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Murphy USA (FRA:1MU) Piotroski F-Score : 6 (As of Mar. 28, 2025)


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What is Murphy USA 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

Murphy USA 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 Murphy USA's Piotroski F-Score or its related term are showing as below:

FRA:1MU' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 6   Max: 7
Current: 6

During the past 13 years, the highest Piotroski F-Score of Murphy USA was 7. The lowest was 5. And the median was 6.


Murphy USA Piotroski F-Score Historical Data

The historical data trend for Murphy USA'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.

Murphy USA Piotroski F-Score Chart

Murphy USA Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 6.00 6.00 7.00 6.00

Murphy USA Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
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 7.00 6.00 6.00 6.00 6.00

Competitive Comparison of Murphy USA's Piotroski F-Score

For the Specialty Retail subindustry, Murphy USA'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.


Murphy USA's Piotroski F-Score Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Murphy USA's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Murphy USA's Piotroski F-Score falls into.


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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 60.72 + 134.519 + 134.429 + 136.088 = €466 Mil.
Cash Flow from Operations was 125.12 + 242.283 + 182.092 + 237.509 = €787 Mil.
Revenue was 4456.204 + 5064.629 + 4719.889 + 4498.432 = €18,739 Mil.
Gross Profit was 440.22 + 564.46 + 560.152 + 572.045 = €2,137 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(3979.872 + 3962.44 + 4115.377 + 3966.562 + 4337.228) / 5 = €4072.2958 Mil.
Total Assets at the begining of this year (Dec23) was €3,980 Mil.
Long-Term Debt & Capital Lease Obligation was €2,224 Mil.
Total Current Assets was €714 Mil.
Total Current Liabilities was €905 Mil.
Net Income was 99.284 + 122.574 + 157.135 + 137.55 = €517 Mil.

Revenue was 4742.105 + 5155.324 + 5432.632 + 4648.181 = €19,978 Mil.
Gross Profit was 483.345 + 529.064 + 591.809 + 542.405 = €2,147 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(3892.301 + 3847.333 + 3881.03 + 4034.066 + 3979.872) / 5 = €3926.9204 Mil.
Total Assets at the begining of last year (Dec22) was €3,892 Mil.
Long-Term Debt & Capital Lease Obligation was €2,049 Mil.
Total Current Assets was €758 Mil.
Total Current Liabilities was €800 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.

Murphy USA's current Net Income (TTM) was 466. ==> 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.

Murphy USA's current Cash Flow from Operations (TTM) was 787. ==> 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 (Dec23)
=465.756/3979.872
=0.11702788

ROA (Last Year)=Net Income/Total Assets (Dec22)
=516.543/3892.301
=0.1327089

Murphy USA's return on assets of this year was 0.11702788. Murphy USA's return on assets of last year was 0.1327089. ==> 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.

Murphy USA's current Net Income (TTM) was 466. Murphy USA's current Cash Flow from Operations (TTM) was 787. ==> 787 > 466 ==> 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: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=2224.195/4072.2958
=0.54617717

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=2049.495/3926.9204
=0.52190897

Murphy USA's gearing of this year was 0.54617717. Murphy USA's gearing of last year was 0.52190897. ==> 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

Current Ratio (This Year: Dec24)=Total Current Assets/Total Current Liabilities
=714.436/905.245
=0.78921839

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=757.9/800.358
=0.94695124

Murphy USA's current ratio of this year was 0.78921839. Murphy USA's current ratio of last year was 0.94695124. ==> 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.

Murphy USA's number of shares in issue this year was 20.458. Murphy USA's number of shares in issue last year was 21.312. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=2136.877/18739.154
=0.11403274

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2146.623/19978.242
=0.10744804

Murphy USA's gross margin of this year was 0.11403274. Murphy USA's gross margin of last year was 0.10744804. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec23)
=18739.154/3979.872
=4.70848158

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=19978.242/3892.301
=5.13275875

Murphy USA's asset turnover of this year was 4.70848158. Murphy USA's asset turnover of last year was 5.13275875. ==> 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+0+0+1+1+0
=5

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

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

Murphy USA  (FRA:1MU) 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.


Murphy USA Piotroski F-Score Related Terms

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Murphy USA Business Description

Traded in Other Exchanges
Address
200 Peach Street, El Dorado, AR, USA, 71730-5836
Murphy USA operates more than 1,700 fueling stations and convenience stores primarily across the Midwest and Southeastern United States. The firm owns about 75% of its locations, with most stores situated in high-traffic areas near Walmart supercenters. Murphy's stores typically range from 1,400-2,800 square feet, with most of its in-store sales derived from tobacco and nicotine products. The company acquired about 150 QuickChek stores in 2021, boosting its presence in grocery and foodservice. Murphy generates about two thirds of its profit from fuel retailing, with the remaining third coming from in-store sales.

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