VA has been successfully added to your Stock Email Alerts list.
You can manage your stock email alerts here.
VA has been removed from your Stock Email Alerts list.
Please enter Portfolio Name for new portfolio.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Virgin America 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 Virgin America's Piotroski F-Score or its related term are showing as below:
The historical data trend for Virgin America'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.
Virgin America Annual Data | |||||||||||
Trend | Dec11 | Dec12 | Dec13 | Dec14 | Dec15 | ||||||
Piotroski F-Score | - | - | - | - | 4.00 |
Virgin America Quarterly Data | |||||||||||||||
Dec11 | Dec12 | Sep13 | Dec13 | Mar14 | Jun14 | Sep14 | Dec14 | Mar15 | Jun15 | Sep15 | Dec15 | Mar16 | Jun16 | Sep16 | |
Piotroski F-Score | Get a 7-Day Free Trial | - | 4.00 | - | 5.00 | 5.00 |
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 (Sep16) TTM: | Last Year (Sep15) TTM: |
Net Income was 190.907 + 17.454 + 38.104 + 51.798 = $298 Mil. Cash Flow from Operations was 23.774 + 95.348 + 79.817 + 29.693 = $229 Mil. Revenue was 391.465 + 364.009 + 425.726 + 445.185 = $1,626 Mil. Gross Profit was 215.599 + 232.578 + 286.647 + 303.606 = $1,038 Mil. Average Total Assets from the begining of this year (Sep15) to the end of this year (Sep16) was (1320.488 + 1568.531 + 1729.223 + 1896.452 + 1894.266) / 5 = $1681.792 Mil. Total Assets at the begining of this year (Sep15) was $1,320 Mil. Long-Term Debt & Capital Lease Obligation was $441 Mil. Total Current Assets was $669 Mil. Total Current Liabilities was $432 Mil. |
Net Income was 3.872 + 12.786 + 64.989 + 71.856 = $154 Mil. Revenue was 372.198 + 326.351 + 400.886 + 410.881 = $1,510 Mil. Gross Profit was 193.898 + 178.977 + 248.779 + 261.475 = $883 Mil. Average Total Assets from the begining of last year (Sep14) to the end of last year (Sep15) was (778.464 + 987.585 + 1099.008 + 1183.723 + 1320.488) / 5 = $1073.8536 Mil. Total Assets at the begining of last year (Sep14) was $778 Mil. Long-Term Debt & Capital Lease Obligation was $154 Mil. Total Current Assets was $590 Mil. Total Current Liabilities was $436 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.
Virgin America's current Net Income (TTM) was 298.
==> 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.
Virgin America's current Cash Flow from Operations (TTM) was 229.
==> 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 (Sep15) |
= | 298.263 | / | 1320.488 | |
= | 0.22587331 |
ROA (Last Year) | = | Net Income | / | Total Assets (Sep14) |
= | 153.503 | / | 778.464 | |
= | 0.19718702 |
Virgin America's return on assets of this year was 0.22587331. Virgin America's return on assets of last year was 0.19718702.
==> 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.
Virgin America's current Net Income (TTM) was 298. Virgin America's current Cash Flow from Operations (TTM) was 229.
==> 229 <= 298 ==> 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: Sep16) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Sep15 to Sep16 |
= | 441.386 | / | 1681.792 | |
= | 0.26244982 |
Gearing (Last Year: Sep15) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Sep14 to Sep15 |
= | 153.756 | / | 1073.8536 | |
= | 0.14318153 |
Virgin America's gearing of this year was 0.26244982. Virgin America's gearing of last year was 0.14318153.
==> 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: Sep16) | = | Total Current Assets | / | Total Current Liabilities |
= | 669.436 | / | 431.938 | |
= | 1.5498428 |
Current Ratio (Last Year: Sep15) | = | Total Current Assets | / | Total Current Liabilities |
= | 590.235 | / | 435.676 | |
= | 1.35475675 |
Virgin America's current ratio of this year was 1.5498428. Virgin America's current ratio of last year was 1.35475675.
==> 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.
Virgin America's number of shares in issue this year was 45.018. Virgin America's number of shares in issue last year was 44.588.
==> 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 |
= | 1038.43 | / | 1626.385 | |
= | 0.63848966 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 883.129 | / | 1510.316 | |
= | 0.58473127 |
Virgin America's gross margin of this year was 0.63848966. Virgin America's gross margin of last year was 0.58473127.
==> 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 (Sep15) |
= | 1626.385 | / | 1320.488 | |
= | 1.23165451 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Sep14) |
= | 1510.316 | / | 778.464 | |
= | 1.94012311 |
Virgin America's asset turnover of this year was 1.23165451. Virgin America's asset turnover of last year was 1.94012311.
==> 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 | + | 1 | + | 0 | + | 0 | + | 1 | + | 0 | + | 1 | + | 0 | |
= | 5 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Virgin America has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Virgin America (NAS:VA) 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.
Thank you for viewing the detailed overview of Virgin America's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Stacy J Smith | director | 2200 MISSION COLLEGE BLVD., RNB-4-151, SANTA CLARA CA 95054 |
Peter D Hunt | officer: Senior VP and CFO | 1689 NONCONNAH BLVD, SUITE 111, MEMPHIS TN 38132 |
Paul Wachter | director | C/O TIME WARNER INC., ONE TIME WARNER CENTER, NEW YORK NY 10019 |
Cyrus Capital Partners, L.p. | director, 10 percent owner | 65 EAST 55 STREET, 35TH FLOOR, NEW YORK NY 10022 |
Cyrus Capital Partners Gp, Llc | director, 10 percent owner | 65 EAST 55TH STREET, 35TH FLOOR, NEW YORK NY 10022 |
Stephen C Freidheim | director, 10 percent owner | C/O CYRUS CAPITAL PARTNERS, L.P., 65 EAST 55TH STREET, 35TH FLOOR, NEW YORK NY 10022 |
Samuel K Skinner | director | 233 NORTH MICHIGAN AVENUE, 22ND FLOOR, CHICAGO IL 60601 |
Donald J Carty | director | C/O DELL INC., ONE DELL WAY, ROUND ROCK TX 78682-2244 |
Jennifer L Vogel | director | C/O AAR CORP., 1100 N. WOOD DALE ROAD, WOOD DALE IL 60191 |
Virgin Group Holdings Ltd | director, 10 percent owner, other: See Remarks | LA MOTTE CHAMBERS, ST HELIER, JERSEY X0 JE1 1BJ |
Corvina Holdings Ltd | director, 10 percent owner | LA MOTTE CHAMBERS, ST HELIER X0 JE1 1BJ |
Cyrus Opportunities Master Fund Ii, Ltd. | director, 10 percent owner | C/O CYRUS CAPITAL PARTNERS, L.P., 65 EAST 55TH STREET, 35TH FLOOR, NEW YORK NY 10022 |
Crescent 1 Lp | director, 10 percent owner | C/O CYRUS CAPITAL PARTNERS, L.P., 65 EAST 55TH STREET, 35TH FLOOR, NEW YORK NY 10022 |
Cyrus Select Opportunities Master Fund, Ltd. | director, 10 percent owner | C/O CYRUS CAPITAL PARTNERS, L.P., 65 EAST 55TH STREET, 35TH FLOOR, NEW YORK NY 10022 |
Cyrus Capital Advisors, L.l.c. | director, 10 percent owner | 399 PARK AVENUE, 39TH FLOOR, NEW YORK NY 10022 |
From GuruFocus
By reports.droy reports.droy • 03-15-2015
By TipRanks TipRanks • 02-16-2015
By Juhi Kulkarni Juhi Kulkarni • 03-29-2016
By Holly LaFon Holly LaFon • 11-11-2016
By Tiziano Frateschi Tiziano Frateschi • 04-01-2015
By Juhi Kulkarni JuhiKulkarni • 04-27-2015
By Orit Nathan Mahalal orit • 11-19-2014
By TipRanks TipRanks • 12-26-2014
By AGInv AGInv • 05-15-2015
Disclaimers: GuruFocus.com is not operated by a broker or a dealer. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. This investment adviser does not provide advice to individual investors. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.