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Piotroski’s Best and Worst Large Cap Stocks

By Joel Stonington - 2011-12-06T01:37:02Z

Photograph by Guenter Shiffmann/Bloomberg

18 of 19

Piotroski's Worst: AK Steel

Business: Produces carbon, stainless and electrical flat-rolled steel for cars and other markets

Piotroski Score: 1

AK Steel's (AKS) return on assets fell from -1.67 percent in 2009 to -3.05 percent in 2010. Its operating cash flow fell to -$132.4 million in 2010, which is worse than its net loss of -$128.9 million. Gross margin dropped from 3.01 percent in 2009 to 2.51 percent in 2010.

Outlook for the Company:

Bull Case: Although steel stocks are discounting prices, rising demand in emerging economies could lead prices higher in 2012, says Bloomberg Industries.

Bear Case: Emerging market steel equity prices continue to be hit by rising inflation and tight monetary policies, says Bloomberg Industries.