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Fintel Energija a.d (XBEL:FINT) Piotroski F-Score : 8 (As of May. 25, 2024)


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What is Fintel Energija a.d 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

Fintel Energija a.d 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 Fintel Energija a.d's Piotroski F-Score or its related term are showing as below:

XBEL:FINT' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 6   Max: 9
Current: 8

During the past 7 years, the highest Piotroski F-Score of Fintel Energija a.d was 9. The lowest was 5. And the median was 6.


Fintel Energija a.d Piotroski F-Score Historical Data

The historical data trend for Fintel Energija a.d'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.

Fintel Energija a.d Piotroski F-Score Chart

Fintel Energija a.d Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial 6.00 5.00 9.00 5.00 8.00

Fintel Energija a.d Quarterly Data
Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Sep21 Dec21 Jun22 Sep22 Dec22 Jun23 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 - - 5.00 - 8.00

Competitive Comparison of Fintel Energija a.d's Piotroski F-Score

For the Utilities - Renewable subindustry, Fintel Energija a.d'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.


Fintel Energija a.d's Piotroski F-Score Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Fintel Energija a.d's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Fintel Energija a.d'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 RSD399 Mil.
Cash Flow from Operations was RSD1,755 Mil.
Revenue was RSD2,715 Mil.
Gross Profit was RSD1,875 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (14108.802 + 13704.525) / 2 = RSD13906.6635 Mil.
Total Assets at the begining of this year (Dec22) was RSD14,109 Mil.
Long-Term Debt & Capital Lease Obligation was RSD8,580 Mil.
Total Current Assets was RSD1,356 Mil.
Total Current Liabilities was RSD1,944 Mil.
Net Income was RSD355 Mil.

Revenue was RSD2,172 Mil.
Gross Profit was RSD1,350 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (14058.637 + 14108.802) / 2 = RSD14083.7195 Mil.
Total Assets at the begining of last year (Dec21) was RSD14,059 Mil.
Long-Term Debt & Capital Lease Obligation was RSD7,977 Mil.
Total Current Assets was RSD1,422 Mil.
Total Current Liabilities was RSD3,696 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.

Fintel Energija a.d's current Net Income (TTM) was 399. ==> 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.

Fintel Energija a.d's current Cash Flow from Operations (TTM) was 1,755. ==> 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)
=399.179/14108.802
=0.02829291

ROA (Last Year)=Net Income/Total Assets (Dec21)
=354.945/14058.637
=0.02524747

Fintel Energija a.d's return on assets of this year was 0.02829291. Fintel Energija a.d's return on assets of last year was 0.02524747. ==> 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.

Fintel Energija a.d's current Net Income (TTM) was 399. Fintel Energija a.d's current Cash Flow from Operations (TTM) was 1,755. ==> 1,755 > 399 ==> 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
=8579.97/13906.6635
=0.61696826

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=7977.234/14083.7195
=0.56641529

Fintel Energija a.d's gearing of this year was 0.61696826. Fintel Energija a.d's gearing of last year was 0.56641529. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=1356.196/1944.495
=0.69745409

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=1421.519/3695.942
=0.38461615

Fintel Energija a.d's current ratio of this year was 0.69745409. Fintel Energija a.d's current ratio of last year was 0.38461615. ==> 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.

Fintel Energija a.d's number of shares in issue this year was 26.511. Fintel Energija a.d's number of shares in issue last year was 26.511. ==> 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
=1874.983/2714.764
=0.69066151

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1349.501/2172.31
=0.62122855

Fintel Energija a.d's gross margin of this year was 0.69066151. Fintel Energija a.d's gross margin of last year was 0.62122855. ==> 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)
=2714.764/14108.802
=0.19241634

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=2172.31/14058.637
=0.15451782

Fintel Energija a.d's asset turnover of this year was 0.19241634. Fintel Energija a.d's asset turnover of last year was 0.15451782. ==> 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+0+1+1+1+1
=8

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

Fintel Energija a.d has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Fintel Energija a.d  (XBEL:FINT) 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.


Fintel Energija a.d Piotroski F-Score Related Terms

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Fintel Energija a.d (XBEL:FINT) Business Description

Traded in Other Exchanges
N/A
Address
Bulevar Mihajla Pupina 115e, 5th Floor, Novi Beograd, SRB, 11000
Fintel Energija a.d is primarily involved in the generation of power business which is sold only to EPS through wind power generation technology. It operates only one operating segment wind renewable energy sector. Currently, the company is engaged in the development, construction, and management of a wind power plant portfolio consisting of new wind farms in the north and northeast of Serbia.

Fintel Energija a.d (XBEL:FINT) Headlines

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