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The Kroger Co (MEX:KR) Piotroski F-Score : 6 (As of Dec. 12, 2024)


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What is The Kroger Co 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

The Kroger Co 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 The Kroger Co's Piotroski F-Score or its related term are showing as below:

MEX:KR' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 7   Max: 8
Current: 6

During the past 13 years, the highest Piotroski F-Score of The Kroger Co was 8. The lowest was 4. And the median was 7.


The Kroger Co Piotroski F-Score Historical Data

The historical data trend for The Kroger Co'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.

The Kroger Co Piotroski F-Score Chart

The Kroger Co Annual Data
Trend Jan15 Jan16 Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 8.00 5.00 7.00 7.00

The Kroger Co Quarterly Data
Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24
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 7.00 6.00 7.00 6.00

Competitive Comparison of The Kroger Co's Piotroski F-Score

For the Grocery Stores subindustry, The Kroger Co'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.


The Kroger Co's Piotroski F-Score Distribution in the Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, The Kroger Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where The Kroger Co'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 (Oct24) TTM:Last Year (Oct23) TTM:
Net Income was 12641.683 + 16159.797 + 8666.435 + 12379.405 = MXN49,847 Mil.
Cash Flow from Operations was 32978.304 + 39674.265 + 21182.553 + 18549.076 = MXN112,384 Mil.
Revenue was 636618.677 + 772479.269 + 630678.42 + 673736.107 = MXN2,713,512 Mil.
Gross Profit was 144640.78 + 173116.309 + 142289.473 + 153961.34 = MXN614,008 Mil.
Average Total Assets from the begining of this year (Oct23)
to the end of this year (Oct24) was
(921082.114 + 867793.153 + 880154.371 + 956711.193 + 1250319.924) / 5 = MXN975212.151 Mil.
Total Assets at the begining of this year (Oct23) was MXN921,082 Mil.
Long-Term Debt & Capital Lease Obligation was MXN579,428 Mil.
Total Current Assets was MXN501,286 Mil.
Total Current Liabilities was MXN325,991 Mil.
Net Income was 8477.898 + 17303.975 + -3009.294 + 11662.238 = MXN34,435 Mil.

Revenue was 654583.956 + 812405.438 + 565964.61 + 613025.722 = MXN2,645,980 Mil.
Gross Profit was 142413.648 + 181403.938 + 123347.617 + 135036.44 = MXN582,202 Mil.
Average Total Assets from the begining of last year (Oct22)
to the end of last year (Oct23) was
(992141.976 + 932813.155 + 902846.588 + 839292.096 + 921082.114) / 5 = MXN917635.1858 Mil.
Total Assets at the begining of last year (Oct22) was MXN992,142 Mil.
Long-Term Debt & Capital Lease Obligation was MXN333,024 Mil.
Total Current Assets was MXN242,614 Mil.
Total Current Liabilities was MXN303,020 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.

The Kroger Co's current Net Income (TTM) was 49,847. ==> 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.

The Kroger Co's current Cash Flow from Operations (TTM) was 112,384. ==> 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 (Oct23)
=49847.32/921082.114
=0.05411822

ROA (Last Year)=Net Income/Total Assets (Oct22)
=34434.817/992141.976
=0.03470755

The Kroger Co's return on assets of this year was 0.05411822. The Kroger Co's return on assets of last year was 0.03470755. ==> 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.

The Kroger Co's current Net Income (TTM) was 49,847. The Kroger Co's current Cash Flow from Operations (TTM) was 112,384. ==> 112,384 > 49,847 ==> 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: Oct24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Oct23 to Oct24
=579428.276/975212.151
=0.59415613

Gearing (Last Year: Oct23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Oct22 to Oct23
=333023.691/917635.1858
=0.36291513

The Kroger Co's gearing of this year was 0.59415613. The Kroger Co's gearing of last year was 0.36291513. ==> 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: Oct24)=Total Current Assets/Total Current Liabilities
=501285.785/325991.003
=1.5377289

Current Ratio (Last Year: Oct23)=Total Current Assets/Total Current Liabilities
=242614.267/303019.605
=0.80065535

The Kroger Co's current ratio of this year was 1.5377289. The Kroger Co's current ratio of last year was 0.80065535. ==> 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.

The Kroger Co's number of shares in issue this year was 728. The Kroger Co's number of shares in issue last year was 725. ==> 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
=614007.902/2713512.473
=0.2262779

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=582201.643/2645979.726
=0.22003254

The Kroger Co's gross margin of this year was 0.2262779. The Kroger Co's gross margin of last year was 0.22003254. ==> 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 (Oct23)
=2713512.473/921082.114
=2.94600496

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Oct22)
=2645979.726/992141.976
=2.66693658

The Kroger Co's asset turnover of this year was 2.94600496. The Kroger Co's asset turnover of last year was 2.66693658. ==> 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+0+1+0+1+1
=7

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

The Kroger Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The Kroger Co  (MEX:KR) 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.


The Kroger Co Piotroski F-Score Related Terms

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The Kroger Co Business Description

Address
1014 Vine Street, Cincinnati, OH, USA, 45202
Kroger is one of the largest grocery retailers in the United States with more than 2,700 stores across a portfolio of over 20 supermarket banners. The company boasts an ingrained presence in US communities, citing that it is a top-two grocer in most of its major market areas. Over one fourth of Kroger's roughly $110 billion in nonperishable and fresh food sales (about 75% of revenue) stems from its private-label portfolio, of which the company manufactures about 30% of units via its 33 food production plants. The firm also operates fuel stations and pharmacies at 60% and 80% of its locations, respectively.