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MaxLinear (MaxLinear) Piotroski F-Score

: 4 (As of Today)
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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

MaxLinear has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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

MXL' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 8
Current: 4

During the past 13 years, the highest Piotroski F-Score of MaxLinear was 8. The lowest was 3. And the median was 5.


MaxLinear Piotroski F-Score Historical Data

The historical data trend for MaxLinear'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.

MaxLinear Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 3.00 8.00 7.00 4.00

MaxLinear Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Piotroski F-Score 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 Premium Member Only Premium Member Only Premium Member Only 7.00 8.00 5.00 4.00 4.00

Competitive Comparison

For the Semiconductors subindustry, MaxLinear'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.


MaxLinear Piotroski F-Score Distribution

For the Semiconductors industry and Technology sector, MaxLinear's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where MaxLinear'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 (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was 9.533 + -4.351 + -39.829 + -38.5 = $-73.1 Mil.
Cash Flow from Operations was 42.159 + 30.578 + -12.792 + -16.573 = $43.4 Mil.
Revenue was 248.442 + 183.938 + 135.53 + 125.353 = $693.3 Mil.
Gross Profit was 140.307 + 102.873 + 73.944 + 68.539 = $385.7 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(1180.025 + 1198.478 + 1161.48 + 1103.787 + 1080.257) / 5 = $1144.8054 Mil.
Total Assets at the begining of this year (Dec22) was $1,180.0 Mil.
Long-Term Debt & Capital Lease Obligation was $148.6 Mil.
Total Current Assets was $488.0 Mil.
Total Current Liabilities was $222.1 Mil.
Net Income was 33.586 + 31.966 + 28.408 + 31.08 = $125.0 Mil.

Revenue was 263.927 + 280.009 + 285.73 + 290.586 = $1,120.3 Mil.
Gross Profit was 154.59 + 164.351 + 167.488 + 163.34 = $649.8 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(1050.384 + 1099.127 + 1180.693 + 1182.698 + 1180.025) / 5 = $1138.5854 Mil.
Total Assets at the begining of last year (Dec21) was $1,050.4 Mil.
Long-Term Debt & Capital Lease Obligation was $145.1 Mil.
Total Current Assets was $563.1 Mil.
Total Current Liabilities was $341.1 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.

MaxLinear's current Net Income (TTM) was -73.1. ==> Negative ==> Score 0.

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.

MaxLinear's current Cash Flow from Operations (TTM) was 43.4. ==> 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 (Dec22)
=-73.147/1180.025
=-0.06198767

ROA (Last Year)=Net Income/Total Assets (Dec21)
=125.04/1050.384
=0.11904218

MaxLinear's return on assets of this year was -0.06198767. MaxLinear's return on assets of last year was 0.11904218. ==> 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.

MaxLinear's current Net Income (TTM) was -73.1. MaxLinear's current Cash Flow from Operations (TTM) was 43.4. ==> 43.4 > -73.1 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=148.618/1144.8054
=0.12981944

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=145.11/1138.5854
=0.12744762

MaxLinear's gearing of this year was 0.12981944. MaxLinear's gearing of last year was 0.12744762. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=488.025/222.129
=2.19703416

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=563.124/341.086
=1.65097365

MaxLinear's current ratio of this year was 2.19703416. MaxLinear's current ratio of last year was 1.65097365. ==> 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.

MaxLinear's number of shares in issue this year was 81.691. MaxLinear's number of shares in issue last year was 82.415. ==> 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
=385.663/693.263
=0.55630114

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=649.769/1120.252
=0.58002039

MaxLinear's gross margin of this year was 0.55630114. MaxLinear's gross margin of last year was 0.58002039. ==> 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 (Dec22)
=693.263/1180.025
=0.58749857

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=1120.252/1050.384
=1.06651663

MaxLinear's asset turnover of this year was 0.58749857. MaxLinear's asset turnover of last year was 1.06651663. ==> 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
=0+1+0+1+0+1+1+0+0
=4

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

MaxLinear has an F-score of 4 indicating the company's financial situation is typical for a stable company.

MaxLinear  (NAS:MXL) 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.


MaxLinear Piotroski F-Score Related Terms

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MaxLinear (MaxLinear) Business Description

Traded in Other Exchanges
Address
5966 La Place Court, Suite 100, Carlsbad, CA, USA, 92008
MaxLinear Inc is a provider of radio frequency and mixed-signal integrated circuits for cable and satellite broadband communications, the connected home, and for data center, metro, and long-haul fiber networks. The company's radio frequency receiver products capture and process digital and analog broadband signals to be decoded for various applications. MaxLinear's product options include both radio frequency receivers and radio frequency receiver systems-on-chips. The company's products enable the distribution and display of broadband video and data content in a wide range of electronic devices. Customers for MaxLinear include original equipment manufacturers, module makers, and original design manufacturers.
Executives
James Lougheed officer: VP, Component Products 48720 KATO ROAD, FREMONT CA 94538
Michael Bollesen officer: Vice President of Sales C/O MAXLINEAR, INC., 5966 LA PLACE COURT, SUITE 100, CARLSBAD CA 92008
Michelle Marie Sayer officer: General Counsel C/O MAXLINEAR, INC., 5966 LA PLACE COURT, SUITE 100, CARLSBAD CA 92008
William Torgerson officer: Vice President, Global Sales 2051 PALOMAR AIRPORT ROAD, SUITE 100, CARLSBAD CA 92011
Daniel A Artusi director 5966 LA PLACE COURT, SUITE 100, CARLSBAD CA 92008
William Kelly Jones officer: VP of Worldwide Operations C/O MAXLINEAR, INC., 5966 LAPLACE COURT, SUITE 100, CARLSBAD CA 92008
Kishore Seendripu director, 10 percent owner, officer: President and CEO 5966 LA PLACE COURT, SUITE 100, CARLSBAD CA 92011
Steven G Litchfield officer: See remarks C/O MAXLINEAR, INC., 5966 LA PLACE COURT, SUITE 100, SAN DIEGO CA 92008
Brendan Walsh officer: VP, Business Development 2051 PALOMAR AIRPORT RD, SUITE 100, CARLSBAD CA 92011
Curtis Ling director, officer: Chief Technical Officer 2051 PALOMAR AIRPORT RD, SUITE 100, CARLSBAD CA 92011
Kwong Connie H. officer: Corporate Controller & PAO C/O MAXLINEAR, INC., 5966 LA PLACE COURT, SUITE 100, CARLSBAD CA 92008
Donald E Schrock director C/O INTEGRATED DEVICE TECHNOLOGY, INC., 6024 SILVER CREEK VALLEY ROAD, SAN JOSE CA 95138
Tsu-jae King Liu director 2200 MISSION COLLEGE BLVD, SANTA CLARA CA 95054
Madhukar Reddy officer: VP, ICs and RF Systems Enginee 2051 PALOMAR AIRPORT RD, SUITE 100, CARLSBAD CA 92011
Greg Dougherty director 40919 ENCYCLOPEDIA CIRCLE, FREMONT CA 94538

MaxLinear (MaxLinear) Headlines

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