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Spire Piotroski F-Score

: 5 (As of Today)
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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

Spire has an F-score of 5 indicating the company's financial situation is typical for a stable company.

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

NYSE:SR' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 5

2
7

During the past 13 years, the highest Piotroski F-Score of Spire was 7. The lowest was 2. And the median was 5.


Spire Piotroski F-Score Historical Data

The historical data trend for Spire'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.

Spire Annual Data
Trend Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 6.00 6.00 4.00 4.00

Spire Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
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 4.00 4.00 5.00 7.00 5.00

Competitive Comparison

For the Utilities - Regulated Gas subindustry, Spire'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.

   

Spire Piotroski F-Score Distribution

For the Utilities - Regulated industry and Utilities sector, Spire's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Spire'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 (Jun21) TTM:Last Year (Jun20) TTM:
Net Income was -19.7 + 88.9 + 187.4 + 5.3 = $262 Mil.
Cash Flow from Operations was 16.1 + 7.6 + 151.6 + 61.5 = $237 Mil.
Revenue was 251.9 + 512.6 + 1104.9 + 327.8 = $2,197 Mil.
Gross Profit was 76.3 + 219.8 + 366.8 + 118.9 = $782 Mil.
Average Total Assets from the begining of this year (Jun20)
to the end of this year (Jun21) was
(7822.6 + 8241.2 + 8515.6 + 8936.8 + 8893.3) / 5 = $8481.9 Mil.
Total Assets at the begining of this year (Jun20) was $7,823 Mil.
Long-Term Debt & Capital Lease Obligation was $2,939 Mil.
Total Current Assets was $898 Mil.
Total Current Liabilities was $1,292 Mil.
Net Income was -34.3 + 67 + 133.6 + -92.3 = $74 Mil.

Revenue was 225.6 + 566.9 + 715.5 + 321.1 = $1,829 Mil.
Gross Profit was 50.6 + 188.4 + 312.7 + 123.3 = $675 Mil.
Average Total Assets from the begining of last year (Jun19)
to the end of last year (Jun20) was
(7332 + 7619.2 + 7961 + 8018 + 7822.6) / 5 = $7750.56 Mil.
Total Assets at the begining of last year (Jun19) was $7,332 Mil.
Long-Term Debt & Capital Lease Obligation was $2,478 Mil.
Total Current Assets was $559 Mil.
Total Current Liabilities was $1,108 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.

Spire's current Net Income (TTM) was 262. ==> 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.

Spire's current Cash Flow from Operations (TTM) was 237. ==> 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 (Jun20)
=261.9/7822.6
=0.03347992

ROA (Last Year)=Net Income/Total Assets (Jun19)
=74/7332
=0.01009274

Spire's return on assets of this year was 0.03347992. Spire's return on assets of last year was 0.01009274. ==> 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.

Spire's current Net Income (TTM) was 262. Spire's current Cash Flow from Operations (TTM) was 237. ==> 237 <= 262 ==> 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: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=2939/8481.9
=0.34650255

Gearing (Last Year: Jun20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun19 to Jun20
=2478.3/7750.56
=0.31975754

Spire's gearing of this year was 0.34650255. Spire's gearing of last year was 0.31975754. ==> 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: Jun21)=Total Current Assets/Total Current Liabilities
=898.3/1291.8
=0.69538628

Current Ratio (Last Year: Jun20)=Total Current Assets/Total Current Liabilities
=559.3/1107.8
=0.50487453

Spire's current ratio of this year was 0.69538628. Spire's current ratio of last year was 0.50487453. ==> 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.

Spire's number of shares in issue this year was 51.7. Spire's number of shares in issue last year was 51.2. ==> 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
=781.8/2197.2
=0.35581649

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=675/1829.1
=0.36903395

Spire's gross margin of this year was 0.35581649. Spire's gross margin of last year was 0.36903395. ==> 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 (Jun20)
=2197.2/7822.6
=0.28087848

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun19)
=1829.1/7332
=0.24946809

Spire's asset turnover of this year was 0.28087848. Spire's asset turnover of last year was 0.24946809. ==> 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+1+0+0+1
=5

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

Spire has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Spire  (NYSE:SR) 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.


Spire Piotroski F-Score Related Terms

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


Spire Business Description

Spire logo
Industry
Utilities » Utilities - Regulated NAICS : 221210 SIC : 4924
Traded in Other Exchanges
Address
700 Market Street, Saint Louis, MO, USA, 63101
Spire Inc is a public utility holding company with two key business segments: Gas Utility and Gas Marketing. The Gas Utility segment includes the regulated operations of Laclede Gas, Alabama Gas Corporation (Alagasco), and EnergySouth Inc. The Utilities businesses operations include the purchase, retail, distribution, and sale of natural gas in Missouri, Alabama, and Mississippi. The Gas Utility segment generates a majority of the company's revenue but is subject to seasonal fluctuations. The Gas Marketing segment includes Laclede Energy Resources, Inc, whose operations include the marketing of natural gas and related activities on a non-regulated basis.
Executives
Hampton Joseph B. officer: President, AL & MS 700 MARKET STREET ST. LOUIS MO 63101
Woodard Adam W. officer: Treasurer 700 MARKET STREET ST. LOUIS MO 63101
Rasche Steven P officer: Executive Vice President 12442 CINEMA LANE SAINT LOUIS MO 63127
Van Lokeren Mary Ann director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: VAN LOKEREN MARY ANN a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Fogarty Maria V. director 720 OLIVE ST. LOUIS MO 63101
Jones Rob L. director 555 EAST AIRTEX DRIVE HOUSTON TX 77073
Borer Mark A director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: BORER MARK A a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Glotzbach Edward L director C/O VISUAL NETWORKS INC 2092 GAITHER ROAD ROCKVILLE MD 20850
Newberry Brenda D director 720 OLIVE STREET ST. LOUIS MO 63101
Schwartz Stephen S director 46897 BAYSIDE PARKWAY FREMONT CA 94538
Stupp John P Jr director STUPP JOHN P JR 120 SOUTH CENTRAL AVE STE 1650 ST LOUIS MO 63105
Carter Scott B. officer: SVP, COO of Distribution Ops 700 MARKET STREET ST. LOUIS MO 63101
Sitherwood Suzanne director, officer: President & CEO 700 MARKET STREET SAINT LOUIS MO 63101
Darrell Mark C officer: Senior Vice President 720 OLIVE STREET SAINT LOUIS MO 63101
Geiselhart Michael C officer: Senior Vice President 720 OLIVE STREET SAINT LOUIS MO 63101

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