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OPAD (Offerpad Solutions) Piotroski F-Score : 5 (As of Dec. 15, 2024)


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What is Offerpad Solutions Piotroski F-Score?

The zones of discrimination were as such:

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

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

OPAD' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 4   Max: 5
Current: 5

During the past 5 years, the highest Piotroski F-Score of Offerpad Solutions was 5. The lowest was 3. And the median was 4.


Offerpad Solutions Piotroski F-Score Historical Data

The historical data trend for Offerpad Solutions'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.

Offerpad Solutions Piotroski F-Score Chart

Offerpad Solutions Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
N/A N/A N/A 3.00 5.00

Offerpad Solutions Quarterly Data
Dec19 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Piotroski F-Score Get a 7-Day Free Trial 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 5.00 3.00 3.00 5.00

Competitive Comparison of Offerpad Solutions's Piotroski F-Score

For the Real Estate Services subindustry, Offerpad Solutions'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.


Offerpad Solutions's Piotroski F-Score Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Offerpad Solutions's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Offerpad Solutions'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 (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was -15.441 + -17.515 + -13.782 + -13.537 = $-60.3 Mil.
Cash Flow from Operations was -15.323 + 2.386 + -54.385 + 39.595 = $-27.7 Mil.
Revenue was 240.458 + 285.358 + 251.122 + 208.067 = $985.0 Mil.
Gross Profit was 16.692 + 22.595 + 21.871 + 17.14 = $78.3 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(422.147 + 379.694 + 369.726 + 406.625 + 338.488) / 5 = $383.336 Mil.
Total Assets at the begining of this year (Sep23) was $422.1 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 Mil.
Total Current Assets was $323.0 Mil.
Total Current Liabilities was $263.5 Mil.
Net Income was -121.137 + -59.447 + -22.344 + -19.986 = $-222.9 Mil.

Revenue was 677.214 + 609.579 + 230.147 + 234.228 = $1,751.2 Mil.
Gross Profit was -44.86 + 7.285 + 22.231 + 23.973 = $8.6 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(1437.6 + 825.069 + 337.952 + 353.101 + 422.147) / 5 = $675.1738 Mil.
Total Assets at the begining of last year (Sep22) was $1,437.6 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 Mil.
Total Current Assets was $413.3 Mil.
Total Current Liabilities was $304.6 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.

Offerpad Solutions's current Net Income (TTM) was -60.3. ==> 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.

Offerpad Solutions's current Cash Flow from Operations (TTM) was -27.7. ==> Negative ==> Score 0.

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 (Sep23)
=-60.275/422.147
=-0.14278202

ROA (Last Year)=Net Income/Total Assets (Sep22)
=-222.914/1437.6
=-0.15505982

Offerpad Solutions's return on assets of this year was -0.14278202. Offerpad Solutions's return on assets of last year was -0.15505982. ==> 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.

Offerpad Solutions's current Net Income (TTM) was -60.3. Offerpad Solutions's current Cash Flow from Operations (TTM) was -27.7. ==> -27.7 > -60.3 ==> 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: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=0/383.336
=0

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=0/675.1738
=0

Offerpad Solutions's gearing of this year was 0. Offerpad Solutions's gearing of last year was 0. ==> 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: Sep24)=Total Current Assets/Total Current Liabilities
=323.04/263.499
=1.22596291

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=413.343/304.599
=1.35700708

Offerpad Solutions's current ratio of this year was 1.22596291. Offerpad Solutions's current ratio of last year was 1.35700708. ==> Last year's current ratio is higher ==> Score 0.

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.

Offerpad Solutions's number of shares in issue this year was 27.439. Offerpad Solutions's number of shares in issue last year was 27.276. ==> 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
=78.298/985.005
=0.07948995

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=8.629/1751.168
=0.00492757

Offerpad Solutions's gross margin of this year was 0.07948995. Offerpad Solutions's gross margin of last year was 0.00492757. ==> 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 (Sep23)
=985.005/422.147
=2.33332228

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=1751.168/1437.6
=1.21811909

Offerpad Solutions's asset turnover of this year was 2.33332228. Offerpad Solutions's asset turnover of last year was 1.21811909. ==> 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+0+1+1+1+0+0+1+1
=5

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

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

Offerpad Solutions  (NYSE:OPAD) 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.


Offerpad Solutions Piotroski F-Score Related Terms

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Offerpad Solutions Business Description

Traded in Other Exchanges
N/A
Address
2150 E. Germann Road, Suite 1, Chandler, AZ, USA, 85286
Offerpad Solutions Inc provides a way to buy and sell a home. It uses technology-enabled solutions to remake the home selling and buying experience by offering customers the convenience, control, and certainty to solve their housing needs. It combines fundamental real estate expertise with the data-driven digital Solutions Center platform to efficiently sell and buy their homes online with streamlined access to other services including mortgage, listing, renovation and buyer representation services.
Executives
Roberto Marco Sella director 2400 MARKET STREET, SUITE 302, PHILADELPHIA PA 19103
Brian Bair director, officer: Chief Executive Officer C/O OFFERPAD SOLUTIONS INC., 2150 E GERMAN ROAD, SUITE 1, CHANDLER AZ 85286
Jawad A Ahsan officer: Chief Financial Officer 17800 N 85TH ST, SCOTTSDALE AZ 85255
Kenneth D Degiorgio director
Ryan Ohara director 6922 HOLLYWOOD BLVD., 12TH FL, LOS ANGELES CA 90028
Stephen Michael Johnson officer: Chief Operating Officer C/O OFFERPAD SOLUTIONS INC., 2150 E GERMAN ROAD, SUITE 1, CHANDLER AZ 85286
Benjamin Adam Aronovitch officer: Chief Legal Officer C/O OFFERPAD SOLUTIONS INC., 2150 E GERMAN ROAD, SUITE 1, CHANDLER AZ 85286
Katherine Curnutte director 4301 50TH STREET, N.W., SUITE 300, PMB 1044, WASHINGTON DC 20007
Ll Capital Partners I, L.p. 10 percent owner C/O LL FUNDS, LLC, 2400 MARKET STREET, SUITE 302, PHILADELPHIA PA 19103
Michael S. Burnett officer: Chief Financial Officer 8601 NORTH SCOTTSDALE ROAD, SUITE 225, SCOTTSDALE AZ 85253
First American Financial Corp 10 percent owner 1 FIRST AMERICAN WAY, SANTA ANA CA 92707
Sheryl Palmer director 4900 N. SCOTTSDALE ROAD, SUITE 2000, SCOTTSDALE AZ 85251
Supernova Partners Llc 10 percent owner 4520 DEXTER STREET, N.W., WASHINGTON DC 20007
Michael S. Clifton officer: Chief Financial Officer C/O SUPERNOVA PARTNERS ACQUISITION CO., 4520 DEXTER STREET, N.W., WASHINGTON DC 20007
Gregg Renfrew director C/O SUPERNOVA PARTNERS ACQUISITION CO., 4520 DEXTER STREET, N.W., WASHINGTON DC 20007