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Empire Co (Empire Co) Piotroski F-Score : 7 (As of Apr. 25, 2024)


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What is Empire Co Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, 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

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

EMLAF' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 7

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


Empire Co Piotroski F-Score Historical Data

The historical data trend for Empire Co'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.

Empire Co Piotroski F-Score Chart

Empire Co Annual Data
Trend Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 Apr20 Apr21 Apr22 Apr23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 6.00 6.00 7.00 7.00

Empire Co Quarterly Data
Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24
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 Premium Member Only Premium Member Only 5.00 7.00 7.00 6.00 7.00

Competitive Comparison of Empire Co's Piotroski F-Score

For the Grocery Stores subindustry, Empire Co'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.


Empire Co's Piotroski F-Score Distribution in the Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, Empire Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Empire Co'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 (Jan24) TTM:Last Year (Jan23) TTM:
Net Income was 135.642 + 197.563 + 132.074 + 99.978 = $565 Mil.
Cash Flow from Operations was 374.221 + 445.235 + 190.198 + 498.249 = $1,508 Mil.
Revenue was 5494.215 + 6112.709 + 5652.859 + 5583.253 = $22,843 Mil.
Gross Profit was 1452.833 + 1570.282 + 1461.129 + 1480.519 = $5,965 Mil.
Average Total Assets from the begining of this year (Jan23)
to the end of this year (Jan24) was
(12185.442 + 12224.637 + 12498.6 + 11993.218 + 12298.294) / 5 = $12240.0382 Mil.
Total Assets at the begining of this year (Jan23) was $12,185 Mil.
Long-Term Debt & Capital Lease Obligation was $4,903 Mil.
Total Current Assets was $2,190 Mil.
Total Current Liabilities was $2,746 Mil.
Net Income was 141.353 + 144.944 + 138.725 + 93.652 = $519 Mil.

Revenue was 6209.059 + 6136.054 + 5583.169 + 5579.869 = $23,508 Mil.
Gross Profit was 1586.95 + 1528.989 + 1428.3 + 1416.033 = $5,960 Mil.
Average Total Assets from the begining of last year (Jan22)
to the end of last year (Jan23) was
(13019.965 + 13140.323 + 12602.041 + 12225.29 + 12185.442) / 5 = $12634.6122 Mil.
Total Assets at the begining of last year (Jan22) was $13,020 Mil.
Long-Term Debt & Capital Lease Obligation was $4,889 Mil.
Total Current Assets was $2,186 Mil.
Total Current Liabilities was $2,773 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.

Empire Co's current Net Income (TTM) was 565. ==> 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.

Empire Co's current Cash Flow from Operations (TTM) was 1,508. ==> 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 (Jan23)
=565.257/12185.442
=0.04638789

ROA (Last Year)=Net Income/Total Assets (Jan22)
=518.674/13019.965
=0.03983682

Empire Co's return on assets of this year was 0.04638789. Empire Co's return on assets of last year was 0.03983682. ==> 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.

Empire Co's current Net Income (TTM) was 565. Empire Co's current Cash Flow from Operations (TTM) was 1,508. ==> 1,508 > 565 ==> 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: Jan24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jan23 to Jan24
=4902.928/12240.0382
=0.40056476

Gearing (Last Year: Jan23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jan22 to Jan23
=4889.063/12634.6122
=0.3869579

Empire Co's gearing of this year was 0.40056476. Empire Co's gearing of last year was 0.3869579. ==> 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: Jan24)=Total Current Assets/Total Current Liabilities
=2190.345/2746.48
=0.7975099

Current Ratio (Last Year: Jan23)=Total Current Assets/Total Current Liabilities
=2186.485/2773.357
=0.78838931

Empire Co's current ratio of this year was 0.7975099. Empire Co's current ratio of last year was 0.78838931. ==> 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.

Empire Co's number of shares in issue this year was 246.808. Empire Co's number of shares in issue last year was 258.41. ==> 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
=5964.763/22843.036
=0.26111954

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=5960.272/23508.151
=0.25354065

Empire Co's gross margin of this year was 0.26111954. Empire Co's gross margin of last year was 0.25354065. ==> 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 (Jan23)
=22843.036/12185.442
=1.87461694

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jan22)
=23508.151/13019.965
=1.80554641

Empire Co's asset turnover of this year was 1.87461694. Empire Co's asset turnover of last year was 1.80554641. ==> 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
=1+1+1+1+0+1+1+1+1
=8

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

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

Empire Co  (OTCPK:EMLAF) 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.


Empire Co Piotroski F-Score Related Terms

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Empire Co (Empire Co) Business Description

Traded in Other Exchanges
Address
115 King Street, Stellarton, NS, CAN, B0K 1S0
Empire Co Ltd key businesses are food retailing, investments, and other operations. The food retailing division operates through Empire's subsidiary Sobeys and represents nearly all of the company's income. This segment owns, affiliates, or franchises more than 1,500 stores in 10 provinces, under retail banners including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Lawton's Drug Stores, and multiple retail fuel locations. The company's investment and other operations segment include the investment in Crombie REIT, which is an open-ended Canadian real estate investment trust, as well as the Genstar Development Partnership.

Empire Co (Empire Co) Headlines

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