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Vishay Precision Group Piotroski F-Score

: 7 (As of Today)
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Good Sign:

Piotroski F-Score is 7, indicates a 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

Vishay Precision Group 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 Vishay Precision Group's Piotroski F-Score or its related term are showing as below:

VPG' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Vishay Precision Group was 8. The lowest was 3. And the median was 5.


Vishay Precision Group Piotroski F-Score Historical Data

The historical data trend for Vishay Precision Group'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.

Vishay Precision Group Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 8.00 4.00 4.00 6.00

Vishay Precision Group 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 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 4.00 5.00 6.00 5.00 7.00

Competitive Comparison

For the Scientific & Technical Instruments subindustry, Vishay Precision Group'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.

   

Vishay Precision Group Piotroski F-Score Distribution

For the Hardware industry and Technology sector, Vishay Precision Group's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Vishay Precision Group'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 5.379 + 5.961 + 6.356 + 10.755 = $28.5 Mil.
Cash Flow from Operations was 5.703 + 15.456 + -0.273 + 9.029 = $29.9 Mil.
Revenue was 81.974 + 90.017 + 87.665 + 88.618 = $348.3 Mil.
Gross Profit was 31.845 + 34.877 + 35.25 + 37.334 = $139.3 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(440.297 + 449.923 + 461.889 + 457.819 + 458.378) / 5 = $453.6612 Mil.
Total Assets at the begining of this year (Jun21) was $440.3 Mil.
Long-Term Debt & Capital Lease Obligation was $82.5 Mil.
Total Current Assets was $237.7 Mil.
Total Current Liabilities was $59.4 Mil.
Net Income was 5.598 + 0.118 + 4.961 + 3.92 = $14.6 Mil.

Revenue was 67.525 + 75.445 + 70.589 + 75.339 = $288.9 Mil.
Gross Profit was 27.349 + 28.747 + 28.622 + 29.798 = $114.5 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(384.65 + 392.706 + 401.887 + 398.6 + 440.297) / 5 = $403.628 Mil.
Total Assets at the begining of last year (Jun20) was $384.7 Mil.
Long-Term Debt & Capital Lease Obligation was $83.0 Mil.
Total Current Assets was $218.5 Mil.
Total Current Liabilities was $51.4 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.

Vishay Precision Group's current Net Income (TTM) was 28.5. ==> 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.

Vishay Precision Group's current Cash Flow from Operations (TTM) was 29.9. ==> 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)
=28.451/440.297
=0.06461775

ROA (Last Year)=Net Income/Total Assets (Jun20)
=14.597/384.65
=0.03794878

Vishay Precision Group's return on assets of this year was 0.06461775. Vishay Precision Group's return on assets of last year was 0.03794878. ==> 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.

Vishay Precision Group's current Net Income (TTM) was 28.5. Vishay Precision Group's current Cash Flow from Operations (TTM) was 29.9. ==> 29.9 > 28.5 ==> 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
=82.507/453.6612
=0.1818692

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=83.016/403.628
=0.20567453

Vishay Precision Group's gearing of this year was 0.1818692. Vishay Precision Group's gearing of last year was 0.20567453. ==> 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: Jun22)=Total Current Assets/Total Current Liabilities
=237.669/59.427
=3.99934373

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=218.45/51.431
=4.24743832

Vishay Precision Group's current ratio of this year was 3.99934373. Vishay Precision Group's current ratio of last year was 4.24743832. ==> 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.

Vishay Precision Group's number of shares in issue this year was 13.692. Vishay Precision Group's number of shares in issue last year was 13.646. ==> 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
=139.306/348.274
=0.39998966

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=114.516/288.898
=0.39638904

Vishay Precision Group's gross margin of this year was 0.39998966. Vishay Precision Group's gross margin of last year was 0.39638904. ==> This year's gross margin is higher. ==> Score 1.

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)
=348.274/440.297
=0.79099789

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=288.898/384.65
=0.7510672

Vishay Precision Group's asset turnover of this year was 0.79099789. Vishay Precision Group's asset turnover of last year was 0.7510672. ==> 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+0+0+1+1
=7

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

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

Vishay Precision Group  (NYSE:VPG) 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.


Vishay Precision Group Piotroski F-Score Related Terms

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Vishay Precision Group Business Description

Vishay Precision Group logo
Traded in Other Exchanges
N/A
Address
3 Great Valley Parkway, Suite 150, Malvern, PA, USA, 19355
Vishay Precision Group Inc manufactures and markets sensors, and sensor-based measurement systems, as well as specialty resistors and strain gages based on proprietary technology. The company provides precision products and solutions, many of which are designed-in by customers, specializing in the growing markets of stress, force, weight, pressure, and current measurements. Its most products and solutions are primarily based upon proprietary foil technology and are produced as part of a vertically integrated structure. The product segments of the group are Foil Technology Products, Force Sensors and Weighing and Control Systems. It has a business presence in the United States and other countries.
Executives
Lerner Bruce A. director C/O VISHAY PRECISION GROUP, INC. 3 GREAT VALLEY PARKWAY, SUITE 150 MALVERN PA 19355
Reibstein Saul director C/O VISHAY PRECISION GROUP, INC. 3 GREAT VALLEY PARKWAY, SUITE 150 MALVERN PA 19355
Clarke Janet M director EXPRESSJET HOLDINGS, INC. 700 N SAM HOUSTON PRKWY W, SUITE 200 HOUSTON TX 77067
Zandman Marc director C/O VISHAY INTERTECHNOLOGY, INC. 63 LINCOLN HIGHWAY MALVERN PA 19355
Talbert Timothy director 3152 CASWELL DR TROY MI 48084
Tal Amir officer: SVP and CAO C/O VISHAY PRECISION GROUP, INC. 3 GREAT VALLEY PARKWAY, SUITE 150 MALVERN PA 19355
Cummins Wes director 4505 LORRAINE AVE DALLAS TX 75205
Gulati Sejal Shah director C/O VISHAY PRECISION GROUP, INC. 3 GREAT VALLEY PARKWAY, SUITE 150 MALVERN PA 19355
Clancy William M officer: Exec. VP/CFO 3 GREAT VALLEY PKWY MALVERN PA 19355
Shoshani Ziv director, officer: President & CEO C/O VISHAY INTERTECHNOLOGY, INC. 63 LANCASTER AVE MALVERN PA 19355
Wood Cary B director 425 NORTH MARTINGALE ROAD SUITE 1000 SCHAUMBURG IL 60173
Desilets Roland B officer: General Counsel & Secretary 3 GREAT VALLEY PARKWAY SUITE 150 MALVERN PA 19355
Nokomis Capital, L.l.c. 10 percent owner PO BOX 155 4347 W. NORTHWEST HWY, SUITE 130 DALLAS TX 75220
Hendrickson Brett 10 percent owner 300 CRESCENT COURT SUITE 1740 DALLAS TX 75201
Broydo Samuel director C/O VISHAY PRECISION GROUP, INC. 3 GREAT VALLEY PARKWAY, SUITE 150 MALVERN PA 19355

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