Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Stewart Enterprises, 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 Stewart Enterprises,'s Piotroski F-Score or its related term are showing as below:
Stewart Enterprises, Piotroski F-Score Historical Data
The historical data trend for Stewart Enterprises,'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.
* 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.
Stewart Enterprises,'s current Net Income (TTM) was 31.0.
==> 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.
Stewart Enterprises,'s return on assets of this year was 0.01807558. Stewart Enterprises,'s return on assets of last year was 0.01784742.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Stewart Enterprises,'s gearing of this year was 0.10262274. Stewart Enterprises,'s gearing of last year was 0.14697342.
==> 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
Stewart Enterprises,'s current ratio of this year was 1.34867584. Stewart Enterprises,'s current ratio of last year was 2.15539215.
==> 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.
Stewart Enterprises,'s number of shares in issue this year was 86.374. Stewart Enterprises,'s number of shares in issue last year was 85.255.
==> 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.
Stewart Enterprises,'s gross margin of this year was 0.21685153. Stewart Enterprises,'s gross margin of last year was 0.212435.
==> This year's gross 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
Stewart Enterprises,'s asset turnover of this year was 0.23079609. Stewart Enterprises,'s asset turnover of last year was 0.25631524.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Stewart Enterprises, has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Stewart Enterprises, (FRA:SWX) 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.
Stewart Enterprises, Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Stewart Enterprises,'s Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Stewart Enterprises, (FRA:SWX) Business Description
Stewart Enterprises, Inc. was founded in 1910, and was incorporated as a Louisiana corporation in 1970 in the State of Louisiana. The Company is a provider of funeral and cemetery products and services in the death care industry in the United States. It owns and operates approximately 217 funeral homes and 141 cemeteries in 24 states within the United States and Puerto Rico. It sells cemetery property and funeral and cemetery products and services both at the time of need and on a preneed basis. The Company's funeral homes offer a complete range of funeral and cremation services and products both at the time of need and on a preneed basis. The Company's services and products include family consultation, removal and preparation of remains, the use of funeral home facilities for visitation, worship and funeral services, transportation services, flowers and caskets. Most of its funeral homes have a non-denominational chapel on the premises, which allows family visitation and religious services to take place at the same location. The Company's cemetery operations sell cemetery property and related merchandise, including lots, lawn crypts, family and community mausoleums, monuments, markers and burial vaults, and also provide burial site openings and closings and inscriptions. It also provides cremation memorialization options including columbariums, cremation niches and cremation gardens. Cemetery property and merchandise sales are made both at the time of need and on a preneed basis. The Company's funeral home and cemetery operations face competition in local markets that are served by numerous funeral home and cemetery firms. It also competes with monument dealers, casket retailers, low-cost funeral providers and crematories, and other non-traditional providers of services or products.
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