Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Breeze-Eastern has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Breeze-Eastern's Piotroski F-Score or its related term are showing as below:
Breeze-Eastern Piotroski F-Score Historical Data
The historical data trend for Breeze-Eastern'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.
* 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.
*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.
Breeze-Eastern's current Net Income (TTM) was 19.74.
==> 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.
Breeze-Eastern's return on assets of this year was 0.24885269. Breeze-Eastern's return on assets of last year was 0.06762594.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Breeze-Eastern's current ratio of this year was 5.02066814. Breeze-Eastern's current ratio of last year was 3.86778615.
==> 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.
Breeze-Eastern's number of shares in issue this year was 10.177. Breeze-Eastern's number of shares in issue last year was 9.962.
==> 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.
Breeze-Eastern's gross margin of this year was 0.41872012. Breeze-Eastern's gross margin of last year was 0.36378352.
==> 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
Breeze-Eastern's asset turnover of this year was 1.23410157. Breeze-Eastern's asset turnover of last year was 1.17852812.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
+
Que. 6
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Que. 7
+
Que. 8
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Que. 9
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1
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1
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1
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0
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0
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1
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0
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1
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1
=
6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Breeze-Eastern has an F-score of 6 indicating the company's financial situation is typical for a stable company.
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.
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.
Breeze-Eastern Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Breeze-Eastern's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Breeze-Eastern (Breeze-Eastern) Business Description
Breeze-Eastern Corp a Delaware corporation was organized in 1962. The Company designs, develops, manufactures, sells and services sophisticated engineered mission equipment for specialty aerospace and defense applications. Its core business is aerospace and defense products. The Company develops helicopter hoist and winch systems, including systems for the current generation of Sikorsky H-60 Blackhawk and Naval Hawk, Bell-Boeing V-22 Osprey, Boeing CH-47 Chinook, Dolphin, Changhe Z-11, Agusta Westland A-W109, AW119 and AW139 helicopter. It also designs, markets, sells and services a line of hydraulic and electric aircraft cargo winch system. Its external cargo hook systems are original equipment on military medium and heavy lift helicopters. Its latest designs incorporate load sensing and display technology and automatic load release features. It also manufactures cargo and aircraft tie-downs which are included in this product line. It makes static-line retrieval and cargo winches for military cargo aircraft including the Boeing C-17, Alenia C-27J and CASA CN-235 and CASA C-295. Its weapons handling systems include weapons handling equipment for land-based rocket launchers and munitions hoists for loading missiles and other loads using electric power or exchangeable battery packs. It supplies this equipment for the United States, Japanese and European Multiple-Launch Rocket Systems (MLRS) and the United States High Mobility Artillery Rocket System (HIMARS). It performs overhaul, repair and maintenance services for all of its products. These services are performed at its Whippany, New Jersey facility. It also has licensed third-party vendors to perform these services.
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