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Sandstorm Gold (FRA:AYS1) Piotroski F-Score : 7 (As of Dec. 13, 2024)


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What is Sandstorm Gold Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, 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

Sandstorm Gold 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 Sandstorm Gold's Piotroski F-Score or its related term are showing as below:

FRA:AYS1' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Sandstorm Gold was 8. The lowest was 2. And the median was 6.


Sandstorm Gold Piotroski F-Score Historical Data

The historical data trend for Sandstorm Gold'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.

Sandstorm Gold Piotroski F-Score Chart

Sandstorm Gold Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 7.00 8.00 5.00 7.00

Sandstorm Gold Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
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 5.00 7.00 7.00 7.00 7.00

Competitive Comparison of Sandstorm Gold's Piotroski F-Score

For the Gold subindustry, Sandstorm Gold'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.


Sandstorm Gold's Piotroski F-Score Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Sandstorm Gold's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Sandstorm Gold'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 (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was 22.227 + -3.86 + 9.316 + 4.864 = €32.5 Mil.
Cash Flow from Operations was 35.525 + 29.764 + 31.944 + 29.307 = €126.5 Mil.
Revenue was 40.805 + 39.386 + 38.436 + 40.273 = €158.9 Mil.
Gross Profit was 18.675 + 18.736 + 20.628 + 23.013 = €81.1 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(1796.059 + 1771.118 + 1755.234 + 1755.182 + 1693.477) / 5 = €1754.214 Mil.
Total Assets at the begining of this year (Sep23) was €1,796.1 Mil.
Long-Term Debt & Capital Lease Obligation was €341.5 Mil.
Total Current Assets was €32.4 Mil.
Total Current Liabilities was €14.2 Mil.
Net Income was -2.226 + 14.635 + 1.891 + -0.226 = €14.1 Mil.

Revenue was 36.295 + 41.076 + 45.998 + 38.721 = €162.1 Mil.
Gross Profit was 12.556 + 18.124 + 20.727 + 19.111 = €70.5 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(1947.554 + 1864.189 + 1833.583 + 1788.042 + 1796.059) / 5 = €1845.8854 Mil.
Total Assets at the begining of last year (Sep22) was €1,947.6 Mil.
Long-Term Debt & Capital Lease Obligation was €428.8 Mil.
Total Current Assets was €41.8 Mil.
Total Current Liabilities was €22.0 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.

Sandstorm Gold's current Net Income (TTM) was 32.5. ==> 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.

Sandstorm Gold's current Cash Flow from Operations (TTM) was 126.5. ==> 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 (Sep23)
=32.547/1796.059
=0.01812134

ROA (Last Year)=Net Income/Total Assets (Sep22)
=14.074/1947.554
=0.0072265

Sandstorm Gold's return on assets of this year was 0.01812134. Sandstorm Gold's return on assets of last year was 0.0072265. ==> 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.

Sandstorm Gold's current Net Income (TTM) was 32.5. Sandstorm Gold's current Cash Flow from Operations (TTM) was 126.5. ==> 126.5 > 32.5 ==> 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: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=341.479/1754.214
=0.19466211

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=428.842/1845.8854
=0.2323232

Sandstorm Gold's gearing of this year was 0.19466211. Sandstorm Gold's gearing of last year was 0.2323232. ==> 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

Current Ratio (This Year: Sep24)=Total Current Assets/Total Current Liabilities
=32.439/14.163
=2.29040458

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=41.785/21.98
=1.90104641

Sandstorm Gold's current ratio of this year was 2.29040458. Sandstorm Gold's current ratio of last year was 1.90104641. ==> 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.

Sandstorm Gold's number of shares in issue this year was 299.915. Sandstorm Gold's number of shares in issue last year was 296.173. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=81.052/158.9
=0.51008181

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=70.518/162.09
=0.4350546

Sandstorm Gold's gross margin of this year was 0.51008181. Sandstorm Gold's gross margin of last year was 0.4350546. ==> 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 (Sep23)
=158.9/1796.059
=0.08847148

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=162.09/1947.554
=0.08322747

Sandstorm Gold's asset turnover of this year was 0.08847148. Sandstorm Gold's asset turnover of last year was 0.08322747. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+1+0+1+1
=8

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

Sandstorm Gold has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Sandstorm Gold  (FRA:AYS1) 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.


Sandstorm Gold Piotroski F-Score Related Terms

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Sandstorm Gold Business Description

Traded in Other Exchanges
Address
733 Seymour Street, Suite 3200, Vancouver, BC, CAN, V6B 5J3
Sandstorm Gold Ltd provides financing to companies engaged in gold mining through the gold stream and royalty. Geographically, the company has operational footprints in North America, South & Central America, Africa, and Asia & Australia. The firm's royalties include Hod Maden, Santa Elena, Chapada, Platreef, Greenstone, and Cerro Moro.

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