Market Cap : 5.64 B | Enterprise Value : 9.24 B | PE Ratio : At Loss | PB Ratio : 1.10 |
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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
Perrigo Co 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 Perrigo Co's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Perrigo Co was 9. The lowest was 2. And the median was 6.
The historical data trend for Perrigo Co'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.
For the Drug Manufacturers - Specialty & Generic subindustry, Perrigo Co'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.
For the Drug Manufacturers industry and Healthcare sector, Perrigo Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Perrigo Co'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 (Jun22) TTM: | Last Year (Jun21) TTM: |
Net Income was -58.9 + 9.6 + -2.4 + -65.1 = $-117 Mil. Cash Flow from Operations was 343.8 + -105.4 + 79.1 + -16.9 = $301 Mil. Revenue was 1042.7 + 1104.9 + 1074.5 + 1121.7 = $4,344 Mil. Gross Profit was 336.4 + 362.4 + 337.8 + 372.1 = $1,409 Mil. Average Total Assets from the begining of this year (Jun21) to the end of this year (Jun22) was (11230.3 + 10915.9 + 10425.7 + 10389.5 + 10919.6) / 5 = $10776.2 Mil. Total Assets at the begining of this year (Jun21) was $11,230 Mil. Long-Term Debt & Capital Lease Obligation was $4,086 Mil. Total Current Assets was $2,652 Mil. Total Current Liabilities was $1,015 Mil. |
Net Income was -154.6 + -175 + 38.1 + -57.7 = $-349 Mil. Revenue was 1003 + 1053.2 + 1010 + 981.1 = $4,047 Mil. Gross Profit was 369.7 + 384.4 + 368.4 + 349 = $1,472 Mil. Average Total Assets from the begining of last year (Jun20) to the end of last year (Jun21) was (12128.3 + 11576 + 11488.4 + 11324.8 + 11230.3) / 5 = $11549.56 Mil. Total Assets at the begining of last year (Jun20) was $12,128 Mil. Long-Term Debt & Capital Lease Obligation was $2,926 Mil. Total Current Assets was $4,420 Mil. Total Current Liabilities was $1,985 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.
Perrigo Co's current Net Income (TTM) was -117.
==> 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.
Perrigo Co's current Cash Flow from Operations (TTM) was 301.
==> 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 (Jun21) |
= | -116.8 | / | 11230.3 | |
= | -0.01040043 |
ROA (Last Year) | = | Net Income | / | Total Assets (Jun20) |
= | -349.2 | / | 12128.3 | |
= | -0.02879216 |
Perrigo Co's return on assets of this year was -0.01040043. Perrigo Co's return on assets of last year was -0.02879216.
==> 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.
Perrigo Co's current Net Income (TTM) was -117. Perrigo Co's current Cash Flow from Operations (TTM) was 301.
==> 301 > -117 ==> 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: Jun22) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Jun21 to Jun22 |
= | 4086.1 | / | 10776.2 | |
= | 0.37917819 |
Gearing (Last Year: Jun21) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Jun20 to Jun21 |
= | 2925.8 | / | 11549.56 | |
= | 0.25332567 |
Perrigo Co's gearing of this year was 0.37917819. Perrigo Co's gearing of last year was 0.25332567.
==> 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: Jun22) | = | Total Current Assets | / | Total Current Liabilities |
= | 2651.5 | / | 1014.6 | |
= | 2.61334516 |
Current Ratio (Last Year: Jun21) | = | Total Current Assets | / | Total Current Liabilities |
= | 4420.2 | / | 1984.5 | |
= | 2.22736206 |
Perrigo Co's current ratio of this year was 2.61334516. Perrigo Co's current ratio of last year was 2.22736206.
==> 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.
Perrigo Co's number of shares in issue this year was 134.6. Perrigo Co's number of shares in issue last year was 133.6.
==> 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 |
= | 1408.7 | / | 4343.8 | |
= | 0.3243013 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 1471.5 | / | 4047.3 | |
= | 0.36357572 |
Perrigo Co's gross margin of this year was 0.3243013. Perrigo Co's gross margin of last year was 0.36357572.
==> 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 (Jun21) |
= | 4343.8 | / | 11230.3 | |
= | 0.38679287 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Jun20) |
= | 4047.3 | / | 12128.3 | |
= | 0.33370711 |
Perrigo Co's asset turnover of this year was 0.38679287. Perrigo Co's asset turnover of last year was 0.33370711.
==> 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 |
= | 0 | + | 1 | + | 1 | + | 1 | + | 0 | + | 1 | + | 0 | + | 0 | + | 1 | |
= | 5 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Perrigo Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.
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.
Thank you for viewing the detailed overview of Perrigo Co's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Ives Alison | officer: EVP & Chief Scientific Officer | C/O PERRIGO COMPANY PLC 515 EASTERN AVENUE ALLEGAN MI 49010 |
Hanson Kyle | officer: EVP & General Counsel | |
Bezerra Eduardo Guarita | officer: EVP & Chief Financial Officer | C/O FRESH DEL MONTE PRODUCE INC. PO BOX 149222 CORAL GABLES FL 33134 |
Ashford Orlando D | director | C/O AMERANT BANK 220 ALHAMBRA CR. CORAL GABLES FL 33134 |
Doyle Katherine C. | director | 100 ABBOTT PARK ROAD, AP6C-1N D032L ABBOTT PARK IL 60064 |
Sorota Richard S | officer: EVP & President CSCA | HARMAN INTERNATIONAL INDUSTRIES, INC. 1101 PENNSYLVANIA AVE, NW, #1010 WASHINGTON DC 20004 |
Mann Erica L | director | ONE KELLOGG SQUARE P.O. BOX 3599 BATTLE CREEK MI 49016-3599 |
Silcock Raymond | officer: EVP, Chief Financial Officer | 399 JEFFERSON ROAD PARSIPPANY NJ 07054 |
Willis Robert | officer: Acting CHRO | C/O PERRIGO COMPANY PLC 515 EASTERN AVENUE ALLEGAN MI 49010 |
Dillard James E Iii | officer: EVP, Chief Scientific Officer | 6601 WEST BROAD STREET RICHMOND VA 23230 |
Kessler Murray S | director, officer: CEO | 714 GREEN VALLEY ROAD GREENSBORO NC 27408 |
Smith Jeffrey C | director | 777 THIRD AVENUE, 18TH FLOOR NEW YORK NY 10017 |
Roehrhoff Uwe | director, officer: CEO | C/O PERRIGO COMPANY PLC TREASURY BUILDING, LOWER GRAND CANAL ST DUBLIN L2 D2 |
Classon Rolf A | director | C/O CATALENT, INC. 14 SCHOOLHOUSE ROAD SOMERSET NJ 08873 |
Karaboutis Adriana | director | C/O BIOGEN IDEC INC. 225 BINNEY ST. CAMBRIDGE MA 02142 |
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