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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
Fiesta Restaurant Group has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Fiesta Restaurant Group's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Fiesta Restaurant Group was 8. The lowest was 3. And the median was 6.
The historical data trend for Fiesta Restaurant Group'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.
Fiesta Restaurant Group Annual Data | |||||||||||||||||||||
Trend | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 6.00 | 4.00 | 6.00 | 8.00 | 3.00 |
Fiesta Restaurant Group Quarterly Data | ||||||||||||||||||||
Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | |
Piotroski F-Score | Get a 7-Day Free Trial | 6.00 | 4.00 | 3.00 | 3.00 | 4.00 |
For the Restaurants subindustry, Fiesta Restaurant Group'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 Restaurants industry and Consumer Cyclical sector, Fiesta Restaurant Group's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Fiesta Restaurant Group'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 (Jun23) TTM: | Last Year (Jun22) TTM: |
Net Income was -2.916 + -4.066 + -1.909 + 3.859 = $-5.0 Mil. Cash Flow from Operations was 6.945 + -2.208 + 3.436 + 9.917 = $18.1 Mil. Revenue was 95.631 + 97.624 + 103.371 + 106.843 = $403.5 Mil. Gross Profit was 17.044 + 19.284 + 20.664 + 23.877 = $80.9 Mil. Average Total Assets from the begining of this year (Jun22) to the end of this year (Jun23) was (360.691 + 356.315 + 348.691 + 349.053 + 348.864) / 5 = $352.7228 Mil. Total Assets at the begining of this year (Jun22) was $360.7 Mil. Long-Term Debt & Capital Lease Obligation was $153.0 Mil. Total Current Assets was $56.5 Mil. Total Current Liabilities was $41.0 Mil. |
Net Income was 17.262 + -4.72 + -1.356 + -6.221 = $5.0 Mil. Revenue was 88.592 + 89.315 + 95.609 + 98.487 = $372.0 Mil. Gross Profit was 16.296 + 16.647 + 18.611 + 18.593 = $70.1 Mil. Average Total Assets from the begining of last year (Jun21) to the end of last year (Jun22) was (560.389 + 384.949 + 367.113 + 362.628 + 360.691) / 5 = $407.154 Mil. Total Assets at the begining of last year (Jun21) was $560.4 Mil. Long-Term Debt & Capital Lease Obligation was $159.3 Mil. Total Current Assets was $61.9 Mil. Total Current Liabilities was $44.7 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.
Fiesta Restaurant Group's current Net Income (TTM) was -5.0.
==> Negative ==> Score 0.
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.
Fiesta Restaurant Group's current Cash Flow from Operations (TTM) was 18.1.
==> 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 (Jun22) |
= | -5.032 | / | 360.691 | |
= | -0.013951 |
ROA (Last Year) | = | Net Income | / | Total Assets (Jun21) |
= | 4.965 | / | 560.389 | |
= | 0.00885992 |
Fiesta Restaurant Group's return on assets of this year was -0.013951. Fiesta Restaurant Group's return on assets of last year was 0.00885992.
==> 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.
Fiesta Restaurant Group's current Net Income (TTM) was -5.0. Fiesta Restaurant Group's current Cash Flow from Operations (TTM) was 18.1.
==> 18.1 > -5.0 ==> 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: Jun23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Jun22 to Jun23 |
= | 152.96 | / | 352.7228 | |
= | 0.43365498 |
Gearing (Last Year: Jun22) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Jun21 to Jun22 |
= | 159.273 | / | 407.154 | |
= | 0.39118614 |
Fiesta Restaurant Group's gearing of this year was 0.43365498. Fiesta Restaurant Group's gearing of last year was 0.39118614.
==> 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: Jun23) | = | Total Current Assets | / | Total Current Liabilities |
= | 56.492 | / | 40.952 | |
= | 1.37946865 |
Current Ratio (Last Year: Jun22) | = | Total Current Assets | / | Total Current Liabilities |
= | 61.895 | / | 44.676 | |
= | 1.38541946 |
Fiesta Restaurant Group's current ratio of this year was 1.37946865. Fiesta Restaurant Group's current ratio of last year was 1.38541946.
==> 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.
Fiesta Restaurant Group's number of shares in issue this year was 25.567. Fiesta Restaurant Group's number of shares in issue last year was 24.947.
==> 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 |
= | 80.869 | / | 403.469 | |
= | 0.20043423 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 70.147 | / | 372.003 | |
= | 0.18856568 |
Fiesta Restaurant Group's gross margin of this year was 0.20043423. Fiesta Restaurant Group's gross margin of last year was 0.18856568.
==> 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 (Jun22) |
= | 403.469 | / | 360.691 | |
= | 1.11860013 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Jun21) |
= | 372.003 | / | 560.389 | |
= | 0.66382995 |
Fiesta Restaurant Group's asset turnover of this year was 1.11860013. Fiesta Restaurant Group's asset turnover of last year was 0.66382995.
==> 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 |
= | 0 | + | 1 | + | 0 | + | 1 | + | 0 | + | 0 | + | 0 | + | 1 | + | 1 | |
= | 4 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Fiesta Restaurant Group has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Fiesta Restaurant Group (NAS:FRGI) 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 Fiesta Restaurant Group's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Nirmal K Tripathy | director | THE TJX COMPANIES, INC., 770 COCHITUATE ROAD, FRAMINGHAM MA 01701 |
Tyler Yoesting | officer: Vice President and Acting CFO | C/O FIESTA RESTAURANT GROUP, INC., 14800 LANDMARK BLVD., SUITE 500, DALLAS TX 75254 |
Ulyses Camacho | officer: See Remarks | C/O FIESTA RESTAURANT GROUP, INC., 14800 LANDMARK BLVD., SUITE 500, DALLAS TX 75254 |
Eladio Romeo | officer: See Remarks | C/O FIESTA RESTAURANT GROUP, INC., 14800 LANDMARK BLVD., SUITE 500, DALLAS TX 75254 |
Patricia Lopez-calleja | officer: SVP, Guest Engagement | C/O FIESTA RESTAURANT GROUP, INC., 14800 LANDMARK BLVD., SUITE 500, DALLAS TX 75254 |
Andrew Rechtschaffen | director | C/O OBREM CAPITAL MANAGEMENT, LLC, 733 THIRD AVENUE, 11TH FLOOR, NEW YORK NY 10017 |
Cheri Kinder | officer: VP, Corporate Controller | 14800 LANDMARK BOULEVARD, SUITE 500, ADDISON TX 75254 |
Louis Dipietro | officer: SVP, GC and Secretary | 35 PARK STREET, NORFOLK MA 02056 |
Anthony Dinkins | officer: SVP of Human Resources | 14800 LANDMARK BLVD., SUITE 500, DALLAS TX 75254 |
Hope Diaz | officer: See Remarks | C/O FIESTA RESTAURANT GROUP, INC., 14800 LANDMARK BLVD., SUITE 500, DALLAS TX 75254 |
Dirk A Montgomery | officer: SVP, CFO and Treasurer | C/O HEALTH INSURANCE INNOVATIONS, INC., 15438 N. FLORIDA AVE., SUITE 201, TAMPA FL 33613 |
Jefferies Financial Group Inc. | 10 percent owner | 520 MADISON AVENUE, NEW YORK NY 10022 |
Richard C. Stockinger | officer: CEO and President | C/O BENIHANA INC., 8685 N.W. 53RD TERRACE, MIAMI FL 33166 |
Sherrill Kaplan | director | C/O FIESTA RESTAURANT GROUP, INC., 14800 LANDMARK BOULEVARD, SUITE 500, DALLAS TX 75254 |
Joseph Brink | officer: VP, Chief Procurement Officer | 14800 LANDMARK BLVD., SUITE 500, DALLAS TX 75254 |
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