GURUFOCUS.COM » STOCK LIST » Industrials » Construction » EMCOR Group Inc (STU:EM4) » Definitions » Piotroski F-Score

EMCOR Group (STU:EM4) Piotroski F-Score : 9 (As of Dec. 14, 2024)


View and export this data going back to 2017. Start your Free Trial

What is EMCOR Group Piotroski F-Score?

Good Sign:

Piotroski F-Score is 9, 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

EMCOR Group has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

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

STU:EM4' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 7   Max: 9
Current: 9

During the past 13 years, the highest Piotroski F-Score of EMCOR Group was 9. The lowest was 5. And the median was 7.


EMCOR Group Piotroski F-Score Historical Data

The historical data trend for EMCOR Group'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.

EMCOR Group Piotroski F-Score Chart

EMCOR Group 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 7.00 6.00 6.00 9.00

EMCOR Group 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 8.00 9.00 8.00 8.00 9.00

Competitive Comparison of EMCOR Group's Piotroski F-Score

For the Engineering & Construction subindustry, EMCOR Group'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.


EMCOR Group's Piotroski F-Score Distribution in the Construction Industry

For the Construction industry and Industrials sector, EMCOR Group's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where EMCOR Group'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 193.961 + 181.377 + 229.994 + 243.507 = €849 Mil.
Cash Flow from Operations was 388.586 + 121.683 + 259.836 + 474.326 = €1,244 Mil.
Revenue was 3153.766 + 3157.694 + 3406.547 + 3330.929 = €13,049 Mil.
Gross Profit was 566.472 + 542.164 + 635.437 + 661.988 = €2,406 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(5832.069 + 6061.114 + 6152.341 + 6570.398 + 6597.079) / 5 = €6242.6002 Mil.
Total Assets at the begining of this year (Sep23) was €5,832 Mil.
Long-Term Debt & Capital Lease Obligation was €243 Mil.
Total Current Assets was €4,511 Mil.
Total Current Liabilities was €3,537 Mil.
Net Income was 119.227 + 104.116 + 129.769 + 158.736 = €512 Mil.

Revenue was 2784.632 + 2699.663 + 2811.109 + 3005.519 = €11,301 Mil.
Gross Profit was 429.331 + 407.282 + 452.325 + 511.107 = €1,800 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(5493.116 + 5215.229 + 5268.61 + 5452.778 + 5832.069) / 5 = €5452.3604 Mil.
Total Assets at the begining of last year (Sep22) was €5,493 Mil.
Long-Term Debt & Capital Lease Obligation was €331 Mil.
Total Current Assets was €3,813 Mil.
Total Current Liabilities was €3,029 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.

EMCOR Group's current Net Income (TTM) was 849. ==> 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.

EMCOR Group's current Cash Flow from Operations (TTM) was 1,244. ==> 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)
=848.839/5832.069
=0.1455468

ROA (Last Year)=Net Income/Total Assets (Sep22)
=511.848/5493.116
=0.0931799

EMCOR Group's return on assets of this year was 0.1455468. EMCOR Group's return on assets of last year was 0.0931799. ==> 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.

EMCOR Group's current Net Income (TTM) was 849. EMCOR Group's current Cash Flow from Operations (TTM) was 1,244. ==> 1,244 > 849 ==> 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
=242.835/6242.6002
=0.03889966

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=331.497/5452.3604
=0.06079881

EMCOR Group's gearing of this year was 0.03889966. EMCOR Group's gearing of last year was 0.06079881. ==> 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
=4510.78/3536.63
=1.27544583

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=3812.555/3029.135
=1.25862829

EMCOR Group's current ratio of this year was 1.27544583. EMCOR Group's current ratio of last year was 1.25862829. ==> 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.

EMCOR Group's number of shares in issue this year was 46.589. EMCOR Group's number of shares in issue last year was 47.398. ==> 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
=2406.061/13048.936
=0.18438752

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1800.045/11300.923
=0.15928301

EMCOR Group's gross margin of this year was 0.18438752. EMCOR Group's gross margin of last year was 0.15928301. ==> 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)
=13048.936/5832.069
=2.23744541

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=11300.923/5493.116
=2.05728825

EMCOR Group's asset turnover of this year was 2.23744541. EMCOR Group's asset turnover of last year was 2.05728825. ==> 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+1+1+1+1
=9

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

EMCOR Group has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

EMCOR Group  (STU:EM4) 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.


EMCOR Group Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of EMCOR Group's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


EMCOR Group Business Description

Traded in Other Exchanges
Address
301 Merritt Seven, Norwalk, CT, USA, 06851-1092
EMCOR Group Inc is a specialty contractor in the United States and a provider of electrical and mechanical construction and facilities services, building services, and industrial services. Its services are provided to a broad range of commercial, technology, manufacturing, industrial, healthcare, utility, and institutional customers through approximately 100 operating subsidiaries. The company's operating subsidiaries are organized into reportable segments: United States electrical construction and facilities services, United States mechanical construction and facilities services, United States building services, United States industrial services, and United Kingdom building services. Geographically the majority of revenue is generated from the United States.

EMCOR Group Headlines

No Headlines