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ESP (Espey Manufacturing & Electronics) Piotroski F-Score : 6 (As of Oct. 31, 2024)


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What is Espey Manufacturing & 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

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

ESP' 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 Espey Manufacturing & Electronics was 8. The lowest was 3. And the median was 6.


Espey Manufacturing & Electronics Piotroski F-Score Historical Data

The historical data trend for Espey Manufacturing & 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.

Espey Manufacturing & Electronics Piotroski F-Score Chart

Espey Manufacturing & Electronics Annual Data
Trend Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 3.00 8.00 7.00 6.00

Espey Manufacturing & Electronics Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 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 7.00 6.00 6.00 5.00 6.00

Competitive Comparison of Espey Manufacturing & Electronics's Piotroski F-Score

For the Electrical Equipment & Parts subindustry, Espey Manufacturing & 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.


Espey Manufacturing & Electronics's Piotroski F-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Espey Manufacturing & Electronics's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Espey Manufacturing & 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 (Jun24) TTM:Last Year (Jun23) TTM:
Net Income was 1.095 + 1.795 + 1.032 + 1.893 = $5.82 Mil.
Cash Flow from Operations was 2.615 + 3.324 + 1.412 + 3.245 = $10.60 Mil.
Revenue was 8.568 + 10.303 + 8.255 + 11.611 = $38.74 Mil.
Gross Profit was 2.245 + 3.143 + 2.064 + 3.201 = $10.65 Mil.
Average Total Assets from the begining of this year (Jun23)
to the end of this year (Jun24) was
(47.502 + 49.391 + 50.363 + 53.138 + 56.543) / 5 = $51.3874 Mil.
Total Assets at the begining of this year (Jun23) was $47.50 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Total Current Assets was $53.24 Mil.
Total Current Liabilities was $15.27 Mil.
Net Income was 0.768 + 1.146 + 0.867 + 0.896 = $3.68 Mil.

Revenue was 8.636 + 8.804 + 9.81 + 8.343 = $35.59 Mil.
Gross Profit was 1.812 + 2.261 + 1.973 + 2.004 = $8.05 Mil.
Average Total Assets from the begining of last year (Jun22)
to the end of last year (Jun23) was
(39.897 + 41.06 + 44.597 + 46.565 + 47.502) / 5 = $43.9242 Mil.
Total Assets at the begining of last year (Jun22) was $39.90 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Total Current Assets was $44.68 Mil.
Total Current Liabilities was $11.48 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.

Espey Manufacturing & Electronics's current Net Income (TTM) was 5.82. ==> 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.

Espey Manufacturing & Electronics's current Cash Flow from Operations (TTM) was 10.60. ==> 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 (Jun23)
=5.815/47.502
=0.1224159

ROA (Last Year)=Net Income/Total Assets (Jun22)
=3.677/39.897
=0.09216232

Espey Manufacturing & Electronics's return on assets of this year was 0.1224159. Espey Manufacturing & Electronics's return on assets of last year was 0.09216232. ==> 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.

Espey Manufacturing & Electronics's current Net Income (TTM) was 5.82. Espey Manufacturing & Electronics's current Cash Flow from Operations (TTM) was 10.60. ==> 10.60 > 5.82 ==> 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: Jun24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun23 to Jun24
=0/51.3874
=0

Gearing (Last Year: Jun23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun22 to Jun23
=0/43.9242
=0

Espey Manufacturing & Electronics's gearing of this year was 0. Espey Manufacturing & Electronics's gearing of last year was 0. ==> 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: Jun24)=Total Current Assets/Total Current Liabilities
=53.237/15.269
=3.48660685

Current Ratio (Last Year: Jun23)=Total Current Assets/Total Current Liabilities
=44.676/11.484
=3.89028213

Espey Manufacturing & Electronics's current ratio of this year was 3.48660685. Espey Manufacturing & Electronics's current ratio of last year was 3.89028213. ==> 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.

Espey Manufacturing & Electronics's number of shares in issue this year was 2.589. Espey Manufacturing & Electronics's number of shares in issue last year was 2.501. ==> 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
=10.653/38.737
=0.27500839

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=8.05/35.593
=0.22616807

Espey Manufacturing & Electronics's gross margin of this year was 0.27500839. Espey Manufacturing & Electronics's gross margin of last year was 0.22616807. ==> 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 (Jun23)
=38.737/47.502
=0.81548145

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun22)
=35.593/39.897
=0.89212221

Espey Manufacturing & Electronics's asset turnover of this year was 0.81548145. Espey Manufacturing & Electronics's asset turnover of last year was 0.89212221. ==> 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+1+1+1+0+0+1+0
=6

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

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

Espey Manufacturing & Electronics  (AMEX:ESP) 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.


Espey Manufacturing & Electronics Piotroski F-Score Related Terms

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Espey Manufacturing & Electronics Business Description

Traded in Other Exchanges
N/A
Address
233 Ballston Avenue, Saratoga Springs, NY, USA, 12866
Espey Manufacturing & Electronics Corp designs, develops, tests, and manufactures specialized military and rugged industrial power supplies and transformers for use in harsh or severe environment applications. Its products and solutions include power converters, power conditioning, high-voltage radar, contract manufacturing, custom engineering, and others. The applications of these products include AC and DC locomotives, shipboard power, shipboard radar, airborne power, ground-based radar, and ground mobile power.
Executives
Peggy A Murphy officer: Corporate Secretary 91 FEEDER DAM RD, S GLENSFALLS NY 12803
Nancy Koskey Patzwahl director 81 OLD LANE, CLAVERACK NY 12513
Katrina Leonore Sparano officer: Assistant Treasurer 670 ACLAND BLVD., BALLSTON SPA NY 12020
Howard M Pinsley director, officer: President/CEO, other: Chairman of the Board 233 BALLSTON AVE., SARATOGA SPRINGS NY 12866
Barry Pinsley director 6101 PELICAN BAY BLVD., NAPLES FL 34108
Alvin O Sabo director 51 ISLAND VIEW ROAD, COHOES NY 12047
Paul J Corr director 87 RAILROAD PLACE, UNIT 306, SARATOGA SPRINGS NY 12866
David A Oneil officer: Treasurer 14 BRIDGET CIRCLE, COHOES NY 12047
Sexauer Roger Nicholas Ii director 2820 BENNETT POINT RD., QUEENSTOWN MD 21658
Carl Helmetag director 330 SEA VIEW, RIVERSIDE RI 02915
Enright Patrick Thomas Jr. director, officer: President and CEO 3111 SQUAW CREEK TRAIL, BALLSTON SPA NY 12020
Michael W Wool director 131 HILLS POINT RD, CHARLOTTE VT 05402
St Pierre Mark Francis officer: President 13 SECLUDED RIDGE, SOUTHWICK MA 01077
Espey Mfg. & Electronics Corp. Employee Retirement Plan & Trust 10 percent owner, other: Retirement Plan Trust 233 BALLSTON AVE., SARATOGA SPRINGS NY 12866
Seymour Saslow director 199 CAROLINE ST, SARATOGA SPRINGS NY 12866