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Tegna 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

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

TGNA' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 6   Max: 9
Current: 5

During the past 13 years, the highest Piotroski F-Score of Tegna was 9. The lowest was 1. And the median was 6.


Tegna Piotroski F-Score Historical Data

The historical data trend for Tegna'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.

Tegna 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 4.00 6.00 7.00

Tegna 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 6.00 8.00 7.00 6.00 5.00

Competitive Comparison

For the Broadcasting subindustry, Tegna'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.

   

Tegna Piotroski F-Score Distribution

For the Media - Diversified industry and Communication Services sector, Tegna's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Tegna'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 128.396 + 129.509 + 133.986 + 131.605 = $523 Mil.
Cash Flow from Operations was 146.111 + 159.008 + 196.26 + 195.127 = $697 Mil.
Revenue was 756.487 + 774.647 + 774.123 + 784.881 = $3,090 Mil.
Gross Profit was 356.736 + 367.449 + 362.673 + 364.646 = $1,452 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(6843.095 + 6930.646 + 6917.646 + 6853.745 + 6965.478) / 5 = $6902.122 Mil.
Total Assets at the begining of this year (Jun21) was $6,843 Mil.
Long-Term Debt & Capital Lease Obligation was $3,153 Mil.
Total Current Assets was $885 Mil.
Total Current Liabilities was $371 Mil.
Net Income was 131.99 + 244.442 + 112.545 + 106.551 = $596 Mil.

Revenue was 738.389 + 937.575 + 727.051 + 732.908 = $3,136 Mil.
Gross Profit was 359.204 + 538.208 + 332.359 + 335.79 = $1,566 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(6928.418 + 6944.996 + 6848.699 + 6857.809 + 6843.095) / 5 = $6884.6034 Mil.
Total Assets at the begining of last year (Jun20) was $6,928 Mil.
Long-Term Debt & Capital Lease Obligation was $3,550 Mil.
Total Current Assets was $698 Mil.
Total Current Liabilities was $318 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.

Tegna's current Net Income (TTM) was 523. ==> 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.

Tegna's current Cash Flow from Operations (TTM) was 697. ==> 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)
=523.496/6843.095
=0.07649989

ROA (Last Year)=Net Income/Total Assets (Jun20)
=595.528/6928.418
=0.0859544

Tegna's return on assets of this year was 0.07649989. Tegna's return on assets of last year was 0.0859544. ==> 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.

Tegna's current Net Income (TTM) was 523. Tegna's current Cash Flow from Operations (TTM) was 697. ==> 697 > 523 ==> 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
=3153.044/6902.122
=0.45682241

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=3550.325/6884.6034
=0.51569056

Tegna's gearing of this year was 0.45682241. Tegna's gearing of last year was 0.51569056. ==> 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
=885.377/370.726
=2.38822473

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=698.418/317.812
=2.19758222

Tegna's current ratio of this year was 2.38822473. Tegna's current ratio of last year was 2.19758222. ==> 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.

Tegna's number of shares in issue this year was 224.489. Tegna's number of shares in issue last year was 222.506. ==> 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
=1451.504/3090.138
=0.46972142

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1565.561/3135.923
=0.49923452

Tegna's gross margin of this year was 0.46972142. Tegna's gross margin of last year was 0.49923452. ==> 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 (Jun21)
=3090.138/6843.095
=0.45157023

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=3135.923/6928.418
=0.45261747

Tegna's asset turnover of this year was 0.45157023. Tegna's asset turnover of last year was 0.45261747. ==> 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+1+0+0+0
=5

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

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

Tegna  (NYSE:TGNA) 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.


Tegna Piotroski F-Score Related Terms

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


Tegna Business Description

Tegna logo
Traded in Other Exchanges
Address
8350 Broad Street, Suite 2000, Tysons, VA, USA, 22102-5151
Tegna Inc is a media company with a portfolio of broadcast stations and digital sites. The firm has around 64 television stations and 2 radio stations in approximately 51 U.S markets. The company owns multicast networks of True Crime Network and Quest. It generates key revenue from advertising and marketing services, subscription, political advertising, and other services.
Executives
Kim Soohyung 10 percent owner C/O STANDARD GENERAL L.P. 767 FIFTH AVENUE, 12TH FLOOR NEW YORK NY 10153
Standard General L.p. 10 percent owner 767 FIFTH AVENUE 12TH FLOOR NEW YORK NY 10153
Grimes Karen H. director TOLL BROTHERS, INC. 1140 VIRGINIA DRIVE FORT WASHINGTON PA 19034
Harrison Akinyale S. officer: SVP, General Counsel and Sec. C/O TEGNA INC. 7950 JONES BRANCH DRIVE MCLEAN VA 22107
Bianchini Gina L director 312 WALNUT STREET, SUITE 1800 CINCINNATI OH 45202
Epstein Stuart J. director C/O TEGNA INC. 7950 JONES BRANCH DRIVE MCLEAN VA 22107
Witmer Melinda director C/O TEGNA INC. 7950 JONES BRANCH DRIVE MCLEAN VA 22107
Trelstad Lynn B. officer: EVP and COO - Media Operations C/O TEGNA INC. 7950 JONES BRANCH DRIVE MCLEAN VA 22107
Nolop Bruce P director C/O E*TRADE FINANCIAL CORPORATE SERVICES 135 EAST 57TH STREET NEW YORK NY 10022
Mccune Scott K director C/O GANNETT CO., INC. 7950 JONES BRANCH DRIVE MCLEAN VA 22107
Shapiro Neal director GANNETT CO., INC. 7950 JONES BRANCH DRIVE MCLEAN VA 22107
Ness Susan director C/O ADELPHIA COMMUNICATIONS CORP 5619 DTC PARKWAY EDGEWOOD CO 80111
Elias Howard D director C/O EMC CORPORATION 176 SOUTH STREET HOPKINTON MA 01748
Greenthal Jill A director MARTHA STEWART LIVING OMNIMEDIA INC 11 WEST 42ND STREET 25TH FLOOR NEW YORK NY 10036
Mcgee Henry Wadsworth Iii director 1300 MORRIS DRIVE CHESTERBROOK PA 19087

Tegna Headlines

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