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Renasant (Renasant) Piotroski F-Score : 5 (As of Apr. 26, 2024)


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What is Renasant Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Renasant has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Renasant's Piotroski F-Score or its related term are showing as below:

RNST' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 5   Max: 7
Current: 5

During the past 13 years, the highest Piotroski F-Score of Renasant was 7. The lowest was 4. And the median was 5.


Renasant Piotroski F-Score Historical Data

The historical data trend for Renasant'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.

* Premium members only.

Renasant Piotroski F-Score Chart

Renasant Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 4.00 6.00 4.00 5.00

Renasant Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 7.00 6.00 5.00 -

Competitive Comparison of Renasant's Piotroski F-Score

For the Banks - Regional subindustry, Renasant'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.


Renasant's Piotroski F-Score Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Renasant's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Renasant'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 46.078 + 28.643 + 41.833 + 28.124 = $144.7 Mil.
Cash Flow from Operations was -7.382 + -24.158 + 79.664 + 100.429 = $148.6 Mil.
Revenue was 173.068 + 147.442 + 165.583 + 145.689 = $631.8 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(16988.176 + 17474.083 + 17224.342 + 17181.621 + 17360.535) / 5 = $17245.7514 Mil.
Total Assets at the begining of this year (Dec22) was $16,988.2 Mil.
Long-Term Debt & Capital Lease Obligation was $429.4 Mil.
Total Assets was $17,360.5 Mil.
Total Liabilities was $15,063.2 Mil.
Net Income was 33.547 + 39.678 + 46.567 + 46.276 = $166.1 Mil.

Revenue was 137.087 + 150.729 + 171.504 + 171.231 = $630.6 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(16810.311 + 16863.757 + 16618.101 + 16471.099 + 16988.176) / 5 = $16750.2888 Mil.
Total Assets at the begining of last year (Dec21) was $16,810.3 Mil.
Long-Term Debt & Capital Lease Obligation was $428.1 Mil.
Total Assets was $16,988.2 Mil.
Total Liabilities was $14,852.2 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.

Renasant's current Net Income (TTM) was 144.7. ==> 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.

Renasant's current Cash Flow from Operations (TTM) was 148.6. ==> 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)
=144.678/16988.176
=0.00851639

ROA (Last Year)=Net Income/Total Assets (Dec21)
=166.068/16810.311
=0.00987894

Renasant's return on assets of this year was 0.00851639. Renasant's return on assets of last year was 0.00987894. ==> 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.

Renasant's current Net Income (TTM) was 144.7. Renasant's current Cash Flow from Operations (TTM) was 148.6. ==> 148.6 > 144.7 ==> 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
=429.4/17245.7514
=0.02489889

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=428.133/16750.2888
=0.02555974

Renasant's gearing of this year was 0.02489889. Renasant's gearing of last year was 0.02555974. ==> 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
=17360.535/15063.152
=1.15251675

Current Ratio (Last Year: Dec22)=Total Assets/Total Liabilities
=16988.176/14852.16
=1.14381854

Renasant's current ratio of this year was 1.15251675. Renasant's current ratio of last year was 1.14381854. ==> 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.

Renasant's number of shares in issue this year was 56.611. Renasant's number of shares in issue last year was 55.954. ==> 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.

* 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
=144.678/631.782
=0.22899988

Net Margin (Last Year: TTM)=Net Income/Revenue
=166.068/630.551
=0.26336966

Renasant's net margin of this year was 0.22899988. Renasant's net margin of last year was 0.26336966. ==> Last year's net 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 (Dec22)
=631.782/16988.176
=0.03718951

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=630.551/16810.311
=0.03750978

Renasant's asset turnover of this year was 0.03718951. Renasant's asset turnover of last year was 0.03750978. ==> 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+0+1+1+1+0+0+0
=5

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Renasant has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Renasant  (NYSE:RNST) 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.


Renasant Piotroski F-Score Related Terms

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Renasant (Renasant) Business Description

Traded in Other Exchanges
N/A
Address
209 Troy Street, Tupelo, MS, USA, 38804-4827
Renasant Corp operates as a holding company for Renasant Bank, a Mississippi banking corporation, and its subsidiary, Renasant Insurance, Inc. It has three reportable segments: community banks, insurance, and wealth management. With its community banks segment, the company provides a range of financial services to individuals and small businesses. Its insurance segment is an insurance agency providing commercial and personal insurance through third-party carriers. The wealth management segment provides a range of services including money management and retirement planning. The majority of the company's revenue is driven by lending activities in its community banks segment. Renasant Corporation operates in the southern United States.
Executives
Curtis J Perry officer: SEVP P.O. BOX 120, COLUMBUS GA 31902
John Foy director 1881 N PARC CIRCLE, TUPELO MS 38804
Rose J. Flenorl director 209 TROY STREET, TUPELO MS 38804
Holland Neal A Jr director PO BOX 1948, DECATUR AL 35602
Baxter Jimmy R. Iii officer: EVP/Chief Risk Officer 209 TROY ST, TUPELO MS 38804
James W Gray officer: Executive Vice President
John Creekmore director
Edward Robinson Mcgraw officer: CEO/Pres
Mabry James C. Iv officer: EVP and CFO 209 TROY STREET, TUPELO MS 38804
Kelly Hutcheson officer: EVP/Chief Accounting Officer 209 TROY STREET, TUPELO MS 38804
R Rick Hart director, officer: Sr Executive Vice President 916 CHANCERY LN, NASHVILLE TN 37205
Richard Heyer director
Gary D. Butler director 209 TROY STREET, TUPELO MS 38804
Bartow Jr Morgan officer: Executive Vice President 106 E CROGAN STREET, LAWRENCEVILLE GA 30046
Fred F Sharpe director C/O HERITAGE FINANCIAL GROUP, 721 N WESTOVER BOULEVARD, ALBANY GA 31707

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