Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Red Electricaoracion has an F-score of 5 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Red Electricaoracion's Piotroski F-Score or its related term are showing as below:
RDEIF'
s Piotroski F-Score Range Over the Past 10 Years
Min: 5 Med: 7 Max: 8
Current: 5
During the past 13 years, the highest Piotroski F-Score of Red Electricaoracion was 8. The lowest was 5. And the median was 7.
Red Electricaoracion Piotroski F-Score Historical Data
The historical data trend for Red Electricaoracion'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.
Red Electricaoracion Annual Data
Trend
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
Piotroski F-Score
6.00
5.00
6.00
6.00
5.00
Red Electricaoracion Quarterly Data
Mar18
Jun18
Sep18
Dec18
Mar19
Jun19
Sep19
Dec19
Mar20
Jun20
Sep20
Dec20
Mar21
Jun21
Sep21
Dec21
Mar22
Jun22
Sep22
Dec22
Piotroski F-Score
6.00
7.00
7.00
4.00
5.00
Competitive Comparison
For the Utilities - Regulated Electric subindustry, Red Electricaoracion'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.
Red Electricaoracion Piotroski F-Score Distribution
For the Utilities - Regulated industry and Utilities sector, Red Electricaoracion's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Red Electricaoracion's Piotroski F-Score falls in comparison to its industry or sector. The grey bar indicates the Piotroski F-Score's extreme value range as defined by GuruFocus.
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 (Dec22) TTM:
Last Year (Dec21) TTM:
Net Income was 200.53193832599 + 191.27167019027 + 186.55841584158 + 120.00105932203 = $698 Mil. Cash Flow from Operations was 274.87665198238 + 545.15961945032 + 611.7396039604 + 194.55826271186 = $1,626 Mil. Revenue was 551.21255506608 + 531.41966173362 + 514.66435643564 + 521.1875 = $2,118 Mil. Gross Profit was 562.93612334802 + 540.59936575053 + 516.84455445545 + 525.75423728814 = $2,146 Mil.
Average Total Assets from the begining of this year (Dec21)
to the end of this year (Dec22) was
(15801.670056497 + 14552.6530837 + 15414.482029598 + 14481.679207921 + 15658.389830508) / 5 = $15181.77484165 Mil. Total Assets at the begining of this year (Dec21) was $15,802 Mil. Long-Term Debt & Capital Lease Obligation was $5,836 Mil. Total Current Assets was $3,122 Mil. Total Current Liabilities was $3,075 Mil.
Net Income was 215.60833333333 + 213.32409638554 + 226.63647058824 + 146.68474576271 = $802 Mil.
Revenue was 575.71666666667 + 593.0734939759 + 576.15058823529 + 550.70847457627 = $2,296 Mil. Gross Profit was 583.34880952381 + 601.29036144578 + 591.30705882353 + 563.10169491525 = $2,339 Mil.
Average Total Assets from the begining of last year (Dec20)
to the end of last year (Dec21) was
(15625.412408759 + 15233.84047619 + 16169.260240964 + 15530.945882353 + 15801.670056497) / 5 = $15672.22581295 Mil. Total Assets at the begining of last year (Dec20) was $15,625 Mil. Long-Term Debt & Capital Lease Obligation was $6,685 Mil. Total Current Assets was $3,263 Mil. Total Current Liabilities was $3,360 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.
Red Electricaoracion's current Net Income (TTM) was 698.
==> 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.
Red Electricaoracion's return on assets of this year was 0.04419552. Red Electricaoracion's return on assets of last year was 0.05134288.
==> 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.
Red Electricaoracion's current Net Income (TTM) was 698. Red Electricaoracion's current Cash Flow from Operations (TTM) was 1,626.
==> 1,626 > 698 ==> 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.
Red Electricaoracion's gearing of this year was 0.38442803. Red Electricaoracion's gearing of last year was 0.42653707.
==> 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
Red Electricaoracion's current ratio of this year was 1.0152478. Red Electricaoracion's current ratio of last year was 0.97107665.
==> 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.
Red Electricaoracion's number of shares in issue this year was 539.58. Red Electricaoracion's number of shares in issue last year was 539.277.
==> 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.
Red Electricaoracion's gross margin of this year was 1.01305188. Red Electricaoracion's gross margin of last year was 1.01890476.
==> 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
Red Electricaoracion's asset turnover of this year was 0.1340671. Red Electricaoracion's asset turnover of last year was 0.14691767.
==> 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
+
1
+
0
+
0
+
0
=
5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Red Electricaoracion has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Red Electricaoracion (OTCPK:RDEIF) 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.
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.
Red Electricaoracion Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Red Electricaoracion's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Red Electricaoracion (OTCPK:RDEIF) Business Description
Red Electrica owns and operates the Spanish electric transmission system. The company has acquired almost all of the nation's power grid, which other owners were forced to sell to it by government decree. Its activities are regulated by the National Energy Commission, which answers to the Spanish legislature. Red also operates a small fibre-optics network in Spain and has a growing Latin American infrastructure business. The group significantly increased its exposure to telecommunications by acquiring Spanish communications satellite operator Hispasat from Abertis in 2019.
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