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Stratus Properties (Stratus Properties) Piotroski F-Score : 1 (As of Apr. 24, 2024)


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What is Stratus Properties Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 1 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Stratus Properties has an F-score of 1. It is a bad or low score, which usually implies poor business operation.

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

STRS' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 3   Max: 6
Current: 1

During the past 13 years, the highest Piotroski F-Score of Stratus Properties was 6. The lowest was 1. And the median was 3.


Stratus Properties Piotroski F-Score Historical Data

The historical data trend for Stratus Properties'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.

Stratus Properties Piotroski F-Score Chart

Stratus Properties 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 2.00 3.00 6.00 1.00

Stratus Properties Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 6.00 6.00 2.00 2.00 1.00

Competitive Comparison of Stratus Properties's Piotroski F-Score

For the Real Estate - Diversified subindustry, Stratus Properties'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.


Stratus Properties's Piotroski F-Score Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Stratus Properties's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Stratus Properties'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 -5.801 + -5.301 + -2.844 + -0.861 = $-14.81 Mil.
Cash Flow from Operations was -18.404 + -8.35 + -12.546 + -11.954 = $-51.25 Mil.
Revenue was 5.802 + 3.53 + 3.669 + 4.269 = $17.27 Mil.
Gross Profit was -0.874 + -1.281 + -0.146 + 0.522 = $-1.78 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(445.14 + 479.719 + 485.755 + 502.021 + 517.766) / 5 = $486.0802 Mil.
Total Assets at the begining of this year (Dec22) was $445.14 Mil.
Long-Term Debt & Capital Lease Obligation was $175.35 Mil.
Total Current Assets was $39.81 Mil.
Total Current Liabilities was $40.69 Mil.
Net Income was 2.272 + 96.621 + -2.36 + -6.107 = $90.43 Mil.

Revenue was 3.099 + 11.125 + 9.977 + 13.297 = $37.50 Mil.
Gross Profit was -0.124 + 3.939 + 1.492 + 0.405 = $5.71 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(541.226 + 544.768 + 484.66 + 462.837 + 445.14) / 5 = $495.7262 Mil.
Total Assets at the begining of last year (Dec21) was $541.23 Mil.
Long-Term Debt & Capital Lease Obligation was $132.25 Mil.
Total Current Assets was $47.48 Mil.
Total Current Liabilities was $31.18 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.

Stratus Properties's current Net Income (TTM) was -14.81. ==> 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.

Score 1 if positive, 0 if negative.

Stratus Properties's current Cash Flow from Operations (TTM) was -51.25. ==> Negative ==> Score 0.

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)
=-14.807/445.14
=-0.03326369

ROA (Last Year)=Net Income/Total Assets (Dec21)
=90.426/541.226
=0.16707623

Stratus Properties's return on assets of this year was -0.03326369. Stratus Properties's return on assets of last year was 0.16707623. ==> 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.

Stratus Properties's current Net Income (TTM) was -14.81. Stratus Properties's current Cash Flow from Operations (TTM) was -51.25. ==> -51.25 <= -14.81 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=175.352/486.0802
=0.36074705

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=132.247/495.7262
=0.26677428

Stratus Properties's gearing of this year was 0.36074705. Stratus Properties's gearing of last year was 0.26677428. ==> Last year is lower than this year ==> Score 0.

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: Dec23)=Total Current Assets/Total Current Liabilities
=39.814/40.692
=0.97842328

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=47.482/31.178
=1.52293284

Stratus Properties's current ratio of this year was 0.97842328. Stratus Properties's current ratio of last year was 1.52293284. ==> 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.

Stratus Properties's number of shares in issue this year was 7.294. Stratus Properties's number of shares in issue last year was 8.114. ==> 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
=-1.779/17.27
=-0.103011

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=5.712/37.498
=0.15232812

Stratus Properties's gross margin of this year was -0.103011. Stratus Properties's gross margin of last year was 0.15232812. ==> 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 (Dec22)
=17.27/445.14
=0.03879678

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=37.498/541.226
=0.06928344

Stratus Properties's asset turnover of this year was 0.03879678. Stratus Properties's asset turnover of last year was 0.06928344. ==> 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
=0+0+0+0+0+0+1+0+0
=1

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

Stratus Properties has an F-score of 1. It is a bad or low score, which usually implies poor business operation.

Stratus Properties  (NAS:STRS) 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.


Stratus Properties Piotroski F-Score Related Terms

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Stratus Properties (Stratus Properties) Business Description

Traded in Other Exchanges
Address
212 Lavaca Street, Suite 300, Austin, TX, USA, 78701
Stratus Properties Inc is a diversified real estate company operating in the United States. It is engaged in the acquisition, entitlement, development, management, operation and sale of commercial, multi- and single-family residential real estate properties, located in the Austin Texas area and other select markets in Texas. It operates its business through two segments namely, Real Estate Operations and Leasing Operations.
Executives
Rhone Neville L. Jr. director 212 LAVACA STREET, SUITE 300, AUSTIN TX 78701
Kate Henriksen director 212 LAVACA STREET, SUITE 300, AUSTIN TX 78701
Laurie L. Dotter director 3615 WEST LAWTHER DRIVE, DALLAS TX 75214
Michael D Madden director 98 SAN JACINTO BLVD, STE 220, AUSTIN TX 78701
James Joseph director
Charles W. Porter director 212 LAVACA STREET, SUITE 300, AUSTIN TX 78701
James Leslie director 5924 ROYAL LANE, SUITE 250, DALLAS TX 75230
Erin D Pickens officer: Senior VP & CFO 1775 BROADWAY 23RD FLR, NEW YORK NY 10019
Armstrong William H Iii director, officer: Chair of Board, President, CEO 98 SAN JACINTO BLVD, STE 220, AUSTIN TX 78701
Oasis Investments Ii Master Fund Ltd. 10 percent owner UGLAND HOUSE PO BOX 309, GRAND CAYMAN E9 KY1-1104
Ella Gendel director 300 WEST 6TH STREET, SUITE 1550, AUSTIN TX 78701
Carl E Berg 10 percent owner, other: See Remarks C/O BERG & BERG DEVELOPERS, 10050 BANDLEY DR, CUPERTINO CA 95014
Seth Fischer 10 percent owner C/O OASIS MANAGEMENT (HONG KONG) LLC, 21/F MAN YEE BUILDING, 68 DES VOEUX ROAD, CENTRAL K3
Oasis Management Co Ltd. 10 percent owner 4TH FLOOR ANDERSON SQUARE,, 64 SHEDDEN ROAD, P.O. BOX 10324, GRAND CAYMAN E9 KY-1103
David M Dean other: See Remarks 16200 ADDISON ROAD, SUITE 220, ADDISON TX 75001

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