Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Good Times Restaurants has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Good Times Restaurants's Piotroski F-Score or its related term are showing as below:
GTIM'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 8
Current: 6
During the past 13 years, the highest Piotroski F-Score of Good Times Restaurants was 8. The lowest was 2. And the median was 5.
Good Times Restaurants Piotroski F-Score Historical Data
The historical data trend for Good Times Restaurants'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.
Good Times Restaurants Annual Data
Trend
Sep14
Sep15
Sep16
Sep17
Sep18
Sep19
Sep20
Sep21
Sep22
Sep23
Piotroski F-Score
3.00
5.00
6.00
6.00
6.00
Good Times Restaurants Quarterly Data
Mar19
Jun19
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Dec19
Mar20
Jun20
Sep20
Dec20
Mar21
Jun21
Sep21
Dec21
Mar22
Jun22
Sep22
Dec22
Mar23
Jun23
Sep23
Dec23
Piotroski F-Score
5.00
5.00
6.00
6.00
6.00
Competitive Comparison
For the Restaurants subindustry, Good Times Restaurants'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.
Good Times Restaurants Piotroski F-Score Distribution
For the Restaurants industry and Consumer Cyclical sector, Good Times Restaurants's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Good Times Restaurants'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.
*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.
Good Times Restaurants's current Net Income (TTM) was 10.7.
==> 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.
Good Times Restaurants's return on assets of this year was 0.1265106. Good Times Restaurants's return on assets of last year was -0.0331713.
==> 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.
Good Times Restaurants's current Net Income (TTM) was 10.7. Good Times Restaurants's current Cash Flow from Operations (TTM) was 7.9.
==> 7.9 <= 10.7 ==> 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.
Good Times Restaurants's gearing of this year was 0.47315356. Good Times Restaurants's gearing of last year was 0.49315592.
==> 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
Good Times Restaurants's current ratio of this year was 0.45083344. Good Times Restaurants's current ratio of last year was 0.84796367.
==> 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.
Good Times Restaurants's number of shares in issue this year was 11.378. Good Times Restaurants's number of shares in issue last year was 12.042.
==> 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.
Good Times Restaurants's gross margin of this year was 0.10545481. Good Times Restaurants's gross margin of last year was 0.11008956.
==> 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
Good Times Restaurants's asset turnover of this year was 1.63655357. Good Times Restaurants's asset turnover of last year was 1.48487055.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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1
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Good Times Restaurants has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Good Times Restaurants (NAS:GTIM) 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.
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.
Good Times Restaurants Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Good Times Restaurants's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Good Times Restaurants (Good Times Restaurants) Business Description
Good Times Restaurants Inc is engaged in developing, owning, operating, and franchising hamburger-oriented drive-through restaurants. It operates through two segments: Good Times Burgers and Frozen Custard restaurants which operate in the quick-service drive-through dining industry; and Bad Daddy's Burger Bar restaurants which operate in the full-service upscale casual dining industry. The company generates maximum revenue from the Bad Daddy's Burger Bar restaurants segment. Its menu categories include burgers; chicken; kids; breakfast; frozen custard; slides and drinks.
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