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The Mosaic Co (The Mosaic Co) Piotroski F-Score

: 5 (As of Today)
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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

The Mosaic Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for The Mosaic Co's Piotroski F-Score or its related term are showing as below:

MOS' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 9
Current: 5

During the past 13 years, the highest Piotroski F-Score of The Mosaic Co was 9. The lowest was 3. And the median was 6.


The Mosaic Co Piotroski F-Score Historical Data

The historical data trend for The Mosaic Co'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.

The Mosaic Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.00 7.00 8.00 9.00 5.00

The Mosaic Co 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 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 Premium Member Only Premium Member Only Premium Member Only 9.00 6.00 5.00 5.00 5.00

Competitive Comparison

For the Agricultural Inputs subindustry, The Mosaic Co'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.


The Mosaic Co Piotroski F-Score Distribution

For the Agriculture industry and Basic Materials sector, The Mosaic Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where The Mosaic Co'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 434.8 + 369 + -4.2 + 365.3 = $1,165 Mil.
Cash Flow from Operations was 149 + 1072.7 + 647.4 + 538.1 = $2,407 Mil.
Revenue was 3604.3 + 3394 + 3548.3 + 3149.5 = $13,696 Mil.
Gross Profit was 670.4 + 571.1 + 409.6 + 559.5 = $2,211 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(23386 + 22857.5 + 23140.2 + 22654.4 + 23032.8) / 5 = $23014.18 Mil.
Total Assets at the begining of this year (Dec22) was $23,386 Mil.
Long-Term Debt & Capital Lease Obligation was $3,400 Mil.
Total Current Assets was $4,745 Mil.
Total Current Liabilities was $3,874 Mil.
Net Income was 1182 + 1035.9 + 841.7 + 523.2 = $3,583 Mil.

Revenue was 3922.3 + 5373.1 + 5348.5 + 4481.3 = $19,125 Mil.
Gross Profit was 1439.1 + 1846.3 + 1502 + 968.4 = $5,756 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(22036.4 + 23423.1 + 23985.6 + 23437.6 + 23386) / 5 = $23253.74 Mil.
Total Assets at the begining of last year (Dec21) was $22,036 Mil.
Long-Term Debt & Capital Lease Obligation was $2,547 Mil.
Total Current Assets was $6,557 Mil.
Total Current Liabilities was $5,534 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.

The Mosaic Co's current Net Income (TTM) was 1,165. ==> 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.

The Mosaic Co's current Cash Flow from Operations (TTM) was 2,407. ==> 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)
=1164.9/23386
=0.04981185

ROA (Last Year)=Net Income/Total Assets (Dec21)
=3582.8/22036.4
=0.16258554

The Mosaic Co's return on assets of this year was 0.04981185. The Mosaic Co's return on assets of last year was 0.16258554. ==> 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.

The Mosaic Co's current Net Income (TTM) was 1,165. The Mosaic Co's current Cash Flow from Operations (TTM) was 2,407. ==> 2,407 > 1,165 ==> 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
=3399.7/23014.18
=0.14772197

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=2547.1/23253.74
=0.10953507

The Mosaic Co's gearing of this year was 0.14772197. The Mosaic Co's gearing of last year was 0.10953507. ==> 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
=4745/3873.7
=1.22492707

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=6556.6/5533.8
=1.18482779

The Mosaic Co's current ratio of this year was 1.22492707. The Mosaic Co's current ratio of last year was 1.18482779. ==> 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.

The Mosaic Co's number of shares in issue this year was 327.5. The Mosaic Co's number of shares in issue last year was 343.7. ==> 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
=2210.6/13696.1
=0.16140361

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=5755.8/19125.2
=0.30095372

The Mosaic Co's gross margin of this year was 0.16140361. The Mosaic Co's gross margin of last year was 0.30095372. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec22)
=13696.1/23386
=0.58565381

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=19125.2/22036.4
=0.86789131

The Mosaic Co's asset turnover of this year was 0.58565381. The Mosaic Co's asset turnover of last year was 0.86789131. ==> 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+0+1+0+1+1+0+0
=5

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

The Mosaic Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The Mosaic Co  (NYSE:MOS) 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.


The Mosaic Co Piotroski F-Score Related Terms

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The Mosaic Co (The Mosaic Co) Business Description

Traded in Other Exchanges
Address
101 East Kennedy Boulevard, Suite 2500, Tampa, FL, USA, 33602
Formed in 2004 by the combination of IMC Global and Cargill's fertilizer business, Mosaic is one of the largest phosphate and potash producers in the world. The company's assets include phosphate rock mines in Florida, Brazil, and Peru and potash mines in Saskatchewan, New Mexico, and Brazil. Mosaic also runs a large fertilizer distribution operation in Brazil through its Mosiac Fertilizantes business, which the company acquired from Vale in 2018.
Executives
Philip Eugene Bauer officer: Sr. VP, Gen Counsel & Corp Sec 101 EAST KENNEDY BOULEVARD, SUITE 2500, TAMPA FL 33602
Teixeira Joao Roberto Goncalves director 101 EAST KENNEDY BOULEVARD, SUITE 2500, TAMPA FL 33602
Russell A Flugel officer: Principal Accounting Officer C/O THE MOSAIC COMPANY, 101 EAST KENNEDY BLVD., SUITE 2500, TAMPA FL 33602
Denise C Johnson director C/O CATERPILLAR, INCORPORATED, 901 WEST WASHINGTON, CV41110, EAST PEORIA IL 61630
Gregory L Ebel director
Precourt Walter F. Iii officer: Senior VP - Potash Operations C/O THE MOSAIC COMPANY, 101 EAST KENNEDY BLVD., SUITE 2500, TAMPA FL 33602
Ricard Corrine D. officer: Senior VP - Human Resources C/O THE MOSAIC COMPANY, 101 EAST KENNEDY BLVD., SUITE 2500, TAMPA FL 33602
Mark J. Isaacson officer: VP, Gen. Counsel & Corp. Sec. C/O THE MOSAIC COMPANY, 101 EAST KENNEDY BLVD., SUITE 2500, TAMPA FL 33602
James Calvin O'rourke officer: EVP - Operations C/O THE MOSAIC COMPANY, 101 EAST KENNEDY BLVD., SUITE 2500, TAMPA FL 33602
Yijun Wang officer: SVP-Global Strategic Marketing 101 EAST KENNEDY BOULEVARD, SUITE 2500, TAMPA FL 33602
S.a. Vale director PRAIA DE BOTAFOGO, 186, RIO DE JANEIRO D5 22250-145
Gretchen H Watkins director C/O THE MOSAIC COMPANY, 101 EAST KENNEDY BOULEVARD, SUITE 2500, TAMPA FL 33602
Benjamin James Pratt officer: SVP - Gov. & Public Affairs 101 EAST KENNEDY BOULEVARD, SUITE 2500, TAMPA FL 33602
Oscar Bernardes director 39 OLD RIDGEBURY ROAD, DANBURY CT 06810-5113
Luciano Siani Pires director C/O THE MOSAIC COMPANY, 101 EAST KENNEDY BLVD., SUITE 2500, TAMPA FL 33602

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