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Mohanram G-Score is a financial indicator developed by professor Partha Mohanram to help investors find the best investment opportunities in the growth stocks. Companies have higher G-score tends to generate higher return. According to his study, the best growth stocks that have a G-Score greater than 6 tend to beat the market, while those with a G-Score lower than 1 tend to have negative absolute returns.
Thus, the zones of discrimination were as such:
Good or high score = 6, 7, 8
Bad or low score = 0, 1
Pure Cycle has an G-score of 1. It is a bad or low score, which tends to have negative absolute returns.
The historical rank and industry rank for Pure Cycle's Mohanram G-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski G-score of Pure Cycle was 5. The lowest was 0. And the median was 2.
The historical data trend for Pure Cycle's Mohanram G-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.
Pure Cycle Annual Data | |||||||||||||||||||||
Trend | Aug14 | Aug15 | Aug16 | Aug17 | Aug18 | Aug19 | Aug20 | Aug21 | Aug22 | Aug23 | |||||||||||
Mohanram G-Score | Get a 7-Day Free Trial | 4.00 | 5.00 | 3.00 | 4.00 | 2.00 |
Pure Cycle Quarterly Data | ||||||||||||||||||||
May19 | Aug19 | Nov19 | Feb20 | May20 | Aug20 | Nov20 | Feb21 | May21 | Aug21 | Nov21 | Feb22 | May22 | Aug22 | Nov22 | Feb23 | May23 | Aug23 | Nov23 | Feb24 | |
Mohanram G-Score | Get a 7-Day Free Trial | 2.00 | 4.00 | 2.00 | 2.00 | 1.00 |
For the Utilities - Regulated Water subindustry, Pure Cycle's Mohanram G-Score, along with its competitors' market caps and Mohanram G-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 Utilities - Regulated industry and Utilities sector, Pure Cycle's Mohanram G-Score distribution charts can be found below:
* The bar in red indicates where Pure Cycle's Mohanram G-Score falls into.
The calculation of the Mohanram G-score consists of eight criteria. Assign one point for each criterion met, then add up all the points to get the G-Score.
Profitability
Question 1. Return on Assets (ROA)
ROA % is calculated as Net Income divided by its average Total Assets over a certain period of time. It measures how well a company uses its asset to generate earnings.
Score 1 if ROA > ROA Industry Median, 0 otherwise.
Question 2. Cash ROA
Cash ROA equals to Cash Flow from Operations divided by average Total Assets. It measures how well a company uses its asset to generate cash.
Score 1 if Cash ROA > Cash ROA Industry Median, 0 otherwise.
Question 3. CFO and Net Income
Score 1 if CFO > Net Income, 0 otherwise.
Earnings Predictability
Question 4. Earnings Variability
Earnings Variability is measured as the variance of a firm's ROA in the past five years.
Score 1 if Earnings Variability < Earnings Variability Industry Median, 0 otherwise.
Question 5. Sales Growth Variability
Sales Growth Variability is measured as the 5-year variance in sales growth.
Score 1 if Sales Growth Variability < Sales Growth Variability Industry Median, 0 otherwise.
Accounting Conservatism
Question 6. Research & Development Intensity
Research & Development Intensity is calcualted by Research & Development divided by the beginning Total Assets.
Score 1 if Research & Development Intensity > Research & Development Intensity Industry Median, 0 otherwise.
Question 7. CAPEX Intensity
CAPEX Intensity is calcualted by Capital Expenditure divided by the beginning Total Assets.
Score 1 if CAPEX Intensity > CAPEX Intensity Industry Median, 0 otherwise.
Question 8. Advertising Expenditure Intensity
Advertising Expenditure Intensity is calcualted by Advertising Expenditure divided by the beginning Total Assets. Note that Advertising Expenditure is not reported as a seperate line item for many companies, thus Selling, General, & Admin. Expense is used in this calculation.
Score 1 if Advertising Expenditure Intensity > Advertising Expenditure Intensity Industry Median, 0 otherwise.
* 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 that all the Industry Median used for comparison in his original research, are substituted with Sector Median due to the limitation of data within certain countries.
Good or high score = 6, 7, 8
Bad or low score = 0, 1
Pure Cycle has an G-score of 1. It is a bad or low score, which tends to have negative absolute returns.
Pure Cycle (NAS:PCYO) Mohanram G-Score Explanation
Partha Mohanram is the John H. Watson Chair in Value Investing at Rotman and the Acting Vice-Dean of Research Strategy and Resources.
In 2000, he wrote a research paper called "Separating Winners from Losers Among Low Book-to-Market Stocks Using Financial Statement Analysis".
This paper tests whether a strategy based on financial statement analysis of low book-to-market (growth) stocks is successful in differentiating between winners and losers in terms of future stock performance. Based on the research, a strategy based on buying high G-score (6, 7 or 8) firms and shorting low G-score (0 or 1) firms consistently earns significant excess returns. Further, the results do not support a risk based explanation for the book-to-market effect as the strategy returns positive returns in all years, and firms that ex-ante appear less risky have better future returns.
To conclude, one can use a modified fundamental analysis strategy (G-score) to identify mispricing and earn substantial abnormal returns.
Thank you for viewing the detailed overview of Pure Cycle's Mohanram G-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Mark W Harding | director, officer: President and CFO | 8451 DELAWARE STREET, THORNTON CO 80260 |
Marc Stephen Spezialy | officer: Vice President and CFO | 34501 E. QUINCY AVE. BLDG 65, WATKINS CO 80137 |
Kevin Blain Mcneill | officer: Chief Financial Officer | 34501 E. QUINCY AVE, BLDG 34, WATKINS CO 80018 |
Plaisance Spv I, Llc | 10 percent owner | 250 FILLMORE, SUITE 525, DENVER CO 80206 |
Wanda J Abel | director | 34501 QUINCY AVENUE BLDG. 34, WATKINS CO 80109 |
Fendel Frederick A. Iii | director | C/O PURE CYCLE CORP., 34501 E. QUINCY AVE., BLDG. 34, WATKINS CO 80137 |
Plaisance Capital Llc | 10 percent owner | 250 FILLMORE, SUITE 525, DENVER CO 80206 |
Patrick Beirne | director | 8 VIKING DR, ENGLEWOOD CO 80113 |
Jeffrey G Sheets | director | 5291 E. YALE AVE., DENVER CO 80222 |
Par Investment Partners Lp | 10 percent owner | 200 CLARENDON STREET, FL 48, BOSTON MA 02116 |
Daniel R Kozlowski | 10 percent owner | 250 FILLMORE, SUITE 525, DENVER CO 80206 |
Par Capital Management Inc | 10 percent owner | 200 CLARENDON STREET, FL 48, BOSTON MA 02116 |
Par Group Ii, L.p. | 10 percent owner | 200 CLARENDON STREET, 48TH FLOOR, BOSTON MA 02116 |
Epker Arthur G Iii | director | C/O PURE CYCLE CORPORATION, 8451 DELAWARE ST., THORNTON CO 80260 |
Harrison E Augur | director | PO BOX 4389, ASPEN CO 81611 |
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