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Quest Resource Holding Piotroski F-Score

: 2 (As of Today)
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Warning Sign:

Piotroski F-Score of 2 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

Quest Resource Holding has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

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

QRHC' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 2

During the past 13 years, the highest Piotroski F-Score of Quest Resource Holding was 7. The lowest was 2. And the median was 5.


Quest Resource Holding Piotroski F-Score Historical Data

The historical data trend for Quest Resource Holding'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.

Quest Resource Holding Annual Data
Trend Jun12 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 4.00 5.00 6.00 7.00 5.00

Quest Resource Holding Quarterly Data
Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22
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 7.00 5.00 5.00 5.00 2.00

Competitive Comparison

For the Waste Management subindustry, Quest Resource Holding'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.

   

Quest Resource Holding Piotroski F-Score Distribution

For the Waste Management industry and Industrials sector, Quest Resource Holding's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Quest Resource Holding'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 (Mar22) TTM:Last Year (Mar21) TTM:
Net Income was 0.699 + 0.386 + -0.541 + -2.184 = $-1.6 Mil.
Cash Flow from Operations was 1.23 + -1.817 + -0.8 + -0.392 = $-1.8 Mil.
Revenue was 36.858 + 37.367 + 46.389 + 71.522 = $192.1 Mil.
Gross Profit was 6.81 + 6.853 + 8.719 + 11.248 = $33.6 Mil.
Average Total Assets from the begining of this year (Mar21)
to the end of this year (Mar22) was
(108.418 + 112.925 + 113.904 + 175.666 + 182.768) / 5 = $138.7362 Mil.
Total Assets at the begining of this year (Mar21) was $108.4 Mil.
Long-Term Debt & Capital Lease Obligation was $66.7 Mil.
Total Current Assets was $56.5 Mil.
Total Current Liabilities was $43.6 Mil.
Net Income was 1.209 + -0.067 + 0.124 + 1.147 = $2.4 Mil.

Revenue was 21.969 + 23.701 + 27.658 + 35.102 = $108.4 Mil.
Gross Profit was 4.375 + 4.557 + 5.581 + 6.44 = $21.0 Mil.
Average Total Assets from the begining of last year (Mar20)
to the end of last year (Mar21) was
(81.683 + 80.847 + 84.589 + 102.229 + 108.418) / 5 = $91.5532 Mil.
Total Assets at the begining of last year (Mar20) was $81.7 Mil.
Long-Term Debt & Capital Lease Obligation was $14.3 Mil.
Total Current Assets was $32.7 Mil.
Total Current Liabilities was $22.5 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.

Quest Resource Holding's current Net Income (TTM) was -1.6. ==> 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.

Quest Resource Holding's current Cash Flow from Operations (TTM) was -1.8. ==> 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 (Mar21)
=-1.64/108.418
=-0.01512664

ROA (Last Year)=Net Income/Total Assets (Mar20)
=2.413/81.683
=0.02954103

Quest Resource Holding's return on assets of this year was -0.01512664. Quest Resource Holding's return on assets of last year was 0.02954103. ==> 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.

Quest Resource Holding's current Net Income (TTM) was -1.6. Quest Resource Holding's current Cash Flow from Operations (TTM) was -1.8. ==> -1.8 <= -1.6 ==> 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: Mar22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar21 to Mar22
=66.729/138.7362
=0.48097757

Gearing (Last Year: Mar21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar20 to Mar21
=14.3/91.5532
=0.15619334

Quest Resource Holding's gearing of this year was 0.48097757. Quest Resource Holding's gearing of last year was 0.15619334. ==> 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: Mar22)=Total Current Assets/Total Current Liabilities
=56.492/43.552
=1.29711609

Current Ratio (Last Year: Mar21)=Total Current Assets/Total Current Liabilities
=32.661/22.511
=1.45089068

Quest Resource Holding's current ratio of this year was 1.29711609. Quest Resource Holding's current ratio of last year was 1.45089068. ==> 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.

Quest Resource Holding's number of shares in issue this year was 19.245. Quest Resource Holding's number of shares in issue last year was 19.413. ==> 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
=33.63/192.136
=0.17503227

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=20.953/108.43
=0.19323988

Quest Resource Holding's gross margin of this year was 0.17503227. Quest Resource Holding's gross margin of last year was 0.19323988. ==> 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 (Mar21)
=192.136/108.418
=1.77217805

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar20)
=108.43/81.683
=1.3274488

Quest Resource Holding's asset turnover of this year was 1.77217805. Quest Resource Holding's asset turnover of last year was 1.3274488. ==> 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+0+0+0+0+0+1+0+1
=2

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

Quest Resource Holding has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

Quest Resource Holding  (NAS:QRHC) 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.


Quest Resource Holding Piotroski F-Score Related Terms

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


Quest Resource Holding Business Description

Quest Resource Holding logo
Traded in Other Exchanges
Address
3481 Plano Parkway, The Colony, TX, USA, 75056
Quest Resource Holding Corp is a national provider of waste and recycling services to customers from across multiple industry sectors that are typically larger, multi-location businesses. The company creates customer-specific programs and perform the related services for the collection, processing, recycling, disposal, and tracking of waste streams and recyclables. The company's services focus on the waste streams and recyclables from big box, grocers, and other specialty retailers; automotive after-market operations such as automotive maintenance, quick lube, dealerships, and collision repair; transportation, logistics, and fleet operators; manufacturing and industrial facilities; multi-family and commercial properties; restaurant chains and food operations.
Executives
Culpepper Glenn director 6363 S FIDDLER'S GREEN CIRCLE GREENWOOD VILLAGE CO 80111
Allred Alan D. officer: See Remarks C/O QUEST RESOURCE HOLDING CORPORATION 3481 PLANO PARKWAY THE COLONY TX 75056
Coskery Stephen officer: See Remarks C/O QUEST RESOURCE HOLDING CORPORATION 3481 PLANO PARKWAY THE COLONY TX 75056
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