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Starwood Property Trust (STU:VSP) Piotroski F-Score : 7 (As of Mar. 02, 2025)


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What is Starwood Property Trust Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

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

Starwood Property Trust has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Starwood Property Trust's Piotroski F-Score or its related term are showing as below:

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

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


Starwood Property Trust Piotroski F-Score Historical Data

The historical data trend for Starwood Property Trust'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.

Starwood Property Trust Piotroski F-Score Chart

Starwood Property Trust Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 5.00 6.00 4.00 7.00

Starwood Property Trust 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 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 4.00 5.00 4.00 5.00 7.00

Competitive Comparison of Starwood Property Trust's Piotroski F-Score

For the REIT - Mortgage subindustry, Starwood Property Trust'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.


Starwood Property Trust's Piotroski F-Score Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Starwood Property Trust's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Starwood Property Trust'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 141.985 + 72.36 + 68.537 + 49.319 = €332.2 Mil.
Cash Flow from Operations was 51.473 + 49.477 + 217.861 + 282.279 = €601.1 Mil.
Revenue was 276.472 + 208.6 + 210.816 + 193.737 = €889.6 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(63735.348 + 60876.095 + 59539.054 + 57874.699 + 59741.455) / 5 = €60353.3302 Mil.
Total Assets at the begining of this year (Dec23) was €63,735.3 Mil.
Long-Term Debt & Capital Lease Obligation was €7,807.1 Mil.
Total Assets was €59,741.5 Mil.
Total Liabilities was €52,871.7 Mil.
Net Income was 48.544 + 155.842 + 44.447 + 65.071 = €313.9 Mil.

Revenue was 148.919 + 375.842 + 142.825 + 272.721 = €940.3 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(74616.714 + 72248.991 + 67536.249 + 65865.187 + 63735.348) / 5 = €68800.4978 Mil.
Total Assets at the begining of last year (Dec22) was €74,616.7 Mil.
Long-Term Debt & Capital Lease Obligation was €7,170.2 Mil.
Total Assets was €63,735.3 Mil.
Total Liabilities was €57,295.3 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.

Starwood Property Trust's current Net Income (TTM) was 332.2. ==> 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.

Starwood Property Trust's current Cash Flow from Operations (TTM) was 601.1. ==> 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)
=332.201/63735.348
=0.00521219

ROA (Last Year)=Net Income/Total Assets (Dec22)
=313.904/74616.714
=0.00420689

Starwood Property Trust's return on assets of this year was 0.00521219. Starwood Property Trust's return on assets of last year was 0.00420689. ==> This year is higher. ==> Score 1.

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.

Starwood Property Trust's current Net Income (TTM) was 332.2. Starwood Property Trust's current Cash Flow from Operations (TTM) was 601.1. ==> 601.1 > 332.2 ==> 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
=7807.084/60353.3302
=0.12935631

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=7170.178/68800.4978
=0.10421695

Starwood Property Trust's gearing of this year was 0.12935631. Starwood Property Trust's gearing of last year was 0.10421695. ==> 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
=59741.455/52871.689
=1.12993279

Current Ratio (Last Year: Dec23)=Total Assets/Total Liabilities
=63735.348/57295.273
=1.11240151

Starwood Property Trust's current ratio of this year was 1.12993279. Starwood Property Trust's current ratio of last year was 1.11240151. ==> 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.

Starwood Property Trust's number of shares in issue this year was 337.41. Starwood Property Trust's number of shares in issue last year was 313.366. ==> 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
=332.201/889.625
=0.37341689

Net Margin (Last Year: TTM)=Net Income/Revenue
=313.904/940.307
=0.3338314

Starwood Property Trust's net margin of this year was 0.37341689. Starwood Property Trust's net margin of last year was 0.3338314. ==> 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)
=889.625/63735.348
=0.01395811

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=940.307/74616.714
=0.01260183

Starwood Property Trust's asset turnover of this year was 0.01395811. Starwood Property Trust's asset turnover of last year was 0.01260183. ==> 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+1+1+0+1+0+1+1
=7

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

Starwood Property Trust has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Starwood Property Trust  (STU:VSP) 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.


Starwood Property Trust Piotroski F-Score Related Terms

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Starwood Property Trust Business Description

Traded in Other Exchanges
Address
591 West Putnam Avenue, Greenwich, CT, USA, 06830
Starwood Property Trust Inc is an American real estate investment trust principally engaged in originating, acquiring, and managing commercial mortgage loans and commercial mortgage-backed securities in the U.S. and Europe. The company organizes its activities into Commercial and Residential Lending Segment, Infrastructure Lending Segment, Property Segment and Investing and Servicing Segment. The company generates the majority of its revenue from the Real estate commercial and residential lending segment, which is engaged in originating, acquiring, financing, and managing commercial first mortgages, and non-agency residential mortgages.

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