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PIMCOorate &ome Strategy Fund Piotroski F-Score

: 4 (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

PIMCOorate &ome Strategy Fund 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 PIMCOorate &ome Strategy Fund's Piotroski F-Score or its related term are showing as below:

PCN' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 4   Max: 6
Current: 4

During the past 5 years, the highest Piotroski F-Score of PIMCOorate &ome Strategy Fund was 6. The lowest was 3. And the median was 4.


PIMCOorate &ome Strategy Fund Piotroski F-Score Historical Data

The historical data trend for PIMCOorate &ome Strategy Fund'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.

PIMCOorate &ome Strategy Fund Annual Data
Trend Jul17 Jul18 Jul19 Jul20 Jul21
Piotroski F-Score
N/A N/A 6.00 3.00 4.00

PIMCOorate &ome Strategy Fund Semi-Annual Data
Jul17 Jan18 Jul18 Jan19 Jul19 Jan20 Jul20 Jan21 Jul21 Jan22
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - 3.00 - 4.00 -

Competitive Comparison

For the Asset Management subindustry, PIMCOorate &ome Strategy Fund'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.

   

PIMCOorate &ome Strategy Fund Piotroski F-Score Distribution

For the Asset Management industry and Financial Services sector, PIMCOorate &ome Strategy Fund's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where PIMCOorate &ome Strategy Fund'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 (Jul21) TTM:Last Year (Jul20) TTM:
Net Income was $120.75 Mil.
Cash Flow from Operations was $-228.23 Mil.
Revenue was $120.95 Mil.
Average Total Assets from the begining of this year (Jul20)
to the end of this year (Jul21) was (776.899 + 1105.619) / 2 = $941.259 Mil.
Total Assets at the begining of this year (Jul20) was $776.90 Mil.
Long-Term Debt & Capital Lease Obligation was $415.97 Mil.
Total Assets was $1,105.62 Mil.
Total Liabilities was $476.26 Mil.
Net Income was $-30.79 Mil.

Revenue was $-30.60 Mil.
Average Total Assets from the begining of last year (Jul19)
to the end of last year (Jul20) was (798.324 + 776.899) / 2 = $787.6115 Mil.
Total Assets at the begining of last year (Jul19) was $798.32 Mil.
Long-Term Debt & Capital Lease Obligation was $163.77 Mil.
Total Assets was $776.90 Mil.
Total Liabilities was $243.89 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.

PIMCOorate &ome Strategy Fund's current Net Income (TTM) was 120.75. ==> 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.

PIMCOorate &ome Strategy Fund's current Cash Flow from Operations (TTM) was -228.23. ==> Negative ==> Score 0.

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 (Jul20)
=120.753/776.899
=0.15542947

ROA (Last Year)=Net Income/Total Assets (Jul19)
=-30.792/798.324
=-0.03857081

PIMCOorate &ome Strategy Fund's return on assets of this year was 0.15542947. PIMCOorate &ome Strategy Fund's return on assets of last year was -0.03857081. ==> 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.

PIMCOorate &ome Strategy Fund's current Net Income (TTM) was 120.75. PIMCOorate &ome Strategy Fund's current Cash Flow from Operations (TTM) was -228.23. ==> -228.23 <= 120.75 ==> CFROA <= ROA ==> Score 0.

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: Jul21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jul20 to Jul21
=415.972/941.259
=0.4419315

Gearing (Last Year: Jul20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jul19 to Jul20
=163.77/787.6115
=0.20793246

PIMCOorate &ome Strategy Fund's gearing of this year was 0.4419315. PIMCOorate &ome Strategy Fund's gearing of last year was 0.20793246. ==> 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

* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.

Current Ratio (This Year: Jul21)=Total Assets/Total Liabilities
=1105.619/476.264
=2.32144147

Current Ratio (Last Year: Jul20)=Total Assets/Total Liabilities
=776.899/243.886
=3.1855006

PIMCOorate &ome Strategy Fund's current ratio of this year was 2.32144147. PIMCOorate &ome Strategy Fund's current ratio of last year was 3.1855006. ==> 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.

PIMCOorate &ome Strategy Fund's number of shares in issue this year was 40.108. PIMCOorate &ome Strategy Fund's number of shares in issue last year was 40.519. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

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.

* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.

Net Margin (This Year: TTM)=Net Income/Revenue
=120.753/120.946
=0.99840425

Net Margin (Last Year: TTM)=Net Income/Revenue
=-30.792/-30.597
=1.00637317

PIMCOorate &ome Strategy Fund's net margin of this year was 0.99840425. PIMCOorate &ome Strategy Fund's net margin of last year was 1.00637317. ==> Last year's net 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 (Jul20)
=120.946/776.899
=0.15567789

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jul19)
=-30.597/798.324
=-0.03832654

PIMCOorate &ome Strategy Fund's asset turnover of this year was 0.15567789. PIMCOorate &ome Strategy Fund's asset turnover of last year was -0.03832654. ==> 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+0+1+0+0+0+1+0+1
=4

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

PIMCOorate &ome Strategy Fund has an F-score of 4 indicating the company's financial situation is typical for a stable company.

PIMCOorate &ome Strategy Fund  (NYSE:PCN) 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.


PIMCOorate &ome Strategy Fund Piotroski F-Score Related Terms

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PIMCOorate &ome Strategy Fund Business Description

PIMCOorate &ome Strategy Fund logo
Traded in Other Exchanges
N/A
Address
1633 Broadway, New York, NY, USA, 10019
PIMCO Corporate & Income Strategy Fund is a closed-end management investment company. Its objective is to seek high current income. The secondary investment objective of the fund is capital preservation and appreciation. It invests in the corporate bonds and notes, non-agency mortgage-backed securities, asset-backed securities, short-term instruments and others.
Executives
Cantrill Elizabeth Davis other: SEE REMARKS C/O PIMCO 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660
Meggers Julie Ann other: SEE REMARKS C/O PIMCO 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660
Jelic Mark Allen officer: Vice President C/O PACIFIC INVESTMENT MANAGEMENT 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660
Vandecruze Grace director 125 TOWNPARK DRIVE, SUITE 300 KENNESAW GA 30144
Zakir Nadia other: SEE REMARKS C/O PIMCO 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660
Duggan Elizabeth A officer: Vice President C/O PIMCO 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660
Brigliadori Geraldine Edith other: SEE REMARKS C/O PIMCO 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660
Ananthanarayanan Vishalakshi Mangala other: SEE REMARKS C/O PIMCO 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660
Hall Gregory Weston other: SEE REMARKS C/O PIMCO 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660
Kittredge Joseph Baker Jr director C/O PIMCO 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660
Tournier Eve Anne Celine other: SEE REMARKS C/O PIMCO 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660
Whitten Candice Stack other: SEE REMARKS C/O PIMCO 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660
Schneider Jerome M other: SEE REMARKS C/O PIMCO 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660
Zhang Hao Jessica officer: Assistant Treasurer C/O PIMCO 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660
Byer Jeffrey Alan officer: Vice President C/O PIMCO 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92626

PIMCOorate &ome Strategy Fund Headlines

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