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Sanofi (XTER:SNW) Piotroski F-Score : 5 (As of Dec. 13, 2024)


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What is Sanofi 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

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

XTER:SNW' 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 Sanofi was 8. The lowest was 4. And the median was 6.


Sanofi Piotroski F-Score Historical Data

The historical data trend for Sanofi'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.

Sanofi Piotroski F-Score Chart

Sanofi 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 5.00 6.00 8.00 5.00

Sanofi 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 Sanofi's Piotroski F-Score

For the Drug Manufacturers - General subindustry, Sanofi'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.


Sanofi's Piotroski F-Score Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Sanofi's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Sanofi'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 €5,400 Mil.
Cash Flow from Operations was €10,258 Mil.
Revenue was €46,444 Mil.
Gross Profit was €32,208 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (126722 + 126464) / 2 = €126593 Mil.
Total Assets at the begining of this year (Dec22) was €126,722 Mil.
Long-Term Debt & Capital Lease Obligation was €16,102 Mil.
Total Current Assets was €30,670 Mil.
Total Current Liabilities was €24,207 Mil.
Net Income was €8,371 Mil.

Revenue was €45,389 Mil.
Gross Profit was €31,694 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (120242 + 126722) / 2 = €123482 Mil.
Total Assets at the begining of last year (Dec21) was €120,242 Mil.
Long-Term Debt & Capital Lease Obligation was €16,761 Mil.
Total Current Assets was €34,111 Mil.
Total Current Liabilities was €23,974 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.

Sanofi's current Net Income (TTM) was 5,400. ==> 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.

Sanofi's current Cash Flow from Operations (TTM) was 10,258. ==> 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)
=5400/126722
=0.04261296

ROA (Last Year)=Net Income/Total Assets (Dec21)
=8371/120242
=0.06961794

Sanofi's return on assets of this year was 0.04261296. Sanofi's return on assets of last year was 0.06961794. ==> 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.

Sanofi's current Net Income (TTM) was 5,400. Sanofi's current Cash Flow from Operations (TTM) was 10,258. ==> 10,258 > 5,400 ==> 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
=16102/126593
=0.12719503

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=16761/123482
=0.13573638

Sanofi's gearing of this year was 0.12719503. Sanofi's gearing of last year was 0.13573638. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=30670/24207
=1.26698889

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=34111/23974
=1.42283307

Sanofi's current ratio of this year was 1.26698889. Sanofi's current ratio of last year was 1.42283307. ==> 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.

Sanofi's number of shares in issue this year was 1256.4. Sanofi's number of shares in issue last year was 1256.9. ==> 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
=32208/46444
=0.69348032

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=31694/45389
=0.69827491

Sanofi's gross margin of this year was 0.69348032. Sanofi's gross margin of last year was 0.69827491. ==> Last year's gross margin is higher ==> Score 0.

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)
=46444/126722
=0.36650305

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=45389/120242
=0.37748041

Sanofi's asset turnover of this year was 0.36650305. Sanofi's asset turnover of last year was 0.37748041. ==> Last year's asset turnover is higher ==> Score 0.

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+1+0+1+0+0
=5

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

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

Sanofi  (XTER:SNW) 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.


Sanofi Piotroski F-Score Related Terms

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Sanofi Business Description

Address
46, avenue de la Great Army, Paris, FRA, 75017
Sanofi develops and markets drugs with a concentration in oncology, immunology, cardiovascular disease, diabetes, over-the-counter treatments and vaccines. However, the company's decision in late 2019 to pull back from the cardio-metabolic area will likely reduce the firm's footprint in this large therapeutic area. The company offers a diverse array of drugs with its highest revenue generator, Dupixent, representing just over 20% of total sales, but profits are shared with Regeneron. Just over 40% of total revenue comes from the United States and 25% from Europe. Emerging markets represent the majority of the remainder of revenue.

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