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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
Ethan Allen Interiors 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 Ethan Allen Interiors's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Ethan Allen Interiors was 9. The lowest was 4. And the median was 6.
The historical data trend for Ethan Allen Interiors'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.
For the Furnishings, Fixtures & Appliances subindustry, Ethan Allen Interiors'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.
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Ethan Allen Interiors's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Ethan Allen Interiors'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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Net Income was 22.356 + 25.405 + 14.939 + 17.411 = $80.1 Mil. Cash Flow from Operations was 33.419 + 26.306 + 16.7 + 13.59 = $90.0 Mil. Revenue was 186.316 + 187.375 + 163.892 + 167.276 = $704.9 Mil. Gross Profit was 111.551 + 115.183 + 100.141 + 100.636 = $427.5 Mil. Average Total Assets from the begining of this year (Dec22) to the end of this year (Dec23) was (713.981 + 741.323 + 745.453 + 739.563 + 722.175) / 5 = $732.499 Mil. Total Assets at the begining of this year (Dec22) was $714.0 Mil. Long-Term Debt & Capital Lease Obligation was $101.3 Mil. Total Current Assets was $326.0 Mil. Total Current Liabilities was $140.9 Mil. |
Net Income was 24.714 + 31.519 + 29.88 + 28.166 = $114.3 Mil. Revenue was 197.659 + 229.683 + 214.53 + 203.161 = $845.0 Mil. Gross Profit was 119.46 + 133.785 + 129.616 + 124.02 = $506.9 Mil. Average Total Assets from the begining of last year (Dec21) to the end of last year (Dec22) was (689.328 + 714.903 + 719.895 + 721.849 + 713.981) / 5 = $711.9912 Mil. Total Assets at the begining of last year (Dec21) was $689.3 Mil. Long-Term Debt & Capital Lease Obligation was $93.7 Mil. Total Current Assets was $338.4 Mil. Total Current Liabilities was $175.7 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.
Ethan Allen Interiors's current Net Income (TTM) was 80.1.
==> 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.
Ethan Allen Interiors's current Cash Flow from Operations (TTM) was 90.0.
==> 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 (Dec22) |
= | 80.111 | / | 713.981 | |
= | 0.11220327 |
ROA (Last Year) | = | Net Income | / | Total Assets (Dec21) |
= | 114.279 | / | 689.328 | |
= | 0.1657832 |
Ethan Allen Interiors's return on assets of this year was 0.11220327. Ethan Allen Interiors's return on assets of last year was 0.1657832.
==> 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.
Ethan Allen Interiors's current Net Income (TTM) was 80.1. Ethan Allen Interiors's current Cash Flow from Operations (TTM) was 90.0.
==> 90.0 > 80.1 ==> 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: Dec23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec22 to Dec23 |
= | 101.314 | / | 732.499 | |
= | 0.13831282 |
Gearing (Last Year: Dec22) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec21 to Dec22 |
= | 93.706 | / | 711.9912 | |
= | 0.13161118 |
Ethan Allen Interiors's gearing of this year was 0.13831282. Ethan Allen Interiors's gearing of last year was 0.13161118.
==> 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: Dec23) | = | Total Current Assets | / | Total Current Liabilities |
= | 325.959 | / | 140.93 | |
= | 2.31291421 |
Current Ratio (Last Year: Dec22) | = | Total Current Assets | / | Total Current Liabilities |
= | 338.406 | / | 175.715 | |
= | 1.92587998 |
Ethan Allen Interiors's current ratio of this year was 2.31291421. Ethan Allen Interiors's current ratio of last year was 1.92587998.
==> 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.
Ethan Allen Interiors's number of shares in issue this year was 25.63. Ethan Allen Interiors's number of shares in issue last year was 25.582.
==> 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 |
= | 427.511 | / | 704.859 | |
= | 0.60651989 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 506.881 | / | 845.033 | |
= | 0.59983575 |
Ethan Allen Interiors's gross margin of this year was 0.60651989. Ethan Allen Interiors's gross margin of last year was 0.59983575.
==> 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 (Dec22) |
= | 704.859 | / | 713.981 | |
= | 0.98722375 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Dec21) |
= | 845.033 | / | 689.328 | |
= | 1.22587941 |
Ethan Allen Interiors's asset turnover of this year was 0.98722375. Ethan Allen Interiors's asset turnover of last year was 1.22587941.
==> 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 | + | 0 | + | 1 | + | 0 | + | 1 | + | 0 | |
= | 5 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Ethan Allen Interiors has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Ethan Allen Interiors (NYSE:ETD) 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 Ethan Allen Interiors's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Rebecca L Thompson | officer: SVP, Merchandising | 25 LAKE AVENUE EXT., DANBURY CT 06811 |
Ashley Fothergill | officer: SVP, Merchandising | 25 LAKE AVENUE EXT., DANBURY CT 06811 |
Casar Perez Maria Eugenia | director | 25 LAKE AVENUE EXT., DANBURY CT 06811 |
David M. Sable | director | 77 HOT METAL STREET, PITTSBURGH PA 15203-2329 |
Cynthia Ekberg Tsai | director | 800 FIFTH AVENUE, NEW YORK NY 10021 |
John Bernard Clark | director | 25 LAKE AVENUE EXT., DANBURY CT 06811 |
James B. Carlson | director | ETHAN ALLEN DRIVE, DANBURY CT 06811 |
Daniel M. Grow | officer: VP, Business Development | ETHAN ALLEN DRIVE, DANBURY CT 06811 |
Whitely Corey | officer: Executive VP Operations | C/O ETHAN ALLEN INTERIORS INC, ETHAN ALLEN DRIVE, DANBURY CT 06811 |
M Farooq Kathwari | director, 10 percent owner, officer: Chairman, President & CEO | C/O ETHAN ALLEN INTERIORS INC, ETHAN ALLEN DRIVE, DANBURY CT 06811 |
Rodney A. Hutton | officer: Chief Marketing Officer | 25 LAKE AVENUE EXT., DANBURY CT 06811-5286 |
Matthew J Mcnulty | officer: VP, Corporate Controller | 601 MERRITT 7, NORWALK CT 06851 |
Domenick J. Esposito | director | ETHAN ALLEN DRIVE, DANBURY CT 06811 |
Bedford John S Ii | officer: VP, Corporate Controller | ETHAN ALLEN DRIVE, DANBURY CT 06811 |
Mary Garrett | director | ETHAN ALLEN DRIVE, DANBURY CT 06811 |
From GuruFocus
By sperokesalga 06-01-2023
By Stock market mentor 01-04-2023
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