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Summit Hotel Properties (Summit Hotel Properties) Piotroski F-Score : 4 (As of Apr. 25, 2024)


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What is Summit Hotel Properties Piotroski F-Score?

The zones of discrimination were as such:

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

Summit Hotel Properties has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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

INN' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 4   Max: 7
Current: 4

During the past 13 years, the highest Piotroski F-Score of Summit Hotel Properties was 7. The lowest was 2. And the median was 4.


Summit Hotel Properties Piotroski F-Score Historical Data

The historical data trend for Summit Hotel Properties'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.

Summit Hotel Properties Piotroski F-Score Chart

Summit Hotel Properties Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 2.00 6.00 7.00 4.00

Summit Hotel Properties Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Piotroski F-Score Get a 7-Day Free Trial 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 7.00 7.00 4.00 4.00

Competitive Comparison of Summit Hotel Properties's Piotroski F-Score

For the REIT - Hotel & Motel subindustry, Summit Hotel Properties'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.


Summit Hotel Properties's Piotroski F-Score Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Summit Hotel Properties's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Summit Hotel Properties'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 -0.601 + 3.872 + -0.814 + -11.946 = $-9.5 Mil.
Cash Flow from Operations was 32.006 + 47.048 + 44.113 + 30.474 = $153.6 Mil.
Revenue was 182.383 + 194.493 + 181.816 + 177.435 = $736.1 Mil.
Gross Profit was 67.67 + 75.621 + 66.427 + 66.756 = $276.5 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(3022.27 + 3028.257 + 3033.687 + 3015.189 + 2939.248) / 5 = $3007.7302 Mil.
Total Assets at the begining of this year (Dec22) was $3,022.3 Mil.
Long-Term Debt & Capital Lease Obligation was $1,256.5 Mil.
Total Current Assets was $151.5 Mil.
Total Current Liabilities was $286.0 Mil.
Net Income was -7.854 + 12.565 + 4.107 + -7.352 = $1.5 Mil.

Revenue was 141.869 + 183.248 + 178.252 + 172.326 = $675.7 Mil.
Gross Profit was 49.93 + 74.216 + 65.411 + 66.346 = $255.9 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(2264.902 + 3106.599 + 3124.677 + 3075.881 + 3022.27) / 5 = $2918.8658 Mil.
Total Assets at the begining of last year (Dec21) was $2,264.9 Mil.
Long-Term Debt & Capital Lease Obligation was $1,262.3 Mil.
Total Current Assets was $120.0 Mil.
Total Current Liabilities was $301.8 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.

Summit Hotel Properties's current Net Income (TTM) was -9.5. ==> Negative ==> Score 0.

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.

Summit Hotel Properties's current Cash Flow from Operations (TTM) was 153.6. ==> 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)
=-9.489/3022.27
=-0.00313969

ROA (Last Year)=Net Income/Total Assets (Dec21)
=1.466/2264.902
=0.00064727

Summit Hotel Properties's return on assets of this year was -0.00313969. Summit Hotel Properties's return on assets of last year was 0.00064727. ==> 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.

Summit Hotel Properties's current Net Income (TTM) was -9.5. Summit Hotel Properties's current Cash Flow from Operations (TTM) was 153.6. ==> 153.6 > -9.5 ==> 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
=1256.51/3007.7302
=0.41776021

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=1262.28/2918.8658
=0.43245565

Summit Hotel Properties's gearing of this year was 0.41776021. Summit Hotel Properties's gearing of last year was 0.43245565. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=151.522/286.042
=0.52971941

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=120.033/301.821
=0.39769599

Summit Hotel Properties's current ratio of this year was 0.52971941. Summit Hotel Properties's current ratio of last year was 0.39769599. ==> 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.

Summit Hotel Properties's number of shares in issue this year was 105.662. Summit Hotel Properties's number of shares in issue last year was 105.238. ==> 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
=276.474/736.127
=0.37557921

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=255.903/675.695
=0.37872561

Summit Hotel Properties's gross margin of this year was 0.37557921. Summit Hotel Properties's gross margin of last year was 0.37872561. ==> 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 (Dec22)
=736.127/3022.27
=0.24356758

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=675.695/2264.902
=0.298333

Summit Hotel Properties's asset turnover of this year was 0.24356758. Summit Hotel Properties's asset turnover of last year was 0.298333. ==> 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
=0+1+0+1+1+1+0+0+0
=4

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

Summit Hotel Properties has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Summit Hotel Properties  (NYSE:INN) 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.


Summit Hotel Properties Piotroski F-Score Related Terms

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Summit Hotel Properties (Summit Hotel Properties) Business Description

Traded in Other Exchanges
Address
13215 Bee Cave Parkway, Suite B-300, Austin, TX, USA, 78738
Summit Hotel Properties Inc is a U.S.-based hotel investment company focusing on select-service hotels in the upscale and upper-midscale properties in the U.S. Substantially all of Summit's assets are held and operated by its Operating Partnership, Summit Hotel OP, LP, in which the company holds general and limited partnership interests. The firm has one segment in activities related to investing in real estate. Summit's revenue streams include Room and Other hotel operations revenue. Room comprises the majority of total revenues. The firm's hotels are located in various markets, such as corporate offices, retail centers, airports, state capitols, convention centers, and leisure attractions. Summit's hotels operate under brands, including Marriott, Hilton, Hyatt, and Holiday Inn.
Executives
Hope S Taitz director C/O ATHENE HOLDING LTD., WASHINGTON HOUSE, 16 CHURCH STREET, HAMILTON D0 HM 11
Jonathan P Stanner officer: EVP & Chief Financial Officer 12600 HILL COUNTRY BLVD, SUITE R-100, AUSTIN TX 78738
Mehulkumar Bhikhubhai Patel director 2117 KIMBALL HILL CT, SOUTHLAKE TX 76092
Newcrestimage Holdings, Llc 10 percent owner 1785 STATE HIGHWAY 26, SUITE 400, GRAPEVINE TX 76051
Bright Force Investment, Llc 10 percent owner /C/O NEWCRESTIMAGE HOLDINGS, LLC, 1785 STATE HIGHWAY 26, SUITE 400, GRAPEVINE TX 76051
Daniel P Hansen director, officer: President and CEO 4808 FLORENCE ST, BELLAIRE TX 77401
Craig J Aniszewski officer: EVP and COO 119 STORMY POINTE LN, MOORESVILLE NC 28117
William Higgins Conkling officer: EVP & Chief Financial Officer 13215 BEE CAVE PARKWAY, SUITE B-300, AUSTIN TX 78738
Amina Belouizdad director 13215 BEE CAVE PARKWAY, SUITE B-300, AUSTIN TX 78783
Paul Ruiz officer: SVP & Chief Accounting Officer 3200 WILCREST DRIVE SUITE 370, HOUSTON TX 77042
Jeffrey W Jones director P O BOX 7, VAIL CO 81658
Kenneth J Kay director 3355 LAS VEGAS BOULEVARD SOUTH, LAS VEGAS NV 89109
Greg A Dowell officer: Executive VP & CFO 805 LAS CIMAS PARKWAY, SUITE 400, AUSTIN TX 78746
Thomas W. Storey director 2701 S. MINNESOTA AVENUE, SUITE 6, SIOUX FALLS SD 57105
Wayne Wielgus director 10750 COLUMBIA PIKE, SILVER SPRING MD 20901