GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » South Plains Financial Inc (NAS:SPFI) » Definitions » Piotroski F-Score

South Plains Financial (South Plains Financial) Piotroski F-Score : 7 (As of May. 12, 2024)


View and export this data going back to 2019. Start your Free Trial

What is South Plains Financial Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, indicates a 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

South Plains Financial has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

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

SPFI' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 6   Max: 8
Current: 7

During the past 7 years, the highest Piotroski F-Score of South Plains Financial was 8. The lowest was 5. And the median was 6.


South Plains Financial Piotroski F-Score Historical Data

The historical data trend for South Plains Financial'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.

South Plains Financial Piotroski F-Score Chart

South Plains Financial Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial 6.00 8.00 7.00 6.00 7.00

South Plains Financial 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 5.00 7.00 7.00 7.00 7.00

Competitive Comparison of South Plains Financial's Piotroski F-Score

For the Banks - Regional subindustry, South Plains Financial'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.


South Plains Financial's Piotroski F-Score Distribution in the Banks Industry

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

* The bar in red indicates where South Plains Financial'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 (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was 29.683 + 13.494 + 10.324 + 10.874 = $64.4 Mil.
Cash Flow from Operations was 0.35 + 26.254 + 6.56 + 19.16 = $52.3 Mil.
Revenue was 43.48 + 46.225 + 42.87 + 45.38 = $178.0 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(4058.049 + 4150.129 + 4186.44 + 4204.793 + 4218.993) / 5 = $4163.6808 Mil.
Total Assets at the begining of this year (Mar23) was $4,058.0 Mil.
Long-Term Debt & Capital Lease Obligation was $110.2 Mil.
Total Assets was $4,219.0 Mil.
Total Liabilities was $3,810.3 Mil.
Net Income was 15.883 + 15.458 + 12.621 + 9.244 = $53.2 Mil.

Revenue was 54.612 + 54.64 + 47.672 + 43.654 = $200.6 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(3999.744 + 3974.724 + 3992.69 + 3944.063 + 4058.049) / 5 = $3993.854 Mil.
Total Assets at the begining of last year (Mar22) was $3,999.7 Mil.
Long-Term Debt & Capital Lease Obligation was $122.4 Mil.
Total Assets was $4,058.0 Mil.
Total Liabilities was $3,690.1 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.

South Plains Financial's current Net Income (TTM) was 64.4. ==> 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.

South Plains Financial's current Cash Flow from Operations (TTM) was 52.3. ==> 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 (Mar23)
=64.375/4058.049
=0.01586353

ROA (Last Year)=Net Income/Total Assets (Mar22)
=53.206/3999.744
=0.01330235

South Plains Financial's return on assets of this year was 0.01586353. South Plains Financial's return on assets of last year was 0.01330235. ==> 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.

South Plains Financial's current Net Income (TTM) was 64.4. South Plains Financial's current Cash Flow from Operations (TTM) was 52.3. ==> 52.3 <= 64.4 ==> CFROA <= ROA ==> Score 0.

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: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=110.214/4163.6808
=0.02647033

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=122.4/3993.854
=0.03064709

South Plains Financial's gearing of this year was 0.02647033. South Plains Financial's gearing of last year was 0.03064709. ==> 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: Mar24)=Total Assets/Total Liabilities
=4218.993/3810.281
=1.10726558

Current Ratio (Last Year: Mar23)=Total Assets/Total Liabilities
=4058.049/3690.085
=1.09971694

South Plains Financial's current ratio of this year was 1.10726558. South Plains Financial's current ratio of last year was 1.09971694. ==> 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.

South Plains Financial's number of shares in issue this year was 16.939. South Plains Financial's number of shares in issue last year was 17.561. ==> 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
=64.375/177.955
=0.36174876

Net Margin (Last Year: TTM)=Net Income/Revenue
=53.206/200.578
=0.26526339

South Plains Financial's net margin of this year was 0.36174876. South Plains Financial's net margin of last year was 0.26526339. ==> 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 (Mar23)
=177.955/4058.049
=0.04385235

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=200.578/3999.744
=0.05014771

South Plains Financial's asset turnover of this year was 0.04385235. South Plains Financial's asset turnover of last year was 0.05014771. ==> 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+1+0+1+1+1+1+0
=7

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

South Plains Financial has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

South Plains Financial  (NAS:SPFI) 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.


South Plains Financial Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of South Plains Financial's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


South Plains Financial (South Plains Financial) Business Description

Traded in Other Exchanges
Address
5219 City Bank Parkway, Lubbock, TX, USA, 79407
South Plains Financial Inc operates as a bank holding company. The company provides a wide range of commercial and consumer financial services to small and medium-sized businesses and individuals. The principal business activities include commercial and retail banking, along with insurance, investment, trust, and mortgage services. The company has two reportable segments: banking and insurance.
Executives
Richard D Campbell director, 10 percent owner 5219 CITY BANK PARKWAY, LUBBOCK TX 79407-3544
Curtis C Griffith director, 10 percent owner, officer: Chairman & CEO 5219 CITY BANK PARKWAY, LUBBOCK TX 79407-3544
Noe G Valles director 5219 CITY BANK PARKWAY, LUBBOCK TX 79407-3544
Newsom Cory T director, officer: President 5219 CITY BANK PARKWAY, LUBBOCK TX 79407-3544
Mikella D Newsom officer: Chief Risk Officer & Secretary 5219 CITY BANK PARKWAY, LUBBOCK TX 79407-3544
Kelly L. Deterding other: President - Windmark Insurance 5219 CITY BANK PARKWAY, LUBBOCK TX 79407-3544
Steven B Crockett officer: CFO and Treasurer 5219 CITY BANK PARKWAY, LUBBOCK TX 79407-3544
Kyle R Wargo director 5219 CITY BANK PARKWAY, LUBBOCK TX 79407-3544
Allison Navitskas director 511 E JOHN CARPENTER FREEWAY, IRVING TX 75062
Cynthia B Keith director 5219 CITY BANK PARKWAY, LUBBOCK TX 79407-3544
Kevin R Bass officer: Chief Credit Officer 5219 CITY BANK PARKWAY, LUBBOCK TX 79407-3544

South Plains Financial (South Plains Financial) Headlines