GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Duff & Phelps Utility & Infrastructure Fund Inc. (NYSE:DPG) » Definitions » Piotroski F-Score

Duff & Phelps Utility & Infrastructure Fund (Duff & Phelps Utility & Infrastructure Fund) Piotroski F-Score : 5 (As of May. 16, 2024)


View and export this data going back to . Start your Free Trial

What is Duff & Phelps Utility & Infrastructure Fund 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

Duff & Phelps Utility & Infrastructure Fund 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 Duff & Phelps Utility & Infrastructure Fund's Piotroski F-Score or its related term are showing as below:

DPG' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 5   Max: 6
Current: 5

During the past 7 years, the highest Piotroski F-Score of Duff & Phelps Utility & Infrastructure Fund was 6. The lowest was 4. And the median was 5.


Duff & Phelps Utility & Infrastructure Fund Piotroski F-Score Historical Data

The historical data trend for Duff & Phelps Utility & Infrastructure Fund'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.

Duff & Phelps Utility & Infrastructure Fund Piotroski F-Score Chart

Duff & Phelps Utility & Infrastructure Fund Annual Data
Trend Oct17 Oct18 Oct19 Oct20 Oct21 Oct22 Oct23
Piotroski F-Score
Get a 7-Day Free Trial 6.00 4.00 5.00 4.00 5.00

Duff & Phelps Utility & Infrastructure Fund Semi-Annual Data
Oct17 Apr18 Oct18 Apr19 Oct19 Apr20 Oct20 Apr21 Oct21 Apr22 Oct22 Apr23 Oct23
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 - 4.00 - 5.00

Competitive Comparison of Duff & Phelps Utility & Infrastructure Fund's Piotroski F-Score

For the Asset Management subindustry, Duff & Phelps Utility & Infrastructure Fund'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.


Duff & Phelps Utility & Infrastructure Fund's Piotroski F-Score Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Duff & Phelps Utility & Infrastructure Fund's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Duff & Phelps Utility & Infrastructure Fund'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 (Oct23) TTM:Last Year (Oct22) TTM:
Net Income was $-38.40 Mil.
Cash Flow from Operations was $79.42 Mil.
Revenue was $-37.26 Mil.
Average Total Assets from the begining of this year (Oct22)
to the end of this year (Oct23) was (661.262 + 542.953) / 2 = $602.1075 Mil.
Total Assets at the begining of this year (Oct22) was $661.26 Mil.
Long-Term Debt & Capital Lease Obligation was $125.00 Mil.
Total Assets was $542.95 Mil.
Total Liabilities was $163.65 Mil.
Net Income was $-12.63 Mil.

Revenue was $-12.48 Mil.
Average Total Assets from the begining of last year (Oct21)
to the end of last year (Oct22) was (739.784 + 661.262) / 2 = $700.523 Mil.
Total Assets at the begining of last year (Oct21) was $739.78 Mil.
Long-Term Debt & Capital Lease Obligation was $155.00 Mil.
Total Assets was $661.26 Mil.
Total Liabilities was $196.33 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.

Duff & Phelps Utility & Infrastructure Fund's current Net Income (TTM) was -38.40. ==> 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.

Duff & Phelps Utility & Infrastructure Fund's current Cash Flow from Operations (TTM) was 79.42. ==> 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 (Oct22)
=-38.4/661.262
=-0.05807078

ROA (Last Year)=Net Income/Total Assets (Oct21)
=-12.627/739.784
=-0.0170685

Duff & Phelps Utility & Infrastructure Fund's return on assets of this year was -0.05807078. Duff & Phelps Utility & Infrastructure Fund's return on assets of last year was -0.0170685. ==> 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.

Duff & Phelps Utility & Infrastructure Fund's current Net Income (TTM) was -38.40. Duff & Phelps Utility & Infrastructure Fund's current Cash Flow from Operations (TTM) was 79.42. ==> 79.42 > -38.40 ==> 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: Oct23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Oct22 to Oct23
=125/602.1075
=0.20760412

Gearing (Last Year: Oct22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Oct21 to Oct22
=155/700.523
=0.22126326

Duff & Phelps Utility & Infrastructure Fund's gearing of this year was 0.20760412. Duff & Phelps Utility & Infrastructure Fund's gearing of last year was 0.22126326. ==> 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

* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.

Current Ratio (This Year: Oct23)=Total Assets/Total Liabilities
=542.953/163.65
=3.31776963

Current Ratio (Last Year: Oct22)=Total Assets/Total Liabilities
=661.262/196.334
=3.36804629

Duff & Phelps Utility & Infrastructure Fund's current ratio of this year was 3.31776963. Duff & Phelps Utility & Infrastructure Fund's current ratio of last year was 3.36804629. ==> 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.

Duff & Phelps Utility & Infrastructure Fund's number of shares in issue this year was 38.02. Duff & Phelps Utility & Infrastructure Fund's number of shares in issue last year was 38.264. ==> 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.

* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.

Net Margin (This Year: TTM)=Net Income/Revenue
=-38.4/-37.261
=1.03056815

Net Margin (Last Year: TTM)=Net Income/Revenue
=-12.627/-12.48
=1.01177885

Duff & Phelps Utility & Infrastructure Fund's net margin of this year was 1.03056815. Duff & Phelps Utility & Infrastructure Fund's net margin of last year was 1.01177885. ==> This year's net margin is higher. ==> Score 1.

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 (Oct22)
=-37.261/661.262
=-0.05634832

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Oct21)
=-12.48/739.784
=-0.01686979

Duff & Phelps Utility & Infrastructure Fund's asset turnover of this year was -0.05634832. Duff & Phelps Utility & Infrastructure Fund's asset turnover of last year was -0.01686979. ==> 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
=0+1+0+1+1+0+1+1+0
=5

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

Duff & Phelps Utility & Infrastructure Fund has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Duff & Phelps Utility & Infrastructure Fund  (NYSE:DPG) 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.


Duff & Phelps Utility & Infrastructure Fund Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Duff & Phelps Utility & Infrastructure Fund's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Duff & Phelps Utility & Infrastructure Fund (Duff & Phelps Utility & Infrastructure Fund) Business Description

Traded in Other Exchanges
N/A
Address
200 South Wacker Drive, Suite 500, Chicago, IL, USA, 60606
Duff & Phelps Utility & Infrastructure Fund Inc. is an investment fund. Its investment objective is to seek total return, resulting primarily from a high level of current income, with an emphasis on providing tax-advantaged dividend income.
Executives
Grumhaus David D Jr. other: Officer of the Adviser 200 S. WACKER DRIVE, SUITE 500, CHICAGO IL 60606
Metlife Investment Management, Llc 10 percent owner ONE METLIFE WAY, WHIPPANY NJ 07981
Eric Elvekrog other: Officer of Adviser 200 S. WACKER DRIVE, SUITE 500, CHICAGO IL 60606
Mareile B. Cusack director DUFF & PHELPS INVESTMENT MANAGEMENT CO., 200 SOUTH WACKER DRIVE, SUITE 500, CHICAGO IL 60640
Kathleen Hegyi officer: CCO C/O DUFF & PHELPS INVESTMENT MANAGEMENT, 200 SOUTH WACKER DRIVE, CHICAGO IL 60606
Ellen Lyerly Elberfeld other: Officer of Investment Adviser DUFF & PHELPS INVESTMENT MANAGEMENT CO., 200 SOUTH WACKER DRIVE, SUITE 500, CHICAGO IL 60640
Nikita K Thaker officer: Vice President* C/O VIRTUS INVESTMENT PARTNERS, INC., 100 PEARL STREET, HARTFORD CT 06103
Bradley William Patrick Iii other: Officer of Adviser C/O VIRTUS INVESTMENT PARTNERS, INC., 56 PROSPECT STREET, HARTFORD CT 06115
Jacqueline Porter officer: Vice President 100 PEARL STREET, HARTFORD CT 06103
Hoffman Clifford W. Jr. director C/O DUFF & PHELPS INVESTMENT MANAGEMENT, 200 E. WACKER DR., CHICAGO IL 60606
David J Vitale director C/O DNP SELECT INCOME FUND INC., 55 EAST MONROE ST, CHICAGO IL 60603
Christian H Poindexter director C/O BALTIMORE GAS AND ELECTRIC COMPANY, P.O. BOX 1475, BALTIMORE MD 21203
Deborah A Jansen officer: Chief Investment Officer 55 E MONROE ST 36TH FLOOR, CHICAGO IL 60603
Daniel Petrisko officer: Assistant Secretary 800 SCUDDERS HILL ROAD, PLAINSBORO NJ 08536
Metropolitan Life Insurance Co/ny 10 percent owner 200 PARK AVENUE, NEW YORK NY 10166