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Chocoladefabriken Lindt & Spruengli AG (CHIX:LISPZ) Piotroski F-Score : 8 (As of Dec. 14, 2024)


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What is Chocoladefabriken Lindt & Spruengli AG 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

Chocoladefabriken Lindt & Spruengli AG 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 Chocoladefabriken Lindt & Spruengli AG's Piotroski F-Score or its related term are showing as below:

CHIX:LISPz' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 8
Current: 8

During the past 13 years, the highest Piotroski F-Score of Chocoladefabriken Lindt & Spruengli AG was 8. The lowest was 2. And the median was 6.


Chocoladefabriken Lindt & Spruengli AG Piotroski F-Score Historical Data

The historical data trend for Chocoladefabriken Lindt & Spruengli 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.

Chocoladefabriken Lindt & Spruengli AG Piotroski F-Score Chart

Chocoladefabriken Lindt & Spruengli AG 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 7.00 4.00 8.00 6.00 8.00

Chocoladefabriken Lindt & Spruengli AG Semi-Annual Data
Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24
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 -

Competitive Comparison of Chocoladefabriken Lindt & Spruengli AG's Piotroski F-Score

For the Confectioners subindustry, Chocoladefabriken Lindt & Spruengli 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.


Chocoladefabriken Lindt & Spruengli AG's Piotroski F-Score Distribution in the Consumer Packaged Goods Industry

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

* The bar in red indicates where Chocoladefabriken Lindt & Spruengli 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 (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was CHF671 Mil.
Cash Flow from Operations was CHF779 Mil.
Revenue was CHF5,201 Mil.
Gross Profit was CHF3,495 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (7945.1 + 7860) / 2 = CHF7902.55 Mil.
Total Assets at the begining of this year (Dec22) was CHF7,945 Mil.
Long-Term Debt & Capital Lease Obligation was CHF1,075 Mil.
Total Current Assets was CHF2,609 Mil.
Total Current Liabilities was CHF1,843 Mil.
Net Income was CHF570 Mil.

Revenue was CHF4,970 Mil.
Gross Profit was CHF3,293 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (8956.1 + 7945.1) / 2 = CHF8450.6 Mil.
Total Assets at the begining of last year (Dec21) was CHF8,956 Mil.
Long-Term Debt & Capital Lease Obligation was CHF1,360 Mil.
Total Current Assets was CHF2,890 Mil.
Total Current Liabilities was CHF1,577 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.

Chocoladefabriken Lindt & Spruengli AG's current Net Income (TTM) was 671. ==> 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.

Chocoladefabriken Lindt & Spruengli AG's current Cash Flow from Operations (TTM) was 779. ==> 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 (Dec22)
=671.4/7945.1
=0.08450491

ROA (Last Year)=Net Income/Total Assets (Dec21)
=569.7/8956.1
=0.06361028

Chocoladefabriken Lindt & Spruengli AG's return on assets of this year was 0.08450491. Chocoladefabriken Lindt & Spruengli AG's return on assets of last year was 0.06361028. ==> 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.

Chocoladefabriken Lindt & Spruengli AG's current Net Income (TTM) was 671. Chocoladefabriken Lindt & Spruengli AG's current Cash Flow from Operations (TTM) was 779. ==> 779 > 671 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=1074.6/7902.55
=0.13598142

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=1360.4/8450.6
=0.16098265

Chocoladefabriken Lindt & Spruengli AG's gearing of this year was 0.13598142. Chocoladefabriken Lindt & Spruengli AG's gearing of last year was 0.16098265. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=2609/1843
=1.4156267

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=2889.8/1577.3
=1.83211818

Chocoladefabriken Lindt & Spruengli AG's current ratio of this year was 1.4156267. Chocoladefabriken Lindt & Spruengli AG's current ratio of last year was 1.83211818. ==> 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.

Chocoladefabriken Lindt & Spruengli AG's number of shares in issue this year was 2.348. Chocoladefabriken Lindt & Spruengli AG's number of shares in issue last year was 2.387. ==> 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
=3495.1/5201.2
=0.67197954

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=3292.5/4970.2
=0.66244819

Chocoladefabriken Lindt & Spruengli AG's gross margin of this year was 0.67197954. Chocoladefabriken Lindt & Spruengli AG's gross margin of last year was 0.66244819. ==> 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 (Dec22)
=5201.2/7945.1
=0.65464248

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=4970.2/8956.1
=0.55495137

Chocoladefabriken Lindt & Spruengli AG's asset turnover of this year was 0.65464248. Chocoladefabriken Lindt & Spruengli AG's asset turnover of last year was 0.55495137. ==> 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+0+1+1+1
=8

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

Chocoladefabriken Lindt & Spruengli AG has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Chocoladefabriken Lindt & Spruengli AG  (CHIX:LISPz) 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.


Chocoladefabriken Lindt & Spruengli AG Piotroski F-Score Related Terms

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Chocoladefabriken Lindt & Spruengli AG Business Description

Address
Seestrasse 204, Kilchberg, CHE, CH-8802
Swiss-based Chocoladefabriken Lindt & Spruengli is a manufacturer of premium chocolate. Key brands include Lindt, Lindor, Ghirardelli, Russell Stover, Whitman's, and Caffarel. The company bought U.S.-based Russell Stover, its largest-ever acquisition, in 2014. It derives the bulk of its sales from Europe (46% of its consolidated base) but also competes in North America (41%) and the rest of the world (13%). The company operates 11 manufacturing plants in Europe and the United States. Its distribution network includes 500 own stores.

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