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Beazer Homes USA 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

Beazer Homes USA 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 Beazer Homes USA's Piotroski F-Score or its related term are showing as below:

NYSE:BZH' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 7
Current: 5

1
7

During the past 13 years, the highest Piotroski F-Score of Beazer Homes USA was 7. The lowest was 1. And the median was 5.


Beazer Homes USA Piotroski F-Score Historical Data

The historical data trend for Beazer Homes USA'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.

Beazer Homes USA Annual Data
Trend Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 6.00 6.00 7.00 5.00

Beazer Homes USA Quarterly Data
Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
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 7.00 9.00 6.00 8.00 5.00

Competitive Comparison

For the Residential Construction subindustry, Beazer Homes USA'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.

   

Beazer Homes USA Piotroski F-Score Distribution

For the Homebuilding & Construction industry and Consumer Cyclical sector, Beazer Homes USA's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Beazer Homes USA'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 (Sep21) TTM:Last Year (Sep20) TTM:
Net Income was 11.997 + 24.528 + 37.135 + 48.361 = $122 Mil.
Cash Flow from Operations was -74.578 + 124.717 + 28.403 + -46.886 = $32 Mil.
Revenue was 428.539 + 549.889 + 570.932 + 590.943 = $2,140 Mil.
Gross Profit was 75.293 + 97.926 + 115.523 + 115.513 = $404 Mil.
Average Total Assets from the begining of this year (Sep20)
to the end of this year (Sep21) was
(2007.48 + 1984.474 + 2055.571 + 2092.629 + 2078.81) / 5 = $2043.7928 Mil.
Total Assets at the begining of this year (Sep20) was $2,007 Mil.
Long-Term Debt & Capital Lease Obligation was $1,068 Mil.
Total Current Assets was $1,811 Mil.
Total Current Liabilities was $206 Mil.
Net Income was 2.746 + 10.614 + 15.188 + 23.678 = $52 Mil.

Revenue was 417.804 + 489.413 + 533.112 + 686.748 = $2,127 Mil.
Gross Profit was 63.137 + 78.845 + 89.058 + 116.6 = $348 Mil.
Average Total Assets from the begining of last year (Sep19)
to the end of last year (Sep20) was
(1957.644 + 1968.104 + 2238.995 + 2002.163 + 2007.48) / 5 = $2034.8772 Mil.
Total Assets at the begining of last year (Sep19) was $1,958 Mil.
Long-Term Debt & Capital Lease Obligation was $1,146 Mil.
Total Current Assets was $1,722 Mil.
Total Current Liabilities was $194 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.

Beazer Homes USA's current Net Income (TTM) was 122. ==> 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.

Beazer Homes USA's current Cash Flow from Operations (TTM) was 32. ==> 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 (Sep20)
=122.021/2007.48
=0.06078317

ROA (Last Year)=Net Income/Total Assets (Sep19)
=52.226/1957.644
=0.02667799

Beazer Homes USA's return on assets of this year was 0.06078317. Beazer Homes USA's return on assets of last year was 0.02667799. ==> 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.

Beazer Homes USA's current Net Income (TTM) was 122. Beazer Homes USA's current Cash Flow from Operations (TTM) was 32. ==> 32 <= 122 ==> 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: Sep21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep20 to Sep21
=1068.184/2043.7928
=0.52264789

Gearing (Last Year: Sep20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep19 to Sep20
=1146.134/2034.8772
=0.5632448

Beazer Homes USA's gearing of this year was 0.52264789. Beazer Homes USA's gearing of last year was 0.5632448. ==> 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: Sep21)=Total Current Assets/Total Current Liabilities
=1811.359/206.008
=8.79266339

Current Ratio (Last Year: Sep20)=Total Current Assets/Total Current Liabilities
=1722.335/193.616
=8.8956233

Beazer Homes USA's current ratio of this year was 8.79266339. Beazer Homes USA's current ratio of last year was 8.8956233. ==> 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.

Beazer Homes USA's number of shares in issue this year was 30.872. Beazer Homes USA's number of shares in issue last year was 29.75. ==> 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
=404.255/2140.303
=0.18887746

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=347.64/2127.077
=0.16343555

Beazer Homes USA's gross margin of this year was 0.18887746. Beazer Homes USA's gross margin of last year was 0.16343555. ==> 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 (Sep20)
=2140.303/2007.48
=1.06616405

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep19)
=2127.077/1957.644
=1.08654944

Beazer Homes USA's asset turnover of this year was 1.06616405. Beazer Homes USA's asset turnover of last year was 1.08654944. ==> 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+1+0+0+1+0
=5

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

Beazer Homes USA has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Beazer Homes USA  (NYSE:BZH) 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.


Beazer Homes USA Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Beazer Homes USA's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Beazer Homes USA Business Description

Beazer Homes USA logo
Industry
Traded in Other Exchanges
Address
1000 Abernathy Road, Suite 260, Atlanta, GA, USA, 30328
Beazer Homes USA Inc is an American construction company that focuses on residential construction. The company specializes in single-family housing and multi-unit building construction in over 13 states and over 22 metro markets. Beazer Homes builds homes and communities that target first-time, move-up, and luxury homebuyers with an average selling price of roughly $300,000. From a geographic perspective, home sales in the western and eastern United States have been the leading sources of revenue for the company. Key metro areas include Atlanta, Las Vegas, Los Angeles, Orlando, and Tampa. The company also focuses on land purchasing and development to support future construction efforts as well as mortgage services for its homebuyers.
Executives
Salomon Robert L. officer: EVP, Chief Financial Officer 5535 LEXINGTON WOODS LANE ALPHARETTA GA 30005
Zelnak Stephen P Jr director MARTIN MARIETTA MATERIALS INC 2710 WYCLIFF ROAD RALEIGH NC 27607
Acton Elizabeth S director 5408 WALDENHILL COURT SUPERIOR TOWNSHIP MI 48198
Orser Peter M director 1000 ABERNATHY ROAD SUITE 260 ATLANTA GA 30328
Shepherd Danny R director VULCAN MATERIALS COMPANY 1200 URBAN CENTER DRIVE BIRMINGHAM AL 35242
Spitz David J director C/O CHANNELADVISOR CORPORATION 2701 AERIAL CENTER PARKWAY MORRISVILLE NC 27568
Belknap Keith L Jr officer: EVP, General Counsel 3585 ENGINEERING DRIVE SUITE 100 NORCROSS GA 30092
Provencio Norma Ann director 2150 ST. ELZEAR BLVD. WEST LAVAL A8 H7L 4A8
Merrill Allan P director, officer: Chairman, President and CEO BEAZER HOMES 1000 ABERNATHY RD, SUITE 1200 ATLANTA GA 30328
Winkle C Christian director ONE RAVINIA DRIVE STE 1500 ATLANTA GA 30346
Alpert Laurent director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: ALPERT LAURENT 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;}
Beazer Brian C director C/O NUMEREX 1600 PARKWOOD CIRCLE #200 ATLANTA GA 30339-2119
Leemputte Peter G director CHICAGO TITLE CORP 171 N CLARK ST CHICAGO IL 80601
Khoury Kenneth F officer: Administration BEAZER HOMES 1000 ABERNATHY RD, SUITE 1200 ATLANTA GA 30328
Solari Larry T director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: SOLARI LARRY T 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;}

Beazer Homes USA Headlines

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