Piotroski F-Score is 8, 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
O'Reilly Automotive has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for O'Reilly Automotive's Piotroski F-Score or its related term are showing as below:
BSP:ORLY34'
s Piotroski F-Score Range Over the Past 10 Years
Min: 5 Med: 7 Max: 8
Current: 8
During the past 13 years, the highest Piotroski F-Score of O'Reilly Automotive was 8. The lowest was 5. And the median was 7.
O'Reilly Automotive Piotroski F-Score Historical Data
The historical data trend for O'Reilly Automotive'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 O'Reilly Automotive's Piotroski F-Score
For the Specialty Retail subindustry, O'Reilly Automotive'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.
O'Reilly Automotive's Piotroski F-Score Distribution in the Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, O'Reilly Automotive's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where O'Reilly Automotive'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 2692.247 + 3045.042 + 3209.301 + 2707.159 = R$11,654 Mil. Cash Flow from Operations was 3717.711 + 4550.853 + 4278.327 + 2530.399 = R$15,077 Mil. Revenue was 19312.78 + 19749.662 + 20759.233 + 18776.107 = R$78,598 Mil. Gross Profit was 9845.968 + 10127.643 + 10669.879 + 9640.009 = R$40,283 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(66238.801 + 67570.209 + 64440.745 + 66928.462 + 67974.901) / 5 = R$66630.6236 Mil. Total Assets at the begining of this year (Dec22) was R$66,239 Mil. Long-Term Debt & Capital Lease Obligation was R$36,511 Mil. Total Current Assets was R$27,235 Mil. Total Current Liabilities was R$37,539 Mil.
Net Income was 2398.028 + 2911.311 + 3069.803 + 2772.572 = R$11,152 Mil.
Revenue was 16402.269 + 18528.779 + 19918.439 + 19116.824 = R$73,966 Mil. Gross Profit was 8500.05 + 9513.491 + 10146.167 + 9724.73 = R$37,884 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(66268.116 + 58524.4 + 60914.074 + 64171.324 + 66238.801) / 5 = R$63223.343 Mil. Total Assets at the begining of last year (Dec21) was R$66,268 Mil. Long-Term Debt & Capital Lease Obligation was R$32,408 Mil. Total Current Assets was R$26,480 Mil. Total Current Liabilities was R$37,053 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.
O'Reilly Automotive's current Net Income (TTM) was 11,654.
==> 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.
O'Reilly Automotive's return on assets of this year was 0.17593539. O'Reilly Automotive's return on assets of last year was 0.16828174.
==> This year is higher. ==> Score 1.
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.
O'Reilly Automotive's current Net Income (TTM) was 11,654. O'Reilly Automotive's current Cash Flow from Operations (TTM) was 15,077.
==> 15,077 > 11,654 ==> 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.
O'Reilly Automotive's gearing of this year was 0.54795687. O'Reilly Automotive's gearing of last year was 0.51259077.
==> 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
O'Reilly Automotive's current ratio of this year was 0.72549875. O'Reilly Automotive's current ratio of last year was 0.71466447.
==> 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.
O'Reilly Automotive's number of shares in issue this year was 18493.673. O'Reilly Automotive's number of shares in issue last year was 19576.503.
==> 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.
O'Reilly Automotive's gross margin of this year was 0.51252717. O'Reilly Automotive's gross margin of last year was 0.51218504.
==> 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
O'Reilly Automotive's asset turnover of this year was 1.1865822. O'Reilly Automotive's asset turnover of last year was 1.1161674.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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8
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
O'Reilly Automotive has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
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.
O'Reilly Automotive Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of O'Reilly Automotive's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
O'Reilly Automotive (BSP:ORLY34) Business Description
O'Reilly Automotive is one of the largest sellers of aftermarket automotive parts, tools, and accessories, serving professional and DIY customers (44% and 56% of 2022 sales, respectively). The company sells branded as well as own-label products, with the latter category comprising nearly half of sales. O'Reilly had 5,971 stores as of the end of 2022, spread across 47 U.S. states and including 42 stores in Mexico. The firm serves professional and DIY customers through its stores and also employs approximately 725 sales personnel targeting commercial buyers.
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