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Greencore Group (Greencore Group) 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

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

GNCGF' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 6   Max: 7
Current: 7

During the past 13 years, the highest Piotroski F-Score of Greencore Group was 7. The lowest was 5. And the median was 6.


Greencore Group Piotroski F-Score Historical Data

The historical data trend for Greencore Group'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.

Greencore Group Annual Data
Trend Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 5.00 6.00 6.00 7.00

Greencore Group Semi-Annual Data
Mar14 Sep14 Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23
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

Competitive Comparison

For the Packaged Foods subindustry, Greencore Group'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.


Greencore Group Piotroski F-Score Distribution

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

* The bar in red indicates where Greencore Group'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 (Sep23) TTM:Last Year (Sep22) TTM:
Net Income was $44 Mil.
Cash Flow from Operations was $123 Mil.
Revenue was $2,368 Mil.
Gross Profit was $704 Mil.
Average Total Assets from the begining of this year (Sep22)
to the end of this year (Sep23) was (1516.082 + 1606.064) / 2 = $1561.073 Mil.
Total Assets at the begining of this year (Sep22) was $1,516 Mil.
Long-Term Debt & Capital Lease Obligation was $194 Mil.
Total Current Assets was $525 Mil.
Total Current Liabilities was $765 Mil.
Net Income was $37 Mil.

Revenue was $1,970 Mil.
Gross Profit was $592 Mil.
Average Total Assets from the begining of last year (Sep21)
to the end of last year (Sep22) was (1774.038 + 1516.082) / 2 = $1645.06 Mil.
Total Assets at the begining of last year (Sep21) was $1,774 Mil.
Long-Term Debt & Capital Lease Obligation was $276 Mil.
Total Current Assets was $469 Mil.
Total Current Liabilities was $615 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.

Greencore Group's current Net Income (TTM) was 44. ==> 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.

Greencore Group's current Cash Flow from Operations (TTM) was 123. ==> 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 (Sep22)
=44.431/1516.082
=0.02930646

ROA (Last Year)=Net Income/Total Assets (Sep21)
=36.58/1774.038
=0.02061963

Greencore Group's return on assets of this year was 0.02930646. Greencore Group's return on assets of last year was 0.02061963. ==> 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.

Greencore Group's current Net Income (TTM) was 44. Greencore Group's current Cash Flow from Operations (TTM) was 123. ==> 123 > 44 ==> 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: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=193.688/1561.073
=0.12407363

Gearing (Last Year: Sep22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep21 to Sep22
=275.651/1645.06
=0.16756289

Greencore Group's gearing of this year was 0.12407363. Greencore Group's gearing of last year was 0.16756289. ==> 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: Sep23)=Total Current Assets/Total Current Liabilities
=525.371/765.347
=0.68644811

Current Ratio (Last Year: Sep22)=Total Current Assets/Total Current Liabilities
=468.969/614.723
=0.76289483

Greencore Group's current ratio of this year was 0.68644811. Greencore Group's current ratio of last year was 0.76289483. ==> 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.

Greencore Group's number of shares in issue this year was 496.537. Greencore Group's number of shares in issue last year was 525.505. ==> 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
=703.96/2368.441
=0.29722505

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=592.299/1970.102
=0.30064382

Greencore Group's gross margin of this year was 0.29722505. Greencore Group's gross margin of last year was 0.30064382. ==> 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 (Sep22)
=2368.441/1516.082
=1.56221167

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep21)
=1970.102/1774.038
=1.11051849

Greencore Group's asset turnover of this year was 1.56221167. Greencore Group's asset turnover of last year was 1.11051849. ==> 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+0+1
=7

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

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

Greencore Group  (OTCPK:GNCGF) 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.


Greencore Group Piotroski F-Score Related Terms

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Greencore Group (Greencore Group) Business Description

Traded in Other Exchanges
Address
No. 2 Northwood Avenue, Northwood Business Park, Santry, Dublin, IRL, D09 X5N9
Greencore Group PLC is a convenience food manufacturer that supplies chilled and frozen food to customers based in U.K. and the U.S. The company's operating business segment is Convenience Foods UK & Ireland. The UK Convenience Food categories including sandwiches, sushi, salads, chilled ready meals, chilled soups and sauces, chilled quiche, ambient sauces and pickles, frozen Yorkshire Puddings and cakes and desserts categories as well as the Irish Ingredients trading business.

Greencore Group (Greencore Group) Headlines

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