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SCVL (Shoe Carnival) Piotroski F-Score : 5 (As of Jul. 12, 2025)


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What is Shoe Carnival Piotroski F-Score?

The zones of discrimination were as such:

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

Shoe Carnival 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 Shoe Carnival's Piotroski F-Score or its related term are showing as below:

SCVL' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 9
Current: 5

During the past 13 years, the highest Piotroski F-Score of Shoe Carnival was 9. The lowest was 3. And the median was 6.


Shoe Carnival Piotroski F-Score Historical Data

The historical data trend for Shoe Carnival'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.

Shoe Carnival Piotroski F-Score Chart

Shoe Carnival Annual Data
Trend Jan16 Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24 Jan25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 8.00 4.00 6.00 5.00

Shoe Carnival Quarterly Data
Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25
Piotroski F-Score Get a 7-Day Free Trial 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 5.00 5.00 5.00 5.00 5.00

Competitive Comparison of Shoe Carnival's Piotroski F-Score

For the Apparel Retail subindustry, Shoe Carnival'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.


Shoe Carnival's Piotroski F-Score Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Shoe Carnival's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Shoe Carnival's Piotroski F-Score falls into.


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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 (Apr25) TTM:Last Year (Apr24) TTM:
Net Income was 22.573 + 19.242 + 14.665 + 9.343 = $66 Mil.
Cash Flow from Operations was 23.683 + 17.346 + 44.55 + -9.637 = $76 Mil.
Revenue was 332.696 + 306.885 + 262.939 + 277.715 = $1,180 Mil.
Gross Profit was 119.943 + 110.382 + 91.669 + 95.777 = $418 Mil.
Average Total Assets from the begining of this year (Apr24)
to the end of this year (Apr25) was
(1092.582 + 1115.027 + 1124.429 + 1124.133 + 1140.158) / 5 = $1119.2658 Mil.
Total Assets at the begining of this year (Apr24) was $1,093 Mil.
Long-Term Debt & Capital Lease Obligation was $307 Mil.
Total Current Assets was $549 Mil.
Total Current Liabilities was $150 Mil.
Net Income was 19.441 + 21.861 + 15.52 + 17.286 = $74 Mil.

Revenue was 294.615 + 319.914 + 280.169 + 300.365 = $1,195 Mil.
Gross Profit was 105.465 + 117.701 + 99.707 + 106.8 = $430 Mil.
Average Total Assets from the begining of last year (Apr23)
to the end of last year (Apr24) was
(976.629 + 1043.204 + 1023.472 + 1042.025 + 1092.582) / 5 = $1035.5824 Mil.
Total Assets at the begining of last year (Apr23) was $977 Mil.
Long-Term Debt & Capital Lease Obligation was $313 Mil.
Total Current Assets was $505 Mil.
Total Current Liabilities was $149 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.

Shoe Carnival's current Net Income (TTM) was 66. ==> 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.

Shoe Carnival's current Cash Flow from Operations (TTM) was 76. ==> 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 (Apr24)
=65.823/1092.582
=0.06024536

ROA (Last Year)=Net Income/Total Assets (Apr23)
=74.108/976.629
=0.07588142

Shoe Carnival's return on assets of this year was 0.06024536. Shoe Carnival's return on assets of last year was 0.07588142. ==> 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.

Shoe Carnival's current Net Income (TTM) was 66. Shoe Carnival's current Cash Flow from Operations (TTM) was 76. ==> 76 > 66 ==> 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: Apr25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Apr24 to Apr25
=306.987/1119.2658
=0.27427533

Gearing (Last Year: Apr24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Apr23 to Apr24
=313.302/1035.5824
=0.30253701

Shoe Carnival's gearing of this year was 0.27427533. Shoe Carnival's gearing of last year was 0.30253701. ==> 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: Apr25)=Total Current Assets/Total Current Liabilities
=548.631/149.646
=3.66619221

Current Ratio (Last Year: Apr24)=Total Current Assets/Total Current Liabilities
=504.953/149.197
=3.38447154

Shoe Carnival's current ratio of this year was 3.66619221. Shoe Carnival's current ratio of last year was 3.38447154. ==> 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.

Shoe Carnival's number of shares in issue this year was 27.476. Shoe Carnival's number of shares in issue last year was 27.408. ==> 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
=417.771/1180.235
=0.35397273

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=429.673/1195.063
=0.35954004

Shoe Carnival's gross margin of this year was 0.35397273. Shoe Carnival's gross margin of last year was 0.35954004. ==> 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 (Apr24)
=1180.235/1092.582
=1.08022556

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Apr23)
=1195.063/976.629
=1.22366119

Shoe Carnival's asset turnover of this year was 1.08022556. Shoe Carnival's asset turnover of last year was 1.22366119. ==> 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+0+1+1+1+0+0+0
=5

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

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

Shoe Carnival  (NAS:SCVL) 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.


Shoe Carnival Piotroski F-Score Related Terms

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Shoe Carnival Business Description

Traded in Other Exchanges
N/A
Address
7500 East Columbia Street, Evansville, IN, USA, 47715
Shoe Carnival Inc is a family footwear retailer that offers a broad assortment of dress, casual, and athletic footwear for men, women, and children with an emphasis on national name brands such as Nike, Skechers, Adidas, Puma, HEYDUDE, Converse, Vans, and Crocs. The company operates its business as one reportable segment based on the similar nature of products sold; merchandising, distribution, and marketing processes involved; target customers; and economic characteristics of stores and e-commerce platforms. Its bricks-first, omnichannel approach provides customers easy access to a wide assortment of branded footwear for work, athletics, daily activities, and special events via a choice of delivery channels.
Executives
Delores B Weaver 10 percent owner TWO STAMFORD PLAZA, 281 TRESSER BLVD P O BOX 1214, STAMFORD CT 06904-1214
Wayne J Weaver director, 10 percent owner, officer: CHAIRMAN OF THE BOARD TWO STAMFORD PLAZA, 281 TRESSER BLVD P O BOX 1214, STAMFORD CT 06904-1214
Andrea R. Guthrie director 7500 EAST COLUMBIA STREET, EVANSVILLE IN 47715
Carl N. Scibetta officer: EVP - GENERAL MERCHANDISE MGR 7500 EAST COLUMBIA STREET, EVANSVILLE IN 47715
Erik D Gast officer: EVP - Chief Financial Officer 7500 EAST COLUMBIA STREET, EVANSVILLE IN 47715
Diane Randolph director 1500 SOLANA BLVD, SUITE 3400, WESTLAKE TX 76262
Charles B. Tomm director 201 N. FRANKLIN STREET, SUITE 2800, TAMPA FL 33602
Kent A Kleeberger director
W Kerry Jackson officer: EXECUTIVE VICE PRESIDENT - CFO
Timothy T Baker officer: EXECUTIVE VICE PRESIDENT -
Marc A. Chilton officer: EVP-Chief Operations Officer 7500 E. COLUMBIA STREET, EVANSVILLE IN 47715
Patrick C. Edwards officer: VP, CAO (PAO) 7500 E. COLUMBIA STREET, EVANSVILLE IN 47715
James A Aschleman director 300 N MERIDIAN ST STE 2700, INDIANAPOLIS IN 46204
Clifton E Sifford officer: EXECUTIVE VICE PRESIDENT -
Jeffrey C Gerstel director 933 MACARTHUR BOULEVARD, MAHWAH NJ 07430