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Ambu AS (OCSE:AMBU B) Piotroski F-Score : 8 (As of Jul. 14, 2025)


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What is Ambu AS Piotroski F-Score?

Good Sign:

Piotroski F-Score is 8, 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

Ambu AS has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

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

OCSE:AMBU B' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 9
Current: 8

During the past 13 years, the highest Piotroski F-Score of Ambu AS was 9. The lowest was 3. And the median was 6.


Ambu AS Piotroski F-Score Historical Data

The historical data trend for Ambu AS'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.

Ambu AS Piotroski F-Score Chart

Ambu AS Annual Data
Trend Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 7.00 4.00 6.00 9.00

Ambu AS Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Piotroski F-Score Get a 7-Day Free Trial 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 8.00 9.00 9.00 8.00 8.00

Competitive Comparison of Ambu AS's Piotroski F-Score

For the Medical Devices subindustry, Ambu AS'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.


Ambu AS's Piotroski F-Score Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Ambu AS's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Ambu AS's Piotroski F-Score falls into.


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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 (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was 134 + -135 + 183 + 188 = kr370 Mil.
Cash Flow from Operations was 235 + 193 + 144 + 161 = kr733 Mil.
Revenue was 1383 + 1387 + 1510 + 1554 = kr5,834 Mil.
Gross Profit was 832 + 817 + 925 + 942 = kr3,516 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(7061 + 7288 + 7154 + 7380 + 7414) / 5 = kr7259.4 Mil.
Total Assets at the begining of this year (Mar24) was kr7,061 Mil.
Long-Term Debt & Capital Lease Obligation was kr478 Mil.
Total Current Assets was kr2,891 Mil.
Total Current Liabilities was kr1,003 Mil.
Net Income was 51 + 80 + 92 + 144 = kr367 Mil.

Revenue was 1195 + 1259 + 1254 + 1367 = kr5,075 Mil.
Gross Profit was 672 + 715 + 739 + 813 = kr2,939 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(6937 + 6824 + 6859 + 6838 + 7061) / 5 = kr6903.8 Mil.
Total Assets at the begining of last year (Mar23) was kr6,937 Mil.
Long-Term Debt & Capital Lease Obligation was kr557 Mil.
Total Current Assets was kr2,240 Mil.
Total Current Liabilities was kr886 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.

Ambu AS's current Net Income (TTM) was 370. ==> 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.

Ambu AS's current Cash Flow from Operations (TTM) was 733. ==> 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 (Mar24)
=370/7061
=0.05240051

ROA (Last Year)=Net Income/Total Assets (Mar23)
=367/6937
=0.05290471

Ambu AS's return on assets of this year was 0.05240051. Ambu AS's return on assets of last year was 0.05290471. ==> 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.

Ambu AS's current Net Income (TTM) was 370. Ambu AS's current Cash Flow from Operations (TTM) was 733. ==> 733 > 370 ==> 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: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=478/7259.4
=0.06584566

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=557/6903.8
=0.08068021

Ambu AS's gearing of this year was 0.06584566. Ambu AS's gearing of last year was 0.08068021. ==> 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: Mar25)=Total Current Assets/Total Current Liabilities
=2891/1003
=2.88235294

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=2240/886
=2.5282167

Ambu AS's current ratio of this year was 2.88235294. Ambu AS's current ratio of last year was 2.5282167. ==> 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.

Ambu AS's number of shares in issue this year was 264.789. Ambu AS's number of shares in issue last year was 266.667. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=3516/5834
=0.60267398

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2939/5075
=0.5791133

Ambu AS's gross margin of this year was 0.60267398. Ambu AS's gross margin of last year was 0.5791133. ==> 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 (Mar24)
=5834/7061
=0.82622858

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=5075/6937
=0.73158426

Ambu AS's asset turnover of this year was 0.82622858. Ambu AS's asset turnover of last year was 0.73158426. ==> 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+0+1+1+1+1+1+1
=8

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

Ambu AS has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Ambu AS  (OCSE:AMBU B) 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.


Ambu AS Piotroski F-Score Related Terms

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Ambu AS Business Description

Traded in Other Exchanges
Address
Baltorpbakken 13, Ballerup, DNK, DK-2750
Ambu AS is a Denmark based company providing single-use flexible endoscopes and is dedicated to optimizing hospital workflows and improving patient care. The company has created medtech solutions like resuscitators, anaesthesia masks, and electrodes and operates R&D, manufacturing and sales in Europe, North America and Rest of the world.

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