Performance Analysis of Agriculture, Livestock and Hunting Sector Firms Using Piotroski F-Score Method

Authors : Nilüfer Yücedağ Erdinç
Pages : 406-411
Doi:10.47115/bsagriculture.1654889
View : 55 | Download : 83
Publication Date : 2025-05-15
Article Type : Research Paper
Abstract :The agricultural sector is critical in providing nutrition, which is one of the basic needs of the world population. The financial performance of the industry, which has been affected by global climate changes in recent years and is sensitive to social, economic, and technological risks, is a point that should be emphasized for investors and countries in terms of sectoral development. This study will discuss the financial performance of agriculture, livestock and hunting sector firms traded in Borsa Istanbul (BIST) between 2020-2023 through the Piotroski F Score. Piotroski F Score calculations used nine financial indicators showing the firms\\\' profitability, operating efficiency, leverage and liquidity status. In the research on four firms listed on the BIST, averages were calculated and grouped by scoring from 9 to 1. As a result of the Piotroski F Score method, agricultural sector firms differed yearly. In general, according to the Piotroski F scores of the firms, their financial performance was at a medium level, and they were worth investing in. It can be said that only one of the two firms has a strong financial position in two years and the other in one year, while the financial position of the other firm is at a medium level in all years during the analysis period. In the analysis, it was determined that the top three financial indicators of the firms according to the F score method are the return on assets, the change in return on assets and the change in the current ratio. Conversely, earnings quality and the change in leverage ratios are the least successful indicators. Also, their asset turnover rates are low.
Keywords : Financial performance, Agriculture sector, Piotroski F-score, Borsa İstanbul

ORIGINAL ARTICLE URL