GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » Verbund AG (OTCPK:OEZVY) » Definitions » Piotroski F-Score
中文

Verbund AG (Verbund AG) Piotroski F-Score : 8 (As of Apr. 25, 2024)


View and export this data going back to 1997. Start your Free Trial

What is Verbund AG Piotroski F-Score?

Good Sign:

Piotroski F-Score is 8, indicates a very healthy situation.

The zones of discrimination were as such:

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

Verbund AG has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

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

OEZVY' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 7   Max: 8
Current: 8

During the past 13 years, the highest Piotroski F-Score of Verbund AG was 8. The lowest was 5. And the median was 7.


Verbund AG Piotroski F-Score Historical Data

The historical data trend for Verbund AG'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.

Verbund AG Piotroski F-Score Chart

Verbund AG 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 8.00 6.00 6.00 6.00 8.00

Verbund AG 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 6.00 6.00 8.00 7.00 8.00

Competitive Comparison of Verbund AG's Piotroski F-Score

For the Utilities - Renewable subindustry, Verbund AG'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.


Verbund AG's Piotroski F-Score Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Verbund AG's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Verbund AG'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 566.381 + 821.56 + 740.021 + 311.39 = $2,439 Mil.
Cash Flow from Operations was 1460.064 + 1659.805 + 1342.263 + 1013.707 = $5,476 Mil.
Revenue was 3493.255 + 3709.317 + 3311.953 + 719.285 = $11,234 Mil.
Gross Profit was 1327.623 + 1969.989 + 1811.846 + -56.64 = $5,053 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(20293.055 + 20922.163 + 20036.945 + 20592.529 + 21248.981) / 5 = $20618.7346 Mil.
Total Assets at the begining of this year (Dec22) was $20,293 Mil.
Long-Term Debt & Capital Lease Obligation was $1,843 Mil.
Total Current Assets was $3,915 Mil.
Total Current Liabilities was $3,447 Mil.
Net Income was 566.52 + 320.085 + 245.644 + 690.479 = $1,823 Mil.

Revenue was 2788.546 + 2325.37 + 2857.03 + 2890.653 = $10,862 Mil.
Gross Profit was 893.392 + 904.123 + 506.634 + 828.373 = $3,133 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(19526.966 + 19831.167 + 21074.419 + 23007.228 + 20293.055) / 5 = $20746.567 Mil.
Total Assets at the begining of last year (Dec21) was $19,527 Mil.
Long-Term Debt & Capital Lease Obligation was $2,907 Mil.
Total Current Assets was $4,144 Mil.
Total Current Liabilities was $4,391 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.

Verbund AG's current Net Income (TTM) was 2,439. ==> 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.

Verbund AG's current Cash Flow from Operations (TTM) was 5,476. ==> 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)
=2439.352/20293.055
=0.12020625

ROA (Last Year)=Net Income/Total Assets (Dec21)
=1822.728/19526.966
=0.09334415

Verbund AG's return on assets of this year was 0.12020625. Verbund AG's return on assets of last year was 0.09334415. ==> 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.

Verbund AG's current Net Income (TTM) was 2,439. Verbund AG's current Cash Flow from Operations (TTM) was 5,476. ==> 5,476 > 2,439 ==> 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
=1843.402/20618.7346
=0.08940423

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=2906.886/20746.567
=0.14011407

Verbund AG's gearing of this year was 0.08940423. Verbund AG's gearing of last year was 0.14011407. ==> 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
=3915.189/3447.426
=1.13568471

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=4144.061/4391.325
=0.94369262

Verbund AG's current ratio of this year was 1.13568471. Verbund AG's current ratio of last year was 0.94369262. ==> 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.

Verbund AG's number of shares in issue this year was 1737.078. Verbund AG's number of shares in issue last year was 1743.753. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

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
=5052.818/11233.81
=0.44978667

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=3132.522/10861.599
=0.28840339

Verbund AG's gross margin of this year was 0.44978667. Verbund AG's gross margin of last year was 0.28840339. ==> 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 (Dec22)
=11233.81/20293.055
=0.55357904

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=10861.599/19526.966
=0.55623587

Verbund AG's asset turnover of this year was 0.55357904. Verbund AG's asset turnover of last year was 0.55623587. ==> 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+1+1+1+1+1+1+1+0
=8

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

Verbund AG has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Verbund AG  (OTCPK:OEZVY) 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.


Verbund AG Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Verbund AG's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Verbund AG (Verbund AG) Business Description

Address
Am Hof 6a, Vienna, AUT, 1010
Founded in 1947 through a nationalization act, Verbund is the leading power producer in Austria. The Austrian state owns 51% of its capital. Hydro accounts for more than 90% of the total power output. Hydro power is generated from reservoirs and pumped storage plants in the Austrian Alps, and run-of-river plants in Austria and southern Germany. Total hydro capacity amounts to 8.4 GW. Verbund also owns the Austrian electricity grid through its fully owned subsidiary AP. In 2021, the firm acquired 51% of Gas Connect Austria, a gas transmission and distribution system operator. The group also owns one CCGT and is involved in trading and development of wind and solar capacity.

Verbund AG (Verbund AG) Headlines

From GuruFocus

Half Year 2023 Verbund AG Earnings Call Transcript

By GuruFocus Research 02-14-2024

Q3 2023 Verbund AG Earnings Call Transcript

By GuruFocus Research 02-14-2024

Q4 2021 Verbund AG Earnings Call Transcript

By GuruFocus Research 02-14-2024

Half Year 2023 Verbund AG Earnings Call Transcript

By GuruFocus Research 02-14-2024

Q1 2019 Verbund AG Earnings Call Transcript

By GuruFocus Research 02-14-2024

Q3 2022 Verbund AG Earnings Call Transcript

By GuruFocus Research 02-14-2024

Q3 2023 Verbund AG Earnings Call Transcript

By GuruFocus Research 02-14-2024

Q1 2023 Verbund AG Earnings Call Transcript

By GuruFocus Research 02-14-2024

Q2 2019 Verbund AG Earnings Call Transcript

By GuruFocus Research 02-14-2024

Q3 2019 Verbund AG Earnings Call Transcript

By GuruFocus Research 02-14-2024