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Take-Two Interactive Software 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

Take-Two Interactive Software 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 Take-Two Interactive Software's Piotroski F-Score or its related term are showing as below:

TTWO' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 3

During the past 13 years, the highest Piotroski F-Score of Take-Two Interactive Software was 8. The lowest was 3. And the median was 6.


Take-Two Interactive Software Piotroski F-Score Historical Data

The historical data trend for Take-Two Interactive Software'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.

Take-Two Interactive Software Annual Data
Trend Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 8.00 8.00 7.00 3.00

Take-Two Interactive Software 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 6.00 4.00 4.00 3.00 -

Competitive Comparison

For the Electronic Gaming & Multimedia subindustry, Take-Two Interactive Software'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.

   

Take-Two Interactive Software Piotroski F-Score Distribution

For the Interactive Media industry and Communication Services sector, Take-Two Interactive Software's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Take-Two Interactive Software'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 10.297 + 144.497 + 110.972 + -104 = $162 Mil.
Cash Flow from Operations was 135.437 + -264.518 + 238.823 + 100.8 = $211 Mil.
Revenue was 858.198 + 903.252 + 930.004 + 1102.4 = $3,794 Mil.
Gross Profit was 401.516 + 552.873 + 531.379 + 666.7 = $2,152 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(6314.255 + 6619.031 + 6357.953 + 6546.219 + 17744.9) / 5 = $8716.4716 Mil.
Total Assets at the begining of this year (Jun21) was $6,314 Mil.
Long-Term Debt & Capital Lease Obligation was $3,277 Mil.
Total Current Assets was $3,036 Mil.
Total Current Liabilities was $3,287 Mil.
Net Income was 99.321 + 182.248 + 218.812 + 152.256 = $653 Mil.

Revenue was 841.142 + 860.889 + 839.431 + 813.346 = $3,355 Mil.
Gross Profit was 408.637 + 514.645 + 559.784 + 483.631 = $1,967 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(5369.241 + 5836.154 + 5966.099 + 6028.218 + 6314.255) / 5 = $5902.7934 Mil.
Total Assets at the begining of last year (Jun20) was $5,369 Mil.
Long-Term Debt & Capital Lease Obligation was $157 Mil.
Total Current Assets was $4,014 Mil.
Total Current Liabilities was $2,165 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.

Take-Two Interactive Software's current Net Income (TTM) was 162. ==> 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.

Take-Two Interactive Software's current Cash Flow from Operations (TTM) was 211. ==> 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)
=161.766/6314.255
=0.02561917

ROA (Last Year)=Net Income/Total Assets (Jun20)
=652.637/5369.241
=0.12155107

Take-Two Interactive Software's return on assets of this year was 0.02561917. Take-Two Interactive Software's return on assets of last year was 0.12155107. ==> 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.

Take-Two Interactive Software's current Net Income (TTM) was 162. Take-Two Interactive Software's current Cash Flow from Operations (TTM) was 211. ==> 211 > 162 ==> 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: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=3276.7/8716.4716
=0.37592046

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=156.951/5902.7934
=0.02658928

Take-Two Interactive Software's gearing of this year was 0.37592046. Take-Two Interactive Software's gearing of last year was 0.02658928. ==> 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
=3036/3286.7
=0.92372288

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=4013.612/2165.329
=1.85358068

Take-Two Interactive Software's current ratio of this year was 0.92372288. Take-Two Interactive Software's current ratio of last year was 1.85358068. ==> 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.

Take-Two Interactive Software's number of shares in issue this year was 136.5. Take-Two Interactive Software's number of shares in issue last year was 117.13. ==> 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
=2152.468/3793.854
=0.56735657

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1966.697/3354.808
=0.58623236

Take-Two Interactive Software's gross margin of this year was 0.56735657. Take-Two Interactive Software's gross margin of last year was 0.58623236. ==> 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)
=3793.854/6314.255
=0.60083953

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=3354.808/5369.241
=0.62481978

Take-Two Interactive Software's asset turnover of this year was 0.60083953. Take-Two Interactive Software's asset turnover of last year was 0.62481978. ==> 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

Take-Two Interactive Software has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Take-Two Interactive Software  (NAS:TTWO) 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.


Take-Two Interactive Software Piotroski F-Score Related Terms

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Take-Two Interactive Software Business Description

Take-Two Interactive Software logo
Address
110 West 44th Street, New York, NY, USA, 10036
Found in 1993, Take-Two consists of two wholly owned labels, Rockstar Games and 2K. The firm is one of the world's largest independent video game publishers on consoles, PCs, smartphones, and tablets. Take-Two's franchise portfolio is headlined by "Grand Theft Auto" (345 million units sold) and contains other well-known titles such as "NBA 2K," "Civilization," "Borderlands," "Bioshock," and "Xcom."
Executives
Gordon William B director
Siminoff Ellen F director 555 ELLIS STREET MOUNTAIN VIEW CA 94043
Hernandez Roland A director 300 NORTH SAN RAFAEL AVE PASADENA CA 91105
Viera Paul E director C/O TAKE-TWO INTERACTIVE SOFTWARE, INC. 110 WEST 44TH STREET NEW YORK NY 10036
Srinivasan Laverne Evans director C/O TAKE-TWO INTERACTIVE SOFTWARE, INC. 622 BROADWAY NEW YORK NY 10012
Emerson Daniel P officer: General Counsel 622 BROADWAY NEW YORK NY 10012
Tolson Susan director C/O TAKE-TWO INTERACTIVE SOFTWARE, INC. 622 BROADWAY NEW YORK NY 10019
Feder Benjamim officer: Chief Executive Officer C/O ZELNICKMEDIA CORPORATION 650 5TH AVENUE NEW YORK NY 10019
Slatoff Karl officer: Executive Vice President C/O ZELNICKMEDIA CORPORATION 19 WEST 44TH STREET, 18TH FLOOR NEW YORK NY 10036
Icahn Brett director C/O ICAHN ENTERPRISES L.P. 16690 COLLINS AVE., PH SUNNY ISLES FL 33160
Nelson James Larry director 2747 PARADISE ROAD PH2804 LAS VEGAS NV 89109
Cho Sunghwan director C/O ICAHN ENTERPRISES L.P. 16690 COLLINS AVE., PH SUNNY ISLES FL 33160
Zelnick Strauss director, officer: Executive Chairman C/O ZELNICKMEDIA 650 FIFTH AVE 31ST FLOOR NEW YORK NY 10019
Goldstein Lainie officer: Chief Financial Officer C/O TAKE-TWO INTERACTIVE SOFTWARE, INC. 622 BROADWAY NEW YORK NY 10012
Krauss Seth D officer: Exec VP and General Counsel C/O TAKE-TWO INTERACTIVE SOFTWARE, INC. 222 BROADWAY NEW YORK NY 10012

Take-Two Interactive Software Headlines

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