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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
Glu Mobile 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 Glu Mobile's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Glu Mobile was 7. The lowest was 1. And the median was 4.
The historical data trend for Glu Mobile'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.
Glu Mobile Annual Data | |||||||||||||||||||||
Trend | Dec11 | Dec12 | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 2.00 | 4.00 | 7.00 | 7.00 | 6.00 |
Glu Mobile Quarterly Data | ||||||||||||||||||||
Mar16 | Jun16 | Sep16 | Dec16 | Mar17 | Jun17 | Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | |
Piotroski F-Score | Get a 7-Day Free Trial | 7.00 | 7.00 | 6.00 | 7.00 | 6.00 |
For the Electronic Gaming & Multimedia subindustry, Glu Mobile'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 Interactive Media industry and Communication Services sector, Glu Mobile's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Glu Mobile'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 (Dec20) TTM: | Last Year (Dec19) TTM: |
Net Income was -8.273 + -8.566 + 13.405 + 23.881 = $20.4 Mil. Cash Flow from Operations was -16.852 + 13.845 + 32.223 + 46.836 = $76.1 Mil. Revenue was 107.274 + 133.316 + 158.531 + 141.401 = $540.5 Mil. Gross Profit was 69.412 + 85.702 + 101.253 + 92.602 = $349.0 Mil. Average Total Assets from the begining of this year (Dec19) to the end of this year (Dec20) was (418.049 + 417.951 + 631.961 + 636.513 + 653.855) / 5 = $551.6658 Mil. Total Assets at the begining of this year (Dec19) was $418.0 Mil. Long-Term Debt & Capital Lease Obligation was $34.6 Mil. Total Current Assets was $463.1 Mil. Total Current Liabilities was $180.7 Mil. |
Net Income was 0.663 + 2.507 + -5.089 + 10.79 = $8.9 Mil. Revenue was 95.885 + 95.54 + 107.077 + 112.879 = $411.4 Mil. Gross Profit was 61.363 + 61.678 + 69.279 + 73.562 = $265.9 Mil. Average Total Assets from the begining of last year (Dec18) to the end of last year (Dec19) was (314.433 + 358.938 + 371.839 + 408.115 + 418.049) / 5 = $374.2748 Mil. Total Assets at the begining of last year (Dec18) was $314.4 Mil. Long-Term Debt & Capital Lease Obligation was $37.4 Mil. Total Current Assets was $214.6 Mil. Total Current Liabilities was $150.8 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.
Glu Mobile's current Net Income (TTM) was 20.4.
==> 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.
Glu Mobile's current Cash Flow from Operations (TTM) was 76.1.
==> 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 (Dec19) |
= | 20.447 | / | 418.049 | |
= | 0.04891053 |
ROA (Last Year) | = | Net Income | / | Total Assets (Dec18) |
= | 8.871 | / | 314.433 | |
= | 0.02821269 |
Glu Mobile's return on assets of this year was 0.04891053. Glu Mobile's return on assets of last year was 0.02821269.
==> 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.
Glu Mobile's current Net Income (TTM) was 20.4. Glu Mobile's current Cash Flow from Operations (TTM) was 76.1.
==> 76.1 > 20.4 ==> 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: Dec20) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec19 to Dec20 |
= | 34.565 | / | 551.6658 | |
= | 0.06265569 |
Gearing (Last Year: Dec19) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec18 to Dec19 |
= | 37.351 | / | 374.2748 | |
= | 0.09979566 |
Glu Mobile's gearing of this year was 0.06265569. Glu Mobile's gearing of last year was 0.09979566.
==> 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: Dec20) | = | Total Current Assets | / | Total Current Liabilities |
= | 463.072 | / | 180.702 | |
= | 2.56262797 |
Current Ratio (Last Year: Dec19) | = | Total Current Assets | / | Total Current Liabilities |
= | 214.639 | / | 150.754 | |
= | 1.42376985 |
Glu Mobile's current ratio of this year was 2.56262797. Glu Mobile's current ratio of last year was 1.42376985.
==> 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.
Glu Mobile's number of shares in issue this year was 215.065. Glu Mobile's number of shares in issue last year was 193.389.
==> 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 |
= | 348.969 | / | 540.522 | |
= | 0.64561479 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 265.882 | / | 411.381 | |
= | 0.6463157 |
Glu Mobile's gross margin of this year was 0.64561479. Glu Mobile's gross margin of last year was 0.6463157.
==> 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 (Dec19) |
= | 540.522 | / | 418.049 | |
= | 1.29296327 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Dec18) |
= | 411.381 | / | 314.433 | |
= | 1.30832642 |
Glu Mobile's asset turnover of this year was 1.29296327. Glu Mobile's asset turnover of last year was 1.30832642.
==> 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 | + | 1 | + | 1 | + | 1 | + | 1 | + | 0 | + | 0 | + | 0 | |
= | 6 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Glu Mobile has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Glu Mobile (NAS:GLUU) 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 Glu Mobile's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Greg Brandeau | director | C/O GLU MOBILE INC. 500 HOWARD STREET, SUITE 300 SAN FRANCISCO CA 94105 |
Masi Niccolo De | director | 500 HOWARD ST., SUITE 300, SAN FRANCISCO CA 94105 |
Darla Anderson | director | C/O GLU MOBILE INC., 875 HOWARD STREET, SUITE 100, SAN FRANCISCO CA 94103 |
Eric R Ludwig | officer: EVP, COO and CFO | CO GLU MOBILE INC 1800 GATEWAY DRIVE SAN MATEO CA 94404 |
Becky Ann Hughes | officer: Senior Vice President, Revenue | GLU MOBILE INC., 875 HOWARD STREET, SUITE 100, SAN FRANCISCO CA 94103 |
Ann Mather | director | |
Gabrielle B Toledano | director | 209 REDWOOD SHORES PARKWAY, REDWOOD CITY CA 94065 |
Eric R. Ball | director | C/O GLU MOBILE INC., 45 FREMONT STREET, SUITE 2800, SAN FRANCISCO CA 94105 |
Smith Benjamin T. Iv | director | 2207 BRIDGEPOINTE PARKWAY, SUITE 300 SAN MATEO CA 94404 |
Hany Nada | director | C/O GRANITE GLOBAL VENTURES 2494 SAND HILL ROAD, SUITE 100 MENLO PARK CA 94025 |
Chris Akhavan | officer: SVP, Business & Corp. Dev. | C/O GLU MOBILE INC. 45 FREMONT STREET, SUITE 2800 SAN FRANCISCO CA 94105 |
Scott Leichtner | officer: VP and General Counsel | C/O GLU MOBILE INC. 2207 BRIDGEPOINTE PARKWAY SAN MATEO CA 94404 |
Puneet Kedia | officer: Vice President of Accounting | C/O GLU MOBILE INC. 875 HOWARD STREET, SUITE 100 SAN FRANCISCO CA 94103 |
Nicholas Earl | director, officer: President & CEO | C/O SCIPLAY CORPORATION, 6601 BERMUDA ROAD, LAS VEGAS NV 89119 |
Tencent Holdings Ltd | director, 10 percent owner | ROOM 3506, 35TH FLOOR, TOWER 2, LIPPO CENTRE, ADMIRALTY K3 00000 |
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