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Kinetik Holdings (Kinetik Holdings) Piotroski F-Score : 6 (As of May. 13, 2024)


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What is Kinetik Holdings 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

Kinetik Holdings has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

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

KNTK' s Piotroski F-Score Range Over the Past 10 Years
Min: 6   Med: 7   Max: 8
Current: 6

During the past 6 years, the highest Piotroski F-Score of Kinetik Holdings was 8. The lowest was 6. And the median was 7.


Kinetik Holdings Piotroski F-Score Historical Data

The historical data trend for Kinetik 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.

Kinetik Holdings Piotroski F-Score Chart

Kinetik Holdings Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial N/A N/A N/A 8.00 6.00

Kinetik Holdings Quarterly Data
Dec18 Dec19 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 N/A N/A 7.00 6.00 -

Competitive Comparison of Kinetik Holdings's Piotroski F-Score

For the Oil & Gas Midstream subindustry, Kinetik 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.


Kinetik Holdings's Piotroski F-Score Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Kinetik Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Kinetik 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 (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was 71.668 + 43.131 + 267.354 + 35.407 = $418 Mil.
Cash Flow from Operations was 111.456 + 174.538 + 178.895 + 153.705 = $619 Mil.
Revenue was 296.203 + 330.301 + 348.868 + 341.394 = $1,317 Mil.
Gross Profit was 116.254 + 112.61 + 134.532 + 114.101 = $477 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(6124.655 + 6226.921 + 6286.016 + 6496.873 + 6447.584) / 5 = $6316.4098 Mil.
Total Assets at the begining of this year (Mar23) was $6,125 Mil.
Long-Term Debt & Capital Lease Obligation was $3,520 Mil.
Total Current Assets was $257 Mil.
Total Current Liabilities was $234 Mil.
Net Income was 21.946 + 48.714 + 48.462 + 4.299 = $123 Mil.

Revenue was 335.572 + 325.176 + 295.493 + 281.04 = $1,237 Mil.
Gross Profit was 116.277 + 114.963 + 104.436 + 96.309 = $432 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(6013.657 + 5996.348 + 6007.178 + 5919.711 + 6124.655) / 5 = $6012.3098 Mil.
Total Assets at the begining of last year (Mar22) was $6,014 Mil.
Long-Term Debt & Capital Lease Obligation was $3,537 Mil.
Total Current Assets was $246 Mil.
Total Current Liabilities was $248 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.

Kinetik Holdings's current Net Income (TTM) was 418. ==> 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.

Kinetik Holdings's current Cash Flow from Operations (TTM) was 619. ==> 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 (Mar23)
=417.56/6124.655
=0.0681769

ROA (Last Year)=Net Income/Total Assets (Mar22)
=123.421/6013.657
=0.02052345

Kinetik Holdings's return on assets of this year was 0.0681769. Kinetik Holdings's return on assets of last year was 0.02052345. ==> 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.

Kinetik Holdings's current Net Income (TTM) was 418. Kinetik Holdings's current Cash Flow from Operations (TTM) was 619. ==> 619 > 418 ==> 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: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=3520.129/6316.4098
=0.55729902

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=3536.886/6012.3098
=0.58827408

Kinetik Holdings's gearing of this year was 0.55729902. Kinetik Holdings's gearing of last year was 0.58827408. ==> 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: Mar24)=Total Current Assets/Total Current Liabilities
=257.289/233.951
=1.09975593

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=246.212/248.301
=0.99158682

Kinetik Holdings's current ratio of this year was 1.09975593. Kinetik Holdings's current ratio of last year was 0.99158682. ==> 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.

Kinetik Holdings's number of shares in issue this year was 58.392. Kinetik Holdings's number of shares in issue last year was 47.825. ==> 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
=477.497/1316.766
=0.36262859

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=431.985/1237.281
=0.34914058

Kinetik Holdings's gross margin of this year was 0.36262859. Kinetik Holdings's gross margin of last year was 0.34914058. ==> 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 (Mar23)
=1316.766/6124.655
=0.21499431

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=1237.281/6013.657
=0.20574519

Kinetik Holdings's asset turnover of this year was 0.21499431. Kinetik Holdings's asset turnover of last year was 0.20574519. ==> 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+1+0+1+1
=8

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

Kinetik Holdings has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Kinetik Holdings  (NYSE:KNTK) 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.


Kinetik Holdings Piotroski F-Score Related Terms

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Kinetik Holdings (Kinetik Holdings) Business Description

Traded in Other Exchanges
N/A
Address
2700 Post Oak Boulevard, Suite 300, Houston, TX, USA, 77056-4400
Kinetik is a midstream operator that provides gathering and processing services to gas and oil producers as well as pipeline transportation. It operates exclusively in Texas, serving the Permian Basin and connecting fields with market hubs and other large pipelines. In addition to directly operating pipelines, Kinetik also holds ownership stakes in several pipelines that transport molecules to the Gulf Coast enabling it to obtain exposure to export markets and international demand.
Executives
Kevin S Mccarthy director C/O KAYNE ANDERSON CAPITAL ADVISORS, LP, 1800 AVENUE OF THE STARS, SECOND FLOOR, LOS ANGELES CA 90067
Jamie Welch director, officer: See Remarks 3738 OAK LAWN AVE., DALLAS TX 75219
Apache Corp 10 percent owner 2000 POST OAK BLVD, STE 100, HOUSTON TX 77056-4400
Trevor Howard officer: See Remark 2700 POST OAK BLVD., SUITE 300, HOUSTON TX 77056
Todd Carpenter officer: See Remarks 2001 BRYAN STREET, SUITE 3700, DALLAS TX 75201
Matthew Wall officer: Executive Vice President, COO 2700 POST OAK BLVD, SUITE 300, HOUSTON TX 77056
Steven Stellato officer: See Remarks 645 HAMILTON STREET, SUITE 500, ALLENTOWN PA 18101
Anne Psencik officer: Chief Strategy Officer 2700 POST OAK BLVD, SUITE 300, HOUSTON TX 77056
Jesse Krynak director 2700 POST OAK BLVD., SUITE 300, HOUSTON TX 77056
Deborah L Byers director C/O EXCELERATE ENERGY, INC., 2445 TECHNOLOGY FOREST BLVD., LEVEL 6, THE WOODLANDS TX 77381
Ronald Schweizer director 2700 POST OAK BLVD, SUITE 300, HOUSTON TX 77056
Bcp Vii/bep Ii Holdings Manager L.l.c. 10 percent owner C/O BLACKSTONE INC., 345 PARK AVENUE, NEW YORK NY 10154
Bcp Raptor Aggregator L.p. 10 percent owner 345 PARK AVENUE, 43RD FLOOR, NEW YORK NY 10154
I Squared Capital, Llc 10 percent owner 600 BRICKELL AVENUE, PENTHOUSE, MIAMI FL 33131-3067
John-paul Munfa director C/O THE BLACKSTONE GROUP, 345 PARK AVENUE, NEW YORK NY 10154