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SRC Energy (SRC Energy) Piotroski F-Score : 0 (As of May. 12, 2024)


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What is SRC Energy 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

SRC Energy 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 SRC Energy's Piotroski F-Score or its related term are showing as below:


SRC Energy Piotroski F-Score Historical Data

The historical data trend for SRC Energy'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.

SRC Energy Piotroski F-Score Chart

SRC Energy Annual Data
Trend Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Dec16 Dec17 Dec18
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 4.00 4.00 7.00 5.00

SRC Energy Quarterly Data
Nov14 Feb15 May15 Aug15 Nov15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19
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 5.00 4.00 5.00 5.00

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 (Sep19) TTM:Last Year (Sep18) TTM:
Net Income was 81.974 + 49.751 + 54.468 + 29.795 = $216.0 Mil.
Cash Flow from Operations was 177.589 + 160.673 + 140.91 + 127.722 = $606.9 Mil.
Revenue was 190.343 + 189.455 + 162.602 + 134.094 = $676.5 Mil.
Gross Profit was 102.788 + 104.091 + 78.16 + 52.473 = $337.5 Mil.
Average Total Assets from the begining of this year (Sep18)
to the end of this year (Sep19) was
(2578.932 + 2754.714 + 2796.663 + 2785.086 + 2867.572) / 5 = $2756.5934 Mil.
Total Assets at the begining of this year (Sep18) was $2,578.9 Mil.
Long-Term Debt & Capital Lease Obligation was $705.3 Mil.
Total Current Assets was $179.6 Mil.
Total Current Liabilities was $296.6 Mil.
Net Income was 50.818 + 65.796 + 49.624 + 62.628 = $228.9 Mil.

Revenue was 140.097 + 147.233 + 147.087 + 160.978 = $595.4 Mil.
Gross Profit was 79.443 + 88.813 + 78.54 + 92.606 = $339.4 Mil.
Average Total Assets from the begining of last year (Sep17)
to the end of last year (Sep18) was
(1437.906 + 2079.564 + 2207.006 + 2282.546 + 2578.932) / 5 = $2117.1908 Mil.
Total Assets at the begining of last year (Sep17) was $1,437.9 Mil.
Long-Term Debt & Capital Lease Obligation was $654.1 Mil.
Total Current Assets was $171.7 Mil.
Total Current Liabilities was $353.1 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.

SRC Energy's current Net Income (TTM) was 216.0. ==> 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.

SRC Energy's current Cash Flow from Operations (TTM) was 606.9. ==> 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 (Sep18)
=215.988/2578.932
=0.08375095

ROA (Last Year)=Net Income/Total Assets (Sep17)
=228.866/1437.906
=0.15916618

SRC Energy's return on assets of this year was 0.08375095. SRC Energy's return on assets of last year was 0.15916618. ==> 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.

SRC Energy's current Net Income (TTM) was 216.0. SRC Energy's current Cash Flow from Operations (TTM) was 606.9. ==> 606.9 > 216.0 ==> 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: Sep19)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep18 to Sep19
=705.293/2756.5934
=0.25585674

Gearing (Last Year: Sep18)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep17 to Sep18
=654.05/2117.1908
=0.3089235

SRC Energy's gearing of this year was 0.25585674. SRC Energy's gearing of last year was 0.3089235. ==> 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: Sep19)=Total Current Assets/Total Current Liabilities
=179.587/296.554
=0.60557942

Current Ratio (Last Year: Sep18)=Total Current Assets/Total Current Liabilities
=171.703/353.077
=0.48630469

SRC Energy's current ratio of this year was 0.60557942. SRC Energy's current ratio of last year was 0.48630469. ==> 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.

SRC Energy's number of shares in issue this year was 244.548. SRC Energy's number of shares in issue last year was 243.56. ==> 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
=337.512/676.494
=0.49891352

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=339.402/595.395
=0.5700451

SRC Energy's gross margin of this year was 0.49891352. SRC Energy's gross margin of last year was 0.5700451. ==> 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 (Sep18)
=676.494/2578.932
=0.26231556

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep17)
=595.395/1437.906
=0.41407088

SRC Energy's asset turnover of this year was 0.26231556. SRC Energy's asset turnover of last year was 0.41407088. ==> 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

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

SRC Energy  (AMEX:SRCI) 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.


SRC Energy Piotroski F-Score Related Terms

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SRC Energy (SRC Energy) Business Description

Traded in Other Exchanges
N/A
Address
1675 Broadway, Suite 2600, Denver, CO, USA, 80202
SRC Energy Inc, formerly Synergy Resources Corp is an oil & natural gas company. It is engaged in the acquisition, development, exploitation, exploration and production of oil and natural gas properties.
Executives
Lynn A Peterson director, officer: President, CEO 1625 BROADWAY, SUITE 250, DENVER CO 80202
James P Henderson officer: EVP & Chief Financial Officer 1625 BROADWAY, SUITE 250, DENVER CO 80202
Paul Korus director C/O CIIRMAREX ENERGY CO, 707 17TH ST. #3300, DENVER CO 80202-3404
Jack N Aydin director 6 DEFOREST CORT, W. NYACK NY 10094
Rick Wilber director
Frank L Jennings officer: Chief Accounting Officer 5455 SPINE ROAD SUITE C, BOULDER CO 80301
Bill M Conrad director 2886 CARRIAGE MANOR POINT, COLO SPGS CO 80906

SRC Energy (SRC Energy) Headlines

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