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Torrid Holdings (Torrid Holdings) Piotroski F-Score : 3 (As of Apr. 30, 2024)


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What is Torrid Holdings Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 3 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Torrid Holdings has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

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

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

During the past 6 years, the highest Piotroski F-Score of Torrid Holdings was 7. The lowest was 3. And the median was 5.


Torrid Holdings Piotroski F-Score Historical Data

The historical data trend for Torrid Holdings'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.

Torrid Holdings Piotroski F-Score Chart

Torrid Holdings Annual Data
Trend Jan19 Jan20 Jan21 Jan22 Jan23 Jan24
Piotroski F-Score
Get a 7-Day Free Trial N/A N/A 5.00 7.00 3.00

Torrid Holdings Quarterly Data
Jan19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24
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 7.00 7.00 6.00 4.00 3.00

Competitive Comparison of Torrid Holdings's Piotroski F-Score

For the Apparel Retail subindustry, Torrid Holdings'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.


Torrid Holdings's Piotroski F-Score Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Torrid Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Torrid Holdings'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 (Jan24) TTM:Last Year (Jan23) TTM:
Net Income was 11.808 + 6.629 + -2.748 + -4.07 = $12 Mil.
Cash Flow from Operations was 11.223 + 20.472 + 2.035 + 9.041 = $43 Mil.
Revenue was 293.854 + 289.144 + 275.408 + 293.539 = $1,152 Mil.
Gross Profit was 110.642 + 102.677 + 91.502 + 101.157 = $406 Mil.
Average Total Assets from the begining of this year (Jan23)
to the end of this year (Jan24) was
(527.264 + 515.482 + 492.384 + 509.455 + 476.947) / 5 = $504.3064 Mil.
Total Assets at the begining of this year (Jan23) was $527 Mil.
Long-Term Debt & Capital Lease Obligation was $445 Mil.
Total Current Assets was $179 Mil.
Total Current Liabilities was $232 Mil.
Net Income was 24.066 + 22.71 + 7.277 + -3.844 = $50 Mil.

Revenue was 333.193 + 353.522 + 300.201 + 301.228 = $1,288 Mil.
Gross Profit was 129.93 + 131.492 + 101.938 + 96.179 = $460 Mil.
Average Total Assets from the begining of last year (Jan22)
to the end of last year (Jan23) was
(578.501 + 567.171 + 556.55 + 564.324 + 527.264) / 5 = $558.762 Mil.
Total Assets at the begining of last year (Jan22) was $579 Mil.
Long-Term Debt & Capital Lease Obligation was $478 Mil.
Total Current Assets was $216 Mil.
Total Current Liabilities was $267 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.

Torrid Holdings's current Net Income (TTM) was 12. ==> 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.

Torrid Holdings's current Cash Flow from Operations (TTM) was 43. ==> 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 (Jan23)
=11.619/527.264
=0.0220364

ROA (Last Year)=Net Income/Total Assets (Jan22)
=50.209/578.501
=0.08679155

Torrid Holdings's return on assets of this year was 0.0220364. Torrid Holdings's return on assets of last year was 0.08679155. ==> 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.

Torrid Holdings's current Net Income (TTM) was 12. Torrid Holdings's current Cash Flow from Operations (TTM) was 43. ==> 43 > 12 ==> 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: Jan24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jan23 to Jan24
=445.108/504.3064
=0.88261422

Gearing (Last Year: Jan23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jan22 to Jan23
=477.897/558.762
=0.85527828

Torrid Holdings's gearing of this year was 0.88261422. Torrid Holdings's gearing of last year was 0.85527828. ==> 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: Jan24)=Total Current Assets/Total Current Liabilities
=179.123/232.107
=0.77172597

Current Ratio (Last Year: Jan23)=Total Current Assets/Total Current Liabilities
=216.121/267.327
=0.80845182

Torrid Holdings's current ratio of this year was 0.77172597. Torrid Holdings's current ratio of last year was 0.80845182. ==> 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.

Torrid Holdings's number of shares in issue this year was 105.09. Torrid Holdings's number of shares in issue last year was 103.871. ==> 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
=405.978/1151.945
=0.35242828

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=459.539/1288.144
=0.35674505

Torrid Holdings's gross margin of this year was 0.35242828. Torrid Holdings's gross margin of last year was 0.35674505. ==> 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 (Jan23)
=1151.945/527.264
=2.18475944

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jan22)
=1288.144/578.501
=2.22669278

Torrid Holdings's asset turnover of this year was 2.18475944. Torrid Holdings's asset turnover of last year was 2.22669278. ==> 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+0+0+0
=3

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

Torrid Holdings has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Torrid Holdings  (NYSE:CURV) 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.


Torrid Holdings Piotroski F-Score Related Terms

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Torrid Holdings (Torrid Holdings) Business Description

Traded in Other Exchanges
N/A
Address
18501 East San Jose Avenue, City of Industry, CA, USA, 91748
Torrid Holdings Inc is a direct-to-consumer brand of apparel, intimates and accessories in North America targeting the 25- to 40-year old woman. It is focused on fit and offers high quality products across a broad assortment that includes tops, bottoms, denim, dresses, intimates, activewear, footwear and accessories. The company has one reportable segment, which includes the operation of e-Commerce platform and stores.
Executives
Valeria Rico Nikolov director C/O TORRID HOLDINGS INC., 18501 EAST SAN JOSE AVENUE, CITY OF INDUSTRY CA 91748
Mark Mizicko officer: Chief Commercial Officer 18305 E. SAN JOSE AVE., CITY OF INDUSTRY CA 91748
Paula Dempsey officer: See Remarks 18501 EAST SAN JOSE AVENUE, CITY OF INDUSTRY CA 91748
Theo Killion director C/O TOMMY HILFIGER U.S.A., INC., 25 W. 39TH STREET, NEW YORK NY 10018
Bridgett C. Zeterberg officer: See Remarks 18501 E. SAN JOSE AVENUE, CITY OF INDUSTRY CA 91748
Timothy O Martin officer: See Remarks AMGEN INC, ONE AMGEN CENTER DRIVE, THOUSAND OAKS CA 91320-1799
Michael A Shaffer director C/O PHILLIPS-VAN HEUSEN CORPORATION, 200 MADISON AVENUE, NEW YORK NY 10016
Chinwe Abaelu officer: See Remarks C/O TORRID INC., 18501 E. SAN JOSE AVE., CITY OF INDUSTRY CA 91748
Tanner Macdiarmid officer: See Remarks C/O TORRID INC., 18501 E. SAN JOSE AVE., CITY OF INDUSTRY CA 91748
Kelly Mcguire Diehl officer: See Remarks C/O TORRID INC., 18501 E. SAN JOSE AVE., CITY OF INDUSTRY CA 91748
Anne Stephenson officer: See Remarks C/O TORRID INC., 18501 E. SAN JOSE AVE., CITY OF INDUSTRY CA 91748
Elizabeth Munoz director, officer: Chief Executive Officer C/O TORRID INC., 18501 E. SAN JOSE AVE., CITY OF INDUSTRY CA 91748
Michael Robert Salmon officer: Chief Operating Officer C/O TORRID INC., 18501 E. SAN JOSE AVE., CITY OF INDUSTRY CA 91748
George Wehlitz officer: Chief Financial Officer C/O TORRID HOLDINGS, 18501 EAST SAN JOSE AVENUE, CITY OF INDUSTRY CA 91748
Sycamore Partners Torrid, L.l.c. 10 percent owner 9 W. 57TH STREET, 31ST FLOOR, NEW YORK NY 10019

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