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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
Star Group LP has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Star Group LP's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Star Group LP was 8. The lowest was 4. And the median was 6.
The historical data trend for Star Group LP'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.
For the Oil & Gas Refining & Marketing subindustry, Star Group LP'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 Oil & Gas industry and Energy sector, Star Group LP's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Star Group LP'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 51.051 + -23.906 + -19.729 + 11.391 = $19 Mil. Cash Flow from Operations was 78.908 + 116.548 + 20.943 + -60.308 = $156 Mil. Revenue was 737.617 + 300.121 + 266.937 + 528.096 = $1,833 Mil. Gross Profit was 195.413 + 56.744 + 41.53 + 141.265 = $435 Mil. Average Total Assets from the begining of this year (Dec22) to the end of this year (Dec23) was (1046.644 + 1007.15 + 884.35 + 875.478 + 944.939) / 5 = $951.7122 Mil. Total Assets at the begining of this year (Dec22) was $1,047 Mil. Long-Term Debt & Capital Lease Obligation was $198 Mil. Total Current Assets was $329 Mil. Total Current Liabilities was $436 Mil. |
Net Income was 66.672 + -10.587 + -49.993 + 11.816 = $18 Mil. Revenue was 782.543 + 439.101 + 296.644 + 648.187 = $2,166 Mil. Gross Profit was 211.992 + 69.238 + 39.222 + 144.714 = $465 Mil. Average Total Assets from the begining of last year (Dec21) to the end of last year (Dec22) was (970.754 + 1090.142 + 983.441 + 912.475 + 1046.644) / 5 = $1000.6912 Mil. Total Assets at the begining of last year (Dec21) was $971 Mil. Long-Term Debt & Capital Lease Obligation was $225 Mil. Total Current Assets was $426 Mil. Total Current Liabilities was $520 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.
Star Group LP's current Net Income (TTM) was 19.
==> 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.
Star Group LP's current Cash Flow from Operations (TTM) was 156.
==> 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) |
= | 18.807 | / | 1046.644 | |
= | 0.01796886 |
ROA (Last Year) | = | Net Income | / | Total Assets (Dec21) |
= | 17.908 | / | 970.754 | |
= | 0.01844752 |
Star Group LP's return on assets of this year was 0.01796886. Star Group LP's return on assets of last year was 0.01844752.
==> 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.
Star Group LP's current Net Income (TTM) was 19. Star Group LP's current Cash Flow from Operations (TTM) was 156.
==> 156 > 19 ==> 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 |
= | 198.01 | / | 951.7122 | |
= | 0.2080566 |
Gearing (Last Year: Dec22) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec21 to Dec22 |
= | 224.909 | / | 1000.6912 | |
= | 0.22475365 |
Star Group LP's gearing of this year was 0.2080566. Star Group LP's gearing of last year was 0.22475365.
==> 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: Dec23) | = | Total Current Assets | / | Total Current Liabilities |
= | 329.489 | / | 435.807 | |
= | 0.75604339 |
Current Ratio (Last Year: Dec22) | = | Total Current Assets | / | Total Current Liabilities |
= | 425.668 | / | 520.117 | |
= | 0.81840817 |
Star Group LP's current ratio of this year was 0.75604339. Star Group LP's current ratio of last year was 0.81840817.
==> 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.
Star Group LP's number of shares in issue this year was 35.593. Star Group LP's number of shares in issue last year was 35.916.
==> 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 |
= | 434.952 | / | 1832.771 | |
= | 0.23731934 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 465.166 | / | 2166.475 | |
= | 0.21471099 |
Star Group LP's gross margin of this year was 0.23731934. Star Group LP's gross margin of last year was 0.21471099.
==> 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 (Dec22) |
= | 1832.771 | / | 1046.644 | |
= | 1.75109302 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Dec21) |
= | 2166.475 | / | 970.754 | |
= | 2.2317446 |
Star Group LP's asset turnover of this year was 1.75109302. Star Group LP's asset turnover of last year was 2.2317446.
==> 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 | + | 1 | + | 0 | + | 1 | + | 1 | + | 0 | + | 1 | + | 1 | + | 0 | |
= | 6 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Star Group LP has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Star Group LP (NYSE:SGU) 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 Star Group LP's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Bandera Partners Llc | 10 percent owner | 50 BROAD STREET, SUITE 1820, NEW YORK NY 10004 |
Jeffrey M Woosnam | director, officer: CEO and President | 9 W. BROAD ST., STE. 310, STAMFORD CT 06902 |
Richard Ambury | officer: CFO | 9 WEST BROAD STREET, SUITE 310, STAMFORD CT 06902 |
Daniel P. Donovan | director | C/O STAR GAS PARTNERS, L.P., 9 WEST BROAD STREET, SUITE 310, STAMFORD CT 06902 |
Vermylen Paul A Jr | director | C/O STAR GAS PARTNERS, L.P., 9 WEST BROAD STREET, SUITE 310, STAMFORD CT 06902 |
Joseph R Mcdonald | officer: Chief Customer Officer | 9 W. BROAD ST., STE. 310, STAMFORD CT 06902 |
Jeffrey S Hammond | officer: Chief Operating Officer | 9 W BROAD ST STE 310, STAMFORD CT 06902 |
Henry D Babcock | director | 9 WEST BROAD STREET, SUITE 310, STAMFORD CT 06902 |
Steven Jay Goldman | director, officer: President and CEO | C/O STAR GAS PARTNERS, L.P., 9 WEST BROAD STREET, SUITE 310, STAMFORD CT 06902 |
David Michael Bauer | director | 833 E. MICHIGAN ST, SUITE 1500, MILWAUKEE WI 53202 |
Yorktown Vi Associates Llc | 10 percent owner | 410 PARK AVENUE, 19TH FLOOR, NEW YORK NY 10022 |
Kestrel Energy Partners Llc | 10 percent owner | 2 COUNT RUMFORD LANE, HUNTINGTON NY 11743 |
Sheldon B Lubar | director | C/O C2 INC, 700 NORTH WATER ST SUITE 1200, MILWAUKEE WI 53202 |
Yorktown Energy Partners Vi Lp | 10 percent owner | 410 PARK AVENUE, 19TH FLOOR, NEW YORK NY 10022 |
Bryan H Lawrence | director | C/O CROSSTEX ENERGY HOLDINGS INC, 2501 CEDAR SPRINGS STE 600, DALLAS TX 75201 |
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