Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Tangoe has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for Tangoe's Piotroski F-Score or its related term are showing as below:
Tangoe Piotroski F-Score Historical Data
The historical data trend for Tangoe'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.
* 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.
*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.
Tangoe's current Net Income (TTM) was -4.12.
==> 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.
Tangoe's current ratio of this year was 2.93881213. Tangoe's current ratio of last year was 3.67890821.
==> 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.
Tangoe's number of shares in issue this year was 39.314. Tangoe's number of shares in issue last year was 41.109.
==> 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.
Tangoe's gross margin of this year was 0.53613401. Tangoe's gross margin of last year was 0.54053937.
==> 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
Tangoe's asset turnover of this year was 1.04383253. Tangoe's asset turnover of last year was 1.04794552.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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3
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Tangoe has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
Tangoe (OTCPK:TNGO) 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.
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.
Tangoe Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Tangoe's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Tangoe Inc was incorporated in Delaware under the name TelecomRFQ, Inc. in February 2000 and changed its name to Tangoe, Inc. in December 2001. The Company provides connection lifecycle management, or CLM, software and services to a wide range of enterprises and service providers. CLM covers the entire spectrum of an enterprise's connection-based assets and services such as voice and data services, mobile devices and usage, machine-to-machine connections, cloud software and services, enterprise social and information technology connections, and encompasses the entire lifecycle of these assets and services including planning and sourcing, procurement and provisioning, inventory and usage management, mobile device management, or MDM, real-time telecommunications expense management, or rTEM, invoice processing, expense allocation and accounting, and asset decommissioning and disposal. Its solution can provide a significant return on investment by enabling an enterprise to identify and resolve billing errors, to optimize service plans for its usage patterns and needs, to manage used and unused connection assets and services, to proactively monitor usage and to prevent bill overages. As of December 31, 2013, more than 1,000 recurring revenue customers were using its software or services. It competes with technology providers and outsourced service providers selling a range of TEM, MDM, EMM and MMS solutions.
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