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
Alphabet(Google) 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 Alphabet(Google)'s Piotroski F-Score or its related term are showing as below:
BUE:GOOGL'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 8
Current: 8
During the past 13 years, the highest Piotroski F-Score of Alphabet(Google) was 8. The lowest was 4. And the median was 6.
Alphabet(Google) Piotroski F-Score Historical Data
The historical data trend for Alphabet(Google)'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 Alphabet(Google)'s Piotroski F-Score
For the Internet Content & Information subindustry, Alphabet(Google)'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.
Alphabet(Google)'s Piotroski F-Score Distribution in the Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Alphabet(Google)'s Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Alphabet(Google)'s Piotroski F-Score falls into.
* 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 19935235.339 + 21150814.198 + 24999099.401 + 26801360.268 = ARS92,886,509 Mil. Cash Flow from Operations was 24304440.413 + 23856119.659 + 29178447.718 + 39504130.395 = ARS116,843,138 Mil. Revenue was 67854108.654 + 75886459.915 + 83898730.313 + 97433690.974 = ARS325,072,990 Mil. Gross Profit was 39451748.171 + 44089941.87 + 49230194.836 + 56414560.564 = ARS189,186,445 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(145263512.131 + 343192380.834 + 371426529.689 + 408967815.026 + 454758564.548) / 5 = ARS344721760.4456 Mil. Total Assets at the begining of this year (Dec23) was ARS145,263,512 Mil. Long-Term Debt & Capital Lease Obligation was ARS22,799,740 Mil. Total Current Assets was ARS165,348,112 Mil. Total Current Liabilities was ARS90,013,221 Mil.
Net Income was 2973325.119 + 4408319.965 + 6890165.74 + 7468007.007 = ARS21,739,818 Mil.
Revenue was 13786422.171 + 17904959.857 + 26838716.089 + 31157910.028 = ARS89,688,008 Mil. Gross Profit was 7739021.43 + 10245119.918 + 15210227.219 + 17593335.016 = ARS50,787,704 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(61236507.906 + 72992948.749 + 91930559.265 + 138829018.275 + 145263512.131) / 5 = ARS102050509.2652 Mil. Total Assets at the begining of last year (Dec22) was ARS61,236,508 Mil. Long-Term Debt & Capital Lease Obligation was ARS8,783,130 Mil. Total Current Assets was ARS61,922,330 Mil. Total Current Liabilities was ARS29,534,854 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.
Alphabet(Google)'s current Net Income (TTM) was 92,886,509.
==> 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.
Alphabet(Google)'s current Cash Flow from Operations (TTM) was 116,843,138.
==> 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.
Alphabet(Google)'s return on assets of this year was 0.63943455. Alphabet(Google)'s return on assets of last year was 0.355014.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Alphabet(Google)'s gearing of this year was 0.06613954. Alphabet(Google)'s gearing of last year was 0.0860665.
==> 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
Alphabet(Google)'s current ratio of this year was 1.8369314. Alphabet(Google)'s current ratio of last year was 2.09658494.
==> 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.
Alphabet(Google)'s number of shares in issue this year was 425.793. Alphabet(Google)'s number of shares in issue last year was 434.655.
==> 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.
Alphabet(Google)'s gross margin of this year was 0.58198144. Alphabet(Google)'s gross margin of last year was 0.56627084.
==> 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
Alphabet(Google)'s asset turnover of this year was 2.23781585. Alphabet(Google)'s asset turnover of last year was 1.46461663.
==> 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
Alphabet(Google) 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.
Alphabet(Google) Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Alphabet(Google)'s Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Alphabet is a holding company that wholly owns internet giant Google. The California-based company derives slightly less than 90% of its revenue from Google services, the vast majority of which is advertising sales. Alongside online ads, Google services houses sales stemming from Google's subscription services (YouTube TV, YouTube Music among others), platforms (sales and in-app purchases on Play Store), and devices (Chromebooks, Pixel smartphones, and smart home products such as Chromecast). Google's cloud computing platform, or GCP, accounts for roughly 10% of Alphabet's revenue with the firm's investments in up-and-coming technologies such as self-driving cars (Waymo), health (Verily), and internet access (Google Fiber) making up the rest.
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