GURUFOCUS.COM » STOCK LIST » Industrials » Farm & Heavy Construction Machinery » Columbus McKinnon Corp (NAS:CMCO) » Definitions » Piotroski F-Score

Columbus McKinnon (Columbus McKinnon) Piotroski F-Score : 6 (As of Apr. 29, 2024)


View and export this data going back to 1996. Start your Free Trial

What is Columbus McKinnon 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

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

CMCO' 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 Columbus McKinnon was 8. The lowest was 3. And the median was 6.


Columbus McKinnon Piotroski F-Score Historical Data

The historical data trend for Columbus McKinnon'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.

Columbus McKinnon Piotroski F-Score Chart

Columbus McKinnon Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.00 6.00 4.00 6.00 7.00

Columbus McKinnon Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 7.00 6.00 6.00 6.00

Competitive Comparison of Columbus McKinnon's Piotroski F-Score

For the Farm & Heavy Construction Machinery subindustry, Columbus McKinnon'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.


Columbus McKinnon's Piotroski F-Score Distribution in the Farm & Heavy Construction Machinery Industry

For the Farm & Heavy Construction Machinery industry and Industrials sector, Columbus McKinnon's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Columbus McKinnon'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 13.895 + 9.275 + 15.813 + 9.728 = $49 Mil.
Cash Flow from Operations was 66.734 + -17.247 + 16.689 + 29.149 = $95 Mil.
Revenue was 253.843 + 235.492 + 258.4 + 254.143 = $1,002 Mil.
Gross Profit was 91.218 + 86.649 + 99.976 + 93.897 = $372 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(1649.432 + 1698.455 + 1859.509 + 1827.401 + 1857.31) / 5 = $1778.4214 Mil.
Total Assets at the begining of this year (Dec22) was $1,649 Mil.
Long-Term Debt & Capital Lease Obligation was $499 Mil.
Total Current Assets was $516 Mil.
Total Current Liabilities was $269 Mil.
Net Income was 11.826 + 8.391 + 14.114 + 12.029 = $46 Mil.

Revenue was 253.368 + 220.287 + 231.74 + 230.37 = $936 Mil.
Gross Profit was 85.475 + 82.519 + 86.31 + 82.044 = $336 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(1671.473 + 1685.707 + 1634.729 + 1629.295 + 1649.432) / 5 = $1654.1272 Mil.
Total Assets at the begining of last year (Dec21) was $1,671 Mil.
Long-Term Debt & Capital Lease Obligation was $441 Mil.
Total Current Assets was $464 Mil.
Total Current Liabilities was $215 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.

Columbus McKinnon's current Net Income (TTM) was 49. ==> 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.

Columbus McKinnon's current Cash Flow from Operations (TTM) was 95. ==> 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)
=48.711/1649.432
=0.02953198

ROA (Last Year)=Net Income/Total Assets (Dec21)
=46.36/1671.473
=0.02773601

Columbus McKinnon's return on assets of this year was 0.02953198. Columbus McKinnon's return on assets of last year was 0.02773601. ==> 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.

Columbus McKinnon's current Net Income (TTM) was 49. Columbus McKinnon's current Cash Flow from Operations (TTM) was 95. ==> 95 > 49 ==> 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
=499.388/1778.4214
=0.28080409

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=440.916/1654.1272
=0.26655508

Columbus McKinnon's gearing of this year was 0.28080409. Columbus McKinnon's gearing of last year was 0.26655508. ==> 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

Current Ratio (This Year: Dec23)=Total Current Assets/Total Current Liabilities
=516.412/269.321
=1.91745909

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=463.608/215.432
=2.15199228

Columbus McKinnon's current ratio of this year was 1.91745909. Columbus McKinnon's current ratio of last year was 2.15199228. ==> 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.

Columbus McKinnon's number of shares in issue this year was 28.991. Columbus McKinnon's number of shares in issue last year was 28.778. ==> 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
=371.74/1001.878
=0.37104318

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=336.348/935.765
=0.3594364

Columbus McKinnon's gross margin of this year was 0.37104318. Columbus McKinnon's gross margin of last year was 0.3594364. ==> 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 (Dec22)
=1001.878/1649.432
=0.60740788

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=935.765/1671.473
=0.55984452

Columbus McKinnon's asset turnover of this year was 0.60740788. Columbus McKinnon's asset turnover of last year was 0.55984452. ==> This year's asset turnover is higher. ==> Score 1.

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+0+0+0+1+1
=6

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

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

Columbus McKinnon  (NAS:CMCO) 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.


Columbus McKinnon Piotroski F-Score Related Terms

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


Columbus McKinnon (Columbus McKinnon) Business Description

Traded in Other Exchanges
Address
205 Crosspoint Parkway, Buffalo, NY, USA, 14068
Columbus McKinnon Corp is a designer, manufacturer and marketer of intelligent motion solutions, including motion control products, technologies, automated systems and services, that efficiently and ergonomically move, lift, position and secure materials. Its key products include hoists, crane components, precision conveyors, actuators, rigging tools, light rail workstations, and digital power and motion control systems. The company's targeted market verticals include general industries, mobile industries, energy and utilities, process industries, industrial automation, construction and infrastructure, food processing, entertainment, life sciences, consumer packaged goods and e-commerce/supply chain/warehousing.
Executives
Rebecca Yeung director 205 CROSSPOINT PARKWAY, GETZVILLE NY 14068
Jon Adams officer: Interim VP Crane Solutions 205 CROSSPOINT PARKWAY, GETZVILLE NY 14068
Kurt F Wozniak officer: VP - Latin America 205 CROSSPOINT PARKWAY, GETZVILLE NY 14068
Gerard G Colella director 6 SHATTUCK RD, ANDOVER MA 01810
Chad R Abraham director 800 NICOLLET MALL, MINNEAPOLIS MN 55402
Mark R Paradowski officer: VP - Information Services 205 CROSSPOINT PARKWAY, GETZVILLE NY 14068
Alan S Korman officer: VP, Gen'l Counsel & Secretary 205 CROSSPOINT PARKWAY, GETZVILLE NY 14068
Gregory P Rustowicz officer: VP - Finance and CFO 205 CROSSPOINT PARKWAY, GETZVILLE NY 14068
Peter M Mccormick officer: VP-CraneSolutions 205 CROSSPOINT PARKWAY, GETZVILLE NY 14068
Adrienne Williams officer: Vice President & CHRO 205 CROSSPOINT PARKWAY, GETZVILLE NY 14068
Terry Schadeberg officer: President Dorner Mfg. Corp. 205 CROSSPOINT PARKWAY, GETZVILLE NY 14068
Michael Dastoor director C/O JABIL CIRCUIT, INC., 10560 DR. MARTIN LUTHER KING, JR. ST. N., ST. PETERSBURG FL 33716-3718
Mario Y. Ramos officer: VP Global Product Development 205 CROSSPOINT PARKWAY, GETZVILLE NY 14068
Jeanne Beliveau-dunn director C/O XYLEM INC., 1 INTERNATIONAL DRIVE, RYE BROOK NY 10573
David J. Wilson director, officer: President & CEO 13320 BALLANTYNE CORPORATE PLACE, CHARLOTTE NC 28277