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Reservoir Capital (Reservoir Capital) Piotroski F-Score : 0 (As of May. 14, 2024)


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What is Reservoir Capital 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

Reservoir Capital 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 Reservoir Capital's Piotroski F-Score or its related term are showing as below:


Reservoir Capital Piotroski F-Score Historical Data

The historical data trend for Reservoir Capital'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.

Reservoir Capital Piotroski F-Score Chart

Reservoir Capital Annual Data
Trend Apr11 Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Dec19 Dec20
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.00 3.00 2.00 4.00 4.00

Reservoir Capital Quarterly Data
Oct16 Jan17 Apr17 Jul17 Oct17 Jan18 Apr18 Jul18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
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 2.00 4.00 5.00 4.00 3.00

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 (Sep21) TTM:Last Year (Sep20) TTM:
Net Income was 0.485 + -0.074 + -0.2 + -0.275 = $-0.06 Mil.
Cash Flow from Operations was 0.557 + -0.351 + 0.034 + -0.2 = $0.04 Mil.
Revenue was 1.368 + 0.281 + 0.375 + 0 = $2.02 Mil.
Gross Profit was 1.368 + 0.281 + 0.375 + 0 = $2.02 Mil.
Average Total Assets from the begining of this year (Sep20)
to the end of this year (Sep21) was
(25.41 + 23.893 + 23.729 + 24.349 + 23.656) / 5 = $24.2074 Mil.
Total Assets at the begining of this year (Sep20) was $25.41 Mil.
Long-Term Debt & Capital Lease Obligation was $0.03 Mil.
Total Current Assets was $2.15 Mil.
Total Current Liabilities was $0.93 Mil.
Net Income was -0.09 + -0.141 + 0.843 + 0.302 = $0.91 Mil.

Revenue was 0.574 + 0 + 0.731 + 0.418 = $1.72 Mil.
Gross Profit was 0.574 + 0 + 0.731 + 0.418 = $1.72 Mil.
Average Total Assets from the begining of last year (Sep19)
to the end of last year (Sep20) was
(22.642 + 25.066 + 24.65 + 25.073 + 25.41) / 5 = $24.5682 Mil.
Total Assets at the begining of last year (Sep19) was $22.64 Mil.
Long-Term Debt & Capital Lease Obligation was $0.03 Mil.
Total Current Assets was $1.12 Mil.
Total Current Liabilities was $0.94 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.

Reservoir Capital's current Net Income (TTM) was -0.06. ==> Negative ==> Score 0.

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.

Reservoir Capital's current Cash Flow from Operations (TTM) was 0.04. ==> 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 (Sep20)
=-0.064/25.41
=-0.00251869

ROA (Last Year)=Net Income/Total Assets (Sep19)
=0.914/22.642
=0.04036746

Reservoir Capital's return on assets of this year was -0.00251869. Reservoir Capital's return on assets of last year was 0.04036746. ==> 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.

Reservoir Capital's current Net Income (TTM) was -0.06. Reservoir Capital's current Cash Flow from Operations (TTM) was 0.04. ==> 0.04 > -0.06 ==> 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: Sep21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep20 to Sep21
=0.032/24.2074
=0.00132191

Gearing (Last Year: Sep20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep19 to Sep20
=0.03/24.5682
=0.00122109

Reservoir Capital's gearing of this year was 0.00132191. Reservoir Capital's gearing of last year was 0.00122109. ==> 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

Current Ratio (This Year: Sep21)=Total Current Assets/Total Current Liabilities
=2.152/0.93
=2.31397849

Current Ratio (Last Year: Sep20)=Total Current Assets/Total Current Liabilities
=1.117/0.943
=1.1845175

Reservoir Capital's current ratio of this year was 2.31397849. Reservoir Capital's current ratio of last year was 1.1845175. ==> This year's current ratio is higher. ==> Score 1.

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.

Reservoir Capital's number of shares in issue this year was 5.753. Reservoir Capital's number of shares in issue last year was 5.668. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=2.024/2.024
=1

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1.723/1.723
=1

Reservoir Capital's gross margin of this year was 1. Reservoir Capital's gross margin of last year was 1. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Sep20)
=2.024/25.41
=0.07965368

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep19)
=1.723/22.642
=0.07609752

Reservoir Capital's asset turnover of this year was 0.07965368. Reservoir Capital's asset turnover of last year was 0.07609752. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+1+0+1+0+1+0+0+1
=4

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

Reservoir Capital has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Reservoir Capital  (OTCPK:RSERF) 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.


Reservoir Capital Piotroski F-Score Related Terms

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Reservoir Capital (Reservoir Capital) Business Description

Traded in Other Exchanges
N/A
Address
595 Howe Street, 10th Floor, Vancouver, BC, CAN, V6C 2T5
Reservoir Capital Corp is a clean power investment vehicle concentrating on operational power projects located in emerging markets. The company's investment policy is to take carefully selected minority economic interests in key geographies, target regular dividend income over long periods, and offer capital gains in medium term. The company's acquisition plan is to approach owners of privately-held quality clean energy assets and to offer their investors diversification, liquidity, and exposure to growing balanced portfolio of assets following a disciplined investment policy.

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