* 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.
Scripps Networks Interactive's current Net Income (TTM) was 624.
==> 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.
Scripps Networks Interactive's current Cash Flow from Operations (TTM) was 1,056.
==> 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.
Scripps Networks Interactive's return on assets of this year was 0.10062991. Scripps Networks Interactive's return on assets of last year was 0.10095373.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Scripps Networks Interactive's gearing of this year was 0.39508125. Scripps Networks Interactive's gearing of last year was 0.45184046.
==> 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
Scripps Networks Interactive's current ratio of this year was 3.05008111. Scripps Networks Interactive's current ratio of last year was 2.31406457.
==> 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.
Scripps Networks Interactive's number of shares in issue this year was 131.405. Scripps Networks Interactive's number of shares in issue last year was 130.35.
==> 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.
Scripps Networks Interactive's gross margin of this year was 0.6479332. Scripps Networks Interactive's gross margin of last year was 0.64919865.
==> 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
Scripps Networks Interactive's asset turnover of this year was 0.57445776. Scripps Networks Interactive's asset turnover of last year was 0.50978341.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
=
Que. 1
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+
Que. 4
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Que. 6
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Que. 7
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Que. 9
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1
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1
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0
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1
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1
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1
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0
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1
=
6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Scripps Networks Interactive has an F-score of 6 indicating the company's financial situation is typical for a stable company.
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.
Scripps Networks Interactive Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Scripps Networks Interactive's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Scripps Networks Interactive (Scripps Networks Interactive) Business Description
Scripps is a vertically integrated content company that operates six domestic cable channels and owns 98% of the content that airs on its channels. Spun off from E.W. Scripps in 2008, Scripps' three largest networks (Food Network, HGTV, and Travel Channel) reach over 90 million households subscribing to basic cable in the U.S. While two (HGTV and Food Network) networks regularly rank within the top 25 networks in the U.S., Scripps has very little exposure to international markets with only 3% of revenue earned from outside the U.S.
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