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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
OneMain Holdings 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 OneMain Holdings's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of OneMain Holdings was 8. The lowest was 2. And the median was 6.
The historical data trend for OneMain Holdings'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.
OneMain Holdings Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 7.00 | 5.00 | 7.00 | 5.00 | 4.00 |
OneMain Holdings Quarterly Data | ||||||||||||||||||||
Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | |
Piotroski F-Score | Get a 7-Day Free Trial | 4.00 | 4.00 | 5.00 | 4.00 | 5.00 |
For the Credit Services subindustry, OneMain Holdings'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 Credit Services industry and Financial Services sector, OneMain Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where OneMain Holdings'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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Net Income was 165 + 155 + 71 + 157 = $548 Mil. Cash Flow from Operations was 678 + 558 + 712 + 677 = $2,625 Mil. Revenue was 1105 + 1076 + 1108 + 1164 = $4,453 Mil. Average Total Assets from the begining of this year (Sep23) to the end of this year (Sep24) was (24146 + 24294 + 23908 + 25085 + 25578) / 5 = $24602.2 Mil. Total Assets at the begining of this year (Sep23) was $24,146 Mil. Long-Term Debt & Capital Lease Obligation was $20,961 Mil. Total Assets was $25,578 Mil. Total Liabilities was $22,370 Mil. |
Net Income was 176 + 179 + 103 + 194 = $652 Mil. Revenue was 1061 + 1032 + 1058 + 1085 = $4,236 Mil. Average Total Assets from the begining of last year (Sep22) to the end of last year (Sep23) was (22341 + 22537 + 22443 + 23511 + 24146) / 5 = $22995.6 Mil. Total Assets at the begining of last year (Sep22) was $22,341 Mil. Long-Term Debt & Capital Lease Obligation was $19,851 Mil. Total Assets was $24,146 Mil. Total Liabilities was $21,037 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.
OneMain Holdings's current Net Income (TTM) was 548.
==> 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.
OneMain Holdings's current Cash Flow from Operations (TTM) was 2,625.
==> 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 (Sep23) |
= | 548 | / | 24146 | |
= | 0.02269527 |
ROA (Last Year) | = | Net Income | / | Total Assets (Sep22) |
= | 652 | / | 22341 | |
= | 0.02918401 |
OneMain Holdings's return on assets of this year was 0.02269527. OneMain Holdings's return on assets of last year was 0.02918401.
==> 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.
OneMain Holdings's current Net Income (TTM) was 548. OneMain Holdings's current Cash Flow from Operations (TTM) was 2,625.
==> 2,625 > 548 ==> 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: Sep24) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Sep23 to Sep24 |
= | 20961 | / | 24602.2 | |
= | 0.85199698 |
Gearing (Last Year: Sep23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Sep22 to Sep23 |
= | 19851 | / | 22995.6 | |
= | 0.8632521 |
OneMain Holdings's gearing of this year was 0.85199698. OneMain Holdings's gearing of last year was 0.8632521.
==> 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: Sep24) | = | Total Assets | / | Total Liabilities |
= | 25578 | / | 22370 | |
= | 1.14340635 |
Current Ratio (Last Year: Sep23) | = | Total Assets | / | Total Liabilities |
= | 24146 | / | 21037 | |
= | 1.14778723 |
OneMain Holdings's current ratio of this year was 1.14340635. OneMain Holdings's current ratio of last year was 1.14778723.
==> 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.
OneMain Holdings's number of shares in issue this year was 120.118. OneMain Holdings's number of shares in issue last year was 120.755.
==> 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 |
= | 548 | / | 4453 | |
= | 0.1230631 |
Net Margin (Last Year: TTM) | = | Net Income | / | Revenue |
= | 652 | / | 4236 | |
= | 0.15391879 |
OneMain Holdings's net margin of this year was 0.1230631. OneMain Holdings's net margin of last year was 0.15391879.
==> 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 (Sep23) |
= | 4453 | / | 24146 | |
= | 0.18441978 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Sep22) |
= | 4236 | / | 22341 | |
= | 0.18960655 |
OneMain Holdings's asset turnover of this year was 0.18441978. OneMain Holdings's asset turnover of last year was 0.18960655.
==> 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 | + | 0 | + | 0 | |
= | 5 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
OneMain Holdings has an F-score of 5 indicating the company's financial situation is typical for a stable company.
OneMain Holdings (NYSE:OMF) 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 OneMain Holdings's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Douglas H. Shulman | director, officer: President and CEO | C/O ONEMAIN HOLDINGS, INC., 601 N.W. SECOND STREET, EVANSVILLE IN 47708 |
Michael A Hedlund | officer: principal accounting officer | C/O ONEMAIN HOLDINGS, INC., 601 N.W. SECOND STREET, EVANSVILLE IN 47708 |
Micah R. Conrad | officer: EVP and CFO | C/O ONEMAIN HOLDINGS, INC., 601 N.W. SECOND STREET, EVANSVILLE IN 47708 |
Rajive Chadha | officer: Chief Operating Officer & EVP | C/O ONEMAIN HOLDINGS, INC., 601 N.W. SECOND STREET, EVANSVILLE IN 47708 |
Toos Daruvala | director | 12 SYCAMORE ROAD, SCARSDALE NY 10583 |
Philip Bronner | director | C/O ONEMAIN HOLDINGS, INC., 601 N.W. SECOND STREET, EVANSVILLE IN 47708 |
Uniform Investco Sub L.p. | other: See Remarks | C/O VARDE PARTNERS, 901 MARQUETTE AVENUE SOUTH, SUITE 3300, MINNEAPOLIS MN 55402 |
Apollo Management Holdings Gp, Llc | 10 percent owner | 9 W. 57TH STREET, 43RD FLOOR, NEW YORK NY 10019 |
Phyllis R Caldwell | director | AMERICAN CAPITAL, LTD., 2 BETHESDA METRO CENTER, 12TH FLOOR, BETHESDA MD 20814 |
George G Hicks | other: See Remarks | 901 MARQUETTE AVENUE SOUTH, SUITE 3300, MINNEAPOLIS MN 55402 |
Jay N. Levine | director, officer: President and CEO | C/O ONEMAIN HOLDINGS, INC., 601 N.W. SECOND STREET, EVANSVILLE IN 47708 |
Lisa Green Hall | director | C/O ONEMAIN HOLDINGS, INC., 601 N.W. SECOND STREET, EVANSVILLE IN 47708 |
Richard A Smith | director | 175 PARK AVENUE, MADISON NJ 07940 |
Varde Investment Partners Ugp, Llc | other: See Remarks | C/O VARDE PARTNERS, 901 MARQUETTE AVENUE, SUITE 3300, MINNEAPOLIS MN 55402 |
Varde Skyway Fund Ugp, Llc | other: See Remarks | C/O VARDE PARTNERS, 901 MARQUETTE AVENUE, SUITE 3300, MINNEAPOLIS MN 55402 |
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