Trend Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
N/A N/A N/A N/A

PT Mandiri Herindo Adiperkasa Tbk Quarterly Data
Dec20 Dec21 Mar22 Sep22 Dec22 Mar23 Sep23 Dec23 Mar24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only N/A N/A N/A N/A 5.00

Competitive Comparison of PT Mandiri Herindo Adiperkasa Tbk's Piotroski F-Score

For the Trucking subindustry, PT Mandiri Herindo Adiperkasa 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 Mandiri Herindo Adiperkasa Tbk's Piotroski F-Score Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, PT Mandiri Herindo Adiperkasa Tbk's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where PT Mandiri Herindo Adiperkasa 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 (Dec22) TTM:
Net Income was 41026.288 + 0 + 145488.541 + 73204.886 = Rp259,720 Mil.
Cash Flow from Operations was 114606.254 + 0 + 0 + 70537.818 = Rp185,144 Mil.
Revenue was 455360.615 + 0 + 579853.275 + 622679.482 = Rp1,657,893 Mil.
Gross Profit was 117478.676 + 0 + 162281.274 + 133560.068 = Rp413,320 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Mar24) was
(1606541.841 + 1728663.66 + 2382310.078 + 2553935.153 + 2588013.081) / 5 = Rp2171892.7626 Mil.
Total Assets at the begining of this year (Dec22) was Rp1,606,542 Mil.
Long-Term Debt & Capital Lease Obligation was Rp179,444 Mil.
Total Current Assets was Rp943,527 Mil.
Total Current Liabilities was Rp491,007 Mil.
Net Income was 0 + 32607.282 + 0 + 130267.68 = Rp162,875 Mil.

Revenue was 0 + 305133.999 + 0 + 487729.119 = Rp792,863 Mil.
Gross Profit was 0 + 61366.71 + 0 + 159139.616 = Rp220,506 Mil.
Average Total Assets from the begining of last year (Dec20)
to the end of last year (Dec22) was
(786166.973 + 1070721.727 + 0 + 0 + 1606541.841) / 5 = Rp1154476.847 Mil.
Total Assets at the begining of last year (Dec20) was Rp786,167 Mil.
Long-Term Debt & Capital Lease Obligation was Rp63,081 Mil.
Total Current Assets was Rp500,644 Mil.
Total Current Liabilities was Rp364,852 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 Mandiri Herindo Adiperkasa Tbk's current Net Income (TTM) was 259,720. ==> 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 Mandiri Herindo Adiperkasa Tbk's current Cash Flow from Operations (TTM) was 185,144. ==> 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)
=259719.715/1606541.841
=0.16166383

ROA (Last Year)=Net Income/Total Assets (Dec20)
=162874.962/786166.973
=0.20717604

PT Mandiri Herindo Adiperkasa Tbk's return on assets of this year was 0.16166383. PT Mandiri Herindo Adiperkasa Tbk's return on assets of last year was 0.20717604. ==> 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.

PT Mandiri Herindo Adiperkasa Tbk's current Net Income (TTM) was 259,720. PT Mandiri Herindo Adiperkasa Tbk's current Cash Flow from Operations (TTM) was 185,144. ==> 185,144 <= 259,720 ==> 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 Dec22 to Mar24
=179444.221/2171892.7626
=0.08262112

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec20 to Dec22
=63080.623/1154476.847
=0.05464001

PT Mandiri Herindo Adiperkasa Tbk's gearing of this year was 0.08262112. PT Mandiri Herindo Adiperkasa Tbk's gearing of last year was 0.05464001. ==> 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
=943526.809/491006.932
=1.92161607

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=500644.287/364851.949
=1.37218477

PT Mandiri Herindo Adiperkasa Tbk's current ratio of this year was 1.92161607. PT Mandiri Herindo Adiperkasa Tbk's current ratio of last year was 1.37218477. ==> 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 Mandiri Herindo Adiperkasa Tbk's number of shares in issue this year was 16666. PT Mandiri Herindo Adiperkasa Tbk's number of shares in issue last year was 16666. ==> 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
=413320.018/1657893.372
=0.24930434

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=220506.326/792863.118
=0.27811399

PT Mandiri Herindo Adiperkasa Tbk's gross margin of this year was 0.24930434. PT Mandiri Herindo Adiperkasa Tbk's gross margin of last year was 0.27811399. ==> 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)
=1657893.372/1606541.841
=1.03196402

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec20)
=792863.118/786166.973
=1.00851746

PT Mandiri Herindo Adiperkasa Tbk's asset turnover of this year was 1.03196402. PT Mandiri Herindo Adiperkasa Tbk's asset turnover of last year was 1.00851746. ==> This year's asset turnover is higher. ==> Score 1.

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+0+0+1+1+0+1
=5

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

PT Mandiri Herindo Adiperkasa Tbk has an F-score of 5 indicating the company's financial situation is typical for a stable company.

PT Mandiri Herindo Adiperkasa Tbk  (ISX:MAHA) 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.


PT Mandiri Herindo Adiperkasa Tbk Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of PT Mandiri Herindo Adiperkasa Tbk's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


PT Mandiri Herindo Adiperkasa Tbk (ISX:MAHA) Business Description

Traded in Other Exchanges
N/A
Address
Senopati Raya No. 8B, Office 8, Floor 31, SCBD Lot 28, Jakarta, IDN, 12190
PT Mandiri Herindo Adiperkasa Tbk is one of the mineral and coal transportation service providers, supported by resources and professional personnel with integrity. Mandiri Services strives to provide safe, efficient, and effective mining services. Its focus is to provide prosperity and energy to the people of Indonesia through consistent and sustainable innovation toward a better future. The company focuses on coal hauling service activities after overburden removal activities are carried out by contractors. The Company also has several types of units in the implementation of coal transportation services, namely single trailers, double trailers and dump trucks with variations in payload capacity and equipment specifications according to the needs of the employer.

PT Mandiri Herindo Adiperkasa Tbk (ISX:MAHA) Headlines

No Headlines