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Mad Catz Interactive Piotroski F-Score

: 0 (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

Mad Catz Interactive has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

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


Mad Catz Interactive Piotroski F-Score Historical Data

The historical data trend for Mad Catz Interactive'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.

Mad Catz Interactive Annual Data
Trend Mar07 Mar08 Mar09 Mar10 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.00 6.00 4.00 6.00 2.00

Mad Catz Interactive Quarterly Data
Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16
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 4.00 2.00 4.00 3.00 3.00

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 (Dec16) TTM:Last Year (Dec15) TTM:
Net Income was -7.263 + -4.793 + 4.08 + -3.461 = $-11.44 Mil.
Cash Flow from Operations was 5.49 + 3.823 + -10.168 + 1.236 = $0.38 Mil.
Revenue was 17.144 + 10.788 + 14.867 + 19.061 = $61.86 Mil.
Gross Profit was -0.873 + -0.104 + 0.528 + 1.295 = $0.85 Mil.
Average Total Assets from the begining of this year (Dec15)
to the end of this year (Dec16) was
(83.299 + 55.003 + 42.384 + 40.085 + 41.788) / 5 = $52.5118 Mil.
Total Assets at the begining of this year (Dec15) was $83.30 Mil.
Long-Term Debt & Capital Lease Obligation was $2.93 Mil.
Total Current Assets was $29.90 Mil.
Total Current Liabilities was $40.88 Mil.
Net Income was 5.556 + -3.965 + -1.611 + 1.219 = $1.20 Mil.

Revenue was 16.558 + 12.974 + 38.918 + 65.038 = $133.49 Mil.
Gross Profit was 3.872 + 2.878 + 9.006 + 11.405 = $27.16 Mil.
Average Total Assets from the begining of last year (Dec14)
to the end of last year (Dec15) was
(49.008 + 47.492 + 44.675 + 87.178 + 83.299) / 5 = $62.3304 Mil.
Total Assets at the begining of last year (Dec14) was $49.01 Mil.
Long-Term Debt & Capital Lease Obligation was $0.16 Mil.
Total Current Assets was $69.05 Mil.
Total Current Liabilities was $69.80 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.

Mad Catz Interactive's current Net Income (TTM) was -11.44. ==> 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.

Mad Catz Interactive's current Cash Flow from Operations (TTM) was 0.38. ==> 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 (Dec15)
=-11.437/83.299
=-0.13730057

ROA (Last Year)=Net Income/Total Assets (Dec14)
=1.199/49.008
=0.02446539

Mad Catz Interactive's return on assets of this year was -0.13730057. Mad Catz Interactive's return on assets of last year was 0.02446539. ==> 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.

Mad Catz Interactive's current Net Income (TTM) was -11.44. Mad Catz Interactive's current Cash Flow from Operations (TTM) was 0.38. ==> 0.38 > -11.44 ==> 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: Dec16)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec15 to Dec16
=2.925/52.5118
=0.05570177

Gearing (Last Year: Dec15)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec14 to Dec15
=0.158/62.3304
=0.00253488

Mad Catz Interactive's gearing of this year was 0.05570177. Mad Catz Interactive's gearing of last year was 0.00253488. ==> 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: Dec16)=Total Current Assets/Total Current Liabilities
=29.899/40.875
=0.73147401

Current Ratio (Last Year: Dec15)=Total Current Assets/Total Current Liabilities
=69.049/69.804
=0.989184

Mad Catz Interactive's current ratio of this year was 0.73147401. Mad Catz Interactive's current ratio of last year was 0.989184. ==> 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.

Mad Catz Interactive's number of shares in issue this year was 73.47. Mad Catz Interactive's number of shares in issue last year was 73.903. ==> 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
=0.846/61.86
=0.01367604

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=27.161/133.488
=0.20347147

Mad Catz Interactive's gross margin of this year was 0.01367604. Mad Catz Interactive's gross margin of last year was 0.20347147. ==> 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 (Dec15)
=61.86/83.299
=0.74262596

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec14)
=133.488/49.008
=2.7238002

Mad Catz Interactive's asset turnover of this year was 0.74262596. Mad Catz Interactive's asset turnover of last year was 2.7238002. ==> 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
=0+1+0+1+0+0+1+0+0
=3

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

Mad Catz Interactive has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Mad Catz Interactive  (OTCPK:MCZAF) 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.


Mad Catz Interactive Piotroski F-Score Related Terms

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Mad Catz Interactive Business Description

Mad Catz Interactive logo
Industry
Technology » Hardware NAICS : 334118 SIC : 3361
Traded in Other Exchanges
N/A
Address
181 Bay Street, Suite 4400, Toronto, ON, CAN, M5J 2T3
Mad Catz Interactive Inc is a Canadian company which is engaged in designing, manufacturing, marketing and distributing interactive entertainment products marketed under Mad Catz (gaming), Tritton (audio), and Saitek (simulation) brands. The company's products include headsets, mice, keyboards, controllers, specialty controllers, and other accessories. It caters to gamers and simulation enthusiast across multiple platforms including in-home gaming consoles, handheld gaming consoles, PC (Personal Computers) and Mac computers, smartphones, tablets and other smart devices. The company distributes its products through various retailers around the globe. Mad Catz derives the majority of its revenue from Americas.
Executives
Mcginnis Karen K director, officer: President & CEO INSIGHT ENTERPRISES INC 1305 WEST AUTO DRIVE TEMPE AZ 85284
Brown Thomas R director 15378 AVENUE OF SCIENCE SUITE 100 SAN DIEGO CA 92128
Perlis Morris director C/O COUNSEL CORPORATION 700 - 1 TORONTO ST. TORONTO A6 M5C 2V6
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