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Park Hotels & Resorts Piotroski F-Score

: 7 (As of Today)
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Good Sign:

Piotroski F-Score is 7, indicates a 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

Park Hotels & Resorts has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Park Hotels & Resorts's Piotroski F-Score or its related term are showing as below:

PK' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 8
Current: 7

During the past 9 years, the highest Piotroski F-Score of Park Hotels & Resorts was 8. The lowest was 2. And the median was 6.


Park Hotels & Resorts Piotroski F-Score Historical Data

The historical data trend for Park Hotels & Resorts'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.

Park Hotels & Resorts Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 5.00 6.00 2.00 6.00

Park Hotels & Resorts Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
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 3.00 3.00 6.00 6.00 7.00

Competitive Comparison

For the REIT - Hotel & Motel subindustry, Park Hotels & Resorts'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.

   

Park Hotels & Resorts Piotroski F-Score Distribution

For the REITs industry and Real Estate sector, Park Hotels & Resorts's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Park Hotels & Resorts'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 (Jun22) TTM:Last Year (Jun21) TTM:
Net Income was -86 + -67 + -57 + 150 = $-60 Mil.
Cash Flow from Operations was 66 + -42 + 44 + 147 = $215 Mil.
Revenue was 423 + 451 + 479 + 695 = $2,048 Mil.
Gross Profit was 95 + 101 + 102 + 223 = $521 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(10266 + 9794 + 9743 + 9703 + 9701) / 5 = $9841.4 Mil.
Total Assets at the begining of this year (Jun21) was $10,266 Mil.
Long-Term Debt & Capital Lease Obligation was $4,918 Mil.
Total Current Assets was $1,062 Mil.
Total Current Liabilities was $335 Mil.
Net Income was -276 + -217 + -190 + -116 = $-799 Mil.

Revenue was 98 + 113 + 165 + 323 = $699 Mil.
Gross Profit was -100 + -60 + -24 + 55 = $-129 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(11059 + 10853 + 10587 + 10434 + 10266) / 5 = $10639.8 Mil.
Total Assets at the begining of last year (Jun20) was $11,059 Mil.
Long-Term Debt & Capital Lease Obligation was $5,323 Mil.
Total Current Assets was $1,119 Mil.
Total Current Liabilities was $281 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.

Park Hotels & Resorts's current Net Income (TTM) was -60. ==> 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.

Park Hotels & Resorts's current Cash Flow from Operations (TTM) was 215. ==> 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 (Jun21)
=-60/10266
=-0.00584454

ROA (Last Year)=Net Income/Total Assets (Jun20)
=-799/11059
=-0.07224885

Park Hotels & Resorts's return on assets of this year was -0.00584454. Park Hotels & Resorts's return on assets of last year was -0.07224885. ==> 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.

Park Hotels & Resorts's current Net Income (TTM) was -60. Park Hotels & Resorts's current Cash Flow from Operations (TTM) was 215. ==> 215 > -60 ==> 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: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=4918/9841.4
=0.49972565

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=5323/10639.8
=0.50029136

Park Hotels & Resorts's gearing of this year was 0.49972565. Park Hotels & Resorts's gearing of last year was 0.50029136. ==> 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: Jun22)=Total Current Assets/Total Current Liabilities
=1062/335
=3.17014925

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=1119/281
=3.98220641

Park Hotels & Resorts's current ratio of this year was 3.17014925. Park Hotels & Resorts's current ratio of last year was 3.98220641. ==> 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.

Park Hotels & Resorts's number of shares in issue this year was 228. Park Hotels & Resorts's number of shares in issue last year was 236. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=521/2048
=0.25439453

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=-129/699
=-0.18454936

Park Hotels & Resorts's gross margin of this year was 0.25439453. Park Hotels & Resorts's gross margin of last year was -0.18454936. ==> 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 (Jun21)
=2048/10266
=0.19949347

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=699/11059
=0.06320644

Park Hotels & Resorts's asset turnover of this year was 0.19949347. Park Hotels & Resorts's asset turnover of last year was 0.06320644. ==> 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
=0+1+1+1+1+0+1+1+1
=7

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

Park Hotels & Resorts has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Park Hotels & Resorts  (NYSE:PK) 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.


Park Hotels & Resorts Piotroski F-Score Related Terms

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Park Hotels & Resorts Business Description

Park Hotels & Resorts logo
Traded in Other Exchanges
Address
1775 Tysons Boulevard, 7th Floor, Tysons, VA, USA, 22102
Park Hotels & Resorts owns upper-upscale and luxury hotels with 27,889 rooms across 48 hotels in the United States. Park also has interests through joint ventures in another 4,297 rooms in seven U.S. hotels. Park was spun out of narrow-moat Hilton Worldwide Holdings at the start of 2017, so most of the company's hotels are still under Hilton brands. The company has sold all its international hotels and 15 lower-quality U.S. hotels to focus on high-quality assets in domestic, gateway markets.
Executives
Vu Nancy M. officer: SVP,Gen. Counsel & Secretary 1775 TYSONS BLVD. 7TH FLOOR TYSONS VA 22102
Natelli Thomas A director 1997 ANNAPOLIS EXCHANGE PARKWAY SUITE 410 ANNAPOLIS MD 21401
Eckert Thomas D director 1997 ANNAPOLIS EXCHANGE PARKWAY SUITE 410 ANNAPOLIS MD 21401
Mayfield Carl A. officer: EVP, Design and Construction C/O PARK HOTELS & RESORTS INC. 1775 TYSONS BLVD, 7TH FLOOR TYSONS VA 22102
Garrett Geoffrey director C/O PARK HOTELS & RESORTS 1775 TYSONS BOULEVARD, 7TH FLOOR TYSONS VA 22102
Xianyu Mu director C/O PARK HOTELS & RESORTS INC. 1600 TYSONS BOULEVARD, STE. 1000 MCLEAN VA 22102
Hna Tourism (hk) Group Co., Ltd. 10 percent owner THE CENTER, 99 QUEEN'S ROAD CENTRAL CENTRAL K3 999077
Hna Hlt Holdco I Llc 10 percent owner THE CORPORATION TRUST COMPANY 1209 ORANGE STREET WILMINGTON DE 19801
Hna Hlt Holdco Iii Ltd 10 percent owner THE CENTER 99 QUEEN?S ROAD CENTRAL CENTRAL K3 999077
Hna Group Co., Ltd. 10 percent owner HNA BUILDING NO. 7 GUOXING ROAD HAIKOU, HAINAN F4 570203
Hna Hlt Holdco Ii Llc 10 percent owner THE CORPORATION TRUST COMPANY 1209 ORANGE STREET WILMINGTON DE 19801
Hna Tourism Group Co., Ltd. 10 percent owner HNA BUILDING NO. 7 GUOXING ROAD HAIKOU F4 570203
Hlt Breh Vi-a Holdings Prime Holdco Llc 10 percent owner C/O THE BLACKSTONE GROUP L.P. 345 PARK AVE. NEW YORK NY 10154
Bedient Patricia M director 33663 WEYERHAEUSER WAY SOUTH FEDERAL WAY WA 98003
Olander Jill C officer: See Remarks C/O PARK HOTELS & RESORTS INC. 1775 TYSONS BLVD., 7TH FLOOR TYSONS VA 22102

Park Hotels & Resorts Headlines

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Bear of the Day: Park Hotels (PK)

By Zacks 2020-10-01

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