GURUFOCUS.COM » STOCK LIST » USA » NYSE » Synovus Financial Corp (NYSE:SNV) » Definitions » Piotroski F-Score
Switch to:

Synovus Financial Piotroski F-Score

: 6 (As of Today)
View and export this data going back to 1989. Start your Free Trial

The zones of discrimination were as such:

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

Synovus Financial 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 Synovus Financial's Piotroski F-Score or its related term are showing as below:

SNV' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 9
Current: 6

During the past 13 years, the highest Piotroski F-Score of Synovus Financial was 9. The lowest was 2. And the median was 6.


Synovus Financial Piotroski F-Score Historical Data

The historical data trend for Synovus Financial'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.

Synovus Financial 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 7.00 8.00 7.00 3.00 7.00

Synovus Financial 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 7.00 7.00 7.00 6.00

Competitive Comparison

For the Banks - Regional subindustry, Synovus Financial'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.

   

Synovus Financial Piotroski F-Score Distribution

For the Banks industry and Financial Services sector, Synovus Financial's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Synovus Financial'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 186.773 + 200.402 + 171.037 + 178.052 = $736 Mil.
Cash Flow from Operations was 406.816 + -49.326 + 181.332 + 29.662 = $568 Mil.
Revenue was 499.872 + 509.382 + 497.582 + 522.654 = $2,029 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(54938.659 + 55509.129 + 57317.226 + 56419.549 + 57382.745) / 5 = $56313.4616 Mil.
Total Assets at the begining of this year (Jun21) was $54,939 Mil.
Long-Term Debt & Capital Lease Obligation was $1,804 Mil.
Total Assets was $57,383 Mil.
Total Liabilities was $52,798 Mil.
Net Income was 91.574 + 150.409 + 187.093 + 186.2 = $615 Mil.

Revenue was 491.401 + 500.693 + 484.813 + 488.947 = $1,966 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(54121.989 + 53040.538 + 54394.159 + 55159.011 + 54938.659) / 5 = $54330.8712 Mil.
Total Assets at the begining of last year (Jun20) was $54,122 Mil.
Long-Term Debt & Capital Lease Obligation was $1,203 Mil.
Total Assets was $54,939 Mil.
Total Liabilities was $49,701 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.

Synovus Financial's current Net Income (TTM) was 736. ==> 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.

Synovus Financial's current Cash Flow from Operations (TTM) was 568. ==> 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)
=736.264/54938.659
=0.01340156

ROA (Last Year)=Net Income/Total Assets (Jun20)
=615.276/54121.989
=0.01136832

Synovus Financial's return on assets of this year was 0.01340156. Synovus Financial's return on assets of last year was 0.01136832. ==> 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.

Synovus Financial's current Net Income (TTM) was 736. Synovus Financial's current Cash Flow from Operations (TTM) was 568. ==> 568 <= 736 ==> 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
=1804.104/56313.4616
=0.03203682

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=1203.293/54330.8712
=0.0221475

Synovus Financial's gearing of this year was 0.03203682. Synovus Financial's gearing of last year was 0.0221475. ==> 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

* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.

Current Ratio (This Year: Jun22)=Total Assets/Total Liabilities
=57382.745/52798.307
=1.08682926

Current Ratio (Last Year: Jun21)=Total Assets/Total Liabilities
=54938.659/49700.945
=1.1053846

Synovus Financial's current ratio of this year was 1.08682926. Synovus Financial's current ratio of last year was 1.1053846. ==> 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.

Synovus Financial's number of shares in issue this year was 146.315. Synovus Financial's number of shares in issue last year was 149.747. ==> 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.

* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.

Net Margin (This Year: TTM)=Net Income/Revenue
=736.264/2029.49
=0.36278277

Net Margin (Last Year: TTM)=Net Income/Revenue
=615.276/1965.854
=0.31298153

Synovus Financial's net margin of this year was 0.36278277. Synovus Financial's net margin of last year was 0.31298153. ==> This year's net 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)
=2029.49/54938.659
=0.03694102

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=1965.854/54121.989
=0.03632265

Synovus Financial's asset turnover of this year was 0.03694102. Synovus Financial's asset turnover of last year was 0.03632265. ==> 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+0+0+0+1+1+1
=6

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

Synovus Financial has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Synovus Financial  (NYSE:SNV) 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.


Synovus Financial Piotroski F-Score Related Terms

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


Synovus Financial Business Description

Synovus Financial logo
Address
1111 Bay Avenue, Suite 500, Columbus, GA, USA, 31901
Synovus Financial operates dozens of community banks throughout Georgia, Alabama, Florida, Tennessee, and South Carolina. Concentrating on commercial loans and commercial real estate, the bank uses its small-town image to establish strong relationships with its small-business customers. The company's business segments include Community Banking, Wholesale Banking, and Financial Management Services (FMS).
Executives
White Teresa L director 1932 WYNNTON RD COLUMBUS GA 31999
Prochaska Joseph J Jr director METLIFE 200 PARK AVENUE NEW YORK NY 10166
Derrick Robert Warren officer: EVP & Chief Credit Officer 1111 BAY AVENUE, SUITE 500 COLUMBUS GA 31901
Singleton Jeffrey Barton officer: EVP, President FMS 1111 BAY AVENUE SUITE 500 COLUMBUS GA 31901
Bishop Daniel Zachary officer: EVP, Tech., Ops., & Sec. 1111 BAY AVENUE COLUMBUS GA 31901
Dierdorff Thomas T officer: EVP, Corp. & Inv. Banking 1111 BAY AVENUE COLUMBUS GA 31901
Goodwine Sharon officer: EVP Chief Human Resources Off 1111 BAY AVENUE COLUMBUS GA 31901
Weislogel Katherine officer: EVP & Exec. Dir., Treasury 1111 BAY AVENUE COLUMBUS GA 31901
Wolverton Elizabeth D. officer: EVP, Head Con. Bank. Brand Exp 1111 BAY AVENUE SUITE 500 COLUMBUS GA 31901
Akins D Wayne Jr officer: EVP, Chief Comm Banking Off. P.O. BOX 120 COLUMBUS GA 31902
Kamensky Allan E officer: EVP and General Counsel P.O. BOX 120 COLUMBUS GA 31902
Howard Kevin Joseph officer: EVP, Chief Wholesale Bank. Off 1111 BAY AVENUE SUITE 500 COLUMBUS GA 31901
Blair Kevin S. officer: President and CEO 1111 BAY AVENUE, SUITE 500 COLUMBUS GA 31901
Hurley Jill K officer: Chief Accounting Officer 1111 BAY AVENUE, SUITE 200 COLUMBUS GA 31901
Stelling Kessel D director, officer: Executive Chairman 1111 BAY AVENUE SUITE 500 COLUMBUS GA 31901

Synovus Financial 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)