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Warning Sign:
Piotroski F-Score of 3 is low, which usually implies poor business operation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Anywhere Real Estate 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 Anywhere Real Estate's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Anywhere Real Estate was 8. The lowest was 3. And the median was 6.
The historical data trend for Anywhere Real Estate'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.
Anywhere Real Estate Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 5.00 | 4.00 | 7.00 | 3.00 | 3.00 |
Anywhere Real Estate Quarterly Data | ||||||||||||||||||||
Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Piotroski F-Score | Get a 7-Day Free Trial | 3.00 | 4.00 | 3.00 | 4.00 | 3.00 |
For the Real Estate Services subindustry, Anywhere Real Estate'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.
For the Real Estate industry and Real Estate sector, Anywhere Real Estate's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Anywhere Real Estate'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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Net Income was -138 + 19 + 129 + -107 = $-97 Mil. Cash Flow from Operations was -113 + 93 + 145 + 62 = $187 Mil. Revenue was 1131 + 1671 + 1584 + 1250 = $5,636 Mil. Gross Profit was 408 + 579 + 547 + 438 = $1,972 Mil. Average Total Assets from the begining of this year (Dec22) to the end of this year (Dec23) was (6383 + 6195 + 6219 + 6059 + 5839) / 5 = $6139 Mil. Total Assets at the begining of this year (Dec22) was $6,383 Mil. Long-Term Debt & Capital Lease Obligation was $2,568 Mil. Total Current Assets was $580 Mil. Total Current Liabilities was $1,207 Mil. |
Net Income was 23 + 88 + 55 + -453 = $-287 Mil. Revenue was 1635 + 2142 + 1808 + 1323 = $6,908 Mil. Gross Profit was 647 + 740 + 638 + 468 = $2,493 Mil. Average Total Assets from the begining of last year (Dec21) to the end of last year (Dec22) was (7210 + 6857 + 6978 + 7013 + 6383) / 5 = $6888.2 Mil. Total Assets at the begining of last year (Dec21) was $7,210 Mil. Long-Term Debt & Capital Lease Obligation was $2,854 Mil. Total Current Assets was $834 Mil. Total Current Liabilities was $1,305 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.
Anywhere Real Estate's current Net Income (TTM) was -97.
==> 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.
Anywhere Real Estate's current Cash Flow from Operations (TTM) was 187.
==> 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 (Dec22) |
= | -97 | / | 6383 | |
= | -0.01519662 |
ROA (Last Year) | = | Net Income | / | Total Assets (Dec21) |
= | -287 | / | 7210 | |
= | -0.03980583 |
Anywhere Real Estate's return on assets of this year was -0.01519662. Anywhere Real Estate's return on assets of last year was -0.03980583.
==> 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.
Anywhere Real Estate's current Net Income (TTM) was -97. Anywhere Real Estate's current Cash Flow from Operations (TTM) was 187.
==> 187 > -97 ==> 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: Dec23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec22 to Dec23 |
= | 2568 | / | 6139 | |
= | 0.41830917 |
Gearing (Last Year: Dec22) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec21 to Dec22 |
= | 2854 | / | 6888.2 | |
= | 0.41433176 |
Anywhere Real Estate's gearing of this year was 0.41830917. Anywhere Real Estate's gearing of last year was 0.41433176.
==> 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
Current Ratio (This Year: Dec23) | = | Total Current Assets | / | Total Current Liabilities |
= | 580 | / | 1207 | |
= | 0.48053024 |
Current Ratio (Last Year: Dec22) | = | Total Current Assets | / | Total Current Liabilities |
= | 834 | / | 1305 | |
= | 0.63908046 |
Anywhere Real Estate's current ratio of this year was 0.48053024. Anywhere Real Estate's current ratio of last year was 0.63908046.
==> 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.
Anywhere Real Estate's number of shares in issue this year was 110.6. Anywhere Real Estate's number of shares in issue last year was 109.3.
==> 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 |
= | 1972 | / | 5636 | |
= | 0.34989354 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 2493 | / | 6908 | |
= | 0.36088593 |
Anywhere Real Estate's gross margin of this year was 0.34989354. Anywhere Real Estate's gross margin of last year was 0.36088593.
==> 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 (Dec22) |
= | 5636 | / | 6383 | |
= | 0.88297039 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Dec21) |
= | 6908 | / | 7210 | |
= | 0.95811373 |
Anywhere Real Estate's asset turnover of this year was 0.88297039. Anywhere Real Estate's asset turnover of last year was 0.95811373.
==> 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 |
= | 0 | + | 1 | + | 1 | + | 1 | + | 0 | + | 0 | + | 0 | + | 0 | + | 0 | |
= | 3 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Anywhere Real Estate has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
Anywhere Real Estate (NYSE:HOUS) 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.
Thank you for viewing the detailed overview of Anywhere Real Estate's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Michael J Williams | director | 1100 15TH STREET NW, WASHINGTON DC 20005 |
Enrique Silva | director | 175 PARK AVENUE, MADISON NJ 07940 |
Perry Egbert L. J. | director | C/O ANYWHERE REAL ESTATE INC., 1, MADISON NJ 07940 |
Nashira W. Layade | officer: EVP & CTO, Technology Services | 175 PARK AVE., MADISON NJ 07940 |
Donald J Casey | officer: Pres/CEO, Title Resource Group | 175 PARK AVENUE, MADISON NJ 07940 |
Timothy B. Gustavson | officer: SVP, CHIEF ACCOUNTING OFFICER | 175 PARK AVE., MADISON NJ 07940 |
Marilyn J. Wasser | officer: EVP, General Counsel and Sect. | 175 PARK AVENUE, MADISON NJ 07940 |
Melissa K Mcsherry | officer: Chief Operating Officer | 175 PARK AVENUE, MADISON NJ 07940 |
Felicia Williams | director | C/O MACY'S, INC., 151 WEST 34TH STREET, NEW YORK NY 10001 |
Tanya Reu-narvaez | officer: Chief People Officer | 175 PARK AVE, MADISON NJ 07940 |
Susan Yannaccone | officer: Pres/CEO Realogy Franchise Grp | 175 PARK AVE., MADISON NJ 07940 |
Muhammad Rizwan Akhtar | officer: EVP & CTO, Business Technology | 175 PARK AVE., MADISON NJ 07940 |
V Ann Hailey | director | THREE LIMITED PARKWAY, COLUMBUS OH 43230 |
Katrina L Helmkamp | officer: Pres/CEO, Cartus Corporation | 1925 WEST FIELD COURT, SUITE 200, LAKE FOREST IL 60045 |
Ryan M. Schneider | director, officer: President and COO | 1680 CAPITAL ONE DRIVE, MCLEAN VA 22102 |
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