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Blackstone Senior Floating Rate Term Fund Piotroski F-Score

: 5 (As of Today)
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The zones of discrimination were as such:

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

Blackstone Senior Floating Rate Term Fund 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 Blackstone Senior Floating Rate Term Fund's Piotroski F-Score or its related term are showing as below:

NYSE:BSL' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 5   Max: 8
Current: 5

5
8

During the past 5 years, the highest Piotroski F-Score of Blackstone Senior Floating Rate Term Fund was 8. The lowest was 5. And the median was 5.


Blackstone Senior Floating Rate Term Fund Piotroski F-Score Historical Data

The historical data trend for Blackstone Senior Floating Rate Term Fund'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.

Blackstone Senior Floating Rate Term Fund Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20
Piotroski F-Score
N/A N/A 5.00 8.00 5.00

Blackstone Senior Floating Rate Term Fund Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - 8.00 - 5.00 -

Competitive Comparison

For the Asset Management subindustry, Blackstone Senior Floating Rate Term Fund'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.

   

Blackstone Senior Floating Rate Term Fund Piotroski F-Score Distribution

For the Asset Management industry and Financial Services sector, Blackstone Senior Floating Rate Term Fund's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Blackstone Senior Floating Rate Term Fund'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 (Dec20) TTM:Last Year (Dec19) TTM:
Net Income was $2.89 Mil.
Cash Flow from Operations was $62.66 Mil.
Revenue was $4.14 Mil.
Average Total Assets from the begining of this year (Dec19)
to the end of this year (Dec20) was (386.73 + 332.374) / 2 = $359.552 Mil.
Total Assets at the begining of this year (Dec19) was $386.73 Mil.
Long-Term Debt & Capital Lease Obligation was $100.01 Mil.
Total Assets was $332.37 Mil.
Total Liabilities was $117.12 Mil.
Net Income was $19.04 Mil.

Revenue was $20.29 Mil.
Average Total Assets from the begining of last year (Dec18)
to the end of last year (Dec19) was (394.56 + 386.73) / 2 = $390.645 Mil.
Total Assets at the begining of last year (Dec18) was $394.56 Mil.
Long-Term Debt & Capital Lease Obligation was $123.50 Mil.
Total Assets was $386.73 Mil.
Total Liabilities was $135.88 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.

Blackstone Senior Floating Rate Term Fund's current Net Income (TTM) was 2.89. ==> 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.

Blackstone Senior Floating Rate Term Fund's current Cash Flow from Operations (TTM) was 62.66. ==> 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 (Dec19)
=2.886/386.73
=0.00746257

ROA (Last Year)=Net Income/Total Assets (Dec18)
=19.044/394.56
=0.04826642

Blackstone Senior Floating Rate Term Fund's return on assets of this year was 0.00746257. Blackstone Senior Floating Rate Term Fund's return on assets of last year was 0.04826642. ==> 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.

Blackstone Senior Floating Rate Term Fund's current Net Income (TTM) was 2.89. Blackstone Senior Floating Rate Term Fund's current Cash Flow from Operations (TTM) was 62.66. ==> 62.66 > 2.89 ==> 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: Dec20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec19 to Dec20
=100.005/359.552
=0.27813779

Gearing (Last Year: Dec19)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec18 to Dec19
=123.5/390.645
=0.31614381

Blackstone Senior Floating Rate Term Fund's gearing of this year was 0.27813779. Blackstone Senior Floating Rate Term Fund's gearing of last year was 0.31614381. ==> 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

* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.

Current Ratio (This Year: Dec20)=Total Assets/Total Liabilities
=332.374/117.121
=2.83786853

Current Ratio (Last Year: Dec19)=Total Assets/Total Liabilities
=386.73/135.882
=2.84607233

Blackstone Senior Floating Rate Term Fund's current ratio of this year was 2.83786853. Blackstone Senior Floating Rate Term Fund's current ratio of last year was 2.84607233. ==> 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.

Blackstone Senior Floating Rate Term Fund's number of shares in issue this year was 13.553. Blackstone Senior Floating Rate Term Fund's number of shares in issue last year was 15.235. ==> 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.

* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.

Net Margin (This Year: TTM)=Net Income/Revenue
=2.886/4.144
=0.69642857

Net Margin (Last Year: TTM)=Net Income/Revenue
=19.044/20.293
=0.93845168

Blackstone Senior Floating Rate Term Fund's net margin of this year was 0.69642857. Blackstone Senior Floating Rate Term Fund's net margin of last year was 0.93845168. ==> Last year's net 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 (Dec19)
=4.144/386.73
=0.01071549

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec18)
=20.293/394.56
=0.05143197

Blackstone Senior Floating Rate Term Fund's asset turnover of this year was 0.01071549. Blackstone Senior Floating Rate Term Fund's asset turnover of last year was 0.05143197. ==> 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+1+0+0
=5

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

Blackstone Senior Floating Rate Term Fund has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Blackstone Senior Floating Rate Term Fund  (NYSE:BSL) 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.


Blackstone Senior Floating Rate Term Fund Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Blackstone Senior Floating Rate Term Fund's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Blackstone Senior Floating Rate Term Fund Business Description

Blackstone Senior Floating Rate Term Fund logo
Industry
Financial Services » Asset Management NAICS : 523991 SIC : 6733
Traded in Other Exchanges
N/A
Address
345 Park Avenue, 31st Floor, New York, NY, USA, 10154
Blackstone Senior Floating Rate Term Fund is a diversified, closed-end management investment company. Its primary investment objective is to seek high current income, with a secondary objective to seek preservation of capital, consistent with its primary goal of high current income. The fund invests at least 80% of its Managed Assets in senior, secured floating rate loans. It also invests in second-lien loans and high yield bonds and employs financial leverage, which may increase the risk to the Fund.
Executives
Post Robert other: Portfolio Manager C/O GSO/BLACKSTONE DEBT FUNDS MGMT, LLC 345 PARK AVE 31ST FLOOR NEW YORK NY 10154
Busch Robert W officer: CFO & Treasurer 345 PARK AVENUE, 31ST FLOOR NEW YORK NY 10154
Zable Robert officer: Executive Vice President, other: Asst. Secretary & PM 1290 BROADWAY SUITE 1100 DENVER CO 80203
Mckemie Gordon other: Portfolio Manager C/O GSO CAPITAL PARTNERS LP 345 PARK AVENUE NEW YORK NY 10154
Smith Daniel Harlan Jr. officer: CEO, President, other: Trustee, Chairman 1290 BROADWAY SUITE 1100 DENVER CO 80203
Lee-silvestri Dohyun (doris) officer: Chief Financial Officer C/O GSO CAPITAL PARTNERS LP 345 PARK AVENUE NEW YORK NY 10154
Lee Jane officer: Public Relations Officer 1290 BROADWAY SUITE 1100 CO 80203
Beeney Marisa Janel officer: CCO, Chief Legal Counsel, Sec. 1290 BROADWAY, SUITE 1100 DENVER CO 80203
Schpero Gary S other: Trustee 1290 BROADWAY, SUITE 1100 DENVER CO 80203
Shaiman Lee Michael officer: Exec. VP, Assistant Secretary 1290 BROADWAY SUITE 1100 DENVER CO 80203
Metropolitan Life Insurance Co/ny 10 percent owner 200 PARK AVENUE NEW YORK NY 10166
Holland Michael F other: Trustee PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: HOLLAND MICHAEL F a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Rosenberg Eric officer: Chief Financial Officer C/O GSO CAPITAL PARTNERS LP 280 PARK AVENUE NEW YORK NY 10017
Dalelio Edward H other: Trustee 1000 BOARDWALK AT VIRGINIA AVENUE ATLANTIC CITY NJ 08401
Paolillo Douglas other: Mng. Dir.of Investment Advisor C/O GSO BLACKSTONE DEBT FUNDS MGMT LLC 280 PARK AVENUE NEW YORK NY 10017
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