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Carasent AB (publ) (OSTO:CARA) Piotroski F-Score : 5 (As of Mar. 28, 2025)


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What is Carasent AB (publ) Piotroski F-Score?

The zones of discrimination were as such:

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

Carasent AB (publ) 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 Carasent AB (publ)'s Piotroski F-Score or its related term are showing as below:

OSTO:CARA' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 7
Current: 5

During the past 13 years, the highest Piotroski F-Score of Carasent AB (publ) was 7. The lowest was 3. And the median was 6.


Carasent AB (publ) Piotroski F-Score Historical Data

The historical data trend for Carasent AB (publ)'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.

Carasent AB (publ) Piotroski F-Score Chart

Carasent AB (publ) Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 6.00 5.00 3.00 5.00

Carasent AB (publ) Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
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 3.00 4.00 6.00 8.00 5.00

Competitive Comparison of Carasent AB (publ)'s Piotroski F-Score

For the Health Information Services subindustry, Carasent AB (publ)'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.


Carasent AB (publ)'s Piotroski F-Score Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Carasent AB (publ)'s Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Carasent AB (publ)'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 (Dec24) TTM:Last Year (Dec23) TTM:
Net Income was -10.351 + -5.66 + -1.955 + -23.723 = kr-41.7 Mil.
Cash Flow from Operations was 12.945 + 13.551 + -4.172 + 15.959 = kr38.3 Mil.
Revenue was 65.642 + 65.481 + 63.853 + 77.09 = kr272.1 Mil.
Gross Profit was 55.178 + 55.777 + 54.532 + 64.528 = kr230.0 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(1063.391 + 1086.211 + 1077.649 + 1053.293 + 1049.793) / 5 = kr1066.0674 Mil.
Total Assets at the begining of this year (Dec23) was kr1,063.4 Mil.
Long-Term Debt & Capital Lease Obligation was kr29.5 Mil.
Total Current Assets was kr309.8 Mil.
Total Current Liabilities was kr114.9 Mil.
Net Income was -1.03 + -51.173 + -4.628 + 10.514 = kr-46.3 Mil.

Revenue was 59.625 + 63.065 + 57.384 + 62.604 = kr242.7 Mil.
Gross Profit was 47.884 + 51.988 + 46.062 + 50.76 = kr196.7 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(1439.983 + 1397.812 + 1334.61 + 1379.602 + 1063.391) / 5 = kr1323.0796 Mil.
Total Assets at the begining of last year (Dec22) was kr1,440.0 Mil.
Long-Term Debt & Capital Lease Obligation was kr36.6 Mil.
Total Current Assets was kr412.9 Mil.
Total Current Liabilities was kr88.0 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.

Carasent AB (publ)'s current Net Income (TTM) was -41.7. ==> 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.

Carasent AB (publ)'s current Cash Flow from Operations (TTM) was 38.3. ==> 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 (Dec23)
=-41.689/1063.391
=-0.03920383

ROA (Last Year)=Net Income/Total Assets (Dec22)
=-46.317/1439.983
=-0.03216496

Carasent AB (publ)'s return on assets of this year was -0.03920383. Carasent AB (publ)'s return on assets of last year was -0.03216496. ==> 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.

Carasent AB (publ)'s current Net Income (TTM) was -41.7. Carasent AB (publ)'s current Cash Flow from Operations (TTM) was 38.3. ==> 38.3 > -41.7 ==> 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: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=29.5/1066.0674
=0.0276718

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=36.594/1323.0796
=0.0276582

Carasent AB (publ)'s gearing of this year was 0.0276718. Carasent AB (publ)'s gearing of last year was 0.0276582. ==> 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: Dec24)=Total Current Assets/Total Current Liabilities
=309.818/114.91
=2.69617962

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=412.941/87.981
=4.69352474

Carasent AB (publ)'s current ratio of this year was 2.69617962. Carasent AB (publ)'s current ratio of last year was 4.69352474. ==> 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.

Carasent AB (publ)'s number of shares in issue this year was 71.268. Carasent AB (publ)'s number of shares in issue last year was 77.236. ==> 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
=230.015/272.066
=0.84543824

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=196.694/242.678
=0.81051434

Carasent AB (publ)'s gross margin of this year was 0.84543824. Carasent AB (publ)'s gross margin of last year was 0.81051434. ==> 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 (Dec23)
=272.066/1063.391
=0.25584757

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=242.678/1439.983
=0.16852838

Carasent AB (publ)'s asset turnover of this year was 0.25584757. Carasent AB (publ)'s asset turnover of last year was 0.16852838. ==> 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+0+1+0+0+1+1+1
=5

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

Carasent AB (publ) has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Carasent AB (publ)  (OSTO:CARA) 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.


Carasent AB (publ) Piotroski F-Score Related Terms

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Carasent AB (publ) Business Description

Traded in Other Exchanges
Address
Ovre Slottsgate 2B, Oslo, NOR, 0157
Carasent AB (publ) Formerly Carasent AB is in the businesses that develop entrepreneurial and e-health solutions. It delivers cloud based EHR solutions, with Webdoc as the platform, and a ecosystem of platform services, including solutions for patient communication and business intelligence. The ecosystem of solutions makes Carasent a one-stop shop for clinics and can cover all needs.