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Rush Enterprises Piotroski F-Score

: 6 (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

Rush Enterprises 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 Rush Enterprises's Piotroski F-Score or its related term are showing as below:

RUSHB' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 9
Current: 6

During the past 13 years, the highest Piotroski F-Score of Rush Enterprises was 9. The lowest was 1. And the median was 5.


Rush Enterprises Piotroski F-Score Historical Data

The historical data trend for Rush Enterprises'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.

Rush Enterprises 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 7.00 5.00 5.00 7.00

Rush Enterprises 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 8.00 8.00 7.00 7.00 6.00

Competitive Comparison

For the Auto & Truck Dealerships subindustry, Rush Enterprises'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.

   

Rush Enterprises Piotroski F-Score Distribution

For the Vehicles & Parts industry and Consumer Cyclical sector, Rush Enterprises's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Rush Enterprises'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 69.399 + 68.639 + 92.453 + 110.227 = $341 Mil.
Cash Flow from Operations was 200.942 + -16.299 + 34.585 + 23.594 = $243 Mil.
Revenue was 1266.521 + 1311.8 + 1563.202 + 1791.241 = $5,933 Mil.
Gross Profit was 282.295 + 294.407 + 345.44 + 374.216 = $1,296 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(2912.124 + 2777.329 + 3119.977 + 3321.548 + 3669.369) / 5 = $3160.0694 Mil.
Total Assets at the begining of this year (Jun21) was $2,912 Mil.
Long-Term Debt & Capital Lease Obligation was $576 Mil.
Total Current Assets was $1,743 Mil.
Total Current Liabilities was $1,300 Mil.
Net Income was 33.939 + 41.025 + 45.333 + 58.044 = $178 Mil.

Revenue was 1178.568 + 1268.197 + 1231.806 + 1316.015 = $4,995 Mil.
Gross Profit was 212.452 + 236.183 + 244.814 + 270.782 = $964 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(3064.601 + 3010.689 + 2985.393 + 3008.423 + 2912.124) / 5 = $2996.246 Mil.
Total Assets at the begining of last year (Jun20) was $3,065 Mil.
Long-Term Debt & Capital Lease Obligation was $476 Mil.
Total Current Assets was $1,306 Mil.
Total Current Liabilities was $929 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.

Rush Enterprises's current Net Income (TTM) was 341. ==> 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.

Rush Enterprises's current Cash Flow from Operations (TTM) was 243. ==> 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)
=340.718/2912.124
=0.11699983

ROA (Last Year)=Net Income/Total Assets (Jun20)
=178.341/3064.601
=0.05819387

Rush Enterprises's return on assets of this year was 0.11699983. Rush Enterprises's return on assets of last year was 0.05819387. ==> 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.

Rush Enterprises's current Net Income (TTM) was 341. Rush Enterprises's current Cash Flow from Operations (TTM) was 243. ==> 243 <= 341 ==> 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
=576.04/3160.0694
=0.18228714

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=475.695/2996.246
=0.15876367

Rush Enterprises's gearing of this year was 0.18228714. Rush Enterprises's gearing of last year was 0.15876367. ==> 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
=1742.751/1299.553
=1.3410388

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=1306.28/928.811
=1.40640023

Rush Enterprises's current ratio of this year was 1.3410388. Rush Enterprises's current ratio of last year was 1.40640023. ==> 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.

Rush Enterprises's number of shares in issue this year was 57.31. Rush Enterprises's number of shares in issue last year was 57.956. ==> 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
=1296.358/5932.764
=0.21850827

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=964.231/4994.586
=0.19305524

Rush Enterprises's gross margin of this year was 0.21850827. Rush Enterprises's gross margin of last year was 0.19305524. ==> 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)
=5932.764/2912.124
=2.03726352

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=4994.586/3064.601
=1.62976714

Rush Enterprises's asset turnover of this year was 2.03726352. Rush Enterprises's asset turnover of last year was 1.62976714. ==> 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+0+0+1+1+1
=6

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

Rush Enterprises has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Rush Enterprises  (NAS:RUSHB) 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.


Rush Enterprises Piotroski F-Score Related Terms

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Rush Enterprises Business Description

Rush Enterprises logo
Traded in Other Exchanges
Address
555 IH-35 South, Suite 500, New Braunfels, TX, USA, 78130
Rush Enterprises is the only publicly traded, standalone commercial truck dealer in North America. With 120 locations, it sells 5.6% of new class 8 trucks as the largest truck dealer on the continent. Vehicle sales include class 4-8 new trucks as well as range of used commercial vehicles. Aftermarket parts and service are key drivers of profitability as they generate approximately 30% of revenue and 65% of gross profit. Rush's class 8 customers include large fleets (32%), mid-size fleets (16%), vocational customers (40%), and owner-operators (12%). In 2019, Rush generated $5.8 billion in revenue.

Rush Enterprises Headlines

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