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BYCBF (Barry Callebaut AG) Piotroski F-Score : 4 (As of Dec. 12, 2024)


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What is Barry Callebaut AG Piotroski F-Score?

The zones of discrimination were as such:

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

Barry Callebaut AG has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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

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

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


Barry Callebaut AG Piotroski F-Score Historical Data

The historical data trend for Barry Callebaut 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.

Barry Callebaut AG Piotroski F-Score Chart

Barry Callebaut AG Annual Data
Trend Aug15 Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug23 Aug24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 8.00 6.00 6.00 4.00

Barry Callebaut AG Semi-Annual Data
Feb15 Aug15 Feb16 Aug16 Feb17 Aug17 Feb18 Aug18 Feb19 Aug19 Feb20 Aug20 Feb21 Aug21 Feb22 Aug22 Feb23 Aug23 Feb24 Aug24
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 - 4.00

Competitive Comparison of Barry Callebaut AG's Piotroski F-Score

For the Confectioners subindustry, Barry Callebaut 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.


Barry Callebaut AG's Piotroski F-Score Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Barry Callebaut AG's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Barry Callebaut 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 (Aug24) TTM:Last Year (Aug23) TTM:
Net Income was $221 Mil.
Cash Flow from Operations was $-2,406 Mil.
Revenue was $12,107 Mil.
Gross Profit was $1,611 Mil.
Average Total Assets from the begining of this year (Aug23)
to the end of this year (Aug24) was (9601.216 + 17670.217) / 2 = $13635.7165 Mil.
Total Assets at the begining of this year (Aug23) was $9,601 Mil.
Long-Term Debt & Capital Lease Obligation was $3,793 Mil.
Total Current Assets was $14,197 Mil.
Total Current Liabilities was $10,350 Mil.
Net Income was $506 Mil.

Revenue was $9,644 Mil.
Gross Profit was $1,535 Mil.
Average Total Assets from the begining of last year (Aug22)
to the end of last year (Aug23) was (8106.203 + 9601.216) / 2 = $8853.7095 Mil.
Total Assets at the begining of last year (Aug22) was $8,106 Mil.
Long-Term Debt & Capital Lease Obligation was $1,293 Mil.
Total Current Assets was $6,287 Mil.
Total Current Liabilities was $4,779 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.

Barry Callebaut AG's current Net Income (TTM) was 221. ==> 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.

Barry Callebaut AG's current Cash Flow from Operations (TTM) was -2,406. ==> Negative ==> Score 0.

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 (Aug23)
=221.22/9601.216
=0.02304083

ROA (Last Year)=Net Income/Total Assets (Aug22)
=505.926/8106.203
=0.0624122

Barry Callebaut AG's return on assets of this year was 0.02304083. Barry Callebaut AG's return on assets of last year was 0.0624122. ==> 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.

Barry Callebaut AG's current Net Income (TTM) was 221. Barry Callebaut AG's current Cash Flow from Operations (TTM) was -2,406. ==> -2,406 <= 221 ==> CFROA <= ROA ==> Score 0.

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: Aug24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Aug23 to Aug24
=3793.351/13635.7165
=0.27819228

Gearing (Last Year: Aug23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Aug22 to Aug23
=1293.456/8853.7095
=0.14609199

Barry Callebaut AG's gearing of this year was 0.27819228. Barry Callebaut AG's gearing of last year was 0.14609199. ==> Last year is lower than this year ==> Score 0.

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: Aug24)=Total Current Assets/Total Current Liabilities
=14197.353/10349.502
=1.37179093

Current Ratio (Last Year: Aug23)=Total Current Assets/Total Current Liabilities
=6286.867/4779.007
=1.31551743

Barry Callebaut AG's current ratio of this year was 1.37179093. Barry Callebaut AG's current ratio of last year was 1.31551743. ==> 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.

Barry Callebaut AG's number of shares in issue this year was 5.488. Barry Callebaut AG's number of shares in issue last year was 5.492. ==> 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
=1611.208/12106.636
=0.1330847

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1535.373/9644.227
=0.15920125

Barry Callebaut AG's gross margin of this year was 0.1330847. Barry Callebaut AG's gross margin of last year was 0.15920125. ==> 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 (Aug23)
=12106.636/9601.216
=1.2609482

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Aug22)
=9644.227/8106.203
=1.18973421

Barry Callebaut AG's asset turnover of this year was 1.2609482. Barry Callebaut AG's asset turnover of last year was 1.18973421. ==> 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+0+0+0+0+1+1+0+1
=4

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

Barry Callebaut AG has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Barry Callebaut AG  (OTCPK:BYCBF) 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.


Barry Callebaut AG Piotroski F-Score Related Terms

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Barry Callebaut AG Business Description

Address
Hardturmstrasse 181, Zurich, CHE, 8005
Barry Callebaut is a significant manufacturer and supplier of cocoa and chocolate ingredients, employing over 13,000 people. Customers include food and beverage makers as well as craftspeople, chocolatiers, pastry chefs, and bakers who utilize chocolate professionally. Barry Callebaut is vertically integrated from raw material (cocoa bean) procurement through chocolate manufacture, while not owning any cocoa farms. The firm produces around 40% of the world's industrial chocolate (open market), and its products are used in approximately 20% of the world's chocolate and cocoa goods. Barry Callebaut's sustainability endeavors are reflected in the fact that the company's Sustainalytics ESG Risk Rating is one of the lowest in its subcategory and first among its peers.

Barry Callebaut AG Headlines

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