GURUFOCUS.COM » STOCK LIST » USA » NAS » Patrick Industries Inc (NAS:PATK) » Definitions » Piotroski F-Score
Switch to:

Patrick Industries Piotroski F-Score

: 7 (As of Today)
View and export this data going back to 1990. Start your Free Trial

Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

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

Patrick Industries has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Patrick Industries's Piotroski F-Score or its related term are showing as below:

PATK' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Patrick Industries was 8. The lowest was 1. And the median was 5.


Patrick Industries Piotroski F-Score Historical Data

The historical data trend for Patrick Industries'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.

Patrick Industries 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 7.00 6.00 6.00 5.00 6.00

Patrick Industries 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 6.00 6.00 6.00 6.00 7.00

Competitive Comparison

For the Furnishings, Fixtures & Appliances subindustry, Patrick Industries'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.

   

Patrick Industries Piotroski F-Score Distribution

For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Patrick Industries's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Patrick Industries'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 57.397 + 61.02 + 112.673 + 116.524 = $348 Mil.
Cash Flow from Operations was 68.672 + 104.713 + -23.039 + 97.335 = $248 Mil.
Revenue was 1060.177 + 1147.479 + 1342.175 + 1475.693 = $5,026 Mil.
Gross Profit was 208.161 + 227.024 + 295.345 + 327.104 = $1,058 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(2224.707 + 2358.458 + 2650.731 + 2971.38 + 3024.831) / 5 = $2646.0214 Mil.
Total Assets at the begining of this year (Jun21) was $2,225 Mil.
Long-Term Debt & Capital Lease Obligation was $1,600 Mil.
Total Current Assets was $1,223 Mil.
Total Current Liabilities was $473 Mil.
Net Income was 37.336 + 37.824 + 47.513 + 58.985 = $182 Mil.

Revenue was 700.707 + 772.613 + 850.483 + 1019.953 = $3,344 Mil.
Gross Profit was 133.497 + 142.318 + 161.532 + 204.477 = $642 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(1492.796 + 1574.939 + 1753.435 + 1834.878 + 2224.707) / 5 = $1776.151 Mil.
Total Assets at the begining of last year (Jun20) was $1,493 Mil.
Long-Term Debt & Capital Lease Obligation was $1,182 Mil.
Total Current Assets was $764 Mil.
Total Current Liabilities was $329 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.

Patrick Industries's current Net Income (TTM) was 348. ==> 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.

Patrick Industries's current Cash Flow from Operations (TTM) was 248. ==> 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 (Jun21)
=347.614/2224.707
=0.15625159

ROA (Last Year)=Net Income/Total Assets (Jun20)
=181.658/1492.796
=0.12168977

Patrick Industries's return on assets of this year was 0.15625159. Patrick Industries's return on assets of last year was 0.12168977. ==> 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.

Patrick Industries's current Net Income (TTM) was 348. Patrick Industries's current Cash Flow from Operations (TTM) was 248. ==> 248 <= 348 ==> 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
=1599.941/2646.0214
=0.60465913

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=1182.268/1776.151
=0.66563485

Patrick Industries's gearing of this year was 0.60465913. Patrick Industries's gearing of last year was 0.66563485. ==> 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: Jun22)=Total Current Assets/Total Current Liabilities
=1223.372/473.411
=2.58416471

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=763.624/328.792
=2.32251393

Patrick Industries's current ratio of this year was 2.58416471. Patrick Industries's current ratio of last year was 2.32251393. ==> 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.

Patrick Industries's number of shares in issue this year was 24.444. Patrick Industries's number of shares in issue last year was 23.435. ==> 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
=1057.634/5025.524
=0.21045248

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=641.824/3343.756
=0.19194702

Patrick Industries's gross margin of this year was 0.21045248. Patrick Industries's gross margin of last year was 0.19194702. ==> 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 (Jun21)
=5025.524/2224.707
=2.25895994

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=3343.756/1492.796
=2.2399283

Patrick Industries's asset turnover of this year was 2.25895994. Patrick Industries's asset turnover of last year was 2.2399283. ==> 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+1+1+0+1+1+0+1+1
=7

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

Patrick Industries has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Patrick Industries  (NAS:PATK) 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.


Patrick Industries Piotroski F-Score Related Terms

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


Patrick Industries Business Description

Patrick Industries logo
Traded in Other Exchanges
Address
107 W. Franklin Street, P.O. Box 638, Elkhart, IN, USA, 46515
Patrick Industries Inc makes and sells building products and materials for recreational vehicles and manufactured housing. The company is organized into two segments based on product type: manufacturing and distribution. The manufacturing segment, which generates the majority of revenue, sells laminated and vinyl products that include furniture, shelving, cabinets, bath fixtures, and countertops. The distribution segment sells prefinished wall and ceiling panels, as well as electrical and plumbing products for the RV and manufactured-housing industries. One of the firm's RV customers makes up a significant portion of revenue. Nearly all of Patrick Industries' revenue comes from North America.
Executives
Duthie Joel D officer: Chief Legal Officer/Secretary 107 W. FRANKLIN STREET PO BOX 638 ELKHART IN 46515
Petkovich Jacob R officer: EVP Finance, CFO & Treasurer 107 W. FRANKLIN STREET PO BOX 638 ELKHART IN 46515
Rose James E other: Principal Accounting Officer 107 W. FRANKLIN STREET PO BOX 638 ELKHART IN 46515
Mayes Derrick B director 107 W. FRANKLIN STREET PO BOX 638 ELKHART IN 46515
Klyn Pamela R director 107 W. FRANKLIN STREET PO BOX 638 ELKHART IN 46515
Suggs Denis director 7701 FORSYTH BOULEVARD, SUITE 800 ST. LOUIS MO 63105
Forbes John A director 107 W. FRANKLIN STREET, P.O. BOX 638 ELKHART IN 46515
Welch M Scott director 6 LONGWOOD COURT ELKHART IN 46516
Wells Walter E director 221 US 20 WEST P 0 BOX 151 MIDDLEBURY IN 46540
Ellis Kip B officer: EVP Operations & COO 107 W. FRANKLIN STREET, P.O. BOX 638 ELKHART IN 46515
Boone Joshua A officer: VP - Finance & CFO 107 W. FRANKLIN STREET P.O. BOX 638 ELKHART IN 46515
Rodino Jeff officer: EVP-Sales, Chief Sales Officer 107 W. FRANKLIN STREET P.O.BOX 638 ELKHART IN 46515
Blosser Courtney officer: Chief Human Resource Officer 107 W. FRANKLIN STREET P.O.BOX 638 ELKHART IN 46515
Kitson Michael A director 107 W. FRANKLIN STREET P.O. BOX 638 ELKHART IN 46515
Hassler Paul E director

Patrick Industries Headlines

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)