Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Laboratory of America Holdings 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 Laboratory of America Holdings's Piotroski F-Score or its related term are showing as below:
LH'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 6 Max: 9
Current: 5
During the past 13 years, the highest Piotroski F-Score of Laboratory of America Holdings was 9. The lowest was 2. And the median was 6.
Laboratory of America Holdings Piotroski F-Score Historical Data
The historical data trend for Laboratory of America Holdings'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.
Laboratory of America Holdings Annual Data
Trend
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Piotroski F-Score
7.00
6.00
6.00
8.00
8.00
Laboratory of America Holdings 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
9.00
8.00
6.00
5.00
Competitive Comparison
For the Diagnostics & Research subindustry, Laboratory of America Holdings'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.
Laboratory of America Holdings Piotroski F-Score Distribution
For the Medical Diagnostics & Research industry and Healthcare sector, Laboratory of America Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Laboratory of America Holdings'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.
*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.
Laboratory of America Holdings's current Net Income (TTM) was 1,991.
==> 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.
Laboratory of America Holdings's current Cash Flow from Operations (TTM) was 2,393.
==> 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.
Laboratory of America Holdings's return on assets of this year was 0.09749181. Laboratory of America Holdings's return on assets of last year was 0.16127984.
==> 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.
Laboratory of America Holdings's current Net Income (TTM) was 1,991. Laboratory of America Holdings's current Cash Flow from Operations (TTM) was 2,393.
==> 2,393 > 1,991 ==> 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.
Laboratory of America Holdings's gearing of this year was 0.29725536. Laboratory of America Holdings's gearing of last year was 0.31565851.
==> 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
Laboratory of America Holdings's current ratio of this year was 1.90351508. Laboratory of America Holdings's current ratio of last year was 2.13471561.
==> 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.
Laboratory of America Holdings's number of shares in issue this year was 92.7. Laboratory of America Holdings's number of shares in issue last year was 98.2.
==> 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.
Laboratory of America Holdings's gross margin of this year was 0.32555106. Laboratory of America Holdings's gross margin of last year was 0.38613994.
==> 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
Laboratory of America Holdings's asset turnover of this year was 0.76970774. Laboratory of America Holdings's asset turnover of last year was 0.91814713.
==> 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
Laboratory of America Holdings has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Laboratory of America Holdings (NYSE:LH) 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.
Laboratory of America Holdings Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Laboratory of America Holdings's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Laboratory of America Holdings Business Description
Laboratory Corp. of America is one of the nation's two largest independent clinical laboratories, with roughly 20% of the independent lab market. The company operates approximately 2,000 patient-service centers, offering a broad range of 5,000 clinical lab tests, ranging from routine blood and urine screens to complex oncology and genomic testing. With the addition of Covance, LabCorp also has a sizable footprint in the global contract research organization market.
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