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Strategic Education Piotroski F-Score

: 3 (As of Today)
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Warning Sign:

Piotroski F-Score of 3 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

Strategic Education has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

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

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

3
9

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


Strategic Education Piotroski F-Score Historical Data

The historical data trend for Strategic Education'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.

Strategic Education Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 5.00 6.00 5.00 4.00

Strategic Education Quarterly Data
Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
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 4.00 4.00 4.00 3.00

Competitive Comparison

For the Education & Training Services subindustry, Strategic Education'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.

   

Strategic Education Piotroski F-Score Distribution

For the Education industry and Consumer Defensive sector, Strategic Education's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Strategic Education'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 (Sep21) TTM:Last Year (Sep20) TTM:
Net Income was 5.917 + 9.577 + 19.976 + 3.854 = $39 Mil.
Cash Flow from Operations was -15.881 + 78.781 + 47.05 + 35.332 = $145 Mil.
Revenue was 267.494 + 290.336 + 299.173 + 270.078 = $1,127 Mil.
Gross Profit was 120.487 + 137.531 + 146.235 + 116.427 = $521 Mil.
Average Total Assets from the begining of this year (Sep20)
to the end of this year (Sep21) was
(2047.319 + 2295.807 + 2369.442 + 2363.313 + 2316.122) / 5 = $2278.4006 Mil.
Total Assets at the begining of this year (Sep20) was $2,047 Mil.
Long-Term Debt & Capital Lease Obligation was $281 Mil.
Total Current Assets was $406 Mil.
Total Current Liabilities was $256 Mil.
Net Income was 28.537 + 35.239 + 34.152 + 10.96 = $109 Mil.

Revenue was 263.772 + 265.302 + 255.831 + 239.026 = $1,024 Mil.
Gross Profit was 130.449 + 132.366 + 130.287 + 111.852 = $505 Mil.
Average Total Assets from the begining of last year (Sep19)
to the end of last year (Sep20) was
(1781.196 + 1789.408 + 1783.821 + 1791.564 + 2047.319) / 5 = $1838.6616 Mil.
Total Assets at the begining of last year (Sep19) was $1,781 Mil.
Long-Term Debt & Capital Lease Obligation was $77 Mil.
Total Current Assets was $806 Mil.
Total Current Liabilities was $195 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.

Strategic Education's current Net Income (TTM) was 39. ==> 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.

Strategic Education's current Cash Flow from Operations (TTM) was 145. ==> 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 (Sep20)
=39.324/2047.319
=0.01920756

ROA (Last Year)=Net Income/Total Assets (Sep19)
=108.888/1781.196
=0.06113196

Strategic Education's return on assets of this year was 0.01920756. Strategic Education's return on assets of last year was 0.06113196. ==> 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.

Strategic Education's current Net Income (TTM) was 39. Strategic Education's current Cash Flow from Operations (TTM) was 145. ==> 145 > 39 ==> 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: Sep21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep20 to Sep21
=280.624/2278.4006
=0.1231671

Gearing (Last Year: Sep20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep19 to Sep20
=76.802/1838.6616
=0.0417706

Strategic Education's gearing of this year was 0.1231671. Strategic Education's gearing of last year was 0.0417706. ==> 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: Sep21)=Total Current Assets/Total Current Liabilities
=406.481/255.648
=1.59000266

Current Ratio (Last Year: Sep20)=Total Current Assets/Total Current Liabilities
=806.375/195.295
=4.12900996

Strategic Education's current ratio of this year was 1.59000266. Strategic Education's current ratio of last year was 4.12900996. ==> 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.

Strategic Education's number of shares in issue this year was 24.113. Strategic Education's number of shares in issue last year was 23.214. ==> 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
=520.68/1127.081
=0.46197212

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=504.954/1023.931
=0.49315237

Strategic Education's gross margin of this year was 0.46197212. Strategic Education's gross margin of last year was 0.49315237. ==> 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 (Sep20)
=1127.081/2047.319
=0.55051558

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep19)
=1023.931/1781.196
=0.57485588

Strategic Education's asset turnover of this year was 0.55051558. Strategic Education's asset turnover of last year was 0.57485588. ==> 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+0+0+0+0+0
=3

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

Strategic Education has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Strategic Education  (NAS:STRA) 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.


Strategic Education Piotroski F-Score Related Terms

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


Strategic Education Business Description

Strategic Education logo
Industry
Consumer Defensive » Education NAICS : 611310 SIC : 8299
Traded in Other Exchanges
Address
2303 Dulles Station Boulevard, Herndon, VA, USA, 20171
Strategic Education Inc is engaged in providing educational services. It offers flexible and affordable associate, bachelor's, master's, and doctoral programs. Strategic Education provides courses in the eastern United States. The group operates through segments namely: Strayer University Segment, Capella University Segment, and Australia/New Zealand Segment.
Executives
Grusky Robert R director C/O STRAYER EDUCATION INC 2303 DULLES STATION BOULEVARD HERNDON VA 20171
Casteen John T Iii director 301 S. COLLEGE STREET 30TH FLOOR, NC0630 CHARLOTTE NC 28288-0630
Gilligan J Kevin director, Vice Chairman P O BOX 1441 MINNEAPOLIS MN 55440-1441
Fick Nathaniel C. director C/O STRAYER EDUCATION 2303 DULLES STATION BLVD. HERNDON VA 20171
Dallas H James director 127 PUBLIC SQUARE CLEVELAND OH 44114
Brogley Rita D director 225 SOUTH 6TH STREET, 9TH FLOOR MINNEAPOLIS MN 55402
Waite G Thomas Iii director C/O STRAYER EDUCATION INC 2303 DULLES STATION BOULEVARD HERNDON VA 20171
Beason Charlotte F director C/O STRAYER EDUCATION INC 2303 DULLES STATION BOULEVARD HERNDON VA 20171
Aprahamian Thomas J officer: Chief Accounting Officer 2303 DULLES STATION BOULEVARD HERNDON VA 20171
Hokenson Christa officer: Chief Human Resources Officer C/O STRATEGIC EDUCATION, INC. 2303 DULLES STATION BOULEVARD HERNDON VA 20171
Mcdonnell Raymond Karl director, officer: Chief Executive Officer C/O STRAYER EDUCATION INC 2303 DULLES STATION BOULEVARD HERNDON VA 20171
Jackson Daniel Wayne officer: Chief Financial Officer C/O STRAYER EDUCATION INC. 2303 DULLES STATION BOULEVARD HERNDON VA 20171
Watt Andrew E officer: Chief Operating Officer 225 SOUTH SIXTH STREET 9TH FLOOR MINNEAPOLIS MN 55402
Herraiz Lizette Benedi officer: General Counsel 2303 DULLES STATION BOULEVARD HERNDON VA 20171
Silberman Robert S director, officer: Executive Chairman C/O STRAYER EDUCATION INC 2303 DULLES STATION BOULEVARD HERNDON VA 20171

Strategic Education Headlines

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