GURUFOCUS.COM » STOCK LIST » USA » OTCPK » PreVu Inc (OTCPK:PRVU) » Definitions » Piotroski F-Score
Switch to:

PreVu Piotroski F-Score

: 0 (As of Today)
View and export this data going back to 2008. Start your Free Trial

The zones of discrimination were as such:

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

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


PreVu Piotroski F-Score Historical Data

The historical data trend for PreVu'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.

PreVu Annual Data
Trend Jan98 Jan99 Jan00 Jan01 Jan02 Jan03 Jan04 Jan05 Jan06 Jan07
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - - - -

PreVu Quarterly Data
Jul03 Oct03 Jan04 Apr04 Jul04 Oct04 Jan05 Apr05 Jul05 Oct05 Jan06 Apr06 Jul06 Oct06 Jan07 Apr07 Jul07 Oct07 Jan08 Apr08
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 - - - - -

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 (Apr08) TTM:Last Year (Apr07) TTM:
Net Income was -29.376 + -18.521 + -8.38 + -22.364 = $-78.6 Mil.
Cash Flow from Operations was -19.888 + -31.591 + 32.528 + 3.769 = $-15.2 Mil.
Revenue was 43.586 + 57.833 + 121.424 + 36.435 = $259.3 Mil.
Gross Profit was -2.423 + 7.676 + 43.212 + 4.971 = $53.4 Mil.
Average Total Assets from the begining of this year (Apr07)
to the end of this year (Apr08) was
(120.464 + 122.623 + 136.238 + 90.589 + 64.729) / 5 = $106.9286 Mil.
Total Assets at the begining of this year (Apr07) was $120.5 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 Mil.
Total Current Assets was $49.1 Mil.
Total Current Liabilities was $29.9 Mil.
Net Income was -24.502 + -14.057 + 11.964 + -21.265 = $-47.9 Mil.

Revenue was 49.158 + 64.457 + 132.967 + 42.364 = $288.9 Mil.
Gross Profit was 1.878 + 15.421 + 49.982 + 6.159 = $73.4 Mil.
Average Total Assets from the begining of last year (Apr06)
to the end of last year (Apr07) was
(169.344 + 146.009 + 146.453 + 145.345 + 120.464) / 5 = $145.523 Mil.
Total Assets at the begining of last year (Apr06) was $169.3 Mil.
Long-Term Debt & Capital Lease Obligation was $20.0 Mil.
Total Current Assets was $81.0 Mil.
Total Current Liabilities was $25.0 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.

PreVu's current Net Income (TTM) was -78.6. ==> 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.

PreVu's current Cash Flow from Operations (TTM) was -15.2. ==> Negative ==> Score 0.

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 (Apr07)
=-78.641/120.464
=-0.65281744

ROA (Last Year)=Net Income/Total Assets (Apr06)
=-47.86/169.344
=-0.28261999

PreVu's return on assets of this year was -0.65281744. PreVu's return on assets of last year was -0.28261999. ==> 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.

PreVu's current Net Income (TTM) was -78.6. PreVu's current Cash Flow from Operations (TTM) was -15.2. ==> -15.2 > -78.6 ==> 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: Apr08)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Apr07 to Apr08
=0/106.9286
=0

Gearing (Last Year: Apr07)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Apr06 to Apr07
=20/145.523
=0.13743532

PreVu's gearing of this year was 0. PreVu's gearing of last year was 0.13743532. ==> 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: Apr08)=Total Current Assets/Total Current Liabilities
=49.055/29.857
=1.64299829

Current Ratio (Last Year: Apr07)=Total Current Assets/Total Current Liabilities
=81.035/25.004
=3.24088146

PreVu's current ratio of this year was 1.64299829. PreVu's current ratio of last year was 3.24088146. ==> 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.

PreVu's number of shares in issue this year was 39.35. PreVu's number of shares in issue last year was 39.212. ==> 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
=53.436/259.278
=0.20609539

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=73.44/288.946
=0.25416514

PreVu's gross margin of this year was 0.20609539. PreVu's gross margin of last year was 0.25416514. ==> 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 (Apr07)
=259.278/120.464
=2.15232767

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Apr06)
=288.946/169.344
=1.70626653

PreVu's asset turnover of this year was 2.15232767. PreVu's asset turnover of last year was 1.70626653. ==> 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+0+0+1+1+0+0+0+1
=3

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

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

PreVu  (OTCPK:PRVU) 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.


PreVu Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of PreVu's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


PreVu Business Description

PreVu logo
Traded in Other Exchanges
N/A
Address
7401 Boone Avenue North, Brooklyn Park, MN, USA, 55428
PreVu Inc is a retailer of leather outerwear, accessories and apparel in the United States. The company's products include men's and women's fashion leather jackets, handbags and other accessories.
Executives
Farley William F director 700 SOUTH SECOND STREET #90 MINNEAPOLIS MN 55402
Searles Michael M director, officer: Chief Executive Officer 7401 BOONE AVENUE NORTH BROOKLYN PARK MN 55428
Sweeney Michael T director GOLDNER HAWN 3700 WELLS FARGO CENTER, 90 SOUTH 7TH ST MINNEAPOLIS MN 55402
Weschler, R. Ted director, 10 percent owner 404B EAST MAIN STREET 2ND FLOOR CHARLOTTESVILLE VA 22902
Peninsula Investment Partners, L.p. 10 percent owner 404B EAST MAIN STREET 2ND FLOOR CHARLOTTESVILLE, VA 22902
Peninsula Capital Advisors Llc 10 percent owner 404B EAST MAIN STREET 2ND FLOOR CHARLOTTESVILLE, VA 22902
Cowhing Michael T director C/O NEWELL RUBBERMAID INC. THREE GLENLAKE PKWY. ATLANTA 2Q 30328
Mccoy Michael J director 1 HORMEL PLACE AUSTIN TX 55912
Michielutti Peter G officer: Executive VP, CFO & COO 2400 XENIUM LANE NORTH PLYMOUTH MN 55441
Waller Joel N director 2400 XENIUM LANE NORTH PLYMOUTH MN 55441
Berman Lyle director 10275 WAYZATA BOULEVARD SUITE 100 MINNETONKA MN 55305
Vitali Cheryl L director
Grassle Jenele C officer: Vice President 605 HWY 169 N SUITE 400 MINNEAPOLIS MN 55441

PreVu Headlines

No Headlines

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)