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Whirlpool (BSP:WHRL3) Piotroski F-Score : 8 (As of Mar. 31, 2025)


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What is Whirlpool 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

Whirlpool 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 Whirlpool's Piotroski F-Score or its related term are showing as below:

BSP:WHRL3' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 8

During the past 13 years, the highest Piotroski F-Score of Whirlpool was 8. The lowest was 4. And the median was 6.


Whirlpool Piotroski F-Score Historical Data

The historical data trend for Whirlpool'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.

Whirlpool Piotroski F-Score Chart

Whirlpool 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 6.00 5.00 4.00 6.00 8.00

Whirlpool 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 6.00 8.00 7.00 6.00 8.00

Competitive Comparison of Whirlpool's Piotroski F-Score

For the Furnishings, Fixtures & Appliances subindustry, Whirlpool'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.


Whirlpool's Piotroski F-Score Distribution in the Furnishings, Fixtures & Appliances Industry

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

* The bar in red indicates where Whirlpool's Piotroski F-Score falls into.


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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 204.237 + 84.536 + 342.157 + 277.786 = R$909 Mil.
Cash Flow from Operations was -159.977 + 762.894 + 954.279 + 822.743 = R$2,380 Mil.
Revenue was 2734.012 + 3094.527 + 3252.28 + 3850.839 = R$12,932 Mil.
Gross Profit was 370.342 + 566.106 + 608.306 + 665.567 = R$2,210 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(9021.134 + 8981.182 + 9569.96 + 9687.206 + 10569.338) / 5 = R$9565.764 Mil.
Total Assets at the begining of this year (Dec23) was R$9,021 Mil.
Long-Term Debt & Capital Lease Obligation was R$166 Mil.
Total Current Assets was R$7,479 Mil.
Total Current Liabilities was R$7,102 Mil.
Net Income was 68.518 + 125.906 + 125.521 + -68.026 = R$252 Mil.

Revenue was 2617.599 + 2634.197 + 2786.3 + 3449.892 = R$11,488 Mil.
Gross Profit was 436.58 + 425.904 + 490.961 + 612.587 = R$1,966 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(8444.124 + 8562.683 + 8751.603 + 9490.663 + 9021.134) / 5 = R$8854.0414 Mil.
Total Assets at the begining of last year (Dec22) was R$8,444 Mil.
Long-Term Debt & Capital Lease Obligation was R$171 Mil.
Total Current Assets was R$6,389 Mil.
Total Current Liabilities was R$6,329 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.

Whirlpool's current Net Income (TTM) was 909. ==> 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.

Whirlpool's current Cash Flow from Operations (TTM) was 2,380. ==> 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)
=908.716/9021.134
=0.1007319

ROA (Last Year)=Net Income/Total Assets (Dec22)
=251.919/8444.124
=0.02983365

Whirlpool's return on assets of this year was 0.1007319. Whirlpool's return on assets of last year was 0.02983365. ==> 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.

Whirlpool's current Net Income (TTM) was 909. Whirlpool's current Cash Flow from Operations (TTM) was 2,380. ==> 2,380 > 909 ==> 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
=166.258/9565.764
=0.01738052

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=171.117/8854.0414
=0.01932643

Whirlpool's gearing of this year was 0.01738052. Whirlpool's gearing of last year was 0.01932643. ==> 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
=7479.488/7101.828
=1.05317786

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=6388.922/6329.202
=1.00943563

Whirlpool's current ratio of this year was 1.05317786. Whirlpool's current ratio of last year was 1.00943563. ==> 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.

Whirlpool's number of shares in issue this year was 1502.786. Whirlpool's number of shares in issue last year was 1502.786. ==> 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
=2210.321/12931.658
=0.17092325

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1966.032/11487.988
=0.17113806

Whirlpool's gross margin of this year was 0.17092325. Whirlpool's gross margin of last year was 0.17113806. ==> 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 (Dec23)
=12931.658/9021.134
=1.43348475

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=11487.988/8444.124
=1.36047126

Whirlpool's asset turnover of this year was 1.43348475. Whirlpool's asset turnover of last year was 1.36047126. ==> 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+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+1+1+0+1
=8

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

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

Whirlpool  (BSP:WHRL3) 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.


Whirlpool Piotroski F-Score Related Terms

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Whirlpool Business Description

Traded in Other Exchanges
Address
Av Das Nacoes Unidas 12995 -, Sao Paulo, SP, BRA, 4578000
Whirlpool SA is a manufacturer of home appliances in Brazil. The corporate purpose is Industrialization, commercialization, import, export, commission, consignment and representation of Metallurgical, chemical, household cleaning, electrical and electronic products, other goods consumer products, food products. The company provides electronic products, machinery, and appliances for personal and commercial use, such as refrigerators, air conditioners, washing machines, food mixers, cooking equipment, microwaves, vacuum cleaners, and water purifiers. It is a subsidiary of Whirlpool Corporation.

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