Piotroski F-Score of 2 is low, which usually implies poor business operation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Mauna Kea Technologies has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for Mauna Kea Technologies's Piotroski F-Score or its related term are showing as below:
MKEAF'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 3 Max: 5
Current: 2
During the past 13 years, the highest Piotroski F-Score of Mauna Kea Technologies was 5. The lowest was 2. And the median was 3.
Mauna Kea Technologies Piotroski F-Score Historical Data
The historical data trend for Mauna Kea Technologies'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.
Competitive Comparison of Mauna Kea Technologies's Piotroski F-Score
For the Medical Devices subindustry, Mauna Kea Technologies'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.
Mauna Kea Technologies's Piotroski F-Score Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Mauna Kea Technologies's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Mauna Kea Technologies'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.
*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.
Mauna Kea Technologies's current Net Income (TTM) was -11.84.
==> 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.
Mauna Kea Technologies's current Cash Flow from Operations (TTM) was -9.35.
==> Negative ==> Score 0.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
Mauna Kea Technologies's return on assets of this year was -0.42346337. Mauna Kea Technologies's return on assets of last year was -0.60593491.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Mauna Kea Technologies's gearing of this year was 1.16634651. Mauna Kea Technologies's gearing of last year was 1.14572296.
==> Last year is lower than this year ==> Score 0.
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
Mauna Kea Technologies's current ratio of this year was 1.18991872. Mauna Kea Technologies's current ratio of last year was 2.5434704.
==> 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.
Mauna Kea Technologies's number of shares in issue this year was 51.996. Mauna Kea Technologies's number of shares in issue last year was 44.771.
==> 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.
Mauna Kea Technologies's gross margin of this year was 0.73191973. Mauna Kea Technologies's gross margin of last year was 0.74163889.
==> 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
Mauna Kea Technologies's asset turnover of this year was 0.28329817. Mauna Kea Technologies's asset turnover of last year was 0.34704052.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Mauna Kea Technologies has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
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.
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.
Mauna Kea Technologies Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Mauna Kea Technologies's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Mauna Kea Technologies (Mauna Kea Technologies) Business Description
Mauna Kea Technologies SA is a medical device corporation. It is engaged in designing, developing, and marketing an imaging platform used to view tissues at a cellular level, in real-time, during standard procedures. The firm operates in the business segment of Endomicroscopy. The group's technological platform is Cellvizio which helps physicians to detect early-stage pathologies more accurately and make therapeutic decisions. It generates revenue from the sales of Cellvizio products and accessories used for medical diagnostics, research, and related services. The company sells its products in France and internationally, of which the majority of the revenue is derived from America.
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