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VOXX International Piotroski F-Score

: 2 (As of Today)
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Warning Sign:

Piotroski F-Score of 2 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

VOXX International has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

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

VOXX' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 4   Max: 8
Current: 2

During the past 13 years, the highest Piotroski F-Score of VOXX International was 8. The lowest was 1. And the median was 4.


VOXX International Piotroski F-Score Historical Data

The historical data trend for VOXX International'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.

VOXX International Annual Data
Trend Feb13 Feb14 Feb15 Feb16 Feb17 Feb18 Feb19 Feb20 Feb21 Feb22
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.00 6.00 5.00 6.00 2.00

VOXX International Quarterly Data
Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22
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 6.00 7.00 4.00 2.00 2.00

Competitive Comparison

For the Consumer Electronics subindustry, VOXX International'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.

   

VOXX International Piotroski F-Score Distribution

For the Hardware industry and Technology sector, VOXX International's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where VOXX International'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 (May22) TTM:Last Year (May21) TTM:
Net Income was 0.311 + -28.121 + 2.761 + -6.527 = $-31.6 Mil.
Cash Flow from Operations was 11.514 + -4.479 + 7.048 + -22.267 = $-8.2 Mil.
Revenue was 143.109 + 191.871 + 163.88 + 128.732 = $627.6 Mil.
Gross Profit was 37.186 + 51.704 + 43.893 + 33.239 = $166.0 Mil.
Average Total Assets from the begining of this year (May21)
to the end of this year (May22) was
(525.838 + 534.822 + 603.115 + 586.664 + 541.097) / 5 = $558.3072 Mil.
Total Assets at the begining of this year (May21) was $525.8 Mil.
Long-Term Debt & Capital Lease Obligation was $18.0 Mil.
Total Current Assets was $290.1 Mil.
Total Current Liabilities was $168.2 Mil.
Net Income was 7.34 + 18.251 + 9.448 + 2.716 = $37.8 Mil.

Revenue was 128.032 + 201.065 + 162.521 + 137.06 = $628.7 Mil.
Gross Profit was 38.076 + 58.128 + 42.368 + 36.695 = $175.3 Mil.
Average Total Assets from the begining of last year (May20)
to the end of last year (May21) was
(462.072 + 528.505 + 567.989 + 550.818 + 525.838) / 5 = $527.0444 Mil.
Total Assets at the begining of last year (May20) was $462.1 Mil.
Long-Term Debt & Capital Lease Obligation was $9.0 Mil.
Total Current Assets was $297.6 Mil.
Total Current Liabilities was $121.6 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.

VOXX International's current Net Income (TTM) was -31.6. ==> 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.

VOXX International's current Cash Flow from Operations (TTM) was -8.2. ==> 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 (May21)
=-31.576/525.838
=-0.06004891

ROA (Last Year)=Net Income/Total Assets (May20)
=37.755/462.072
=0.08170805

VOXX International's return on assets of this year was -0.06004891. VOXX International's return on assets of last year was 0.08170805. ==> 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.

VOXX International's current Net Income (TTM) was -31.6. VOXX International's current Cash Flow from Operations (TTM) was -8.2. ==> -8.2 > -31.6 ==> 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.

Gearing (This Year: May22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from May21 to May22
=17.964/558.3072
=0.03217583

Gearing (Last Year: May21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from May20 to May21
=9.029/527.0444
=0.01713138

VOXX International's gearing of this year was 0.03217583. VOXX International's gearing of last year was 0.01713138. ==> 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: May22)=Total Current Assets/Total Current Liabilities
=290.133/168.157
=1.72536974

Current Ratio (Last Year: May21)=Total Current Assets/Total Current Liabilities
=297.592/121.615
=2.44700078

VOXX International's current ratio of this year was 1.72536974. VOXX International's current ratio of last year was 2.44700078. ==> 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.

VOXX International's number of shares in issue this year was 24.412. VOXX International's number of shares in issue last year was 24.926. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

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
=166.022/627.592
=0.26453811

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=175.267/628.678
=0.2787866

VOXX International's gross margin of this year was 0.26453811. VOXX International's gross margin of last year was 0.2787866. ==> 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 (May21)
=627.592/525.838
=1.19350827

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (May20)
=628.678/462.072
=1.36056286

VOXX International's asset turnover of this year was 1.19350827. VOXX International's asset turnover of last year was 1.36056286. ==> 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
=0+0+0+1+0+0+1+0+0
=2

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

VOXX International has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

VOXX International  (NAS:VOXX) 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.


VOXX International Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of VOXX International's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


VOXX International Business Description

VOXX International logo
Traded in Other Exchanges
Address
2351 J. Lawson Boulevard, Orlando, FL, USA, 32824
VOXX International Corp is a manufacturer and supplier of consumer electronic products in the automotive, premium audio, and accessory industries. The company markets its products under the Audiovox brand name and other brand names and licensed brands. The company operates in three segments: Automotive Electronics, Consumer Electronics, and Biometrics. The company's product portfolio comprises rear-seat entertainment devices, satellite radio products, automotive security, digital TV tuners, mobile antennas, location-based services, high-end loudspeakers, digital living network alliance compatible devices, wireless and Bluetooth speakers, 360 Fly Action Cameras, reception and digital consumer products.
Executives
Kahli Beat 10 percent owner AVALON GROUP INTERNATIONAL, LLC 3801 AVALON PARK EAST BLVD., STE 400 ORLANDO FL 32828
Kahli Holding Ag 10 percent owner RIESBACHSTRASSE 57 ZURICH V8 8008
Mas Edward David officer: President Voxx Automotive Corp C/O VOXX INTERNATIONAL CORPORATION 180 MARCUS BOULEVARD HAUPPAUGE NY 11788
Adamovich John Jr director 180 MARCUS BLVD C/O VOXX INTERNATIONAL CORPORATION HAUPPAUGE NY 11788
Bernardo Oscar Leonard officer: COO Klipsch Group Inc. C/O VOXX INTERNATIONAL CORPORATION 180 MARCUS BLVD HAUPPAUGE NY 11788
Geise Ian Sebastian officer: President Voxx Accessories C/O VOXX INTERNATIONAL CORPORATION 180 MARCUS BLVD HAUPPAUGE NY 11788
Gibson Denise W. director 140 SCHOOL STREET LIBERTYVILLE IL 60048
Geis Ludwig officer: CEO VOXX Hirschmann Corp STUTTGARTER STRASSE 45 - 51 NECKARTENZLINGEN 2M 72654
Glasgow Stan director C/O VOXX INTERNATIONAL CORPORATION 180 MARCUS BLVD. HAUPPAUGE NY 11788
Kelley David P officer: Pres of Global Com for Klipsch 180 MARCUS BOULEVARD C/O AUDIOVOX CORPORATION HAUPPAUGE X1 11788
Farrar Frederick L officer: EVP/CFO for KGI C/O WINDROSE MEDICAL PROPERTIES TRUST 3502 WOODVIEW TRACE #210 INDIANAPOLIS IN 46268
Klipsch Michael F officer: Pres. Global Operations of KGI 180 MARCUS BOULEVARD C/O AUDIOVOX CORPORATION HAUPPAUGE X1 11788
Jacobs Paul officer: President & CEO of KGI 180 MARCUS BOULEVARD C/O AUDIOVOX CORPORATION HAUPPAUGE X1 11788
Shalam Ari director C/O AUDIOVOX CORP 150 MARCUS BLVD HAUPPAUGE NY 11788
Klipsch Fred S director

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