GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Axalta Coating Systems Ltd (NYSE:AXTA) » Definitions » Piotroski F-Score

AXTA (Axalta Coating Systems) Piotroski F-Score : 8 (As of Mar. 02, 2025)


View and export this data going back to 2014. Start your Free Trial

What is Axalta Coating Systems 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

Axalta Coating Systems 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 Axalta Coating Systems's Piotroski F-Score or its related term are showing as below:

AXTA' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 7   Max: 9
Current: 8

During the past 13 years, the highest Piotroski F-Score of Axalta Coating Systems was 9. The lowest was 5. And the median was 7.


Axalta Coating Systems Piotroski F-Score Historical Data

The historical data trend for Axalta Coating Systems'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.

Axalta Coating Systems Piotroski F-Score Chart

Axalta Coating Systems Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 7.00 7.00 9.00 8.00

Axalta Coating Systems Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
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 9.00 9.00 9.00 8.00 8.00

Competitive Comparison of Axalta Coating Systems's Piotroski F-Score

For the Specialty Chemicals subindustry, Axalta Coating Systems'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.


Axalta Coating Systems's Piotroski F-Score Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, Axalta Coating Systems's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Axalta Coating Systems'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 (Dec24) TTM:Last Year (Dec23) TTM:
Net Income was 41 + 112 + 101 + 137 = $391 Mil.
Cash Flow from Operations was 34 + 114 + 194 + 234 = $576 Mil.
Revenue was 1294 + 1351 + 1320 + 1311 = $5,276 Mil.
Gross Profit was 429 + 460 + 462 + 447 = $1,798 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(7272 + 7089 + 7306 + 7500 + 7249) / 5 = $7283.2 Mil.
Total Assets at the begining of this year (Dec23) was $7,272 Mil.
Long-Term Debt & Capital Lease Obligation was $3,401 Mil.
Total Current Assets was $2,723 Mil.
Total Current Liabilities was $1,354 Mil.
Net Income was 61 + 61 + 72 + 73 = $267 Mil.

Revenue was 1284 + 1294 + 1309 + 1297 = $5,184 Mil.
Gross Profit was 382 + 390 + 423 + 423 = $1,618 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(7059.2 + 7000.6 + 7043.1 + 6996 + 7272) / 5 = $7074.18 Mil.
Total Assets at the begining of last year (Dec22) was $7,059 Mil.
Long-Term Debt & Capital Lease Obligation was $3,478 Mil.
Total Current Assets was $2,821 Mil.
Total Current Liabilities was $1,428 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.

Axalta Coating Systems's current Net Income (TTM) was 391. ==> 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.

Axalta Coating Systems's current Cash Flow from Operations (TTM) was 576. ==> 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 (Dec23)
=391/7272
=0.05376788

ROA (Last Year)=Net Income/Total Assets (Dec22)
=267/7059.2
=0.03782298

Axalta Coating Systems's return on assets of this year was 0.05376788. Axalta Coating Systems's return on assets of last year was 0.03782298. ==> 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.

Axalta Coating Systems's current Net Income (TTM) was 391. Axalta Coating Systems's current Cash Flow from Operations (TTM) was 576. ==> 576 > 391 ==> 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: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=3401/7283.2
=0.46696507

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=3478/7074.18
=0.49164709

Axalta Coating Systems's gearing of this year was 0.46696507. Axalta Coating Systems's gearing of last year was 0.49164709. ==> 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: Dec24)=Total Current Assets/Total Current Liabilities
=2723/1354
=2.01107829

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=2821/1428
=1.9754902

Axalta Coating Systems's current ratio of this year was 2.01107829. Axalta Coating Systems's current ratio of last year was 1.9754902. ==> 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.

Axalta Coating Systems's number of shares in issue this year was 219.2. Axalta Coating Systems's number of shares in issue last year was 221.3. ==> 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
=1798/5276
=0.34078848

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1618/5184
=0.3121142

Axalta Coating Systems's gross margin of this year was 0.34078848. Axalta Coating Systems's gross margin of last year was 0.3121142. ==> 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 (Dec23)
=5276/7272
=0.72552255

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=5184/7059.2
=0.73436083

Axalta Coating Systems's asset turnover of this year was 0.72552255. Axalta Coating Systems's asset turnover of last year was 0.73436083. ==> 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

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

Axalta Coating Systems  (NYSE:AXTA) 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.


Axalta Coating Systems Piotroski F-Score Related Terms

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


Axalta Coating Systems Business Description

Traded in Other Exchanges
Address
1050 Constitution Avenue, Philadelphia, PA, USA, 19112
Axalta Coating Systems Ltd is a manufacturer, marketer and distributor of high-performance coatings systems. It operates in two segments, The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base. Its end markets include refinish and industrial. The Mobility Coatings segment relates to the provision of coating technologies to original equipment manufacturers of light and commercial vehicles. The company operates in the geographic areas of North America, EMEA countries, Asia-Pacific, and Latin America.
Executives
Troy D. Weaver officer: SVP, Global Refinish AXALTA COATING SYSTEMS, 2001 MARKET STREET 36TH FLOOR, PHILADELPHIA PA 19103
Hadi Awada officer: SVP, Global Trans. Coatings AXALTA COATING SYSTEMS, 2001 MARKET STREET 36TH FLOOR, PHILADELPHIA PA 19103
Brian A Berube officer: SVP and General Counsel C/O CABOT CORPORATION, TWO SEAPORT LANE, SUITE 1300, BOSTON MA 02210
Anthony Massey officer: VP, Global Controller, PAO AXALTA COATING SYSTEMS, 2001 MARKET STREET, 36TH FLOOR, PHILADELPHIA PA 19103
Robert M Mclaughlin director C/O AIRGAS, INC., 259 NORTH RADNOR-CHESTER RD, RADNOR PA 19087
Mary Slagle Zappone director 10900 NE 8TH ST., STE. 800, BELLEVUE WA 98004
Amy Tufano officer: SVP & CHRO 50 APPLIED BANK BLVD., SUITE 300, GLEN MILLS PA 19342
Deborah J. Kissire director 210 E. EARLL DRIVE, PHOENIX AZ 85012
William M Cook director 1925 WEST FIELD COURT, SUITE 200, LAKE FOREST IL 60045
Kevin M Stein director TRANSDIGM GROUP INCORPORATED, 1301 EAST 9TH STREET, SUITE 3000, CLEVELAND OH 44114
Anderson Carl Douglas Ii officer: SVP and CFO C/O XPO, INC., FIVE AMERICAN LANE, GREENWICH CT 06831
Jacqueline Scanlan officer: SVP & CHRO HAEMONETICS CORPORATION, 400 WOOD ROAD, BRAINTREE MA 02184
Chris Villavarayan director, officer: CEO & President C/O MERITOR, INC., 2135 WEST MAPLE ROAD, TROY MI 48084
Jan Bertsch director 3850 HAMLIN ROAD, AUBURN HILLS MI 48326
Barry S Snyder officer: SVP,Chief Ops & Sup Chain Offc 1200 WILLOW LAKE BOULEVARD, P.O. BOX 64683, ST. PAUL MN 55164-0683