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Skyworks Solutions (Skyworks Solutions) Piotroski F-Score

: 5 (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

Skyworks Solutions has an F-score of 5 indicating the company's financial situation is typical for a stable company.

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

SWKS' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 7   Max: 9
Current: 5

During the past 13 years, the highest Piotroski F-Score of Skyworks Solutions was 9. The lowest was 4. And the median was 7.


Skyworks Solutions Piotroski F-Score Historical Data

The historical data trend for Skyworks Solutions'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.

Skyworks Solutions Annual Data
Trend Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 5.00 7.00 5.00 5.00

Skyworks Solutions 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 5.00 5.00 6.00 5.00 5.00

Competitive Comparison

For the Semiconductors subindustry, Skyworks Solutions'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.


Skyworks Solutions Piotroski F-Score Distribution

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

* The bar in red indicates where Skyworks Solutions'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 232.8 + 195.8 + 244.8 + 231.3 = $905 Mil.
Cash Flow from Operations was 411.7 + 305.8 + 365.5 + 774.9 = $1,858 Mil.
Revenue was 1153.1 + 1071.2 + 1218.8 + 1201.5 = $4,645 Mil.
Gross Profit was 527.4 + 464.1 + 478.1 + 506.6 = $1,976 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(8947.4 + 8841.7 + 8464.1 + 8426.7 + 8229.1) / 5 = $8581.8 Mil.
Total Assets at the begining of this year (Dec22) was $8,947 Mil.
Long-Term Debt & Capital Lease Obligation was $1,185 Mil.
Total Current Assets was $3,087 Mil.
Total Current Liabilities was $615 Mil.
Net Income was 305.8 + 267.3 + 302.2 + 309.4 = $1,185 Mil.

Revenue was 1335.6 + 1232.6 + 1406.9 + 1329.3 = $5,304 Mil.
Gross Profit was 637.6 + 583.3 + 668.6 + 637.7 = $2,527 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(8618.5 + 8511.6 + 8694.6 + 8873.8 + 8947.4) / 5 = $8729.18 Mil.
Total Assets at the begining of last year (Dec21) was $8,619 Mil.
Long-Term Debt & Capital Lease Obligation was $1,893 Mil.
Total Current Assets was $3,414 Mil.
Total Current Liabilities was $1,226 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.

Skyworks Solutions's current Net Income (TTM) was 905. ==> 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.

Skyworks Solutions's current Cash Flow from Operations (TTM) was 1,858. ==> 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)
=904.7/8947.4
=0.10111317

ROA (Last Year)=Net Income/Total Assets (Dec21)
=1184.7/8618.5
=0.13746011

Skyworks Solutions's return on assets of this year was 0.10111317. Skyworks Solutions's return on assets of last year was 0.13746011. ==> 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.

Skyworks Solutions's current Net Income (TTM) was 905. Skyworks Solutions's current Cash Flow from Operations (TTM) was 1,858. ==> 1,858 > 905 ==> 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
=1184.6/8581.8
=0.13803631

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=1892.8/8729.18
=0.21683595

Skyworks Solutions's gearing of this year was 0.13803631. Skyworks Solutions's gearing of last year was 0.21683595. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=3086.6/615.1
=5.01804585

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=3414.3/1225.5
=2.78604651

Skyworks Solutions's current ratio of this year was 5.01804585. Skyworks Solutions's current ratio of last year was 2.78604651. ==> 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.

Skyworks Solutions's number of shares in issue this year was 161. Skyworks Solutions's number of shares in issue last year was 160.2. ==> 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
=1976.2/4644.6
=0.42548336

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2527.2/5304.4
=0.47643466

Skyworks Solutions's gross margin of this year was 0.42548336. Skyworks Solutions's gross margin of last year was 0.47643466. ==> 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)
=4644.6/8947.4
=0.51910052

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=5304.4/8618.5
=0.61546673

Skyworks Solutions's asset turnover of this year was 0.51910052. Skyworks Solutions's asset turnover of last year was 0.61546673. ==> 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
=1+1+0+1+1+1+0+0+0
=5

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

Skyworks Solutions has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Skyworks Solutions  (NAS:SWKS) 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.


Skyworks Solutions Piotroski F-Score Related Terms

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Skyworks Solutions (Skyworks Solutions) Business Description

Address
5260 California Avenue, Irvine, CA, USA, 92617
Skyworks Solutions produces semiconductors for wireless handsets and other devices that are used to enable wireless connectivity. Its main products include power amplifiers, filters, switches, and integrated front-end modules that support wireless transmissions. Skyworks' customers are mostly large smartphone manufacturers, but the firm also has a growing presence in nonhandset applications such as wireless routers, medical devices, and automobiles.
Executives
Karilee A Durham officer: SVP, Human Resources 5260 CALIFORNIA AVENUE, IRVINE CA 92617
Reza Kasnavi officer: SVP, Tech. & Manufacturing 5260 CALIFORNIA AVENUE, IRVINE CA 92617
Robert John Terry officer: VP, General Counsel &Secretary 5260 CALIFORNIA AVENUE, IRVINE CA 92617
Kris Sennesael officer: SVP & Chief Financial Officer 5260 CALIFORNIA AVENUE, IRVINE CA 92617
Kevin L Beebe director ONE ALLIED DRIVE, LITTLE ROCK AR 72202
Liam Griffin officer: VP, Sales and Marketing 5260 CALIFORNIA AVENUE, IRVINE CA 92617
Philip Matthew Carter officer: VP, Corp. Controller 5260 CALIFORNIA AVENUE, IRVINE CA 92617
Maryann Turcke director C/O NORTHERN STAR INVESTMENT CORP. II, 405 LEXINGTON AVENUE, NEW YORK NY 10174
Suzanne E. Mcbride director C/O IRIDIUM COMMUNICATIONS INC., 1750 TYSONS BOULEVARD, SUITE 1400, MCLEAN VA 22102
Eric Guerin director 1950 HASSELL ROAD, HOFFMAN ESTATES IL 60169
Carlos S Bori officer: VP, Sales & Marketing 5260 CALIFORNIA AVENUE, IRVINE CA 92617
Timothy R Furey director 5260 CALIFORNIA AVENUE, IRVINE CA 92617
P Mcglade David director 5260 CALIFORNIA AVENUE, IRVINE CA 92617
David J Aldrich director, officer: President and CEO 20 SYLVAN ROAD, WOBURN MA 01801
Christine King director AMIS HOLDINGS, INC., 2300 BUCKSKIN RD, POCATELLO ID 83201