BEE has been successfully added to your Stock Email Alerts list.
You can manage your stock email alerts here.
BEE 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
Strategic Hotels & Resorts 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 Strategic Hotels & Resorts's Piotroski F-Score or its related term are showing as below:
The historical data trend for Strategic Hotels & Resorts'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.
Strategic Hotels & Resorts Annual Data | |||||||||||||||||||||
Trend | Dec05 | Dec06 | Dec07 | Dec08 | Dec09 | Dec10 | Dec11 | Dec12 | Dec13 | Dec14 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 5.00 | 6.00 | 5.00 | 8.00 | 6.00 |
Strategic Hotels & Resorts Quarterly Data | ||||||||||||||||||||
Dec10 | Mar11 | Jun11 | Sep11 | Dec11 | Mar12 | Jun12 | Sep12 | Dec12 | Mar13 | Jun13 | Sep13 | Dec13 | Mar14 | Jun14 | Sep14 | Dec14 | Mar15 | Jun15 | Sep15 | |
Piotroski F-Score | Get a 7-Day Free Trial | 6.00 | 6.00 | 6.00 | 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 (Sep15) TTM: | Last Year (Sep14) TTM: |
Net Income was 6.702 + 15.811 + 6.698 + 23.261 = $52 Mil. Cash Flow from Operations was 57.173 + 51.307 + 22.764 + 97.296 = $229 Mil. Revenue was 313.001 + 325.271 + 356.902 + 354.434 = $1,350 Mil. Gross Profit was 87.888 + 92.961 + 110.1 + 106.616 = $398 Mil. Average Total Assets from the begining of this year (Sep14) to the end of this year (Sep15) was (3309.914 + 3619.157 + 3791.011 + 3735.414 + 3744.922) / 5 = $3640.0836 Mil. Total Assets at the begining of this year (Sep14) was $3,310 Mil. Long-Term Debt & Capital Lease Obligation was $1,762 Mil. Total Current Assets was $274 Mil. Total Current Liabilities was $262 Mil. |
Net Income was 9.264 + 226.982 + 88.009 + 22.79 = $347 Mil. Revenue was 231.819 + 194.655 + 276.163 + 305.263 = $1,008 Mil. Gross Profit was 68.739 + 35.83 + 84.748 + 92.248 = $282 Mil. Average Total Assets from the begining of last year (Sep13) to the end of last year (Sep14) was (2361.307 + 2337.151 + 2493.249 + 3338.246 + 3309.914) / 5 = $2767.9734 Mil. Total Assets at the begining of last year (Sep13) was $2,361 Mil. Long-Term Debt & Capital Lease Obligation was $1,667 Mil. Total Current Assets was $393 Mil. Total Current Liabilities was $215 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 Hotels & Resorts's current Net Income (TTM) was 52.
==> 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 Hotels & Resorts'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 (Sep14) |
= | 52.472 | / | 3309.914 | |
= | 0.01585298 |
ROA (Last Year) | = | Net Income | / | Total Assets (Sep13) |
= | 347.045 | / | 2361.307 | |
= | 0.14697157 |
Strategic Hotels & Resorts's return on assets of this year was 0.01585298. Strategic Hotels & Resorts's return on assets of last year was 0.14697157.
==> 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 Hotels & Resorts's current Net Income (TTM) was 52. Strategic Hotels & Resorts's current Cash Flow from Operations (TTM) was 229.
==> 229 > 52 ==> 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: Sep15) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Sep14 to Sep15 |
= | 1762.206 | / | 3640.0836 | |
= | 0.48411141 |
Gearing (Last Year: Sep14) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Sep13 to Sep14 |
= | 1666.614 | / | 2767.9734 | |
= | 0.60210622 |
Strategic Hotels & Resorts's gearing of this year was 0.48411141. Strategic Hotels & Resorts's gearing of last year was 0.60210622.
==> 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: Sep15) | = | Total Current Assets | / | Total Current Liabilities |
= | 274.071 | / | 262.144 | |
= | 1.04549789 |
Current Ratio (Last Year: Sep14) | = | Total Current Assets | / | Total Current Liabilities |
= | 392.59 | / | 214.627 | |
= | 1.8291734 |
Strategic Hotels & Resorts's current ratio of this year was 1.04549789. Strategic Hotels & Resorts's current ratio of last year was 1.8291734.
==> 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 Hotels & Resorts's number of shares in issue this year was 282.659. Strategic Hotels & Resorts's number of shares in issue last year was 260.257.
==> 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 |
= | 397.565 | / | 1349.608 | |
= | 0.29457813 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 281.565 | / | 1007.9 | |
= | 0.27935807 |
Strategic Hotels & Resorts's gross margin of this year was 0.29457813. Strategic Hotels & Resorts's gross margin of last year was 0.27935807.
==> 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 (Sep14) |
= | 1349.608 | / | 3309.914 | |
= | 0.40774715 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Sep13) |
= | 1007.9 | / | 2361.307 | |
= | 0.42683988 |
Strategic Hotels & Resorts's asset turnover of this year was 0.40774715. Strategic Hotels & Resorts's asset turnover of last year was 0.42683988.
==> 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 | + | 0 | + | 0 | + | 1 | + | 0 | |
= | 5 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Strategic Hotels & Resorts has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Strategic Hotels & Resorts (NYSE:BEE) 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 Strategic Hotels & Resorts's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Gellein Raymond L Jr | director, officer: President and CEO | STARWOOD HOTELS & RESORTS WORLDWIDE, INC, 1111 WESTCHESTER AVENUE, WHITE PLAINS NY 10604 |
Robert P Bowen | director | |
Sheli Z Rosenberg | director | C/O EQUITY GROUP INVESTMENTS, L.L.C., TWO NORTH RIVERSIDE PLAZA, SUITE 600, CHICAGO IL 60606 |
Eugene F Reilly | director | C/O AMB PROPERTY CORP, PIER I BAY 1, SAN FRANCISCO CA 94111 |
David William Johnson | director | 4100 MIDWAY ROAD, SUITE 2115, CARROLLTON TX 75007 |
Diane M Morefield | officer: EVP & CFO | 200 W. MADISON STREET, SUITE 1700, CHICAGO IL 60606 |
Richard D Kincaid | director | EQUITY OFFICE PROPERTIES, CHICAGO IL 60606 |
Laurence S Geller | director, officer: President and CEO | 77 WEST WACKER DRIVE, CHICAGO IL 60601 |
Thomas H Patrick | other: Member of 10% Owner Group | C/O BALDWIN & LYONS INC, 1099 NORTH MERIDIAN STREET, INDIANAPOLIS IN 46204 |
James E Mead | officer: Ex. VP & CFO | C/O STRATEGIC HOTEL CAPITAL, INC., 77 WEST WACKER DRIVE, SUITE 4600, CHICAGO IL 60601 |
Security Capital Research & Management Inc | other: Previously was 10% owner | 10 SOUTH DEARBORN STREET, SUITE 1400, CHICAGO IL 60603 |
Edward C Coppola | director | THE MACERICH COMPANY, 401 WILSHIRE BVLD., STE. 700, SANTA MONICA CA 90401 |
Michael W Brennan | director | C/O FIRST INDUSTRIAL REALTY TRUST, 311 SOUTH WACKER DR, STE. 4000, CHICAGO IL 60606 |
Jonathan A Langer | other: Former Director | C/O GOLDMAN, SACHS & CO., 85 BROAD STREET, NEW YORK NY 10004 |
Prudential Financial Inc | director | 751 BROAD ST, NEWARK NJ 07102 |
From GuruFocus
By gurufocus 10qk • 11-05-2009
By gurufocus • 08-06-2009
By gurufocus 10qk • 05-06-2010
By gurufocus 10qk • 08-05-2010
By gurufocus 10qk • 11-04-2010
By Holly LaFon Holly LaFon • 04-15-2011
By gurufocus • 05-08-2009
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.