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Luminar Technologies (Luminar Technologies) Piotroski F-Score : 3 (As of Apr. 26, 2024)


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What is Luminar Technologies Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 3 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Luminar Technologies has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

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

LAZR' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 3   Max: 3
Current: 3

During the past 5 years, the highest Piotroski F-Score of Luminar Technologies was 3. The lowest was 2. And the median was 3.


Luminar Technologies Piotroski F-Score Historical Data

The historical data trend for Luminar Technologies'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.

Luminar Technologies Piotroski F-Score Chart

Luminar Technologies Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
N/A N/A 3.00 2.00 3.00

Luminar Technologies Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 2.00 3.00 2.00 3.00 3.00

Competitive Comparison of Luminar Technologies's Piotroski F-Score

For the Auto Parts subindustry, Luminar Technologies'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.


Luminar Technologies's Piotroski F-Score Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Luminar Technologies's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Luminar Technologies'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 -146.774 + -141.756 + -134.338 + -148.401 = $-571.27 Mil.
Cash Flow from Operations was -64.674 + -73.309 + -56.543 + -52.778 = $-247.30 Mil.
Revenue was 14.509 + 16.197 + 16.959 + 22.114 = $69.78 Mil.
Gross Profit was -14.624 + -18.335 + -18.16 + -21.571 = $-72.69 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(687.327 + 658.351 + 599.774 + 552.878 + 512.367) / 5 = $602.1394 Mil.
Total Assets at the begining of this year (Dec22) was $687.33 Mil.
Long-Term Debt & Capital Lease Obligation was $650.51 Mil.
Total Current Assets was $350.62 Mil.
Total Current Liabilities was $83.87 Mil.
Net Income was -88.333 + -95.239 + -117.55 + -144.817 = $-445.94 Mil.

Revenue was 6.855 + 9.932 + 12.785 + 11.126 = $40.70 Mil.
Gross Profit was -9.799 + -18.16 + -15.726 + -16.6 = $-60.29 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(883.536 + 807.8 + 775.597 + 742.508 + 687.327) / 5 = $779.3536 Mil.
Total Assets at the begining of last year (Dec21) was $883.54 Mil.
Long-Term Debt & Capital Lease Obligation was $629.18 Mil.
Total Current Assets was $554.59 Mil.
Total Current Liabilities was $77.54 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.

Luminar Technologies's current Net Income (TTM) was -571.27. ==> 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.

Luminar Technologies's current Cash Flow from Operations (TTM) was -247.30. ==> Negative ==> Score 0.

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)
=-571.269/687.327
=-0.83114587

ROA (Last Year)=Net Income/Total Assets (Dec21)
=-445.939/883.536
=-0.5047208

Luminar Technologies's return on assets of this year was -0.83114587. Luminar Technologies's return on assets of last year was -0.5047208. ==> 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.

Luminar Technologies's current Net Income (TTM) was -571.27. Luminar Technologies's current Cash Flow from Operations (TTM) was -247.30. ==> -247.30 > -571.27 ==> 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
=650.507/602.1394
=1.08032625

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=629.181/779.3536
=0.80731134

Luminar Technologies's gearing of this year was 1.08032625. Luminar Technologies's gearing of last year was 0.80731134. ==> 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
=350.621/83.872
=4.1804297

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=554.586/77.541
=7.15216466

Luminar Technologies's current ratio of this year was 4.1804297. Luminar Technologies's current ratio of last year was 7.15216466. ==> 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.

Luminar Technologies's number of shares in issue this year was 409.473. Luminar Technologies's number of shares in issue last year was 364.45. ==> 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
=-72.69/69.779
=-1.04171742

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=-60.285/40.698
=-1.48127672

Luminar Technologies's gross margin of this year was -1.04171742. Luminar Technologies's gross margin of last year was -1.48127672. ==> 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 (Dec22)
=69.779/687.327
=0.10152227

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=40.698/883.536
=0.04606264

Luminar Technologies's asset turnover of this year was 0.10152227. Luminar Technologies's asset turnover of last year was 0.04606264. ==> 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
=0+0+0+1+0+0+0+1+1
=3

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

Luminar Technologies has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Luminar Technologies  (NAS:LAZR) 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.


Luminar Technologies Piotroski F-Score Related Terms

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Luminar Technologies (Luminar Technologies) Business Description

Traded in Other Exchanges
Address
2603 Discovery Drive, Suite 100, Orlando, FL, USA, 32826
Luminar Technologies Inc is an autonomous vehicle sensor and software company with the vision to make autonomy safe and ubiquitous by delivering lidar and associated software that meets the industry's stringent performance, safety, and economic requirements. It operates its business through the following segment: (1) Autonomy Solutions and (2) Components. The majority of revenue is earned from the Autonomy Solutions segment.
Executives
Thomas Fennimore officer: Chief Financial Officer C/O LUMINAR TECHNOLOGIES, INC., 2603 DISCOVERY DRIVE, SUITE 100, ORLANDO FL 32826
Alan Prescott officer: Chief Legal Officer C/O LUMINAR TECHNOLOGIES, INC., 2603 DISCOVERY DRIVE, SUITE 100, ORLANDO FL 32826
Austin Russell director, 10 percent owner, officer: Chairperson, President & CEO C/O LUMINAR TECHNOLOGIES, INC., 2603 DISCOVERY DRIVE, SUITE 100, ORLANDO FL 32826
Jun Hong Heng director C/O CRESCENT COVE ACQUISITION CORP., 530 BUSH STREET, SUITE 703, SAN FRANCISCO CA 94108
Mary Lou Jepsen director 21557 TELEGRAPH ROAD, SOUTHFIELD MI 48033
Aeg Holdings, Llc director, 10 percent owner, officer: Chief Executive Officer 6260 LOOKOUT RD., BOULDER CO 80301
Daniel David Tempesta director ONE WAYSIDE ROAD, BURLINGTON MA 01803
Katherine A Martin director C/O NUANCE COMMUNICATIONS, INC., ONE WAYSIDE ROAD, BURLINGTON MA 01803
Matthew Simoncini director 21557 TELEGRAPH ROAD, SOUTHFIELD MI 48034
Shaun Maguire director C/O LUMINAR TECHNOLOGIES, INC., 2603 DISCOVERY DRIVE, SUITE 100, ORLANDO FL 32826
M. Scott Faris officer: Chief Business Officer C/O LUMINAR TECHNOLOGIES, INC., 2603 DISCOVERY DRIVE, SUITE 100, ORLANDO FL 32826
Benjamin John Kortlang director 2750 SAND HILL ROAD, MENLO PARK CA 94025
Jason Eichenholz officer: Chief Technology Officer C/O LUMINAR TECHNOLOGIES, INC., 2603 DISCOVERY DRIVE, SUITE 100, ORLANDO FL 32826
Scott A Mcgregor director 5300 CALIFORNIA AVENUE, IRVINE CA 92617
Andrew Mcbride officer: CFO & Secretary 9800 WILSHIRE BLVD., BEVERLY HILLS CA 90212

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