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RGP (Resources Connection) Piotroski F-Score : 3 (As of Mar. 15, 2025)


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What is Resources Connection Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 3 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

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

RGP' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 9
Current: 3

During the past 13 years, the highest Piotroski F-Score of Resources Connection was 9. The lowest was 3. And the median was 6.


Resources Connection Piotroski F-Score Historical Data

The historical data trend for Resources Connection'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.

Resources Connection Piotroski F-Score Chart

Resources Connection Annual Data
Trend May15 May16 May17 May18 May19 May20 May21 May22 May23 May24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 4.00 6.00 6.00 6.00

Resources Connection Quarterly Data
Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24
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 6.00 4.00 3.00

Competitive Comparison of Resources Connection's Piotroski F-Score

For the Consulting Services subindustry, Resources Connection'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.


Resources Connection's Piotroski F-Score Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, Resources Connection's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Resources Connection'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 (Nov24) TTM:Last Year (Nov23) TTM:
Net Income was 2.55 + 10.472 + -5.707 + -68.715 = $-61.4 Mil.
Cash Flow from Operations was 20.51 + 3.165 + -0.309 + 1.799 = $25.2 Mil.
Revenue was 151.307 + 148.198 + 136.935 + 145.618 = $582.1 Mil.
Gross Profit was 56.008 + 59.583 + 49.987 + 56.086 = $221.7 Mil.
Average Total Assets from the begining of this year (Nov23)
to the end of this year (Nov24) was
(524.864 + 523.164 + 510.914 + 512.869 + 424.873) / 5 = $499.3368 Mil.
Total Assets at the begining of this year (Nov23) was $524.9 Mil.
Long-Term Debt & Capital Lease Obligation was $22.4 Mil.
Total Current Assets was $201.7 Mil.
Total Current Liabilities was $73.6 Mil.
Net Income was 7.019 + 11.768 + 3.117 + 4.895 = $26.8 Mil.

Revenue was 186.777 + 184.449 + 170.169 + 163.127 = $704.5 Mil.
Gross Profit was 71.607 + 75.718 + 67.001 + 63.476 = $277.8 Mil.
Average Total Assets from the begining of last year (Nov22)
to the end of last year (Nov23) was
(550.512 + 532.32 + 531.999 + 522.387 + 524.864) / 5 = $532.4164 Mil.
Total Assets at the begining of last year (Nov22) was $550.5 Mil.
Long-Term Debt & Capital Lease Obligation was $10.3 Mil.
Total Current Assets was $242.2 Mil.
Total Current Liabilities was $86.8 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.

Resources Connection's current Net Income (TTM) was -61.4. ==> 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.

Resources Connection's current Cash Flow from Operations (TTM) was 25.2. ==> 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 (Nov23)
=-61.4/524.864
=-0.11698269

ROA (Last Year)=Net Income/Total Assets (Nov22)
=26.799/550.512
=0.04868014

Resources Connection's return on assets of this year was -0.11698269. Resources Connection's return on assets of last year was 0.04868014. ==> 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.

Resources Connection's current Net Income (TTM) was -61.4. Resources Connection's current Cash Flow from Operations (TTM) was 25.2. ==> 25.2 > -61.4 ==> 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: Nov24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Nov23 to Nov24
=22.371/499.3368
=0.04480142

Gearing (Last Year: Nov23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Nov22 to Nov23
=10.275/532.4164
=0.0192988

Resources Connection's gearing of this year was 0.04480142. Resources Connection's gearing of last year was 0.0192988. ==> 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: Nov24)=Total Current Assets/Total Current Liabilities
=201.717/73.605
=2.74053393

Current Ratio (Last Year: Nov23)=Total Current Assets/Total Current Liabilities
=242.183/86.755
=2.79157397

Resources Connection's current ratio of this year was 2.74053393. Resources Connection's current ratio of last year was 2.79157397. ==> 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.

Resources Connection's number of shares in issue this year was 33.046. Resources Connection's number of shares in issue last year was 33.901. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

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
=221.664/582.058
=0.38082803

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=277.802/704.522
=0.39431274

Resources Connection's gross margin of this year was 0.38082803. Resources Connection's gross margin of last year was 0.39431274. ==> 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 (Nov23)
=582.058/524.864
=1.10896918

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Nov22)
=704.522/550.512
=1.27975775

Resources Connection's asset turnover of this year was 1.10896918. Resources Connection's asset turnover of last year was 1.27975775. ==> 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+0+1+0+0
=3

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

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

Resources Connection  (NAS:RGP) 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.


Resources Connection Piotroski F-Score Related Terms

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Resources Connection Business Description

Traded in Other Exchanges
Address
17101 Armstrong Avenue, Irvine, CA, USA, 92614
Resources Connection Inc provides consulting and business initiative support services predominantly through its operative subsidiary, Resources Global Professionals. It has two segments RGP ( Resources Global Professionals.) and Sitrick. The RGP segment is focused on delivering consulting services catering to its client's operational needs and change initiatives utilizing a combination of bench and on-demand, talent. The Sitrick segment provides corporate, financial, transactional, and crisis communication and management services. The company generates a majority of its revenue from the RGP segment. Geographically, it derives its key revenue from North America and the rest from Europe and the Asia Pacific region.
Executives
Jennifer Y Ryu officer: CFO 17101 ARMSTRONG AVE, STE 100, IRVINE CA 92614
David P White director 17101 ARMSTRONG AVE., STE 100, IRVINE CA 92614
Neil F Dimick director BUILDING 4, TRIDENT PLACE, MOSQUITO WAY, HATFIELD, HERTFORDSHIRE X0 AL10 9UL
Timothy L Brackney officer: President and COO 17101 ARMSTRONG AVE, STE 100, IRVINE CA 92614
Kate W Duchene director, officer: President & CEO 17101 ARMSTRONG AVE, STE 100, IRVINE CA 92614
Robert F Kistinger director 17101 ARMSTRONG AVE, STE 100, IRVINE CA 92614
Jolene Sarkis director 17101 ARMSTRONG AVE, STE 100, IRVINE CA 92614
Maltzan Marco Von director 17101 ARMSTRONG AVE, STE 100, IRVINE CA 92614
Susan Collyns director 6053 W CENTURY BLVD STE 1100, C/O CALIFORNIA PIZZA KITCHEN INC, LOS ANGLES CA 90045-6430
Donald B Murray director, officer: Chief Executive Officer 17101 ARMSTRONG AVE, STE 100, IRVINE CA 92614
Anthony Cherbak officer: Executive VP of Operations 17101 ARMSTRONG AVE, STE 100, IRVINE CA 92614
Lisa Pierozzi director 17101 ARMSTRONG AVE, STE 100, IRVINE CA 92614
Susan J Crawford director 17101 ARMSTRONG AVE, IRVINE CA 92614
John D Bower officer: Vice-President of Finance C/O RESOURCES CONNECTION, 695 TOWN CENTER DR, COSTA MESA CA 92626
Michael H Wargotz director AXCESS WORLDWIDE, 515 MADISON AVE., 15TH FLOOR, NEW YORK NY 10022