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Investment AB Oresund (LTS:0RGB) Piotroski F-Score : 6 (As of Apr. 01, 2025)


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What is Investment AB Oresund Piotroski F-Score?

The zones of discrimination were as such:

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

Investment AB Oresund has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Investment AB Oresund's Piotroski F-Score or its related term are showing as below:

LTS:0RGB' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 6

During the past 13 years, the highest Piotroski F-Score of Investment AB Oresund was 8. The lowest was 3. And the median was 6.


Investment AB Oresund Piotroski F-Score Historical Data

The historical data trend for Investment AB Oresund'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.

Investment AB Oresund Piotroski F-Score Chart

Investment AB Oresund Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 7.00 6.00 5.00 6.00

Investment AB Oresund Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
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 5.00 6.00 7.00 7.00 6.00

Competitive Comparison of Investment AB Oresund's Piotroski F-Score

For the Asset Management subindustry, Investment AB Oresund'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.


Investment AB Oresund's Piotroski F-Score Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Investment AB Oresund's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Investment AB Oresund's Piotroski F-Score falls into.


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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 (Dec24) TTM:Last Year (Dec23) TTM:
Net Income was 229.6 + 266.2 + -7.4 + -64.9 = kr423.5 Mil.
Cash Flow from Operations was 63.4 + 60.9 + 23.9 + 40.1 = kr188.3 Mil.
Revenue was 229.6 + 266.3 + -7.4 + -64.9 = kr423.6 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(4674.701 + 4904.4 + 5012.5 + 5005.1 + 4784.8) / 5 = kr4876.3002 Mil.
Total Assets at the begining of this year (Dec23) was kr4,674.7 Mil.
Long-Term Debt & Capital Lease Obligation was kr0.0 Mil.
Total Assets was kr4,784.8 Mil.
Total Liabilities was kr35.3 Mil.
Net Income was 208.8 + -233.5 + -177.7 + 448.9 = kr246.5 Mil.

Revenue was 208.7 + -233.5 + -177.6 + 448.9 = kr246.5 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(4732.433 + 4934 + 4565.1 + 4395.7 + 4674.701) / 5 = kr4660.3868 Mil.
Total Assets at the begining of last year (Dec22) was kr4,732.4 Mil.
Long-Term Debt & Capital Lease Obligation was kr21.0 Mil.
Total Assets was kr4,674.7 Mil.
Total Liabilities was kr30.8 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.

Investment AB Oresund's current Net Income (TTM) was 423.5. ==> 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.

Investment AB Oresund's current Cash Flow from Operations (TTM) was 188.3. ==> 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 (Dec23)
=423.5/4674.701
=0.09059403

ROA (Last Year)=Net Income/Total Assets (Dec22)
=246.5/4732.433
=0.05208737

Investment AB Oresund's return on assets of this year was 0.09059403. Investment AB Oresund's return on assets of last year was 0.05208737. ==> 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.

Investment AB Oresund's current Net Income (TTM) was 423.5. Investment AB Oresund's current Cash Flow from Operations (TTM) was 188.3. ==> 188.3 <= 423.5 ==> CFROA <= ROA ==> Score 0.

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: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=0/4876.3002
=0

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=21.005/4660.3868
=0.00450714

Investment AB Oresund's gearing of this year was 0. Investment AB Oresund's gearing of last year was 0.00450714. ==> 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

* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.

Current Ratio (This Year: Dec24)=Total Assets/Total Liabilities
=4784.8/35.3
=135.54674221

Current Ratio (Last Year: Dec23)=Total Assets/Total Liabilities
=4674.701/30.767
=151.93879806

Investment AB Oresund's current ratio of this year was 135.54674221. Investment AB Oresund's current ratio of last year was 151.93879806. ==> 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.

Investment AB Oresund's number of shares in issue this year was 45.458. Investment AB Oresund's number of shares in issue last year was 45.458. ==> 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.

* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.

Net Margin (This Year: TTM)=Net Income/Revenue
=423.5/423.6
=0.99976393

Net Margin (Last Year: TTM)=Net Income/Revenue
=246.5/246.5
=1

Investment AB Oresund's net margin of this year was 0.99976393. Investment AB Oresund's net margin of last year was 1. ==> Last year's net 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 (Dec23)
=423.6/4674.701
=0.09061542

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=246.5/4732.433
=0.05208737

Investment AB Oresund's asset turnover of this year was 0.09061542. Investment AB Oresund's asset turnover of last year was 0.05208737. ==> 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+0+1+0+1+0+1
=6

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

Investment AB Oresund has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Investment AB Oresund  (LTS:0RGB) 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.


Investment AB Oresund Piotroski F-Score Related Terms

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Investment AB Oresund Business Description

Traded in Other Exchanges
Address
Norrlandsgatan 15, Box 7621, Stockholm, SWE, 103 94
Investment AB Oresund is an investment management company that invests mainly in Swedish securities. Its strategy is to make long-term investments in a limited number of companies. The company's portfolio includes such listed companies as Bilia, Fabege, SEB, ABB, TeliaSonera, Volvo, Svolder, and Byggmax, as well as such unlisted entities as Carnegie and Acne.

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