Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Big 8 Split has an F-score of 5 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Big 8 Split's Piotroski F-Score or its related term are showing as below:
During the past 9 years, the highest Piotroski F-Score of Big 8 Split was 9999. The lowest was 0. And the median was 0.
Big 8 Split Piotroski F-Score Historical Data
The historical data trend for Big 8 Split'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.
Big 8 Split Annual Data
Trend
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Piotroski F-Score
N/A
N/A
N/A
N/A
N/A
Big 8 Split Semi-Annual Data
Dec09
Dec10
Dec11
Dec12
Jun13
Dec13
Jun14
Dec14
Jun15
Dec15
Jun16
Dec16
Jun17
Dec17
Jun18
Piotroski F-Score
-
N/A
-
N/A
-
Competitive Comparison
For the Asset Management subindustry, Big 8 Split'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.
Big 8 Split Piotroski F-Score Distribution
For the Asset Management industry and Financial Services sector, Big 8 Split's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Big 8 Split's Piotroski F-Score falls in comparison to its industry or sector. The grey bar indicates the Piotroski F-Score's extreme value range as defined by GuruFocus.
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.
*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.
Big 8 Split's current Net Income (TTM) was 2.26.
==> 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.
Big 8 Split's return on assets of this year was 0.07900906. Big 8 Split's return on assets of last year was 0.22837434.
==> 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.
Big 8 Split's current Net Income (TTM) was 2.26. Big 8 Split's current Cash Flow from Operations (TTM) was 1.62.
==> 1.62 <= 2.26 ==> 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.
Big 8 Split's gearing of this year was 0. Big 8 Split's gearing of last year was 0.
==> This year is lower or equal to last year. ==> Score 1.
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.
Big 8 Split's current ratio of this year was 2.84108741. Big 8 Split's current ratio of last year was 2.70711376.
==> 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.
Big 8 Split's number of shares in issue this year was 0. Big 8 Split's number of shares in issue last year was 0.
==> 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.
Big 8 Split's net margin of this year was 0.86480276. Big 8 Split's net margin of last year was 0.93916869.
==> 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
Big 8 Split's asset turnover of this year was 0.09136079. Big 8 Split's asset turnover of last year was 0.24316648.
==> 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
+
0
+
1
+
1
+
1
+
0
+
0
=
5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Big 8 Split has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Big 8 Split (TSX:BIG.PR.D.PFD) 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.
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.
Big 8 Split Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Big 8 Split's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Big 8 Split (TSX:BIG.PR.D.PFD) Business Description
Big 8 Split Inc is a Canada based closed-end investment fund company. Its principal business is to invest in private equity, private debt, and public securities. In private equity investment, the company directly invests in real estate. The group also makes direct investments in mortgages and other debt secured by real estate in private debt investments. Public securities investments include investments in public listed companies that own investment-grade real estate. In addition, the company also offers integrated solutions by combining the three investment strategies into one balanced vehicle for specific investment mandates. Timbercreek Asset Management is the investment fund manager of the company.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
(0%) Dec. 17
Email Alerts
Stock PDF
RSS
Website
Sources
Download
Manual of Stocks™ Web APP
TSX:BIG.PR.D.PFD has been successfully added to your 
