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Modern Plant Based Foods (XCNQ:MEAT) Piotroski F-Score : 4 (As of May. 10, 2024)


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What is Modern Plant Based Foods 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

Modern Plant Based Foods 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 Modern Plant Based Foods's Piotroski F-Score or its related term are showing as below:

XCNQ:MEAT' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 3   Max: 5
Current: 4

During the past 13 years, the highest Piotroski F-Score of Modern Plant Based Foods was 5. The lowest was 1. And the median was 3.


Modern Plant Based Foods Piotroski F-Score Historical Data

The historical data trend for Modern Plant Based Foods'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.

Modern Plant Based Foods Piotroski F-Score Chart

Modern Plant Based Foods Annual Data
Trend Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 Aug20 Aug21 Aug22 Aug23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 4.00 5.00 2.00 4.00

Modern Plant Based Foods Quarterly Data
Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23
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 2.00 2.00 3.00 4.00 4.00

Competitive Comparison of Modern Plant Based Foods's Piotroski F-Score

For the Packaged Foods subindustry, Modern Plant Based Foods'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.


Modern Plant Based Foods's Piotroski F-Score Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Modern Plant Based Foods's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Modern Plant Based Foods'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 (Nov23) TTM:Last Year (Nov22) TTM:
Net Income was -0.511 + -0.17 + -4.771 + -0.14 = C$-5.59 Mil.
Cash Flow from Operations was -0.757 + -0.101 + -0.394 + -0.14 = C$-1.39 Mil.
Revenue was 0.221 + 0.145 + 0.104 + 0.178 = C$0.65 Mil.
Gross Profit was 0.035 + 0.047 + -0.026 + 0.038 = C$0.09 Mil.
Average Total Assets from the begining of this year (Nov22)
to the end of this year (Nov23) was
(1.144 + 1.007 + 0.898 + 0.703 + 0.765) / 5 = C$0.9034 Mil.
Total Assets at the begining of this year (Nov22) was C$1.14 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.00 Mil.
Total Current Assets was C$0.46 Mil.
Total Current Liabilities was C$1.85 Mil.
Net Income was -1.148 + -0.107 + -8.218 + -2.836 = C$-12.31 Mil.

Revenue was 0.504 + 0.351 + 0.141 + 0.281 = C$1.28 Mil.
Gross Profit was 0.036 + 0.112 + -0.253 + 0.048 = C$-0.06 Mil.
Average Total Assets from the begining of last year (Nov21)
to the end of last year (Nov22) was
(3.527 + 2.901 + 9.502 + 1.236 + 1.144) / 5 = C$3.662 Mil.
Total Assets at the begining of last year (Nov21) was C$3.53 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.03 Mil.
Total Current Assets was C$0.61 Mil.
Total Current Liabilities was C$1.48 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.

Modern Plant Based Foods's current Net Income (TTM) was -5.59. ==> Negative ==> Score 0.

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.

Modern Plant Based Foods's current Cash Flow from Operations (TTM) was -1.39. ==> 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 (Nov22)
=-5.592/1.144
=-4.88811189

ROA (Last Year)=Net Income/Total Assets (Nov21)
=-12.309/3.527
=-3.48993479

Modern Plant Based Foods's return on assets of this year was -4.88811189. Modern Plant Based Foods's return on assets of last year was -3.48993479. ==> 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.

Modern Plant Based Foods's current Net Income (TTM) was -5.59. Modern Plant Based Foods's current Cash Flow from Operations (TTM) was -1.39. ==> -1.39 > -5.59 ==> 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: Nov23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Nov22 to Nov23
=0/0.9034
=0

Gearing (Last Year: Nov22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Nov21 to Nov22
=0.025/3.662
=0.00682687

Modern Plant Based Foods's gearing of this year was 0. Modern Plant Based Foods's gearing of last year was 0.00682687. ==> 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: Nov23)=Total Current Assets/Total Current Liabilities
=0.464/1.854
=0.25026969

Current Ratio (Last Year: Nov22)=Total Current Assets/Total Current Liabilities
=0.609/1.477
=0.41232227

Modern Plant Based Foods's current ratio of this year was 0.25026969. Modern Plant Based Foods's current ratio of last year was 0.41232227. ==> Last year's current ratio is higher ==> Score 0.

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.

Modern Plant Based Foods's number of shares in issue this year was 8.348. Modern Plant Based Foods's number of shares in issue last year was 5.543. ==> 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
=0.094/0.648
=0.14506173

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=-0.057/1.277
=-0.04463587

Modern Plant Based Foods's gross margin of this year was 0.14506173. Modern Plant Based Foods's gross margin of last year was -0.04463587. ==> 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 (Nov22)
=0.648/1.144
=0.56643357

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Nov21)
=1.277/3.527
=0.36206408

Modern Plant Based Foods's asset turnover of this year was 0.56643357. Modern Plant Based Foods's asset turnover of last year was 0.36206408. ==> 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
=0+0+0+1+1+0+0+1+1
=4

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

Modern Plant Based Foods has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Modern Plant Based Foods  (XCNQ:MEAT) 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.


Modern Plant Based Foods Piotroski F-Score Related Terms

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Modern Plant Based Foods (XCNQ:MEAT) Business Description

Traded in Other Exchanges
Address
700 West Georgia Street, Suite 2500, Vancouver, BC, CAN, V7Y 1B3
Modern Plant Based Foods Inc is a Canadian food company based in Vancouver, British Columbia that offers a portfolio of plant-based products including meat alternatives, dairy-free cheeses, homemade style soups and vegan snacks. The company understands the importance of providing nutritious and sustainable alternatives without sacrificing taste. All products are made free of soy, gluten, nuts and GMOs. Modern Plant-Based Foods' objective is to change the way food is produced and consumed for the benefit of people, animals and the environment by using natural plant-based ingredients. The products are available for purchase at various retail locations and on e-commerce platforms.

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