Industrias Bachoco, S.A. de C.V.
Industrias Bachoco, S.A. de C.V. (IBA) Piotroski F-score
Industrias Bachoco, S.A. de C.V.'s Piotroski F-score for fiscal 2022 is 7 out of 9: 7 of nine tests of profitability, leverage and efficiency passed, down from 8 in fiscal 2021.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2022 | 7 | (1.00) |
| FY2021 | 8 | 0.00 |
| FY2020 | 8 | 1.00 |
| FY2019 | 7 | 1.00 |
| FY2018 | 6 | 0.00 |
| FY2017 | 6 | 3.00 |
| FY2016 | 3 | — |
How fiscal 2022’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 9.07% | 8.33% | Pass | 1 |
| Positive operating cash flow | 297.50m | 316.15m | Pass | 1 |
| Rising return on assets | 9.07% | 8.33% | Pass | 1 |
| Cash flow above net income | (17.80m) | 66.42m | Fail | 0 |
| Falling long-term leverage | 0.04 | 0.01 | Fail | 0 |
| Rising current ratio | 3.78 | 2.95 | Pass | 1 |
| No new shares issued | 49,948,000 | 49,977,500 | Pass | 1 |
| Rising gross margin | 17.04% | 16.33% | Pass | 1 |
| Rising asset turnover | 1.46 | 1.34 | Pass | 1 |
| Piotroski F-score | Strong — most fundamentals improved | 7 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| DMC Del Monte Corporation compare | 8 |
| IBA Industrias Bachoco, S.A. de C.V. | 7 |
| CALM Cal-Maine Foods, Inc. compare | 6 |
| DOLE Dole PLC compare | 6 |
| TSN Tyson Foods, Inc. compare | 5 |
| AFRI Forafric Global PLC compare | 4 |
| AGRO Adecoagro S.A. compare | 3 |
| VITL Vital Farms, Inc. compare | 3 |
| LND Brasilagro Cia Brasileira De Propriedades Agricolas compare | 3 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover