Piotroski F-Score of 2 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
Big Lots has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for Big Lots's Piotroski F-Score or its related term are showing as below:
BIG'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 6 Max: 8
Current: 2
During the past 13 years, the highest Piotroski F-Score of Big Lots was 8. The lowest was 2. And the median was 6.
Big Lots Piotroski F-Score Historical Data
The historical data trend for Big Lots'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.
Competitive Comparison of Big Lots's Piotroski F-Score
For the Discount Stores subindustry, Big Lots'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.
Big Lots's Piotroski F-Score Distribution in the Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Big Lots's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Big Lots'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 (Jan24) TTM:
Last Year (Jan23) TTM:
Net Income was -206.073 + -249.837 + 4.743 + -30.709 = $-482 Mil. Cash Flow from Operations was -168.938 + 18.327 + -248.521 + 147.172 = $-252 Mil. Revenue was 1123.577 + 1139.361 + 1026.677 + 1432.484 = $4,722 Mil. Gross Profit was 392.469 + 375.884 + 373.815 + 544.443 = $1,687 Mil.
Average Total Assets from the begining of this year (Jan23)
to the end of this year (Jan24) was
(3690.931 + 3657.735 + 3379.688 + 3625.489 + 3325.309) / 5 = $3535.8304 Mil. Total Assets at the begining of this year (Jan23) was $3,691 Mil. Long-Term Debt & Capital Lease Obligation was $2,023 Mil. Total Current Assets was $1,086 Mil. Total Current Liabilities was $831 Mil.
Net Income was -11.082 + -84.15 + -103.013 + -12.463 = $-211 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.
Big Lots's current Net Income (TTM) was -482.
==> 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.
Big Lots's return on assets of this year was -0.13055676. Big Lots's return on assets of last year was -0.05365277.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Big Lots's current ratio of this year was 1.306857. Big Lots's current ratio of last year was 1.39730218.
==> 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.
Big Lots's number of shares in issue this year was 29.224. Big Lots's number of shares in issue last year was 28.956.
==> 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.
Big Lots's gross margin of this year was 0.357174. Big Lots's gross margin of last year was 0.34992463.
==> 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
Big Lots's asset turnover of this year was 1.27937883. Big Lots's asset turnover of last year was 1.39240558.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Big Lots has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
Big Lots (NYSE:BIG) 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.
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.
Big Lots Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Big Lots's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Big Lots Inc is principally engaged in operating discount retail stores. The company provides a broad range of merchandise, including food, consumables, soft home products, hard home products, furniture, electronics and accessories, and seasonal products. The company sources the merchandise from traditional and close-out channels. In addition to merchandise, the company sells gift cards, issues merchandise credits, and more. The company operates stores throughout the United States, with around one-third of its stores in California, Texas, Ohio, and Florida.
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