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RedBall Acquisition (RedBall Acquisition) Piotroski F-Score : 0 (As of Apr. 25, 2024)


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What is RedBall Acquisition Piotroski F-Score?

The zones of discrimination were as such:

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

RedBall Acquisition has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for RedBall Acquisition's Piotroski F-Score or its related term are showing as below:


RedBall Acquisition Piotroski F-Score Historical Data

The historical data trend for RedBall Acquisition'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.

RedBall Acquisition Piotroski F-Score Chart

RedBall Acquisition Annual Data
Trend Dec20 Dec21
Piotroski F-Score
N/A N/A

RedBall Acquisition Quarterly Data
May20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only N/A N/A N/A N/A 3.00

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 (Jun22) TTM:Last Year (Jun21) TTM:
Net Income was 7.819 + -34.403 + 5.724 + 38.58 = $17.72 Mil.
Cash Flow from Operations was -0.125 + -0.688 + -0.62 + 0 = $-1.43 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(576.859 + 576.82 + 576.058 + 575.851 + 576.486) / 5 = $576.4148 Mil.
Total Assets at the begining of this year (Jun21) was $576.86 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Total Current Assets was $0.32 Mil.
Total Current Liabilities was $13.86 Mil.
Net Income was -1.508 + -23.587 + 25.467 + 7.894 = $8.27 Mil.

Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Average Total Assets from the begining of last year (May20)
to the end of last year (Jun21) was
(0.416 + 577.161 + 577.193 + 576.903 + 576.859) / 5 = $461.7064 Mil.
Total Assets at the begining of last year (May20) was $0.42 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Total Current Assets was $1.50 Mil.
Total Current Liabilities was $1.81 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.

RedBall Acquisition's current Net Income (TTM) was 17.72. ==> 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.

RedBall Acquisition's current Cash Flow from Operations (TTM) was -1.43. ==> 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 (Jun21)
=17.72/576.859
=0.03071808

ROA (Last Year)=Net Income/Total Assets (May20)
=8.266/0.416
=19.87019231

RedBall Acquisition's return on assets of this year was 0.03071808. RedBall Acquisition's return on assets of last year was 19.87019231. ==> Last year is higher ==> Score 0.

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.

RedBall Acquisition's current Net Income (TTM) was 17.72. RedBall Acquisition's current Cash Flow from Operations (TTM) was -1.43. ==> -1.43 <= 17.72 ==> 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: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=0/576.4148
=0

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from May20 to Jun21
=0/461.7064
=0

RedBall Acquisition's gearing of this year was 0. RedBall Acquisition's gearing of last year was 0. ==> 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
=0.324/13.857
=0.02338168

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=1.5/1.806
=0.83056478

RedBall Acquisition's current ratio of this year was 0.02338168. RedBall Acquisition's current ratio of last year was 0.83056478. ==> 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.

RedBall Acquisition's number of shares in issue this year was 71.875. RedBall Acquisition's number of shares in issue last year was 71.875. ==> 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
=0/0
=

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=0/0
=

RedBall Acquisition's gross margin of this year was . RedBall Acquisition's gross margin of last year was . ==> 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 (Jun21)
=0/576.859
=0

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (May20)
=0/0.416
=0

RedBall Acquisition's asset turnover of this year was 0. RedBall Acquisition's asset turnover of last year was 0. ==> 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+0+0+0+1+0+1+0+0
=3

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

RedBall Acquisition has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

RedBall Acquisition  (NYSE:RBAC) 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.


RedBall Acquisition Piotroski F-Score Related Terms

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RedBall Acquisition (RedBall Acquisition) Business Description

Traded in Other Exchanges
N/A
Address
667 Madison Avenue, 16th Floor, New York, NY, USA, 10065
RedBall Acquisition Corp is a blank check company.
Executives
Glazer Capital, Llc 10 percent owner 250 WEST 55TH STREET, SUITE 30A, NEW YORK NY 10019
Paul J Glazer 10 percent owner 250 WEST 55TH ST, SUITE 30A, NEW YORK NY 10019
Redball Sponsorco Lp 10 percent owner 667 MADISON AVENUE, 16TH FLOOR, NEW YORK NY 10065
Redbird Capital Partners Holdings Llc 10 percent owner 667 MADISON AVENUE, 16TH FLOOR, NEW YORK NY 10065
Redbird Series 2019 Gp Co-invest, Lp 10 percent owner 667 MADISON AVENUE, 16TH FLOOR, NEW YORK NY 10065
Redbird Series 2019 Carry Vehicle Llc 10 percent owner 667 MADISON AVENUE, 16TH FLOOR, NEW YORK NY 10065
Redbird Capital Partners Llc 10 percent owner 667 MADISON AVENUE, 16TH FLOOR, NEW YORK NY 10065
Redbird Series 2019 Holdings Carry Vehicle Lp 10 percent owner 667 MADISON AVENUE, 16TH FLOOR, NEW YORK NY 10065
S2019 Redball Lp 10 percent owner 667 MADISON AVENUE, 16TH FLOOR, NEW YORK NY 10065
Redbird Holdings Carry Vehicle Lp 10 percent owner 667 MADISON AVENUE, 16TH FLOOR, NEW YORK NY 10065
Redbird Series 2019 Gp Co-invest Genpar Llc 10 percent owner 667 MADISON AVENUE, 16TH FLOOR, NEW YORK NY 10065
Redball Sponsorco Gp Llc 10 percent owner 667 MADISON AVENUE, 16TH FLOOR, NEW YORK NY 10065
Redbird Series 2019 Gen Par Llc 10 percent owner 667 MADISON AVENUE, 16TH FLOOR, NEW YORK NY 10065
Volkert H. Doeksen director RIOUWSTRAAT 10, THE HAGVE P7 2585HA
Deborah A Farrington director STARVEST PARTNERS, L.P., 750 LEXINGTON AVENUE, 15TH FLOOR, NEW YORK NY 10022

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