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Track Group (Track Group) Piotroski F-Score : 5 (As of May. 11, 2024)


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What is Track Group 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

Track Group 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 Track Group's Piotroski F-Score or its related term are showing as below:

TRCK' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 7
Current: 5

During the past 13 years, the highest Piotroski F-Score of Track Group was 7. The lowest was 3. And the median was 5.


Track Group Piotroski F-Score Historical Data

The historical data trend for Track Group'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.

Track Group Piotroski F-Score Chart

Track Group Annual Data
Trend Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 3.00 6.00 3.00 5.00

Track Group 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 3.00 3.00 3.00 5.00 5.00

Competitive Comparison of Track Group's Piotroski F-Score

For the Scientific & Technical Instruments subindustry, Track Group'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.


Track Group's Piotroski F-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Track Group's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Track Group'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 -1.485 + -0.697 + -1.245 + 0 = $-3.43 Mil.
Cash Flow from Operations was -0.195 + 0.817 + 0.926 + 0.642 = $2.19 Mil.
Revenue was 8.308 + 8.698 + 8.615 + 8.967 = $34.59 Mil.
Gross Profit was 3.743 + 3.664 + 3.71 + 4.204 = $15.32 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(45.653 + 42.836 + 41.229 + 40.245 + 40.61) / 5 = $42.1146 Mil.
Total Assets at the begining of this year (Dec22) was $45.65 Mil.
Long-Term Debt & Capital Lease Obligation was $43.04 Mil.
Total Current Assets was $10.86 Mil.
Total Current Liabilities was $6.17 Mil.
Net Income was 0.452 + -3.605 + -3.932 + 0.036 = $-7.05 Mil.

Revenue was 9.484 + 8.974 + 8.915 + 8.856 = $36.23 Mil.
Gross Profit was 4.539 + 3.964 + 4.05 + 4.181 = $16.73 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(52.473 + 51.344 + 46.332 + 44.681 + 45.653) / 5 = $48.0966 Mil.
Total Assets at the begining of last year (Dec21) was $52.47 Mil.
Long-Term Debt & Capital Lease Obligation was $43.30 Mil.
Total Current Assets was $13.09 Mil.
Total Current Liabilities was $7.15 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.

Track Group's current Net Income (TTM) was -3.43. ==> 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.

Track Group's current Cash Flow from Operations (TTM) was 2.19. ==> 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)
=-3.427/45.653
=-0.07506626

ROA (Last Year)=Net Income/Total Assets (Dec21)
=-7.049/52.473
=-0.13433575

Track Group's return on assets of this year was -0.07506626. Track Group's return on assets of last year was -0.13433575. ==> This year is higher. ==> Score 1.

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.

Track Group's current Net Income (TTM) was -3.43. Track Group's current Cash Flow from Operations (TTM) was 2.19. ==> 2.19 > -3.43 ==> 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
=43.036/42.1146
=1.0218784

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=43.303/48.0966
=0.90033391

Track Group's gearing of this year was 1.0218784. Track Group's gearing of last year was 0.90033391. ==> 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
=10.859/6.17
=1.75996759

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=13.094/7.154
=1.83030472

Track Group's current ratio of this year was 1.75996759. Track Group's current ratio of last year was 1.83030472. ==> 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.

Track Group's number of shares in issue this year was 11.864. Track Group's number of shares in issue last year was 11.864. ==> 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
=15.321/34.588
=0.44295709

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=16.734/36.229
=0.46189517

Track Group's gross margin of this year was 0.44295709. Track Group's gross margin of last year was 0.46189517. ==> 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)
=34.588/45.653
=0.7576282

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=36.229/52.473
=0.69043127

Track Group's asset turnover of this year was 0.7576282. Track Group's asset turnover of last year was 0.69043127. ==> 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+1+1+0+0+1+0+1
=5

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

Track Group has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Track Group  (OTCPK:TRCK) 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.


Track Group Piotroski F-Score Related Terms

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Track Group (Track Group) Business Description

Traded in Other Exchanges
Address
200 E. 5th Avenue, Suite 100, Naperville, IL, USA, 60563
Track Group Inc designs, manufactures, and markets location-tracking devices and develops and sells a variety of related software, services, accessories, networking solutions, and monitoring applications. Its products and services include ReliAlert XC4, TrackerPAL, TrackerPAL Mobile, a portfolio of software applications including predictive analytics, a device-agnostic operating system, and a variety of accessories, services, and support offerings. The company sells products across the world through its direct sales team and resellers. It sells to government customers on federal, state, and local levels in the United States and to members of the Ministry of Justice internationally. Geographically, it derives a majority of its revenue from the United States.
Executives
Conrent Invest S.a. 10 percent owner 19 RUE DE BITBOURG, LUXEMBOURG N4 L-1273
Matthew J. Swando officer: CHIEF REVENUE OFFICER C/O TRACK GROUP, INC., 200 E 5TH AVE, SUITE 100, NAPERVILLE IL 60563
Karim Sehnaoui director 57 ROUTE DE CHENE, GENEVA V8 1208
Derek Cassell officer: Chief Executive Officer 200 E. 5TH AVE., SUITE 100, NAPERVILLE IL 60563
Van Daele Dirk Karel director BERGSTRASSE 6, HORGEN V8 CH8810
Peter K Poli officer: CHIEF FINANCIAL OFFICER 1215 W. LAKEVIEW COURT, ROMEOVILLE IL 60446
Ray O Johnson director C/O RIGETTI & CO., INC., 775 HEINZ AVENUE, BERKELEY CA 94710
Charles Eric Rosenblum director 405 SOUTH MAIN STREET, SUITE 700, SALT LAKE CITY UT 84111
Karen M Macleod director C/O TRACK GROUP, INC., 200 E 5TH AVENUE STE 100, NAPERVILLE IL 60563
John R Merrill officer: Chief Financial Officer 4222 HILLTOP DRIVE, PARK CITY UT 84098
Sapinda Asia Ltd 10 percent owner 8TH FLOOR, HANG SENG BANK BUILDING, 200 HENNESSEY ROAD, WANCHAI, HONG KONG K3 00000
Safety Invest S.a. 10 percent owner 19 RUE DE BITBOURG, LUXEMBOURG N4 L-1273
Winfried Kunz director AM GASTEIG 9, TRAUBING 2M 82327
Guy Dubois director, 10 percent owner C/O POLLEKE III, SEESTRASSE 227, KILCHBERG V8 CH8802
Lars Windhorst 10 percent owner C/O SAPINDA ASIA LTD, RMS 803-4, 8TH FLR, HANG SENG WANCHAI BLDG, 200 HENNESY ROAD, WANCHAI K3 999077

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