GURUFOCUS.COM » STOCK LIST » Financial Services » Credit Services » Edenred SE (WBO:EDEN) » Definitions » Piotroski F-Score

Edenred SE (WBO:EDEN) Piotroski F-Score : 5 (As of Dec. 11, 2024)


View and export this data going back to 2020. Start your Free Trial

What is Edenred SE 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

Edenred SE has an F-score of 5 indicating the company's financial situation is typical for a stable company.

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

WBO:EDEN' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 5

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


Edenred SE Piotroski F-Score Historical Data

The historical data trend for Edenred SE'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.

Edenred SE Piotroski F-Score Chart

Edenred SE 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 7.00 4.00 8.00 8.00 5.00

Edenred SE Semi-Annual Data
Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24
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 - 5.00 -

Competitive Comparison of Edenred SE's Piotroski F-Score

For the Credit Services subindustry, Edenred SE'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.


Edenred SE's Piotroski F-Score Distribution in the Credit Services Industry

For the Credit Services industry and Financial Services sector, Edenred SE's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Edenred SE'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 (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was €267 Mil.
Cash Flow from Operations was €1,052 Mil.
Revenue was €2,514 Mil.
Gross Profit was €1,556 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (11174 + 13295) / 2 = €12234.5 Mil.
Total Assets at the begining of this year (Dec22) was €11,174 Mil.
Long-Term Debt & Capital Lease Obligation was €3,627 Mil.
Total Current Assets was €8,901 Mil.
Total Current Liabilities was €9,722 Mil.
Net Income was €386 Mil.

Revenue was €2,031 Mil.
Gross Profit was €1,240 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (10323 + 11174) / 2 = €10748.5 Mil.
Total Assets at the begining of last year (Dec21) was €10,323 Mil.
Long-Term Debt & Capital Lease Obligation was €2,841 Mil.
Total Current Assets was €8,443 Mil.
Total Current Liabilities was €8,498 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.

Edenred SE's current Net Income (TTM) was 267. ==> 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.

Edenred SE's current Cash Flow from Operations (TTM) was 1,052. ==> 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 (Dec22)
=267/11174
=0.02389476

ROA (Last Year)=Net Income/Total Assets (Dec21)
=386/10323
=0.03739223

Edenred SE's return on assets of this year was 0.02389476. Edenred SE's return on assets of last year was 0.03739223. ==> 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.

Edenred SE's current Net Income (TTM) was 267. Edenred SE's current Cash Flow from Operations (TTM) was 1,052. ==> 1,052 > 267 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=3627/12234.5
=0.29645674

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=2841/10748.5
=0.26431595

Edenred SE's gearing of this year was 0.29645674. Edenred SE's gearing of last year was 0.26431595. ==> Last year is lower than this year ==> Score 0.

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: Dec23)=Total Current Assets/Total Current Liabilities
=8901/9722
=0.91555236

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=8443/8498
=0.99352789

Edenred SE's current ratio of this year was 0.91555236. Edenred SE's current ratio of last year was 0.99352789. ==> 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.

Edenred SE's number of shares in issue this year was 264.473. Edenred SE's number of shares in issue last year was 264.349. ==> 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
=1556/2514
=0.61893397

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1240/2031
=0.61053668

Edenred SE's gross margin of this year was 0.61893397. Edenred SE's gross margin of last year was 0.61053668. ==> 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 (Dec22)
=2514/11174
=0.22498658

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=2031/10323
=0.19674513

Edenred SE's asset turnover of this year was 0.22498658. Edenred SE's asset turnover of last year was 0.19674513. ==> 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+0+0+0+1+1
=5

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

Edenred SE has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Edenred SE  (WBO:EDEN) 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.


Edenred SE Piotroski F-Score Related Terms

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


Edenred SE Business Description

Address
14-16 Boulevard Garibaldi, Issy-les-Moulineaux, Paris, FRA, 92130
Edenred is a France-listed prepaid corporate services provider operating in 45 countries. The company was listed in 2010 following a spinoff from hotel group Accor. Edenred's main business, Ticket Restaurant, offers prepaid meal vouchers that employers provide to their employees as an additional benefit. The company is also involved in other areas such as prepaid fuel cards and payment and expense-management systems. Edenred is also moving "beyond" its historical services, adding wellbeing, gift, EV, toll and business to business accounts payable automation services.