Piotroski F-Score is 9, 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
Popular has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Popular's Piotroski F-Score or its related term are showing as below:
BPOP'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 7 Max: 9
Current: 9
During the past 13 years, the highest Piotroski F-Score of Popular was 9. The lowest was 4. And the median was 7.
Popular Piotroski F-Score Historical Data
The historical data trend for Popular'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 Popular's Piotroski F-Score
For the Banks - Regional subindustry, Popular'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.
Popular's Piotroski F-Score Distribution in the Banks Industry
For the Banks industry and Financial Services sector, Popular's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Popular'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 103.283 + 177.789 + 155.323 + 177.817 = $614 Mil. Cash Flow from Operations was 161.563 + 80.441 + 233.235 + 199.483 = $675 Mil. Revenue was 680.368 + 695.522 + 702.235 + 720.395 = $2,799 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(70758.155 + 70936.939 + 72845.072 + 71323.074 + 73045.383) / 5 = $71781.7246 Mil. Total Assets at the begining of this year (Dec23) was $70,758 Mil. Long-Term Debt & Capital Lease Obligation was $1,023 Mil. Total Assets was $73,045 Mil. Total Liabilities was $67,432 Mil.
Net Income was 158.979 + 151.16 + 136.609 + 94.594 = $541 Mil.
Revenue was 659.708 + 655.338 + 655.67 + 673.462 = $2,644 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(67637.917 + 67675.759 + 70838.266 + 69736.936 + 70758.155) / 5 = $69329.4066 Mil. Total Assets at the begining of last year (Dec22) was $67,638 Mil. Long-Term Debt & Capital Lease Obligation was $1,140 Mil. Total Assets was $70,758 Mil. Total Liabilities was $65,611 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.
Popular's current Net Income (TTM) was 614.
==> 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.
Popular's gearing of this year was 0.01424641. Popular's gearing of last year was 0.01643851.
==> 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.
Popular's current ratio of this year was 1.08324. Popular's current ratio of last year was 1.07844625.
==> 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.
Popular's number of shares in issue this year was 70.758. Popular's number of shares in issue last year was 71.957.
==> 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.
Popular's net margin of this year was 0.21947744. Popular's net margin of last year was 0.20472979.
==> 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
Popular's asset turnover of this year was 0.03955049. Popular's asset turnover of last year was 0.03909313.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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9
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Popular has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.
Popular (NAS:BPOP) 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.
Popular Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Popular's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Popular Inc, based in Puerto Rico, is a financial holding company with four main subsidiaries: Banco Popular de Puerto Rico, a bank in Puerto Rico in terms of assets; Banco Popular North America, its banking operation in the continental United States; Evertec, a data processor; and Popular Financial Holdings, a diversified financial services company. The Corporation's reportable segments consist of Banco Popular de Puerto Rico and Popular U.S.
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