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Coty (COTY) Piotroski F-Score

: 7 (As of Today)
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Good Sign:

Piotroski F-Score is 7, 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

Coty has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

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

COTY' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 9
Current: 7

During the past 13 years, the highest Piotroski F-Score of Coty was 9. The lowest was 2. And the median was 5.


Coty Piotroski F-Score Historical Data

The historical data trend for Coty'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.

Coty Annual Data
Trend Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.00 3.00 6.00 7.00 7.00

Coty Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 7.00 9.00 7.00

Competitive Comparison

For the Household & Personal Products subindustry, Coty'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.


Coty Piotroski F-Score Distribution

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

* The bar in red indicates where Coty'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 108.4 + 32.9 + 1.6 + 180.9 = $324 Mil.
Cash Flow from Operations was -124.6 + 104.9 + 186.2 + 421.9 = $588 Mil.
Revenue was 1288.9 + 1351.6 + 1641.4 + 1727.6 = $6,010 Mil.
Gross Profit was 810.8 + 849.5 + 1041.9 + 1124.1 = $3,826 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(12454.6 + 12705.5 + 12661.6 + 12616.9 + 13015.7) / 5 = $12690.86 Mil.
Total Assets at the begining of this year (Dec22) was $12,455 Mil.
Long-Term Debt & Capital Lease Obligation was $3,935 Mil.
Total Current Assets was $2,422 Mil.
Total Current Liabilities was $2,851 Mil.
Net Income was 53.6 + -281.5 + 128.6 + 238.3 = $139 Mil.

Revenue was 1186.2 + 1168.3 + 1390 + 1523.6 = $5,268 Mil.
Gross Profit was 763.1 + 722.1 + 888.7 + 998.3 = $3,372 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(13434 + 13269.1 + 12116.1 + 11947.9 + 12454.6) / 5 = $12644.34 Mil.
Total Assets at the begining of last year (Dec21) was $13,434 Mil.
Long-Term Debt & Capital Lease Obligation was $4,279 Mil.
Total Current Assets was $1,906 Mil.
Total Current Liabilities was $2,916 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.

Coty's current Net Income (TTM) was 324. ==> 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.

Coty's current Cash Flow from Operations (TTM) was 588. ==> 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)
=323.8/12454.6
=0.02599843

ROA (Last Year)=Net Income/Total Assets (Dec21)
=139/13434
=0.01034688

Coty's return on assets of this year was 0.02599843. Coty's return on assets of last year was 0.01034688. ==> 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.

Coty's current Net Income (TTM) was 324. Coty's current Cash Flow from Operations (TTM) was 588. ==> 588 > 324 ==> 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
=3934.5/12690.86
=0.31002627

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=4279.2/12644.34
=0.3384281

Coty's gearing of this year was 0.31002627. Coty's gearing of last year was 0.3384281. ==> 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
=2421.6/2851
=0.84938618

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=1906.3/2915.6
=0.65382769

Coty's current ratio of this year was 0.84938618. Coty's current ratio of last year was 0.65382769. ==> 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.

Coty's number of shares in issue this year was 922.8. Coty's number of shares in issue last year was 886.8. ==> 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
=3826.3/6009.5
=0.63670854

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=3372.2/5268.1
=0.64011693

Coty's gross margin of this year was 0.63670854. Coty's gross margin of last year was 0.64011693. ==> 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 (Dec22)
=6009.5/12454.6
=0.48251249

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=5268.1/13434
=0.39214679

Coty's asset turnover of this year was 0.48251249. Coty's asset turnover of last year was 0.39214679. ==> 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+0+0+1
=7

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

Coty has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Coty  (NYSE:COTY) 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.


Coty Piotroski F-Score Related Terms

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Coty (COTY) Business Description

Address
350 Fifth Avenue, New York, NY, USA, 10118
Coty is a global beauty maker that focuses on fragrance (59% of sales) and color cosmetics (28%), with limited exposure to skincare (5%) and body care (8%). For its fragrance business, Coty licenses luxury and high-end brands including Gucci, Burberry, Hugo Boss, Davidoff, and Calvin Klein, while its consumer cosmetics business focuses on acquired mass brands such as CoverGirl, Max Factor, Rimmel, Sally Hansen, and Bourjois. It also collaborates with social media celebrities Kim Kardashian and Kylie Jenner to launch makeup products bearing their names. By region, Coty generates close to 45% of sales from Europe, 30% from North America, 10% from Asia, and 8% from Latin America, with the rest from travel retail. German investment firm JAB is a controlling shareholder, with a 53% stake.
Executives
Isabelle Parize director 350 FIFTH AVENUE, NEW YORK NY 10118
Jab Holdings B.v. 10 percent owner PIET HEINKADE 55, AMSTERDAM P7 NL 1019 GM
Maria Asunicion Aramburuzabala director PASEO DE LOS TAMARINDOS 400, TORRE B PISO 25, MEXICO DF O5 0000
Priya Srinivasan officer: Chief People & Purpose Officer 350 FIFTH AVENUE, NEW YORK NY 10118
Rochet Lubomira director 6425 HALL OF FAME LANE, FRISCO TX 75034
Olivier Goudet director 350 FIFTH AVENUE, NEW YORK NY 10118
Robert S Singer director 6301 FITCH PATH, NEW ALBANY OH 43054
Bretten Gordon Von officer: Chief Transformation Officer 350 FIFTH AVENUE, NEW YORK NY 10118
Kkr Rainbow Aggregator L.p. 10 percent owner C/O KOHLBERG KRAVIS ROBERTS & CO. L.P., 9 WEST 57TH STREET, SUITE 4200, NEW YORK NY 10019
Kkr Group Partnership L.p. 10 percent owner C/O KOHLBERG KRAVIS ROBERTS & CO. L.P., 30 HUDSON YARDS, NEW YORK NY 10001
Laurent Mercier officer: Chief Financial Officer 350 FIFTH AVENUE, NEW YORK NY 10118
Anna Adeola Makanju director 350 FIFTH AVENUE, NEW YORK NY 10118
Bayern Anna Von officer: Chief Corp. Affairs Officer 350 FIFTH AVENUE, NEW YORK NY 10118
Johannes P Huth director
Sue Nabi director, officer: Chief Executive Officer 350 FIFTH AVENUE, NEW YORK NY 10118