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Iconix Brand Group Piotroski F-Score

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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

Iconix Brand Group 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 Iconix Brand Group's Piotroski F-Score or its related term are showing as below:


Iconix Brand Group Piotroski F-Score Historical Data

The historical data trend for Iconix Brand Group'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.

Iconix Brand Group 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 5.00 3.00 4.00 3.00 4.00

Iconix Brand Group Quarterly Data
Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21
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 4.00 3.00 3.00 4.00 5.00

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 (Mar21) TTM:Last Year (Mar20) TTM:
Net Income was -17.435 + 45.866 + -14.002 + 4.188 = $18.6 Mil.
Cash Flow from Operations was 21.392 + 0.155 + 0.735 + 8.038 = $30.3 Mil.
Revenue was 22.277 + 24.462 + 33.888 + 23.634 = $104.3 Mil.
Gross Profit was 22.277 + 24.462 + 33.888 + 23.634 = $104.3 Mil.
Average Total Assets from the begining of this year (Mar20)
to the end of this year (Mar21) was
(465.251 + 453.027 + 445.59 + 412.736 + 401.382) / 5 = $435.5972 Mil.
Total Assets at the begining of this year (Mar20) was $465.3 Mil.
Long-Term Debt & Capital Lease Obligation was $518.2 Mil.
Total Current Assets was $95.4 Mil.
Total Current Liabilities was $65.9 Mil.
Net Income was 1.271 + -35.708 + -95.021 + -21.826 = $-151.3 Mil.

Revenue was 34.394 + 35.471 + 43.178 + 27.951 = $141.0 Mil.
Gross Profit was 34.394 + 35.471 + 43.178 + 27.951 = $141.0 Mil.
Average Total Assets from the begining of last year (Mar19)
to the end of last year (Mar20) was
(622.989 + 634.139 + 600.024 + 506.06 + 465.251) / 5 = $565.6926 Mil.
Total Assets at the begining of last year (Mar19) was $623.0 Mil.
Long-Term Debt & Capital Lease Obligation was $602.7 Mil.
Total Current Assets was $109.7 Mil.
Total Current Liabilities was $93.5 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.

Iconix Brand Group's current Net Income (TTM) was 18.6. ==> 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.

Iconix Brand Group's current Cash Flow from Operations (TTM) was 30.3. ==> 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 (Mar20)
=18.617/465.251
=0.04001496

ROA (Last Year)=Net Income/Total Assets (Mar19)
=-151.284/622.989
=-0.24283575

Iconix Brand Group's return on assets of this year was 0.04001496. Iconix Brand Group's return on assets of last year was -0.24283575. ==> 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.

Iconix Brand Group's current Net Income (TTM) was 18.6. Iconix Brand Group's current Cash Flow from Operations (TTM) was 30.3. ==> 30.3 > 18.6 ==> 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: Mar21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar20 to Mar21
=518.218/435.5972
=1.18967248

Gearing (Last Year: Mar20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar19 to Mar20
=602.732/565.6926
=1.0654762

Iconix Brand Group's gearing of this year was 1.18967248. Iconix Brand Group's gearing of last year was 1.0654762. ==> 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: Mar21)=Total Current Assets/Total Current Liabilities
=95.388/65.899
=1.44748782

Current Ratio (Last Year: Mar20)=Total Current Assets/Total Current Liabilities
=109.66/93.513
=1.17267118

Iconix Brand Group's current ratio of this year was 1.44748782. Iconix Brand Group's current ratio of last year was 1.17267118. ==> 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.

Iconix Brand Group's number of shares in issue this year was 31.628. Iconix Brand Group's number of shares in issue last year was 11.772. ==> 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
=104.261/104.261
=1

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=140.994/140.994
=1

Iconix Brand Group's gross margin of this year was 1. Iconix Brand Group's gross margin of last year was 1. ==> 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 (Mar20)
=104.261/465.251
=0.22409624

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar19)
=140.994/622.989
=0.2263186

Iconix Brand Group's asset turnover of this year was 0.22409624. Iconix Brand Group's asset turnover of last year was 0.2263186. ==> 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+0+1+0+0+0
=5

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

Iconix Brand Group has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Iconix Brand Group  (NAS:ICON) 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.


Iconix Brand Group Piotroski F-Score Related Terms

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Iconix Brand Group Business Description

Iconix Brand Group logo
Traded in Other Exchanges
N/A
Address
1450 Broadway, 3rd Floor, New York, NY, USA, 10018
Iconix Brand Group Inc owns a portfolio of consumer brands in the apparel and home categories. It monetizes the brands through licensing and joint ventures with retailers and wholesalers worldwide. Its retail licensees include Wal-Mart, Target, Kohl's, and Kmart/Sears. Some of the company's notable brands are Peanuts, Mossimo, Starter, Sharper Image, and London Fog. Licensees are responsible for design, manufacture, and distribution, while Iconix manages advertising and promotional campaigns. Most agreements require licensees to pay Iconix for advertising and marketing and to guarantee Iconix a minimum amount of royalty revenue.
Executives
Galvin Robert director, officer: President and CEO 78 GOLF LANE RIDGEFIELD CT 06877
Mcclain John officer: EVP & CFO C/O THE JONES GROUP INC. 1411 BROADWAY NEW YORK NY 10018
Wood Jeffrey Neil officer: Interim CFO 50 HOMESTEAD RD GILLETTE NJ 07933
Cuneo F Peter director, officer: Chairman and Interim CEO 10 EAST 40TH ST NEW YORK NY 10016
Haugh John N director, officer: President and CEO 3231 S E SIXTH AVENUE TOPEKA KS 66607
Jones David K. officer: EVP & CFO 1375 BROADWAY, FLOOR 11 NEW YORK NY 10018
Schaefer Jason officer: EVP and General Counsel C O ICONIX BRAND GROUP INC 1450 BROADWAY 4TH FL NEW YORK NY 10018
Sanjay Khosla director THREE LAKES DRIVE NORTHFIELD IL 60093
Slutsky Kenneth director 11400 W. OLYMPIC BOULEVARD SUITE 1400 LOS ANGELES CA 90064
Friedman Mark A director 595 NORTH STREET RYE NY 10580
Cohen Drew director C/O MUSIC THEATER INTERNATIONAL 421 WEST 54TH STREET NEW YORK NY 10019
Marcum James director 55 WENTWORTH COVE RD. LACONIA NH 03246
Gove Sue director 901 WEST WALNUT HILL LANE MAIL STATION 6B-3 IRVING TX 75038
Blumberg David officer: EVP - Chief Strategy Officer C/O ICONIX BRAND GROUP, INC. 1450 BROADWAY, 4TH FLOOR NEW YORK NY 10018
Barclays Plc 10 percent owner 1 CHURCHILL PLACE CANARY WHARF LONDON X0 E14 5HP

Iconix Brand Group Headlines

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