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UEIC (Universal Electronics) Piotroski F-Score : 6 (As of Mar. 20, 2025)


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What is Universal Electronics 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

Universal Electronics 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 Universal Electronics's Piotroski F-Score or its related term are showing as below:

UEIC' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 6

During the past 13 years, the highest Piotroski F-Score of Universal Electronics was 8. The lowest was 3. And the median was 6.


Universal Electronics Piotroski F-Score Historical Data

The historical data trend for Universal Electronics'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.

Universal Electronics Piotroski F-Score Chart

Universal Electronics 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 8.00 6.00 5.00 3.00 6.00

Universal Electronics 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 3.00 4.00 6.00 6.00 6.00

Competitive Comparison of Universal Electronics's Piotroski F-Score

For the Consumer Electronics subindustry, Universal Electronics'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.


Universal Electronics's Piotroski F-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Universal Electronics's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Universal Electronics'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 -8.649 + -8.193 + -2.658 + -4.529 = $-24.0 Mil.
Cash Flow from Operations was -2.775 + 5.45 + 5.664 + 6.483 = $14.8 Mil.
Revenue was 91.9 + 90.452 + 102.073 + 110.454 = $394.9 Mil.
Gross Profit was 25.988 + 25.952 + 30.732 + 31.322 = $114.0 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(355.872 + 322.941 + 314.003 + 321.255 + 323.354) / 5 = $327.485 Mil.
Total Assets at the begining of this year (Dec23) was $355.9 Mil.
Long-Term Debt & Capital Lease Obligation was $9.2 Mil.
Total Current Assets was $242.5 Mil.
Total Current Liabilities was $158.3 Mil.
Net Income was -61.363 + -10.411 + -19.362 + -7.102 = $-98.2 Mil.

Revenue was 108.377 + 107.391 + 107.095 + 97.594 = $420.5 Mil.
Gross Profit was 24.693 + 24.617 + 20.412 + 27.838 = $97.6 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(504.163 + 416.967 + 391.941 + 378.34 + 355.872) / 5 = $409.4566 Mil.
Total Assets at the begining of last year (Dec22) was $504.2 Mil.
Long-Term Debt & Capital Lease Obligation was $12.6 Mil.
Total Current Assets was $258.9 Mil.
Total Current Liabilities was $161.1 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.

Universal Electronics's current Net Income (TTM) was -24.0. ==> Negative ==> Score 0.

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.

Universal Electronics's current Cash Flow from Operations (TTM) was 14.8. ==> 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)
=-24.029/355.872
=-0.06752147

ROA (Last Year)=Net Income/Total Assets (Dec22)
=-98.238/504.163
=-0.19485365

Universal Electronics's return on assets of this year was -0.06752147. Universal Electronics's return on assets of last year was -0.19485365. ==> 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.

Universal Electronics's current Net Income (TTM) was -24.0. Universal Electronics's current Cash Flow from Operations (TTM) was 14.8. ==> 14.8 > -24.0 ==> 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
=9.232/327.485
=0.0281906

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=12.56/409.4566
=0.0306748

Universal Electronics's gearing of this year was 0.0281906. Universal Electronics's gearing of last year was 0.0306748. ==> 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
=242.494/158.291
=1.53195065

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=258.851/161.148
=1.60629359

Universal Electronics's current ratio of this year was 1.53195065. Universal Electronics's current ratio of last year was 1.60629359. ==> 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.

Universal Electronics's number of shares in issue this year was 13.031. Universal Electronics's number of shares in issue last year was 12.903. ==> 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
=113.994/394.879
=0.28868084

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=97.56/420.457
=0.23203324

Universal Electronics's gross margin of this year was 0.28868084. Universal Electronics's gross margin of last year was 0.23203324. ==> 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 (Dec23)
=394.879/355.872
=1.10960963

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=420.457/504.163
=0.83397036

Universal Electronics's asset turnover of this year was 1.10960963. Universal Electronics's asset turnover of last year was 0.83397036. ==> 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
=0+1+1+1+1+0+0+1+1
=6

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

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

Universal Electronics  (NAS:UEIC) 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.


Universal Electronics Piotroski F-Score Related Terms

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Universal Electronics Business Description

Traded in Other Exchanges
Address
15147 N. Scottsdale Road, Suite H300, Scottsdale, AZ, USA, 85254-2494
Universal Electronics Inc is a United States-based company that principally designs, develops, manufactures, ships, and supports control and sensor technology solutions and a broad line of universal control systems, audio-video (AV) accessories, wireless security, and smart home products that are used by the world's brands in the video services, consumer electronics, security, home automation, climate control and home appliance markets. It generates its total revenue from the United States.
Executives
Paul D Arling director, officer: CEO 201 EAST SANDPOINTE, 8TH FLOOR, SANTA ANA CA 92707
Edward K Zinser director 201 EAST SANDPOINTE, 8TH FLOOR, SANTA ANA CA 92707
Toro 18 Holdings Llc 10 percent owner 2999 N.E. 191ST STREET, SUITE 610, AVENTURA FL 33180
Eric Singer 10 percent owner 323 SUNNY ISLES BLVD., SUITE 700, SUNNY ISLES BEACH FL 33160
William C Martin 10 percent owner C/O RAGING CAPITAL MANAGEMENT, LLC, TEN PRINCETON AVENUE, PO BOX 228, ROCKY HILL NJ 08553
Immersion Corp 10 percent owner 2999 N. E. 191ST STREET, SUITE 610, AVENTURA FL 33180
Bryan M Hackworth officer: Vice President and CFO 201 EAST SANDPOINTE, 8TH FLOOR, SANTA ANA CA 92707
Chong David Cheung Hyen officer: Executive Vice President -Asia 201 EAST SANDPOINTE AVENUE, 8TH FLOOR, SANTA ANA CA 92707
Romulo Pontual director 15147 N SCOTTSDALE ROAD, SUITE H300, SCOTTSDALE AZ 85254
William C Mulligan director 201 EAST SANDPOINTE, 8TH FLOOR, SANTA ANA CA 92707
Richard K Carnifax officer: V.P. Global Operations 15147 N. SCOTTSDALE ROAD, SUITE H300, SCOTTSDALE AZ 85254
Satjiv S Chahil director 201 EAST SANDPOINTE, 8TH FLOOR, SANTA ANA CA 92707
Firehammer Richard A Jr officer: Senior Vice Presiden 201 E. SANDPOINTE AVENUE, 8TH FLOOR, SANTA ANA CA 92707
Ramzi Ammari officer: Sr.VP Corp Planning & Strategy 15147 N. SCOTTSDALE ROAD, SCOTTSDALE AZ 85268
Joseph Miketo officer: Sr. VP Operations 15147 N. SCOTTSDALE ROAD, SCOTTSDALE AZ 85254