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CYNPRC.PFD (City National) Piotroski F-Score : 4 (As of Oct. 31, 2024)


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What is City National Piotroski F-Score?

The zones of discrimination were as such:

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

City National has an F-score of 6 indicating the company's financial situation is typical for a stable company.

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

CYNPRC.PFD' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 4

During the past 13 years, the highest Piotroski F-Score of City National was 7. The lowest was 2. And the median was 5.


City National Piotroski F-Score Historical Data

The historical data trend for City National'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.

City National Piotroski F-Score Chart

City National Annual Data
Trend Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 6.00 5.00 4.00 5.00

City National Quarterly Data
Sep10 Dec10 Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15
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 3.00 5.00 5.00 4.00

Competitive Comparison of City National's Piotroski F-Score

For the Banks - Regional subindustry, City National'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.


City National's Piotroski F-Score Distribution in the Banks Industry

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

* The bar in red indicates where City National'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 (Jun15) TTM:Last Year (Jun14) TTM:
Net Income was 68.651 + 65.956 + 61.566 + 68.499 = $264.67 Mil.
Cash Flow from Operations was 18.432 + 40.755 + 65.827 + 141.793 = $266.81 Mil.
Revenue was 323.693 + 324.875 + 327.655 + 349.414 = $1,325.64 Mil.
Average Total Assets from the begining of this year (Jun14)
to the end of this year (Jun15) was
(30819.092 + 32015.6 + 32610.363 + 32698.899 + 33760.498) / 5 = $32380.8904 Mil.
Total Assets at the begining of this year (Jun14) was $30,819.09 Mil.
Long-Term Debt & Capital Lease Obligation was $640.62 Mil.
Total Assets was $33,760.50 Mil.
Total Liabilities was $30,688.35 Mil.
Net Income was 63.633 + 55.112 + 53.83 + 65.461 = $238.04 Mil.

Revenue was 303.154 + 296.001 + 301.046 + 320.201 = $1,220.40 Mil.
Average Total Assets from the begining of last year (Jun13)
to the end of last year (Jun14) was
(27379.502 + 29059.404 + 29717.951 + 29738.252 + 30819.092) / 5 = $29342.8402 Mil.
Total Assets at the begining of last year (Jun13) was $27,379.50 Mil.
Long-Term Debt & Capital Lease Obligation was $627.77 Mil.
Total Assets was $30,819.09 Mil.
Total Liabilities was $27,965.94 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.

City National's current Net Income (TTM) was 264.67. ==> 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.

City National's current Cash Flow from Operations (TTM) was 266.81. ==> 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 (Jun14)
=264.672/30819.092
=0.00858792

ROA (Last Year)=Net Income/Total Assets (Jun13)
=238.036/27379.502
=0.00869395

City National's return on assets of this year was 0.00858792. City National's return on assets of last year was 0.00869395. ==> 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.

City National's current Net Income (TTM) was 264.67. City National's current Cash Flow from Operations (TTM) was 266.81. ==> 266.81 > 264.67 ==> 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: Jun15)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun14 to Jun15
=640.617/32380.8904
=0.0197838

Gearing (Last Year: Jun14)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun13 to Jun14
=627.768/29342.8402
=0.02139425

City National's gearing of this year was 0.0197838. City National's gearing of last year was 0.02139425. ==> 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.

Current Ratio (This Year: Jun15)=Total Assets/Total Liabilities
=33760.498/30688.35
=1.10010796

Current Ratio (Last Year: Jun14)=Total Assets/Total Liabilities
=30819.092/27965.939
=1.10202243

City National's current ratio of this year was 1.10010796. City National's current ratio of last year was 1.10202243. ==> 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.

City National's number of shares in issue this year was 0. City National'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.

Net Margin (This Year: TTM)=Net Income/Revenue
=264.672/1325.637
=0.19965647

Net Margin (Last Year: TTM)=Net Income/Revenue
=238.036/1220.402
=0.19504721

City National's net margin of this year was 0.19965647. City National's net margin of last year was 0.19504721. ==> 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 (Jun14)
=1325.637/30819.092
=0.0430135

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun13)
=1220.402/27379.502
=0.04457356

City National's asset turnover of this year was 0.0430135. City National's asset turnover of last year was 0.04457356. ==> 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+1+0+1+1+0
=6

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

City National has an F-score of 6 indicating the company's financial situation is typical for a stable company.

City National  (NYSE:CYNPRC.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.

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.


City National Piotroski F-Score Related Terms

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City National Business Description

Traded in Other Exchanges
N/A
Address
City National Corp is a Delaware corporation organized in 1968. It is a bank holding company and a financial holding company. It provides banking, investment and trust services to its clients through its wholly-owned banking subsidiary, City National Bank. The Bank operates through 77 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay area, Nevada, New York City, Nashville, Tennessee and Atlanta, Georgia. The Company provides financial solutions to affluent individuals, entrepreneurs, professionals, their businesses and their families. The Company's segments include, Commercial and Private Banking, & Wealth Management. The Commercial and Private Banking segment provides banking products and services, including commercial and mortgage lending, lines of credit, equipment lease financing, deposits, cash management services, international trade finance and letters of credit. All investment advisory affiliates and the Bank's wealth management services are included in the Wealth Management segment. The Company's principal client base consists of small to mid-sized businesses, entrepreneurs, professionals, and affluent individuals. The Company serves its clients through relationship banking. The Company offers lending, deposit, cash management, international banking, equipment financing, and other products and services. The Bank's wealth management division make available the following investment advisory and wealth management resources to the Company's clients: investment management and advisory services and brokerage services, including portfolio management, securities trading and asset management; personal and business trust and investment services, including employee benefit trust services, 401(k) and defined benefit plans; and estate and financial planning and custodial services. The Company also advises and makes available mutual funds under the name of City National Rochdale Funds. The Bank's wealth management division and the Company's asset management subsidiaries provide both proprietary and nonproprietary products to offer asset classes and investment styles, including fixed-income instruments, mutual funds, domestic and international equities and alternative investments, such as hedge funds. Investment services are provided to institutional as well as individual clients. The Company faces competitive credit and pricing pressure as it competes with other banks and financial organizations. It is subject to extensive regulation under both federal and state law.
Executives
Brian Fitzmaurice officer: EVP & Chief Credit Officer C/O CITY NATIONAL CORPORATION, 555 S. FLOWER ST., 18TH FL., LOS ANGELES CA 90071
Clifford Gilbert-lurie director 555 SOUTH FLOWER STREET, 18TH FLOOR, LOS ANGELES CA 90071
Mohamad Ali director 2 AVENUE DE LAFAYETTE, BOSTON MA 02111
Alison Davis director 255 FISERV DRIVE, BROOKFIELD WI 53045
Richard Gershen officer: EVP & Director WMS CITY NATIONAL BANK, 400 N. ROXBURY DRIVE, BEVERLY HILLS CA 90210
Martin Paretti officer: VP and Controller C/O CITY NATIONAL CORPORATION, 555 S. FLOWER STREET, 18TH FLOOR, LOS ANGELES CA 90071
Olga Tsokova officer: SVP & Chief Accounting Officer C/O CITY NATIONAL CORPORATION, 555 S. FLOWER STREET, 18TH FLOOR, LOS ANGELES CA 90071
Bruce Rosenblum director C/O CITY NATIONAL CORPORATION, 555 S. FLOWER STREET, 18TH FLOOR, LOS ANGELES CA 90071
Ashok Israni director C/O CITY NATIONAL CORPORATION, 555 S. FLOWER STREET, 18TH FL, LOS ANGELES CA 90071
Linda M Griego director SOUTHWEST WATER CO, 624 SO. GRAND, STE 2900, LOS ANGELES CA 90017
James Iii Dowd officer: SVP; Interim Chief Credit Ofcr C/O CITY NATIONAL CORPORATION, 400 N. ROXBURY DRIVE, BEVERLY HILLS CA 90210
Nancy H Gilson officer: VP and Controller C/O CITY NATIONAL CORP, GENERAL COUNSEL, 555 S. FLOWER STREET, 18TH FL, LOS ANGELES CA 90071
Baghdo Akay officer: Senior Risk Management Officer C/O CITY NATIONAL CORP GENERAL COUNSEL, 400 N ROXBURY DRIVE, BEVERLY HILLS CA 90210
Christopher J Carey officer: EVP & Chief Financial Officer C/O CITY NATIONAL CORP., GENERAL COUNSEL, 555 S. FLOWER STREET, 18TH FL, LOS ANGELES CA 90071
Van De Kamp Andrea L director 9665 WILSHIRE BLVD, STE 101, BEVERLY HILLS CA 90212

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