* 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.
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Caldwell Partners International Piotroski F-Score Chart
Competitive Comparison of Caldwell Partners International's Piotroski F-Score
For the Staffing & Employment Services subindustry, Caldwell Partners International'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.
Caldwell Partners International's Piotroski F-Score Distribution in the Business Services Industry
For the Business Services industry and Industrials sector, Caldwell Partners International's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Caldwell Partners International'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.
*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.
Caldwell Partners International's current Net Income (TTM) was 4.19.
==> 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.
Caldwell Partners International's current Cash Flow from Operations (TTM) was 1.23.
==> 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.
Caldwell Partners International's return on assets of this year was 0.04947781. Caldwell Partners International's return on assets of last year was -0.10543942.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Caldwell Partners International's gearing of this year was 0.07042662. Caldwell Partners International's gearing of last year was 0.2275099.
==> 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
Caldwell Partners International's current ratio of this year was 1.30843738. Caldwell Partners International's current ratio of last year was 1.31521119.
==> 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.
Caldwell Partners International's number of shares in issue this year was 29.771. Caldwell Partners International's number of shares in issue last year was 27.13.
==> 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.
Caldwell Partners International's gross margin of this year was 0.20300398. Caldwell Partners International's gross margin of last year was 0.1658555.
==> 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
Caldwell Partners International's asset turnover of this year was 1.02961817. Caldwell Partners International's asset turnover of last year was 0.9123406.
==> 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
+
0
+
1
+
0
+
0
+
1
+
1
=
6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Caldwell Partners International has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Caldwell Partners International (TSX:CWL) 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.
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.
Caldwell Partners International Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Caldwell Partners International's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Caldwell Partners International Business Description
Caldwell Partners International Inc is a provider of executive search that specializes in the recruitment of executives for full-time and advisory roles. The company contracts with its clients, on an assignment basis providing advice on the identification, evaluation, assessment, and recommendation of qualified candidates for filling of senior executive positions. It recruits employees for various positions that include Board Services, Human Resources, Information Security, Legal, Marketing, Industrial, Insurance, Healthcare, Media, Real Estate, Technology, etc. The company operates through two segments; Caldwell and IQTalent, out of which the majority revenue is generated from Caldwell segment. The company's operations are spread across Canada, the United States, Asia Pacific, and Europe.
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