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IDEX 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

IDEX 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 IDEX's Piotroski F-Score or its related term are showing as below:

NYSE:IEX' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 9
Current: 5

4
9

During the past 13 years, the highest Piotroski F-Score of IDEX was 9. The lowest was 4. And the median was 6.


IDEX Piotroski F-Score Historical Data

The historical data trend for IDEX'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.

IDEX Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 7.00 9.00 7.00 4.00

IDEX 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 5.00 5.00 4.00 6.00 5.00

Competitive Comparison

For the Specialty Industrial Machinery subindustry, IDEX'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.

   

IDEX Piotroski F-Score Distribution

For the Industrial Products industry and Industrials sector, IDEX's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where IDEX'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 103.848 + 101.068 + 112.708 + 102.195 = $420 Mil.
Cash Flow from Operations was 153.686 + 161.374 + 109.324 + 136.272 = $561 Mil.
Revenue was 581.113 + 614.822 + 652.036 + 685.947 = $2,534 Mil.
Gross Profit was 251.5 + 269.168 + 292.623 + 306.072 = $1,119 Mil.
Average Total Assets from the begining of this year (Jun20)
to the end of this year (Jun21) was
(4073.592 + 4225.595 + 4414.398 + 4460.731 + 4782.997) / 5 = $4391.4626 Mil.
Total Assets at the begining of this year (Jun20) was $4,074 Mil.
Long-Term Debt & Capital Lease Obligation was $1,282 Mil.
Total Current Assets was $1,494 Mil.
Total Current Liabilities was $450 Mil.
Net Income was 105.194 + 96.85 + 101.998 + 70.864 = $375 Mil.

Revenue was 624.246 + 605.997 + 594.462 + 561.249 = $2,386 Mil.
Gross Profit was 281.978 + 266.885 + 271.956 + 234.8 = $1,056 Mil.
Average Total Assets from the begining of last year (Jun19)
to the end of last year (Jun20) was
(3640.215 + 3713.895 + 3813.912 + 3943.677 + 4073.592) / 5 = $3837.0582 Mil.
Total Assets at the begining of last year (Jun19) was $3,640 Mil.
Long-Term Debt & Capital Lease Obligation was $1,139 Mil.
Total Current Assets was $1,397 Mil.
Total Current Liabilities was $401 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.

IDEX's current Net Income (TTM) was 420. ==> 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.

IDEX's current Cash Flow from Operations (TTM) was 561. ==> 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)
=419.819/4073.592
=0.10305868

ROA (Last Year)=Net Income/Total Assets (Jun19)
=374.906/3640.215
=0.10299007

IDEX's return on assets of this year was 0.10305868. IDEX's return on assets of last year was 0.10299007. ==> 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.

IDEX's current Net Income (TTM) was 420. IDEX's current Cash Flow from Operations (TTM) was 561. ==> 561 > 420 ==> 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
=1281.778/4391.4626
=0.29187952

Gearing (Last Year: Jun20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun19 to Jun20
=1138.948/3837.0582
=0.29682844

IDEX's gearing of this year was 0.29187952. IDEX's gearing of last year was 0.29682844. ==> 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
=1493.689/450.359
=3.31666293

Current Ratio (Last Year: Jun20)=Total Current Assets/Total Current Liabilities
=1397.25/401.307
=3.48174839

IDEX's current ratio of this year was 3.31666293. IDEX's current ratio of last year was 3.48174839. ==> 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.

IDEX's number of shares in issue this year was 76.429. IDEX's number of shares in issue last year was 75.937. ==> 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
=1119.363/2533.918
=0.44175186

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1055.619/2385.954
=0.44243057

IDEX's gross margin of this year was 0.44175186. IDEX's gross margin of last year was 0.44243057. ==> 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)
=2533.918/4073.592
=0.62203529

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun19)
=2385.954/3640.215
=0.65544315

IDEX's asset turnover of this year was 0.62203529. IDEX's asset turnover of last year was 0.65544315. ==> 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+1+1+1+0+0+0+0
=5

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

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

IDEX  (NYSE:IEX) 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.


IDEX Piotroski F-Score Related Terms

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


IDEX Business Description

IDEX logo
Industry
Industrials » Industrial Products NAICS : 333249 SIC : 3561
Traded in Other Exchanges
Address
3100 Sanders Road, Suite 301, Northbrook, Chicago, IL, USA, 60062
Idex manufactures pumps, flow meters, valves, and fluidic systems for customers in a variety of end markets, including industrial, fire & safety, life science, and water. The firm's business is organized into three segments: fluid & metering technologies, health & science technologies, and fire & safety and diversified products. Based in Lake Forest, Illinois, Idex has manufacturing operations in over 20 countries and has over 7,000 employees. The company generated $2.4 billion in revenue and $537 million in adjusted operating income in 2020.
Executives
Yates Michael J officer: VP-Chief Accounting Officer 1925 WEST FIELD COURT SUITE 200 LAKE FOREST IL 60045
Silvernail Andrew K director, officer: Chairman and CEO 1925 WEST FIELD COURT SUITE 200 LAKE FOREST IL 60045
Bucklew Jeffrey D officer: SVP-Chief HR Officer 1925 WEST FIELD COURT SUITE 200 LAKE FOREST IL 60045
Ashleman Eric D officer: President and COO 1925 WEST FIELD COURT SUITE 200 LAKE FOREST IL 60045
Cade Denise R officer: SVP-General Counsel & Corp Sec 1011 WARRENVILLE ROAD SUITE 600 LISLE IL 60532
Salliotte Daniel J officer: SVP - MERGERS & ACQUISITIONS 1925 WEST FIELD COURT SUITE 200 LAKE FOREST IL 60045
Mrozek Ernest J director SERVICE MASTER 2300 WARRENVILLE ROAD DOWNERS GROVE IL 60515
Cook William M director 1925 WEST FIELD COURT SUITE 200 LAKE FOREST IL 60045
Satterthwaite Livingston director 1925 WEST FIELD COURT SUITE 200 LAKE FOREST IL 60045
Christenson Carl R director C/O ALTRA INDUSTRIAL MOTION INC. 300 GRANITE STREET BRAINTREE MA 02184
Helmkamp Katrina L director 1925 WEST FIELD COURT SUITE 200 LAKE FOREST IL 60045
Parry David C director 155 HARLEM AVE. GLENVIEW IL 60025
Beck Mark A director 2200 PENNSYLVANIA AVENUE, NW SUITE 800W WASHINGTON DC 20037
Warner Cynthia J director 1925 WEST FIELD COURT SUITE 200 LAKE FOREST IL 60045
Buthman Mark A director P O BOX 619100 DALLAS TX 752619100

IDEX Headlines

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