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Vitrolife AB (LTS:0YAY) Piotroski F-Score : 6 (As of Mar. 02, 2025)


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What is Vitrolife AB 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

Vitrolife AB 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 Vitrolife AB's Piotroski F-Score or its related term are showing as below:

LTS:0YAY' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 6   Max: 8
Current: 6

During the past 13 years, the highest Piotroski F-Score of Vitrolife AB was 8. The lowest was 5. And the median was 6.


Vitrolife AB Piotroski F-Score Historical Data

The historical data trend for Vitrolife AB'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.

Vitrolife AB Piotroski F-Score Chart

Vitrolife AB 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 6.00 6.00 5.00 7.00 6.00

Vitrolife AB 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 7.00 5.00 4.00 3.00 6.00

Competitive Comparison of Vitrolife AB's Piotroski F-Score

For the Medical Devices subindustry, Vitrolife AB'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.


Vitrolife AB's Piotroski F-Score Distribution in the Medical Devices & Instruments Industry

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

* The bar in red indicates where Vitrolife AB'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 (Dec24) TTM:Last Year (Dec23) TTM:
Net Income was 115 + 143 + 116 + 139 = kr513 Mil.
Cash Flow from Operations was 198 + 236 + 206 + 268 = kr908 Mil.
Revenue was 841 + 941 + 867 + 959 = kr3,608 Mil.
Gross Profit was 481 + 564 + 508 + 586 = kr2,139 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(16329 + 16873 + 16852 + 16884 + 17446) / 5 = kr16876.8 Mil.
Total Assets at the begining of this year (Dec23) was kr16,329 Mil.
Long-Term Debt & Capital Lease Obligation was kr1,929 Mil.
Total Current Assets was kr2,357 Mil.
Total Current Liabilities was kr705 Mil.
Net Income was 100 + 106 + 122 + -4179 = kr-3,851 Mil.

Revenue was 854 + 905 + 848 + 904 = kr3,511 Mil.
Gross Profit was 485 + 505 + 473 + 514 = kr1,977 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(20551 + 20762 + 21648 + 21180 + 16329) / 5 = kr20094 Mil.
Total Assets at the begining of last year (Dec22) was kr20,551 Mil.
Long-Term Debt & Capital Lease Obligation was kr1,942 Mil.
Total Current Assets was kr1,914 Mil.
Total Current Liabilities was kr557 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.

Vitrolife AB's current Net Income (TTM) was 513. ==> 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.

Vitrolife AB's current Cash Flow from Operations (TTM) was 908. ==> 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)
=513/16329
=0.0314165

ROA (Last Year)=Net Income/Total Assets (Dec22)
=-3851/20551
=-0.18738748

Vitrolife AB's return on assets of this year was 0.0314165. Vitrolife AB's return on assets of last year was -0.18738748. ==> 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.

Vitrolife AB's current Net Income (TTM) was 513. Vitrolife AB's current Cash Flow from Operations (TTM) was 908. ==> 908 > 513 ==> 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: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=1929/16876.8
=0.11429892

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=1942/20094
=0.09664576

Vitrolife AB's gearing of this year was 0.11429892. Vitrolife AB's gearing of last year was 0.09664576. ==> 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: Dec24)=Total Current Assets/Total Current Liabilities
=2357/705
=3.34326241

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=1914/557
=3.43626571

Vitrolife AB's current ratio of this year was 3.34326241. Vitrolife AB's current ratio of last year was 3.43626571. ==> 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.

Vitrolife AB's number of shares in issue this year was 135.709. Vitrolife AB's number of shares in issue last year was 135.395. ==> There is larger number of shares in issue this year. ==> Score 0.

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
=2139/3608
=0.59284922

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1977/3511
=0.56308744

Vitrolife AB's gross margin of this year was 0.59284922. Vitrolife AB's gross margin of last year was 0.56308744. ==> 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 (Dec23)
=3608/16329
=0.22095658

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=3511/20551
=0.17084327

Vitrolife AB's asset turnover of this year was 0.22095658. Vitrolife AB's asset turnover of last year was 0.17084327. ==> 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+0+0+0+1+1
=6

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

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

Vitrolife AB  (LTS:0YAY) 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.


Vitrolife AB Piotroski F-Score Related Terms

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Vitrolife AB Business Description

Traded in Other Exchanges
Address
Box 9080, Gothenburg, SWE, 400 92
Vitrolife AB provides medical devices and genetic testing services intended for the reproductive-health market in the field of reproductive health. The company develops, manufactures, and distributes medical devices and provides genetic testing services for IVF clinics and their patients. Its mission is to support IVF clinics (in vitro fertilization) in enhancing their practice as well as the outcome of a patient's fertility treatment, thereby enabling patients to receive support to navigate the complexities of reproductive health through successful outcomes and patient satisfaction. The group has three geographical segments EMEA, Americas and APAC, out of which it derives maximum revenue from EMEA.

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