GNC Holdings, Inc.
Dividend growth for five consecutive years.
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GNC Holdings, Inc. (GNC) Piotroski F-score
GNC Holdings, Inc.'s Piotroski F-score for fiscal 2019 is 4 out of 9: 4 of nine tests of profitability, leverage and efficiency passed, down from 6 in fiscal 2018.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2019 | 4 | (2.00) |
| FY2018 | 6 | 0.00 |
| FY2017 | 6 | 2.00 |
| FY2016 | 4 | — |
How fiscal 2019’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (3.39%) | 4.52% | Fail | 0 |
| Positive operating cash flow | 96.52m | 95.87m | Pass | 1 |
| Rising return on assets | (3.39%) | 4.52% | Fail | 0 |
| Cash flow above net income | 150.44m | 27.05m | Pass | 1 |
| Falling long-term leverage | 0.43 | 0.65 | Pass | 1 |
| Rising current ratio | 1.14 | 1.88 | Fail | 0 |
| No new shares issued | 83,720,000 | 83,364,000 | Fail | 0 |
| Rising gross margin | 34.54% | 32.79% | Pass | 1 |
| Rising asset turnover | 1.30 | 1.54 | Fail | 0 |
| Piotroski F-score | Mixed | 4 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover