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Atlas Air Worldwide Holdings Piotroski F-Score

: 5 (As of Today)
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The zones of discrimination were as such:

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

Atlas Air Worldwide Holdings 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 Atlas Air Worldwide Holdings's Piotroski F-Score or its related term are showing as below:

AAWW' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 8
Current: 5

During the past 13 years, the highest Piotroski F-Score of Atlas Air Worldwide Holdings was 8. The lowest was 2. And the median was 6.


Atlas Air Worldwide Holdings Piotroski F-Score Historical Data

The historical data trend for Atlas Air Worldwide Holdings'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.

Atlas Air Worldwide Holdings Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 6.00 4.00 8.00 7.00

Atlas Air Worldwide Holdings Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Piotroski F-Score 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 Premium Member Only Premium Member Only Premium Member Only 7.00 7.00 7.00 6.00 5.00

Competitive Comparison

For the Airports & Air Services subindustry, Atlas Air Worldwide Holdings'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.

   

Atlas Air Worldwide Holdings Piotroski F-Score Distribution

For the Transportation industry and Industrials sector, Atlas Air Worldwide Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Atlas Air Worldwide Holdings'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 (Jun22) TTM:Last Year (Jun21) TTM:
Net Income was 119.535 + 176.739 + 81.511 + 88.258 = $466 Mil.
Cash Flow from Operations was 265.827 + 314.051 + 207.839 + 218.149 = $1,006 Mil.
Revenue was 1016.1 + 1162.997 + 1037.156 + 1179.971 = $4,396 Mil.
Gross Profit was 289.363 + 367.091 + 216.414 + 239.319 = $1,112 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(6139.036 + 6264.943 + 6443.243 + 6332.805 + 6299.008) / 5 = $6295.807 Mil.
Total Assets at the begining of this year (Jun21) was $6,139 Mil.
Long-Term Debt & Capital Lease Obligation was $1,859 Mil.
Total Current Assets was $993 Mil.
Total Current Liabilities was $1,149 Mil.
Net Income was 74.054 + 183.967 + 89.933 + 107.11 = $455 Mil.

Revenue was 809.886 + 932.475 + 861.3 + 990.432 = $3,594 Mil.
Gross Profit was 211.904 + 292.25 + 200.505 + 261.989 = $967 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(5816.75 + 5822.644 + 6029.188 + 5995.417 + 6139.036) / 5 = $5960.607 Mil.
Total Assets at the begining of last year (Jun20) was $5,817 Mil.
Long-Term Debt & Capital Lease Obligation was $2,025 Mil.
Total Current Assets was $1,150 Mil.
Total Current Liabilities was $1,320 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.

Atlas Air Worldwide Holdings's current Net Income (TTM) was 466. ==> 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.

Atlas Air Worldwide Holdings's current Cash Flow from Operations (TTM) was 1,006. ==> 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 (Jun21)
=466.043/6139.036
=0.07591469

ROA (Last Year)=Net Income/Total Assets (Jun20)
=455.064/5816.75
=0.07823338

Atlas Air Worldwide Holdings's return on assets of this year was 0.07591469. Atlas Air Worldwide Holdings's return on assets of last year was 0.07823338. ==> 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.

Atlas Air Worldwide Holdings's current Net Income (TTM) was 466. Atlas Air Worldwide Holdings's current Cash Flow from Operations (TTM) was 1,006. ==> 1,006 > 466 ==> 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: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=1858.786/6295.807
=0.2952419

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=2024.715/5960.607
=0.33968269

Atlas Air Worldwide Holdings's gearing of this year was 0.2952419. Atlas Air Worldwide Holdings's gearing of last year was 0.33968269. ==> 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: Jun22)=Total Current Assets/Total Current Liabilities
=993.018/1149.002
=0.86424393

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=1150.202/1319.602
=0.87162796

Atlas Air Worldwide Holdings's current ratio of this year was 0.86424393. Atlas Air Worldwide Holdings's current ratio of last year was 0.87162796. ==> 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.

Atlas Air Worldwide Holdings's number of shares in issue this year was 33.679. Atlas Air Worldwide Holdings's number of shares in issue last year was 30.319. ==> 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
=1112.187/4396.224
=0.25298688

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=966.648/3594.093
=0.26895464

Atlas Air Worldwide Holdings's gross margin of this year was 0.25298688. Atlas Air Worldwide Holdings's gross margin of last year was 0.26895464. ==> 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 (Jun21)
=4396.224/6139.036
=0.71610983

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=3594.093/5816.75
=0.61788679

Atlas Air Worldwide Holdings's asset turnover of this year was 0.71610983. Atlas Air Worldwide Holdings's asset turnover of last year was 0.61788679. ==> 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+0+1+1+0+0+0+1
=5

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

Atlas Air Worldwide Holdings has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Atlas Air Worldwide Holdings  (NAS:AAWW) 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.


Atlas Air Worldwide Holdings Piotroski F-Score Related Terms

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Atlas Air Worldwide Holdings Business Description

Atlas Air Worldwide Holdings logo
Traded in Other Exchanges
Address
2000 Westchester Avenue, Purchase, NY, USA, 10577-2543
Atlas Air Worldwide Holdings Inc, together with its subsidiaries, is a leading global provider of outsourced aircraft and aviation operating services. The company owns a fleet of freighters and passenger aircraft and leases additional aircraft and engines to expand its portfolio. It gives customers access to new production aircraft and offers crew, maintenance, and insurance services. In addition, the company operates a charter division to provide air cargo and passenger aircraft charters. Atlas Air customers include airlines, express delivery providers, freight forwarders, the U.S. military, and charter brokers. It provides global services to regions in Africa, Asia, Australia, Europe, the Middle East, and the Americas.
Executives
Borst Walter G director 2701 NAVISTAR DRIVE LISLE IL 60532
Conner Raymond L. director ALASKA AIR GROUP, INC. 19300 INTERNATIONAL BLVD SEATTLE WA 98188
Willis George director 55 GLENLAKE PARKWAY, NE ATLANTA GA 30328
Zierhoffer Carol J director 100 NORTH POINT CENTER EAST SUITE 200 ALPHARETTA GA 30022
Goulet, Beverly K. director 10990 ROE AVENUE OVERLAND PARK KS 66211
Forbes James Anthony officer: EVP & COO C/O ATLAS AIR WORLDWIDE HOLDINGS, INC. 2000 WESTCHESTER AVENUE PURCHASE NY 10577
Stamps Sheila A director C/O CIT GROUP, 1 CIT DRIVE ATTN: GENERAL COUNSEL LIVINGSTON NJ 07039
Lute Jane H director 4404 33RD ROAD NORTH ARLINGTON VA 22207
Bolden Charles F Jr director MARATHON OIL CORP 5555 SAN FELIPE ROAD HOUSTON TX 77056
Griffin Bobby J director C/O UNITED RENTALS, INC. 100 FIRST STAMFORD PL STE 700 STAMFORD CT 06902
Wulff John K director C/O HERCULES INC 1313 NORTH MARKET STREET WILMINGTON DE 19894-0001
Mcnabb Duncan J. director C/O ATLAS AIR WORLDWIDE HOLDINGS, INC. 2000 WESTCHESTER AVENUE PURCHASE NY 10577
Mayer Keith H. officer: Vice President & Controller ATLAS AIR WORLDWIDE HOLDINGS, INC. 2000 WESTCHESTER AVENUE PURCHASE NY 10577
Harbinger Capital Partners Llc 10 percent owner, other: *See Remarks 450 PARK AVENUE, 30TH FLOOR NEW YORK NY 10022
Harbinger Holdings, Llc 10 percent owner, other: *See Remarks 450 PARK AVENUE, 30TH FLOOR NEW YORK NY 10022

Atlas Air Worldwide Holdings Headlines

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