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Good Sign:
Piotroski F-Score is 7, 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
Weatherford International has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Weatherford International's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Weatherford International was 8. The lowest was 2. And the median was 4.
The historical data trend for Weatherford International'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.
Weatherford International Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 6.00 | 5.00 | 6.00 | 7.00 | 8.00 |
Weatherford International Quarterly Data | ||||||||||||||||||||
Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
Piotroski F-Score | Get a 7-Day Free Trial | 7.00 | 8.00 | 7.00 | 8.00 | 7.00 |
For the Oil & Gas Equipment & Services subindustry, Weatherford 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.
For the Oil & Gas industry and Energy sector, Weatherford International's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Weatherford 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.
This Year (Mar24) TTM: | Last Year (Mar23) TTM: |
Net Income was 82 + 123 + 140 + 112 = $457 Mil. Cash Flow from Operations was 201 + 172 + 375 + 131 = $879 Mil. Revenue was 1274 + 1313 + 1362 + 1358 = $5,307 Mil. Gross Profit was 427 + 454 + 463 + 474 = $1,818 Mil. Average Total Assets from the begining of this year (Mar23) to the end of this year (Mar24) was (4709 + 4648 + 4895 + 5068 + 5090) / 5 = $4882 Mil. Total Assets at the begining of this year (Mar23) was $4,709 Mil. Long-Term Debt & Capital Lease Obligation was $1,753 Mil. Total Current Assets was $3,312 Mil. Total Current Liabilities was $1,800 Mil. |
Net Income was 6 + 28 + 72 + 72 = $178 Mil. Revenue was 1064 + 1120 + 1209 + 1186 = $4,579 Mil. Gross Profit was 308 + 345 + 402 + 396 = $1,451 Mil. Average Total Assets from the begining of last year (Mar22) to the end of last year (Mar23) was (4684 + 4735 + 4707 + 4720 + 4709) / 5 = $4711 Mil. Total Assets at the begining of last year (Mar22) was $4,684 Mil. Long-Term Debt & Capital Lease Obligation was $2,197 Mil. Total Current Assets was $3,043 Mil. Total Current Liabilities was $1,511 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.
Weatherford International's current Net Income (TTM) was 457.
==> 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.
Weatherford International's current Cash Flow from Operations (TTM) was 879.
==> 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 (Mar23) |
= | 457 | / | 4709 | |
= | 0.09704821 |
ROA (Last Year) | = | Net Income | / | Total Assets (Mar22) |
= | 178 | / | 4684 | |
= | 0.03800171 |
Weatherford International's return on assets of this year was 0.09704821. Weatherford International's return on assets of last year was 0.03800171.
==> 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.
Weatherford International's current Net Income (TTM) was 457. Weatherford International's current Cash Flow from Operations (TTM) was 879.
==> 879 > 457 ==> 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: Mar24) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Mar23 to Mar24 |
= | 1753 | / | 4882 | |
= | 0.35907415 |
Gearing (Last Year: Mar23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Mar22 to Mar23 |
= | 2197 | / | 4711 | |
= | 0.46635534 |
Weatherford International's gearing of this year was 0.35907415. Weatherford International's gearing of last year was 0.46635534.
==> 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: Mar24) | = | Total Current Assets | / | Total Current Liabilities |
= | 3312 | / | 1800 | |
= | 1.84 |
Current Ratio (Last Year: Mar23) | = | Total Current Assets | / | Total Current Liabilities |
= | 3043 | / | 1511 | |
= | 2.01389808 |
Weatherford International's current ratio of this year was 1.84. Weatherford International's current ratio of last year was 2.01389808.
==> 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.
Weatherford International's number of shares in issue this year was 0. Weatherford International's number of shares in issue last year was 0.
==> 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 |
= | 1818 | / | 5307 | |
= | 0.34256642 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 1451 | / | 4579 | |
= | 0.31688142 |
Weatherford International's gross margin of this year was 0.34256642. Weatherford International's gross margin of last year was 0.31688142.
==> 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 (Mar23) |
= | 5307 | / | 4709 | |
= | 1.12699087 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Mar22) |
= | 4579 | / | 4684 | |
= | 0.97758326 |
Weatherford International's asset turnover of this year was 1.12699087. Weatherford International's asset turnover of last year was 0.97758326.
==> 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 | + | 0 | + | 1 | + | 1 | + | 1 | |
= | 8 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Weatherford International has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
Weatherford International (OTCPK:WFTLF) 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.
Thank you for viewing the detailed overview of Weatherford International's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Benjamin Duster | director | 200 E. 84ST, 8TH FLOOR, NEW YORK NY 10028 |
Christian A Garcia | officer: Chief Financial Officer | 3000 N. SAM HOUSTON PARKWAY E., BLDG. J-4, HOUSTON TX 77032 |
Frederico Justus | officer: President - Eastern Hemisphere | 2000 ST. JAMES PLACE, HOUSTON TX 77056 |
Mark D Swift | officer: President - Western Hemisphere | 2000 ST. JAMES PLACE, HOUSTON TX 77056 |
Karl Blanchard | officer: EVP and COO | 777 N.W. 63RD ST., OKLAHOMA CITY OK 73116 |
John F Glick | director | TETRA TECHNOLOGIES, INC., 24955 INTERSTATE 45 N, THE WOODLANDS TX 77380 |
Neal P Goldman | director | 10700 PARKRIDGE BLVD., RESTON VA 20191 |
Bates Thomas R Jr | director | TETRA TECHNOLOGIES, INC., 24955 INTERSTATE 45 N, THE WOODLANDS TX 77380 |
Charles M Sledge | director | 1611 SCENIC MOUNTAIN COURT, KINGWOOD TX 77345 |
Gordon T Hall | director | 3300 NORTH SAM HOUSTON PARKWAY EAST, HOUSTON TX 77032-3411 |
Jacqueline C Mutschler | director | 2000 ST. JAMES PLACE, HOUSTON TX 77056 |
Christina M Ibrahim | officer: EVP, GC, CCO & Secretary | 2000 ST. JAMES PLACE, HOUSTON TX 77056 |
Stuart Fraser | officer: Chief Accounting Officer | 2000 SAINT JAMES PLACE, HOUSTON TX 77056 |
Mark A Mccollum | director, officer: President and CEO | 3000 NORTH SAM HOUSTON PARKWAY E., HOUSTON TX 77002 |
Christoph Bausch | officer: EVP and CFO | 2000 ST. JAMES PLACE, HOUSTON TX 77056 |
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