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CommVault Systems Piotroski F-Score

: 7 (As of Today)
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Good Sign:

Piotroski F-Score of 7 is 7, indicating 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

CommVault Systems has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

NAS:CVLT' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Max: 7
Current: 7

3
7

During the past 13 years, the highest Piotroski F-Score of CommVault Systems was 7. The lowest was 3. And the median was 6.


CommVault Systems Piotroski F-Score Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

CommVault Systems Annual Data

Mar10 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 5.00 7.00 3.00 7.00

CommVault Systems Quarterly Data

Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19
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 3.00 3.00 3.00 7.00 7.00

Competitive Comparison
* 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.


CommVault Systems Piotroski F-Score Distribution

* The bar in red indicates where CommVault Systems's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

This Year (Mar19) TTM:Last Year (Mar18) TTM:
Net Income was -8.567 + 0.891 + 13.4 + -2.163 = USD 3.6 Mil.
Cash Flow from Operations was 24.77 + 17.76 + 31.064 + 36.586 = USD 110.2 Mil.
Revenue was 176.177 + 169.078 + 184.275 + 181.427 = USD 711.0 Mil.
Gross Profit was 148.571 + 142.205 + 155.422 + 147.753 = USD 594.0 Mil.
Average Total Assets from the begining of this year (Mar18)
to the end of this year (Mar19) was
(818.642 + 804.46 + 810.035 + 814.687 + 822.453) / 5 = USD 814.0554 Mil.
Total Assets at the begining of this year (Mar18) was USD 818.6 Mil.
Long-Term Debt & Capital Lease Obligation was USD 0.0 Mil.
Total Current Assets was USD 655.0 Mil.
Total Current Liabilities was USD 326.3 Mil.
Net Income was -0.284 + -1.01 + -58.945 + -1.661 = USD -61.9 Mil.

Revenue was 165.972 + 168.14 + 180.366 + 184.915 = USD 699.4 Mil.
Gross Profit was 144.311 + 144.873 + 155.409 + 156.648 = USD 601.2 Mil.
Average Net Income from the begining of last year (Mar17)
to the end of last year (Mar18) was
(829.878 + 860.811 + 877.945 + 789.274 + 818.642) / 5 = USD 835.31 Mil.
Total Assets at the begining of last year (Mar17) was USD 829.9 Mil.
Long-Term Debt & Capital Lease Obligation was USD 0.0 Mil.
Total Current Assets was USD 646.8 Mil.
Total Current Liabilities was USD 324.2 Mil.

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.

CommVault Systems's current Net Income (TTM) was 3.6. ==> 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.

CommVault Systems's current Cash Flow from Operations (TTM) was 110.2. ==> 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(Mar18)
=3.561/818.642
=0.00434989

ROA (Last Year)=Net Income/Total Assets(Mar17)
=-61.9/829.878
=-0.07458928

CommVault Systems's return on assets of this year was 0.00434989. CommVault Systems's return on assets of last year was -0.07458928. ==> 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.

CommVault Systems's current Net Income (TTM) was 3.6. CommVault Systems's current Cash Flow from Operations (TTM) was 110.2. ==> 110.2 > 3.6 ==> 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.

CommVault Systems's gearing of this year was 0. CommVault Systems'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: Mar19)=Total Current Assets/Total Current Liabilities
=655.002/326.346
=2.00707838

Current Ratio (Last Year: Mar18)=Total Current Assets/Total Current Liabilities
=646.788/324.173
=1.99519392

CommVault Systems's current ratio of this year was 2.00707838. CommVault Systems's current ratio of last year was 1.99519392. ==> 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.

CommVault Systems's number of shares in issue this year was 47.4. CommVault Systems's number of shares in issue last year was 44.9. ==> 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
=593.951/710.957
=0.83542465

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=601.241/699.393
=0.85966116

CommVault Systems's gross margin of this year was 0.83542465. CommVault Systems's gross margin of last year was 0.85966116. ==> 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 (Mar18)
=710.957/818.642
=0.86845898

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar17)
=699.393/829.878
=0.84276605

CommVault Systems's asset turnover of this year was 0.86845898. CommVault Systems's asset turnover of last year was 0.84276605. ==> 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+0+0+1
=7

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

CommVault Systems has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

CommVault Systems  (NAS:CVLT) 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.


CommVault Systems Piotroski F-Score Explanation


CommVault Systems Piotroski F-Score Headlines

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