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Epsilon Energy (Epsilon Energy) Piotroski F-Score

: 4 (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

Epsilon Energy has an F-score of 4 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Epsilon Energy's Piotroski F-Score or its related term are showing as below:

EPSN' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 7   Max: 9
Current: 4

During the past 13 years, the highest Piotroski F-Score of Epsilon Energy was 9. The lowest was 4. And the median was 7.


Epsilon Energy Piotroski F-Score Historical Data

The historical data trend for Epsilon Energy'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.

Epsilon Energy Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 6.00 9.00 9.00 4.00

Epsilon Energy Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 9.00 8.00 5.00 5.00 4.00

Competitive Comparison

For the Oil & Gas E&P subindustry, Epsilon Energy'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.


Epsilon Energy Piotroski F-Score Distribution

For the Oil & Gas industry and Energy sector, Epsilon Energy's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Epsilon Energy'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 (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was 3.53 + 0.431 + 0.389 + 2.596 = $6.95 Mil.
Cash Flow from Operations was 7.578 + 2.624 + 4.155 + 3.831 = $18.19 Mil.
Revenue was 9.356 + 6.5 + 6.311 + 8.563 = $30.73 Mil.
Gross Profit was 5.528 + 2.873 + 2.727 + 3.052 = $14.18 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(123.862 + 124.825 + 121.154 + 119.775 + 124.043) / 5 = $122.7318 Mil.
Total Assets at the begining of this year (Dec22) was $123.86 Mil.
Long-Term Debt & Capital Lease Obligation was $0.48 Mil.
Total Current Assets was $41.13 Mil.
Total Current Liabilities was $7.90 Mil.
Net Income was 5.806 + 10.583 + 9.608 + 9.357 = $35.35 Mil.

Revenue was 13.6 + 19.903 + 21.244 + 15.216 = $69.96 Mil.
Gross Profit was 10.281 + 15.306 + 16.913 + 11.608 = $54.11 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(99.463 + 106.067 + 110.8 + 119.815 + 123.862) / 5 = $112.0014 Mil.
Total Assets at the begining of last year (Dec21) was $99.46 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Total Current Assets was $55.46 Mil.
Total Current Liabilities was $6.22 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.

Epsilon Energy's current Net Income (TTM) was 6.95. ==> 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.

Epsilon Energy's current Cash Flow from Operations (TTM) was 18.19. ==> 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 (Dec22)
=6.946/123.862
=0.05607854

ROA (Last Year)=Net Income/Total Assets (Dec21)
=35.354/99.463
=0.35544876

Epsilon Energy's return on assets of this year was 0.05607854. Epsilon Energy's return on assets of last year was 0.35544876. ==> 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.

Epsilon Energy's current Net Income (TTM) was 6.95. Epsilon Energy's current Cash Flow from Operations (TTM) was 18.19. ==> 18.19 > 6.95 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=0.477/122.7318
=0.00388652

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=0/112.0014
=0

Epsilon Energy's gearing of this year was 0.00388652. Epsilon Energy'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: Dec23)=Total Current Assets/Total Current Liabilities
=41.129/7.896
=5.20883992

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=55.464/6.219
=8.91847564

Epsilon Energy's current ratio of this year was 5.20883992. Epsilon Energy's current ratio of last year was 8.91847564. ==> 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.

Epsilon Energy's number of shares in issue this year was 22.152. Epsilon Energy's number of shares in issue last year was 23.051. ==> 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
=14.18/30.73
=0.46143833

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=54.108/69.963
=0.77338022

Epsilon Energy's gross margin of this year was 0.46143833. Epsilon Energy's gross margin of last year was 0.77338022. ==> 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 (Dec22)
=30.73/123.862
=0.24809869

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=69.963/99.463
=0.7034073

Epsilon Energy's asset turnover of this year was 0.24809869. Epsilon Energy's asset turnover of last year was 0.7034073. ==> 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+0+0+1+0+0
=4

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

Epsilon Energy has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Epsilon Energy  (NAS:EPSN) 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.


Epsilon Energy Piotroski F-Score Related Terms

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Epsilon Energy (Epsilon Energy) Business Description

Traded in Other Exchanges
N/A
Address
500 Dallas Street, Suite 1250, Houston, TX, USA, 77002
Epsilon Energy Ltd is engaged in the acquisition, development, gathering, and production of natural gas and oil reserves. The operating segments of the company include Upstream segment activities include acquisition, development, and production of natural gas reserves on properties within the United States. The Gas Gathering segment partners with two other companies to operate a natural gas gathering system, and the corporate segment activities include corporate listing and governance functions of the corporation. The company generates revenue from the sale of crude oil and natural gas.
Executives
Jason Stabell director, officer: Chief Executive Officer 16945 NORTHCHASE DR., SUITE 1610, HOUSTON TX 77060
Solas Capital Management, Llc 10 percent owner 1063 POST ROAD, 2ND FLOOR, DARIEN CT 06820
Jason Stankowski director 3160 COLLEGE AVE, SUITE 203, BERKELEY CA 94705
Nicola L Maddox director 6331 CONCHO BAY DR, HOUSTON TX 77041
Andrew Williamson officer: Chief Financial Officer 16945 NORTHCHASE DR., SUITE 1610, HOUSTON TX 77060
John Lovoi director 3505 W SAM HOUSTON PKWY NORTH, SUITE 400, HOUSTON TX 77043
David W Winn director 5217 HOLLY ST., BELLAIRE TX 77401
Tucker Golden Frederick 10 percent owner C/O SOLAS CAPITAL MANAGEMENT, LLC, 1063 POST ROAD, 2ND FLOOR, DARIEN CT 06820
Bruce Lane Bond officer: Chief Financial Officer 6206 CORAL RIDGE RD., HOUSTON TX 77069
Stephen Finlayson director 3621 TIMBERSIDE CIRCLE DR., HOUSTON TX 77025
Ryan Roebuck director 16701 GREENSPOINT PARK DR., SUITE 195, HOUSTON TX 77060
Oakview Capital Management, L.p. 10 percent owner 3879 MAPLE AVE., SUITE 300, DALLAS TX 75219
Azvalor Asset Management Sgiic Sa 10 percent owner PASEO DE LA CASTELLANA 110, MADRID U3 28046
Matthew Dougherty director 180 N. STETSON AVE, SUITE 5500, CHICAGO IL 60601
Adrian Montgomery director 16701 GREENSPOINT PARK DRIVE, SUITE 195, HOUSTON TX 77060

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