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Sumitomo Rubber Industries (TSE:5110) Piotroski F-Score : 7 (As of May. 14, 2024)


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What is Sumitomo Rubber Industries Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, 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

Sumitomo Rubber Industries has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Sumitomo Rubber Industries's Piotroski F-Score or its related term are showing as below:

TSE:5110' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 7
Current: 7

During the past 13 years, the highest Piotroski F-Score of Sumitomo Rubber Industries was 7. The lowest was 4. And the median was 6.


Sumitomo Rubber Industries Piotroski F-Score Historical Data

The historical data trend for Sumitomo Rubber Industries'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.

Sumitomo Rubber Industries Piotroski F-Score Chart

Sumitomo Rubber Industries Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 7.00 7.00 4.00 7.00

Sumitomo Rubber Industries Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 3.00 4.00 5.00 7.00

Competitive Comparison of Sumitomo Rubber Industries's Piotroski F-Score

For the Auto Parts subindustry, Sumitomo Rubber Industries'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.


Sumitomo Rubber Industries's Piotroski F-Score Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Sumitomo Rubber Industries's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Sumitomo Rubber Industries'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 4006 + 4190 + 19009 + 9843 = 円37,048 Mil.
Cash Flow from Operations was 10507 + 45360 + 53815 + 60118 = 円169,800 Mil.
Revenue was 276761 + 284400 + 289541 + 326697 = 円1,177,399 Mil.
Gross Profit was 67103 + 69289 + 84587 + 105522 = 円326,501 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(1225202 + 1242701 + 1249782 + 1285117 + 1266732) / 5 = 円1253906.8 Mil.
Total Assets at the begining of this year (Dec22) was 円1,225,202 Mil.
Long-Term Debt & Capital Lease Obligation was 円184,166 Mil.
Total Current Assets was 円624,719 Mil.
Total Current Liabilities was 円331,089 Mil.
Net Income was 11754 + 5433 + -2815 + -4957 = 円9,415 Mil.

Revenue was 250501 + 261611 + 269400 + 317152 = 円1,098,664 Mil.
Gross Profit was 69543 + 58368 + 55483 + 69828 = 円253,222 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(1086169 + 1168070 + 1244142 + 1274971 + 1225202) / 5 = 円1199710.8 Mil.
Total Assets at the begining of last year (Dec21) was 円1,086,169 Mil.
Long-Term Debt & Capital Lease Obligation was 円210,907 Mil.
Total Current Assets was 円623,899 Mil.
Total Current Liabilities was 円352,908 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.

Sumitomo Rubber Industries's current Net Income (TTM) was 37,048. ==> 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.

Sumitomo Rubber Industries's current Cash Flow from Operations (TTM) was 169,800. ==> 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)
=37048/1225202
=0.03023828

ROA (Last Year)=Net Income/Total Assets (Dec21)
=9415/1086169
=0.00866808

Sumitomo Rubber Industries's return on assets of this year was 0.03023828. Sumitomo Rubber Industries's return on assets of last year was 0.00866808. ==> 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.

Sumitomo Rubber Industries's current Net Income (TTM) was 37,048. Sumitomo Rubber Industries's current Cash Flow from Operations (TTM) was 169,800. ==> 169,800 > 37,048 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=184166/1253906.8
=0.14687375

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=210907/1199710.8
=0.1757982

Sumitomo Rubber Industries's gearing of this year was 0.14687375. Sumitomo Rubber Industries's gearing of last year was 0.1757982. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=624719/331089
=1.88686124

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=623899/352908
=1.76788001

Sumitomo Rubber Industries's current ratio of this year was 1.88686124. Sumitomo Rubber Industries's current ratio of last year was 1.76788001. ==> 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.

Sumitomo Rubber Industries's number of shares in issue this year was 263.018. Sumitomo Rubber Industries's number of shares in issue last year was 263.008. ==> 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
=326501/1177399
=0.27730701

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=253222/1098664
=0.23048175

Sumitomo Rubber Industries's gross margin of this year was 0.27730701. Sumitomo Rubber Industries's gross margin of last year was 0.23048175. ==> 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 (Dec22)
=1177399/1225202
=0.96098358

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=1098664/1086169
=1.01150373

Sumitomo Rubber Industries's asset turnover of this year was 0.96098358. Sumitomo Rubber Industries's asset turnover of last year was 1.01150373. ==> 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+1+1+1+1+1+0+1+0
=7

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

Sumitomo Rubber Industries has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Sumitomo Rubber Industries  (TSE:5110) 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.


Sumitomo Rubber Industries Piotroski F-Score Related Terms

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Sumitomo Rubber Industries (TSE:5110) Business Description

Traded in Other Exchanges
Address
3-6-9, Wakinohama-cho, Chuo-ku, Hyogo, Kobe, JPN, 651-0072
Sumitomo Rubber Industries makes and sells rubber tires, sports equipment, and other products in three segments based on product type. The tire segment, which generates the majority of revenue, sells rubber tires for automobiles and motorcycles under the Dunlop and Falken brand names. The sports segment sells golf, tennis, and fitness equipment under the Srixon, XXIO, Cleveland, and Dunlop brand names. The industrial and other products segment sells rubber parts for printers, artificial turf for sporting use, floor coating materials, portable ramps, gloves, tubes, and valves. More revenue comes from Japan than any other region.

Sumitomo Rubber Industries (TSE:5110) Headlines

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