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PBHC (Pathfinder Bancorp) Piotroski F-Score : 4 (As of Dec. 14, 2024)


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What is Pathfinder Bancorp Piotroski F-Score?

The zones of discrimination were as such:

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

Pathfinder Bancorp has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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

PBHC' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 9
Current: 4

During the past 13 years, the highest Piotroski F-Score of Pathfinder Bancorp was 9. The lowest was 3. And the median was 5.


Pathfinder Bancorp Piotroski F-Score Historical Data

The historical data trend for Pathfinder 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.

* Premium members only.

Pathfinder Bancorp Piotroski F-Score Chart

Pathfinder Bancorp Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 6.00 9.00 5.00 5.00

Pathfinder Bancorp Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Piotroski F-Score Get a 7-Day Free Trial 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 5.00 5.00 5.00 5.00 4.00

Competitive Comparison of Pathfinder Bancorp's Piotroski F-Score

For the Banks - Regional subindustry, Pathfinder Bancorp'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.


Pathfinder Bancorp's Piotroski F-Score Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Pathfinder Bancorp's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Pathfinder Bancorp'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 (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was 2.536 + 2.12 + 2 + -4.644 = $2.01 Mil.
Cash Flow from Operations was 8.429 + 0.504 + 1.518 + 11.842 = $22.29 Mil.
Revenue was 10.261 + 10.852 + 10.459 + 13.167 = $44.74 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(1400.649 + 1465.798 + 1453.672 + 1446.211 + 1483.126) / 5 = $1449.8912 Mil.
Total Assets at the begining of this year (Sep23) was $1,400.65 Mil.
Long-Term Debt & Capital Lease Obligation was $88.28 Mil.
Total Assets was $1,483.13 Mil.
Total Liabilities was $1,362.03 Mil.
Net Income was 3.53 + 2.599 + 1.982 + 2.176 = $10.29 Mil.

Revenue was 13.064 + 11.299 + 10.536 + 10.98 = $45.88 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(1396.946 + 1399.921 + 1404.269 + 1392.346 + 1400.649) / 5 = $1398.8262 Mil.
Total Assets at the begining of last year (Sep22) was $1,396.95 Mil.
Long-Term Debt & Capital Lease Obligation was $89.91 Mil.
Total Assets was $1,400.65 Mil.
Total Liabilities was $1,286.21 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.

Pathfinder Bancorp's current Net Income (TTM) was 2.01. ==> 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.

Pathfinder Bancorp's current Cash Flow from Operations (TTM) was 22.29. ==> 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 (Sep23)
=2.012/1400.649
=0.00143648

ROA (Last Year)=Net Income/Total Assets (Sep22)
=10.287/1396.946
=0.00736392

Pathfinder Bancorp's return on assets of this year was 0.00143648. Pathfinder Bancorp's return on assets of last year was 0.00736392. ==> 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.

Pathfinder Bancorp's current Net Income (TTM) was 2.01. Pathfinder Bancorp's current Cash Flow from Operations (TTM) was 22.29. ==> 22.29 > 2.01 ==> 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: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=88.276/1449.8912
=0.06088457

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=89.912/1398.8262
=0.06427675

Pathfinder Bancorp's gearing of this year was 0.06088457. Pathfinder Bancorp's gearing of last year was 0.06427675. ==> 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.

Current Ratio (This Year: Sep24)=Total Assets/Total Liabilities
=1483.126/1362.026
=1.08891167

Current Ratio (Last Year: Sep23)=Total Assets/Total Liabilities
=1400.649/1286.207
=1.08897635

Pathfinder Bancorp's current ratio of this year was 1.08891167. Pathfinder Bancorp's current ratio of last year was 1.08897635. ==> 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.

Pathfinder Bancorp's number of shares in issue this year was 4.714. Pathfinder Bancorp's number of shares in issue last year was 4.671. ==> 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.

* 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.

Net Margin (This Year: TTM)=Net Income/Revenue
=2.012/44.739
=0.04497195

Net Margin (Last Year: TTM)=Net Income/Revenue
=10.287/45.879
=0.22422023

Pathfinder Bancorp's net margin of this year was 0.04497195. Pathfinder Bancorp's net margin of last year was 0.22422023. ==> Last year's net 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 (Sep23)
=44.739/1400.649
=0.03194162

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=45.879/1396.946
=0.03284236

Pathfinder Bancorp's asset turnover of this year was 0.03194162. Pathfinder Bancorp's asset turnover of last year was 0.03284236. ==> 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
=1+1+0+1+1+0+0+0+0
=4

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

Pathfinder Bancorp has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Pathfinder Bancorp  (NAS:PBHC) 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.


Pathfinder Bancorp Piotroski F-Score Related Terms

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Pathfinder Bancorp Business Description

Traded in Other Exchanges
N/A
Address
214 West First Street, Oswego, NY, USA, 13126
Pathfinder Bancorp Inc is a holding company for Pathfinder Bank. The Pathfinder Bank is a commercial bank engaged in attracting deposits from the general public and investing such deposits, together with other sources of funds, in loans secured by residential real estate, commercial real estate, small business loans, and consumer loans. The bank invests a portion of its assets in debt securities issued by the United States Government and its agencies and sponsored enterprises, state and municipal obligations, corporate debt securities, mutual funds, and equity securities. The principal source of income is interest on loans and investment securities.
Executives
Eric Allyn director 214 WEST FIRST STREET, OSWEGO NY 13126
Daniel R Phillips officer: SVP 214 WEST FIRST STREET, OSWEGO NY 13126
David A. Ayoub director 214 WEST FIRST STREET, OSWEGO NY 13126
James A. Dowd officer: SVP and CFO 214 WEST FIRST STREET, OSWEGO NY 13126
Walter Rusnak officer: Vice President Finance 214 WEST FIRST STREET, OSWEGO NY 13126
Meghan Crawford-hamlin director 214 WEST FIRST STREET, OSWEGO NY 13126
Butkowski Robert G. Jr. officer: First Vice President 214 WEST FIRST STREET, OSWEGO NY 13126
George P Joyce director 214 WEST FIRST STREET, OSWEGO NY 13126
Calvin Corriders officer: First Vice President 214 WEST FIRST STREET, OSWEGO NY 13126
Adam C. Gagas director 214 WEST FIRST STREET, OSWEGO NY 13126
Ronald Tascarella officer: SVP and CCO
Rebecca Braheney officer: Controller, VP 214 WEST FIRST STREET, OSWEGO NY 13126
Ronald G. Tascarella officer: 1st Vice President 214 WEST FIRST STREET, OSWEGO NY 13126
John Funiciello director 214 WEST FIRST STREET, OSWEGO NY 13126
Thomas W Schneider director, officer: President and CEO 214 WEST FIRST STREET, OSWEGO NY 13126

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