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Good Sign:
Piotroski F-Score is 8, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Fair Isaac has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Fair Isaac's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Fair Isaac was 9. The lowest was 5. And the median was 7.
The historical data trend for Fair Isaac'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.
Fair Isaac Annual Data | |||||||||||||||||||||
Trend | Sep14 | Sep15 | Sep16 | Sep17 | Sep18 | Sep19 | Sep20 | Sep21 | Sep22 | Sep23 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 8.00 | 8.00 | 6.00 | 7.00 | 9.00 |
Fair Isaac Quarterly Data | ||||||||||||||||||||
Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | |
Piotroski F-Score | Get a 7-Day Free Trial | 9.00 | 9.00 | 8.00 | 7.00 | 8.00 |
For the Software - Application subindustry, Fair Isaac'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 Software industry and Technology sector, Fair Isaac's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Fair Isaac'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 (Jun24) TTM: | Last Year (Jun23) TTM: |
Net Income was 101.424 + 121.065 + 129.799 + 126.256 = $479 Mil. Cash Flow from Operations was 164.049 + 122.12 + 71.035 + 213.331 = $571 Mil. Revenue was 389.733 + 382.059 + 433.809 + 447.849 = $1,653 Mil. Gross Profit was 306.901 + 298.598 + 346.863 + 359.624 = $1,312 Mil. Average Total Assets from the begining of this year (Jun23) to the end of this year (Jun24) was (1584.569 + 1575.281 + 1593.518 + 1703.117 + 1708.831) / 5 = $1633.0632 Mil. Total Assets at the begining of this year (Jun23) was $1,585 Mil. Long-Term Debt & Capital Lease Obligation was $2,123 Mil. Total Current Assets was $631 Mil. Total Current Liabilities was $337 Mil. |
Net Income was 90.699 + 97.643 + 101.55 + 128.758 = $419 Mil. Revenue was 348.748 + 344.87 + 380.266 + 398.688 = $1,473 Mil. Gross Profit was 266.262 + 268.301 + 300.46 + 326.842 = $1,162 Mil. Average Total Assets from the begining of last year (Jun22) to the end of last year (Jun23) was (1456.836 + 1442.034 + 1458.693 + 1502.431 + 1584.569) / 5 = $1488.9126 Mil. Total Assets at the begining of last year (Jun22) was $1,457 Mil. Long-Term Debt & Capital Lease Obligation was $1,839 Mil. Total Current Assets was $575 Mil. Total Current Liabilities was $393 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.
Fair Isaac's current Net Income (TTM) was 479.
==> 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.
Fair Isaac's current Cash Flow from Operations (TTM) was 571.
==> 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 (Jun23) |
= | 478.544 | / | 1584.569 | |
= | 0.30200263 |
ROA (Last Year) | = | Net Income | / | Total Assets (Jun22) |
= | 418.65 | / | 1456.836 | |
= | 0.28736934 |
Fair Isaac's return on assets of this year was 0.30200263. Fair Isaac's return on assets of last year was 0.28736934.
==> 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.
Fair Isaac's current Net Income (TTM) was 479. Fair Isaac's current Cash Flow from Operations (TTM) was 571.
==> 571 > 479 ==> 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: Jun24) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Jun23 to Jun24 |
= | 2123.363 | / | 1633.0632 | |
= | 1.30023321 |
Gearing (Last Year: Jun23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Jun22 to Jun23 |
= | 1839.279 | / | 1488.9126 | |
= | 1.23531697 |
Fair Isaac's gearing of this year was 1.30023321. Fair Isaac's gearing of last year was 1.23531697.
==> 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: Jun24) | = | Total Current Assets | / | Total Current Liabilities |
= | 631.135 | / | 337.216 | |
= | 1.87160455 |
Current Ratio (Last Year: Jun23) | = | Total Current Assets | / | Total Current Liabilities |
= | 575.011 | / | 392.946 | |
= | 1.46333338 |
Fair Isaac's current ratio of this year was 1.87160455. Fair Isaac's current ratio of last year was 1.46333338.
==> 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.
Fair Isaac's number of shares in issue this year was 25.015. Fair Isaac's number of shares in issue last year was 25.337.
==> 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 |
= | 1311.986 | / | 1653.45 | |
= | 0.79348393 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 1161.865 | / | 1472.572 | |
= | 0.78900387 |
Fair Isaac's gross margin of this year was 0.79348393. Fair Isaac's gross margin of last year was 0.78900387.
==> 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 (Jun23) |
= | 1653.45 | / | 1584.569 | |
= | 1.04346986 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Jun22) |
= | 1472.572 | / | 1456.836 | |
= | 1.01080149 |
Fair Isaac's asset turnover of this year was 1.04346986. Fair Isaac's asset turnover of last year was 1.01080149.
==> 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 | + | 1 | + | 1 | + | 1 | + | 1 | |
= | 8 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Fair Isaac has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
Fair Isaac (NYSE:FICO) 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 Fair Isaac's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Joanna Rees | director | LEAPFROG ENTERPRISES, INC., 6401 HOLLIS STREET SUITE 100, EMERYVILLE CA 94608 |
Marc F Mcmorris | director | 181 METRO DRIVE, SAN JOSE CA 95110 |
Thomas A. Bowers | officer: Executive Vice President | 181 METRO DR., #600, SAN JOSE CA 95110 |
Steven P. Weber | officer: Interim Chief Financial Ofc. | 5 WEST MENDENHALL, SUITE 105, BOZEMAN MT 59715 |
Mark R Scadina | officer: V.P., General Counsel & Sec. | 181 METRO DRIVE, SAN JOSE CA 95110 |
James Kirsner | director | 5858 HORTON STREET, SUITE 350, EMERYVILLE CA 94608 |
Richard Deal | officer: Vice President | 181 METRO DRIVE, SAN JOSE CA 95110 |
William J Lansing | director | NET PERCEPTIONS, INC, 7700 FRANCE AVENUE SOUTH, EDINA MN 55435 |
Eva Manolis | director | C/O SHUTTERFLY, INC., 2800 BRIDGE PARKWAY, REDWOOD CITY CA 94065 |
David A Rey | director | 181 METRO DRIVE, SAN JOSE CA 95110 |
Michael S Leonard | officer: CAO and Vice President | 181 METRO DRIVE, SAN JOSE CA 95110 |
Braden R Kelly | director | 181 METRO DRIVE, SAN JOSE CA 95110 |
James M Wehmann | officer: Executive Vice President | 181 METRO DRIVE, SAN JOSE CA 95110 |
Henry Tayloe Stansbury | director | C/O COUPA SOFTWARE INC., 1855 S. GRANT STREET, SAN MATEO CA 94402 |
Nikhil Behl | officer: Executive Vice President | 601 108TH AVENUE NE, SUITE 1200, BELLEVUE WA 98004 |
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