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Ryerson Holding (Ryerson Holding) Piotroski F-Score : 4 (As of Apr. 30, 2024)


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What is Ryerson Holding 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

Ryerson Holding 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 Ryerson Holding's Piotroski F-Score or its related term are showing as below:

RYI' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 8
Current: 4

During the past 13 years, the highest Piotroski F-Score of Ryerson Holding was 8. The lowest was 2. And the median was 6.


Ryerson Holding Piotroski F-Score Historical Data

The historical data trend for Ryerson Holding'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.

Ryerson Holding Piotroski F-Score Chart

Ryerson Holding Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 4.00 7.00 8.00 4.00

Ryerson Holding Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 8.00 6.00 5.00 5.00 4.00

Competitive Comparison of Ryerson Holding's Piotroski F-Score

For the Metal Fabrication subindustry, Ryerson Holding'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.


Ryerson Holding's Piotroski F-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Ryerson Holding's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Ryerson Holding'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 47.3 + 37.6 + 35 + 25.8 = $146 Mil.
Cash Flow from Operations was 80.4 + 115.3 + 79.3 + 90.1 = $365 Mil.
Revenue was 1406.1 + 1343.5 + 1246.7 + 1112.4 = $5,109 Mil.
Gross Profit was 264.2 + 260.9 + 249.3 + 247.2 = $1,022 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(2334.3 + 2401.5 + 2521.5 + 2434.2 + 2569.6) / 5 = $2452.22 Mil.
Total Assets at the begining of this year (Dec22) was $2,334 Mil.
Long-Term Debt & Capital Lease Obligation was $765 Mil.
Total Current Assets was $1,383 Mil.
Total Current Liabilities was $634 Mil.
Net Income was 163.6 + 196.4 + 55.1 + -24.1 = $391 Mil.

Revenue was 1748.8 + 1743.5 + 1543.1 + 1288.2 = $6,324 Mil.
Gross Profit was 410.1 + 465.9 + 271 + 163.1 = $1,310 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(2365.6 + 2548.7 + 2682.9 + 2547.2 + 2334.3) / 5 = $2495.74 Mil.
Total Assets at the begining of last year (Dec21) was $2,366 Mil.
Long-Term Debt & Capital Lease Obligation was $576 Mil.
Total Current Assets was $1,442 Mil.
Total Current Liabilities was $619 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.

Ryerson Holding's current Net Income (TTM) was 146. ==> 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.

Ryerson Holding's current Cash Flow from Operations (TTM) was 365. ==> 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)
=145.7/2334.3
=0.062417

ROA (Last Year)=Net Income/Total Assets (Dec21)
=391/2365.6
=0.16528576

Ryerson Holding's return on assets of this year was 0.062417. Ryerson Holding's return on assets of last year was 0.16528576. ==> 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.

Ryerson Holding's current Net Income (TTM) was 146. Ryerson Holding's current Cash Flow from Operations (TTM) was 365. ==> 365 > 146 ==> 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
=765.1/2452.22
=0.312003

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=576.3/2495.74
=0.23091348

Ryerson Holding's gearing of this year was 0.312003. Ryerson Holding's gearing of last year was 0.23091348. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=1383.4/633.9
=2.18236315

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=1441.6/619.2
=2.32816537

Ryerson Holding's current ratio of this year was 2.18236315. Ryerson Holding's current ratio of last year was 2.32816537. ==> 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.

Ryerson Holding's number of shares in issue this year was 34.697. Ryerson Holding's number of shares in issue last year was 37.634. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=1021.6/5108.7
=0.1999726

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1310.1/6323.6
=0.20717629

Ryerson Holding's gross margin of this year was 0.1999726. Ryerson Holding's gross margin of last year was 0.20717629. ==> 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 (Dec22)
=5108.7/2334.3
=2.18853618

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=6323.6/2365.6
=2.67314846

Ryerson Holding's asset turnover of this year was 2.18853618. Ryerson Holding's asset turnover of last year was 2.67314846. ==> 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

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

Ryerson Holding  (NYSE:RYI) 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.


Ryerson Holding Piotroski F-Score Related Terms

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Ryerson Holding (Ryerson Holding) Business Description

Traded in Other Exchanges
Address
227 West Monroe Street, 27th Floor, Chicago, IL, USA, 60606
Ryerson Holding Corp provides a metals service center, and value-added processor and is a distributor of industrial metals with operations in the United States, Canada and Mexico. In addition to its North American operations, it conducts processing and distribution operations in China. Its customers range from local, independently owned fabricators and machine shops to large, international original equipment manufacturers. It carries a full line of products in stainless steel, aluminium, carbon steel, and alloy steels and a limited line of nickel and red metals in various shapes and forms. The company generates substantially all of its revenue from sales of metal products. Geographically, the majority is from the United States.
Executives
Alagu Sundarrajan officer: Chief Information Officer 227 W. MONROE ST., 27TH FLOOR, CHICAGO IL 60606
Edward J. Lehner director, officer: President & CEO C/O RYERSON HOLDING CORPORATION, 227 W. MONROE ST., 27TH FLOOR, CHICAGO IL 60606
Mark S. Silver officer: EVP, GC & Chief HR Officer C/O RYERSON HOLDING CORPORATION, 227 W MONROE ST, 27TH FLOOR, CHICAGO IL 60606
Molly D Kannan officer: CAO & Corporate Controller 227 W MONROE ST 27TH FLOOR, CHICAGO IL 60606
Kirk K Calhoun director 8285 EL RIO STREET, SUITE 130, HOUSTON TX 77054
Carruthers Court D director C/O RYERSON HOLDING CORPORATION, 227 W. MONROE ST., 27TH FLOOR, CHICAGO IL 60606
Stephen P. Larson director C/O RYERSON HOLDING CORPORATION, 227 WEST MONROE, 27TH FLOOR, CHICAGO IL 60606
Platinum Equity Llc 10 percent owner 360 NORTH CRESCENT DRIVE, BEVERLY HILLS CA 90210
James J Claussen officer: Executive Vice President & CFO 227 W. MONROE ST., 27TH FLOOR, CHICAGO IL 60606
John E Orth officer: EVP, Operations 227 W. MONROE ST., 27TH FLOOR, CHICAGO IL 60606
Michael Burbach officer: Chief Operating Officer C/O RYERSON HOLDING CORPORATION, 227 W. MONROE ST., 27TH FLOOR, CHICAGO IL 60606
Tom Gores 10 percent owner C/O PLATINUM EQUITY, 360 NORTH CRESCENT DRIVE, SOUTH BUILDING, BEVERLY HILLS CA 90210
Ryps, Llc 10 percent owner 360 NORTH CRESCENT DRIVE, SOUTH BUILDING, BEVERLY HILLS CA 90210
Platinum Equity Partners Ii, Llc 10 percent owner C/O PLATINUM EQUITY, 360 NORTH CRESCENT DRIVE, SOUTH BUILDING, BEVERLY HILLS CA 90210
Platinum Equity Investment Holdings Ii, Llc 10 percent owner C/O PLATINUM EQUITY, 360 NORTH CRESCENT DRIVE, SOUTH BUILDING, BEVERLY HILLS CA 90210

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