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Compagnie Financiere Richemont Piotroski F-Score

: 7 (As of Today)
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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

Compagnie Financiere Richemont 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 Compagnie Financiere Richemont's Piotroski F-Score or its related term are showing as below:

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

During the past 13 years, the highest Piotroski F-Score of Compagnie Financiere Richemont was 7. The lowest was 4. And the median was 6.


Compagnie Financiere Richemont Piotroski F-Score Historical Data

The historical data trend for Compagnie Financiere Richemont'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.

Compagnie Financiere Richemont Annual Data
Trend Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 4.00 5.00 5.00 7.00

Compagnie Financiere Richemont Semi-Annual Data
Sep12 Mar13 Sep13 Mar14 Sep14 Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22
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 5.00 - 5.00 - 7.00

Competitive Comparison

For the Luxury Goods subindustry, Compagnie Financiere Richemont'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.

   

Compagnie Financiere Richemont Piotroski F-Score Distribution

For the Retail - Cyclical industry and Consumer Cyclical sector, Compagnie Financiere Richemont's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Compagnie Financiere Richemont'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 (Mar22) TTM:Last Year (Mar21) TTM:
Net Income was $2,284 Mil.
Cash Flow from Operations was $5,108 Mil.
Revenue was $21,124 Mil.
Gross Profit was $13,246 Mil.
Average Total Assets from the begining of this year (Mar21)
to the end of this year (Mar22) was (42094.047619048 + 44037.444933921) / 2 = $43065.746276484 Mil.
Total Assets at the begining of this year (Mar21) was $42,094 Mil.
Long-Term Debt & Capital Lease Obligation was $10,012 Mil.
Total Current Assets was $27,956 Mil.
Total Current Liabilities was $11,572 Mil.
Net Income was $1,549 Mil.

Revenue was $15,648 Mil.
Gross Profit was $9,358 Mil.
Average Total Assets from the begining of last year (Mar20)
to the end of last year (Mar21) was (33658.563535912 + 42094.047619048) / 2 = $37876.30557748 Mil.
Total Assets at the begining of last year (Mar20) was $33,659 Mil.
Long-Term Debt & Capital Lease Obligation was $10,602 Mil.
Total Current Assets was $25,245 Mil.
Total Current Liabilities was $9,686 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.

Compagnie Financiere Richemont's current Net Income (TTM) was 2,284. ==> 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.

Compagnie Financiere Richemont's current Cash Flow from Operations (TTM) was 5,108. ==> 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 (Mar21)
=2284.140969163/42094.047619048
=0.0542628

ROA (Last Year)=Net Income/Total Assets (Mar20)
=1548.8095238095/33658.563535912
=0.04601532

Compagnie Financiere Richemont's return on assets of this year was 0.0542628. Compagnie Financiere Richemont's return on assets of last year was 0.04601532. ==> 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.

Compagnie Financiere Richemont's current Net Income (TTM) was 2,284. Compagnie Financiere Richemont's current Cash Flow from Operations (TTM) was 5,108. ==> 5,108 > 2,284 ==> 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: Mar22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar21 to Mar22
=10012.114537445/43065.746276484
=0.23248441

Gearing (Last Year: Mar21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar20 to Mar21
=10602.380952381/37876.30557748
=0.2799212

Compagnie Financiere Richemont's gearing of this year was 0.23248441. Compagnie Financiere Richemont's gearing of last year was 0.2799212. ==> 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: Mar22)=Total Current Assets/Total Current Liabilities
=27955.947136564/11571.585903084
=2.4159132

Current Ratio (Last Year: Mar21)=Total Current Assets/Total Current Liabilities
=25245.238095238/9685.7142857143
=2.60644051

Compagnie Financiere Richemont's current ratio of this year was 2.4159132. Compagnie Financiere Richemont's current ratio of last year was 2.60644051. ==> 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.

Compagnie Financiere Richemont's number of shares in issue this year was 574.4. Compagnie Financiere Richemont's number of shares in issue last year was 566.6. ==> 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
=13245.594713656/21124.449339207
=0.62702675

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=9358.3333333333/15647.619047619
=0.59806756

Compagnie Financiere Richemont's gross margin of this year was 0.62702675. Compagnie Financiere Richemont's gross margin of last year was 0.59806756. ==> 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 (Mar21)
=21124.449339207/42094.047619048
=0.50183935

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar20)
=15647.619047619/33658.563535912
=0.46489266

Compagnie Financiere Richemont's asset turnover of this year was 0.50183935. Compagnie Financiere Richemont's asset turnover of last year was 0.46489266. ==> 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+1+1+0+0+1+1
=7

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

Compagnie Financiere Richemont has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Compagnie Financiere Richemont  (OTCPK:CFRHF) 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.


Compagnie Financiere Richemont Piotroski F-Score Related Terms

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Compagnie Financiere Richemont Business Description

Compagnie Financiere Richemont logo
Address
50, Chemin de la Chenaie, CP 30, Bellevue, Geneva, CHE, 1293
Richemont is a luxury goods conglomerate with 20 brands. Jewellery and watch brands make up over 70% of sales, but the group is also active in accessories, writing instruments, clothing and online luxury retail. Richemont's Jewellery Maisons, including Cartier and Van Cleef & Arpels, account for 56% of revenue and over 95% of profits. Its other brands include Vacheron Constantin, Piaget, Jaeger-LeCoultre, IWC Schaffhausen, Lange & Soehne, Officine Panerai, and Montblanc. Online businesses include Yoox Net-a-Porter.

Compagnie Financiere Richemont Headlines

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