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Cardinal Health Piotroski F-Score

: 7 (As of Today)
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Good Sign:

Piotroski F-Score is 7, 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

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

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

NYSE:CAH' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 8
Current: 7

1
8

During the past 13 years, the highest Piotroski F-Score of Cardinal Health was 8. The lowest was 1. And the median was 5.


Cardinal Health Piotroski F-Score Historical Data

The historical data trend for Cardinal Health'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.

Cardinal Health Annual Data
Trend Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.00 6.00 7.00 6.00 7.00

Cardinal Health Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
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 8.00 7.00 8.00 7.00

Competitive Comparison

For the Medical Distribution subindustry, Cardinal Health'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.

   

Cardinal Health Piotroski F-Score Distribution

For the Medical Distribution industry and Healthcare sector, Cardinal Health's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Cardinal Health'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 (Jun21) TTM:Last Year (Jun20) TTM:
Net Income was -253 + 629 + 119 + 116 = $611 Mil.
Cash Flow from Operations was 270 + 1217 + 277 + 665 = $2,429 Mil.
Revenue was 39065 + 41541 + 39275 + 42586 = $162,467 Mil.
Gross Profit was 1715 + 1776 + 1812 + 1475 = $6,778 Mil.
Average Total Assets from the begining of this year (Jun20)
to the end of this year (Jun21) was
(40766 + 41727 + 44719 + 43874 + 44453) / 5 = $43107.8 Mil.
Total Assets at the begining of this year (Jun20) was $40,766 Mil.
Long-Term Debt & Capital Lease Obligation was $5,365 Mil.
Total Current Assets was $31,048 Mil.
Total Current Liabilities was $27,624 Mil.
Net Income was -4922 + 220 + 350 + 656 = $-3,696 Mil.

Revenue was 37341 + 39735 + 39157 + 36689 = $152,922 Mil.
Gross Profit was 1679 + 1714 + 1885 + 1590 = $6,868 Mil.
Average Total Assets from the begining of last year (Jun19)
to the end of last year (Jun20) was
(40963 + 39179 + 41042 + 41148 + 40766) / 5 = $40619.6 Mil.
Total Assets at the begining of last year (Jun19) was $40,963 Mil.
Long-Term Debt & Capital Lease Obligation was $6,765 Mil.
Total Current Assets was $25,940 Mil.
Total Current Liabilities was $23,615 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.

Cardinal Health's current Net Income (TTM) was 611. ==> 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.

Cardinal Health's current Cash Flow from Operations (TTM) was 2,429. ==> 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 (Jun20)
=611/40766
=0.01498798

ROA (Last Year)=Net Income/Total Assets (Jun19)
=-3696/40963
=-0.09022777

Cardinal Health's return on assets of this year was 0.01498798. Cardinal Health's return on assets of last year was -0.09022777. ==> 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.

Cardinal Health's current Net Income (TTM) was 611. Cardinal Health's current Cash Flow from Operations (TTM) was 2,429. ==> 2,429 > 611 ==> 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: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=5365/43107.8
=0.12445543

Gearing (Last Year: Jun20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun19 to Jun20
=6765/40619.6
=0.16654521

Cardinal Health's gearing of this year was 0.12445543. Cardinal Health's gearing of last year was 0.16654521. ==> 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: Jun21)=Total Current Assets/Total Current Liabilities
=31048/27624
=1.12395019

Current Ratio (Last Year: Jun20)=Total Current Assets/Total Current Liabilities
=25940/23615
=1.09845437

Cardinal Health's current ratio of this year was 1.12395019. Cardinal Health's current ratio of last year was 1.09845437. ==> 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.

Cardinal Health's number of shares in issue this year was 294. Cardinal Health's number of shares in issue last year was 293. ==> 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
=6778/162467
=0.04171924

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=6868/152922
=0.04491179

Cardinal Health's gross margin of this year was 0.04171924. Cardinal Health's gross margin of last year was 0.04491179. ==> 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 (Jun20)
=162467/40766
=3.98535544

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun19)
=152922/40963
=3.73317384

Cardinal Health's asset turnover of this year was 3.98535544. Cardinal Health's asset turnover of last year was 3.73317384. ==> 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+1+1+0+0+1
=7

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

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

Cardinal Health  (NYSE:CAH) 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.


Cardinal Health Piotroski F-Score Related Terms

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


Cardinal Health Business Description

Cardinal Health logo
Industry
Healthcare » Medical Distribution NAICS : 424210 SIC : 5122
Address
7000 Cardinal Place, Dublin, OH, USA, 43017
Cardinal Health is the third- largest global logistics provider engaged in wholesale pharmaceutical and medical products. Similar to its closest two peers, the company has evolved over time and has become entrenched in the sourcing and distribution of brand-name and generic pharmaceuticals and related services to hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. Through acquisitions, Cardinal Health has the ability to manufacture commodity products and certain medical devices.
Executives
Losh J Michael director H.B. FULLER COMPANY P.O. BOX 64683 ST. PAUL MN 55164-0683
Scarborough Dean A director 150 N. ORANGE GROVE BLVD PASADENA CA 91103
Snow Ola M officer: Chief Human Resources Officer 7000 CARDINAL PLACE DUBLIN OH 43017
Edison Sheri H. director 1069 STATE ROUTE 46 EAST BATESVILLE IN 47006
English Patricia M officer: Chief Accounting Officer 7000 CARDINAL PLACE DUBLIN OH 43017
Mason Stephen M officer: CEO, Medical Segment 7000 CARDINAL PLACE DUBLIN OH 43017
Mayer Jessica L officer: Chief Legal/Compliance Officer 7000 CARDINAL PLACE DUBLIN OH 43017
Rice Brian S officer: Chief Information Officer 7000 CARDINAL PLACE DUBLIN OH 43017
Holcomb Michele officer: EVP - Strategy & Corp. Dev. 7000 CARDINAL PLACE DUBLIN OH 43017
Hollar Jason M. officer: Chief Financial Officer 3333 BEVERLY ROAD HOFFMAN ESTATES IL 60179
Kaufmann Michael C director, officer: CEO 7000 CARDINAL PLACE DUBLIN OH 43017
Crawford Victor L. officer: CEO, Pharmaceutical Segment C/O THE PEPSI BOTTLING GROUP, INC. ONE PEPSI WAY SOMERS NY 10589
Laws Stuart G officer: SVP & Chief Accounting Officer CARDINAL HEALTH, INC. 7000 CARDINAL PLACE DUBLIN OH 43017
Evans David C director C/O THE SCOTTS MIRACLE-GRO COMPANY 14111 SCOTTSLAWN ROAD MARYSVILLE OH 43041
Darden Calvin director 11235 STROUP ROAD ROSWELL GA 30075

Cardinal Health Headlines

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