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EnerSys (EnerSys) Piotroski F-Score : 7 (As of Jul. 22, 2024)


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What is EnerSys Piotroski F-Score?

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

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

ENS' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 7   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of EnerSys was 8. The lowest was 4. And the median was 7.


EnerSys Piotroski F-Score Historical Data

The historical data trend for EnerSys'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.

EnerSys Piotroski F-Score Chart

EnerSys Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 4.00 4.00 8.00 7.00

EnerSys Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 8.00 7.00 7.00 8.00 7.00

Competitive Comparison of EnerSys's Piotroski F-Score

For the Electrical Equipment & Parts subindustry, EnerSys'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.


EnerSys's Piotroski F-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, EnerSys's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where EnerSys'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 (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was 66.797 + 65.229 + 76.158 + 60.912 = $269 Mil.
Cash Flow from Operations was 74.946 + 110.777 + 134.524 + 136.782 = $457 Mil.
Revenue was 908.569 + 901.033 + 861.548 + 910.721 = $3,582 Mil.
Gross Profit was 240.306 + 239.619 + 248.648 + 254.318 = $983 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(3616.674 + 3480.977 + 3492.993 + 3502.638 + 3466.006) / 5 = $3511.8576 Mil.
Total Assets at the begining of this year (Mar23) was $3,617 Mil.
Long-Term Debt & Capital Lease Obligation was $864 Mil.
Total Current Assets was $1,783 Mil.
Total Current Liabilities was $724 Mil.
Net Income was 30.978 + 34.472 + 44.41 + 65.95 = $176 Mil.

Revenue was 898.971 + 899.437 + 920.227 + 989.944 = $3,709 Mil.
Gross Profit was 185.535 + 194.891 + 213.648 + 246.064 = $840 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(3736.646 + 3721.911 + 3624.163 + 3567.867 + 3616.674) / 5 = $3653.4522 Mil.
Total Assets at the begining of last year (Mar22) was $3,737 Mil.
Long-Term Debt & Capital Lease Obligation was $1,042 Mil.
Total Current Assets was $1,896 Mil.
Total Current Liabilities was $718 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.

EnerSys's current Net Income (TTM) was 269. ==> 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.

EnerSys's current Cash Flow from Operations (TTM) was 457. ==> 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 (Mar23)
=269.096/3616.674
=0.07440427

ROA (Last Year)=Net Income/Total Assets (Mar22)
=175.81/3736.646
=0.04705022

EnerSys's return on assets of this year was 0.07440427. EnerSys's return on assets of last year was 0.04705022. ==> 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.

EnerSys's current Net Income (TTM) was 269. EnerSys's current Cash Flow from Operations (TTM) was 457. ==> 457 > 269 ==> 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: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=864.299/3511.8576
=0.24610878

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=1042.243/3653.4522
=0.28527621

EnerSys's gearing of this year was 0.24610878. EnerSys's gearing of last year was 0.28527621. ==> 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: Mar24)=Total Current Assets/Total Current Liabilities
=1782.696/723.857
=2.46277372

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=1895.881/718.32
=2.63932648

EnerSys's current ratio of this year was 2.46277372. EnerSys's current ratio of last year was 2.63932648. ==> 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.

EnerSys's number of shares in issue this year was 41.055. EnerSys's number of shares in issue last year was 41.505. ==> 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
=982.891/3581.871
=0.27440715

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=840.138/3708.579
=0.22653906

EnerSys's gross margin of this year was 0.27440715. EnerSys's gross margin of last year was 0.22653906. ==> 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 (Mar23)
=3581.871/3616.674
=0.99037707

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=3708.579/3736.646
=0.99248872

EnerSys's asset turnover of this year was 0.99037707. EnerSys's asset turnover of last year was 0.99248872. ==> 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+1+1+1+0+1+1+0
=7

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

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

EnerSys  (NYSE:ENS) 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.


EnerSys Piotroski F-Score Related Terms

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EnerSys (EnerSys) Business Description

Traded in Other Exchanges
Address
2366 Bernville Road, Reading, PA, USA, 19605
EnerSys provides stored energy solutions for industrial applications. It also manufactures and distributes energy systems solutions and motive power batteries, specialty batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. Energy Systems which combine enclosures, power conversion, power distribution and energy storage are used in the telecommunication and broadband, utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions. Its segments include Energy Systems, Motive Power, and Specialty.
Executives
Andrew M. Zogby officer: Pres, Energy Systems-Americas 2366 BERNVILLE ROAD, READING PA 19605
Tamara Morytko director 1250 NE LOOP 410, SUITE 1000, SAN ANTONIO TX 78209
Rudolph W. Wynter director C/O ENERSYS, 2366 BERNVILLE ROAD, READING PA 19605
Andrea J. Funk officer: EVP & Chief Financial Officer C/O CROWN HOLDINGS, INC., 770 TOWNSHIP LINE ROAD, YARDLEY PA 19067
Joern Tinnemeyer officer: Sr. VP & CTO C/O ENERSYS, 2366 BERNVILLE ROAD, READING PA 19605
Shawn M. O'connell officer: Pres, Motive Power Americas 2366 BERNVILLE ROAD, READING PA 19605
David M Shaffer officer: President, EMEA C/O ENERSYS, 2366 BERNVILLE ROAD, READING PA 19605
Caroline Chan director 2366 BERNVILLE ROAD, READING PA 19605
Steven M Fludder director 264 NANTASKET ROAD, HULL MA 02045
Holger P Aschke officer: President - EMEA C/O ENERSYS, 2366 BERNVILLE ROAD, READING PA 19605
Todd M. Sechrist officer: SVP - Americas C/O ENERSYS, 2366 BERNVILLE ROAD, READING PA 19605
Myles Jones officer: President - Asia C/O ENERSYS, 2366 BERNVILLE ROAD, READING PA 19605
Jeffrey W. Long officer: President, Americas C/O ENERSYS, 2366 BERNVILLE ROAD, READING PA 19605
Nelda J Connors director BOSTON SCIENTIFIC CORPORATION, 300 BOSTON SCIENTIFIC WAY, MARLBOROUGH MA 01752-1234
Ronald P Vargo director 41 UNIVERSITY DRIVE, SUITE 202, NEWTOWN PA 18940