In a previous post, I discussed The Piotroski F-Score, as a metric to assist in determining the financial health of a company. Review the post, The Piotroski F-Score, to see how this score is calculated.
Today, let’s apply this metric to our home market: Canada.
Here are the Piotroski F-Scores for companies in the S&P/TSX Composite Index (which represents approximately 95% of Canada’s equity market capitalization). Note that Hudson’s Bay (HBC.TO) is the only company in this index with a perfect score of ‘9’.
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The above list represents the bulk of Canada’s market capitalization.
What about smaller Canadian companies? Are there some hidden Piotroski gems among the smaller companies? Yes, there are.
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Smaller companies such as these, also warrant further investigation.
Typically these companies don’t have as much analyst coverage, so there is the potential to uncover some hidden value.
In the future, Avrex Money will dig deeper into the valuations of both larger and smaller Canadian companies. To ensure that you don’t miss out, don’t forget to sign up for the free email updates below.
A reminder. A single method, such as The Piotroski F-Score should not be used in isolation.
Although it is a useful financial health indicator, it is just one metric to consider, when investigating a company.
(Note: This page is updated periodically with the latest F-Score data.)