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Fuyo General Lease Co (TSE:8424) Piotroski F-Score : 4 (As of May. 25, 2024)


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What is Fuyo General Lease Co 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

Fuyo General Lease Co 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 Fuyo General Lease Co's Piotroski F-Score or its related term are showing as below:

TSE:8424' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 4   Max: 7
Current: 4

During the past 13 years, the highest Piotroski F-Score of Fuyo General Lease Co was 7. The lowest was 4. And the median was 4.


Fuyo General Lease Co Piotroski F-Score Historical Data

The historical data trend for Fuyo General Lease 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.

Fuyo General Lease Co Piotroski F-Score Chart

Fuyo General Lease 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 4.00 4.00 7.00 6.00 4.00

Fuyo General Lease 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 6.00 - - - 4.00

Competitive Comparison of Fuyo General Lease Co's Piotroski F-Score

For the Rental & Leasing Services subindustry, Fuyo General Lease 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.


Fuyo General Lease Co's Piotroski F-Score Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, Fuyo General Lease Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Fuyo General Lease 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 円47,219 Mil.
Cash Flow from Operations was 円-112,098 Mil.
Revenue was 円708,538 Mil.
Gross Profit was 円109,570 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was (3149740 + 3390324) / 2 = 円3270032 Mil.
Total Assets at the begining of this year (Mar23) was 円3,149,740 Mil.
Long-Term Debt & Capital Lease Obligation was 円1,369,726 Mil.
Total Current Assets was 円2,166,425 Mil.
Total Current Liabilities was 円1,421,313 Mil.
Net Income was 円38,939 Mil.

Revenue was 円688,655 Mil.
Gross Profit was 円97,316 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was (2949704 + 3149740) / 2 = 円3049722 Mil.
Total Assets at the begining of last year (Mar22) was 円2,949,704 Mil.
Long-Term Debt & Capital Lease Obligation was 円1,146,283 Mil.
Total Current Assets was 円2,097,123 Mil.
Total Current Liabilities was 円1,479,030 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.

Fuyo General Lease Co's current Net Income (TTM) was 47,219. ==> 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.

Fuyo General Lease Co's current Cash Flow from Operations (TTM) was -112,098. ==> 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 (Mar23)
=47219/3149740
=0.0149914

ROA (Last Year)=Net Income/Total Assets (Mar22)
=38939/2949704
=0.01320099

Fuyo General Lease Co's return on assets of this year was 0.0149914. Fuyo General Lease Co's return on assets of last year was 0.01320099. ==> 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.

Fuyo General Lease Co's current Net Income (TTM) was 47,219. Fuyo General Lease Co's current Cash Flow from Operations (TTM) was -112,098. ==> -112,098 <= 47,219 ==> 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: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=1369726/3270032
=0.41887235

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=1146283/3049722
=0.37586475

Fuyo General Lease Co's gearing of this year was 0.41887235. Fuyo General Lease Co's gearing of last year was 0.37586475. ==> 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: Mar24)=Total Current Assets/Total Current Liabilities
=2166425/1421313
=1.52424202

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=2097123/1479030
=1.4179043

Fuyo General Lease Co's current ratio of this year was 1.52424202. Fuyo General Lease Co's current ratio of last year was 1.4179043. ==> 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.

Fuyo General Lease Co's number of shares in issue this year was 30.133. Fuyo General Lease Co's number of shares in issue last year was 30.129. ==> 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
=109570/708538
=0.15464238

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=97316/688655
=0.14131314

Fuyo General Lease Co's gross margin of this year was 0.15464238. Fuyo General Lease Co's gross margin of last year was 0.14131314. ==> 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)
=708538/3149740
=0.22495127

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=688655/2949704
=0.2334658

Fuyo General Lease Co's asset turnover of this year was 0.22495127. Fuyo General Lease Co's asset turnover of last year was 0.2334658. ==> 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+0+1+0+0+1+0+1+0
=4

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

Fuyo General Lease Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Fuyo General Lease Co  (TSE:8424) 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.


Fuyo General Lease Co Piotroski F-Score Related Terms

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Fuyo General Lease Co (TSE:8424) Business Description

Traded in Other Exchanges
Address
Nichirei Building, 3-3-23, Misaki-cho, Chiyoda-ku, Tokyo, JPN, 1018380
Fuyo General Lease Co Ltd is Japanese company which is engaged in leasing and installment transactions for machinery and equipment and financial transactions such as the provision of operating loans. The company focuses on using direct and indirect financing to procure funds for purchasing assets to lease or to sell through installment sales and for providing operating loans to customers. It has three reportable segments namely Lease and Installment Sales segment conducts leasing office equipment, industrial machinery and sells commercial equipment, production facilities, medical devices, and other assets on an installment basis; Loans segment which is engaged in commercial lending; and Other segment which invests in marketable securities.

Fuyo General Lease Co (TSE:8424) Headlines

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