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Energy Transfer LP Piotroski F-Score

: 6 (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

Energy Transfer LP has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

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

ET' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 6

During the past 13 years, the highest Piotroski F-Score of Energy Transfer LP was 8. The lowest was 3. And the median was 6.


Energy Transfer LP Piotroski F-Score Historical Data

The historical data trend for Energy Transfer LP'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.

Energy Transfer LP Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 7.00 6.00 5.00 6.00

Energy Transfer LP Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
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 6.00 6.00 6.00 -

Competitive Comparison

For the Oil & Gas Midstream subindustry, Energy Transfer LP'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.

   

Energy Transfer LP Piotroski F-Score Distribution

For the Oil & Gas industry and Energy sector, Energy Transfer LP's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Energy Transfer LP'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 (Jun22) TTM:Last Year (Jun21) TTM:
Net Income was 635 + 921 + 1269 + 1326 = $4,151 Mil.
Cash Flow from Operations was 2263 + 1739 + 2370 + 2354 = $8,726 Mil.
Revenue was 16664 + 18657 + 20491 + 25945 = $81,757 Mil.
Gross Profit was 2533 + 2923 + 3325 + 3384 = $12,165 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(96242 + 96698 + 105963 + 109192 + 108769) / 5 = $103372.8 Mil.
Total Assets at the begining of this year (Jun21) was $96,242 Mil.
Long-Term Debt & Capital Lease Obligation was $48,905 Mil.
Total Current Assets was $15,434 Mil.
Total Current Liabilities was $13,475 Mil.
Net Income was -655 + 509 + 3288 + 626 = $3,768 Mil.

Revenue was 9955 + 10034 + 16995 + 15101 = $52,085 Mil.
Gross Profit was 2667 + 2368 + 5093 + 2656 = $12,784 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(95907 + 95195 + 95144 + 96218 + 96242) / 5 = $95741.2 Mil.
Total Assets at the begining of last year (Jun20) was $95,907 Mil.
Long-Term Debt & Capital Lease Obligation was $46,424 Mil.
Total Current Assets was $8,208 Mil.
Total Current Liabilities was $8,547 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.

Energy Transfer LP's current Net Income (TTM) was 4,151. ==> 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.

Energy Transfer LP's current Cash Flow from Operations (TTM) was 8,726. ==> 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 (Jun21)
=4151/96242
=0.04313086

ROA (Last Year)=Net Income/Total Assets (Jun20)
=3768/95907
=0.03928806

Energy Transfer LP's return on assets of this year was 0.04313086. Energy Transfer LP's return on assets of last year was 0.03928806. ==> 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.

Energy Transfer LP's current Net Income (TTM) was 4,151. Energy Transfer LP's current Cash Flow from Operations (TTM) was 8,726. ==> 8,726 > 4,151 ==> 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: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=48905/103372.8
=0.4730935

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=46424/95741.2
=0.48489052

Energy Transfer LP's gearing of this year was 0.4730935. Energy Transfer LP's gearing of last year was 0.48489052. ==> 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: Jun22)=Total Current Assets/Total Current Liabilities
=15434/13475
=1.14538033

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=8208/8547
=0.96033696

Energy Transfer LP's current ratio of this year was 1.14538033. Energy Transfer LP's current ratio of last year was 0.96033696. ==> 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.

Energy Transfer LP's number of shares in issue this year was 3105.7. Energy Transfer LP's number of shares in issue last year was 2717.8. ==> 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
=12165/81757
=0.1487946

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=12784/52085
=0.24544495

Energy Transfer LP's gross margin of this year was 0.1487946. Energy Transfer LP's gross margin of last year was 0.24544495. ==> 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 (Jun21)
=81757/96242
=0.84949398

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=52085/95907
=0.54307819

Energy Transfer LP's asset turnover of this year was 0.84949398. Energy Transfer LP's asset turnover of last year was 0.54307819. ==> 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+1+1+0+0+1
=7

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

Energy Transfer LP has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Energy Transfer LP  (NYSE:ET) 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.


Energy Transfer LP Piotroski F-Score Related Terms

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


Energy Transfer LP Business Description

Energy Transfer LP logo
Traded in Other Exchanges
Address
8111 Westchester Drive, Suite 600, Dallas, TX, USA, 75225
Energy Transfer owns a large platform of crude oil, natural gas, and natural gas liquid assets primarily in Texas and the U.S. midcontinent region. It also has gathering and processing facilities, one of the largest fractionation facilities in the U.S., and fuel distribution. Energy Transfer also owns the Lake Charles gas liquefaction facility. It combined its publicly traded limited and general partnerships in October 2018.
Executives
Whitehurst Bradford D. officer: CFO 100 CONGRESS AVENUE SUITE 450 AUSTIN TX 78701
Perry James Richard director 1108 LAVACA, SUITE 110 #143 AUSTIN TX 78701
Washburne Ray W director 47 HIGHLAND PARK VILLAGE SUITE 200 DALLAS TX 75205
Sturrock Troy officer: SVP & Controller 1039 NORTH OAK CLIFF BOULEVARD DALLAS TX 75208
Grimm Michael K director 3141 HOOD STREET, SUITE 350 DALLAS TX 75219
Anderson Steven R. director 1818 MARKET STREET SUITE 1500 PHILADELPHIA PA 19103
Brannon Richard D director C/O CH4 ENERGY SIX, LLC 5128 APACHE PLUME ROAD, SUITE 300 FORT WORTH TX 76109
Mcreynolds John W director, officer: President 1601 BRYAN ST 30TH FL DALLAS TX 75201
Warren Kelcy L director, 10 percent owner
Mccrea Marshall S Iii director, officer: See Remarks
Ramsey Matthew S. director 6002 DEERWOOD HOUSTON TX 77057
Long Thomas E officer: Chief Financial Officer 370 17TH STREET SUITE 2775 DENVER CO 80202
Mason Thomas P officer: EVP and General Counsel 3738 OAK LAWN AVE DALLAS TX 75219
Collins Ted Jr director 508 W. WALL AVE. SUITE 1200 MIDLAND TX 79701-5076
Williams William Presley director 2126 CLEAR LAKE ROAD WEATHERFORD TX 76087

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