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Warning Sign:
Piotroski F-Score of 3 is low, which usually implies poor business operation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Full House Resorts has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for Full House Resorts's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Full House Resorts was 7. The lowest was 2. And the median was 5.
The historical data trend for Full House Resorts'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.
Full House Resorts Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 4.00 | 7.00 | 7.00 | 4.00 | 3.00 |
Full House Resorts Quarterly Data | ||||||||||||||||||||
Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Piotroski F-Score | Get a 7-Day Free Trial | 4.00 | 4.00 | 2.00 | 3.00 | 3.00 |
For the Resorts & Casinos subindustry, Full House Resorts'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 Travel & Leisure industry and Consumer Cyclical sector, Full House Resorts's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Full House Resorts'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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Net Income was -11.415 + -5.6 + 4.593 + -12.482 = $-24.9 Mil. Cash Flow from Operations was -7.292 + 8.994 + 1.505 + 19.138 = $22.3 Mil. Revenue was 50.106 + 59.382 + 71.543 + 60.029 = $241.1 Mil. Gross Profit was 27.606 + 31.429 + 41.921 + 30.465 = $131.4 Mil. Average Total Assets from the begining of this year (Dec22) to the end of this year (Dec23) was (595.329 + 674.497 + 671.134 + 665.104 + 688.457) / 5 = $658.9042 Mil. Total Assets at the begining of this year (Dec22) was $595.3 Mil. Long-Term Debt & Capital Lease Obligation was $508.1 Mil. Total Current Assets was $84.6 Mil. Total Current Liabilities was $78.6 Mil. |
Net Income was 0.11 + -4.355 + -3.577 + -6.982 = $-14.8 Mil. Revenue was 41.423 + 44.383 + 41.393 + 36.082 = $163.3 Mil. Gross Profit was 23.447 + 25.783 + 22.444 + 18.473 = $90.1 Mil. Average Total Assets from the begining of last year (Dec21) to the end of last year (Dec22) was (473.842 + 564.53 + 579.759 + 574.751 + 595.329) / 5 = $557.6422 Mil. Total Assets at the begining of last year (Dec21) was $473.8 Mil. Long-Term Debt & Capital Lease Obligation was $420.0 Mil. Total Current Assets was $202.9 Mil. Total Current Liabilities was $65.7 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.
Full House Resorts's current Net Income (TTM) was -24.9.
==> Negative ==> Score 0.
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.
Full House Resorts's current Cash Flow from Operations (TTM) was 22.3.
==> 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 (Dec22) |
= | -24.904 | / | 595.329 | |
= | -0.04183233 |
ROA (Last Year) | = | Net Income | / | Total Assets (Dec21) |
= | -14.804 | / | 473.842 | |
= | -0.03124248 |
Full House Resorts's return on assets of this year was -0.04183233. Full House Resorts's return on assets of last year was -0.03124248.
==> 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.
Full House Resorts's current Net Income (TTM) was -24.9. Full House Resorts's current Cash Flow from Operations (TTM) was 22.3.
==> 22.3 > -24.9 ==> 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: Dec23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec22 to Dec23 |
= | 508.106 | / | 658.9042 | |
= | 0.7711379 |
Gearing (Last Year: Dec22) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec21 to Dec22 |
= | 419.997 | / | 557.6422 | |
= | 0.75316574 |
Full House Resorts's gearing of this year was 0.7711379. Full House Resorts's gearing of last year was 0.75316574.
==> 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: Dec23) | = | Total Current Assets | / | Total Current Liabilities |
= | 84.639 | / | 78.552 | |
= | 1.07749007 |
Current Ratio (Last Year: Dec22) | = | Total Current Assets | / | Total Current Liabilities |
= | 202.921 | / | 65.661 | |
= | 3.0904342 |
Full House Resorts's current ratio of this year was 1.07749007. Full House Resorts's current ratio of last year was 3.0904342.
==> 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.
Full House Resorts's number of shares in issue this year was 34.589. Full House Resorts's number of shares in issue last year was 34.402.
==> 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 |
= | 131.421 | / | 241.06 | |
= | 0.54517962 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 90.147 | / | 163.281 | |
= | 0.5520973 |
Full House Resorts's gross margin of this year was 0.54517962. Full House Resorts's gross margin of last year was 0.5520973.
==> 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 (Dec22) |
= | 241.06 | / | 595.329 | |
= | 0.40491896 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Dec21) |
= | 163.281 | / | 473.842 | |
= | 0.34458955 |
Full House Resorts's asset turnover of this year was 0.40491896. Full House Resorts's asset turnover of last year was 0.34458955.
==> 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 |
= | 0 | + | 1 | + | 0 | + | 1 | + | 0 | + | 0 | + | 0 | + | 0 | + | 1 | |
= | 3 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Full House Resorts has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
Full House Resorts (NAS:FLL) 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 Full House Resorts's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Kathleen M Caracciolo | director | 5922 CLOVERLEAF DRIVE, MAYS LANDING NJ 08330 |
Eric J Green | director | C/O FULL HOUSE RESORTS, INC., 1980 FESTIVAL PLAZA DRIVE, SUITE 680, LAS VEGAS NV 89135 |
Daniel R Lee | director, officer: Chief Executive Officer | C/O CREATIVE CASINOS LLC, 10801 W CHARLESTON BLVD #420, LAS VEGAS NV 89135 |
Lewis A. Fanger | officer: Sr. VP, CFO and Treasurer | C/O FULL HOUSE RESORTS, INC., 4670 S. FORT APACHE ROAD, SUITE 190, LAS VEGAS NV 89147 |
Michael A. Hartmeier | director | C/O DIAMONDROCK HOSPITALITY COMPANY, 2 BETHESDA METRO CENTER, SUITE 1400, BETHESDA MD 20814 |
Carl G Braunlich | director | 4670 SOUTH FORT APACHE ROAD, SUITE 190, LAS VEGAS NV 89147 |
Elaine Guidroz | officer: Secretary | C/O FULL HOUSE RESORTS, INC., 777 RISING STAR DRIVE, RISING SUN IN 47040 |
Kenneth Robert Adams | director | 210 MARSH AVE SUITE 103, RENO NV 89509 |
Lynn M Handler | director | C/O FULL HOUSE RESORTS, INC., 1980 FESTIVAL PLAZA DRIVE, SUITE 680, LAS VEGAS NV 89135 |
John Ferrucci | officer: Chief Operating Officer | C/O FULL HOUSE RESORTS, INC., 1980 FESTIVAL PLAZA DRIVE, SUITE 680, LAS VEGAS NV 89135 |
Michael P Shaunnessy | director | 50 BRIAR HOLLOW LANE, STE 500W, HOUSTON TX 77027 |
Bradley M Tirpak | director | 50 ORCHARD ST., NEW YORK NY 10002 |
Craig W Thomas | director | 2100 CRESCENT AVENUE, CHARLOTTE NC 28207 |
Ellis Landau | director | CO PINNACLE ENTERTAINMENT INC, 8918 SPANISH RIDGE AVENUE, LAS VEGAS NV 89148 |
Garrett W.h. Baird | director | C/O ELASTIC N.V., 800 WEST EL CAMINO REAL SUITE 350, MOUNTAIN VIEW CA 94040 |
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