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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
SIFCO Industries has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for SIFCO Industries's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of SIFCO Industries was 6. The lowest was 1. And the median was 4.
The historical data trend for SIFCO Industries'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.
SIFCO Industries Annual Data | |||||||||||||||||||||
Trend | Sep15 | Sep16 | Sep17 | Sep18 | Sep19 | Sep20 | Sep21 | Sep22 | Sep23 | Sep24 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial |
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6.00 | 5.00 | 2.00 | 3.00 | 6.00 |
SIFCO Industries 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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3.00 | 3.00 | 4.00 | 6.00 | N/A |
For the Aerospace & Defense subindustry, SIFCO Industries'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 Aerospace & Defense industry and Industrials sector, SIFCO Industries's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where SIFCO Industries'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 -1.59 + 0.072 + -0.443 + -2.316 = $-4.28 Mil. Cash Flow from Operations was -3.845 + 0.382 + 2.318 + -3.809 = $-4.95 Mil. Revenue was 26.543 + 29.259 + 2.779 + 20.883 = $79.46 Mil. Gross Profit was 2.727 + 4.534 + -2.015 + 0.928 = $6.17 Mil. Average Total Assets from the begining of this year (Dec23) to the end of this year (Dec24) was (0 + 104.188 + 106.331 + 104.624 + 80.982) / 5 = $99.03125 Mil. Total Assets at the begining of this year (Dec23) was $0.00 Mil. Long-Term Debt & Capital Lease Obligation was $12.93 Mil. Total Current Assets was $38.94 Mil. Total Current Liabilities was $31.01 Mil. |
Net Income was -2.367 + -0.634 + -3.102 + -3.422 = $-9.53 Mil. Revenue was 19.242 + 21.853 + 3.673 + 15.474 = $60.24 Mil. Gross Profit was 1.72 + 3.478 + -3.114 + -0.545 = $1.54 Mil. Average Total Assets from the begining of last year (Dec22) to the end of last year (Dec23) was (99.767 + 98.713 + 97.556 + 96.281 + 0) / 5 = $98.07925 Mil. Total Assets at the begining of last year (Dec22) was $99.77 Mil. Long-Term Debt & Capital Lease Obligation was $0.00 Mil. Total Current Assets was $0.00 Mil. Total Current Liabilities was $0.00 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.
SIFCO Industries's current Net Income (TTM) was -4.28.
==> 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.
SIFCO Industries's current Cash Flow from Operations (TTM) was -4.95.
==> Negative ==> Score 0.
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) |
= | -4.277 | / | 0 | |
= |
ROA (Last Year) | = | Net Income | / | Total Assets (Dec22) |
= | -9.525 | / | 99.767 | |
= | -0.09547245 |
SIFCO Industries's return on assets of this year was . SIFCO Industries's return on assets of last year was -0.09547245.
==> 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.
SIFCO Industries's current Net Income (TTM) was -4.28. SIFCO Industries's current Cash Flow from Operations (TTM) was -4.95.
==> -4.95 <= -4.28 ==> CFROA <= ROA ==> Score 0.
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 |
= | 12.929 | / | 99.03125 | |
= | 0.13055475 |
Gearing (Last Year: Dec23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec22 to Dec23 |
= | 0 | / | 98.07925 | |
= | 0 |
SIFCO Industries's gearing of this year was 0.13055475. SIFCO Industries's gearing of last year was 0.
==> 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: Dec24) | = | Total Current Assets | / | Total Current Liabilities |
= | 38.935 | / | 31.014 | |
= | 1.25540079 |
Current Ratio (Last Year: Dec23) | = | Total Current Assets | / | Total Current Liabilities |
= | 0 | / | 0 | |
= |
SIFCO Industries's current ratio of this year was 1.25540079. SIFCO Industries's current ratio of last year was .
==> 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.
SIFCO Industries's number of shares in issue this year was 6.016. SIFCO Industries's number of shares in issue last year was 5.956.
==> 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 |
= | 6.174 | / | 79.464 | |
= | 0.07769556 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 1.539 | / | 60.242 | |
= | 0.02554696 |
SIFCO Industries's gross margin of this year was 0.07769556. SIFCO Industries's gross margin of last year was 0.02554696.
==> 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 (Dec23) |
= | 79.464 | / | 0 | |
= |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Dec22) |
= | 60.242 | / | 99.767 | |
= | 0.60382692 |
SIFCO Industries's asset turnover of this year was . SIFCO Industries's asset turnover of last year was 0.60382692.
==> 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 | + | 0 | + | 0 | + | 0 | + | 0 | + | 1 | + | 0 | + | 1 | + | 0 | |
= | 2 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
SIFCO Industries has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
SIFCO Industries (AMEX:SIF) 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 SIFCO Industries's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Wells Norman E Jr. | director | PO BOX 609, AURORA OH 44202 |
Alayne L Reitman | director | SIFCO INDUSTRIES INC, 970 EAST 64TH STREET, CLEVELAND OH 44103 |
Peter William Knapper | director, officer: President & CEO | 5924 MEDALLION DRIVE, WESTERVILLE OH 43082 |
Molten Donald C Jr. | director | 970 EAST 64TH STREET, CLEVELAND OH 44103 |
Mark J Silk | director, 10 percent owner | 4946 AZUSA CANYON ROAD, IRWINDALE CA 91706 |
Hudson Smith | director | SIFCO INDUSTRIES INC, 970 EAST 64TH STREET, CLEVELAND OH 44103 |
Thomas Robert Kubera | officer: Corporate Controller | 1327 SPRUCEDALE ROAD, BROADVIEW HEIGHTS OH 44147 |
Jeffrey P Gotschall | director | SIFCO INDUSTRIES INC, 970 EAST 64TH STREET, CLEVELAND OH 44103 |
Salvatore Incanno | officer: VP of Finance & CFO | 970 E. 64TH ST, CLEVELAND OH 44103 |
John Sr Chapman | director | 970 EAST 64TH STREET, CLEVELAND OH 44103 |
Dennis Paul Hido | officer: Corporate Controller | 21 EMERALD COURT, CANFIELD OH 44406 |
Catherine Marie Kramer | officer: Vice President-Finance & CFO | 14388 CASTLEREAGH LANE, STRONSVILLE OH 44136 |
Frank N Nichols | director | 8646 CARDINAL DRIVE, KIRTLAND OH 44094 |
Frank A Cappello | officer: Vice President Finance and CFO | SIFCO INDUSTRIES INC, 970 EAST 64TH STREET, CLEVELAND OH 44103 |
Miller P Charles Jr | director | SIFCO INDUSTRIES INC, 970 EAST 64TH STREET, CLEVELAND OH 44103 |
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