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Paradox Interactive AB (OSTO:PDX) Piotroski F-Score : 7 (As of Mar. 15, 2025)


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What is Paradox Interactive AB Piotroski F-Score?

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

Paradox Interactive AB 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 Paradox Interactive AB's Piotroski F-Score or its related term are showing as below:

OSTO:PDX' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 7

During the past 11 years, the highest Piotroski F-Score of Paradox Interactive AB was 8. The lowest was 4. And the median was 6.


Paradox Interactive AB Piotroski F-Score Historical Data

The historical data trend for Paradox Interactive AB'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.

Paradox Interactive AB Piotroski F-Score Chart

Paradox Interactive AB 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 4.00 8.00 6.00 7.00

Paradox Interactive AB 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 6.00 7.00 6.00 6.00 7.00

Competitive Comparison of Paradox Interactive AB's Piotroski F-Score

For the Electronic Gaming & Multimedia subindustry, Paradox Interactive AB'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.


Paradox Interactive AB's Piotroski F-Score Distribution in the Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Paradox Interactive AB's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Paradox Interactive AB'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 (Dec24) TTM:Last Year (Dec23) TTM:
Net Income was 126.864 + 27.283 + 119.661 + 310.82 = kr585 Mil.
Cash Flow from Operations was 136.91 + 399.521 + 153.666 + 441.797 = kr1,132 Mil.
Revenue was 482.099 + 575.755 + 433.994 + 709.095 = kr2,201 Mil.
Gross Profit was 214.029 + 119.95 + 216.902 + 446.413 = kr997 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(3580.126 + 3548.176 + 3206.06 + 3239.084 + 3532.35) / 5 = kr3421.1592 Mil.
Total Assets at the begining of this year (Dec23) was kr3,580 Mil.
Long-Term Debt & Capital Lease Obligation was kr34 Mil.
Total Current Assets was kr1,906 Mil.
Total Current Liabilities was kr425 Mil.
Net Income was 123.711 + 239.351 + 69.294 + 98.268 = kr531 Mil.

Revenue was 482.777 + 737.334 + 426.442 + 995.554 = kr2,642 Mil.
Gross Profit was 219.706 + 399.575 + 171.934 + 283.572 = kr1,075 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(3141.427 + 3214.451 + 3327.763 + 3433.686 + 3580.126) / 5 = kr3339.4906 Mil.
Total Assets at the begining of last year (Dec22) was kr3,141 Mil.
Long-Term Debt & Capital Lease Obligation was kr76 Mil.
Total Current Assets was kr1,845 Mil.
Total Current Liabilities was kr740 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.

Paradox Interactive AB's current Net Income (TTM) was 585. ==> 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.

Paradox Interactive AB's current Cash Flow from Operations (TTM) was 1,132. ==> 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)
=584.628/3580.126
=0.16329816

ROA (Last Year)=Net Income/Total Assets (Dec22)
=530.624/3141.427
=0.16891177

Paradox Interactive AB's return on assets of this year was 0.16329816. Paradox Interactive AB's return on assets of last year was 0.16891177. ==> 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.

Paradox Interactive AB's current Net Income (TTM) was 585. Paradox Interactive AB's current Cash Flow from Operations (TTM) was 1,132. ==> 1,132 > 585 ==> 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
=33.911/3421.1592
=0.00991214

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=75.997/3339.4906
=0.02275706

Paradox Interactive AB's gearing of this year was 0.00991214. Paradox Interactive AB's gearing of last year was 0.02275706. ==> 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: Dec24)=Total Current Assets/Total Current Liabilities
=1905.512/425.339
=4.4799842

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=1844.803/739.63
=2.49422414

Paradox Interactive AB's current ratio of this year was 4.4799842. Paradox Interactive AB's current ratio of last year was 2.49422414. ==> 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.

Paradox Interactive AB's number of shares in issue this year was 105.723. Paradox Interactive AB's number of shares in issue last year was 105.799. ==> 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
=997.294/2200.943
=0.45312123

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1074.787/2642.107
=0.40679163

Paradox Interactive AB's gross margin of this year was 0.45312123. Paradox Interactive AB's gross margin of last year was 0.40679163. ==> 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)
=2200.943/3580.126
=0.61476691

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=2642.107/3141.427
=0.84105313

Paradox Interactive AB's asset turnover of this year was 0.61476691. Paradox Interactive AB's asset turnover of last year was 0.84105313. ==> 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+1+0+1+1+1+1+1+0
=7

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

Paradox Interactive AB has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Paradox Interactive AB  (OSTO:PDX) 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.


Paradox Interactive AB Piotroski F-Score Related Terms

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Paradox Interactive AB Business Description

Traded in Other Exchanges
Address
Magnus Ladulasgatan 4, Stockholm, SWE, 118 66
Paradox Interactive AB is a Swedish company. It is engaged in the development and publishing of PC-based games. The company's product portfolio includes franchise brands such as g Stellaris, Europa Universalis, Hearts of Iron, Crusader Kings, Cities, Skylines, Tyranny and Magicka. Paradox is also involved in the publishing and internal development of games and licensing of White Wolf's brands. The company distributes its games through the digital platform Steam as well as on Apple, Google Play, and Sony stores. It operates its business across the world. The majority of the company's revenue comes from the United States.