Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Jeffersonville Bancorp 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 Jeffersonville Bancorp's Piotroski F-Score or its related term are showing as below:
Jeffersonville Bancorp Piotroski F-Score Historical Data
The historical data trend for Jeffersonville Bancorp'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.
* 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.
*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.
Jeffersonville Bancorp's current Net Income (TTM) was 9.30.
==> 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.
Jeffersonville Bancorp's current Cash Flow from Operations (TTM) was 10.28.
==> 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.
Jeffersonville Bancorp's return on assets of this year was 0.01319963. Jeffersonville Bancorp's return on assets of last year was 0.00964002.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Jeffersonville Bancorp's gearing of this year was 0.00061092. Jeffersonville Bancorp's gearing of last year was 0.00075825.
==> 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
* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.
Jeffersonville Bancorp's current ratio of this year was 1.11018252. Jeffersonville Bancorp's current ratio of last year was 1.12635787.
==> 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.
Jeffersonville Bancorp's number of shares in issue this year was 4.235. Jeffersonville Bancorp's number of shares in issue last year was 4.235.
==> 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.
* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.
Jeffersonville Bancorp's net margin of this year was 0.34349849. Jeffersonville Bancorp's net margin of last year was 0.25949533.
==> This year's net 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
Jeffersonville Bancorp's asset turnover of this year was 0.03842705. Jeffersonville Bancorp's asset turnover of last year was 0.03714912.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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8
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Jeffersonville Bancorp has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
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.
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.
Jeffersonville Bancorp Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Jeffersonville Bancorp's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Jeffersonville Bancorp (Jeffersonville Bancorp) Business Description
Jeffersonville Bancorp is a bank holding company whose principal activity is the ownership of all outstanding shares of the Bank's stock. The Bank is a commercial bank providing community banking services to individuals, small businesses, and local municipal governments in Sullivan County, New York. The services and products include personal checking, business checking, debit cards, credit cards, mortgages, personal loans, business loans, personal and business savings, mobile banking, and business services among others.
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