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Liberty Formula One Group Piotroski F-Score

: 6 (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

Liberty Formula One Group 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 Liberty Formula One Group's Piotroski F-Score or its related term are showing as below:

OTCPK:FWONB' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 4   Max: 9
Current: 6

1
9

During the past 11 years, the highest Piotroski F-Score of Liberty Formula One Group was 9. The lowest was 1. And the median was 4.


Liberty Formula One Group Piotroski F-Score Historical Data

The historical data trend for Liberty Formula One Group'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.

Liberty Formula One Group Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 3.00 4.00 5.00 3.00

Liberty Formula One Group Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
Piotroski F-Score 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 Premium Member Only Premium Member Only Premium Member Only 3.00 4.00 3.00 4.00 6.00

Competitive Comparison

For the Broadcasting subindustry, Liberty Formula One Group'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.

   

Liberty Formula One Group Piotroski F-Score Distribution

For the Media - Diversified industry and Communication Services sector, Liberty Formula One Group's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Liberty Formula One Group'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 (Jun21) TTM:Last Year (Jun20) TTM:
Net Income was -95 + 42 + -46 + 55 = $-44 Mil.
Cash Flow from Operations was 1536 + -1576 + 184 + 128 = $272 Mil.
Revenue was 597 + 485 + 180 + 501 = $1,763 Mil.
Gross Profit was 46 + 121 + 96 + 103 = $366 Mil.
Average Total Assets from the begining of this year (Jun20)
to the end of this year (Jun21) was
(11583 + 11231 + 11191 + 12001 + 12029) / 5 = $11607 Mil.
Total Assets at the begining of this year (Jun20) was $11,583 Mil.
Long-Term Debt & Capital Lease Obligation was $3,586 Mil.
Total Current Assets was $2,527 Mil.
Total Current Liabilities was $849 Mil.
Net Income was 41 + -127 + -343 + -200 = $-629 Mil.

Revenue was 633 + 523 + 39 + 24 = $1,219 Mil.
Gross Profit was 199 + 152 + -4 + 8 = $355 Mil.
Average Total Assets from the begining of last year (Jun19)
to the end of last year (Jun20) was
(11298 + 11361 + 11505 + 11362 + 11583) / 5 = $11421.8 Mil.
Total Assets at the begining of last year (Jun19) was $11,298 Mil.
Long-Term Debt & Capital Lease Obligation was $3,672 Mil.
Total Current Assets was $2,577 Mil.
Total Current Liabilities was $912 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.

Liberty Formula One Group's current Net Income (TTM) was -44. ==> 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.

Liberty Formula One Group's current Cash Flow from Operations (TTM) was 272. ==> 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 (Jun20)
=-44/11583
=-0.00379867

ROA (Last Year)=Net Income/Total Assets (Jun19)
=-629/11298
=-0.05567357

Liberty Formula One Group's return on assets of this year was -0.00379867. Liberty Formula One Group's return on assets of last year was -0.05567357. ==> 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.

Liberty Formula One Group's current Net Income (TTM) was -44. Liberty Formula One Group's current Cash Flow from Operations (TTM) was 272. ==> 272 > -44 ==> 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: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=3586/11607
=0.30895149

Gearing (Last Year: Jun20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun19 to Jun20
=3672/11421.8
=0.32149048

Liberty Formula One Group's gearing of this year was 0.30895149. Liberty Formula One Group's gearing of last year was 0.32149048. ==> 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: Jun21)=Total Current Assets/Total Current Liabilities
=2527/849
=2.97644287

Current Ratio (Last Year: Jun20)=Total Current Assets/Total Current Liabilities
=2577/912
=2.82565789

Liberty Formula One Group's current ratio of this year was 2.97644287. Liberty Formula One Group's current ratio of last year was 2.82565789. ==> 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.

Liberty Formula One Group's number of shares in issue this year was 240. Liberty Formula One Group's number of shares in issue last year was 237. ==> 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
=366/1763
=0.20760068

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=355/1219
=0.29122231

Liberty Formula One Group's gross margin of this year was 0.20760068. Liberty Formula One Group's gross margin of last year was 0.29122231. ==> 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 (Jun20)
=1763/11583
=0.15220582

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun19)
=1219/11298
=0.1078952

Liberty Formula One Group's asset turnover of this year was 0.15220582. Liberty Formula One Group's asset turnover of last year was 0.1078952. ==> 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+1+1+0+0+1
=6

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

Liberty Formula One Group has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Liberty Formula One Group  (OTCPK:FWONB) 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.


Liberty Formula One Group Piotroski F-Score Related Terms

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Liberty Formula One Group Business Description

Liberty Formula One Group logo
Industry
Address
12300 Liberty Boulevard, Englewood, CO, USA, 80112
Liberty Formula One Group controls the exclusive commercial and promotional rights to the FIA Formula One World Championship series, and the monetization of those rights is the primary business of the group. The firm is responsible for development and promotion of the Formula One race series in concert with its three partners: the FIA (the regulatory body), the teams that participate in the series, and the series' commercial partners, which include the race promoters, broadcasters, sponsors, and advertisers. Formula One Group is a subsidiary of Liberty Media Corporation, which purchased the firm in January 2017. Formula One stock is a tracking stock for the assets under Formula One Group with Liberty Media.

Liberty Formula One Group Headlines

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