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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
Global Indemnity Group LLC 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 Global Indemnity Group LLC's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Global Indemnity Group LLC was 8. The lowest was 1. And the median was 5.
The historical data trend for Global Indemnity Group LLC'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.
Global Indemnity Group LLC Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 6.00 | 5.00 | 6.00 | 4.00 | 8.00 |
Global Indemnity Group LLC 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 | 4.00 | 8.00 | 9.00 | 8.00 | 8.00 |
For the Insurance - Property & Casualty subindustry, Global Indemnity Group LLC'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 Insurance industry and Financial Services sector, Global Indemnity Group LLC's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Global Indemnity Group LLC'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 2.494 + 9.337 + 7.7 + 5.898 = $25.4 Mil. Cash Flow from Operations was 5.326 + 8.845 + 22.581 + 6.134 = $42.9 Mil. Revenue was 150.914 + 141.893 + 126.061 + 109.261 = $528.1 Mil. Average Total Assets from the begining of this year (Dec22) to the end of this year (Dec23) was (1800.775 + 1777.278 + 1774.002 + 1767.846 + 1729.576) / 5 = $1769.8954 Mil. Total Assets at the begining of this year (Dec22) was $1,800.8 Mil. Long-Term Debt & Capital Lease Obligation was $12.7 Mil. Total Assets was $1,729.6 Mil. Total Liabilities was $1,080.8 Mil. |
Net Income was -14.773 + -12.162 + 23.746 + 2.339 = $-0.9 Mil. Revenue was 130.456 + 147.86 + 194.583 + 155.635 = $628.5 Mil. Average Total Assets from the begining of last year (Dec21) to the end of last year (Dec22) was (2012.809 + 1959.496 + 1861.779 + 1879.137 + 1800.775) / 5 = $1902.7992 Mil. Total Assets at the begining of last year (Dec21) was $2,012.8 Mil. Long-Term Debt & Capital Lease Obligation was $15.7 Mil. Total Assets was $1,800.8 Mil. Total Liabilities was $1,174.5 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.
Global Indemnity Group LLC's current Net Income (TTM) was 25.4.
==> 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.
Global Indemnity Group LLC's current Cash Flow from Operations (TTM) was 42.9.
==> 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) |
= | 25.429 | / | 1800.775 | |
= | 0.01412114 |
ROA (Last Year) | = | Net Income | / | Total Assets (Dec21) |
= | -0.85 | / | 2012.809 | |
= | -0.0004223 |
Global Indemnity Group LLC's return on assets of this year was 0.01412114. Global Indemnity Group LLC's return on assets of last year was -0.0004223.
==> 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.
Global Indemnity Group LLC's current Net Income (TTM) was 25.4. Global Indemnity Group LLC's current Cash Flow from Operations (TTM) was 42.9.
==> 42.9 > 25.4 ==> 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 |
= | 12.733 | / | 1769.8954 | |
= | 0.00719421 |
Gearing (Last Year: Dec22) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec21 to Dec22 |
= | 15.701 | / | 1902.7992 | |
= | 0.00825153 |
Global Indemnity Group LLC's gearing of this year was 0.00719421. Global Indemnity Group LLC's gearing of last year was 0.00825153.
==> This year is lower or equal to last year. ==> Score 1.
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
* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.
Current Ratio (This Year: Dec23) | = | Total Assets | / | Total Liabilities |
= | 1729.576 | / | 1080.823 | |
= | 1.60023982 |
Current Ratio (Last Year: Dec22) | = | Total Assets | / | Total Liabilities |
= | 1800.775 | / | 1174.546 | |
= | 1.53316686 |
Global Indemnity Group LLC's current ratio of this year was 1.60023982. Global Indemnity Group LLC's current ratio of last year was 1.53316686.
==> 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.
Global Indemnity Group LLC's number of shares in issue this year was 13.543. Global Indemnity Group LLC's number of shares in issue last year was 14.28.
==> 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.
* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.
Net Margin (This Year: TTM) | = | Net Income | / | Revenue |
= | 25.429 | / | 528.129 | |
= | 0.04814922 |
Net Margin (Last Year: TTM) | = | Net Income | / | Revenue |
= | -0.85 | / | 628.534 | |
= | -0.00135235 |
Global Indemnity Group LLC's net margin of this year was 0.04814922. Global Indemnity Group LLC's net margin of last year was -0.00135235.
==> This year's net 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) |
= | 528.129 | / | 1800.775 | |
= | 0.29327873 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Dec21) |
= | 628.534 | / | 2012.809 | |
= | 0.31226709 |
Global Indemnity Group LLC's asset turnover of this year was 0.29327873. Global Indemnity Group LLC's asset turnover of last year was 0.31226709.
==> 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 | + | 1 | + | 1 | + | 1 | + | 1 | + | 1 | + | 1 | + | 0 | |
= | 8 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Global Indemnity Group LLC has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
Global Indemnity Group LLC (NYSE:GBLI) 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 Global Indemnity Group LLC's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Bevan Olson Greibesland | officer: SVP - Programs | 112 S. FRENCH STREET, SUITE 105, WILMINGTON DE 19801 |
Fred Robert Donner | director | GLOBAL INDEMNITY GROUP, LLC, 112 S. FRENCH STREET, SUITE 105, WILMINGTON DE 19801 |
Gary Charles Tolman | director | C/O GLOBAL INDEMNITY GROUP, LLC, 112 S. FRENCH STREET, SUITE 105, WILMINGTON DE 19801 |
Seth Gersch | director | C/O UNITED AMERICA INDEMNITY GROUP, INC., SUITE 605, BALA CYNWYD PA 19004 |
Joseph W Brown | director | C/O SAFECO, 4333 BROOKLYN AVENUE NE, SEATTLE WA 98185 |
Reiner Ralf Mauer | officer: Chief Operating Officer | 3 BALA PLAZA EAST, SUITE 300, BALA CYNWYD PA 19004 |
David S Charlton | director | 3 BALA PLAZA EAST, SUITE 300, BALA CYNWYD PA 19004 |
Holt James Richard Jr | director | 3 BALA PLAZA EAST, SUITE 300, BALA CYNWYD PA 19004 |
Bruce R Lederman | director | 2601 OCEAN PARK BLVD. SUITE 320, SANTA MONCICA CA 90405-5216 |
David C Elliott | officer: Sr. Vice President, Claims | 3 BALA PLAZA EAST, SUITE 300, BALA CYNWYD PA 19004 |
Stanley K Lam | officer: Senior Vice President | 3 BALA PLAZA EAST, SUITE 300, BALA CYNWYD PA 19004 |
Saul A Fox | director, 10 percent owner | 950 TOWER LANE, SUITE 1150, FOSTER CITY CA 94404 |
James D Wehr | director | 3 BALA PLAZA EAST, SUITE 300, BALA CYNWYD PA 19004 |
Stephen Green | officer: President, Wind River Reinsur. | 3 BALA PLAZA EAST, SUITE 300, BALA CYNWYD PA 19004 |
Thomas P. Gibbons | officer: Executive Vice Presdient | 3 BALA PLAZA EAST, SUITE 300, BALA CYNWYD PA 19004 |
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