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Eolus AB (publ) (OSTO:EOLU B) Piotroski F-Score : 4 (As of Jul. 22, 2025)


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What is Eolus 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

Eolus AB (publ) has an F-score of 4 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Eolus AB (publ)'s Piotroski F-Score or its related term are showing as below:

OSTO:EOLU B' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 9
Current: 4

During the past 13 years, the highest Piotroski F-Score of Eolus AB (publ) was 9. The lowest was 3. And the median was 5.


Eolus AB (publ) Piotroski F-Score Historical Data

The historical data trend for Eolus 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.

Eolus AB (publ) Piotroski F-Score Chart

Eolus AB (publ) Annual Data
Trend Aug15 Aug16 Aug17 Aug18 Aug19 Aug20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 4.00 3.00 5.00 3.00

Eolus AB (publ) Quarterly Data
May20 Aug20 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 6.00 4.00 3.00 3.00 4.00

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

For the Utilities - Renewable subindustry, Eolus 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.


Eolus AB (publ)'s Piotroski F-Score Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Eolus AB (publ)'s Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Eolus 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 (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was -50 + -79 + 316 + 90 = kr277 Mil.
Cash Flow from Operations was -517 + -1042 + -257 + 1411 = kr-405 Mil.
Revenue was 54 + 24 + 729 + 1975 = kr2,782 Mil.
Gross Profit was 57 + -10 + 539 + 222 = kr808 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(2958 + 3397 + 3989 + 4562 + 2841) / 5 = kr3549.4 Mil.
Total Assets at the begining of this year (Mar24) was kr2,958 Mil.
Long-Term Debt & Capital Lease Obligation was kr568 Mil.
Total Current Assets was kr2,759 Mil.
Total Current Liabilities was kr484 Mil.
Net Income was 422 + 94 + 71 + -32 = kr555 Mil.

Revenue was 1742 + 127 + 155 + 44 = kr2,068 Mil.
Gross Profit was 621 + 171 + 162 + 66 = kr1,020 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(1951 + 2496 + 2709 + 2808 + 2958) / 5 = kr2584.4 Mil.
Total Assets at the begining of last year (Mar23) was kr1,951 Mil.
Long-Term Debt & Capital Lease Obligation was kr541 Mil.
Total Current Assets was kr2,642 Mil.
Total Current Liabilities was kr702 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.

Eolus AB (publ)'s current Net Income (TTM) was 277. ==> 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.

Eolus AB (publ)'s current Cash Flow from Operations (TTM) was -405. ==> Negative ==> Score 0.

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)
=277/2958
=0.09364435

ROA (Last Year)=Net Income/Total Assets (Mar23)
=555/1951
=0.2844695

Eolus AB (publ)'s return on assets of this year was 0.09364435. Eolus AB (publ)'s return on assets of last year was 0.2844695. ==> 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.

Eolus AB (publ)'s current Net Income (TTM) was 277. Eolus AB (publ)'s current Cash Flow from Operations (TTM) was -405. ==> -405 <= 277 ==> 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: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=568/3549.4
=0.16002705

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=541/2584.4
=0.20933292

Eolus AB (publ)'s gearing of this year was 0.16002705. Eolus AB (publ)'s gearing of last year was 0.20933292. ==> 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
=2759/484
=5.70041322

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=2642/702
=3.76353276

Eolus AB (publ)'s current ratio of this year was 5.70041322. Eolus AB (publ)'s current ratio of last year was 3.76353276. ==> 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.

Eolus AB (publ)'s number of shares in issue this year was 24.907. Eolus AB (publ)'s number of shares in issue last year was 24.907. ==> 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
=808/2782
=0.29043853

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1020/2068
=0.49323017

Eolus AB (publ)'s gross margin of this year was 0.29043853. Eolus AB (publ)'s gross margin of last year was 0.49323017. ==> 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 (Mar24)
=2782/2958
=0.94050034

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=2068/1951
=1.05996925

Eolus AB (publ)'s asset turnover of this year was 0.94050034. Eolus AB (publ)'s asset turnover of last year was 1.05996925. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+0+0+0+1+1+1+0+0
=4

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

Eolus AB (publ) has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Eolus AB (publ)  (OSTO:EOLU 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.


Eolus AB (publ) Piotroski F-Score Related Terms

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Eolus AB (publ) Business Description

Traded in Other Exchanges
Address
Tredje Avenyen 3, Box 95, Hassleholm, SWE, 281 21
Eolus Vind AB is a wind power contractor in Sweden. The company is engaged in the development and construction of wind turbines for divestment or proprietary management. It is also engaged in project development activity, which includes pre-study, project development, establishment, and sale of wind power facilities. Its project portfolio includes onshore wind, offshore wind, solar power, storage, and sea-based wind. The majority of its revenue comes from the project planning segment.

Eolus AB (publ) Headlines

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