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GROW (US Global Investors) Piotroski F-Score : 5 (As of Dec. 14, 2024)


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What is US Global Investors 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

US Global Investors 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 US Global Investors's Piotroski F-Score or its related term are showing as below:

GROW' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 8
Current: 5

During the past 13 years, the highest Piotroski F-Score of US Global Investors was 8. The lowest was 2. And the median was 5.


US Global Investors Piotroski F-Score Historical Data

The historical data trend for US Global Investors'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.

US Global Investors Piotroski F-Score Chart

US Global Investors Annual Data
Trend Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 7.00 6.00 5.00 5.00

US Global Investors 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 6.00 6.00 6.00 5.00 5.00

Competitive Comparison of US Global Investors's Piotroski F-Score

For the Asset Management subindustry, US Global Investors'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.


US Global Investors's Piotroski F-Score Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, US Global Investors's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where US Global Investors'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 1.229 + -0.035 + 0.315 + 0.315 = $1.82 Mil.
Cash Flow from Operations was 0.026 + -0.057 + 0.137 + 0.016 = $0.12 Mil.
Revenue was 2.818 + 2.593 + 2.44 + 2.157 = $10.01 Mil.
Gross Profit was 1.856 + 1.384 + 1.083 + 1.076 = $5.40 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(54.092 + 53.632 + 52.772 + 51.963 + 51.084) / 5 = $52.7086 Mil.
Total Assets at the begining of this year (Sep23) was $54.09 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Total Current Assets was $40.14 Mil.
Total Current Liabilities was $1.92 Mil.
Net Income was 0.847 + 1.62 + 0.629 + -0.176 = $2.92 Mil.

Revenue was 3.728 + 3.624 + 3.31 + 3.133 = $13.80 Mil.
Gross Profit was 2.598 + 2.36 + 2.081 + 1.859 = $8.90 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(59.323 + 54.951 + 55.745 + 55.673 + 54.092) / 5 = $55.9568 Mil.
Total Assets at the begining of last year (Sep22) was $59.32 Mil.
Long-Term Debt & Capital Lease Obligation was $0.03 Mil.
Total Current Assets was $40.51 Mil.
Total Current Liabilities was $2.83 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.

US Global Investors's current Net Income (TTM) was 1.82. ==> 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.

US Global Investors's current Cash Flow from Operations (TTM) was 0.12. ==> 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)
=1.824/54.092
=0.03372033

ROA (Last Year)=Net Income/Total Assets (Sep22)
=2.92/59.323
=0.04922206

US Global Investors's return on assets of this year was 0.03372033. US Global Investors's return on assets of last year was 0.04922206. ==> 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.

US Global Investors's current Net Income (TTM) was 1.82. US Global Investors's current Cash Flow from Operations (TTM) was 0.12. ==> 0.12 <= 1.82 ==> CFROA <= ROA ==> Score 0.

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
=0/52.7086
=0

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=0.032/55.9568
=0.00057187

US Global Investors's gearing of this year was 0. US Global Investors's gearing of last year was 0.00057187. ==> 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
=40.141/1.915
=20.9613577

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=40.509/2.828
=14.32425743

US Global Investors's current ratio of this year was 20.9613577. US Global Investors's current ratio of last year was 14.32425743. ==> 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.

US Global Investors's number of shares in issue this year was 13.715. US Global Investors's number of shares in issue last year was 14.466. ==> 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
=5.399/10.008
=0.53946843

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=8.898/13.795
=0.64501631

US Global Investors's gross margin of this year was 0.53946843. US Global Investors's gross margin of last year was 0.64501631. ==> Last year's gross margin is higher ==> Score 0.

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)
=10.008/54.092
=0.18501812

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=13.795/59.323
=0.2325405

US Global Investors's asset turnover of this year was 0.18501812. US Global Investors's asset turnover of last year was 0.2325405. ==> 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+0+1+1+1+0+0
=5

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

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

US Global Investors  (NAS:GROW) 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.


US Global Investors Piotroski F-Score Related Terms

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US Global Investors Business Description

Traded in Other Exchanges
Address
7900 Callaghan Road, San Antonio, TX, USA, 78229
US Global Investors Inc is a registered investment advisory firm. The company manages the following business segments: Investment management services; through which the company offers, to U.S. Global Investors Funds (USGIF or the Funds) and exchange-traded fund (ETF) clients, a range of investment management products and services to meet the needs of individual and institutional investors; and Corporate Investments, through which the company invests for its own account in an effort to add growth and value to its cash position. It derives all its revenue from Investment management services.
Executives
Frank E Holmes director, 10 percent owner, officer: CEO/CIO 7900 CALLAGHAN ROAD, SAN ANTONIO TX 78229
Jerold H Rubinstein director 9472 REMBERT LANE, BEVERLY HILLS CA 90210
Lydon Thomas F Jr director
Roy D Terracina director 7900 CALLAGHAN RD, SAN ANTONIO TX 78229
Lisa Callicotte officer: CFO 7900 CALLAGHAN ROAD, SAN ANTONIO TX 78229
Susan B Mcgee officer: President/General Counsel 7900 CALLAGHAN ROAD, SAN ANTONIO TX 78229
Catherine Ann Rademacher officer: Chief Financial Officer 7900 CALLAGHAN ROAD, SAN ANTONIO TX 78229
Praetorian Capital Management Llc 10 percent owner 3271 RIVIERA DRIVE, CORAL GABLES FL 33134
Tracy C Peterson officer: CFO/CAO