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GEA Group AG Piotroski F-Score

: 8 (As of Today)
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Good Sign:

Piotroski F-Score is 8, indicating 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

GEA Group AG 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 GEA Group AG's Piotroski F-Score or its related term are showing as below:

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

4
8

During the past 13 years, the highest Piotroski F-Score of GEA Group AG was 8. The lowest was 4. And the median was 6.


GEA Group AG Piotroski F-Score Historical Data

The historical data trend for GEA Group AG'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.

GEA Group AG Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.00 7.00 6.00 4.00 6.00

GEA Group AG Quarterly Data
Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
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 6.00 6.00 8.00 7.00 8.00

Competitive Comparison

For the Specialty Industrial Machinery subindustry, GEA Group AG'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.

   

GEA Group AG Piotroski F-Score Distribution

For the Industrial Products industry and Industrials sector, GEA Group AG's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where GEA Group AG'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 (Sep21) TTM:Last Year (Sep20) TTM:
Net Income was -26.293187347932 + 67.540476190476 + 92.638554216867 + 95.403529411765 = $229 Mil.
Cash Flow from Operations was 398.45133819951 + 53.529761904762 + 139.81325301205 + 283.03176470588 = $875 Mil.
Revenue was 1497.3381995134 + 1268.344047619 + 1392.2493975904 + 1410.9682352941 = $5,569 Mil.
Gross Profit was 445.2104622871 + 421.28928571429 + 469.04337349398 + 478.58117647059 = $1,814 Mil.
Average Total Assets from the begining of this year (Sep20)
to the end of this year (Sep21) was
(6642.0765606596 + 6918.3771289538 + 6743.2488095238 + 6748.9975903614 + 6799.8541176471) / 5 = $6770.51084143 Mil.
Total Assets at the begining of this year (Sep20) was $6,642 Mil.
Long-Term Debt & Capital Lease Obligation was $0 Mil.
Total Current Assets was $3,483 Mil.
Total Current Liabilities was $2,557 Mil.
Net Income was -317.75444444444 + 32.961325966851 + 50.935810810811 + 51.096584216726 = $-183 Mil.

Revenue was 1489.3366666667 + 1208.6651933702 + 1311.4065315315 + 1349.6713780919 = $5,359 Mil.
Gross Profit was 410.93666666667 + 368.43204419889 + 401.47747747748 + 424.24146054181 = $1,605 Mil.
Average Total Assets from the begining of last year (Sep19)
to the end of last year (Sep20) was
(6618.172907489 + 6345.0833333333 + 6254.6729281768 + 6403.5304054054 + 6642.0765606596) / 5 = $6452.70722701 Mil.
Total Assets at the begining of last year (Sep19) was $6,618 Mil.
Long-Term Debt & Capital Lease Obligation was $0 Mil.
Total Current Assets was $3,217 Mil.
Total Current Liabilities was $2,329 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.

GEA Group AG's current Net Income (TTM) was 229. ==> 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.

GEA Group AG's current Cash Flow from Operations (TTM) was 875. ==> 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 (Sep20)
=229.28937247118/6642.0765606596
=0.03452074

ROA (Last Year)=Net Income/Total Assets (Sep19)
=-182.76072345006/6618.172907489
=-0.02761498

GEA Group AG's return on assets of this year was 0.03452074. GEA Group AG's return on assets of last year was -0.02761498. ==> 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.

GEA Group AG's current Net Income (TTM) was 229. GEA Group AG's current Cash Flow from Operations (TTM) was 875. ==> 875 > 229 ==> 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: Sep21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep20 to Sep21
=0/6770.51084143
=0

Gearing (Last Year: Sep20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep19 to Sep20
=0/6452.70722701
=0

GEA Group AG's gearing of this year was 0. GEA Group AG's gearing of last year was 0. ==> 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: Sep21)=Total Current Assets/Total Current Liabilities
=3483.0011764706/2556.8058823529
=1.36224701

Current Ratio (Last Year: Sep20)=Total Current Assets/Total Current Liabilities
=3217.038869258/2329.4617196702
=1.38102242

GEA Group AG's current ratio of this year was 1.36224701. GEA Group AG's current ratio of last year was 1.38102242. ==> 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.

GEA Group AG's number of shares in issue this year was 180.3. GEA Group AG's number of shares in issue last year was 180.5. ==> 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
=1814.124297966/5568.8998800169
=0.32575991

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1605.0876488849/5359.0797696602
=0.29950807

GEA Group AG's gross margin of this year was 0.32575991. GEA Group AG's gross margin of last year was 0.29950807. ==> 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 (Sep20)
=5568.8998800169/6642.0765606596
=0.83842754

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep19)
=5359.0797696602/6618.172907489
=0.80975215

GEA Group AG's asset turnover of this year was 0.83842754. GEA Group AG's asset turnover of last year was 0.80975215. ==> 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+1+1+1
=8

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

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

GEA Group AG  (OTCPK:GEAGF) 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.


GEA Group AG Piotroski F-Score Related Terms

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GEA Group AG Business Description

GEA Group AG logo
Industry
Industrials » Industrial Products NAICS : 333999 SIC : 3559
Traded in Other Exchanges
Address
Peter-Muller-Strasse 12, Dusseldorf, DEU, 40468
GEA is an expert in food processing. It manufactures equipment for separation, fluid handling, dairy processing, and dairy farming, and designs and constructs process lines or entire plants for customers. Based in Germany, the company is a global market leader, with number-one or number-two positions in its markets. Its separators are used in hundreds of different, tailored applications. Every fourth litre of milk, third instant coffee line, third chicken nugget, and second litre of beer globally is processed using the company's specialised equipment.
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