GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Packaging & Containers » Mayr-Melnhof Karton AG (OTCPK:MNHFF) » Definitions » Piotroski F-Score

MNHFF (Mayr-Melnhof Karton AG) Piotroski F-Score : 5 (As of Mar. 14, 2025)


View and export this data going back to 2012. Start your Free Trial

What is Mayr-Melnhof Karton AG 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

Mayr-Melnhof Karton AG 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 Mayr-Melnhof Karton AG's Piotroski F-Score or its related term are showing as below:

MNHFF' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 7   Max: 9
Current: 5

During the past 13 years, the highest Piotroski F-Score of Mayr-Melnhof Karton AG was 9. The lowest was 4. And the median was 7.


Mayr-Melnhof Karton AG Piotroski F-Score Historical Data

The historical data trend for Mayr-Melnhof Karton AG'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.

Mayr-Melnhof Karton AG Piotroski F-Score Chart

Mayr-Melnhof Karton AG 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 7.00 6.00 6.00 7.00 5.00

Mayr-Melnhof Karton AG Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
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 6.00 5.00 5.00

Competitive Comparison of Mayr-Melnhof Karton AG's Piotroski F-Score

For the Packaging & Containers subindustry, Mayr-Melnhof Karton AG'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.


Mayr-Melnhof Karton AG's Piotroski F-Score Distribution in the Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, Mayr-Melnhof Karton AG's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Mayr-Melnhof Karton AG'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 (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was -2.927 + 11.296 + 27.957 + 15.998 = $52 Mil.
Cash Flow from Operations was 500.42 + 57.099 + 159.38 + -36.574 = $680 Mil.
Revenue was 1055.527 + 1114.161 + 1096.741 + 1137.478 = $4,404 Mil.
Gross Profit was 471.528 + 502.442 + 518.525 + 534.557 = $2,027 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(5108.215 + 5536.41 + 5450.891 + 5364.836 + 5492.012) / 5 = $5390.4728 Mil.
Total Assets at the begining of this year (Sep23) was $5,108 Mil.
Long-Term Debt & Capital Lease Obligation was $0 Mil.
Total Current Assets was $1,930 Mil.
Total Current Liabilities was $1,111 Mil.
Net Income was 32.192 + 36.718 + 30.366 + 29.413 = $129 Mil.

Revenue was 1304.707 + 1201.419 + 1147.593 + 1083.385 = $4,737 Mil.
Gross Profit was 578.128 + 533.123 + 510.808 + 494.797 = $2,117 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(4620.242 + 5094.036 + 5231.248 + 5262.393 + 5108.215) / 5 = $5063.2268 Mil.
Total Assets at the begining of last year (Sep22) was $4,620 Mil.
Long-Term Debt & Capital Lease Obligation was $0 Mil.
Total Current Assets was $1,883 Mil.
Total Current Liabilities was $993 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.

Mayr-Melnhof Karton AG's current Net Income (TTM) was 52. ==> 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.

Mayr-Melnhof Karton AG's current Cash Flow from Operations (TTM) was 680. ==> 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 (Sep23)
=52.324/5108.215
=0.01024311

ROA (Last Year)=Net Income/Total Assets (Sep22)
=128.689/4620.242
=0.0278533

Mayr-Melnhof Karton AG's return on assets of this year was 0.01024311. Mayr-Melnhof Karton AG's return on assets of last year was 0.0278533. ==> 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.

Mayr-Melnhof Karton AG's current Net Income (TTM) was 52. Mayr-Melnhof Karton AG's current Cash Flow from Operations (TTM) was 680. ==> 680 > 52 ==> 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: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=0/5390.4728
=0

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=0/5063.2268
=0

Mayr-Melnhof Karton AG's gearing of this year was 0. Mayr-Melnhof Karton AG's gearing of last year was 0. ==> 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: Sep24)=Total Current Assets/Total Current Liabilities
=1929.839/1111.17
=1.73676305

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=1882.941/993.275
=1.89568951

Mayr-Melnhof Karton AG's current ratio of this year was 1.73676305. Mayr-Melnhof Karton AG's current ratio of last year was 1.89568951. ==> 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.

Mayr-Melnhof Karton AG's number of shares in issue this year was 20.019. Mayr-Melnhof Karton AG's number of shares in issue last year was 19.971. ==> 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
=2027.052/4403.907
=0.46028492

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2116.856/4737.104
=0.44686712

Mayr-Melnhof Karton AG's gross margin of this year was 0.46028492. Mayr-Melnhof Karton AG's gross margin of last year was 0.44686712. ==> 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 (Sep23)
=4403.907/5108.215
=0.86212248

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=4737.104/4620.242
=1.02529348

Mayr-Melnhof Karton AG's asset turnover of this year was 0.86212248. Mayr-Melnhof Karton AG's asset turnover of last year was 1.02529348. ==> 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+1+0+0+1+0
=5

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

Mayr-Melnhof Karton AG has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Mayr-Melnhof Karton AG  (OTCPK:MNHFF) 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.


Mayr-Melnhof Karton AG Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Mayr-Melnhof Karton AG's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Mayr-Melnhof Karton AG Business Description

Address
Brahmsplatz 6, Vienna, AUT, A-1040
Mayr-Melnhof Karton AG manufactures and sells a variety of folding cartons for consumer goods packaging. The firm organizes itself into two segments based on the product type. The MM packaging segment, which generates the majority of revenue, sells packaging for consumer goods, which include cigarettes, pharmaceuticals, detergents, personal care products, and luxury products. The MM Board & Paper segment manufactures and markets numerous grades of cartonboard, focusing on coated cartonboard produced predominantly from recycled fibers as well as virgin fiber-based cartonboard. The vast majority of revenue comes from Europe.