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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
SunCoke Energy Partners LP has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for SunCoke Energy Partners LP's Piotroski F-Score or its related term are showing as below:
The historical data trend for SunCoke Energy Partners LP'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.
SunCoke Energy Partners LP Annual Data | |||||||||||||||||||||
Trend | Dec09 | Dec10 | Dec11 | Dec12 | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 5.00 | 6.00 | 6.00 | 4.00 | 7.00 |
SunCoke Energy Partners LP Quarterly Data | ||||||||||||||||||||
Jun14 | Sep14 | Dec14 | Mar15 | Jun15 | Sep15 | Dec15 | Mar16 | Jun16 | Sep16 | Dec16 | Mar17 | Jun17 | Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | |
Piotroski F-Score | Get a 7-Day Free Trial | 6.00 | 7.00 | 7.00 | 7.00 | 6.00 |
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 (Mar19) TTM: | Last Year (Mar18) TTM: |
Net Income was 18.8 + 15.3 + 11.2 + 4.5 = $49.8 Mil. Cash Flow from Operations was 9.3 + 72.6 + 14.8 + 25.7 = $122.4 Mil. Revenue was 228.6 + 224.1 + 224.6 + 230.4 = $907.7 Mil. Gross Profit was 63.6 + 61.9 + 60 + 56.3 = $241.8 Mil. Average Total Assets from the begining of this year (Mar18) to the end of this year (Mar19) was (1668.7 + 1657 + 1654.1 + 1619.1 + 1633.8) / 5 = $1646.54 Mil. Total Assets at the begining of this year (Mar18) was $1,668.7 Mil. Long-Term Debt & Capital Lease Obligation was $788.3 Mil. Total Current Assets was $171.7 Mil. Total Current Liabilities was $120.7 Mil. |
Net Income was -12.9 + 22.6 + 101.5 + 12.2 = $123.4 Mil. Revenue was 200.6 + 214 + 235.4 + 214.8 = $864.8 Mil. Gross Profit was 51.2 + 67.8 + 79.7 + 57.7 = $256.4 Mil. Average Total Assets from the begining of last year (Mar17) to the end of last year (Mar18) was (1699 + 1677 + 1677.8 + 1641.4 + 1668.7) / 5 = $1672.78 Mil. Total Assets at the begining of last year (Mar17) was $1,699.0 Mil. Long-Term Debt & Capital Lease Obligation was $818.4 Mil. Total Current Assets was $172.2 Mil. Total Current Liabilities was $112.0 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.
SunCoke Energy Partners LP's current Net Income (TTM) was 49.8.
==> 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.
SunCoke Energy Partners LP's current Cash Flow from Operations (TTM) was 122.4.
==> 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 (Mar18) |
= | 49.8 | / | 1668.7 | |
= | 0.02984359 |
ROA (Last Year) | = | Net Income | / | Total Assets (Mar17) |
= | 123.4 | / | 1699 | |
= | 0.07263096 |
SunCoke Energy Partners LP's return on assets of this year was 0.02984359. SunCoke Energy Partners LP's return on assets of last year was 0.07263096.
==> 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.
SunCoke Energy Partners LP's current Net Income (TTM) was 49.8. SunCoke Energy Partners LP's current Cash Flow from Operations (TTM) was 122.4.
==> 122.4 > 49.8 ==> 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: Mar19) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Mar18 to Mar19 |
= | 788.3 | / | 1646.54 | |
= | 0.47876152 |
Gearing (Last Year: Mar18) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Mar17 to Mar18 |
= | 818.4 | / | 1672.78 | |
= | 0.48924545 |
SunCoke Energy Partners LP's gearing of this year was 0.47876152. SunCoke Energy Partners LP's gearing of last year was 0.48924545.
==> 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
Current Ratio (This Year: Mar19) | = | Total Current Assets | / | Total Current Liabilities |
= | 171.7 | / | 120.7 | |
= | 1.42253521 |
Current Ratio (Last Year: Mar18) | = | Total Current Assets | / | Total Current Liabilities |
= | 172.2 | / | 112 | |
= | 1.5375 |
SunCoke Energy Partners LP's current ratio of this year was 1.42253521. SunCoke Energy Partners LP's current ratio of last year was 1.5375.
==> 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.
SunCoke Energy Partners LP's number of shares in issue this year was 46.2. SunCoke Energy Partners LP's number of shares in issue last year was 46.2.
==> 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 |
= | 241.8 | / | 907.7 | |
= | 0.26638757 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 256.4 | / | 864.8 | |
= | 0.29648474 |
SunCoke Energy Partners LP's gross margin of this year was 0.26638757. SunCoke Energy Partners LP's gross margin of last year was 0.29648474.
==> 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
Asset Turnover (This Year) | = | Revenue | / | Total Assets at the Beginning of This Year (Mar18) |
= | 907.7 | / | 1668.7 | |
= | 0.54395637 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Mar17) |
= | 864.8 | / | 1699 | |
= | 0.5090053 |
SunCoke Energy Partners LP's asset turnover of this year was 0.54395637. SunCoke Energy Partners LP's asset turnover of last year was 0.5090053.
==> 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 | + | 0 | + | 1 | + | 1 | + | 0 | + | 1 | + | 0 | + | 1 | |
= | 6 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
SunCoke Energy Partners LP has an F-score of 6 indicating the company's financial situation is typical for a stable company.
SunCoke Energy Partners LP (NYSE:SXCP) 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 SunCoke Energy Partners LP's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Alvin Bledsoe | director | 801 CHERRY STREET, SUITE 3400, UNIT 20, FORT WORTH TX 76102 |
Martha Z. Carnes | director | 6316 WINDFERN ROAD, HOUSTON TX 77040 |
Phillip Michael Hardesty | director, officer: Senior Vice President | SUNCOKE ENERGY, INC., 1011 WARRENVILLE ROAD, STE 600, LISLE IL 60532 |
Allison S Lausas | officer: Vice President & Controller | C/O SUNCOKE ENERGY, INC., 1011 WARRENVILLE ROAD, SUITE 600, LISLE IL 60532 |
Somerhalder John W Ii | director | 76 SOUTH MAIN STREET, AKRON OH 44308 |
Michael G Rippey | director, officer: Chairman, President & CEO | C/O OLYMPIC STEEL, INC., 22901 MILLCREEK BLVD., HIGHLAND HILLS OH 44122 |
C. Scott Hobbs | director | FIVE TEK PARK, 9999 HAMILTON BOULEVARD, BREINIGSVILLE PA 18031 |
Nancy M Snyder | director | FOUR RADNOR CORPORATE CENTER, STE 200, RADNOR PA 19087 |
Gary P Yeaw | officer: Senior Vice President | 1011 WARRENVILLE ROAD, STE 600, LISLE IL 60532 |
Katherine T Gates | director, officer: Sr VP & General Counsel | 1011 WARRENVILLE ROAD, SUITE 600, LISLE IL 60532 |
Frederick A. Henderson | director, officer: Chairman and CEO | SUNCOKE ENERGY, INC., 1011 WARRENVILLE ROAD, SUITE 600, LISLE IL 60532 |
Mark Newman | director, officer: Senior VP and CFO | 1011 WARRENVILLE ROAD, SUITE 600, LISLE IL 60532 |
Michael J Thomson | director, officer: President and COO | SUNCOKE ENERGY, INC., 1011 WARRENVILLE ROAD, SUITE 600, LISLE IL 60532 |
Denise R Singleton | director, officer: See Remarks. | 3100 SANDERS ROAD, SUITE 301, NORTHBROOK IL 60062 |
Fay West | officer: Vice President and Controller | 1011 WARRENVILLE ROAD, SUITE 600, LISLE IL 60532 |
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