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DHL Group (CHIX:DHLD) Piotroski F-Score : 5 (As of Dec. 15, 2024)


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What is DHL Group 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

DHL Group has an F-score of 5 indicating the company's financial situation is typical for a stable company.

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

CHIX:DHLd' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 9
Current: 5

During the past 13 years, the highest Piotroski F-Score of DHL Group was 9. The lowest was 4. And the median was 6.


DHL Group Piotroski F-Score Historical Data

The historical data trend for DHL Group'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.

DHL Group Piotroski F-Score Chart

DHL Group 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 5.00 7.00 9.00 6.00 4.00

DHL Group Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
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 5.00 4.00 6.00 4.00 5.00

Competitive Comparison of DHL Group's Piotroski F-Score

For the Integrated Freight & Logistics subindustry, DHL Group'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.


DHL Group's Piotroski F-Score Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, DHL Group's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where DHL Group'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 (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was 981 + 743 + 744 + 751 = €3,219 Mil.
Cash Flow from Operations was 2480 + 2001 + 1611 + 2043 = €8,135 Mil.
Revenue was 21348 + 20251 + 20639 + 20592 = €82,830 Mil.
Gross Profit was 7659 + 1942 + 2054 + 1967 = €13,622 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(66378 + 66814 + 68683 + 67583 + 66867) / 5 = €67265 Mil.
Total Assets at the begining of this year (Sep23) was €66,378 Mil.
Long-Term Debt & Capital Lease Obligation was €0 Mil.
Total Current Assets was €18,954 Mil.
Total Current Liabilities was €20,822 Mil.
Net Income was 1335 + 911 + 978 + 807 = €4,031 Mil.

Revenue was 23776 + 20918 + 20094 + 19398 = €84,186 Mil.
Gross Profit was 7976 + 2331 + 2291 + 1933 = €14,531 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(69378 + 68476 + 67353 + 65159 + 66378) / 5 = €67348.8 Mil.
Total Assets at the begining of last year (Sep22) was €69,378 Mil.
Long-Term Debt & Capital Lease Obligation was €0 Mil.
Total Current Assets was €19,584 Mil.
Total Current Liabilities was €19,951 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.

DHL Group's current Net Income (TTM) was 3,219. ==> 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.

DHL Group's current Cash Flow from Operations (TTM) was 8,135. ==> 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 (Sep23)
=3219/66378
=0.04849498

ROA (Last Year)=Net Income/Total Assets (Sep22)
=4031/69378
=0.05810199

DHL Group's return on assets of this year was 0.04849498. DHL Group's return on assets of last year was 0.05810199. ==> 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.

DHL Group's current Net Income (TTM) was 3,219. DHL Group's current Cash Flow from Operations (TTM) was 8,135. ==> 8,135 > 3,219 ==> 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: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=0/67265
=0

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=0/67348.8
=0

DHL Group's gearing of this year was 0. DHL Group's gearing of last year was 0. ==> 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: Sep24)=Total Current Assets/Total Current Liabilities
=18954/20822
=0.9102872

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=19584/19951
=0.98160493

DHL Group's current ratio of this year was 0.9102872. DHL Group's current ratio of last year was 0.98160493. ==> Last year's current ratio is higher ==> Score 0.

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.

DHL Group's number of shares in issue this year was 1192.063. DHL Group's number of shares in issue last year was 1186.765. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=13622/82830
=0.16445732

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=14531/84186
=0.1726059

DHL Group's gross margin of this year was 0.16445732. DHL Group's gross margin of last year was 0.1726059. ==> 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 (Sep23)
=82830/66378
=1.2478532

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=84186/69378
=1.21343942

DHL Group's asset turnover of this year was 1.2478532. DHL Group's asset turnover of last year was 1.21343942. ==> 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+0+1+1+0+0+0+1
=5

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

DHL Group has an F-score of 5 indicating the company's financial situation is typical for a stable company.

DHL Group  (CHIX:DHLd) 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.


DHL Group Piotroski F-Score Related Terms

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DHL Group Business Description

Address
Platz der Deutschen Post, Bonn, NW, DEU, 53250
Based in Germany, DHL Group ranks among the largest parcel-shipping and third-party logistics providers globally. Its DHL divisions (international express shipping, air and ocean freight forwarding, contract logistics, and e-commerce solutions) generate roughly 80% of revenue. Roughly 20% of revenue comes from the Post and Parcel Germany division, which includes the legacy postal business and the German small-package delivery business.

DHL Group Headlines

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