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Leggett & Platt (Leggett & Platt) Piotroski F-Score

: 3 (As of Today)
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Warning Sign:

Piotroski F-Score of 3 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Leggett & Platt has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for Leggett & Platt's Piotroski F-Score or its related term are showing as below:

LEG' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 3

During the past 13 years, the highest Piotroski F-Score of Leggett & Platt was 8. The lowest was 3. And the median was 6.


Leggett & Platt Piotroski F-Score Historical Data

The historical data trend for Leggett & Platt'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.

Leggett & Platt 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 5.00 5.00 3.00

Leggett & Platt 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 5.00 5.00 5.00 4.00 3.00

Competitive Comparison

For the Furnishings, Fixtures & Appliances subindustry, Leggett & Platt'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.


Leggett & Platt Piotroski F-Score Distribution

For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Leggett & Platt's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Leggett & Platt'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 53.5 + 54.2 + 52.8 + -297.3 = $-137 Mil.
Cash Flow from Operations was 96.7 + 110.6 + 143.8 + 146.1 = $497 Mil.
Revenue was 1213.6 + 1221.2 + 1175.4 + 1115.1 = $4,725 Mil.
Gross Profit was 218.6 + 221.1 + 214.3 + 199.8 = $854 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(5186.1 + 5270 + 5144.3 + 5077.6 + 4634.5) / 5 = $5062.5 Mil.
Total Assets at the begining of this year (Dec22) was $5,186 Mil.
Long-Term Debt & Capital Lease Obligation was $1,830 Mil.
Total Current Assets was $1,881 Mil.
Total Current Liabilities was $1,263 Mil.
Net Income was 90.4 + 95.2 + 71.4 + 52.8 = $310 Mil.

Revenue was 1322.3 + 1334.2 + 1294.4 + 1195.8 = $5,147 Mil.
Gross Profit was 267.3 + 268.4 + 230.5 + 210.6 = $977 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(5307.3 + 5341.8 + 5230.6 + 5175.2 + 5186.1) / 5 = $5248.2 Mil.
Total Assets at the begining of last year (Dec21) was $5,307 Mil.
Long-Term Debt & Capital Lease Obligation was $2,228 Mil.
Total Current Assets was $1,958 Mil.
Total Current Liabilities was $968 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.

Leggett & Platt's current Net Income (TTM) was -137. ==> Negative ==> Score 0.

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.

Leggett & Platt's current Cash Flow from Operations (TTM) was 497. ==> 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)
=-136.8/5186.1
=-0.0263782

ROA (Last Year)=Net Income/Total Assets (Dec21)
=309.8/5307.3
=0.05837243

Leggett & Platt's return on assets of this year was -0.0263782. Leggett & Platt's return on assets of last year was 0.05837243. ==> 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.

Leggett & Platt's current Net Income (TTM) was -137. Leggett & Platt's current Cash Flow from Operations (TTM) was 497. ==> 497 > -137 ==> CFROA > ROA ==> Score 1.

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
=1830.1/5062.5
=0.36150123

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=2227.8/5248.2
=0.4244884

Leggett & Platt's gearing of this year was 0.36150123. Leggett & Platt's gearing of last year was 0.4244884. ==> This year is lower or equal to last year. ==> Score 1.

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
=1881.4/1262.6
=1.49009979

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=1958/968.1
=2.02251833

Leggett & Platt's current ratio of this year was 1.49009979. Leggett & Platt's current ratio of last year was 2.02251833. ==> Last year's current ratio is higher ==> Score 0.

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.

Leggett & Platt's number of shares in issue this year was 136.6. Leggett & Platt's number of shares in issue last year was 136.2. ==> 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
=853.8/4725.3
=0.18068694

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=976.8/5146.7
=0.18979152

Leggett & Platt's gross margin of this year was 0.18068694. Leggett & Platt's gross margin of last year was 0.18979152. ==> Last year's gross margin is higher ==> Score 0.

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)
=4725.3/5186.1
=0.9111471

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=5146.7/5307.3
=0.96973979

Leggett & Platt's asset turnover of this year was 0.9111471. Leggett & Platt's asset turnover of last year was 0.96973979. ==> 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
=0+1+0+1+1+0+0+0+0
=3

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

Leggett & Platt has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Leggett & Platt  (NYSE:LEG) 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.


Leggett & Platt Piotroski F-Score Related Terms

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Leggett & Platt (Leggett & Platt) Business Description

Traded in Other Exchanges
Address
No. 1 Leggett Road, Carthage, MO, USA, 64836
Leggett & Platt Inc designs and produces engineered components and products found in most homes and automobiles. It operates its business through three segments namely Bedding Products, Specialized Products, and Furniture, Flooring and Textile Products. Serving a broad suite of customers around the world, Leggett & Platt's products include bedding components, automotive seat support and lumbar systems, specialty bedding foam and private label finished mattresses, components for home furniture and work furniture, flooring underlayment, adjustable beds, and various other products.
Executives
Ryan Michael Kleiboeker officer: SVP-Chief Strategic Plan. Off. NO.1 LEGGETT ROAD, CARTHAGE MO 64836
Phoebe A Wood director PO BOX 1080, LOUISVILLE KY 40201
Scott S Douglas officer: SVP-Gen. Counsel and Secretary NO 1 LEGGETT ROAD, CARTHAGE MO 64836
Karl G Glassman director, officer: Executive Vice President LEGGETT & PLATT, INCORPORATED, NO. 1 LEGGETT ROAD, CARTHAGE MO 64836
Angela Barbee director NO. 1 LEGGETT ROAD, CARTHAGE MO 64836
Benjamin Michael Burns officer: SVP-Business Support Services NO. 1 LEGGETT ROAD, CARTHAGE MO 64836
James Tyson Hagale officer: SVP, Pres. - Bedding Products NO. 1 LEGGETT ROAD, CARTHAGE MO 64836
Christina Ptasinski officer: SVP - Chief HR Officer NO. 1 LEGGETT ROAD, CARTHAGE MO 64836
J Mitchell Dolloff director, officer: President and COO NO.1 LEGGETT ROAD, CARTHAGE MO 64836
Steven K Henderson officer: Executive Vice President NO. 1 LEGGETT ROAD, CARTHAGE MO 64836
Tammy M Trent officer: SVP - Chief Accounting Officer NO. 1 LEGGETT ROAD, CARTHAGE MO 64836
Jeffrey L. Tate officer: Executive Vice President - CFO 2211 H.H. DOW WAY, MIDLAND MI 48674
Susan R Mccoy officer: SVP - Investor Relations NO. 1 LEGGETT ROAD, CARTHAGE MO 64836
Judy C Odom director 2140 MERRITT DRIVE, GARLAND TX 75401
Maryelizabeth R Campbell director NO. 1 LEGGETT ROAD, CARTHAGE MO 64836

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