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Phoenix Footwear Group Piotroski F-Score

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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

Phoenix Footwear Group 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 Phoenix Footwear Group's Piotroski F-Score or its related term are showing as below:


Phoenix Footwear Group Piotroski F-Score Historical Data

The historical data trend for Phoenix Footwear 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.

Phoenix Footwear Group Annual Data
Trend Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec18 Dec19
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.00 5.00 4.00 3.00 6.00

Phoenix Footwear Group Quarterly Data
Mar08 Jun08 Sep08 Dec08 Mar09 Jun09 Sep09 Dec09 Mar10 Jun10 Sep10 Dec10 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20
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 N/A N/A 6.00 N/A N/A

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 (Jun20) TTM:Last Year (Jun19) TTM:
Net Income was 0.165 + -0.328 + -0.745 + -0.147 = $-1.06 Mil.
Cash Flow from Operations was -1.143 + 1.548 + -0.74 + 0.627 = $0.29 Mil.
Revenue was 5.465 + 3.918 + 3.736 + 2.627 = $15.75 Mil.
Gross Profit was 2.306 + 1.498 + 1.407 + 0.985 = $6.20 Mil.
Average Total Assets from the begining of this year (Jun19)
to the end of this year (Jun20) was
(0 + 14.428 + 13.546 + 14.069 + 12.362) / 5 = $13.60125 Mil.
Total Assets at the begining of this year (Jun19) was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $1.36 Mil.
Total Current Assets was $11.44 Mil.
Total Current Liabilities was $10.89 Mil.
Net Income was 0.388 + 0.014 + 0.098 + -0.093 = $0.41 Mil.

Revenue was 5.848 + 5.511 + 5.695 + 4.502 = $21.56 Mil.
Gross Profit was 2.386 + 2.079 + 2.332 + 1.993 = $8.79 Mil.
Average Total Assets from the begining of last year (Dec10)
to the end of last year (Jun19) was
(10.74 + 0 + 13.153 + 0 + 0) / 5 = $11.9465 Mil.
Total Assets at the begining of last year (Dec10) was $10.74 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Total Current Assets was $0.00 Mil.
Total Current Liabilities was $0.00 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.

Phoenix Footwear Group's current Net Income (TTM) was -1.06. ==> 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.

Phoenix Footwear Group's current Cash Flow from Operations (TTM) was 0.29. ==> 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 (Jun19)
=-1.055/0
=

ROA (Last Year)=Net Income/Total Assets (Dec10)
=0.407/10.74
=0.03789572

Phoenix Footwear Group's return on assets of this year was . Phoenix Footwear Group's return on assets of last year was 0.03789572. ==> 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.

Phoenix Footwear Group's current Net Income (TTM) was -1.06. Phoenix Footwear Group's current Cash Flow from Operations (TTM) was 0.29. ==> 0.29 > -1.06 ==> 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: Jun20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun19 to Jun20
=1.357/13.60125
=0.09977024

Gearing (Last Year: Jun19)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec10 to Jun19
=0/11.9465
=0

Phoenix Footwear Group's gearing of this year was 0.09977024. Phoenix Footwear Group'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: Jun20)=Total Current Assets/Total Current Liabilities
=11.435/10.888
=1.0502388

Current Ratio (Last Year: Jun19)=Total Current Assets/Total Current Liabilities
=0/0
=

Phoenix Footwear Group's current ratio of this year was 1.0502388. Phoenix Footwear Group's current ratio of last year was . ==> 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.

Phoenix Footwear Group's number of shares in issue this year was 12.922. Phoenix Footwear Group's number of shares in issue last year was 12.768. ==> 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
=6.196/15.746
=0.39349676

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=8.79/21.556
=0.4077751

Phoenix Footwear Group's gross margin of this year was 0.39349676. Phoenix Footwear Group's gross margin of last year was 0.4077751. ==> 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 (Jun19)
=15.746/0
=

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec10)
=21.556/10.74
=2.00707635

Phoenix Footwear Group's asset turnover of this year was . Phoenix Footwear Group's asset turnover of last year was 2.00707635. ==> 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+1+0+0+0
=3

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

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

Phoenix Footwear Group  (OTCPK:PXFG) 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.


Phoenix Footwear Group Piotroski F-Score Related Terms

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


Phoenix Footwear Group Business Description

Phoenix Footwear Group logo
Traded in Other Exchanges
N/A
Address
2236 Rutherford Road, Suite 113, Carlsbad, CA, USA, 92008
Phoenix Footwear Group Inc operates in the footwear industry. It is engaged in the manufacturing and distribution of footwear in a range of sizes and widths under the brand's Trotters, SoftWalk, SAVA, and Bueno. The company's distribution channels include specialty and independent retail stores, mail order catalogues, uniform, and internet retailers. It also operates its own direct to consumer internet retail business for all its brands. The company's footwear is produced by independent contract manufacturers located in China and Vietnam.
Executives
Riedman Corp other: member of 10% group 45 EAST AVENUE ROCHESTER NY 14604
Tannenbaum Steven 10 percent owner 125 COUNTRY CLUB ROAD NEWTON MA 02459
Greenwood Investments, Inc. 10 percent owner 222 BERKELEY STREET 12TH FLOOR BOSTON MA 02116
Greenwood Capital Limited Partnership 10 percent owner 222 BERKELEY STREET 12TH FLOOR BOSTON MA 02116
Greenwood Investors Limited Partnership 10 percent owner 222 BERKELEY STREET FLOOR 17 BOSTON MA 02116
Slack Gregory W officer: CFO 2765 LOKER AVENUE WEST CARLSBAD CA 92010
Carter Robby Lee other: Executive Vice President 303 YARD DRIVE LAKE ST. LOUIS MO 63367
Wulff Kevin G director 1740 MONROVIA AVENUE COSTA MESA CA 92627
Nelson Dennis officer: CFO, Secretary and Treasurer 5840 EL CAMINO REAL, SUITE 106 CARLSBAD CA 92008
Taylor Cathy B director, officer: Chief Executive Officer 5840 EL CAMINO REAL SUITE 106 CARLSBAD CA 92008
Ford Paul Douglas officer: Senior VP of Operations 5840 EL CAMINO REAL SUITE 106 CARLSBAD CA 92008
Pfander Willie director, officer: Senior VP-Sourcing and Develop PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: PFANDER WILLIE a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Harden Greg director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: HARDEN GREG a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Deperrier Steven director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: DEPERRIER STEVEN a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Kratzer John C director PO BOX 116 4806 EL MARLO RANCHO SANTA FE CA 92067

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