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Lifco AB (STU:1L30) Piotroski F-Score : 6 (As of Dec. 14, 2024)


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What is Lifco 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

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

STU:1L30' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 6

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


Lifco AB Piotroski F-Score Historical Data

The historical data trend for Lifco 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.

Lifco AB Piotroski F-Score Chart

Lifco AB Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 5.00 6.00 5.00 6.00

Lifco AB Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
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 5.00 6.00 6.00 6.00 6.00

Competitive Comparison of Lifco AB's Piotroski F-Score

For the Conglomerates subindustry, Lifco 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.


Lifco AB's Piotroski F-Score Distribution in the Conglomerates Industry

For the Conglomerates industry and Industrials sector, Lifco AB's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Lifco 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 (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was 79.921 + 60.884 + 79.727 + 65.446 = €286 Mil.
Cash Flow from Operations was 134.185 + 55.759 + 96.559 + 106.58 = €393 Mil.
Revenue was 575.628 + 530.723 + 595.74 + 553.337 = €2,255 Mil.
Gross Profit was 256.57 + 235.141 + 266.112 + 241.876 = €1,000 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(2849.596 + 3065.517 + 3138.832 + 3318.604 + 3312.181) / 5 = €3136.946 Mil.
Total Assets at the begining of this year (Sep23) was €2,850 Mil.
Long-Term Debt & Capital Lease Obligation was €282 Mil.
Total Current Assets was €916 Mil.
Total Current Liabilities was €1,079 Mil.
Net Income was 68.312 + 69.718 + 73.28 + 62.806 = €274 Mil.

Revenue was 545.952 + 531.266 + 531.905 + 494.501 = €2,104 Mil.
Gross Profit was 233.044 + 232.602 + 233.469 + 220.962 = €920 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(2707.164 + 2708.019 + 2863.703 + 2942.276 + 2849.596) / 5 = €2814.1516 Mil.
Total Assets at the begining of last year (Sep22) was €2,707 Mil.
Long-Term Debt & Capital Lease Obligation was €278 Mil.
Total Current Assets was €826 Mil.
Total Current Liabilities was €902 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.

Lifco AB's current Net Income (TTM) was 286. ==> 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.

Lifco AB's current Cash Flow from Operations (TTM) was 393. ==> 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 (Sep23)
=285.978/2849.596
=0.10035738

ROA (Last Year)=Net Income/Total Assets (Sep22)
=274.116/2707.164
=0.10125578

Lifco AB's return on assets of this year was 0.10035738. Lifco AB's return on assets of last year was 0.10125578. ==> 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.

Lifco AB's current Net Income (TTM) was 286. Lifco AB's current Cash Flow from Operations (TTM) was 393. ==> 393 > 286 ==> 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: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=282.218/3136.946
=0.08996585

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=278.358/2814.1516
=0.09891365

Lifco AB's gearing of this year was 0.08996585. Lifco AB's gearing of last year was 0.09891365. ==> 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: Sep24)=Total Current Assets/Total Current Liabilities
=915.974/1079.192
=0.84875907

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=825.606/901.599
=0.91571308

Lifco AB's current ratio of this year was 0.84875907. Lifco AB's current ratio of last year was 0.91571308. ==> 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.

Lifco AB's number of shares in issue this year was 453.049. Lifco AB's number of shares in issue last year was 455.828. ==> 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
=999.699/2255.428
=0.44324137

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=920.077/2103.624
=0.43737712

Lifco AB's gross margin of this year was 0.44324137. Lifco AB's gross margin of last year was 0.43737712. ==> 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 (Sep23)
=2255.428/2849.596
=0.79149044

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=2103.624/2707.164
=0.77705821

Lifco AB's asset turnover of this year was 0.79149044. Lifco AB's asset turnover of last year was 0.77705821. ==> 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+0+1+1+0+1+1+1
=7

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

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

Lifco AB  (STU:1L30) 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.


Lifco AB Piotroski F-Score Related Terms

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Lifco AB Business Description

Traded in Other Exchanges
Address
Verkmastaregatan 1, Enkoping, SWE, SE-745 85
Lifco AB owns niche subsidiaries in a variety of industries, with a focus on three business areas: dental, demolition and tools, and systems solutions. The dental business supplies consumables, equipment, and technical service to dentists. The demolition and tools business manufactures and sells equipment for the construction and demolition industry, including demolition robots and crane attachments. The systems solutions business provides interiors for service vehicles, contract manufacturing, environmental technology, sawmill equipment, and construction materials. The Group's material revenue streams arising from the sale of goods comprise sales of dental products, tools and machinery, infrastructure products, environmental technology, special products and transportation products.

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