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TRIP (Tripadvisor) Piotroski F-Score : 6 (As of Oct. 29, 2024)


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What is Tripadvisor 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

Tripadvisor has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Tripadvisor's Piotroski F-Score or its related term are showing as below:

TRIP' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 6

During the past 13 years, the highest Piotroski F-Score of Tripadvisor was 7. The lowest was 2. And the median was 5.


Tripadvisor Piotroski F-Score Historical Data

The historical data trend for Tripadvisor'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.

Tripadvisor Piotroski F-Score Chart

Tripadvisor 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 5.00 3.00 6.00 7.00 5.00

Tripadvisor Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
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 6.00 5.00 5.00 7.00 6.00

Competitive Comparison of Tripadvisor's Piotroski F-Score

For the Travel Services subindustry, Tripadvisor'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.


Tripadvisor's Piotroski F-Score Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Tripadvisor's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Tripadvisor'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 (Jun24) TTM:Last Year (Jun23) TTM:
Net Income was 27 + 32 + -59 + 24 = $24 Mil.
Cash Flow from Operations was 14 + -19 + 139 + 51 = $185 Mil.
Revenue was 533 + 390 + 395 + 497 = $1,815 Mil.
Gross Profit was 490 + 354 + 360 + 451 = $1,655 Mil.
Average Total Assets from the begining of this year (Jun23)
to the end of this year (Jun24) was
(2734 + 2636 + 2537 + 2738 + 2779) / 5 = $2684.8 Mil.
Total Assets at the begining of this year (Jun23) was $2,734 Mil.
Long-Term Debt & Capital Lease Obligation was $901 Mil.
Total Current Assets was $1,539 Mil.
Total Current Liabilities was $916 Mil.
Net Income was 25 + -2 + -73 + 24 = $-26 Mil.

Revenue was 459 + 354 + 371 + 494 = $1,678 Mil.
Gross Profit was 427 + 323 + 342 + 453 = $1,545 Mil.
Average Total Assets from the begining of last year (Jun22)
to the end of last year (Jun23) was
(2612 + 2565 + 2569 + 2684 + 2734) / 5 = $2632.8 Mil.
Total Assets at the begining of last year (Jun22) was $2,612 Mil.
Long-Term Debt & Capital Lease Obligation was $903 Mil.
Total Current Assets was $1,478 Mil.
Total Current Liabilities was $854 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.

Tripadvisor's current Net Income (TTM) was 24. ==> 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.

Tripadvisor's current Cash Flow from Operations (TTM) was 185. ==> 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 (Jun23)
=24/2734
=0.00877835

ROA (Last Year)=Net Income/Total Assets (Jun22)
=-26/2612
=-0.00995406

Tripadvisor's return on assets of this year was 0.00877835. Tripadvisor's return on assets of last year was -0.00995406. ==> 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.

Tripadvisor's current Net Income (TTM) was 24. Tripadvisor's current Cash Flow from Operations (TTM) was 185. ==> 185 > 24 ==> 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: Jun24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun23 to Jun24
=901/2684.8
=0.33559297

Gearing (Last Year: Jun23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun22 to Jun23
=903/2632.8
=0.34298086

Tripadvisor's gearing of this year was 0.33559297. Tripadvisor's gearing of last year was 0.34298086. ==> 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

Current Ratio (This Year: Jun24)=Total Current Assets/Total Current Liabilities
=1539/916
=1.680131

Current Ratio (Last Year: Jun23)=Total Current Assets/Total Current Liabilities
=1478/854
=1.73067916

Tripadvisor's current ratio of this year was 1.680131. Tripadvisor's current ratio of last year was 1.73067916. ==> 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.

Tripadvisor's number of shares in issue this year was 145.218. Tripadvisor's number of shares in issue last year was 145.115. ==> 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
=1655/1815
=0.91184573

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1545/1678
=0.92073897

Tripadvisor's gross margin of this year was 0.91184573. Tripadvisor's gross margin of last year was 0.92073897. ==> 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 (Jun23)
=1815/2734
=0.66386247

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun22)
=1678/2612
=0.6424196

Tripadvisor's asset turnover of this year was 0.66386247. Tripadvisor's asset turnover of last year was 0.6424196. ==> 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
=1+1+1+1+1+0+0+0+1
=6

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

Tripadvisor has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Tripadvisor  (NAS:TRIP) 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.


Tripadvisor Piotroski F-Score Related Terms

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Tripadvisor Business Description

Address
400 1st Avenue, Needham, MA, USA, 02494
Tripadvisor is the world's leading travel metasearch company. Its platform offers 1 billion reviews and information on about 8 million accommodations, restaurants, experiences, airlines, and cruises. In 2023, 58% of revenue came from the company's core Brand Tripadvisor segment, which includes hotel revenue generated through advertising on its metasearch platform. Viator, its experiences brand, was 41% of sales in 2023, and TheFork, its dining brand, represented 9% of revenue (about 8% of sales were intersegment, which are eliminated from consolidated revenue).
Executives
Seth J Kalvert officer: SVP, GC, Sec. C/O TRIPADVISOR, INC., 141 NEEDHAM STREET, NEWTON MA 02464
Michael Noonan officer: CFO & SVP C/O TRIPADVISOR, INC., 400 1ST AVENUE, NEEDHAM MA 02494
Geoffrey Gouvalaris other: Chief Accounting Officer 400 1ST AVENUE, NEEDHAM MA 02494
Ernst 02494 Teunissen officer: Chief Financial Officer C/O TRIPADVISOR, INC., 400 1ST AVENUE, NEEDHAM HEIGHTS MA 02494
Matt Goldberg director, officer: CEO and President 2 WISCONSIN CIRCLE, 7TH FLOOR, CHEVY CHASE MD 20815
Jay C Hoag director 250 MIDDLEFIELD ROAD, MENLO PARK CA 94025
Gregory B Maffei director 12300 LIBERTY BLVD, ENGLEWOOD CO 80112
Kanika Soni officer: Chief Commercial Officer C/O TRIPADVISOR INC., 400 1ST AVENUE, NEEDHAM MA 02494
Liberty Tripadvisor Holdings, Inc. 10 percent owner 12300 LIBERTY BLVD, ENGLEWOOD CO 80112
Jie Sun director BUILDING 16#, NO. 968 JIN ZHONG ROAD, SHANGHAI F4 200335
Lindsay Nelson officer: Chief Experience&Brand Officer C/O TRIPADVISOR INC., 400 FIRST AVENUE, NEEDHAM MA 02494
Pemrose Corp director 350 MADISON AVENUE 8TH FLOOR, NEW YORK NY 10017
Certares Ltrip Llc director 350 MADISON AVENUE 8TH FLOOR, NEW YORK NY 10017
Certares Holdings (blockable) Llc director 350 MADISON AVENUE 8TH FLOOR, NEW YORK NY 10017
Certares Holdings Llc director 350 MADISON AVENUE 8TH FLOOR, NEW YORK NY 10017