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JESCO Holdings (TSE:1434) Piotroski F-Score : 4 (As of May. 25, 2024)


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What is JESCO Holdings 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

JESCO Holdings 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 JESCO Holdings's Piotroski F-Score or its related term are showing as below:

TSE:1434' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 3   Max: 6
Current: 4

During the past 10 years, the highest Piotroski F-Score of JESCO Holdings was 6. The lowest was 1. And the median was 3.


JESCO Holdings Piotroski F-Score Historical Data

The historical data trend for JESCO Holdings'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.

JESCO Holdings Piotroski F-Score Chart

JESCO Holdings Annual Data
Trend Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 3.00 5.00 6.00 4.00

JESCO Holdings Quarterly Data
May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24
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 - -

Competitive Comparison of JESCO Holdings's Piotroski F-Score

For the Engineering & Construction subindustry, JESCO Holdings'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.


JESCO Holdings's Piotroski F-Score Distribution in the Construction Industry

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

* The bar in red indicates where JESCO Holdings'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 (Aug23) TTM:Last Year (Aug22) TTM:
Net Income was 円1,182 Mil.
Cash Flow from Operations was 円-2,403 Mil.
Revenue was 円11,104 Mil.
Gross Profit was 円1,731 Mil.
Average Total Assets from the begining of this year (Aug22)
to the end of this year (Aug23) was (13466.618 + 16771.154) / 2 = 円15118.886 Mil.
Total Assets at the begining of this year (Aug22) was 円13,467 Mil.
Long-Term Debt & Capital Lease Obligation was 円4,202 Mil.
Total Current Assets was 円9,447 Mil.
Total Current Liabilities was 円5,004 Mil.
Net Income was 円513 Mil.

Revenue was 円10,381 Mil.
Gross Profit was 円1,579 Mil.
Average Total Assets from the begining of last year (Aug21)
to the end of last year (Aug22) was (11795.871 + 13466.618) / 2 = 円12631.2445 Mil.
Total Assets at the begining of last year (Aug21) was 円11,796 Mil.
Long-Term Debt & Capital Lease Obligation was 円3,034 Mil.
Total Current Assets was 円5,578 Mil.
Total Current Liabilities was 円4,788 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.

JESCO Holdings's current Net Income (TTM) was 1,182. ==> 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.

JESCO Holdings's current Cash Flow from Operations (TTM) was -2,403. ==> 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 (Aug22)
=1182.156/13466.618
=0.08778418

ROA (Last Year)=Net Income/Total Assets (Aug21)
=512.71/11795.871
=0.04346521

JESCO Holdings's return on assets of this year was 0.08778418. JESCO Holdings's return on assets of last year was 0.04346521. ==> This year is higher. ==> Score 1.

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.

JESCO Holdings's current Net Income (TTM) was 1,182. JESCO Holdings's current Cash Flow from Operations (TTM) was -2,403. ==> -2,403 <= 1,182 ==> 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: Aug23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Aug22 to Aug23
=4202.016/15118.886
=0.27793159

Gearing (Last Year: Aug22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Aug21 to Aug22
=3033.9/12631.2445
=0.24019011

JESCO Holdings's gearing of this year was 0.27793159. JESCO Holdings's gearing of last year was 0.24019011. ==> 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: Aug23)=Total Current Assets/Total Current Liabilities
=9447.295/5004.241
=1.88785772

Current Ratio (Last Year: Aug22)=Total Current Assets/Total Current Liabilities
=5577.843/4788.255
=1.16490099

JESCO Holdings's current ratio of this year was 1.88785772. JESCO Holdings's current ratio of last year was 1.16490099. ==> 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.

JESCO Holdings's number of shares in issue this year was 6.829. JESCO Holdings's number of shares in issue last year was 6.75. ==> 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
=1731.044/11104.493
=0.15588681

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1579.095/10381.039
=0.15211339

JESCO Holdings's gross margin of this year was 0.15588681. JESCO Holdings's gross margin of last year was 0.15211339. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Aug22)
=11104.493/13466.618
=0.82459404

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Aug21)
=10381.039/11795.871
=0.88005701

JESCO Holdings's asset turnover of this year was 0.82459404. JESCO Holdings's asset turnover of last year was 0.88005701. ==> 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+1+0+0+1+0+1+0
=4

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

JESCO Holdings has an F-score of 4 indicating the company's financial situation is typical for a stable company.

JESCO Holdings  (TSE:1434) 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.


JESCO Holdings Piotroski F-Score Related Terms

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JESCO Holdings (TSE:1434) Business Description

Traded in Other Exchanges
N/A
Address
21-1 Kita Shinjuku 2-chome Shinjuku-ku, Shinjuku Front Tower, 23rd Floor, Tokyo, JPN, 169-0074
JESCO Holdings Inc is an engineering technology company that handles the design, construction, maintenance, and maintenance related to the facilities of electricity and communication. It is engaged in engineering, procurement, and construction (EPC), Association of Southeast Asian Nations (ASEAN) EPC, and general media business. The ASEAN EPC project focuses on power plants, airports, factories, commercial facilities, and road accompaniment facilities. It also has integrated media business in which it sells large image equipment.

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