Switch to:

Nuance Communications Piotroski F-Score

: 6 (As of Today)
View and export this data going back to 1995. Start your Free Trial

The zones of discrimination were as such:

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

Nuance Communications has an F-score of 6 indicating the company's financial situation is typical for a stable company.

NAS:NUAN' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 9
Current: 6

3
9

During the past 13 years, the highest Piotroski F-Score of Nuance Communications was 9. The lowest was 3. And the median was 5.


Nuance Communications 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.

Nuance Communications Annual Data
Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 6.00 3.00 6.00 7.00

Nuance Communications Quarterly Data
Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20
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 9.00 7.00 8.00 8.00 6.00

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.


Nuance Communications Piotroski F-Score Distribution

* The bar in red indicates where Nuance Communications'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 (Jun20) TTM:Last Year (Jun19) TTM:
Net Income was 108.129 + 48.685 + -13.51 + 16.662 = USD160 Mil.
Cash Flow from Operations was 104.163 + 53.553 + 87.878 + 32.282 = USD278 Mil.
Revenue was 689.396 + 418.233 + 369.337 + 338.398 = USD1,815 Mil.
Gross Profit was 424.626 + 233.844 + 212.244 + 194.216 = USD1,065 Mil.
Average Total Assets from the begining of this year (Jun19)
to the end of this year (Jun20) was
(5188.917 + 5365.793 + 3785.737 + 3756.75 + 3546.086) / 5 = USD4328.6566 Mil.
Total Assets at the begining of this year (Jun19) was USD5,189 Mil.
Long-Term Debt & Capital Lease Obligation was USD1,630 Mil.
Total Current Assets was USD671 Mil.
Total Current Liabilities was USD523 Mil.
Net Income was -35.066 + 19.09 + 77.332 + 9.259 = USD71 Mil.

Revenue was 479.432 + 419.675 + 336.584 + 377.437 = USD1,613 Mil.
Gross Profit was 280.634 + 235.555 + 177.325 + 205.667 = USD899 Mil.
Average Total Assets from the begining of last year (Jun18)
to the end of last year (Jun19) was
(5446.091 + 5302.379 + 5450.019 + 5133 + 5188.917) / 5 = USD5304.0812 Mil.
Total Assets at the begining of last year (Jun18) was USD5,446 Mil.
Long-Term Debt & Capital Lease Obligation was USD1,924 Mil.
Total Current Assets was USD1,181 Mil.
Total Current Liabilities was USD668 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.

Nuance Communications's current Net Income (TTM) was 160. ==> 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.

Nuance Communications's current Cash Flow from Operations (TTM) was 278. ==> 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 (Jun19)
=159.966/5188.917
=0.0308284

ROA (Last Year)=Net Income/Total Assets (Jun18)
=70.615/5446.091
=0.01296618

Nuance Communications's return on assets of this year was 0.0308284. Nuance Communications's return on assets of last year was 0.01296618. ==> 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.

Nuance Communications's current Net Income (TTM) was 160. Nuance Communications's current Cash Flow from Operations (TTM) was 278. ==> 278 > 160 ==> 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: Jun20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun19 to Jun20
=1630.158/4328.6566
=0.37659675

Gearing (Last Year: Jun19)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun18 to Jun19
=1923.716/5304.0812
=0.362686

Nuance Communications's gearing of this year was 0.37659675. Nuance Communications's gearing of last year was 0.362686. ==> 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: Jun20)=Total Current Assets/Total Current Liabilities
=670.941/522.844
=1.28325275

Current Ratio (Last Year: Jun19)=Total Current Assets/Total Current Liabilities
=1180.757/667.992
=1.76762147

Nuance Communications's current ratio of this year was 1.28325275. Nuance Communications's current ratio of last year was 1.76762147. ==> 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.

Nuance Communications's number of shares in issue this year was 287.852. Nuance Communications's number of shares in issue last year was 285.942. ==> 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
=1064.93/1815.364
=0.58662064

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=899.181/1613.128
=0.55741454

Nuance Communications's gross margin of this year was 0.58662064. Nuance Communications's gross margin of last year was 0.55741454. ==> 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 (Jun19)
=1815.364/5188.917
=0.34985412

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun18)
=1613.128/5446.091
=0.29619924

Nuance Communications's asset turnover of this year was 0.34985412. Nuance Communications's asset turnover of last year was 0.29619924. ==> 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+0+0+0+1+1
=6

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

Nuance Communications has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Nuance Communications  (NAS:NUAN) 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.


Nuance Communications Piotroski F-Score Related Terms


Nuance Communications Piotroski F-Score Headlines

No Headline

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)