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Textainer Group Holdings Piotroski F-Score

: 8 (As of Today)
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Good Sign:

Piotroski F-Score is 8, 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

Textainer Group Holdings has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

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

TGH' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 8

During the past 13 years, the highest Piotroski F-Score of Textainer Group Holdings was 8. The lowest was 4. And the median was 6.


Textainer Group Holdings Piotroski F-Score Historical Data

The historical data trend for Textainer Group Holdings'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.

Textainer Group Holdings 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 7.00 6.00 7.00 8.00

Textainer Group Holdings 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 8.00 8.00 8.00 8.00

Competitive Comparison

For the Rental & Leasing Services subindustry, Textainer Group Holdings'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.

   

Textainer Group Holdings Piotroski F-Score Distribution

For the Business Services industry and Industrials sector, Textainer Group Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Textainer Group Holdings'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 68.343 + 77.854 + 77.674 + 83.559 = $307.4 Mil.
Cash Flow from Operations was 109.603 + 228.166 + 187.959 + 196.27 = $722.0 Mil.
Revenue was 222.783 + 224.28 + 222.781 + 232.51 = $902.4 Mil.
Gross Profit was 129.315 + 126.512 + 126.889 + 136.527 = $519.2 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(6812.187 + 7268.145 + 7367.444 + 7779.718 + 7895.527) / 5 = $7424.6042 Mil.
Total Assets at the begining of this year (Jun21) was $6,812.2 Mil.
Long-Term Debt & Capital Lease Obligation was $5,290.7 Mil.
Total Current Assets was $584.6 Mil.
Total Current Liabilities was $618.5 Mil.
Net Income was 16.952 + 44.26 + 62.05 + 76.041 = $199.3 Mil.

Revenue was 166.48 + 178.184 + 190.249 + 216.112 = $751.0 Mil.
Gross Profit was 63.626 + 82.272 + 98.706 + 121.599 = $366.2 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(5163.212 + 5413.351 + 5741.376 + 6223.712 + 6812.187) / 5 = $5870.7676 Mil.
Total Assets at the begining of last year (Jun20) was $5,163.2 Mil.
Long-Term Debt & Capital Lease Obligation was $4,533.7 Mil.
Total Current Assets was $608.3 Mil.
Total Current Liabilities was $688.8 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.

Textainer Group Holdings's current Net Income (TTM) was 307.4. ==> 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.

Textainer Group Holdings's current Cash Flow from Operations (TTM) was 722.0. ==> 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)
=307.43/6812.187
=0.04512941

ROA (Last Year)=Net Income/Total Assets (Jun20)
=199.303/5163.212
=0.03860058

Textainer Group Holdings's return on assets of this year was 0.04512941. Textainer Group Holdings's return on assets of last year was 0.03860058. ==> 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.

Textainer Group Holdings's current Net Income (TTM) was 307.4. Textainer Group Holdings's current Cash Flow from Operations (TTM) was 722.0. ==> 722.0 > 307.4 ==> 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
=5290.744/7424.6042
=0.7125961

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=4533.681/5870.7676
=0.77224672

Textainer Group Holdings's gearing of this year was 0.7125961. Textainer Group Holdings's gearing of last year was 0.77224672. ==> 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: Jun22)=Total Current Assets/Total Current Liabilities
=584.606/618.522
=0.94516606

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=608.265/688.833
=0.88303696

Textainer Group Holdings's current ratio of this year was 0.94516606. Textainer Group Holdings's current ratio of last year was 0.88303696. ==> 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.

Textainer Group Holdings's number of shares in issue this year was 48.305. Textainer Group Holdings's number of shares in issue last year was 50.79. ==> 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
=519.243/902.354
=0.57543159

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=366.203/751.025
=0.48760427

Textainer Group Holdings's gross margin of this year was 0.57543159. Textainer Group Holdings's gross margin of last year was 0.48760427. ==> 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)
=902.354/6812.187
=0.13246172

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=751.025/5163.212
=0.14545694

Textainer Group Holdings's asset turnover of this year was 0.13246172. Textainer Group Holdings's asset turnover of last year was 0.14545694. ==> 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+1+1+1+1+1+1+0
=8

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

Textainer Group Holdings has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Textainer Group Holdings  (NYSE:TGH) 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.


Textainer Group Holdings Piotroski F-Score Related Terms

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Textainer Group Holdings Business Description

Textainer Group Holdings logo
Address
16 Par-La-Ville Road, Century House, Hamilton, BMU, HM 08
Textainer Group Holdings Ltd is an intermodal container leasing company providing customers globally, including international shipping lines and other leases. The firm's operating segments are Container Ownership, Container Management, and Container Resale. Its geographical segments are Asia, Europe, North/South America, and other international countries. Textainer generates the majority of its revenue from lease rental income.

Textainer Group Holdings Headlines

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