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Timberland Bancorp (Timberland Bancorp) Piotroski F-Score : 7 (As of Apr. 27, 2024)


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What is Timberland Bancorp 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

Timberland Bancorp 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 Timberland Bancorp's Piotroski F-Score or its related term are showing as below:

TSBK' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 7   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Timberland Bancorp was 8. The lowest was 3. And the median was 7.


Timberland Bancorp Piotroski F-Score Historical Data

The historical data trend for Timberland Bancorp'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.

Timberland Bancorp Piotroski F-Score Chart

Timberland Bancorp Annual Data
Trend Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.00 4.00 5.00 6.00 7.00

Timberland Bancorp Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 8.00 8.00 7.00 7.00

Competitive Comparison of Timberland Bancorp's Piotroski F-Score

For the Banks - Regional subindustry, Timberland Bancorp'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.


Timberland Bancorp's Piotroski F-Score Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Timberland Bancorp's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Timberland Bancorp'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 (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was 6.663 + 6.306 + 6.642 + 6.296 = $25.91 Mil.
Cash Flow from Operations was 5.943 + 7.866 + 7.767 + 4.867 = $26.44 Mil.
Revenue was 18.914 + 18.462 + 18.767 + 17.772 = $73.92 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(1835.544 + 1786.618 + 1807.713 + 1839.905 + 1895.115) / 5 = $1832.979 Mil.
Total Assets at the begining of this year (Dec22) was $1,835.54 Mil.
Long-Term Debt & Capital Lease Obligation was $21.80 Mil.
Total Assets was $1,895.12 Mil.
Total Liabilities was $1,657.75 Mil.
Net Income was 5.327 + 5.738 + 7.05 + 7.507 = $25.62 Mil.

Revenue was 15.168 + 16.073 + 18.261 + 19.499 = $69.00 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(1831.275 + 1877.47 + 1887.795 + 1860.508 + 1835.544) / 5 = $1858.5184 Mil.
Total Assets at the begining of last year (Dec21) was $1,831.28 Mil.
Long-Term Debt & Capital Lease Obligation was $2.00 Mil.
Total Assets was $1,835.54 Mil.
Total Liabilities was $1,612.00 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.

Timberland Bancorp's current Net Income (TTM) was 25.91. ==> 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.

Timberland Bancorp's current Cash Flow from Operations (TTM) was 26.44. ==> 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 (Dec22)
=25.907/1835.544
=0.01411407

ROA (Last Year)=Net Income/Total Assets (Dec21)
=25.622/1831.275
=0.01399134

Timberland Bancorp's return on assets of this year was 0.01411407. Timberland Bancorp's return on assets of last year was 0.01399134. ==> 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.

Timberland Bancorp's current Net Income (TTM) was 25.91. Timberland Bancorp's current Cash Flow from Operations (TTM) was 26.44. ==> 26.44 > 25.91 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=21.796/1832.979
=0.01189103

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=2.001/1858.5184
=0.00107666

Timberland Bancorp's gearing of this year was 0.01189103. Timberland Bancorp's gearing of last year was 0.00107666. ==> 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: Dec23)=Total Assets/Total Liabilities
=1895.115/1657.746
=1.1431878

Current Ratio (Last Year: Dec22)=Total Assets/Total Liabilities
=1835.544/1611.995
=1.13867847

Timberland Bancorp's current ratio of this year was 1.1431878. Timberland Bancorp's current ratio of last year was 1.13867847. ==> 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.

Timberland Bancorp's number of shares in issue this year was 8.166. Timberland Bancorp's number of shares in issue last year was 8.319. ==> 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.

* 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
=25.907/73.915
=0.35049719

Net Margin (Last Year: TTM)=Net Income/Revenue
=25.622/69.001
=0.37132795

Timberland Bancorp's net margin of this year was 0.35049719. Timberland Bancorp's net margin of last year was 0.37132795. ==> Last year's net 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 (Dec22)
=73.915/1835.544
=0.04026872

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=69.001/1831.275
=0.03767921

Timberland Bancorp's asset turnover of this year was 0.04026872. Timberland Bancorp's asset turnover of last year was 0.03767921. ==> 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+1+0+1
=7

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

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

Timberland Bancorp  (NAS:TSBK) 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.


Timberland Bancorp Piotroski F-Score Related Terms

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Timberland Bancorp (Timberland Bancorp) Business Description

Traded in Other Exchanges
N/A
Address
624 Simpson Avenue, Hoquiam, WA, USA, 98550
Timberland Bancorp Inc is a bank holding company. The bank offers a variety of services such as checking accounts, online and mobile banking, savings accounts, home loans, consumer loans, construction loans, business rewards, cash management, small business solutions, and business checking accounts among others. Company also offers loans to real estate, including residential and commercial / multi-family construction loans, one- to four-family residential loans, multi-family loans, commercial real estate loans and land loans. The company mainly operates in the United States.
Executives
Matthew J Debord officer: Chief Lending Officer/EVP 624 SIMPSON AVENUE, HOQUIAM WA 98550
David Alan Smith director 18 WESTVIEW DR, HOQUIAM WA 98550
Breanne D Antich officer: Chief Technology Officer/EVP 624 SIMPSON AVENUE, HOQUIAM WA 98550
Marci A Basich officer: Treasurer 409 FIR STREET, MCLEARY WA 98557
Andrea M Clinton director 4520 GREEN COVE CT NW, OLYMPIA WA 98502
Michael R Sand director, officer: President 128 BEACON HILL DRIVE, HOGUIAM WA 98550
Jonathan Arthur Fischer officer: Senior Vice President PO BOX 1156, COSMOPOLIS WA 98537
Jon C Parker director P O BOX 700, HOGUIAM WA 98550
Parul Bhandari director 1775 I STREET NW, SUITE 910, WASHINGTON DC 20006
Foster Edward Colman officer: Senior Vice President 624 SIMPSON AVENUE, HOQUIAM WA 98550
Larry David Goldberg director 1801 SHERWOOD LANE, ABERDEEN WA 98520
Michael John Stoney director P.O. BOX 226, MCCLEARY WA 98557
Dean J Brydon officer: CFO 55 BAY BERRY DRIVE, HOGUIAM WA 98550
Daniel D Yerrington director 624 SIMPSON AVENUE, HOQUIAM WA 98550
Kelly Suter director 624 SIMPSON AVENUE, HOQUIAM WA 98550