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Megmilk Snow Brand Co (TSE:2270) Piotroski F-Score : 8 (As of May. 19, 2024)


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What is Megmilk Snow Brand Co Piotroski F-Score?

Good Sign:

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

Megmilk Snow Brand Co 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 Megmilk Snow Brand Co's Piotroski F-Score or its related term are showing as below:

TSE:2270' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 7   Max: 9
Current: 8

During the past 13 years, the highest Piotroski F-Score of Megmilk Snow Brand Co was 9. The lowest was 5. And the median was 7.


Megmilk Snow Brand Co Piotroski F-Score Historical Data

The historical data trend for Megmilk Snow Brand 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.

Megmilk Snow Brand Co Piotroski F-Score Chart

Megmilk Snow Brand Co Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 7.00 5.00 5.00 8.00

Megmilk Snow Brand 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 5.00 6.00 8.00 9.00 8.00

Competitive Comparison of Megmilk Snow Brand Co's Piotroski F-Score

For the Packaged Foods subindustry, Megmilk Snow Brand 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.


Megmilk Snow Brand Co's Piotroski F-Score Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Megmilk Snow Brand Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Megmilk Snow Brand 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 3588 + 4110 + 3700 + 8032 = 円19,430 Mil.
Cash Flow from Operations was 5222 + 5624 + 9686 + 9933 = 円30,465 Mil.
Revenue was 150185 + 155484 + 154809 + 144946 = 円605,424 Mil.
Gross Profit was 25328 + 25029 + 24957 + 22968 = 円98,282 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(410130 + 420420 + 425884 + 427185 + 431222) / 5 = 円422968.2 Mil.
Total Assets at the begining of this year (Mar23) was 円410,130 Mil.
Long-Term Debt & Capital Lease Obligation was 円47,866 Mil.
Total Current Assets was 円181,767 Mil.
Total Current Liabilities was 円122,474 Mil.
Net Income was 1343 + 958 + 3607 + 3221 = 円9,129 Mil.

Revenue was 141344 + 147720 + 151238 + 144006 = 円584,308 Mil.
Gross Profit was 22963 + 21780 + 22274 + 20174 = 円87,191 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(401890 + 397432 + 403787 + 418413 + 410130) / 5 = 円406330.4 Mil.
Total Assets at the begining of last year (Mar22) was 円401,890 Mil.
Long-Term Debt & Capital Lease Obligation was 円51,233 Mil.
Total Current Assets was 円164,163 Mil.
Total Current Liabilities was 円116,904 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.

Megmilk Snow Brand Co's current Net Income (TTM) was 19,430. ==> 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.

Megmilk Snow Brand Co's current Cash Flow from Operations (TTM) was 30,465. ==> 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 (Mar23)
=19430/410130
=0.04737522

ROA (Last Year)=Net Income/Total Assets (Mar22)
=9129/401890
=0.02271517

Megmilk Snow Brand Co's return on assets of this year was 0.04737522. Megmilk Snow Brand Co's return on assets of last year was 0.02271517. ==> 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.

Megmilk Snow Brand Co's current Net Income (TTM) was 19,430. Megmilk Snow Brand Co's current Cash Flow from Operations (TTM) was 30,465. ==> 30,465 > 19,430 ==> CFROA > ROA ==> Score 1.

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
=47866/422968.2
=0.1131669

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=51233/406330.4
=0.12608705

Megmilk Snow Brand Co's gearing of this year was 0.1131669. Megmilk Snow Brand Co's gearing of last year was 0.12608705. ==> 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

Current Ratio (This Year: Mar24)=Total Current Assets/Total Current Liabilities
=181767/122474
=1.48412724

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=164163/116904
=1.40425477

Megmilk Snow Brand Co's current ratio of this year was 1.48412724. Megmilk Snow Brand Co's current ratio of last year was 1.40425477. ==> 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.

Megmilk Snow Brand Co's number of shares in issue this year was 67.545. Megmilk Snow Brand Co's number of shares in issue last year was 67.543. ==> 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
=98282/605424
=0.16233582

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=87191/584308
=0.14922096

Megmilk Snow Brand Co's gross margin of this year was 0.16233582. Megmilk Snow Brand Co's gross margin of last year was 0.14922096. ==> 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 (Mar23)
=605424/410130
=1.47617585

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=584308/401890
=1.45390032

Megmilk Snow Brand Co's asset turnover of this year was 1.47617585. Megmilk Snow Brand Co's asset turnover of last year was 1.45390032. ==> 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+1+1+1+1+0+1+1
=8

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

Megmilk Snow Brand Co has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Megmilk Snow Brand Co  (TSE:2270) 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.


Megmilk Snow Brand Co Piotroski F-Score Related Terms

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Megmilk Snow Brand Co (TSE:2270) Business Description

Traded in Other Exchanges
Address
5-1, Yotsuya, Honshio-cho, Shinjuku-ku, Tokyo, JPN, 160-8575
Megmilk Snow Brand Co Ltd is involved in manufacturing and selling cow's milk, milk products and other foods. The company has Dairy products, Beverages and Desserts, Feedstuffs and Seed products and International business domains. Its products include producing and selling of butter, margarine, processed cheese, natural cheese and condensed and skim milk, yogurts etc. The firm also operates in nutrition business, dairy products business and functional ingredients business.

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