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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
Global Payments has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Global Payments's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Global Payments was 8. The lowest was 4. And the median was 6.
The historical data trend for Global Payments'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.
Global Payments Annual Data | |||||||||||||||||||||
Trend | May15 | May16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | Dec24 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial |
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4.00 | 8.00 | 6.00 | 8.00 | 7.00 |
Global Payments 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 |
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8.00 | 8.00 | 7.00 | 7.00 | 7.00 |
For the Specialty Business Services subindustry, Global Payments'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.
For the Business Services industry and Industrials sector, Global Payments's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Global Payments'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 313.307 + 374.76 + 315.125 + 567.173 = $1,570 Mil. Cash Flow from Operations was 416.317 + 736.882 + 1726.057 + 653.427 = $3,533 Mil. Revenue was 2420.187 + 2568.768 + 2601.552 + 2515.386 = $10,106 Mil. Gross Profit was 1497.797 + 1630.284 + 1654.607 + 1563.089 = $6,346 Mil. Average Total Assets from the begining of this year (Dec23) to the end of this year (Dec24) was (50570.186 + 51774.75 + 50752.158 + 49985.845 + 46890.255) / 5 = $49994.6388 Mil. Total Assets at the begining of this year (Dec23) was $50,570 Mil. Long-Term Debt & Capital Lease Obligation was $15,165 Mil. Total Current Assets was $6,037 Mil. Total Current Liabilities was $6,253 Mil. |
Net Income was -11.041 + 274.148 + 361.83 + 361.297 = $986 Mil. Revenue was 2292.447 + 2452.469 + 2475.691 + 2433.812 = $9,654 Mil. Gross Profit was 1344.694 + 1510.517 + 1560.16 + 1511.528 = $5,927 Mil. Average Total Assets from the begining of last year (Dec22) to the end of last year (Dec23) was (44809.014 + 48638.644 + 48150.88 + 48924.605 + 50570.186) / 5 = $48218.6658 Mil. Total Assets at the begining of last year (Dec22) was $44,809 Mil. Long-Term Debt & Capital Lease Obligation was $15,692 Mil. Total Current Assets was $8,074 Mil. Total Current Liabilities was $8,126 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.
Global Payments's current Net Income (TTM) was 1,570.
==> 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.
Global Payments's current Cash Flow from Operations (TTM) was 3,533.
==> 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) |
= | 1570.365 | / | 50570.186 | |
= | 0.03105318 |
ROA (Last Year) | = | Net Income | / | Total Assets (Dec22) |
= | 986.234 | / | 44809.014 | |
= | 0.02200972 |
Global Payments's return on assets of this year was 0.03105318. Global Payments's return on assets of last year was 0.02200972.
==> 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.
Global Payments's current Net Income (TTM) was 1,570. Global Payments's current Cash Flow from Operations (TTM) was 3,533.
==> 3,533 > 1,570 ==> 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 |
= | 15164.659 | / | 49994.6388 | |
= | 0.3033257 |
Gearing (Last Year: Dec23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec22 to Dec23 |
= | 15692.297 | / | 48218.6658 | |
= | 0.3254403 |
Global Payments's gearing of this year was 0.3033257. Global Payments's gearing of last year was 0.3254403.
==> 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: Dec24) | = | Total Current Assets | / | Total Current Liabilities |
= | 6036.67 | / | 6252.714 | |
= | 0.96544796 |
Current Ratio (Last Year: Dec23) | = | Total Current Assets | / | Total Current Liabilities |
= | 8073.759 | / | 8125.729 | |
= | 0.99360427 |
Global Payments's current ratio of this year was 0.96544796. Global Payments's current ratio of last year was 0.99360427.
==> 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.
Global Payments's number of shares in issue this year was 251.74. Global Payments's number of shares in issue last year was 262.562.
==> 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 |
= | 6345.777 | / | 10105.893 | |
= | 0.62792838 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 5926.899 | / | 9654.419 | |
= | 0.6139053 |
Global Payments's gross margin of this year was 0.62792838. Global Payments's gross margin of last year was 0.6139053.
==> 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) |
= | 10105.893 | / | 50570.186 | |
= | 0.19983895 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Dec22) |
= | 9654.419 | / | 44809.014 | |
= | 0.21545707 |
Global Payments's asset turnover of this year was 0.19983895. Global Payments's asset turnover of last year was 0.21545707.
==> 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 | + | 1 | + | 1 | + | 1 | + | 0 | + | 1 | + | 1 | + | 0 | |
= | 7 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Global Payments has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Global Payments (NYSE:GPN) 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.
Thank you for viewing the detailed overview of Global Payments's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Baldwin Robert H B Jr | director | C/O HEARTLAND PAYMENT SYSTEMS, INC., 90 NASSAU STREET, PRINCETON NJ 08542 |
Andrea M Carter | officer: Senior Executive VP and CHRO | 600 N. HURSTBOURNE PARKWAY, SUITE 400, LOUISVILLE KY 40222 |
David Lawrence Green | officer: EVP and General Counsel | 1431 FAIRVIEW ROAD NE, ATLANTA GA 30306 |
David M Sheffield | officer: Chief Accounting Officer | 10 GLENLAKE PARKWAY, NORTH TOWER, ATLANTA GA 30328 |
M Troy Woods | director | ONE TSYS WAY, COLUMBUS GA 31901 |
Kirsten Marie Kliphouse | director | 531 SOUTH SPRING STREET, BURLINGTON NC 27215 |
Joshua J Whipple | officer: Senior Executive VP and CFO | 3550 LENOX ROAD NE, ATLANTA GA 30326 |
Guido Francesco Sacchi | officer: EVP and CIO | 533 ORME CIRCLE NE, ATLANTA GA 30306 |
Jeffrey Steven Sloan | director, officer: CEO | 5048 NORTHSIDE DRIVE, ATLANTA GA 30327 |
John G Bruno | director | |
Silver Lake Group, L.l.c. | director | 2775 SAND HILL ROAD, SUITE 100, MENLO PARK CA 94025 |
Slp Galaxy Co-invest, L.p. | director | 2775 SAND HILL ROAD, SUITE 100, MENLO PARK CA 94025 |
Sla Ii Galaxy Holdings, L.p. | director | C/O SILVER LAKE, 2776 SAND HILL ROAD, SUITE 100, MENLO PARK CA 94025 |
Sla Ii Galaxy Gp, L.l.c. | director | C/O SILVER LAKE, 2776 SAND HILL ROAD, SUITE 100, MENLO PARK CA 94025 |
Sla Ii Galaxy Aggregator, L.p. | director | C/O SILVER LAKE, 2776 SAND HILL ROAD, SUITE 100, MENLO PARK CA 94025 |
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