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The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Seacoast Banking of Florida 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 Seacoast Banking of Florida's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Seacoast Banking of Florida was 7. The lowest was 4. And the median was 6.
The historical data trend for Seacoast Banking of Florida'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.
Seacoast Banking of Florida Annual Data | |||||||||||||||||||||
Trend | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | Dec24 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial |
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4.00 | 6.00 | 4.00 | 6.00 | 4.00 |
Seacoast Banking of Florida Quarterly Data | ||||||||||||||||||||
Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | Dec24 | |
Piotroski F-Score | Get a 7-Day Free Trial |
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6.00 | 6.00 | 7.00 | 6.00 | 4.00 |
For the Banks - Regional subindustry, Seacoast Banking of Florida'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.
For the Banks industry and Financial Services sector, Seacoast Banking of Florida's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Seacoast Banking of Florida'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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Net Income was 26.006 + 30.244 + 30.651 + 34.085 = $121.0 Mil. Cash Flow from Operations was 24.672 + 56.863 + 53.374 + 44.993 = $179.9 Mil. Revenue was 125.575 + 126.608 + 130.344 + 132.872 = $515.4 Mil. Average Total Assets from the begining of this year (Dec23) to the end of this year (Dec24) was (14580.249 + 14830.015 + 14952.613 + 15168.371 + 15176.308) / 5 = $14941.5112 Mil. Total Assets at the begining of this year (Dec23) was $14,580.2 Mil. Long-Term Debt & Capital Lease Obligation was $352.0 Mil. Total Assets was $15,176.3 Mil. Total Liabilities was $12,993.1 Mil. |
Net Income was 11.827 + 31.249 + 31.414 + 29.543 = $104.0 Mil. Revenue was 153.597 + 148.539 + 137.099 + 128.157 = $567.4 Mil. Average Total Assets from the begining of last year (Dec22) to the end of last year (Dec23) was (12145.762 + 15255.408 + 15041.932 + 14823.007 + 14580.249) / 5 = $14369.2716 Mil. Total Assets at the begining of last year (Dec22) was $12,145.8 Mil. Long-Term Debt & Capital Lease Obligation was $156.3 Mil. Total Assets was $14,580.2 Mil. Total Liabilities was $12,472.2 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.
Seacoast Banking of Florida's current Net Income (TTM) was 121.0.
==> 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.
Seacoast Banking of Florida's current Cash Flow from Operations (TTM) was 179.9.
==> 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 (Dec23) |
= | 120.986 | / | 14580.249 | |
= | 0.00829794 |
ROA (Last Year) | = | Net Income | / | Total Assets (Dec22) |
= | 104.033 | / | 12145.762 | |
= | 0.00856537 |
Seacoast Banking of Florida's return on assets of this year was 0.00829794. Seacoast Banking of Florida's return on assets of last year was 0.00856537.
==> 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.
Seacoast Banking of Florida's current Net Income (TTM) was 121.0. Seacoast Banking of Florida's current Cash Flow from Operations (TTM) was 179.9.
==> 179.9 > 121.0 ==> 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: Dec24) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec23 to Dec24 |
= | 351.966 | / | 14941.5112 | |
= | 0.02355625 |
Gearing (Last Year: Dec23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec22 to Dec23 |
= | 156.302 | / | 14369.2716 | |
= | 0.01087752 |
Seacoast Banking of Florida's gearing of this year was 0.02355625. Seacoast Banking of Florida's gearing of last year was 0.01087752.
==> 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
* 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: Dec24) | = | Total Assets | / | Total Liabilities |
= | 15176.308 | / | 12993.065 | |
= | 1.16803141 |
Current Ratio (Last Year: Dec23) | = | Total Assets | / | Total Liabilities |
= | 14580.249 | / | 12472.163 | |
= | 1.16902329 |
Seacoast Banking of Florida's current ratio of this year was 1.16803141. Seacoast Banking of Florida's current ratio of last year was 1.16902329.
==> 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.
Seacoast Banking of Florida's number of shares in issue this year was 85.415. Seacoast Banking of Florida's number of shares in issue last year was 85.337.
==> 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 |
= | 120.986 | / | 515.399 | |
= | 0.2347424 |
Net Margin (Last Year: TTM) | = | Net Income | / | Revenue |
= | 104.033 | / | 567.392 | |
= | 0.18335296 |
Seacoast Banking of Florida's net margin of this year was 0.2347424. Seacoast Banking of Florida's net margin of last year was 0.18335296.
==> This year's net 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 (Dec23) |
= | 515.399 | / | 14580.249 | |
= | 0.03534912 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Dec22) |
= | 567.392 | / | 12145.762 | |
= | 0.04671522 |
Seacoast Banking of Florida's asset turnover of this year was 0.03534912. Seacoast Banking of Florida's asset turnover of last year was 0.04671522.
==> 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 | + | 0 | + | 0 | + | 0 | + | 1 | + | 0 | |
= | 4 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Seacoast Banking of Florida has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Seacoast Banking of Florida (NAS:SBCF) 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.
Thank you for viewing the detailed overview of Seacoast Banking of Florida's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Charles M Shaffer | director, officer: Chairman, President & CEO | C/O SEACOAST BANKING CORPORATION OF FL, 815 COLORADO AVE., P. O. BOX 9012, STUART FL 34995 |
Hudson Dennis S Iii | director, officer: President & CEO | 815 COLORADO AVENUE, P O BOX 9012, STUART FL 34995-9012 |
Stallings James C Iii | officer: EVP, Chief Credit Officer | P.O. BOX 9012, STUART FL 34995 |
Robert J Lipstein | director | 1661 WORTHINGTON ROAD, SUITE 100, WEST PALM BEACH FL 33409 |
Jacqueline Lynette Bradley | director | 5336 ISLEWORTH COUNTRY CLUB DRIVE, WINDERMERE FL 34786 |
Maryann Goebel | director | 411 NORTH NEW RIVER DRIVE EAST, UNIT 2902, FORT LAUDERDALE FL 33301 |
Dennis J Arczynski | director | 5771 HAWKES BLUFF AVENUE, DAVIE FL 33331 |
Thomas E Rossin | director | C/O SEACOAST BANKING CORPORATION OF FL, P. O. BOX 9012, STUART FL 34995 |
Christopher E Fogal | director | 102 NE CHARLESTON OAK DRIVE, PORT ST. LUCIE FL 34983 |
Alvaro Monserrat | director | 2400 ACORN PALM ROAD, BOCA RATON FL 33432 |
Shearouse Joseph B Iii | director | P.O. BOX 9012, STUART FL 34995 |
Julie H Daum | director | 1000 PALM WAY, NORTH PALM BEACH FL 33408 |
Culbreth H Gilbert Jr | director | C/O SEACOAST BANKING CORPORATION OF FL, P. O. BOX 9012, STUART FL 34995 |
Austen Carroll | officer: EVP, Chief Lending Officer | P.O. BOX 9012, STUART FL 34995 |
Juliette Kleffel | other: EVP of Subsidiary | P.O. BOX 9012, STUART FL 34995 |
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