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The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Mativ Holdings 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 Mativ Holdings's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Mativ Holdings was 7. The lowest was 2. And the median was 5.
The historical data trend for Mativ Holdings'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.
Mativ Holdings 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 | 3.00 | 4.00 | 5.00 |
Mativ Holdings 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 | 4.00 | 4.00 | 5.00 | 5.00 | 6.00 |
For the Specialty Chemicals subindustry, Mativ Holdings'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 Chemicals industry and Basic Materials sector, Mativ Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Mativ Holdings'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 -4.5 + -455 + 157.7 + -28 = $-330 Mil. Cash Flow from Operations was 40.2 + 32.9 + 54.2 + -13 = $114 Mil. Revenue was 668.3 + 498.2 + 452.3 + 500.2 = $2,119 Mil. Gross Profit was 128.5 + 86.7 + 85.9 + 84 = $385 Mil. Average Total Assets from the begining of this year (Mar23) to the end of this year (Mar24) was (3674.8 + 3648.9 + 3117.8 + 2642.4 + 2652.7) / 5 = $3147.32 Mil. Total Assets at the begining of this year (Mar23) was $3,675 Mil. Long-Term Debt & Capital Lease Obligation was $1,208 Mil. Total Current Assets was $759 Mil. Total Current Liabilities was $300 Mil. |
Net Income was 11.8 + -22.5 + 2.5 + -7.7 = $-16 Mil. Revenue was 426.4 + 551.5 + 524.4 + 679 = $2,181 Mil. Gross Profit was 99.6 + 96.1 + 87.4 + 109 = $392 Mil. Average Total Assets from the begining of last year (Mar22) to the end of last year (Mar23) was (2441.9 + 2395.3 + 3712.7 + 3669.2 + 3674.8) / 5 = $3178.78 Mil. Total Assets at the begining of last year (Mar22) was $2,442 Mil. Long-Term Debt & Capital Lease Obligation was $1,743 Mil. Total Current Assets was $1,005 Mil. Total Current Liabilities was $469 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.
Mativ Holdings's current Net Income (TTM) was -330.
==> 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.
Mativ Holdings's current Cash Flow from Operations (TTM) was 114.
==> 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) |
= | -329.8 | / | 3674.8 | |
= | -0.08974638 |
ROA (Last Year) | = | Net Income | / | Total Assets (Mar22) |
= | -15.9 | / | 2441.9 | |
= | -0.00651132 |
Mativ Holdings's return on assets of this year was -0.08974638. Mativ Holdings's return on assets of last year was -0.00651132.
==> 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.
Mativ Holdings's current Net Income (TTM) was -330. Mativ Holdings's current Cash Flow from Operations (TTM) was 114.
==> 114 > -330 ==> 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 |
= | 1208.3 | / | 3147.32 | |
= | 0.38391393 |
Gearing (Last Year: Mar23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Mar22 to Mar23 |
= | 1743 | / | 3178.78 | |
= | 0.54832357 |
Mativ Holdings's gearing of this year was 0.38391393. Mativ Holdings's gearing of last year was 0.54832357.
==> 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 |
= | 759.3 | / | 299.5 | |
= | 2.53522538 |
Current Ratio (Last Year: Mar23) | = | Total Current Assets | / | Total Current Liabilities |
= | 1005.2 | / | 468.5 | |
= | 2.14557097 |
Mativ Holdings's current ratio of this year was 2.53522538. Mativ Holdings's current ratio of last year was 2.14557097.
==> 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.
Mativ Holdings's number of shares in issue this year was 54.268. Mativ Holdings's number of shares in issue last year was 54.483.
==> 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 |
= | 385.1 | / | 2119 | |
= | 0.18173667 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 392.1 | / | 2181.3 | |
= | 0.17975519 |
Mativ Holdings's gross margin of this year was 0.18173667. Mativ Holdings's gross margin of last year was 0.17975519.
==> 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) |
= | 2119 | / | 3674.8 | |
= | 0.57663002 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Mar22) |
= | 2181.3 | / | 2441.9 | |
= | 0.89327982 |
Mativ Holdings's asset turnover of this year was 0.57663002. Mativ Holdings's asset turnover of last year was 0.89327982.
==> 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
Mativ Holdings has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Mativ Holdings (NYSE:MATV) 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 Mativ Holdings's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Jeffrey Keenan | director | C/O SCHWEITZER-MAUDUIT INTERNATIONAL, SUITE 600, ALPHARETTA GA 30022 |
William M Cook | director | 1925 WEST FIELD COURT, SUITE 200, LAKE FOREST IL 60045 |
Mark W Johnson | officer: CLO, GC & Secretary | 1600 ROYAL STREET, JASPER IN 47546 |
Gregory Thomas Weitzel | officer: CFO | 100 NORTH POINT CENTER EAST, SUITE 600, ALPHARETTA GA 30022 |
Julie Schertell | director, officer: President, CEO | 3460 PRESTON RIDGE ROAD, SUITE 600, ALPHARETTA GA 30005 |
John Rogers | director | ONE MIDTOWN PLAZA, 1360 PEACHTREE STREET NE, ATLANTA GA 30309 |
Anderson Davis Warlick | director | C/O SCHWEITZER-MAUDUIT INTERNATIONAL, 100 NORTH POINT CENTER EAST, STE 600, ALPHARETTA GA 30022 |
Shruti Singhal | director | 4 TESSENEER DRIVE, HIGHLAND HEIGHTS KY 41076 |
Michael W Rickheim | officer: CHRO and CAO | 3460 PRESTON RIDGE ROAD, SUITE 600, ALPHARETTA GA 30005 |
Tony R Thene | director | ALCOA INC., 201 ISABELLA STREET, PITTSBURGH PA 15212-5858 |
Cheryl Allegri | officer: Controller | C/O SWM, 100 NORTH POINT CENTER E, SUITE 600, ALPHARETTA GA 30022 |
Kimberly E Ritrievi | director | TETRA TECH, INC, 3475 E. FOOTHILL BLVD., PASADENA CA 91107 |
Jeffrey Kramer | director, officer: Co-CEO | C/O SCHWEITZER-MAUDUIT INTERNT'L, INC., SUITE 600, ALPHARETTA GA 30022 |
Tracey Peacock | officer: EVP, AMS | C/O SCHWEITZER-MAUDUIT INTERNATIONAL INC, 100 NORTH POINT CENTER EAST, STE 600, ALPHARETTA GA 30022 |
Mark L Bye | director |
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