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CSG Systems International Piotroski F-Score

: 6 (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

CSG Systems International 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 CSG Systems International's Piotroski F-Score or its related term are showing as below:

NAS:CSGS' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 6

3
8

During the past 13 years, the highest Piotroski F-Score of CSG Systems International was 8. The lowest was 3. And the median was 6.


CSG Systems International Piotroski F-Score Historical Data

The historical data trend for CSG Systems International'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.

CSG Systems International Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 6.00 6.00 6.00 6.00

CSG Systems International Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
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 6.00 6.00 6.00 5.00 6.00

Competitive Comparison

For the Software - Infrastructure subindustry, CSG Systems International'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.

   

CSG Systems International Piotroski F-Score Distribution

For the Software industry and Technology sector, CSG Systems International's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where CSG Systems International'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 (Jun21) TTM:Last Year (Jun20) TTM:
Net Income was 13.566 + 13.265 + 19.631 + 19.321 = $66 Mil.
Cash Flow from Operations was 64.825 + 57.335 + -2.809 + 45.038 = $164 Mil.
Revenue was 244.108 + 260.487 + 253.119 + 255.134 = $1,013 Mil.
Gross Profit was 113.035 + 125.322 + 119.577 + 122.196 = $480 Mil.
Average Total Assets from the begining of this year (Jun20)
to the end of this year (Jun21) was
(1269.382 + 1271.816 + 1332 + 1274.481 + 1291.684) / 5 = $1287.8726 Mil.
Total Assets at the begining of this year (Jun20) was $1,269 Mil.
Long-Term Debt & Capital Lease Obligation was $190 Mil.
Total Current Assets was $678 Mil.
Total Current Liabilities was $623 Mil.
Net Income was 21.559 + 22.581 + 21.514 + 10.366 = $76 Mil.

Revenue was 251.414 + 254.747 + 245.617 + 240.321 = $992 Mil.
Gross Profit was 119.36 + 122.876 + 114.411 + 102.168 = $459 Mil.
Average Total Assets from the begining of last year (Jun19)
to the end of last year (Jun20) was
(1179.717 + 1207.157 + 1283.03 + 1224.457 + 1269.382) / 5 = $1232.7486 Mil.
Total Assets at the begining of last year (Jun19) was $1,180 Mil.
Long-Term Debt & Capital Lease Obligation was $445 Mil.
Total Current Assets was $643 Mil.
Total Current Liabilities was $371 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.

CSG Systems International's current Net Income (TTM) was 66. ==> 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.

CSG Systems International's current Cash Flow from Operations (TTM) was 164. ==> 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 (Jun20)
=65.783/1269.382
=0.05182286

ROA (Last Year)=Net Income/Total Assets (Jun19)
=76.02/1179.717
=0.06443918

CSG Systems International's return on assets of this year was 0.05182286. CSG Systems International's return on assets of last year was 0.06443918. ==> 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.

CSG Systems International's current Net Income (TTM) was 66. CSG Systems International's current Cash Flow from Operations (TTM) was 164. ==> 164 > 66 ==> 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: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=189.719/1287.8726
=0.14731193

Gearing (Last Year: Jun20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun19 to Jun20
=444.883/1232.7486
=0.36088705

CSG Systems International's gearing of this year was 0.14731193. CSG Systems International's gearing of last year was 0.36088705. ==> 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: Jun21)=Total Current Assets/Total Current Liabilities
=677.944/623.239
=1.08777532

Current Ratio (Last Year: Jun20)=Total Current Assets/Total Current Liabilities
=642.768/370.767
=1.73361707

CSG Systems International's current ratio of this year was 1.08777532. CSG Systems International's current ratio of last year was 1.73361707. ==> 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.

CSG Systems International's number of shares in issue this year was 31.993. CSG Systems International's number of shares in issue last year was 32.258. ==> 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
=480.13/1012.848
=0.47403954

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=458.815/992.099
=0.46246897

CSG Systems International's gross margin of this year was 0.47403954. CSG Systems International's gross margin of last year was 0.46246897. ==> 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 (Jun20)
=1012.848/1269.382
=0.79790638

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun19)
=992.099/1179.717
=0.84096355

CSG Systems International's asset turnover of this year was 0.79790638. CSG Systems International's asset turnover of last year was 0.84096355. ==> 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+1+1+0+1+1+0
=6

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

CSG Systems International has an F-score of 6 indicating the company's financial situation is typical for a stable company.

CSG Systems International  (NAS:CSGS) 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.


CSG Systems International Piotroski F-Score Related Terms

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CSG Systems International Business Description

CSG Systems International logo
Industry
Technology » Software NAICS : 541511 SIC : 7374
Traded in Other Exchanges
Address
6175 S. Willow Drive, 10th Floor, Greenwood Village, CO, USA, 80111
CSG Systems International Inc. is a provider of business support solutions for the communications industry. Its solutions include cable and satellite care and billing, content management and monetization, convergent rating and billing, mediation and data management, and wholesale settlement and routing. They help companies with transaction-centric models to manage operations by capturing and managing revenue associated with large transaction volumes. The company derives revenue from software license agreements and professional services. A large majority of the firm's revenue is generated in the United States.
Executives
Fawaz Marwan director 12405 POWERSCOURT DRIVE SAINT LOUIS MO 63131
Song Haiyan director 333 UPLANDS DR HILLSBOROUGH CA 94010
Tavares Silvio director 20 TIPTOE LANE BURLINGAME CA 94010
Kennedy Kenneth M officer: EVP & Pres, Technlgy & Product 33 W MONROE ST, SUITE 900 CHICAGO IL 60603
Barnes David G director 6175 S WILLOW DR 10TH FLOOR GREENWOOD VILLAGE CO 80111
Shepherd Brian A. officer: EVP & Group President 9197 SOUTH PEORIA STREET ENGLEWOOD CO 80112
Cooper Ronald director 1700 EAST TUFTS AVE. ENGLEWOOD CO 80113
Sica Frank V director CSG SYSTEMS INTERNATIONAL INC 7887 E BELLEVIEW AVE STE 1000 ENGEWOOD CO 801111
Reed Donald director 45 FREEMONT ST SAN FRANCISCO CA 94105
Obuchowski Janice I director 21700 ATLANTIC BLVD ORBITAL SCIENCES CORP DULLES VA 20166
Naik Rajan director 500 WEST MONROE STREET CHICAGO IL 60661
Unruh James A director C/O PRUDENTIAL FINANCIAL INC 751 BROAD ST. 4TH FL. NEWARK NJ 01702
Johns Rolland B officer: EVP & CFO 9555 MAROON CIRCLE ENGLEWOOD CO 80112
Schaaf David Neil officer: SVP, Chief Accounting Officer 6175 SOUTH WILLOW DRIVE GREENWOOD VILLAGE CO 80111
Griess Bret C officer: CEO and President 9555 MAROON CIRCLE ENGLEWOOD CO 80112

CSG Systems International Headlines

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