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
-
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.
*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.
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.
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.
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.
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
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.
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
Thank you for viewing the detailed overview of PIMCOorate &ome Strategy Fund's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
PIMCOorate &ome Strategy Fund Business Description
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.
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