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CoreLogic Piotroski F-Score

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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

CoreLogic has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for CoreLogic's Piotroski F-Score or its related term are showing as below:


CoreLogic Piotroski F-Score Historical Data

The historical data trend for CoreLogic'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.

CoreLogic Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 7.00 5.00 7.00 8.00

CoreLogic Quarterly Data
Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21
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 8.00 8.00 8.00 8.00 8.00

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 (Mar21) TTM:Last Year (Mar20) TTM:
Net Income was 59.005 + 113.146 + 95.386 + 53.562 = $321 Mil.
Cash Flow from Operations was 130.274 + 175.964 + 116.67 + 189.293 = $612 Mil.
Revenue was 477.464 + 436.727 + 467.642 + 422.785 = $1,805 Mil.
Gross Profit was 262.973 + 282.535 + 309.652 + 260.226 = $1,115 Mil.
Average Total Assets from the begining of this year (Mar20)
to the end of this year (Mar21) was
(4147.607 + 4163.391 + 4393.47 + 4283.222 + 4328.423) / 5 = $4263.2226 Mil.
Total Assets at the begining of this year (Mar20) was $4,148 Mil.
Long-Term Debt & Capital Lease Obligation was $1,861 Mil.
Total Current Assets was $780 Mil.
Total Current Liabilities was $824 Mil.
Net Income was -5.572 + 23.183 + 30.082 + 33.819 = $82 Mil.

Revenue was 459.538 + 375.571 + 352.841 + 352.92 = $1,541 Mil.
Gross Profit was 232.328 + 210.856 + 207.697 + 208.395 = $859 Mil.
Average Total Assets from the begining of last year (Mar19)
to the end of last year (Mar20) was
(4213.996 + 4150.512 + 4138.455 + 4159.281 + 4147.607) / 5 = $4161.9702 Mil.
Total Assets at the begining of last year (Mar19) was $4,214 Mil.
Long-Term Debt & Capital Lease Obligation was $1,670 Mil.
Total Current Assets was $493 Mil.
Total Current Liabilities was $677 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.

CoreLogic's current Net Income (TTM) was 321. ==> 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.

CoreLogic's current Cash Flow from Operations (TTM) was 612. ==> 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 (Mar20)
=321.099/4147.607
=0.07741789

ROA (Last Year)=Net Income/Total Assets (Mar19)
=81.512/4213.996
=0.01934316

CoreLogic's return on assets of this year was 0.07741789. CoreLogic's return on assets of last year was 0.01934316. ==> 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.

CoreLogic's current Net Income (TTM) was 321. CoreLogic's current Cash Flow from Operations (TTM) was 612. ==> 612 > 321 ==> 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: Mar21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar20 to Mar21
=1861.165/4263.2226
=0.43656294

Gearing (Last Year: Mar20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar19 to Mar20
=1669.808/4161.9702
=0.40120614

CoreLogic's gearing of this year was 0.43656294. CoreLogic's gearing of last year was 0.40120614. ==> 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: Mar21)=Total Current Assets/Total Current Liabilities
=780.48/824.096
=0.94707413

Current Ratio (Last Year: Mar20)=Total Current Assets/Total Current Liabilities
=492.803/676.974
=0.72794967

CoreLogic's current ratio of this year was 0.94707413. CoreLogic's current ratio of last year was 0.72794967. ==> 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.

CoreLogic's number of shares in issue this year was 75.135. CoreLogic's number of shares in issue last year was 80.525. ==> 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
=1115.386/1804.618
=0.61807319

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=859.276/1540.87
=0.55765639

CoreLogic's gross margin of this year was 0.61807319. CoreLogic's gross margin of last year was 0.55765639. ==> 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 (Mar20)
=1804.618/4147.607
=0.4350986

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar19)
=1540.87/4213.996
=0.36565531

CoreLogic's asset turnover of this year was 0.4350986. CoreLogic's asset turnover of last year was 0.36565531. ==> This year's asset turnover is higher. ==> Score 1.

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+1+0+1+1+1+1
=8

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

CoreLogic has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

CoreLogic  (NYSE:CLGX) 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.


CoreLogic Piotroski F-Score Related Terms

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CoreLogic Business Description

CoreLogic logo
Traded in Other Exchanges
N/A
Address
40 Pacifica, Suite 900, Irvine, CA, USA, 92618
CoreLogic Inc is a provider of data and analytics for the real estate sector. It operates in two segments: Property Intelligence & Risk Management Solutions and Underwriting & Workflow Solutions. The company offers a national database of property and mortgage information, judgments and liens, building and replacement costs, parcel and geospatial data, criminal background records, eviction information, nonprime lending records, credit information, and tax information. The database includes historical property transactions and mortgage applications and covers nearly all U.S. residential and commercial properties. Corelogic also provides analytics services and tools built around its database for use of property valuation and credit and risk management.
Executives
Dodd Patrick L officer: Chief Operating & Growth Off. 40 PACIFICA SUITE 900 SUITE 900 IRVINE CA 92618
Henry Francis Aaron officer: CLO & Corporate Secretary 2828 NORTH HARWOOD STREET 15TH FLOOR DALLAS TX 75201
Chatham J David director 5780 WINDWARD PARKWAY SUITE 300 ALPHARETTA GA 30005
Obrien Thomas C director 850 E ALGONQUIN RD STE 100 SCHAUMGURG IL 60173
Dorman John C director C/O LOANDEPOT, INC. ATTN GENERAL COUNSEL 26642 TOWNE CENTRE DRIVE FOOTHILL RANCH CA 90402
Curling Douglas C director 1000 ALDERMAN DRIVE ALPHARETTA GA 30005
Stumpf John K officer: Executive, Controller & CAO
Sando Barry M officer: Managing Director 4 FIRST AMERICAN WAY SANTA ANA CA 92708
Balas James L officer: Chief Financial Officer CORELOGIC, INC. 40 PACIFICA, SUITE 900 IRVINE CA 92618
Raina Vikrant director CORELOGIC, INC. 40 PACIFICA, SUITE 900 IRVINE CA 92618
Folino Paul F director ONE ENTERPRISE ALISO VIEJO CA 92656
Martell Frank director, officer: President & CEO 10 GASTON FARMS ROAD GREENWICH CT 06831
Patenaude Pamela H. director 26642 TOWNE CENTRE DRIVE C/O LOANDEPOT, INC. FOOTHILL RANCH CA 92610
Shepherd Michael director 567 HALE STREET PALO ALTO CA 94301
Studenmund Jaynie M director 506 SECOND AVENUE, 9TH FLOOR SEATTLE WA 98104

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