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PPB Group Bhd (XKLS:4065) Piotroski F-Score : 5 (As of May. 12, 2024)


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What is PPB Group Bhd 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

PPB Group Bhd has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for PPB Group Bhd's Piotroski F-Score or its related term are showing as below:

XKLS:4065' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 5   Max: 6
Current: 5

During the past 13 years, the highest Piotroski F-Score of PPB Group Bhd was 6. The lowest was 4. And the median was 5.


PPB Group Bhd Piotroski F-Score Historical Data

The historical data trend for PPB Group Bhd'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.

PPB Group Bhd Piotroski F-Score Chart

PPB Group Bhd 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 4.00 4.00 6.00 5.00

PPB Group Bhd 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 6.00 7.00 6.00 4.00 5.00

Competitive Comparison of PPB Group Bhd's Piotroski F-Score

For the Farm Products subindustry, PPB Group Bhd'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.


PPB Group Bhd's Piotroski F-Score Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, PPB Group Bhd's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where PPB Group Bhd'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 377.537 + 202.814 + 372.554 + 441.4 = RM1,394 Mil.
Cash Flow from Operations was 17.286 + 298.615 + 324.586 + 106.055 = RM747 Mil.
Revenue was 1519.675 + 1480.934 + 1457.594 + 1262.49 = RM5,721 Mil.
Gross Profit was 153.635 + 154.043 + 153.459 + 127.592 = RM589 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(28932.677 + 29632.175 + 29766.33 + 29334.733 + 29408.364) / 5 = RM29414.8558 Mil.
Total Assets at the begining of this year (Dec22) was RM28,933 Mil.
Long-Term Debt & Capital Lease Obligation was RM511 Mil.
Total Current Assets was RM3,331 Mil.
Total Current Liabilities was RM917 Mil.
Net Income was 303.159 + 693.685 + 784.752 + 415.5 = RM2,197 Mil.

Revenue was 1348.335 + 1542.833 + 1649.343 + 1610.633 = RM6,151 Mil.
Gross Profit was 109.33 + 178.147 + 161.333 + 156.821 = RM606 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(27397.162 + 28221.02 + 29340.538 + 30239.266 + 28932.677) / 5 = RM28826.1326 Mil.
Total Assets at the begining of last year (Dec21) was RM27,397 Mil.
Long-Term Debt & Capital Lease Obligation was RM409 Mil.
Total Current Assets was RM3,916 Mil.
Total Current Liabilities was RM1,796 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.

PPB Group Bhd's current Net Income (TTM) was 1,394. ==> 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.

PPB Group Bhd's current Cash Flow from Operations (TTM) was 747. ==> 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)
=1394.305/28932.677
=0.04819136

ROA (Last Year)=Net Income/Total Assets (Dec21)
=2197.096/27397.162
=0.08019429

PPB Group Bhd's return on assets of this year was 0.04819136. PPB Group Bhd's return on assets of last year was 0.08019429. ==> 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.

PPB Group Bhd's current Net Income (TTM) was 1,394. PPB Group Bhd's current Cash Flow from Operations (TTM) was 747. ==> 747 <= 1,394 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=510.992/29414.8558
=0.0173719

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=408.64/28826.1326
=0.01417603

PPB Group Bhd's gearing of this year was 0.0173719. PPB Group Bhd's gearing of last year was 0.01417603. ==> 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
=3330.618/916.59
=3.63370536

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=3916.06/1795.776
=2.18070628

PPB Group Bhd's current ratio of this year was 3.63370536. PPB Group Bhd's current ratio of last year was 2.18070628. ==> 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.

PPB Group Bhd's number of shares in issue this year was 1422.599. PPB Group Bhd's number of shares in issue last year was 1422.599. ==> 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
=588.729/5720.693
=0.10291218

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=605.631/6151.144
=0.09845827

PPB Group Bhd's gross margin of this year was 0.10291218. PPB Group Bhd's gross margin of last year was 0.09845827. ==> 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)
=5720.693/28932.677
=0.19772429

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=6151.144/27397.162
=0.22451756

PPB Group Bhd's asset turnover of this year was 0.19772429. PPB Group Bhd's asset turnover of last year was 0.22451756. ==> 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+0+0+0+1+1+1+0
=5

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

PPB Group Bhd has an F-score of 5 indicating the company's financial situation is typical for a stable company.

PPB Group Bhd  (XKLS:4065) 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.


PPB Group Bhd Piotroski F-Score Related Terms

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PPB Group Bhd (XKLS:4065) Business Description

Traded in Other Exchanges
N/A
Address
10 Jalan P. Ramlee, 12th Floor, UBN Tower, Kuala Lumpur, SGR, MYS, 50250
PPB Group Bhd is a diversified company working in food and waste management, film distribution, and property development. The company operates flour and animal feed mills, trades grains, and conducts livestock farming across Asia. Its operating segments comprise Grains and agribusiness; Consumer products; Film exhibition and distribution; Environmental engineering and utilities; Property and Other operations. It derives the majority of its revenue from Grains and agribusiness.

PPB Group Bhd (XKLS:4065) Headlines

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