* 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.
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Kinder Morgan Energy Partners LP Piotroski F-Score Chart
Competitive Comparison of Kinder Morgan Energy Partners LP's Piotroski F-Score
For the Oil & Gas Midstream subindustry, Kinder Morgan Energy Partners LP'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.
Kinder Morgan Energy Partners LP's Piotroski F-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Kinder Morgan Energy Partners LP's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Kinder Morgan Energy Partners LP'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 (Sep14) TTM:
Last Year (Sep13) TTM:
Net Income was 590.57 + 539.358 + 486.496 + 747.288 = €2,364 Mil. Cash Flow from Operations was 869.43 + 776.502 + 864.8 + 952.152 = €3,463 Mil. Revenue was 2533.83 + 2640.396 + 2632.672 + 3052.008 = €10,859 Mil. Gross Profit was 1460 + 1456.122 + 1453.6 + 1779.368 = €6,149 Mil.
Average Total Assets from the begining of this year (Sep13)
to the end of this year (Sep14) was
(31404.78 + 31217.72 + 31781.634 + 32789.536 + 35183.84) / 5 = €32475.502 Mil. Total Assets at the begining of this year (Sep13) was €31,405 Mil. Long-Term Debt & Capital Lease Obligation was €17,089 Mil. Total Current Assets was €2,005 Mil. Total Current Liabilities was €3,089 Mil.
Net Income was 467.868 + 604.476 + 758 + 515.372 = €2,346 Mil.
Revenue was 1912.62 + 2054.292 + 2286.886 + 2528.988 = €8,783 Mil. Gross Profit was 1185.672 + 1315.488 + 1340.902 + 1383.8 = €5,226 Mil.
Average Total Assets from the begining of last year (Sep12)
to the end of last year (Sep13) was
(26068.168 + 24455.628 + 27137.344 + 31388.022 + 31404.78) / 5 = €28090.7884 Mil. Total Assets at the begining of last year (Sep12) was €26,068 Mil. Long-Term Debt & Capital Lease Obligation was €15,141 Mil. Total Current Assets was €1,834 Mil. Total Current Liabilities was €2,572 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.
Kinder Morgan Energy Partners LP's current Net Income (TTM) was 2,364.
==> 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.
Kinder Morgan Energy Partners LP's current Cash Flow from Operations (TTM) was 3,463.
==> 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.
Kinder Morgan Energy Partners LP's return on assets of this year was 0.07526599. Kinder Morgan Energy Partners LP's return on assets of last year was 0.08998392.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Kinder Morgan Energy Partners LP's gearing of this year was 0.52621425. Kinder Morgan Energy Partners LP's gearing of last year was 0.53900289.
==> 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
Kinder Morgan Energy Partners LP's current ratio of this year was 0.64908314. Kinder Morgan Energy Partners LP's current ratio of last year was 0.71299796.
==> 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.
Kinder Morgan Energy Partners LP's number of shares in issue this year was 463. Kinder Morgan Energy Partners LP's number of shares in issue last year was 435.
==> 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.
Kinder Morgan Energy Partners LP's gross margin of this year was 0.56627159. Kinder Morgan Energy Partners LP's gross margin of last year was 0.59501188.
==> Last year's gross 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
Kinder Morgan Energy Partners LP's asset turnover of this year was 0.3457724. Kinder Morgan Energy Partners LP's asset turnover of last year was 0.33691612.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Kinder Morgan Energy Partners LP has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Kinder Morgan Energy Partners LP (FRA:KM7) 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.
Kinder Morgan Energy Partners LP Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Kinder Morgan Energy Partners LP's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Kinder Morgan Energy Partners LP (FRA:KM7) Business Description
Kinder Morgan Energy Partners LP is a Delaware limited partnership formed in August 1992. The Company is engaged in pipeline transportation and energy storage company in North America. They own an interest in or operate approximately 52,000 miles of pipelines and 180 terminals. Its pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2 and other products, and its terminals store petroleum products, ethanol and chemicals, and handle such products as coal, petroleum coke and steel. They are also the producer and transporter of CO2, for enhanced oil recovery projects in North America. Its operations are conducted through our five operating limited partnerships and their subsidiaries and are grouped into five reportable business segments: Natural Gas Pipelines—consists of approximately 40,000 miles of natural gas transmission pipelines and gathering lines, plus natural gas storage, treating and processing facilities, through which natural gas is gathered, transported, stored, treated, processed and sold; O2—which produces, markets and transports, through approximately 1,500 miles of pipelines, CO2 to oil fields that use CO2 to increase production of oil; owns interests in and/or operate four primary oil fields in West Texas; and owns and operates a 450-mile crude oil pipeline system in West Texas; Products Pipelines—consists of approximately 9,000 miles of refined petroleum products and crude oil and condensate pipelines that deliver refined petroleum products (gasoline, diesel fuel and jet fuel), NGL, crude oil, condensate and bio-fuels to various markets; plus approximately 62 associated product terminals and petroleum pipeline transmix processing facilities serving customers across the U.S.; Terminals—consists of approximately 122 owned or operated liquids and bulk terminal facilities and approximately 10 rail transloading and materials handling facilities located throughout the U.S. and portions of Canada, which together transload, store and deliver a wide variety of bulk, petroleum, petrochemical and other liquids products for customers across the U.S. and Canada; and Kinder Morgan Canada—transports crude oil and refined petroleum products through approximately 800 miles of pipelines from Alberta, Canada to marketing terminals and refineries in British Columbia and the state of Washington; plus five associated product terminal facilities. The Company's business operations are subject to federal, state, provincial and local laws and regulations relating to environmental protection, pollution and human health and safety in the U.S. and Canada.
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