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Clear Secure Piotroski F-Score

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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

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

During the past 3 years, the highest Piotroski F-Score of Clear Secure was 9999. The lowest was 5. And the median was 5.


Clear Secure Piotroski F-Score Historical Data

The historical data trend for Clear Secure'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.

Clear Secure Annual Data
Trend Dec19 Dec20 Dec21
Piotroski F-Score
N/A N/A 5.00

Clear Secure Quarterly Data
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 N/A N/A 5.00 N/A N/A

Competitive Comparison

For the Software - Application subindustry, Clear Secure'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.

   

Clear Secure Piotroski F-Score Distribution

For the Software industry and Technology sector, Clear Secure's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Clear Secure'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 -16.915 + -17.163 + -10.327 + -7.155 = $-51.6 Mil.
Cash Flow from Operations was 34.893 + 31.73 + 24.932 + 50.923 = $142.5 Mil.
Revenue was 67.558 + 80.659 + 90.539 + 102.723 = $341.5 Mil.
Gross Profit was 39.504 + 47.831 + 55.417 + 65.097 = $207.8 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(303.795 + 773.226 + 812.75 + 854.055 + 893.876) / 5 = $727.5404 Mil.
Total Assets at the begining of this year (Jun21) was $303.8 Mil.
Long-Term Debt & Capital Lease Obligation was $24.3 Mil.
Total Current Assets was $702.6 Mil.
Total Current Liabilities was $332.0 Mil.
Net Income was 11.143 + 8.454 + -13.128 + -2.004 = $4.5 Mil.

Revenue was 56.375 + 53.155 + 50.558 + 55.178 = $215.3 Mil.
Gross Profit was 40.326 + 36.651 + 30.64 + 31.042 = $138.7 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(0 + 0 + 232.268 + 301.502 + 303.795) / 5 = $279.18833333 Mil.
Total Assets at the begining of last year (Jun20) was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 Mil.
Total Current Assets was $233.6 Mil.
Total Current Liabilities was $163.4 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.

Clear Secure's current Net Income (TTM) was -51.6. ==> Negative ==> Score 0.

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.

Clear Secure's current Cash Flow from Operations (TTM) was 142.5. ==> 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)
=-51.56/303.795
=-0.16971971

ROA (Last Year)=Net Income/Total Assets (Jun20)
=4.465/0
=

Clear Secure's return on assets of this year was -0.16971971. Clear Secure's return on assets of last year was . ==> 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.

Clear Secure's current Net Income (TTM) was -51.6. Clear Secure's current Cash Flow from Operations (TTM) was 142.5. ==> 142.5 > -51.6 ==> 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
=24.277/727.5404
=0.03336859

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=0/279.18833333
=0

Clear Secure's gearing of this year was 0.03336859. Clear Secure's gearing of last year was 0. ==> 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: Jun22)=Total Current Assets/Total Current Liabilities
=702.585/331.98
=2.11634737

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=233.559/163.381
=1.42953587

Clear Secure's current ratio of this year was 2.11634737. Clear Secure's current ratio of last year was 1.42953587. ==> 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.

Clear Secure's number of shares in issue this year was 79.42. Clear Secure's number of shares in issue last year was 57.372. ==> 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
=207.849/341.479
=0.60867286

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=138.659/215.266
=0.64412866

Clear Secure's gross margin of this year was 0.60867286. Clear Secure's gross margin of last year was 0.64412866. ==> 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)
=341.479/303.795
=1.12404417

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=215.266/0
=

Clear Secure's asset turnover of this year was 1.12404417. Clear Secure's asset turnover of last year was . ==> 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
=0+1+1+1+0+1+0+0+1
=5

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

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

Clear Secure  (NYSE:YOU) 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.


Clear Secure Piotroski F-Score Related Terms

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


Clear Secure Business Description

Clear Secure logo
Traded in Other Exchanges
N/A
Address
65 East 55th Street, 17th Floor, New York, NY, USA, 10022
Clear Secure Inc is involved in the creation of a frictionless travel experience while enhancing security. Its secure identity platform uses biometrics to automate the identity verification process through lanes in airports which helps to make the travel experience safe and easy.
Executives
Liu Dennis W. officer: Chief Accounting Officer 65 EAST 55TH STREET, 17TH FLOOR NEW YORK NY 10022
General Atlantic (alc), L.p. 10 percent owner C/O GENERAL ATLANTIC SERVICE CO., L.P. 55 EAST 52ND STREET, 33RD FLOOR NEW YORK NY 10055
General Atlantic (lux) S.a R.l. 10 percent owner 412F ROUTE D'ESCH LUXEMBOURG P7 10055
General Atlantic Partners (lux), Scsp 10 percent owner 55 EAST 52ND STREET FLOOR 33 NEW YORK NY 10055
General Atlantic Genpar (lux) Scsp 10 percent owner 412F ROUTE D'ESCH LUXEMBOURG N4 2086
General Atlantic Partners (bermuda) Eu, L.p. 10 percent owner C/O GENERAL ATLANTIC SERVICE COMPANY LP 55 EAST 52ND STREET, 33RD FLOOR NEW YORK NY 10055
Gap (bermuda) L.p. 10 percent owner C/O GENERAL ATLANTIC SERVICE COMPANY 55 EAST 52ND ST. 32ND FLOOR NEW YORK NY 10055
General Atlantic Genpar (bermuda), L.p. 10 percent owner C/O GENERAL ATLANTIC SERVICE COMPANY,LLC 55 EAST 52ND ST. 32ND FLOOR NEW YORK NY 10055
General Atlantic Partners 100, L.p. 10 percent owner C/O GENERAL ATLANTIC SERVICE COMPANY,LP 55 EAST 52ND STREET, 33RD FLOOR NEW YORK NY 10055
Perrin Walter Catesby Iii officer: EVP, Growth 65 EAST 55TH STREET, 17TH FLOOR NEW YORK NY 10022
Comella Maria A. officer: Head of Public Affairs 65 EAST 55TH STREET, 17TH FLOOR NEW YORK NY 10022
Cornick Kenneth L. director, 10 percent owner, officer: President & CFO 65 EAST 55TH STREET, 17TH FLOOR NEW YORK NY 10022
Jouhal Chiranjiv S. officer: Chief Technology Officer 65 EAST 55TH STREET, 17TH FLOOR NEW YORK NY 10022
Levine Matthew officer: GC & Chief Privacy Officer 65 EAST 55TH STREET, 17TH FLOOR NEW YORK NY 10022
Patterson Richard N. Jr. officer: Chief Info Sec. Officer 65 EAST 55TH STREET, 17TH FLOOR NEW YORK NY 10022

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