Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Chubb 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 Chubb's Piotroski F-Score or its related term are showing as below:
CB'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 5 Max: 9
Current: 5
During the past 13 years, the highest Piotroski F-Score of Chubb was 9. The lowest was 1. And the median was 5.
Chubb Piotroski F-Score Historical Data
The historical data trend for Chubb'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.
Chubb Annual Data
Trend
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Piotroski F-Score
6.00
5.00
8.00
4.00
8.00
Chubb Quarterly Data
Sep17
Dec17
Mar18
Jun18
Sep18
Dec18
Mar19
Jun19
Sep19
Dec19
Mar20
Jun20
Sep20
Dec20
Mar21
Jun21
Sep21
Dec21
Mar22
Jun22
Piotroski F-Score
8.00
8.00
8.00
7.00
5.00
Competitive Comparison
For the Insurance - Property & Casualty subindustry, Chubb'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.
Chubb Piotroski F-Score Distribution
For the Insurance industry and Financial Services sector, Chubb's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Chubb'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.
Net Income was 1194 + 2418 + 2300 + 2265 = $8,177 Mil.
Revenue was 9464 + 9848 + 9971 + 9664 = $38,947 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(181474 + 187786 + 190774 + 191977 + 197174) / 5 = $189837 Mil. Total Assets at the begining of last year (Jun20) was $181,474 Mil. Long-Term Debt & Capital Lease Obligation was $14,954 Mil. Total Assets was $197,174 Mil. Total Liabilities was $137,112 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.
Chubb's current Net Income (TTM) was 7,163.
==> 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.
Chubb's return on assets of this year was 0.03632832. Chubb's return on assets of last year was 0.0450588.
==> 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.
Chubb's current Net Income (TTM) was 7,163. Chubb's current Cash Flow from Operations (TTM) was 11,082.
==> 11,082 > 7,163 ==> 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.
Chubb's gearing of this year was 0.0722834. Chubb's gearing of last year was 0.07877284.
==> 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
* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.
Chubb's current ratio of this year was 1.35883848. Chubb's current ratio of last year was 1.43805064.
==> 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.
Chubb's number of shares in issue this year was 425.418. Chubb's number of shares in issue last year was 447.952.
==> 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.
* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.
Chubb's net margin of this year was 0.17497191. Chubb's net margin of last year was 0.20995199.
==> Last year's net 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
Chubb's asset turnover of this year was 0.20762372. Chubb's asset turnover of last year was 0.21461477.
==> 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
+
0
+
1
+
0
+
0
=
5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Chubb has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Chubb (NYSE:CB) 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.
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.
Chubb Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Chubb's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
ACE acquired Chubb in the first quarter of 2016 and assumed the Chubb name. The combination makes the new Chubb one of the largest domestic property and casualty insurers, with operations in 54 countries spanning commercial and personal P&C insurance, reinsurance, and life insurance.
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