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Sonos 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

Sonos has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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

SONO' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 7   Max: 8
Current: 5

During the past 7 years, the highest Piotroski F-Score of Sonos was 8. The lowest was 2. And the median was 7.


Sonos Piotroski F-Score Historical Data

The historical data trend for Sonos'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.

Sonos Annual Data
Trend Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21
Piotroski F-Score
Premium Member Only Premium Member Only N/A N/A 5.00 3.00 8.00

Sonos 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 5.00 -

Competitive Comparison

For the Consumer Electronics subindustry, Sonos'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.

   

Sonos Piotroski F-Score Distribution

For the Hardware industry and Technology sector, Sonos's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Sonos'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 -8.744 + 123.481 + 8.566 + -0.597 = $123 Mil.
Cash Flow from Operations was 6.485 + 179.934 + -97.56 + -6.717 = $82 Mil.
Revenue was 359.54 + 664.481 + 399.781 + 371.783 = $1,796 Mil.
Gross Profit was 166.932 + 317.385 + 179.034 + 175.848 = $839 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(1084.098 + 1138.804 + 1372.743 + 1226.231 + 1243.23) / 5 = $1213.0212 Mil.
Total Assets at the begining of this year (Jun21) was $1,084 Mil.
Long-Term Debt & Capital Lease Obligation was $26 Mil.
Total Current Assets was $923 Mil.
Total Current Liabilities was $505 Mil.
Net Income was 18.411 + 132.292 + 17.221 + 17.826 = $186 Mil.

Revenue was 339.837 + 645.584 + 332.949 + 378.672 = $1,697 Mil.
Gross Profit was 161.536 + 299.425 + 165.776 + 177.861 = $805 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(644.628 + 816.051 + 1066.86 + 1048.286 + 1084.098) / 5 = $931.9846 Mil.
Total Assets at the begining of last year (Jun20) was $645 Mil.
Long-Term Debt & Capital Lease Obligation was $37 Mil.
Total Current Assets was $912 Mil.
Total Current Liabilities was $401 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.

Sonos's current Net Income (TTM) was 123. ==> 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.

Sonos's current Cash Flow from Operations (TTM) was 82. ==> 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)
=122.706/1084.098
=0.11318718

ROA (Last Year)=Net Income/Total Assets (Jun20)
=185.75/644.628
=0.28815069

Sonos's return on assets of this year was 0.11318718. Sonos's return on assets of last year was 0.28815069. ==> 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.

Sonos's current Net Income (TTM) was 123. Sonos's current Cash Flow from Operations (TTM) was 82. ==> 82 <= 123 ==> 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
=26.118/1213.0212
=0.02153136

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=36.501/931.9846
=0.03916481

Sonos's gearing of this year was 0.02153136. Sonos's gearing of last year was 0.03916481. ==> 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
=923.464/505.22
=1.8278453

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=911.694/400.919
=2.27401046

Sonos's current ratio of this year was 1.8278453. Sonos's current ratio of last year was 2.27401046. ==> 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.

Sonos's number of shares in issue this year was 127.884. Sonos's number of shares in issue last year was 144.182. ==> 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
=839.199/1795.585
=0.46736802

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=804.598/1697.042
=0.47411791

Sonos's gross margin of this year was 0.46736802. Sonos's gross margin of last year was 0.47411791. ==> 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)
=1795.585/1084.098
=1.65629399

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=1697.042/644.628
=2.6325912

Sonos's asset turnover of this year was 1.65629399. Sonos's asset turnover of last year was 2.6325912. ==> 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+0+1+0+1+0+0
=4

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

Sonos has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Sonos  (NAS:SONO) 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.


Sonos Piotroski F-Score Related Terms

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


Sonos Business Description

Sonos logo
Traded in Other Exchanges
Address
614 Chapala Street, Santa Barbara, CA, USA, 93101
Sonos Inc is engaged in providing home sound systems. The company's product profile includes speaker sets and other accessories like boost, mounts, stands, and cables and networking. Geographically, the company operates in the Americas, Europe, the Middle East and Africa, and the Asia Pacific. Generating a majority of its revenue from the Americas.
Executives
Panay Panos director 614 CHAPALA STREET SANTA BARBARA CA 93101
Findlay Deirdre director C/O SONOS, INC. 614 CHAPALA STREET SANTA BARBARA CA 93101
Coles Joanna director C/O SNAP INC. 3000 31ST STREET SANTA MONICA CA 90405
Perri David officer: Chief Operations Officer C/O SONOS, INC. 614 CHAPALA STREET SANTA BARBARA CA 93101
Fraser Anna officer: Chief People Officer C/O SONOS INC. 614 CHAPALA STREET SANTA BARBARA CA 93101
Lazarus Edward P officer: Chief Legal Officer & Secty. C/O TRIBUNE COMPANY 435 NORTH MICHIGAN AVENUE CHICAGO IL 60611
Index Ventures Growth I (jersey) L.p. 10 percent owner NO.1 SEATON PLACE, ST. HELIER JERSEY (CHANNEL ISLANDS) XX JE4 8YJ
Volpi Michelangelo director C/O HORTONWORKS, INC. 3640 W. BAYSHORE RD. PALO ALTO CA 94303
Index Venture Growth Associates I Ltd 10 percent owner 5TH FLOOR, 44 ESPLANADE ST HELIER, CHANNEL ISLANDS Y9 JE1 3FG
Index Ventures Growth I Parallel Entrepreneur Fund (jersey) L.p. 10 percent owner NO.1 SEATON PLACE, ST. HELIER JERSEY (CHANNEL ISLANDS) XX JE4 8YJ
Yucca (jersey) Slp 10 percent owner NO. 1 SEATON PLACE ST. HELIER Y9 Y9 JE48YJ
Spence Patrick director, officer: Chief Executive Officer C/O SONOS, INC. 614 CHAPALA STREET SANTA BARBARA CA 93101
Giannetto Michael officer: Chief Financial Officer 210 CARNEGIE CENTER PRINCETON NJ 08540
Conrad Thomas director 2101 WEBSTER STREET SUITE 1650 OAKLAND CA 94612
Kkr Stream Holdings Llc 10 percent owner 9 WEST 57TH STREET, SUITE 4200 NEW YORK NY 10019

Sonos Headlines

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