Switch to:

Kirkland Lake Gold Piotroski F-Score

: 7 (As of Today)
View and export this data going back to 2010. Start your Free Trial

Good Sign:

Piotroski F-Score is 7, indicating very healthy situation.

The zones of discrimination were as such:

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

Kirkland Lake Gold has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

NYSE:KL' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 9
Current: 7

2
9

During the past 13 years, the highest Piotroski F-Score of Kirkland Lake Gold was 9. The lowest was 2. And the median was 6.


Kirkland Lake Gold Piotroski F-Score Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Kirkland Lake Gold Annual Data
Apr10 Apr11 Apr12 Apr13 Apr14 Apr15 Dec16 Dec17 Dec18 Dec19
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.00 7.00 6.00 7.00 8.00

Kirkland Lake Gold Quarterly Data
Apr15 Jul15 Oct15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20
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 9.00 8.00 7.00

Competitive Comparison
* 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.


Kirkland Lake Gold Piotroski F-Score Distribution

* The bar in red indicates where Kirkland Lake Gold's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

This Year (Mar20) TTM:Last Year (Mar19) TTM:
Net Income was 104.195 + 176.604 + 169.135 + 202.878 = USD 653 Mil.
Cash Flow from Operations was 178.378 + 316.753 + 247.1 + 241.506 = USD 984 Mil.
Revenue was 281.267 + 381.43 + 412.379 + 554.738 = USD 1,630 Mil.
Gross Profit was 175.326 + 255.644 + 277.343 + 279.058 = USD 987 Mil.
Average Total Assets from the begining of this year (Mar19)
to the end of this year (Mar20) was
(1885.515 + 2019.498 + 2240.237 + 2557.617 + 5949.68) / 5 = USD 2930.5094 Mil.
Total Assets at the begining of this year (Mar19) was USD 1,886 Mil.
Long-Term Debt & Capital Lease Obligation was USD 16 Mil.
Total Current Assets was USD 722 Mil.
Total Current Liabilities was USD 478 Mil.
Net Income was 61.486 + 55.885 + 106.535 + 110.146 = USD 334 Mil.

Revenue was 214.653 + 222.701 + 280.32 + 304.912 = USD 1,023 Mil.
Gross Profit was 109.458 + 115.282 + 170.815 + 185.288 = USD 581 Mil.
Average Net Income from the begining of last year (Mar18)
to the end of last year (Mar19) was
(1530.067 + 1553.406 + 1599.695 + 1710.16 + 1885.515) / 5 = USD 1655.7686 Mil.
Total Assets at the begining of last year (Mar18) was USD 1,530 Mil.
Long-Term Debt & Capital Lease Obligation was USD 10 Mil.
Total Current Assets was USD 486 Mil.
Total Current Liabilities was USD 234 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.

Kirkland Lake Gold's current Net Income (TTM) was 653. ==> 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.

Kirkland Lake Gold's current Cash Flow from Operations (TTM) was 984. ==> 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 (Mar19)
=652.812/1885.515
=0.34622477

ROA (Last Year)=Net Income/Total Assets (Mar18)
=334.052/1530.067
=0.21832508

Kirkland Lake Gold's return on assets of this year was 0.34622477. Kirkland Lake Gold's return on assets of last year was 0.21832508. ==> 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.

Kirkland Lake Gold's current Net Income (TTM) was 653. Kirkland Lake Gold's current Cash Flow from Operations (TTM) was 984. ==> 984 > 653 ==> 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: Mar20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar19 to Mar20
=16.294/2930.5094
=0.00556013

Gearing (Last Year: Mar19)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar18 to Mar19
=9.592/1655.7686
=0.00579308

Kirkland Lake Gold's gearing of this year was 0.00556013. Kirkland Lake Gold's gearing of last year was 0.00579308. ==> 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: Mar20)=Total Current Assets/Total Current Liabilities
=721.58/477.85
=1.51005546

Current Ratio (Last Year: Mar19)=Total Current Assets/Total Current Liabilities
=485.817/233.704
=2.07877058

Kirkland Lake Gold's current ratio of this year was 1.51005546. Kirkland Lake Gold's current ratio of last year was 2.07877058. ==> 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.

Kirkland Lake Gold's number of shares in issue this year was 258.36. Kirkland Lake Gold's number of shares in issue last year was 211.967. ==> 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
=987.371/1629.814
=0.60581821

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=580.843/1022.586
=0.56801384

Kirkland Lake Gold's gross margin of this year was 0.60581821. Kirkland Lake Gold's gross margin of last year was 0.56801384. ==> 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 (Mar19)
=1629.814/1885.515
=0.86438665

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar18)
=1022.586/1530.067
=0.6683276

Kirkland Lake Gold's asset turnover of this year was 0.86438665. Kirkland Lake Gold's asset turnover of last year was 0.6683276. ==> 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+0+0+1+1
=7

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

Kirkland Lake Gold has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Kirkland Lake Gold  (NYSE:KL) 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.


Kirkland Lake Gold Piotroski F-Score Related Terms


Kirkland Lake Gold Piotroski F-Score Headlines

No Headline

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)