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SAABF (Saab AB) Piotroski F-Score : 6 (As of Mar. 25, 2025)


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What is Saab AB 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

Saab AB has an F-score of 6 indicating the company's financial situation is typical for a stable company.

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

SAABF' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 6

During the past 13 years, the highest Piotroski F-Score of Saab AB was 7. The lowest was 2. And the median was 5.


Saab AB Piotroski F-Score Historical Data

The historical data trend for Saab 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.

Saab AB Piotroski F-Score Chart

Saab 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 4.00 7.00 6.00 7.00 6.00

Saab 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 7.00 6.00 6.00 7.00 6.00

Competitive Comparison of Saab AB's Piotroski F-Score

For the Aerospace & Defense subindustry, Saab 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.


Saab AB's Piotroski F-Score Distribution in the Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, Saab AB's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Saab 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 73.958 + 95.356 + 94.437 + 130.633 = $394 Mil.
Cash Flow from Operations was -101.14 + -122.723 + 398.279 + 454.984 = $629 Mil.
Revenue was 1362.462 + 1446.553 + 1324.274 + 1898.043 = $6,031 Mil.
Gross Profit was 296.313 + 322.304 + 284.681 + 390.168 = $1,293 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(8068.067 + 8143.267 + 8362.258 + 9031.87 + 9087.21) / 5 = $8538.5344 Mil.
Total Assets at the begining of this year (Dec23) was $8,068 Mil.
Long-Term Debt & Capital Lease Obligation was $862 Mil.
Total Current Assets was $5,954 Mil.
Total Current Liabilities was $4,526 Mil.
Net Income was 69.872 + 71.872 + 58.819 + 119.229 = $320 Mil.

Revenue was 1096.284 + 1158.407 + 1039.892 + 1571.713 = $4,866 Mil.
Gross Profit was 238.825 + 256.289 + 223.82 + 342.868 = $1,062 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(6972.923 + 7303.055 + 7212.859 + 7172.254 + 8068.067) / 5 = $7345.8316 Mil.
Total Assets at the begining of last year (Dec22) was $6,973 Mil.
Long-Term Debt & Capital Lease Obligation was $877 Mil.
Total Current Assets was $5,362 Mil.
Total Current Liabilities was $3,412 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.

Saab AB's current Net Income (TTM) was 394. ==> 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.

Saab AB's current Cash Flow from Operations (TTM) was 629. ==> 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)
=394.384/8068.067
=0.04888209

ROA (Last Year)=Net Income/Total Assets (Dec22)
=319.792/6972.923
=0.04586197

Saab AB's return on assets of this year was 0.04888209. Saab AB's return on assets of last year was 0.04586197. ==> 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.

Saab AB's current Net Income (TTM) was 394. Saab AB's current Cash Flow from Operations (TTM) was 629. ==> 629 > 394 ==> 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
=861.629/8538.5344
=0.10091064

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=876.716/7345.8316
=0.11934877

Saab AB's gearing of this year was 0.10091064. Saab AB's gearing of last year was 0.11934877. ==> 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
=5953.755/4525.717
=1.31553851

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=5361.586/3412.299
=1.57125328

Saab AB's current ratio of this year was 1.31553851. Saab AB's current ratio of last year was 1.57125328. ==> 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.

Saab AB's number of shares in issue this year was 540.113. Saab AB's number of shares in issue last year was 538.631. ==> 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
=1293.466/6031.332
=0.21445777

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1061.802/4866.296
=0.21819511

Saab AB's gross margin of this year was 0.21445777. Saab AB's gross margin of last year was 0.21819511. ==> 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 (Dec23)
=6031.332/8068.067
=0.74755601

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=4866.296/6972.923
=0.69788466

Saab AB's asset turnover of this year was 0.74755601. Saab AB's asset turnover of last year was 0.69788466. ==> 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+0+1
=6

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

Saab AB has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Saab AB  (OTCPK:SAABF) 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.


Saab AB Piotroski F-Score Related Terms

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Saab AB Business Description

Address
Olof Palmes gata 17, 5th Floor, Stockholm, SWE, SE-111 22
Saab supplies products and services for military, defense, and civil security. The company operates in four segments: aeronautics, dynamics, surveillance, and Kockums. Aeronautics involves the manufacturing and support of defense and commercial aerial systems. Dynamics produces combat weapons and defense training and management systems. Surveillance supplies security services, and creates traffic management technology and aviation parts. Kockums offers solutions for naval missions. Over three fourths of Saab's sales are from the defense sector. The company sells to multiple geographic regions, but over half of its sales come from Europe.

Saab AB Headlines

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