>
Switch to:

Whole Foods Market Piotroski F-Score

: 0 (As of Today)
View and export this data going back to 1992. Start your Free Trial

The zones of discrimination were as such:

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

Whole Foods Market has an F-score of 6 indicating the company's financial situation is typical for a stable company.


Whole Foods Market Piotroski F-Score Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Whole Foods Market Annual Data
Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 6.00 6.00 5.00 6.00

Whole Foods Market Quarterly Data
Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17
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 5.00 6.00 5.00 6.00 6.00

How is the Piotroski F-Score calculated?

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

This Year (Jun17) TTM:Last Year (Jun16) TTM:
Net Income was 88 + 95 + 99 + 106 = $388 Mil.
Cash Flow from Operations was 352 + 284 + 340 + 277 = $1,253 Mil.
Revenue was 3497 + 4918 + 3737 + 3725 = $15,877 Mil.
Gross Profit was 1194 + 1650 + 1274 + 1268 = $5,386 Mil.
Average Total Assets from the begining of this year (Jun16)
to the end of this year (Jun17) was
(6275 + 6341 + 6382 + 6513 + 6610) / 5 = $6424.2 Mil.
Total Assets at the begining of this year (Jun16) was $6,275 Mil.
Long-Term Debt & Capital Lease Obligation was $1,046 Mil.
Total Current Assets was $2,191 Mil.
Total Current Liabilities was $1,324 Mil.
Net Income was 57 + 157 + 142 + 120 = $476 Mil.

Revenue was 3438 + 4829 + 3696 + 3703 = $15,666 Mil.
Gross Profit was 1186 + 1641 + 1290 + 1286 = $5,403 Mil.
Average Total Assets from the begining of last year (Jun15)
to the end of last year (Jun16) was
(6036 + 5741 + 6236 + 6362 + 6275) / 5 = $6130 Mil.
Total Assets at the begining of last year (Jun15) was $6,036 Mil.
Long-Term Debt & Capital Lease Obligation was $1,049 Mil.
Total Current Assets was $1,925 Mil.
Total Current Liabilities was $1,324 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.

Whole Foods Market's current Net Income (TTM) was 388. ==> 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.

Whole Foods Market's current Cash Flow from Operations (TTM) was 1,253. ==> 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 (Jun16)
=388/6275
=0.06183267

ROA (Last Year)=Net Income/Total Assets (Jun15)
=476/6036
=0.07886017

Whole Foods Market's return on assets of this year was 0.06183267. Whole Foods Market's return on assets of last year was 0.07886017. ==> 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.

Whole Foods Market's current Net Income (TTM) was 388. Whole Foods Market's current Cash Flow from Operations (TTM) was 1,253. ==> 1,253 > 388 ==> 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: Jun17)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun16 to Jun17
=1046/6424.2
=0.16282183

Gearing (Last Year: Jun16)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun15 to Jun16
=1049/6130
=0.17112561

Whole Foods Market's gearing of this year was 0.16282183. Whole Foods Market's gearing of last year was 0.17112561. ==> 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: Jun17)=Total Current Assets/Total Current Liabilities
=2191/1324
=1.65483384

Current Ratio (Last Year: Jun16)=Total Current Assets/Total Current Liabilities
=1925/1324
=1.45392749

Whole Foods Market's current ratio of this year was 1.65483384. Whole Foods Market's current ratio of last year was 1.45392749. ==> 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.

Whole Foods Market's number of shares in issue this year was 320.3. Whole Foods Market's number of shares in issue last year was 321.2. ==> 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
=5386/15877
=0.33923285

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=5403/15666
=0.34488702

Whole Foods Market's gross margin of this year was 0.33923285. Whole Foods Market's gross margin of last year was 0.34488702. ==> 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 (Jun16)
=15877/6275
=2.5301992

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun15)
=15666/6036
=2.59542744

Whole Foods Market's asset turnover of this year was 2.5301992. Whole Foods Market's asset turnover of last year was 2.59542744. ==> 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+1+0+0
=6

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

Whole Foods Market has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Whole Foods Market  (NAS:WFM) 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.


Whole Foods Market Piotroski F-Score Related Terms


Whole Foods Market Piotroski F-Score Headlines

No Headline

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)