GURUFOCUS.COM » STOCK LIST » USA » NYSE » Tanger Factory Outlet Centers Inc (NYSE:SKT) » Definitions » Piotroski F-Score
Switch to:

Tanger Factory Outlet Centers Piotroski F-Score

: 7 (As of Today)
View and export this data going back to 1993. Start your Free Trial

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

Tanger Factory Outlet Centers 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 Tanger Factory Outlet Centers's Piotroski F-Score or its related term are showing as below:

SKT' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Tanger Factory Outlet Centers was 8. The lowest was 3. And the median was 5.


Tanger Factory Outlet Centers Piotroski F-Score Historical Data

The historical data trend for Tanger Factory Outlet Centers'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.

Tanger Factory Outlet Centers Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 6.00 7.00 4.00 8.00

Tanger Factory Outlet Centers 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 7.00 6.00 8.00 7.00 7.00

Competitive Comparison

For the REIT - Retail subindustry, Tanger Factory Outlet Centers'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.

   

Tanger Factory Outlet Centers Piotroski F-Score Distribution

For the REITs industry and Real Estate sector, Tanger Factory Outlet Centers's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Tanger Factory Outlet Centers'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 -10.579 + 13.086 + 20.518 + 19.905 = $42.9 Mil.
Cash Flow from Operations was 52.345 + 73.768 + 18.854 + 70.221 = $215.2 Mil.
Revenue was 112.465 + 112.093 + 108.868 + 105.838 = $439.3 Mil.
Gross Profit was 75.279 + 75.104 + 72.11 + 73.141 = $295.6 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(2131.082 + 2149.161 + 2157.384 + 2134.232 + 2155.245) / 5 = $2145.4208 Mil.
Total Assets at the begining of this year (Jun21) was $2,131.1 Mil.
Long-Term Debt & Capital Lease Obligation was $1,484.3 Mil.
Total Current Assets was $290.2 Mil.
Total Current Liabilities was $76.5 Mil.
Net Income was 13.029 + 0.263 + 4.133 + 2.478 = $19.9 Mil.

Revenue was 103.213 + 111.155 + 100.694 + 101.273 = $416.3 Mil.
Gross Profit was 68.007 + 76.011 + 65.383 + 70.023 = $279.4 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(2563.792 + 2185.475 + 2189.531 + 2259.421 + 2131.082) / 5 = $2265.8602 Mil.
Total Assets at the begining of last year (Jun20) was $2,563.8 Mil.
Long-Term Debt & Capital Lease Obligation was $1,458.2 Mil.
Total Current Assets was $196.3 Mil.
Total Current Liabilities was $70.3 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.

Tanger Factory Outlet Centers's current Net Income (TTM) was 42.9. ==> 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.

Tanger Factory Outlet Centers's current Cash Flow from Operations (TTM) was 215.2. ==> 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)
=42.93/2131.082
=0.0201447

ROA (Last Year)=Net Income/Total Assets (Jun20)
=19.903/2563.792
=0.00776311

Tanger Factory Outlet Centers's return on assets of this year was 0.0201447. Tanger Factory Outlet Centers's return on assets of last year was 0.00776311. ==> 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.

Tanger Factory Outlet Centers's current Net Income (TTM) was 42.9. Tanger Factory Outlet Centers's current Cash Flow from Operations (TTM) was 215.2. ==> 215.2 > 42.9 ==> 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
=1484.345/2145.4208
=0.6918666

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=1458.221/2265.8602
=0.64356177

Tanger Factory Outlet Centers's gearing of this year was 0.6918666. Tanger Factory Outlet Centers's gearing of last year was 0.64356177. ==> 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: Jun22)=Total Current Assets/Total Current Liabilities
=290.176/76.512
=3.79255542

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=196.333/70.328
=2.79167615

Tanger Factory Outlet Centers's current ratio of this year was 3.79255542. Tanger Factory Outlet Centers's current ratio of last year was 2.79167615. ==> This year's current ratio is higher. ==> Score 1.

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.

Tanger Factory Outlet Centers's number of shares in issue this year was 104.754. Tanger Factory Outlet Centers's number of shares in issue last year was 101.998. ==> 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
=295.634/439.264
=0.67302124

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=279.424/416.335
=0.67115184

Tanger Factory Outlet Centers's gross margin of this year was 0.67302124. Tanger Factory Outlet Centers's gross margin of last year was 0.67115184. ==> 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)
=439.264/2131.082
=0.20612252

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=416.335/2563.792
=0.16239032

Tanger Factory Outlet Centers's asset turnover of this year was 0.20612252. Tanger Factory Outlet Centers's asset turnover of last year was 0.16239032. ==> 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+1+1+1+0+1+0+1+1
=7

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

Tanger Factory Outlet Centers has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Tanger Factory Outlet Centers  (NYSE:SKT) 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.


Tanger Factory Outlet Centers Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Tanger Factory Outlet Centers's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Tanger Factory Outlet Centers Business Description

Tanger Factory Outlet Centers logo
Traded in Other Exchanges
Address
3200 Northline Avenue, Suite 360, Greensboro, NC, USA, 27408
Tanger Factory Outlet Centers Inc is the owner and operator of outlet centers in the United States and Canada. It is a fully-integrated, self-administered and self-managed REIT, which focuses on developing, acquiring, owning, operating and managing outlet shopping centers. The company operates approximately 30 outlet centers, with a total gross leasable area of approximately 11.5 million square feet, which holds over 2,200 stores with hundreds of store brands. Substantially most of the firm's revenue is derived from rental income from real property. Geographically, the activities are carried out through the United States.
Executives
Stein Justin C officer: EVP, Leasing 3200 NORTHLINE AVE. SUITE 360 GREENSBORO NC 27408
Wingrove Andrew R officer: EVP, Chief Commercial Officer 3200 NORTHLINE AVE., SUITE 360 GREENSBORO NC 27408
Mathrani Sandeep director
Swanson Gallardo Leslie officer: Executive VP Operations 3200 NORTHLINE AVE. SUITE 360 GREENSBORO NC 27408
Yalof Stephen officer: President & COO 3200 NORTHLINE AVE., SUITE 360 GREENSBORO NC 27408
Ubinas Luis A director 209 REDWOOD SHORES PARKWAY REDWOOD CITY CA 94065-1175
Skerritt Susan E director 3200 NORTHLINE AVE SUITE 360 GREENSBORO NC 27408
Guerrieri Thomas Joseph Jr officer: VP, CAO and Controller 3200 NORTHLINE AVE. SUITE 360 GREENSBORO NC 27408
Henry David director 3333 NEW HYDE PARK ROAD NEW HYDE PARK NY 11042
Citrin Jeffrey B director 950 THIRD AVENUE 17TH FLOOR NEW YORK NY 10022
Worsham Charles Allen officer: SVP,Construction & Development 3200 NORTHLINE AVENUE, SUITE 360 GREENSBORO NC 27408
Perry Chad officer: EVP,General Counsel,Secretary C/O TANGER FACTORY OUTLET CENTERS, INC. 3200 NORTHLINE AVENUE, SUITE 360 GREENSBORO NC 27408
Mcdonough Thomas E. officer: EVP, Chief Operating Officer 1600 NE MIAMI GARDENS DRIVE NORTH MIAMI BEACH FL 33179
Jessup Manuel O officer: Senior VP - Human Resources 11215 METRO PARKWAY FORT MYERS FL 33966
Reddin Thomas director 11115 RUSHMORE DR CHARLOTTE NC 28277

Tanger Factory Outlet Centers Headlines

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)