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The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Northfield Bancorp has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Northfield Bancorp's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Northfield Bancorp was 7. The lowest was 3. And the median was 5.
The historical data trend for Northfield 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.
Northfield Bancorp Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 3.00 | 4.00 | 7.00 | 4.00 | 4.00 |
Northfield Bancorp Quarterly Data | ||||||||||||||||||||
Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
Piotroski F-Score | Get a 7-Day Free Trial | 5.00 | 4.00 | 5.00 | 4.00 | - |
For the Banks - Regional subindustry, Northfield 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.
For the Banks industry and Financial Services sector, Northfield Bancorp's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Northfield 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 11.707 + 9.559 + 8.181 + 8.222 = $37.7 Mil. Cash Flow from Operations was 17.751 + 3.268 + 11.665 + 14.286 = $47.0 Mil. Revenue was 38.228 + 33.977 + 31.813 + 32.545 = $136.6 Mil. Average Total Assets from the begining of this year (Dec22) to the end of this year (Dec23) was (5601.293 + 5663.173 + 5540.815 + 5437.084 + 5598.396) / 5 = $5568.1522 Mil. Total Assets at the begining of this year (Dec22) was $5,601.3 Mil. Long-Term Debt & Capital Lease Obligation was $836.2 Mil. Total Assets was $5,598.4 Mil. Total Liabilities was $4,899.0 Mil. |
Net Income was 14.127 + 15.874 + 16.979 + 14.139 = $61.1 Mil. Revenue was 38.582 + 40.85 + 44.297 + 42.56 = $166.3 Mil. Average Total Assets from the begining of last year (Dec21) to the end of last year (Dec22) was (5430.542 + 5516.29 + 5647.151 + 5669.595 + 5601.293) / 5 = $5572.9742 Mil. Total Assets at the begining of last year (Dec21) was $5,430.5 Mil. Long-Term Debt & Capital Lease Obligation was $659.6 Mil. Total Assets was $5,601.3 Mil. Total Liabilities was $4,899.9 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.
Northfield Bancorp's current Net Income (TTM) was 37.7.
==> 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.
Northfield Bancorp's current Cash Flow from Operations (TTM) was 47.0.
==> 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) |
= | 37.669 | / | 5601.293 | |
= | 0.00672505 |
ROA (Last Year) | = | Net Income | / | Total Assets (Dec21) |
= | 61.119 | / | 5430.542 | |
= | 0.01125468 |
Northfield Bancorp's return on assets of this year was 0.00672505. Northfield Bancorp's return on assets of last year was 0.01125468.
==> 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.
Northfield Bancorp's current Net Income (TTM) was 37.7. Northfield Bancorp's current Cash Flow from Operations (TTM) was 47.0.
==> 47.0 > 37.7 ==> 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 |
= | 836.196 | / | 5568.1522 | |
= | 0.15017477 |
Gearing (Last Year: Dec22) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec21 to Dec22 |
= | 659.645 | / | 5572.9742 | |
= | 0.11836498 |
Northfield Bancorp's gearing of this year was 0.15017477. Northfield Bancorp's gearing of last year was 0.11836498.
==> 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 |
= | 5598.396 | / | 4898.951 | |
= | 1.14277444 |
Current Ratio (Last Year: Dec22) | = | Total Assets | / | Total Liabilities |
= | 5601.293 | / | 4899.903 | |
= | 1.14314365 |
Northfield Bancorp's current ratio of this year was 1.14277444. Northfield Bancorp's current ratio of last year was 1.14314365.
==> 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.
Northfield Bancorp's number of shares in issue this year was 42.772. Northfield Bancorp's number of shares in issue last year was 45.781.
==> 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 |
= | 37.669 | / | 136.563 | |
= | 0.27583606 |
Net Margin (Last Year: TTM) | = | Net Income | / | Revenue |
= | 61.119 | / | 166.289 | |
= | 0.36754686 |
Northfield Bancorp's net margin of this year was 0.27583606. Northfield Bancorp's net margin of last year was 0.36754686.
==> 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) |
= | 136.563 | / | 5601.293 | |
= | 0.02438062 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Dec21) |
= | 166.289 | / | 5430.542 | |
= | 0.03062107 |
Northfield Bancorp's asset turnover of this year was 0.02438062. Northfield Bancorp's asset turnover of last year was 0.03062107.
==> 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 | + | 0 | + | 0 | + | 1 | + | 0 | + | 0 | |
= | 4 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Northfield Bancorp has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Northfield Bancorp (NAS:NFBK) 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.
Thank you for viewing the detailed overview of Northfield Bancorp's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Patrick Louis Ryan | director | 581 MAIN STREET, SUITE 810, WOODBRIDGE NJ 07095 |
Vickie Tomasello | officer: EVP/Chief Risk Officer | 581 MAIN STREET, WOODBRIDGE NJ 07095 |
Steven M Klein | officer: COO and CFO | 581 MAIN STREET, SUITE 810, WOODBRIDGE NJ 07095 |
David Fasanella | officer: EVP | 581 MAIN STREET, SUITE 810, WOODBRIDGE NJ 07095 |
William R. Jacobs | officer: SVP and PAO | 581 MAIN STREET, SUITE 810, WOODBRIDGE NJ 07095 |
Robin Lefkowitz | officer: EVP | 581 MAIN STREET, SUITE 810, WOODBRIDGE NJ 07095 |
Frank P. Patafio | director | 581 MAIN STREET, SUITE 810, WOODBRIDGE NJ 07095 |
Gil Chapman | director | 581 MAIN STREET, SUITE 810, WOODBRIDGE NJ 07095 |
Connors John P Jr | director | 581 MAIN STREET, SUITE 810, WOODBRIDGE NJ 07095 |
Gualberto Medina | director | 581 MAIN STREET, WOODBRIDGE NJ 07095 |
Tara L French | officer: EVP/Chief Admin. Officer | 581 MAIN STREET, SUITE 810, WOODBRIDGE NJ 07095 |
Paul Stahlin | director | 581 MAIN STREET, SUITE 810, WOODBRIDGE NJ 07095 |
Michael J Widmer | officer: EVP | 1410 ST. GEORGES AVENUE, AVENEL NJ 07001 |
Annette Catino | director | 581 MAIN STREET, SUITE 810, WOODBRIDGE NJ 07095 |
John Wade Alexander | director, officer: President and CEO | 1410 ST. GEORGES AVENUE, AVENEL NJ 07001 |
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