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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
Bridgford Foods 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 Bridgford Foods's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Bridgford Foods was 9. The lowest was 2. And the median was 6.
The historical data trend for Bridgford Foods'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.
Bridgford Foods Annual Data | |||||||||||||||||||||
Trend | Oct14 | Oct15 | Oct16 | Oct17 | Oct18 | Oct19 | Oct20 | Oct21 | Oct22 | Oct23 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 6.00 | 4.00 | 2.00 | 7.00 | 6.00 |
Bridgford Foods Quarterly Data | ||||||||||||||||||||
Apr19 | Jul19 | Oct19 | Jan20 | Apr20 | Jul20 | Oct20 | Jan21 | Apr21 | Jul21 | Oct21 | Jan22 | Apr22 | Jul22 | Oct22 | Jan23 | Apr23 | Jul23 | Oct23 | Jan24 | |
Piotroski F-Score | Get a 7-Day Free Trial | 7.00 | 6.00 | N/A | 6.00 | 6.00 |
For the Packaged Foods subindustry, Bridgford Foods'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 Consumer Packaged Goods industry and Consumer Defensive sector, Bridgford Foods's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Bridgford Foods'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 (Jan24) TTM: | Last Year (Jan23) TTM: |
Net Income was 0.149 + 0.684 + 0 + 1.235 = $2.1 Mil. Cash Flow from Operations was 3.924 + -1.202 + 0 + -0.703 = $2.0 Mil. Revenue was 55.51 + 54.189 + 0 + 54.842 = $164.5 Mil. Gross Profit was 15.457 + 15.291 + 0 + 16.038 = $46.8 Mil. Average Total Assets from the begining of this year (Jan23) to the end of this year (Jan24) was (169.611 + 0 + 0 + 166.998 + 166.755) / 5 = $167.788 Mil. Total Assets at the begining of this year (Jan23) was $169.6 Mil. Long-Term Debt & Capital Lease Obligation was $4.8 Mil. Total Current Assets was $86.0 Mil. Total Current Liabilities was $18.3 Mil. |
Net Income was 0.805 + 41.298 + 2.656 + 0.932 = $45.7 Mil. Revenue was 59.986 + 59.519 + 82.307 + 61.622 = $263.4 Mil. Gross Profit was 16.682 + 17.021 + 21.965 + 17.066 = $72.7 Mil. Average Total Assets from the begining of last year (Jan22) to the end of last year (Jan23) was (161.402 + 162.323 + 0 + 176.348 + 169.611) / 5 = $167.421 Mil. Total Assets at the begining of last year (Jan22) was $161.4 Mil. Long-Term Debt & Capital Lease Obligation was $6.8 Mil. Total Current Assets was $87.3 Mil. Total Current Liabilities was $20.3 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.
Bridgford Foods's current Net Income (TTM) was 2.1.
==> 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.
Bridgford Foods's current Cash Flow from Operations (TTM) was 2.0.
==> 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 (Jan23) |
= | 2.068 | / | 169.611 | |
= | 0.01219261 |
ROA (Last Year) | = | Net Income | / | Total Assets (Jan22) |
= | 45.691 | / | 161.402 | |
= | 0.28308819 |
Bridgford Foods's return on assets of this year was 0.01219261. Bridgford Foods's return on assets of last year was 0.28308819.
==> 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.
Bridgford Foods's current Net Income (TTM) was 2.1. Bridgford Foods's current Cash Flow from Operations (TTM) was 2.0.
==> 2.0 <= 2.1 ==> 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: Jan24) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Jan23 to Jan24 |
= | 4.83 | / | 167.788 | |
= | 0.02878633 |
Gearing (Last Year: Jan23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Jan22 to Jan23 |
= | 6.774 | / | 167.421 | |
= | 0.04046087 |
Bridgford Foods's gearing of this year was 0.02878633. Bridgford Foods's gearing of last year was 0.04046087.
==> 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: Jan24) | = | Total Current Assets | / | Total Current Liabilities |
= | 86.015 | / | 18.268 | |
= | 4.70850668 |
Current Ratio (Last Year: Jan23) | = | Total Current Assets | / | Total Current Liabilities |
= | 87.271 | / | 20.267 | |
= | 4.30606404 |
Bridgford Foods's current ratio of this year was 4.70850668. Bridgford Foods's current ratio of last year was 4.30606404.
==> 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.
Bridgford Foods's number of shares in issue this year was 9.077. Bridgford Foods's number of shares in issue last year was 9.077.
==> 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 |
= | 46.786 | / | 164.541 | |
= | 0.2843425 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 72.734 | / | 263.434 | |
= | 0.27609952 |
Bridgford Foods's gross margin of this year was 0.2843425. Bridgford Foods's gross margin of last year was 0.27609952.
==> 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 (Jan23) |
= | 164.541 | / | 169.611 | |
= | 0.97010807 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Jan22) |
= | 263.434 | / | 161.402 | |
= | 1.63216069 |
Bridgford Foods's asset turnover of this year was 0.97010807. Bridgford Foods's asset turnover of last year was 1.63216069.
==> 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 | + | 1 | + | 0 | |
= | 6 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Bridgford Foods has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Bridgford Foods (NAS:BRID) 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 Bridgford Foods's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Richard Eugene Bridgford | other: VP, Ind. Relations & Safety | 170 N GREEN ST, CHICAGO IL 60607 |
Brian E. Bridgford | other: V.P. Production | 170 N. GREEN STREET, CHICAGO IL 60661 |
Juan Luis Silva | other: V.P. Plant Superintendent | 3414 STONE CREEK DR, JOLIET IL 60435 |
Allan Jr. Bridgford | director | 515 MARGUERITE AVENUE, CORONA DEL MAR CA 92625 |
Dennis Gregory Scott | director | 9595 WILSHIRE BLVD., SUITE 710, BEVERLY HILLS CA 90212 |
Baron Bridgford | other: President, BFI. | P.O. BOX 3773, ANAHEIM CA 92803 |
Christopher William Cole | other: Senior Vice President | 1415 W. 44TH STREET, CHICAGO IL 60609 |
Bridgford Baron R.h. Ii | officer: President | 1415 W. 44TH STREET, CHICAGO IL 60609 |
Cindy Matthews-morales | officer: CFO, Secretary | 1308 N. PATT STREET, ANAHEIM CA 92801 |
Michael W. Bridgford | officer: Chairman of the Board | 1308 N. PATT STREET, ANAHEIM CA 92801 |
Mary S Schott | director | 2990 AIRWAY AVENUE, BUILDING A, COSTA MESA CA 92626 |
Debra Aileen Dealcuaz | other: Treasurer, Bridgford Indust. | 6432 CONNIE LANE, ROCKWALL TX 75032 |
Bruce Bridgford | director | P.O. BOX 3773, ANAHEIM CA 92803 |
William L Bridgford | director, officer: Chairman | P.O. BOX 3773, ANAHEIM CA 92803 |
Raymond F. Lancy | director, officer: CFO, TREAS, ASST SEC | 1308 N. PATT ST.,, ANAHEIM CA 92801 |
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