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RGCO (RGC Resources) Piotroski F-Score : 5 (As of Jul. 09, 2025)


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What is RGC Resources 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

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

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

During the past 13 years, the highest Piotroski F-Score of RGC Resources was 7. The lowest was 4. And the median was 5.


RGC Resources Piotroski F-Score Historical Data

The historical data trend for RGC Resources'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.

RGC Resources Piotroski F-Score Chart

RGC Resources Annual Data
Trend Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 6.00 5.00 6.00 5.00

RGC Resources Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
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 6.00 6.00 5.00 5.00 5.00

Competitive Comparison of RGC Resources's Piotroski F-Score

For the Utilities - Regulated Gas subindustry, RGC Resources'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.


RGC Resources's Piotroski F-Score Distribution in the Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, RGC Resources's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where RGC Resources's Piotroski F-Score falls into.


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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 (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was 0.157 + 0.141 + 5.27 + 7.676 = $13.24 Mil.
Cash Flow from Operations was 5.854 + 0.377 + 0.827 + 21.008 = $28.07 Mil.
Revenue was 14.458 + 13.104 + 27.289 + 36.462 = $91.31 Mil.
Gross Profit was 4.887 + 3.395 + 10.894 + 14.071 = $33.25 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(313.36 + 314.154 + 320.699 + 335.172 + 326.421) / 5 = $321.9612 Mil.
Total Assets at the begining of this year (Mar24) was $313.36 Mil.
Long-Term Debt & Capital Lease Obligation was $115.23 Mil.
Total Current Assets was $25.78 Mil.
Total Current Liabilities was $45.49 Mil.
Net Income was 0.687 + 1.014 + 5.02 + 6.443 = $13.16 Mil.

Revenue was 13.66 + 12.468 + 24.419 + 32.659 = $83.21 Mil.
Gross Profit was 4.807 + 3.758 + 9.982 + 12.031 = $30.58 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(296.452 + 294.766 + 303.729 + 314.703 + 313.36) / 5 = $304.602 Mil.
Total Assets at the begining of last year (Mar23) was $296.45 Mil.
Long-Term Debt & Capital Lease Obligation was $136.24 Mil.
Total Current Assets was $28.53 Mil.
Total Current Liabilities was $21.70 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.

RGC Resources's current Net Income (TTM) was 13.24. ==> 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.

RGC Resources's current Cash Flow from Operations (TTM) was 28.07. ==> 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 (Mar24)
=13.244/313.36
=0.04226449

ROA (Last Year)=Net Income/Total Assets (Mar23)
=13.164/296.452
=0.04440517

RGC Resources's return on assets of this year was 0.04226449. RGC Resources's return on assets of last year was 0.04440517. ==> 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.

RGC Resources's current Net Income (TTM) was 13.24. RGC Resources's current Cash Flow from Operations (TTM) was 28.07. ==> 28.07 > 13.24 ==> 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: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=115.227/321.9612
=0.35789095

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=136.237/304.602
=0.44726233

RGC Resources's gearing of this year was 0.35789095. RGC Resources's gearing of last year was 0.44726233. ==> 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: Mar25)=Total Current Assets/Total Current Liabilities
=25.778/45.489
=0.56668645

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=28.526/21.702
=1.31444107

RGC Resources's current ratio of this year was 0.56668645. RGC Resources's current ratio of last year was 1.31444107. ==> 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.

RGC Resources's number of shares in issue this year was 10.308. RGC Resources's number of shares in issue last year was 10.174. ==> 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
=33.247/91.313
=0.36409931

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=30.578/83.206
=0.36749754

RGC Resources's gross margin of this year was 0.36409931. RGC Resources's gross margin of last year was 0.36749754. ==> 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 (Mar24)
=91.313/313.36
=0.29139967

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=83.206/296.452
=0.28067276

RGC Resources's asset turnover of this year was 0.29139967. RGC Resources's asset turnover of last year was 0.28067276. ==> 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
=1+1+0+1+1+0+0+0+1
=5

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

RGC Resources has an F-score of 5 indicating the company's financial situation is typical for a stable company.

RGC Resources  (NAS:RGCO) 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.


RGC Resources Piotroski F-Score Related Terms

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RGC Resources Business Description

Traded in Other Exchanges
N/A
Address
519 Kimball Avenue North East, Roanoke, VA, USA, 24016
RGC Resources Inc is involved in the business of distribution and sale of natural gas to residential, commercial, and industrial customers within its service territory in Roanoke, Virginia, and its surrounding localities. The company also provides certain non-regulated services. The company relies on multiple interstate pipelines to transport natural gas. The company operates in three segments: Gas Utility, which is the key revenue generator; Investment in Affiliates this segment reflects the income generated through the activities of the Company's investment in MVP and Southgate projects and Parent & Other including the unregulated activities of the Company as well as certain corporate eliminations.
Executives
Christen Brooke Miles officer: VP, Human Resources P.O. BOX 13007, ROANOKE VA 24030
Lawrence T. Oliver officer: VP, Interim CFO, Sec. & Treas. P. O. BOX 13007, ROANOKE VA 24030
Robert B Johnston director
Paul W Nester officer: VP, Treasurer & CFO P.O. BOX 13007, ROANOKE VA 24030
Jason A. Field officer: VP, Treasurer & CFO P. O. BOX 13007, ROANOKE VA 24030
Williamson John B Iii director, officer: Chairman, President & CEO PO BOX 13007, ROANOKE VA 24030
Anita G Zucker 10 percent owner 4838 JENKINS AVE, N CHARLESTON SC 29405
Elizabeth A Mcclanahan director P. O. BOX 13007, ROANOKE VA 24030
Jacqueline L. Archer director P. O. BOX 13007, ROANOKE VA 24030
Burton Randall P. Ii other: Former VP, CFO, Sec. & Treas. P. O. BOX 13007, ROANOKE VA 24030
Shockley C James Jr officer: VP & COO P.O. BOX 13007, ROANOKE VA 24030
Wells Robert L Ii officer: VP, CIO, Asst. Sec. & Treas. P.O. BOX 13007, ROANOKE VA 24030
Nancy H Agee director PO BOX 13007, ROANOKE VA 24030
D Orazio John S officer: VP & COO Roanoke Gas Co (sub) PO BOX 13007, ROANOKE VA 24030
Smoot Raymond D Jr director P. O. BOX 13007, ROANOKE VA 24030