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Welbilt Piotroski F-Score

: 6 (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

Welbilt has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Welbilt's Piotroski F-Score or its related term are showing as below:

NYSE:WBT' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 4   Max: 7
Current: 6

3
7

During the past 9 years, the highest Piotroski F-Score of Welbilt was 7. The lowest was 3. And the median was 4.


Welbilt Piotroski F-Score Historical Data

The historical data trend for Welbilt'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.

Welbilt Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.00 6.00 3.00 3.00 4.00

Welbilt Quarterly Data
Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
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 3.00 4.00 6.00 7.00 6.00

Competitive Comparison

For the Specialty Industrial Machinery subindustry, Welbilt'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.

   

Welbilt Piotroski F-Score Distribution

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

* The bar in red indicates where Welbilt'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 (Sep21) TTM:Last Year (Sep20) TTM:
Net Income was 20.2 + 7.9 + 23.7 + 24.9 = $77 Mil.
Cash Flow from Operations was 41.9 + -16.4 + 37.1 + 13.5 = $76 Mil.
Revenue was 320 + 316.8 + 395.6 + 411.5 = $1,444 Mil.
Gross Profit was 121.5 + 117.8 + 144.9 + 147.5 = $532 Mil.
Average Total Assets from the begining of this year (Sep20)
to the end of this year (Sep21) was
(2150.8 + 2141.6 + 2165.5 + 2249.2 + 2240.2) / 5 = $2189.46 Mil.
Total Assets at the begining of this year (Sep20) was $2,151 Mil.
Long-Term Debt & Capital Lease Obligation was $1,410 Mil.
Total Current Assets was $660 Mil.
Total Current Liabilities was $357 Mil.
Net Income was 18.4 + -15.1 + -17.4 + 4.9 = $-9 Mil.

Revenue was 381.8 + 328.9 + 206 + 298.5 = $1,215 Mil.
Gross Profit was 133.2 + 114.8 + 68.4 + 105.3 = $422 Mil.
Average Total Assets from the begining of last year (Sep19)
to the end of last year (Sep20) was
(2180.3 + 2165.3 + 2185 + 2144.2 + 2150.8) / 5 = $2165.12 Mil.
Total Assets at the begining of last year (Sep19) was $2,180 Mil.
Long-Term Debt & Capital Lease Obligation was $1,476 Mil.
Total Current Assets was $545 Mil.
Total Current Liabilities was $289 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.

Welbilt's current Net Income (TTM) was 77. ==> 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.

Welbilt's current Cash Flow from Operations (TTM) was 76. ==> 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 (Sep20)
=76.7/2150.8
=0.03566115

ROA (Last Year)=Net Income/Total Assets (Sep19)
=-9.2/2180.3
=-0.0042196

Welbilt's return on assets of this year was 0.03566115. Welbilt's return on assets of last year was -0.0042196. ==> 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.

Welbilt's current Net Income (TTM) was 77. Welbilt's current Cash Flow from Operations (TTM) was 76. ==> 76 <= 77 ==> CFROA <= ROA ==> Score 0.

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: Sep21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep20 to Sep21
=1410.4/2189.46
=0.6441771

Gearing (Last Year: Sep20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep19 to Sep20
=1476.2/2165.12
=0.68180978

Welbilt's gearing of this year was 0.6441771. Welbilt's gearing of last year was 0.68180978. ==> 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: Sep21)=Total Current Assets/Total Current Liabilities
=660.2/357.4
=1.84722999

Current Ratio (Last Year: Sep20)=Total Current Assets/Total Current Liabilities
=545.2/288.6
=1.88911989

Welbilt's current ratio of this year was 1.84722999. Welbilt's current ratio of last year was 1.88911989. ==> 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.

Welbilt's number of shares in issue this year was 143.414. Welbilt's number of shares in issue last year was 141.561. ==> 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
=531.7/1443.9
=0.3682388

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=421.7/1215.2
=0.34702107

Welbilt's gross margin of this year was 0.3682388. Welbilt's gross margin of last year was 0.34702107. ==> 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 (Sep20)
=1443.9/2150.8
=0.6713316

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep19)
=1215.2/2180.3
=0.55735449

Welbilt's asset turnover of this year was 0.6713316. Welbilt's asset turnover of last year was 0.55735449. ==> 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+0+1+0+0+1+1
=6

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

Welbilt has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Welbilt  (NYSE:WBT) 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.


Welbilt Piotroski F-Score Related Terms

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


Welbilt Business Description

Welbilt logo
Industry
Industrials » Industrial Products NAICS : 333241 SIC : 3556
Traded in Other Exchanges
Address
2227 Welbilt Boulevard, New Port Richey, FL, USA, 34655
Welbilt Inc is engaged in the designing, manufacturing and supplying of equipment for the commercial foodservice market which is used by commercial and institutional foodservice operators including full-service restaurants, quick-service restaurant chains, hotels, resorts, cruise ships, caterers, supermarkets, convenience stores, hospitals, schools, and other institutions. The group offers various products such as grills, induction cookers braising pans, steamers, and others under the brands name such as Cleveland, Convotherm, Delfield, Frymaster, and others. The firm's geographical segments include Americas, EMEA, and APAC. It generates a majority of its revenue from the Americas.
Executives
Agard Martin D. officer: EVP Chief Financial Officer 3000 JOHN DEERE ROAD TOANO VA 23168
Perez Kimberly Ann officer: VP, Chief Accounting Officer 4211 W. BOY SCOUT BLVD. TAMPA FL 33607
Fields Janice L director 800 NORTH LINDBERGH BLVD. ST. LOUIS MO 63167
Egnotovich Cynthia M director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: EGNOTOVICH CYNTHIA M a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Sheffer Richard James officer: VP, IR, Risk Mgmt, Treasurer MANITOWOC FOODSERVICE INC. 2227 WELBILT BLVD. NEW PORT RICHEY FL 34655
Palm Jamie E officer: VP, Corp Controller, CAO 2227 WELBILT BLVD NEW PORT RICHEY FL 34655
Caron Richard N. officer: EVP Chief Innovation Officer MANITOWOC FOODSERVICE INC 2227 WELBILT BLVD NEW PORT RICHEY FL 34655
Gudenkauf Jennifer officer: EVP & CHRO 2227 WELBILT BLVD NEW PORT RICHEY FL 34655
Johnson William director, officer: President and CEO 3005 HIGHLAND PARKWAY SUITE 200 DOWNERS GROVE IL 60515
Chow Joan Kai director 215 W DIEHL ROAD NAPERVILLE IL 60563
Horn Joel H. officer: EVP, Gen Counsel and Corp Secy 2227 WELBILT BOULEVARD NEW PORT RICHEY FL 34655
Davis Thomas Dale director MANITOWOC FOODSERVICE INC 2227 WELBILT BLVD NEW PORT RICHEY FL 34655
Gamache Brian R director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: GAMACHE BRIAN R a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Matosevic Josef officer: EVP Chief Operating Officer 1500 WEST UNIVERSITY PARKWAY SARASOTA FL 34243
Langham Andrew director C/O ICAHN ENTERPRISES L.P. 16690 COLLINS AVE., PH SUNNY ISLES FL 33160

Welbilt Headlines

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