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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
AMC Networks 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 AMC Networks's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of AMC Networks was 7. The lowest was 4. And the median was 5.
The historical data trend for AMC Networks'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.
AMC Networks Annual Data | |||||||||||||||||||||
Trend | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | Dec24 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial |
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5.00 | 7.00 | 4.00 | 6.00 | 5.00 |
AMC Networks Quarterly Data | ||||||||||||||||||||
Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | Dec24 | |
Piotroski F-Score | Get a 7-Day Free Trial |
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6.00 | 7.00 | 6.00 | 6.00 | 5.00 |
For the Entertainment subindustry, AMC Networks'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 Media - Diversified industry and Communication Services sector, AMC Networks's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where AMC Networks'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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Net Income was 45.803 + -29.234 + 41.382 + -284.497 = $-227 Mil. Cash Flow from Operations was 150.869 + 104.403 + 62.235 + 58.108 = $376 Mil. Revenue was 596.461 + 625.934 + 599.614 + 599.305 = $2,421 Mil. Gross Profit was 324.885 + 345.207 + 311.868 + 306.761 = $1,289 Mil. Average Total Assets from the begining of this year (Dec23) to the end of this year (Dec24) was (4969.787 + 4911.556 + 4872.72 + 4825.409 + 4362.221) / 5 = $4788.3386 Mil. Total Assets at the begining of this year (Dec23) was $4,970 Mil. Long-Term Debt & Capital Lease Obligation was $2,393 Mil. Total Current Assets was $1,671 Mil. Total Current Liabilities was $703 Mil. |
Net Income was 103.61 + 70.239 + 63.424 + -21.809 = $215 Mil. Revenue was 717.447 + 678.628 + 636.954 + 678.848 = $2,712 Mil. Gross Profit was 390.718 + 356.667 + 352.054 + 284.938 = $1,384 Mil. Average Total Assets from the begining of last year (Dec22) to the end of last year (Dec23) was (5633.836 + 5463.238 + 5470.481 + 5390.785 + 4969.787) / 5 = $5385.6254 Mil. Total Assets at the begining of last year (Dec22) was $5,634 Mil. Long-Term Debt & Capital Lease Obligation was $2,381 Mil. Total Current Assets was $1,623 Mil. Total Current Liabilities was $943 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.
AMC Networks's current Net Income (TTM) was -227.
==> 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.
AMC Networks's current Cash Flow from Operations (TTM) was 376.
==> 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 (Dec23) |
= | -226.546 | / | 4969.787 | |
= | -0.04558465 |
ROA (Last Year) | = | Net Income | / | Total Assets (Dec22) |
= | 215.464 | / | 5633.836 | |
= | 0.03824463 |
AMC Networks's return on assets of this year was -0.04558465. AMC Networks's return on assets of last year was 0.03824463.
==> 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.
AMC Networks's current Net Income (TTM) was -227. AMC Networks's current Cash Flow from Operations (TTM) was 376.
==> 376 > -227 ==> 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: Dec24) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec23 to Dec24 |
= | 2393.3 | / | 4788.3386 | |
= | 0.49981845 |
Gearing (Last Year: Dec23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec22 to Dec23 |
= | 2381.489 | / | 5385.6254 | |
= | 0.44219358 |
AMC Networks's gearing of this year was 0.49981845. AMC Networks's gearing of last year was 0.44219358.
==> 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: Dec24) | = | Total Current Assets | / | Total Current Liabilities |
= | 1670.804 | / | 702.668 | |
= | 2.37780004 |
Current Ratio (Last Year: Dec23) | = | Total Current Assets | / | Total Current Liabilities |
= | 1623.37 | / | 943.423 | |
= | 1.72072337 |
AMC Networks's current ratio of this year was 2.37780004. AMC Networks's current ratio of last year was 1.72072337.
==> 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.
AMC Networks's number of shares in issue this year was 44.609. AMC Networks's number of shares in issue last year was 44.249.
==> 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.
Gross Margin (This Year: TTM) | = | Gross Profit | / | Revenue |
= | 1288.721 | / | 2421.314 | |
= | 0.53224035 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 1384.377 | / | 2711.877 | |
= | 0.51048665 |
AMC Networks's gross margin of this year was 0.53224035. AMC Networks's gross margin of last year was 0.51048665.
==> This year's gross 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 (Dec23) |
= | 2421.314 | / | 4969.787 | |
= | 0.4872068 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Dec22) |
= | 2711.877 | / | 5633.836 | |
= | 0.48135533 |
AMC Networks's asset turnover of this year was 0.4872068. AMC Networks's asset turnover of last year was 0.48135533.
==> 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 |
= | 0 | + | 1 | + | 0 | + | 1 | + | 0 | + | 1 | + | 0 | + | 1 | + | 1 | |
= | 5 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
AMC Networks has an F-score of 5 indicating the company's financial situation is typical for a stable company.
AMC Networks (NAS:AMCX) 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 AMC Networks's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Kimberly Kelleher | officer: Chief Commercial Officer | C/O REDBOX ENTERTAINMENT INC., 1 TOWER LANE, SUITE 800, OAKBROOK TERRACE IL 60181 |
Patrick O'connell | officer: EVP & Chief Financial Officer | 11 PENN PLAZA, NEW YORK CITY NY 10001 |
Sherin Michael J. Iii | officer: EVP, Chief Accounting Officer | 11 PENN PLAZA, NEW YORK CITY NY 10001 |
James Gallagher | officer: EVP and General Counsel | 11 PENN PLAZA, NEW YORK NY 10001 |
Matthew Blank | officer: Interim CEO | TWO PENNSYLVANIA PLAZA, NEW YORK NY 10121 |
Dan Mcdermott | officer: President - Ent. & AMC Studios | 2425 OLYMPIC BOULEVARD, SANTA MONICA CA 90404 |
Debra Golding Perelman | director | 35 EAST 62ND STREET, NEW YORK NY 10065 |
Dolan Leinauer Corby | other: Trustee of 13D Group Member | BAKER BOTTS L.L.P., 30 ROCKEFELLER PLAZA, NEW YORK NY 10112 |
Joseph Cohen | director | TWO PENNSYLVANIA PLAZA, NEW YORK NY 10121 |
Joshua W Sapan | officer: President and CEO | 11 PENN PLAZA, NEW YORK NY 10001 |
Christina Spade | officer: COO and CFO | 11 PENN PLAZA, NEW YORK NY 10001 |
Cfd 2021 Gc Trust Fbo Kevyn A. Dolan | other: Member of 13(d) Group | DOLAN FAMILY OFFICE,LLC, 340 CROSSWAYS PARK DRIVE, WOODBURY NY 11797 |
Cfd 2021 Gc Trust Fbo Tara E. Dolan | other: Member of 13(d) Group | DOLAN FAMILY OFFICE, LLC, 340 CROSSWAYS PARK DRIVE, WOODBURY NY 11797 |
Aidan J Dolan | director | 11 PENN PLAZA, NEW YORK NY 10001 |
Christian B. Wymbs | officer: EVP & Chief Accounting Officer | AMC NETWORKS INC., 11 PENN PLAZA, NEW YORK NY 10001 |
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