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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
Jagged Peak Energy 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 Jagged Peak Energy's Piotroski F-Score or its related term are showing as below:
The historical data trend for Jagged Peak Energy'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.
Jagged Peak Energy Annual Data | |||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | ||||||
Piotroski F-Score | N/A | N/A | N/A | 5.00 | 7.00 |
Jagged Peak Energy Quarterly Data | |||||||||||||||||
Dec14 | Dec15 | Mar16 | Jun16 | Sep16 | Dec16 | Mar17 | Jun17 | Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | |
Piotroski F-Score | Get a 7-Day Free Trial | 6.00 | 7.00 | 7.00 | 5.00 | 4.00 |
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 (Sep19) TTM: | Last Year (Sep18) TTM: |
Net Income was 186.346 + -94.888 + 41.907 + 30.558 = $163.9 Mil. Cash Flow from Operations was 109.909 + 78.984 + 89.263 + 104.454 = $382.6 Mil. Revenue was 138.537 + 129.595 + 146.757 + 150.065 = $565.0 Mil. Gross Profit was 119.316 + 106.643 + 119.668 + 121.248 = $466.9 Mil. Average Total Assets from the begining of this year (Sep18) to the end of this year (Sep19) was (1645.385 + 1767.141 + 1789.336 + 1914.369 + 2006.745) / 5 = $1824.5952 Mil. Total Assets at the begining of this year (Sep18) was $1,645.4 Mil. Long-Term Debt & Capital Lease Obligation was $720.8 Mil. Total Current Assets was $123.8 Mil. Total Current Liabilities was $224.4 Mil. |
Net Income was 12.763 + -39.403 + 45.081 + -26.566 = $-8.1 Mil. Revenue was 104.422 + 129.053 + 158.676 + 155.378 = $547.5 Mil. Gross Profit was 90.008 + 111.659 + 138.944 + 134.677 = $475.3 Mil. Average Total Assets from the begining of last year (Sep17) to the end of last year (Sep18) was (946.276 + 1103.428 + 1291.93 + 1602.403 + 1645.385) / 5 = $1317.8844 Mil. Total Assets at the begining of last year (Sep17) was $946.3 Mil. Long-Term Debt & Capital Lease Obligation was $489.0 Mil. Total Current Assets was $195.3 Mil. Total Current Liabilities was $273.1 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.
Jagged Peak Energy's current Net Income (TTM) was 163.9.
==> 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.
Jagged Peak Energy's current Cash Flow from Operations (TTM) was 382.6.
==> 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 (Sep18) |
= | 163.923 | / | 1645.385 | |
= | 0.09962592 |
ROA (Last Year) | = | Net Income | / | Total Assets (Sep17) |
= | -8.125 | / | 946.276 | |
= | -0.00858629 |
Jagged Peak Energy's return on assets of this year was 0.09962592. Jagged Peak Energy's return on assets of last year was -0.00858629.
==> 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.
Jagged Peak Energy's current Net Income (TTM) was 163.9. Jagged Peak Energy's current Cash Flow from Operations (TTM) was 382.6.
==> 382.6 > 163.9 ==> 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: Sep19) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Sep18 to Sep19 |
= | 720.788 | / | 1824.5952 | |
= | 0.39503995 |
Gearing (Last Year: Sep18) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Sep17 to Sep18 |
= | 488.972 | / | 1317.8844 | |
= | 0.37102799 |
Jagged Peak Energy's gearing of this year was 0.39503995. Jagged Peak Energy's gearing of last year was 0.37102799.
==> 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: Sep19) | = | Total Current Assets | / | Total Current Liabilities |
= | 123.829 | / | 224.387 | |
= | 0.55185461 |
Current Ratio (Last Year: Sep18) | = | Total Current Assets | / | Total Current Liabilities |
= | 195.324 | / | 273.063 | |
= | 0.71530746 |
Jagged Peak Energy's current ratio of this year was 0.55185461. Jagged Peak Energy's current ratio of last year was 0.71530746.
==> 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.
Jagged Peak Energy's number of shares in issue this year was 213.7. Jagged Peak Energy's number of shares in issue last year was 213.18.
==> 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 |
= | 466.875 | / | 564.954 | |
= | 0.82639472 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 475.288 | / | 547.529 | |
= | 0.86805996 |
Jagged Peak Energy's gross margin of this year was 0.82639472. Jagged Peak Energy's gross margin of last year was 0.86805996.
==> 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 (Sep18) |
= | 564.954 | / | 1645.385 | |
= | 0.34335672 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Sep17) |
= | 547.529 | / | 946.276 | |
= | 0.57861448 |
Jagged Peak Energy's asset turnover of this year was 0.34335672. Jagged Peak Energy's asset turnover of last year was 0.57861448.
==> 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 | + | 1 | + | 0 | + | 0 | + | 0 | + | 0 | + | 0 | |
= | 4 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Jagged Peak Energy has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Jagged Peak Energy (NYSE:JAG) 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 Jagged Peak Energy's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Adrianna Ma | director | 10375 RICHMOND AVENUE, SUITE 1910, HOUSTON TX 77042 |
John R Sult | director | 1001 LOUISIANA STREET, HOUSTON TX 77002 |
Roger L Jarvis | director | SPINNAKER EXPLORATION CO, 1200 SMITH ST STE 800, HOUSTON TX 77002 |
Charles D Davidson | director | QUANTUM ENERGY PARTNERS, 1401 MCKINNEY STREET, SUITE 2700, HOUSTON TX 77010 |
Vanloh S Wil Jr | director, 10 percent owner | 1401 MCKINNEY STREET, SUITE 2700, HOUSTON TX 77010 |
Qem V Llc | director, 10 percent owner, other: See Remarks | 1401 MCKINNEY STREET, SUITE 2700, HOUSTON TX 77010 |
Janeen S Judah | director | 10713 WEST SAM HOUSTON PARKWAY N, SUITE 800, HOUSTON TX 77064 |
Christopher I Humber | officer: EVP, GC & Secretary | 9200 E. MINERAL AVE, SUITE 200, CENTENNIAL CO 80112 |
Michael C Linn | director | 650 WASHINGTON ROAD, 8TH FLOOR, PITTSBURGH PA 15228 |
James J. Kleckner | director, officer: CEO, President | 1201 LAKE ROBBINS DRIVE THE WOODLANDS TX 77380 |
Q-jagged Peak Energy Investment Partners, Llc | director, 10 percent owner, other: See Remarks | 1401 MCKINNEY STREET, SUITE 2700 HOUSTON TX 77010 |
Joseph N Jaggers | director, officer: Chairman, CEO & President | |
Stratton J. Jay Jr. | officer: EVP, Chief Operating Officer | C/O ULTRA PETROLEUM CORP. 116 EAST INVERNESS DRIVE, SUITE 400 ENGLEWOOD CO 80112 |
Gregory S. Hinds | officer: See Remarks | 1875 LAWRENCE STREET, SUITE 200, DENVER CO 80202 |
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