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Good Sign:
Piotroski F-Score is 8, 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
Iridium Communications 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 Iridium Communications's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Iridium Communications was 8. The lowest was 4. And the median was 5.
The historical data trend for Iridium Communications'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.
Iridium Communications Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 6.00 | 6.00 | 6.00 | 7.00 | 5.00 |
Iridium Communications Quarterly Data | ||||||||||||||||||||
Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
Piotroski F-Score | Get a 7-Day Free Trial | 7.00 | 5.00 | 4.00 | 5.00 | 8.00 |
For the Telecom Services subindustry, Iridium Communications'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 Telecommunication Services industry and Communication Services sector, Iridium Communications's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Iridium Communications'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 -30.741 + -1.642 + 38.023 + 19.653 = $25.3 Mil. Cash Flow from Operations was 87.048 + 71.116 + 87.807 + 71.426 = $317.4 Mil. Revenue was 193.108 + 197.602 + 194.74 + 203.853 = $789.3 Mil. Gross Profit was 141.563 + 143.385 + 139.126 + 143.524 = $567.6 Mil. Average Total Assets from the begining of this year (Mar23) to the end of this year (Mar24) was (2871.65 + 2780.468 + 2705.714 + 2661.775 + 2735.958) / 5 = $2751.113 Mil. Total Assets at the begining of this year (Mar23) was $2,871.7 Mil. Long-Term Debt & Capital Lease Obligation was $1,587.5 Mil. Total Current Assets was $376.8 Mil. Total Current Liabilities was $113.0 Mil. |
Net Income was 4.557 + 2.149 + -0.808 + 9.775 = $15.7 Mil. Revenue was 174.919 + 184.06 + 193.836 + 205.273 = $758.1 Mil. Gross Profit was 128.128 + 131.276 + 136.865 + 141.529 = $537.8 Mil. Average Total Assets from the begining of last year (Mar22) to the end of last year (Mar23) was (3077.128 + 3076.783 + 3062.592 + 2954.011 + 2871.65) / 5 = $3008.4328 Mil. Total Assets at the begining of last year (Mar22) was $3,077.1 Mil. Long-Term Debt & Capital Lease Obligation was $1,467.6 Mil. Total Current Assets was $278.7 Mil. Total Current Liabilities was $116.3 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.
Iridium Communications's current Net Income (TTM) was 25.3.
==> 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.
Iridium Communications's current Cash Flow from Operations (TTM) was 317.4.
==> 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) |
= | 25.293 | / | 2871.65 | |
= | 0.00880783 |
ROA (Last Year) | = | Net Income | / | Total Assets (Mar22) |
= | 15.673 | / | 3077.128 | |
= | 0.00509339 |
Iridium Communications's return on assets of this year was 0.00880783. Iridium Communications's return on assets of last year was 0.00509339.
==> 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.
Iridium Communications's current Net Income (TTM) was 25.3. Iridium Communications's current Cash Flow from Operations (TTM) was 317.4.
==> 317.4 > 25.3 ==> 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 |
= | 1587.507 | / | 2751.113 | |
= | 0.57704173 |
Gearing (Last Year: Mar23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Mar22 to Mar23 |
= | 1467.601 | / | 3008.4328 | |
= | 0.48782908 |
Iridium Communications's gearing of this year was 0.57704173. Iridium Communications's gearing of last year was 0.48782908.
==> 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: Mar24) | = | Total Current Assets | / | Total Current Liabilities |
= | 376.792 | / | 113.001 | |
= | 3.33441297 |
Current Ratio (Last Year: Mar23) | = | Total Current Assets | / | Total Current Liabilities |
= | 278.725 | / | 116.321 | |
= | 2.39617094 |
Iridium Communications's current ratio of this year was 3.33441297. Iridium Communications's current ratio of last year was 2.39617094.
==> 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.
Iridium Communications's number of shares in issue this year was 123.993. Iridium Communications's number of shares in issue last year was 128.738.
==> 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.
Gross Margin (This Year: TTM) | = | Gross Profit | / | Revenue |
= | 567.598 | / | 789.303 | |
= | 0.71911294 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 537.798 | / | 758.088 | |
= | 0.70941368 |
Iridium Communications's gross margin of this year was 0.71911294. Iridium Communications's gross margin of last year was 0.70941368.
==> 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) |
= | 789.303 | / | 2871.65 | |
= | 0.27486045 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Mar22) |
= | 758.088 | / | 3077.128 | |
= | 0.24636219 |
Iridium Communications's asset turnover of this year was 0.27486045. Iridium Communications's asset turnover of last year was 0.24636219.
==> 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 | + | 0 | + | 1 | + | 1 | + | 1 | + | 1 | |
= | 8 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Iridium Communications has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
Iridium Communications (NAS:IRDM) 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 Iridium Communications's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Matthew J Desch | director, officer: Chief Executive Officer | C/O SAIC, 10260 CAMPUS POINT DR M/S F3, SAN DIEGO CA 92121 |
Jacqueline E Yeaney | director | 2002 SUMMIT BOULEVARD, SUITE 100, ATLANTA GA 30319 |
Bryan J. Hartin | officer: EVP-Sales and Marketing | C/O IRIDIUM COMMUNICATIONS INC., 1750 TYSONS BOULEVARD, SUITE 1400, MCLEAN VA 22102 |
Robert H Niehaus | director, officer: Senior Vice President | 4747 GAILLARDIA PARKWAY, OKLAHOMA CITY OK 73142 |
Suzanne E. Mcbride | officer: Chief Operations Officer | C/O IRIDIUM COMMUNICATIONS INC., 1750 TYSONS BOULEVARD, SUITE 1400, MCLEAN VA 22102 |
Barry West | director | NEXTEL, 2001 EDMUND HALLEY DR, RESTON VA 20191 |
Scott Scheimreif | officer: EVP-Government Programs | C/O IRIDIUM COMMUNICATIONS INC., 1750 TYSONS BOULEVARD, SUITE 1400, MCLEAN VA 22102 |
Thomas C Canfield | director | C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025 |
Kathleen A. Morgan | officer: Chief Legal Officer | C/O IRIDIUM COMMUNICATIONS INC., 1750 TYSONS BOULEVARD SUITE 1400, MCLEAN VA 22102 |
Thomas Fitzpatrick | officer: Chief Financial Officer | C/O CENTENNIAL COMMUNICATIONS CORP, 3349 RTE 138, WALL NJ 07719 |
Henrik O. Schliemann | director | C/O IRIDIUM COMMUNICATIONS INC., 1750 TYSONS BOULEVARD, SUITE 1400, MCLEAN VA 22102 |
Timothy Kapalka | officer: VP Iridium Satellite LLC | C/O IRIDIUM COMMUNICATIONS INC., 1750 TYSONS BOULEVARD, MCLEAN VA 22102 |
Parker William Rush | director | 5525 LBJ FREEWAY, DALLAS TX 75240 |
A B Krongard | director | C/O UNDER ARMOUR, INC., 1020 HULL STREET, BALTIMORE MD 21230 |
Kay Sears | director | C/O IRIDIUM COMMUNICATIONS INC., 1750 TYSONS BOULEVARD, SUITE 1400, MCLEAN VA 22102 |
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