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Good Sign:
Piotroski F-Score is 9, indicating 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
Santander Consumer USA Holdings has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Santander Consumer USA Holdings's Piotroski F-Score or its related term are showing as below:
During the past 11 years, the highest Piotroski F-Score of Santander Consumer USA Holdings was 9. The lowest was 4. And the median was 5.
The historical data trend for Santander Consumer USA Holdings'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.
Santander Consumer USA Holdings Annual Data | |||||||||||||||||||||
Trend | Dec11 | Dec12 | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 6.00 | 7.00 | 5.00 | 4.00 | 4.00 |
Santander Consumer USA Holdings Quarterly Data | ||||||||||||||||||||
Dec16 | Mar17 | Jun17 | Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | |
Piotroski F-Score | Get a 7-Day Free Trial | 4.00 | 4.00 | 9.00 | 9.00 | 9.00 |
For the Credit Services subindustry, Santander Consumer USA Holdings'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 Credit Services industry and Financial Services sector, Santander Consumer USA Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Santander Consumer USA Holdings'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 (Sep21) TTM: | Last Year (Sep20) TTM: |
Net Income was 521.461 + 741.655 + 1058.202 + 763.324 = $3,085 Mil. Cash Flow from Operations was 760.547 + 2061.117 + 1755.921 + 1314.537 = $5,892 Mil. Revenue was 1722.444 + 1897.934 + 1775.354 + 1709.073 = $7,105 Mil. Average Total Assets from the begining of this year (Sep20) to the end of this year (Sep21) was (48448.921 + 48887.493 + 47234.002 + 48245.934 + 49074.45) / 5 = $48378.16 Mil. Total Assets at the begining of this year (Sep20) was $48,449 Mil. Long-Term Debt & Capital Lease Obligation was $38,432 Mil. Total Assets was $49,074 Mil. Total Liabilities was $41,142 Mil. |
Net Income was 146.062 + -3.987 + -96.678 + 490.115 = $536 Mil. Revenue was 1550.291 + 1751.322 + 1621.431 + 1728.477 = $6,652 Mil. Average Total Assets from the begining of last year (Sep19) to the end of last year (Sep20) was (47279.015 + 48933.529 + 47106.931 + 47268.695 + 48448.921) / 5 = $47807.4182 Mil. Total Assets at the begining of last year (Sep19) was $47,279 Mil. Long-Term Debt & Capital Lease Obligation was $41,369 Mil. Total Assets was $48,449 Mil. Total Liabilities was $43,354 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.
Santander Consumer USA Holdings's current Net Income (TTM) was 3,085.
==> 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.
Santander Consumer USA Holdings's current Cash Flow from Operations (TTM) was 5,892.
==> 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 (Sep20) |
= | 3084.642 | / | 48448.921 | |
= | 0.06366792 |
ROA (Last Year) | = | Net Income | / | Total Assets (Sep19) |
= | 535.512 | / | 47279.015 | |
= | 0.01132663 |
Santander Consumer USA Holdings's return on assets of this year was 0.06366792. Santander Consumer USA Holdings's return on assets of last year was 0.01132663.
==> 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.
Santander Consumer USA Holdings's current Net Income (TTM) was 3,085. Santander Consumer USA Holdings's current Cash Flow from Operations (TTM) was 5,892.
==> 5,892 > 3,085 ==> 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: Sep21) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Sep20 to Sep21 |
= | 38431.858 | / | 48378.16 | |
= | 0.79440512 |
Gearing (Last Year: Sep20) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Sep19 to Sep20 |
= | 41369.347 | / | 47807.4182 | |
= | 0.86533322 |
Santander Consumer USA Holdings's gearing of this year was 0.79440512. Santander Consumer USA Holdings's gearing of last year was 0.86533322.
==> 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: Sep21) | = | Total Assets | / | Total Liabilities |
= | 49074.45 | / | 41141.72 | |
= | 1.19281474 |
Current Ratio (Last Year: Sep20) | = | Total Assets | / | Total Liabilities |
= | 48448.921 | / | 43354.109 | |
= | 1.11751624 |
Santander Consumer USA Holdings's current ratio of this year was 1.19281474. Santander Consumer USA Holdings's current ratio of last year was 1.11751624.
==> 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.
Santander Consumer USA Holdings's number of shares in issue this year was 306.379. Santander Consumer USA Holdings's number of shares in issue last year was 310.307.
==> 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 |
= | 3084.642 | / | 7104.805 | |
= | 0.4341628 |
Net Margin (Last Year: TTM) | = | Net Income | / | Revenue |
= | 535.512 | / | 6651.521 | |
= | 0.08050971 |
Santander Consumer USA Holdings's net margin of this year was 0.4341628. Santander Consumer USA Holdings's net margin of last year was 0.08050971.
==> 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 (Sep20) |
= | 7104.805 | / | 48448.921 | |
= | 0.14664527 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Sep19) |
= | 6651.521 | / | 47279.015 | |
= | 0.14068654 |
Santander Consumer USA Holdings's asset turnover of this year was 0.14664527. Santander Consumer USA Holdings's asset turnover of last year was 0.14068654.
==> 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 | + | 1 | + | 1 | + | 1 | + | 1 | + | 1 | |
= | 9 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Santander Consumer USA Holdings has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.
Santander Consumer USA Holdings (NYSE:SC) 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 Santander Consumer USA Holdings's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Banco Santander, S.a. | 10 percent owner | CIUDAD GRUPO SANTANDER BOADILLA DEL MONTE MADRID U3 28660 |
Santander Holdings Usa, Inc. | 10 percent owner | 75 STATE STREET BOSTON MA 02109 |
Mahesh Aditya | director, officer: President and CEO | 75 STATE STREET BOSTON MA 02109 |
Joshua Baer | officer: Chief Risk Officer | 1601 ELM STREET, SUITE 800 DALLAS TX 75201 |
Sandra M Broderick | officer: EVP, Head of Operations | C/O SANTANDER CONSUMER USA HOLDINGS INC. 1601 ELM STREET, SUITE 800 DALLAS TX 75201 |
Christopher Keith Pfirrman | officer: Chief Legal Officer | C/O SANTANDER CONSUMER USA HOLDINGS INC. 1601 ELM STREET SUITE 800 DALLAS TX 75201 |
Mikenzie Sari | officer: Chief Human Resources Officer | C/O SANTANDER CONSUMER USA HOLDINGS INC. 1601 ELM STREET, SUITE 800 DALLAS TX 75201 |
Shawn Allgood | officer: Please see remarks | 1601 ELM STREET, SUITE 800 DALLAS TX 75201 |
Stephen A. Ferriss | director | 785 CRANDON BOULEVARD APT 1605 KEY BISCAINE FL 33149 |
William J Rainer | director | 800 SCUDDERS MILL ROAD PLAINSBORO NJ 08536 |
Dr. Homaira Akbari | director | 13410 SUTTON PARK DRIVE SOUTH, JACKSONVILLE FL 32224 |
Edith E Holiday | director | FRANKLIN RESOURCES INC, 901 MARINERS ISLAND BLVD 6TH FL, SAN MATEO CA 94404 |
Robert Mccarthy | director | C/O SANTANDER CONSUMER USA HOLDINGS INC, 1601 ELM STREET, SUITE 800, DALLAS TX 75201 |
William F Muir | director | C/O SANTANDER CONSUMER USA HOLDINGS INC, 1601 ELM STREET SUITE 800, DALLAS TX 75201 |
Reza Leaali | officer: Chief Technology Officer | 1601 ELM STREET, SUITE 800 DALLAS TX 75201 |
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