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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
CompuGroup Medical SE KgaA 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 CompuGroup Medical SE KgaA's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of CompuGroup Medical SE KgaA was 8. The lowest was 3. And the median was 6.
The historical data trend for CompuGroup Medical SE KgaA'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.
CompuGroup Medical SE KgaA Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 6.00 | 6.00 | 5.00 | 4.00 | 4.00 |
CompuGroup Medical SE KgaA Quarterly Data | ||||||||||||||||||||
Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | |
Piotroski F-Score | Get a 7-Day Free Trial | 6.00 | 5.00 | 4.00 | 6.00 | 5.00 |
For the Health Information Services subindustry, CompuGroup Medical SE KgaA'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.
For the Healthcare Providers & Services industry and Healthcare sector, CompuGroup Medical SE KgaA's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where CompuGroup Medical SE KgaA'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 (Jun24) TTM: | Last Year (Jun23) TTM: |
Net Income was 15.948 + -15.904 + 18.519 + 13.929 = €32 Mil. Cash Flow from Operations was 21.804 + 43.306 + 78.833 + -5.511 = €138 Mil. Revenue was 285.718 + 306.924 + 284.624 + 277.229 = €1,154 Mil. Gross Profit was 241.107 + 256.041 + 238.031 + 234.578 = €970 Mil. Average Total Assets from the begining of this year (Jun23) to the end of this year (Jun24) was (1926.888 + 1936.225 + 1899.943 + 2007.461 + 1973.957) / 5 = €1948.8948 Mil. Total Assets at the begining of this year (Jun23) was €1,927 Mil. Long-Term Debt & Capital Lease Obligation was €777 Mil. Total Current Assets was €386 Mil. Total Current Liabilities was €396 Mil. |
Net Income was 29.337 + 13.799 + 14.38 + 31.491 = €89 Mil. Revenue was 285.387 + 327.656 + 290.843 + 304.179 = €1,208 Mil. Gross Profit was 239.855 + 267.518 + 246.763 + 261.144 = €1,015 Mil. Average Total Assets from the begining of last year (Jun22) to the end of last year (Jun23) was (1930.232 + 1959.236 + 1944.438 + 1929.916 + 1926.888) / 5 = €1938.142 Mil. Total Assets at the begining of last year (Jun22) was €1,930 Mil. Long-Term Debt & Capital Lease Obligation was €664 Mil. Total Current Assets was €381 Mil. Total Current Liabilities was €412 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.
CompuGroup Medical SE KgaA's current Net Income (TTM) was 32.
==> 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.
CompuGroup Medical SE KgaA's current Cash Flow from Operations (TTM) was 138.
==> 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 (Jun23) |
= | 32.492 | / | 1926.888 | |
= | 0.01686242 |
ROA (Last Year) | = | Net Income | / | Total Assets (Jun22) |
= | 89.007 | / | 1930.232 | |
= | 0.04611207 |
CompuGroup Medical SE KgaA's return on assets of this year was 0.01686242. CompuGroup Medical SE KgaA's return on assets of last year was 0.04611207.
==> 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.
CompuGroup Medical SE KgaA's current Net Income (TTM) was 32. CompuGroup Medical SE KgaA's current Cash Flow from Operations (TTM) was 138.
==> 138 > 32 ==> 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: Jun24) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Jun23 to Jun24 |
= | 777.359 | / | 1948.8948 | |
= | 0.39887171 |
Gearing (Last Year: Jun23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Jun22 to Jun23 |
= | 664.264 | / | 1938.142 | |
= | 0.34273237 |
CompuGroup Medical SE KgaA's gearing of this year was 0.39887171. CompuGroup Medical SE KgaA's gearing of last year was 0.34273237.
==> Last year is lower than this year ==> Score 0.
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: Jun24) | = | Total Current Assets | / | Total Current Liabilities |
= | 385.861 | / | 395.543 | |
= | 0.97552226 |
Current Ratio (Last Year: Jun23) | = | Total Current Assets | / | Total Current Liabilities |
= | 381.376 | / | 412.038 | |
= | 0.92558453 |
CompuGroup Medical SE KgaA's current ratio of this year was 0.97552226. CompuGroup Medical SE KgaA's current ratio of last year was 0.92558453.
==> 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.
CompuGroup Medical SE KgaA's number of shares in issue this year was 51.714. CompuGroup Medical SE KgaA's number of shares in issue last year was 52.298.
==> 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 |
= | 969.757 | / | 1154.495 | |
= | 0.83998372 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 1015.28 | / | 1208.065 | |
= | 0.84041835 |
CompuGroup Medical SE KgaA's gross margin of this year was 0.83998372. CompuGroup Medical SE KgaA's gross margin of last year was 0.84041835.
==> 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 (Jun23) |
= | 1154.495 | / | 1926.888 | |
= | 0.59915003 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Jun22) |
= | 1208.065 | / | 1930.232 | |
= | 0.62586518 |
CompuGroup Medical SE KgaA's asset turnover of this year was 0.59915003. CompuGroup Medical SE KgaA's asset turnover of last year was 0.62586518.
==> 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 | + | 0 | + | 1 | + | 1 | + | 0 | + | 0 | |
= | 5 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
CompuGroup Medical SE KgaA has an F-score of 5 indicating the company's financial situation is typical for a stable company.
CompuGroup Medical SE KgaA (HAM:COP) 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.
Thank you for viewing the detailed overview of CompuGroup Medical SE KgaA's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
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