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Lakeland Industries Piotroski F-Score

: 8 (As of Today)
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Good Sign:

Piotroski F-Score is 8, 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

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

NAS:LAKE' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 9
Current: 8
1
9

During the past 13 years, the highest Piotroski F-Score of Lakeland Industries was 9. The lowest was 1. And the median was 5.

Lakeland Industries Piotroski F-Score Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange currency.

* Premium members only.

Lakeland Industries Annual Data
Jan12 Jan13 Jan14 Jan15 Jan16 Jan17 Jan18 Jan19 Jan20 Jan21
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 6.00 6.00 7.00 0.00

Lakeland Industries Quarterly Data
Apr16 Jul16 Oct16 Jan17 Apr17 Jul17 Oct17 Jan18 Apr18 Jul18 Oct18 Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21
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 7.00 9.00 8.00 0.00
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.

Lakeland Industries Piotroski F-Score Distribution

* The bar in red indicates where Lakeland Industries'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 indicated in the company's associated stock exchange currency.

This Year (Jan21) TTM:Last Year (Jan20) TTM:
Net Income was 8.634 + 9.339 + 9.264 + 7.869 = $35.1 Mil.
Cash Flow from Operations was 10.253 + 12.078 + 5.695 + 0 = $28.0 Mil.
Revenue was 45.582 + 35.021 + 41.451 + 36.946 = $159.0 Mil.
Gross Profit was 22.144 + 17.34 + 21.688 + 18.078 = $79.3 Mil.
Average Total Assets from the begining of this year (Jan20)
to the end of this year (Jan21) was
(99.405 + 107.724 + 121.622 + 132.252 + 139.925) / 5 = $120.1856 Mil.
Total Assets at the begining of this year (Jan20) was $99.4 Mil.
Long-Term Debt & Capital Lease Obligation was $1.6 Mil.
Total Current Assets was $123.6 Mil.
Total Current Liabilities was $15.4 Mil.		 Net Income was -0.465 + 1.395 + 1.146 + 1.205 = $3.3 Mil.

Revenue was 24.684 + 27.472 + 27.464 + 28.189 = $107.8 Mil.
Gross Profit was 7.554 + 10.419 + 9.298 + 10.626 = $37.9 Mil.
Average Total Assets from the begining of last year (Jan19)
to the end of last year (Jan20) was
(94.723 + 101.565 + 101.385 + 99.104 + 99.405) / 5 = $99.2364 Mil.
Total Assets at the begining of last year (Jan19) was $94.7 Mil.
Long-Term Debt & Capital Lease Obligation was $1.4 Mil.
Total Current Assets was $79.8 Mil.
Total Current Liabilities was $12.9 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.

Lakeland Industries's current Net Income (TTM) was 35.1. ==> 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.

Lakeland Industries's current Cash Flow from Operations (TTM) was 28.0. ==> 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 (Jan20)
=35.106/99.405
=0.35316131

ROA (Last Year)=Net Income/Total Assets (Jan19)
=3.281/94.723
=0.03463784

Lakeland Industries's return on assets of this year was 0.35316131. Lakeland Industries's return on assets of last year was 0.03463784. ==> 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.

Lakeland Industries's current Net Income (TTM) was 35.1. Lakeland Industries's current Cash Flow from Operations (TTM) was 28.0. ==> 28.0 <= 35.1 ==> 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: Jan21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jan20 to Jan21
=1.613/120.1856
=0.01342091

Gearing (Last Year: Jan20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jan19 to Jan20
=1.414/99.2364
=0.0142488

Lakeland Industries's gearing of this year was 0.01342091. Lakeland Industries's gearing of last year was 0.0142488. ==> 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: Jan21)=Total Current Assets/Total Current Liabilities
=123.608/15.394
=8.02962193

Current Ratio (Last Year: Jan20)=Total Current Assets/Total Current Liabilities
=79.807/12.939
=6.16794188

Lakeland Industries's current ratio of this year was 8.02962193. Lakeland Industries's current ratio of last year was 6.16794188. ==> 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.

Lakeland Industries's number of shares in issue this year was 8.233. Lakeland Industries's number of shares in issue last year was 8.016. ==> 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
=79.25/159
=0.49842767

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=37.897/107.809
=0.35151982

Lakeland Industries's gross margin of this year was 0.49842767. Lakeland Industries's gross margin of last year was 0.35151982. ==> 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 (Jan20)
=159/99.405
=1.59951713

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jan19)
=107.809/94.723
=1.13815019

Lakeland Industries's asset turnover of this year was 1.59951713. Lakeland Industries's asset turnover of last year was 1.13815019. ==> 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+1+0+1+1
=7

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

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

Lakeland Industries  (NAS:LAKE) 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.

Lakeland Industries Piotroski F-Score Related Terms

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