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Draegerwerk AG KGaA (LTS:0K5E) Piotroski F-Score : 9 (As of Oct. 31, 2024)


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What is Draegerwerk AG KGaA Piotroski F-Score?

Good Sign:

Piotroski F-Score is 9, 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

Draegerwerk AG KGaA has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Draegerwerk AG KGaA's Piotroski F-Score or its related term are showing as below:

LTS:0K5E' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 6   Max: 9
Current: 9

During the past 13 years, the highest Piotroski F-Score of Draegerwerk AG KGaA was 9. The lowest was 1. And the median was 6.


Draegerwerk AG KGaA Piotroski F-Score Historical Data

The historical data trend for Draegerwerk AG 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.

* Premium members only.

Draegerwerk AG KGaA Piotroski F-Score Chart

Draegerwerk AG KGaA 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 5.00 7.00 5.00 1.00 7.00

Draegerwerk AG 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 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 7.00 7.00 8.00 9.00

Competitive Comparison of Draegerwerk AG KGaA's Piotroski F-Score

For the Medical Devices subindustry, Draegerwerk AG 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.


Draegerwerk AG KGaA's Piotroski F-Score Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Draegerwerk AG KGaA's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Draegerwerk AG 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 17.623 + 65.058 + 7.082 + 26.636 = €116 Mil.
Cash Flow from Operations was 54.105 + 142.896 + 33.533 + -39.025 = €192 Mil.
Revenue was 788.502 + 1052.617 + 735.818 + 784.675 = €3,362 Mil.
Gross Profit was 346.845 + 437.982 + 333.636 + 347.886 = €1,466 Mil.
Average Total Assets from the begining of this year (Jun23)
to the end of this year (Jun24) was
(2976.502 + 3001.571 + 3094.549 + 3029.507 + 3031.215) / 5 = €3026.6688 Mil.
Total Assets at the begining of this year (Jun23) was €2,977 Mil.
Long-Term Debt & Capital Lease Obligation was €336 Mil.
Total Current Assets was €1,809 Mil.
Total Current Liabilities was €965 Mil.
Net Income was -35.071 + 48.342 + 17.035 + 10.716 = €41 Mil.

Revenue was 724.619 + 1018.207 + 761.126 + 771.259 = €3,275 Mil.
Gross Profit was 294.502 + 417.624 + 342.755 + 332.109 = €1,387 Mil.
Average Total Assets from the begining of last year (Jun22)
to the end of last year (Jun23) was
(2953.988 + 2975.18 + 3106.576 + 3007.204 + 2976.502) / 5 = €3003.89 Mil.
Total Assets at the begining of last year (Jun22) was €2,954 Mil.
Long-Term Debt & Capital Lease Obligation was €338 Mil.
Total Current Assets was €1,785 Mil.
Total Current Liabilities was €987 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.

Draegerwerk AG KGaA's current Net Income (TTM) was 116. ==> 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.

Draegerwerk AG KGaA's current Cash Flow from Operations (TTM) was 192. ==> 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)
=116.399/2976.502
=0.03910597

ROA (Last Year)=Net Income/Total Assets (Jun22)
=41.022/2953.988
=0.01388699

Draegerwerk AG KGaA's return on assets of this year was 0.03910597. Draegerwerk AG KGaA's return on assets of last year was 0.01388699. ==> 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.

Draegerwerk AG KGaA's current Net Income (TTM) was 116. Draegerwerk AG KGaA's current Cash Flow from Operations (TTM) was 192. ==> 192 > 116 ==> 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
=336.456/3026.6688
=0.1111638

Gearing (Last Year: Jun23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun22 to Jun23
=337.553/3003.89
=0.11237196

Draegerwerk AG KGaA's gearing of this year was 0.1111638. Draegerwerk AG KGaA's gearing of last year was 0.11237196. ==> 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: Jun24)=Total Current Assets/Total Current Liabilities
=1809.358/964.771
=1.87542743

Current Ratio (Last Year: Jun23)=Total Current Assets/Total Current Liabilities
=1784.936/987.063
=1.80833037

Draegerwerk AG KGaA's current ratio of this year was 1.87542743. Draegerwerk AG KGaA's current ratio of last year was 1.80833037. ==> 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.

Draegerwerk AG KGaA's number of shares in issue this year was 18.758. Draegerwerk AG KGaA's number of shares in issue last year was 18.8. ==> 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
=1466.349/3361.612
=0.43620412

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1386.99/3275.211
=0.42348111

Draegerwerk AG KGaA's gross margin of this year was 0.43620412. Draegerwerk AG KGaA's gross margin of last year was 0.42348111. ==> 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 (Jun23)
=3361.612/2976.502
=1.12938342

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun22)
=3275.211/2953.988
=1.10874215

Draegerwerk AG KGaA's asset turnover of this year was 1.12938342. Draegerwerk AG KGaA's asset turnover of last year was 1.10874215. ==> 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+1+1
=9

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

Draegerwerk AG KGaA has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

Draegerwerk AG KGaA  (LTS:0K5E) 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.


Draegerwerk AG KGaA Piotroski F-Score Related Terms

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Draegerwerk AG KGaA Business Description

Address
Moislinger Allee 53–55, Lubeck, DEU, 23542
Draegerwerk AG & Co KGaA develops medical and safety equipment for clinical and industrial applications. The firm operates in two segments: medical and safety. The medical division contributes the majority of revenue, it develops and produces system solutions, equipment, and services for the acute point of care, it has five business units Therapy, Hospital Consumables & Accessories, Workplace Infrastructure, Monitoring, and Data Business. Its safety division develops and produces devices, system solutions, and services for personal protection, gas detection, and integrated hazard management. Its geographical segments are Europe; Germany; the Americas; Africa, Asia, and Australia.

Draegerwerk AG KGaA Headlines

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