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Capri Holdings (NYSE:CPRI) Piotroski F-Score

: 5 (As of Today)
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The zones of discrimination were as such:

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

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

CPRI' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 5

During the past 13 years, the highest Piotroski F-Score of Capri Holdings was 8. The lowest was 3. And the median was 6.


Capri Holdings Piotroski F-Score Historical Data

The historical data trend for Capri Holdings'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.

Capri Holdings Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 4.00 5.00 8.00 6.00

Capri Holdings 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 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 Premium Member Only Premium Member Only Premium Member Only 7.00 6.00 6.00 4.00 5.00

Competitive Comparison

For the Luxury Goods subindustry, Capri Holdings'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.


Capri Holdings Piotroski F-Score Distribution

For the Retail - Cyclical industry and Consumer Cyclical sector, Capri Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Capri Holdings'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 -34 + 48 + 90 + 105 = $209 Mil.
Cash Flow from Operations was 155 + 40 + -137 + 362 = $420 Mil.
Revenue was 1335 + 1229 + 1291 + 1427 = $5,282 Mil.
Gross Profit was 867 + 812 + 832 + 928 = $3,439 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(7554 + 7295 + 7409 + 7346 + 7617) / 5 = $7444.2 Mil.
Total Assets at the begining of this year (Dec22) was $7,554 Mil.
Long-Term Debt & Capital Lease Obligation was $2,842 Mil.
Total Current Assets was $1,918 Mil.
Total Current Liabilities was $1,815 Mil.
Net Income was 81 + 201 + 224 + 225 = $731 Mil.

Revenue was 1492 + 1360 + 1412 + 1512 = $5,776 Mil.
Gross Profit was 956 + 901 + 951 + 1005 = $3,813 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(7680 + 7480 + 7610 + 7202 + 7554) / 5 = $7505.2 Mil.
Total Assets at the begining of last year (Dec21) was $7,680 Mil.
Long-Term Debt & Capital Lease Obligation was $2,913 Mil.
Total Current Assets was $2,084 Mil.
Total Current Liabilities was $1,559 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.

Capri Holdings's current Net Income (TTM) was 209. ==> 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.

Capri Holdings's current Cash Flow from Operations (TTM) was 420. ==> 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)
=209/7554
=0.02766746

ROA (Last Year)=Net Income/Total Assets (Dec21)
=731/7680
=0.09518229

Capri Holdings's return on assets of this year was 0.02766746. Capri Holdings's return on assets of last year was 0.09518229. ==> 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.

Capri Holdings's current Net Income (TTM) was 209. Capri Holdings's current Cash Flow from Operations (TTM) was 420. ==> 420 > 209 ==> 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
=2842/7444.2
=0.38177373

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=2913/7505.2
=0.3881309

Capri Holdings's gearing of this year was 0.38177373. Capri Holdings's gearing of last year was 0.3881309. ==> 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
=1918/1815
=1.05674931

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=2084/1559
=1.33675433

Capri Holdings's current ratio of this year was 1.05674931. Capri Holdings's current ratio of last year was 1.33675433. ==> 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.

Capri Holdings's number of shares in issue this year was 118.164. Capri Holdings's number of shares in issue last year was 130.365. ==> 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
=3439/5282
=0.65107914

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=3813/5776
=0.66014543

Capri Holdings's gross margin of this year was 0.65107914. Capri Holdings's gross margin of last year was 0.66014543. ==> 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)
=5282/7554
=0.69923219

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=5776/7680
=0.75208333

Capri Holdings's asset turnover of this year was 0.69923219. Capri Holdings's asset turnover of last year was 0.75208333. ==> Last year's asset turnover is higher ==> Score 0.

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+1+0+0
=5

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

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

Capri Holdings  (NYSE:CPRI) 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.


Capri Holdings Piotroski F-Score Related Terms

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Capri Holdings (NYSE:CPRI) Business Description

Traded in Other Exchanges
Address
90 Whitfield Street, 2nd Floor, London, GBR, W1T 4EZ
Michael Kors, Versace, and Jimmy Choo are the brands of Capri Holdings, a marketer, distributor, and retailer of upscale accessories and apparel. Michael Kors, Capri's largest brand, offers handbags, footwear, and apparel through more than 800 company-owned stores, wholesale, and e-commerce. Versace (acquired in 2018) is known for its ready-to-wear luxury fashion, while Jimmy Choo (acquired in 2017) is best known for women's luxury footwear. John Idol has served as CEO since 2003.
Executives
Cedric Wilmotte officer: CEO - Michael Kors C/O CAPRI HOLDINGS LIMITED, 90 WHITFIELD STREET, 2ND FLOOR, LONDON X0 W1T 4EZ
Mahesh Madhavan director C/O CAPRI HOLDINGS LIMITED, 90 WHITFIELD STREET, 2ND FLOOR, LONDON X0 W1T 4EZ
Judy Gibbons director C/O MICHAEL KORS (USA), INC., 11 WEST 42ND STREET, NEW YORK NY 10036
John D Idol director, officer: Chairman & CEO 650 MADISON AVE, NEW YORK NY 10022
Daniel Purefoy officer: SVP, Global Ops 33 KINGSWAY, LONDON X0 WC2B 6UF
Thomas Jr. Edwards officer: EVP, CFO, COO & Treasurer 6820 LBJ FREEWAY, DALLAS TX 75240
Stephen F Reitman director 11 WEST 42ND STREET, 21ST FLOOR, NEW YORK NY 10036
Krista A Mcdonough officer: SVP, General Counsel 33 KINGSWAY, LONDON X0 WC2B 6UF
Joshua Schulman officer: CEO - Michael Kors 603 WEST 50TH STREET, NEW YORK X1 10019
Marilyn C Crouther director 1902 RESTON METRO PLAZA, RESTON VA 20190
Jenna Hendricks officer: SVP, Chief People Officer 33 KINGSWAY, LONDON X0 WC2B 6UF
Jean Tomlin director C/O MICHAEL KORS (USA), INC., 11 WEST 42ND STREET, NEW YORK NY 10036
Freestone Robin Anthony David director 33 KINGSWAY, LONDON X0 WC2B 6UF
Ann Mclaughlin Korologos director PO BOX 3599, BATTLECREEK MI 49016-3599
Cathy Marie Robinson officer: SVP, Corp Str & Ch Ops Off C/O MICHAEL KORS (USA), INC., 11 WEST 42ND STREET, NEW YORK NY 10036

Capri Holdings (NYSE:CPRI) Headlines

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