GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Beverages - Alcoholic » PARK & Bellheimer AG (FRA:PKB) » Definitions » Piotroski F-Score

PARK & Bellheimer AG (FRA:PKB) Piotroski F-Score : 8 (As of Dec. 11, 2024)


View and export this data going back to 1992. Start your Free Trial

What is PARK & Bellheimer 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

PARK & Bellheimer 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 PARK & Bellheimer AG's Piotroski F-Score or its related term are showing as below:

FRA:PKB' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 9
Current: 8

During the past 13 years, the highest Piotroski F-Score of PARK & Bellheimer AG was 9. The lowest was 4. And the median was 6.


PARK & Bellheimer AG Piotroski F-Score Historical Data

The historical data trend for PARK & Bellheimer 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.

PARK & Bellheimer AG Piotroski F-Score Chart

PARK & Bellheimer 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 4.00 5.00 6.00 9.00 8.00

PARK & Bellheimer 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 - 9.00 - 8.00 -

Competitive Comparison of PARK & Bellheimer AG's Piotroski F-Score

For the Beverages - Brewers subindustry, PARK & Bellheimer 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.


PARK & Bellheimer AG's Piotroski F-Score Distribution in the Beverages - Alcoholic Industry

For the Beverages - Alcoholic industry and Consumer Defensive sector, PARK & Bellheimer AG's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where PARK & Bellheimer 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 €2.03 Mil.
Cash Flow from Operations was €6.89 Mil.
Revenue was €24.35 Mil.
Gross Profit was €18.09 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (33.818 + 34.285) / 2 = €34.0515 Mil.
Total Assets at the begining of this year (Dec22) was €33.82 Mil.
Long-Term Debt & Capital Lease Obligation was €6.41 Mil.
Total Current Assets was €13.74 Mil.
Total Current Liabilities was €11.34 Mil.
Net Income was €1.72 Mil.

Revenue was €22.12 Mil.
Gross Profit was €17.08 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (32.862 + 33.818) / 2 = €33.34 Mil.
Total Assets at the begining of last year (Dec21) was €32.86 Mil.
Long-Term Debt & Capital Lease Obligation was €8.98 Mil.
Total Current Assets was €13.16 Mil.
Total Current Liabilities was €11.14 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.

PARK & Bellheimer AG's current Net Income (TTM) was 2.03. ==> 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.

PARK & Bellheimer AG's current Cash Flow from Operations (TTM) was 6.89. ==> 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)
=2.033/33.818
=0.06011591

ROA (Last Year)=Net Income/Total Assets (Dec21)
=1.721/32.862
=0.05237052

PARK & Bellheimer AG's return on assets of this year was 0.06011591. PARK & Bellheimer AG's return on assets of last year was 0.05237052. ==> 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.

PARK & Bellheimer AG's current Net Income (TTM) was 2.03. PARK & Bellheimer AG's current Cash Flow from Operations (TTM) was 6.89. ==> 6.89 > 2.03 ==> 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
=6.409/34.0515
=0.18821491

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=8.983/33.34
=0.26943611

PARK & Bellheimer AG's gearing of this year was 0.18821491. PARK & Bellheimer AG's gearing of last year was 0.26943611. ==> 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
=13.743/11.339
=1.21201164

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=13.155/11.143
=1.18056179

PARK & Bellheimer AG's current ratio of this year was 1.21201164. PARK & Bellheimer AG's current ratio of last year was 1.18056179. ==> 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.

PARK & Bellheimer AG's number of shares in issue this year was 5. PARK & Bellheimer AG's number of shares in issue last year was 5. ==> 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
=18.092/24.354
=0.74287591

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=17.08/22.115
=0.77232648

PARK & Bellheimer AG's gross margin of this year was 0.74287591. PARK & Bellheimer AG's gross margin of last year was 0.77232648. ==> 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)
=24.354/33.818
=0.72014903

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=22.115/32.862
=0.67296574

PARK & Bellheimer AG's asset turnover of this year was 0.72014903. PARK & Bellheimer AG's asset turnover of last year was 0.67296574. ==> 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+1+0+1
=8

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

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

PARK & Bellheimer AG  (FRA:PKB) 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.


PARK & Bellheimer AG Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of PARK & Bellheimer AG's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


PARK & Bellheimer AG Business Description

Traded in Other Exchanges
Address
Zweibrucker Strasse 4, Pirmasens, DEU, 66953
PARK & Bellheimer AG is a beverage manufacturer producing both alcohol-free beverages and obergarige beers. group that deals with the production and sale of bottom- and top-fermented beer and mixed beer drinks as well as non-alcoholic drinks. In addition, the management of the owned land and buildings operated, in part, for operational purposes of production and distribution used by beer and non-alcoholic beverages, but sometimes not represent operational assets and for rental and value appreciation purposes are used.
Executives
Roald Pauli Board of Directors

PARK & Bellheimer AG Headlines