GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Bio-Rad Laboratories Inc (NYSE:BIO) » Definitions » Piotroski F-Score

BIO (Bio-Rad Laboratories) Piotroski F-Score : 4 (As of Oct. 31, 2024)


View and export this data going back to 1980. Start your Free Trial

What is Bio-Rad Laboratories 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

Bio-Rad Laboratories 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 Bio-Rad Laboratories's Piotroski F-Score or its related term are showing as below:

BIO' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 7
Current: 4

During the past 13 years, the highest Piotroski F-Score of Bio-Rad Laboratories was 7. The lowest was 3. And the median was 6.


Bio-Rad Laboratories Piotroski F-Score Historical Data

The historical data trend for Bio-Rad Laboratories'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.

Bio-Rad Laboratories Piotroski F-Score Chart

Bio-Rad Laboratories 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 5.00 7.00 3.00 4.00 6.00

Bio-Rad Laboratories Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
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 6.00 6.00 4.00 4.00 -

Competitive Comparison of Bio-Rad Laboratories's Piotroski F-Score

For the Medical Devices subindustry, Bio-Rad Laboratories'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.


Bio-Rad Laboratories's Piotroski F-Score Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Bio-Rad Laboratories's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Bio-Rad Laboratories'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 (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was 349.708 + 383.916 + -2165.486 + 653.172 = $-779 Mil.
Cash Flow from Operations was 81.047 + 69.792 + 97.646 + 163.61 = $412 Mil.
Revenue was 681.184 + 610.82 + 638.476 + 649.729 = $2,580 Mil.
Gross Profit was 366.363 + 325.966 + 355.119 + 355.903 = $1,403 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(11895.943 + 12299.07 + 12609.893 + 9688.446 + 10603.472) / 5 = $11419.3648 Mil.
Total Assets at the begining of this year (Sep23) was $11,896 Mil.
Long-Term Debt & Capital Lease Obligation was $1,200 Mil.
Total Current Assets was $3,056 Mil.
Total Current Liabilities was $498 Mil.
Net Income was 827.734 + 68.962 + -1162.251 + 106.257 = $-159 Mil.

Revenue was 730.288 + 676.844 + 681.11 + 632.124 = $2,720 Mil.
Gross Profit was 397.097 + 362.417 + 362.483 + 335.683 = $1,458 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(12058.462 + 13501.666 + 13667.414 + 11978.229 + 11895.943) / 5 = $12620.3428 Mil.
Total Assets at the begining of last year (Sep22) was $12,058 Mil.
Long-Term Debt & Capital Lease Obligation was $1,366 Mil.
Total Current Assets was $3,147 Mil.
Total Current Liabilities was $558 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.

Bio-Rad Laboratories's current Net Income (TTM) was -779. ==> 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.

Bio-Rad Laboratories's current Cash Flow from Operations (TTM) was 412. ==> 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 (Sep23)
=-778.69/11895.943
=-0.06545845

ROA (Last Year)=Net Income/Total Assets (Sep22)
=-159.298/12058.462
=-0.01321047

Bio-Rad Laboratories's return on assets of this year was -0.06545845. Bio-Rad Laboratories's return on assets of last year was -0.01321047. ==> 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.

Bio-Rad Laboratories's current Net Income (TTM) was -779. Bio-Rad Laboratories's current Cash Flow from Operations (TTM) was 412. ==> 412 > -779 ==> 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: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=1200.062/11419.3648
=0.10509008

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=1365.879/12620.3428
=0.10822836

Bio-Rad Laboratories's gearing of this year was 0.10509008. Bio-Rad Laboratories's gearing of last year was 0.10822836. ==> 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: Sep24)=Total Current Assets/Total Current Liabilities
=3055.62/497.943
=6.1364855

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=3146.77/558.176
=5.63759459

Bio-Rad Laboratories's current ratio of this year was 6.1364855. Bio-Rad Laboratories's current ratio of last year was 5.63759459. ==> This year's current ratio is higher. ==> Score 1.

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.

Bio-Rad Laboratories's number of shares in issue this year was 27.985. Bio-Rad Laboratories's number of shares in issue last year was 29.223. ==> 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
=1403.351/2580.209
=0.54389044

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1457.68/2720.366
=0.53583966

Bio-Rad Laboratories's gross margin of this year was 0.54389044. Bio-Rad Laboratories's gross margin of last year was 0.53583966. ==> 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 (Sep23)
=2580.209/11895.943
=0.21689823

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=2720.366/12058.462
=0.22559809

Bio-Rad Laboratories's asset turnover of this year was 0.21689823. Bio-Rad Laboratories's asset turnover of last year was 0.22559809. ==> 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
=0+1+0+1+1+1+1+1+0
=6

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

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

Bio-Rad Laboratories  (NYSE:BIO) 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.


Bio-Rad Laboratories Piotroski F-Score Related Terms

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


Bio-Rad Laboratories Business Description

Traded in Other Exchanges
Address
1000 Alfred Nobel Drive, Hercules, CA, USA, 94547
Bio-Rad Laboratories, headquartered in Hercules, California, develops, manufactures, and sells products and solutions for the clinical diagnostics and life sciences markets. In clinical diagnostics (56% of sales), Bio-Rad sells test systems and specialized quality controls for clinical laboratories. In life sciences (44% of sales), it develops and manufactures instruments and reagents used in research, biopharmaceutical production, and food testing and has a leadership position in dPCR technology. The company is geographically diverse, with major markets in the Americas (42% of 2023 sales), Europe (31%), Asia (31%), and other (6%). Bio-Rad owns approximately 33% of Sartorius, a lab and bioprocessing supplier that specializes in single-use technology used in biologics manufacturing.
Executives
Tania Devilliers officer: INT PRIN ACCTG OFC C/O BIO-RAD LABORATORIES, INC., 1000 ALFRED NOBEL DRIVE, HERCULES CA 94547
Sedat Evran officer: EVP, Global Supply Chain C/O BIO-RAD LABORATORIES, INC., 1000 ALFRED NOBEL DRIVE, HERCULES CA 94547
Corey Colleen officer: EVP, Global Human Resources 1000 ALFRED NOBEL DRIVE, HERCULES CA 94547
Diane Dahowski officer: EVP, Global Supply Chain C/O BIO-RAD LABORATORIES, INC., 1000 ALFRED NOBEL DRIVE, HERCULES CA 94547
Schwartz Allison director C/O BIO-RAD LABORATORIES, INC., 1000 ALFRED NOBEL DRIVE, HERCULES CA 94547
Simon May officer: EVP, President, LSG C/O BIO-RAD LABORATORIES, INC., 1000 ALFRED NOBEL DRIVE, HERCULES CA 94547
Andrew J. Last officer: EVP, Chief Operating Officer 3420 CENTRAL EXPRESSWAY, SANTA CLARA CA 95051
Ajit Ramalingam officer: SVP, Chief Accounting Officer C/O BIO-RAD LABORATORIES, INC., 1000 ALFRED NOBEL DRIVE, HERCULES CA 94547
Ilan Daskal officer: EVP, Chief Financial Officer 1000 ALFRED NOBEL DRIVE, HERCULES CA 94547
Timothy S Ernst officer: EVP, General Counsel & Sec 1000 ALFRED NOBEL DRIVE, HERCULES CA 94547
Dara Wright officer: Executive Vice President C/O BIO-RAD LABORATORIES, INC., 1000 ALFRED NOBEL DRIVE, HERCULES CA 94547
Michael Crowley officer: EVP, GBL Commercial Operations 1000 ALFRED NOBEL DRIVE, HERCULES CA 94547
Steven D Schwartz 10 percent owner 1000 ALFRED NOBEL DRIVE, HERCULES CA 94547
Alice N Schwartz director, 10 percent owner
Norman D Schwartz director, 10 percent owner, officer: Chairman, President, and CEO 1000 ALFRED NOBEL DRIVE, HERCULES CA 94547