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QRTEB (Qurate Retail) Piotroski F-Score : 4 (As of Dec. 13, 2024)


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What is Qurate Retail 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

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

QRTEB' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 7
Current: 4

During the past 13 years, the highest Piotroski F-Score of Qurate Retail was 7. The lowest was 3. And the median was 5.


Qurate Retail Piotroski F-Score Historical Data

The historical data trend for Qurate Retail'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.

Qurate Retail Piotroski F-Score Chart

Qurate Retail 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 5.00 7.00 6.00 4.00 6.00

Qurate Retail 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 7.00 6.00 6.00 6.00 4.00

Competitive Comparison of Qurate Retail's Piotroski F-Score

For the Internet Retail subindustry, Qurate Retail'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.


Qurate Retail's Piotroski F-Score Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Qurate Retail's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Qurate Retail'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 -273 + -1 + 20 + -23 = $-277 Mil.
Cash Flow from Operations was 317 + 26 + 267 + 20 = $630 Mil.
Revenue was 3143 + 2342 + 2407 + 2344 = $10,236 Mil.
Gross Profit was 1059 + 831 + 875 + 827 = $3,592 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(11437 + 11368 + 10981 + 10939 + 10773) / 5 = $11099.6 Mil.
Total Assets at the begining of this year (Sep23) was $11,437 Mil.
Long-Term Debt & Capital Lease Obligation was $4,799 Mil.
Total Current Assets was $3,229 Mil.
Total Current Liabilities was $2,649 Mil.
Net Income was -51 + 20 + 107 + 1 = $77 Mil.

Revenue was 3526 + 2644 + 2649 + 2479 = $11,298 Mil.
Gross Profit was 994 + 835 + 915 + 876 = $3,620 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(11796 + 12571 + 12200 + 11799 + 11437) / 5 = $11960.6 Mil.
Total Assets at the begining of last year (Sep22) was $11,796 Mil.
Long-Term Debt & Capital Lease Obligation was $5,374 Mil.
Total Current Assets was $3,485 Mil.
Total Current Liabilities was $2,456 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.

Qurate Retail's current Net Income (TTM) was -277. ==> 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.

Qurate Retail's current Cash Flow from Operations (TTM) was 630. ==> 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)
=-277/11437
=-0.02421964

ROA (Last Year)=Net Income/Total Assets (Sep22)
=77/11796
=0.00652764

Qurate Retail's return on assets of this year was -0.02421964. Qurate Retail's return on assets of last year was 0.00652764. ==> 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.

Qurate Retail's current Net Income (TTM) was -277. Qurate Retail's current Cash Flow from Operations (TTM) was 630. ==> 630 > -277 ==> 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
=4799/11099.6
=0.43235792

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=5374/11960.6
=0.44930856

Qurate Retail's gearing of this year was 0.43235792. Qurate Retail's gearing of last year was 0.44930856. ==> 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: Sep24)=Total Current Assets/Total Current Liabilities
=3229/2649
=1.21895055

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=3485/2456
=1.41897394

Qurate Retail's current ratio of this year was 1.21895055. Qurate Retail's current ratio of last year was 1.41897394. ==> 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.

Qurate Retail's number of shares in issue this year was 397. Qurate Retail's number of shares in issue last year was 389. ==> 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
=3592/10236
=0.35091833

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=3620/11298
=0.32041069

Qurate Retail's gross margin of this year was 0.35091833. Qurate Retail's gross margin of last year was 0.32041069. ==> This year's gross 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Sep23)
=10236/11437
=0.89498994

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=11298/11796
=0.9577823

Qurate Retail's asset turnover of this year was 0.89498994. Qurate Retail's asset turnover of last year was 0.9577823. ==> 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+1+0+0+1+0
=4

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

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

Qurate Retail  (NAS:QRTEB) 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.


Qurate Retail Piotroski F-Score Related Terms

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Qurate Retail Business Description

Address
12300 Liberty Boulevard, Englewood, CO, USA, 80112
Qurate Retail Inc, through its subsidiaries, is engaged in the video and online commerce industries. Its segments include QxH, which includes QVC U.S. and HSN market and sell a wide variety of consumer products in the United States, using their televised shopping programs and via the Internet through their websites and mobile applications; QVC International segment markets and sells a wide variety of consumer products in several foreign countries, using its televised shopping programs and via the Internet through its international websites and mobile applications; and Zulily markets and sells a wide variety of consumer products in the United States and several foreign countries. Geographically, the company operates in U.S, which generates key revenue, Japan, Germany and other regions.