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Liberty Broadband Piotroski F-Score

: 5 (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

Liberty Broadband 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 Liberty Broadband's Piotroski F-Score or its related term are showing as below:

LBRDK' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 4   Max: 6
Current: 5

During the past 11 years, the highest Piotroski F-Score of Liberty Broadband was 6. The lowest was 1. And the median was 4.


Liberty Broadband Piotroski F-Score Historical Data

The historical data trend for Liberty Broadband'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.

Liberty Broadband Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.00 4.00 3.00 3.00 6.00

Liberty Broadband Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
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 4.00 6.00 5.00 5.00

Competitive Comparison

For the Telecom Services subindustry, Liberty Broadband'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.

   

Liberty Broadband Piotroski F-Score Distribution

For the Telecommunication Services industry and Communication Services sector, Liberty Broadband's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Liberty Broadband'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 (Jun22) TTM:Last Year (Jun21) TTM:
Net Income was 236.869 + 386.655 + 299 + 465 = $1,387.5 Mil.
Cash Flow from Operations was 24.968 + -132.968 + 90 + -72 = $-90.0 Mil.
Revenue was 250.22 + 248.962 + 238 + 239 = $976.2 Mil.
Gross Profit was 250.22 + 248.962 + 238 + 239 = $976.2 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(18775.057 + 18439.712 + 16968 + 16630 + 15738) / 5 = $17310.1538 Mil.
Total Assets at the begining of this year (Jun21) was $18,775.1 Mil.
Long-Term Debt & Capital Lease Obligation was $3,858.0 Mil.
Total Current Assets was $551.0 Mil.
Total Current Liabilities was $448.0 Mil.
Net Income was 68.96 + 264.668 + 52 + 56 = $441.6 Mil.

Revenue was 4.219 + 38.563 + 247 + 242 = $531.8 Mil.
Gross Profit was 4.219 + 38.563 + 247 + 242 = $531.8 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(12335.399 + 12861.689 + 21373 + 20491.042 + 18775.057) / 5 = $17167.2374 Mil.
Total Assets at the begining of last year (Jun20) was $12,335.4 Mil.
Long-Term Debt & Capital Lease Obligation was $3,800.7 Mil.
Total Current Assets was $519.0 Mil.
Total Current Liabilities was $728.9 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.

Liberty Broadband's current Net Income (TTM) was 1,387.5. ==> 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.

Liberty Broadband's current Cash Flow from Operations (TTM) was -90.0. ==> Negative ==> Score 0.

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 (Jun21)
=1387.524/18775.057
=0.07390252

ROA (Last Year)=Net Income/Total Assets (Jun20)
=441.628/12335.399
=0.03580168

Liberty Broadband's return on assets of this year was 0.07390252. Liberty Broadband's return on assets of last year was 0.03580168. ==> 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.

Liberty Broadband's current Net Income (TTM) was 1,387.5. Liberty Broadband's current Cash Flow from Operations (TTM) was -90.0. ==> -90.0 <= 1,387.5 ==> 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: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=3858/17310.1538
=0.22287497

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=3800.72/17167.2374
=0.2213938

Liberty Broadband's gearing of this year was 0.22287497. Liberty Broadband's gearing of last year was 0.2213938. ==> 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: Jun22)=Total Current Assets/Total Current Liabilities
=551/448
=1.22991071

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=519.049/728.873
=0.71212543

Liberty Broadband's current ratio of this year was 1.22991071. Liberty Broadband's current ratio of last year was 0.71212543. ==> 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.

Liberty Broadband's number of shares in issue this year was 162. Liberty Broadband's number of shares in issue last year was 190. ==> 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
=976.182/976.182
=1

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=531.782/531.782
=1

Liberty Broadband's gross margin of this year was 1. Liberty Broadband'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 (Jun21)
=976.182/18775.057
=0.05199356

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=531.782/12335.399
=0.04311024

Liberty Broadband's asset turnover of this year was 0.05199356. Liberty Broadband's asset turnover of last year was 0.04311024. ==> 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
=1+0+1+0+0+1+1+0+1
=5

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

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

Liberty Broadband  (NAS:LBRDK) 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.


Liberty Broadband Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Liberty Broadband's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Liberty Broadband Business Description

Liberty Broadband logo
Address
12300 Liberty Boulevard, Englewood, CO, USA, 80112
Liberty Broadband Corp serves in the telecommunications industry in the United States. It provides cable services to both residential and small to medium businesses through its fiber, hybrid fiber, and coaxial cable infrastructure. The services provided by the company are residential services which include video services, internet services, voice services, and mobile services, commercial services which include small, and medium business and enterprise solutions, advertising services, and other services which include security and home management. The reportable segments of the company are GCI Holdings, Charter. The firm derives the majority of its revenue from GCI Holdings.
Executives
Hamilton Sue Ann director 12405 POWERSCOURT DRIVE ST. LOUIS MO 63131
Engles Gregg L director 1225 SEVENTEENTH STREET SUITE 1000 DENVER CO 80202
Frist Julie D. director 810 JACKSON BLVD. NASHVILLE TN 37205
Wilm Renee L officer: Chief Legal Officer 12300 LIBERTY BOULEVARD ENGLEWOOD CO 80112
Malone John C director, 10 percent owner 12300 LIBERTY BLVD ENGLEWOOD CO 80112
Wendling Brian J officer: SVP/Controller/PFO 12300 LIBERTY BOULEVARD ENGLEWOOD CO 80112
Carleton Mark D officer: Chief Financial Officer 12300 LIBERTY BLVD. ENGLEWOOD CO 80112
Wargo J David director C/O WARGO & CO 712 FIFTH AVENUE 41ST FLOOR NEW YORK NY 10019
Fisher Donne F director 12300 LIBERTY BLVD ENGLEWOOD CO 80112
Welsh John E Iii director AVALON CAPITAL PARTNERS 181 MAIN ST COLD SPRING HARBOR NY 11724
Green Richard R director 12300 LIBERTY BOULEVARD ENGLEWOOD CO 80112
Maffei Gregory B director, officer: President/CEO 12300 LIBERTY BLVD ENGLEWOOD CO 80112
Liberty Media Corp 10 percent owner 12300 LIBERTY BOULEVARD ENGLEWOOD CO 80112
Rosenthaler Albert E officer: Senior Vice President 12300 LIBERTY BLVD ENGLEWOOD CO 80112
Shean Christopher W officer: Senior Vice President/CFO 12300 LIBERTY BLVD. ENGLEWOOD CO 80116

Liberty Broadband Headlines

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