WGL has been successfully added to your Stock Email Alerts list.
You can manage your stock email alerts here.
WGL has been removed from your Stock Email Alerts list.
Please enter Portfolio Name for new portfolio.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
WGL Holdings 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 WGL Holdings's Piotroski F-Score or its related term are showing as below:
The historical data trend for WGL 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.
WGL Holdings Annual Data | |||||||||||||||||||||
Trend | Sep08 | Sep09 | Sep10 | Sep11 | Sep12 | Sep13 | Sep14 | Sep15 | Sep16 | Sep17 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 4.00 | 6.00 | 6.00 | 6.00 | 5.00 |
WGL Holdings Quarterly Data | ||||||||||||||||||||
Jun13 | Sep13 | Dec13 | Mar14 | Jun14 | Sep14 | Dec14 | Mar15 | Jun15 | Sep15 | Dec15 | Mar16 | Jun16 | Sep16 | Dec16 | Mar17 | Jun17 | Sep17 | Dec17 | Mar18 | |
Piotroski F-Score | Get a 7-Day Free Trial | 5.00 | 5.00 | 5.00 | 6.00 | 6.00 |
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 (Mar18) TTM: | Last Year (Mar17) TTM: |
Net Income was 8.595 + 3.649 + 138.37 + 135.88 = $286 Mil. Cash Flow from Operations was 129.912 + 5.843 + -6.711 + 371.094 = $500 Mil. Revenue was 474.364 + 429.123 + 652.44 + 886.451 = $2,442 Mil. Gross Profit was 93.981 + 86.063 + 202.439 + 289.934 = $672 Mil. Average Total Assets from the begining of this year (Mar17) to the end of this year (Mar18) was (6409.735 + 6373.493 + 6626.009 + 7062.574 + 6846.826) / 5 = $6663.7274 Mil. Total Assets at the begining of this year (Mar17) was $6,410 Mil. Long-Term Debt & Capital Lease Obligation was $1,879 Mil. Total Current Assets was $1,021 Mil. Total Current Liabilities was $1,154 Mil. |
Net Income was 2.355 + -8.56 + 58.302 + 123.394 = $175 Mil. Revenue was 440.587 + 459.899 + 609.487 + 841.75 = $2,352 Mil. Gross Profit was 79.507 + 55.576 + 180.384 + 287.251 = $603 Mil. Average Total Assets from the begining of last year (Mar16) to the end of last year (Mar17) was (5659.565 + 5742.813 + 6049.45 + 6475.39 + 6409.735) / 5 = $6067.3906 Mil. Total Assets at the begining of last year (Mar16) was $5,660 Mil. Long-Term Debt & Capital Lease Obligation was $1,235 Mil. Total Current Assets was $1,004 Mil. Total Current Liabilities was $1,432 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.
WGL Holdings's current Net Income (TTM) was 286.
==> 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.
WGL Holdings's current Cash Flow from Operations (TTM) was 500.
==> 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 (Mar17) |
= | 286.494 | / | 6409.735 | |
= | 0.0446967 |
ROA (Last Year) | = | Net Income | / | Total Assets (Mar16) |
= | 175.491 | / | 5659.565 | |
= | 0.03100786 |
WGL Holdings's return on assets of this year was 0.0446967. WGL Holdings's return on assets of last year was 0.03100786.
==> 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.
WGL Holdings's current Net Income (TTM) was 286. WGL Holdings's current Cash Flow from Operations (TTM) was 500.
==> 500 > 286 ==> 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: Mar18) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Mar17 to Mar18 |
= | 1879.304 | / | 6663.7274 | |
= | 0.28201994 |
Gearing (Last Year: Mar17) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Mar16 to Mar17 |
= | 1235.432 | / | 6067.3906 | |
= | 0.20361834 |
WGL Holdings's gearing of this year was 0.28201994. WGL Holdings's gearing of last year was 0.20361834.
==> 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: Mar18) | = | Total Current Assets | / | Total Current Liabilities |
= | 1021.024 | / | 1153.797 | |
= | 0.88492516 |
Current Ratio (Last Year: Mar17) | = | Total Current Assets | / | Total Current Liabilities |
= | 1004.359 | / | 1432.119 | |
= | 0.70130974 |
WGL Holdings's current ratio of this year was 0.88492516. WGL Holdings's current ratio of last year was 0.70130974.
==> 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.
WGL Holdings's number of shares in issue this year was 51.577. WGL Holdings's number of shares in issue last year was 51.476.
==> 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 |
= | 672.417 | / | 2442.378 | |
= | 0.27531242 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 602.718 | / | 2351.723 | |
= | 0.25628784 |
WGL Holdings's gross margin of this year was 0.27531242. WGL Holdings's gross margin of last year was 0.25628784.
==> 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 (Mar17) |
= | 2442.378 | / | 6409.735 | |
= | 0.38104196 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Mar16) |
= | 2351.723 | / | 5659.565 | |
= | 0.4155307 |
WGL Holdings's asset turnover of this year was 0.38104196. WGL Holdings's asset turnover of last year was 0.4155307.
==> 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 | + | 0 | + | 1 | + | 0 | + | 1 | + | 0 | |
= | 6 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
WGL Holdings has an F-score of 6 indicating the company's financial situation is typical for a stable company.
WGL Holdings (NYSE:WGL) 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.
Thank you for viewing the detailed overview of WGL Holdings's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Karen Hardwick | officer: Senior Vice President and GC | 1000 MAINE AVENUE, SW, WASHINGTON DC 20024 |
Dorothy Ramsey | officer: Vice President | 1000 MAINE AVENUE, SW, WASHINGTON DC 20024 |
Linda R Gooden | director | LOCKHEED MARTIN CORPORATION, 6801 ROCKLEDGE DRIVE, BETHESDA MD 20817 |
Leslie T Thornton | officer: Senior VP, GC and Corp. Sec. | 3921 COURTLAND CIRCLE, ALEXANDRIA VA 22305 |
David M Harris | director | 101 CONSTITUTION AVENUE, NW, WASHINGTON DC 20080 |
Debra L Lee | director | C/O BLACK ENTERTAINMENT, 1 BET PLZ. 1900W PLACE N.W., WASHINGTON DC 20018 |
Terry D Mccallister | director, officer: Chairman and CEO | 1100 H ST NW, WASHINGTON DC 20080 |
James F Lafond | director | 4401 GULF SHORE BLVD NORTH, UNIT 103, NAPLES FL 34103 |
Clancy George Patrick Jr | director | 1100 H ST NW, WASHINGTON DC 20080 |
Stephen C Beasley | director | THE WILLIAMS COMPANIES, ONCE WILLIAMS CENTER, SUITE 4700, TULSA OK 77002 |
Diane J Hoskins | director | 101 CONSTITUTION AVENUE, NW, WASHINGTON DC 20080 |
Karen Hastie Williams | director | GANNETT CO INC, 7950 JONES BRANCH DRIVE, MCLEAN VA 22107 |
Degraffenreidt James H Jr | other: Former Chairman and CEO | 1100 H ST NW, WASHINGTON DC 20080 |
Philip A Odeen | director | N/A, N/A OH 45202 |
From GuruFocus
By GuruFocus Research GuruFocus Editor • 12-15-2009
By GuruFocus Research GuruFocus Editor • 04-29-2010
By gurufocus 10qk • 02-07-2011
By Dividend Dividend • 06-04-2013
By GuruFocus Research GuruFocus Editor • 05-04-2010
By GuruFocus Research GuruFocus Editor • 12-15-2009
By GuruFocus Research GuruFocus Editor • 08-11-2010
By GuruFocus Research GuruFocus Editor • 08-10-2010
By Dividends4Life Dividends4Life • 07-09-2014
By GuruFocus Research GuruFocus Editor • 07-27-2010
Disclaimers: GuruFocus.com is not operated by a broker or a dealer. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. This investment adviser does not provide advice to individual investors. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.