INST has been successfully added to your Stock Email Alerts list.
You can manage your stock email alerts here.
INST has been removed from your Stock Email Alerts list.
Please enter Portfolio Name for new portfolio.
Good Sign:
Piotroski F-Score is 7, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Instructure Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Instructure Holdings's Piotroski F-Score or its related term are showing as below:
During the past 6 years, the highest Piotroski F-Score of Instructure Holdings was 7. The lowest was 5. And the median was 6.
The historical data trend for Instructure 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.
Instructure Holdings Annual Data | |||||||||||||||
Trend | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||
Piotroski F-Score | Get a 7-Day Free Trial | N/A | N/A | 5.00 | 6.00 | 7.00 |
Instructure Holdings Quarterly Data | ||||||||||||||||||
Dec18 | 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 | 6.00 | 6.00 | 7.00 | 7.00 | 7.00 |
For the Software - Application subindustry, Instructure 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.
For the Software industry and Technology sector, Instructure Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Instructure 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Net Income was -11.857 + -10.973 + -5.481 + -5.767 = $-34.1 Mil. Cash Flow from Operations was -80.918 + 25.158 + 182.808 + 36.968 = $164.0 Mil. Revenue was 128.843 + 131.07 + 134.921 + 135.376 = $530.2 Mil. Gross Profit was 83.011 + 85.781 + 87.494 + 87.609 = $343.9 Mil. Average Total Assets from the begining of this year (Dec22) to the end of this year (Dec23) was (2153.489 + 2065.87 + 2181.388 + 2195.203 + 2157.978) / 5 = $2150.7856 Mil. Total Assets at the begining of this year (Dec22) was $2,153.5 Mil. Long-Term Debt & Capital Lease Obligation was $491.6 Mil. Total Current Assets was $438.8 Mil. Total Current Liabilities was $350.7 Mil. |
Net Income was -5.545 + -12.919 + -10.055 + -5.723 = $-34.2 Mil. Revenue was 113.462 + 114.577 + 122.429 + 124.726 = $475.2 Mil. Gross Profit was 72.451 + 72.179 + 78.356 + 79.914 = $302.9 Mil. Average Total Assets from the begining of last year (Dec21) to the end of last year (Dec22) was (2133.782 + 2056.145 + 2145.171 + 2182.916 + 2153.489) / 5 = $2134.3006 Mil. Total Assets at the begining of last year (Dec21) was $2,133.8 Mil. Long-Term Debt & Capital Lease Obligation was $503.1 Mil. Total Current Assets was $285.0 Mil. Total Current Liabilities was $334.1 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.
Instructure Holdings's current Net Income (TTM) was -34.1.
==> 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.
Instructure Holdings's current Cash Flow from Operations (TTM) was 164.0.
==> 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) |
= | -34.078 | / | 2153.489 | |
= | -0.01582455 |
ROA (Last Year) | = | Net Income | / | Total Assets (Dec21) |
= | -34.242 | / | 2133.782 | |
= | -0.01604756 |
Instructure Holdings's return on assets of this year was -0.01582455. Instructure Holdings's return on assets of last year was -0.01604756.
==> 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.
Instructure Holdings's current Net Income (TTM) was -34.1. Instructure Holdings's current Cash Flow from Operations (TTM) was 164.0.
==> 164.0 > -34.1 ==> 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 |
= | 491.633 | / | 2150.7856 | |
= | 0.22858299 |
Gearing (Last Year: Dec22) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec21 to Dec22 |
= | 503.081 | / | 2134.3006 | |
= | 0.23571235 |
Instructure Holdings's gearing of this year was 0.22858299. Instructure Holdings's gearing of last year was 0.23571235.
==> 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: Dec23) | = | Total Current Assets | / | Total Current Liabilities |
= | 438.824 | / | 350.659 | |
= | 1.2514266 |
Current Ratio (Last Year: Dec22) | = | Total Current Assets | / | Total Current Liabilities |
= | 285.036 | / | 334.057 | |
= | 0.85325558 |
Instructure Holdings's current ratio of this year was 1.2514266. Instructure Holdings's current ratio of last year was 0.85325558.
==> This year's current ratio is higher. ==> Score 1.
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.
Instructure Holdings's number of shares in issue this year was 144.877. Instructure Holdings's number of shares in issue last year was 142.652.
==> 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 |
= | 343.895 | / | 530.21 | |
= | 0.6486015 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 302.9 | / | 475.194 | |
= | 0.63742387 |
Instructure Holdings's gross margin of this year was 0.6486015. Instructure Holdings's gross margin of last year was 0.63742387.
==> This year's gross 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 (Dec22) |
= | 530.21 | / | 2153.489 | |
= | 0.24620976 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Dec21) |
= | 475.194 | / | 2133.782 | |
= | 0.22270035 |
Instructure Holdings's asset turnover of this year was 0.24620976. Instructure Holdings's asset turnover of last year was 0.22270035.
==> 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 | + | 1 | + | 1 | + | 0 | + | 1 | + | 1 | |
= | 7 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Instructure Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Instructure Holdings (NYSE:INST) 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.
Thank you for viewing the detailed overview of Instructure Holdings's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Matthew Kaminer | officer: See remarks | 1100 PARK PLACE, SUITE 300, SAN MATEO CA 94403 |
Benson Michael Lee Jr. | officer: Chief Product Officer | 6330 SOUTH 3000 EAST, SUITE 700, SALT LAKE CITY UT 84121 |
Erik Akopiantz | director | 600 MONTGOMERY STREET, 20TH FLOOR, SAN FRANCISCO CA 94111 |
John Charles Goodman | director | 600 MONTGOMERY STREET, 20TH FLOOR, SAN FRANCISCO CA 94111 |
Stephen M. Daly | director, officer: Chief Executive Officer | 6330 SOUTH 3000 EAST, SUITE 700, SALT LAKE CITY UT 84121 |
Chris F Ball | officer: See Remarks | 6330 SOUTH 3000 EAST, SUITE 700, SALT LAKE CITY UT 84121 |
Melissa J. Loble | officer: See Remarks | 6330 SOUTH 3000 EAST, SUITE 700, SALT LAKE CITY UT 84121 |
Lloyd G Waterhouse | director | |
Thoma Bravo Fund Xiii, L.p. | 10 percent owner | 150 N. RIVERSIDE PLAZA, SUITE 2800, CHICAGO IL 60606 |
Thoma Bravo Executive Fund Xiii, L.p. | 10 percent owner | 150 N. RIVERSIDE PLAZA, SUITE 2800, CHICAGO IL 60606 |
Thoma Bravo Fund Xiii-a, L.p. | 10 percent owner | 150 N. RIVERSIDE PLAZA, SUITE 2800, CHICAGO IL 60606 |
Ossa Fisher | director | 1 FANATICAL PLACE, CITY OF WINDCREST, SAN ANTONIO TX 78218 |
James R. Hutter | director | 600 MONTGOMERY STREET, 20TH FLOOR, SAN FRANCISCO CA 94111 |
Dale E. Bowen | officer: Chief Financial Officer | 6330 SOUTH 3000 EAST, SUITE 700, SALT LAKE CITY UT 84121 |
Frank Daniel Maylett | officer: Chief Revenue Officer | 7730 S. UNION PARK AVE, SUITE 500, MIDVALE UT 84047 |
From GuruFocus
By PRNewswire • 07-10-2023
By PRNewswire • 07-27-2023
By PRNewswire PRNewswire • 06-21-2023
By PRNewswire • 01-17-2024
By PRNewswire • 09-14-2023
By PRNewswire • 07-27-2023
By PRNewswire PRNewswire • 03-30-2023
By GuruFocus Research • 12-10-2023
By PRNewswire PRNewswire • 03-31-2023
Disclaimers: GuruFocus.com is not operated by a broker or a dealer. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. This investment adviser does not provide advice to individual investors. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.