America First Multifamily Investors, L.P. (NasdaqGS:ATAX), Clarkson PLC (LSE:CKN): Profitability Pulled into Focus

Taking a look at some key metrics and ratios for America First Multifamily Investors, L.P. (NasdaqGS:ATAX), we note that the ROA or Return on Assets stands at 0.018792. Return on Assets shows how many dollars of earnings result from each dollar of assets the company controls. Return on assets gives an indication of the capital intensity of the company, which will also depend on the type of industry.

In addition to ROA, there are a number of additional ratios and Quant signals available to investors in order to decipher if the shares are a good fit for their portfolio.  The Shareholder Yield is a way that investors can see how much money shareholders are receiving from a company through a combination of dividends, share repurchases and debt reduction.  The Shareholder Yield of America First Multifamily Investors, L.P. (NasdaqGS:ATAX) is 0.086810.  This percentage is calculated by adding the dividend yield plus the percentage of shares repurchased.  Dividends are a common way that companies distribute cash to their shareholders.  Similarly, cash repurchases and a reduction of debt can increase the shareholder value, too.  Another way to determine the effectiveness of a company’s distributions is by looking at the Shareholder yield (Mebane Faber).  The Shareholder Yield (Mebane Faber) of America First Multifamily Investors, L.P. NasdaqGS:ATAX is -0.31175.  This number is calculated by looking at the sum of the dividend yield plus percentage of sales repurchased and net debt repaid yield.

The EBITDA Yield is a great way to determine a company’s profitability.  This number is calculated by dividing a company’s earnings before interest, taxes, depreciation and amortization by the company’s enterprise value.  Enterprise Value is calculated by taking the market capitalization plus debt, minority interest and preferred shares, minus total cash and cash equivalents.  The EBITDA Yield for America First Multifamily Investors, L.P. (NasdaqGS:ATAX) is -2009.470504. 

The Earnings to Price yield of America First Multifamily Investors, L.P. NasdaqGS:ATAX is 0.046659.  This is calculated by taking the earnings per share and dividing it by the last closing share price.  This is one of the most popular methods investors use to evaluate a company’s financial performance.  Earnings Yield is calculated by taking the operating income or earnings before interest and taxes (EBIT) and dividing it by the Enterprise Value of the company.  The Earnings Yield for America First Multifamily Investors, L.P. NasdaqGS:ATAX is 0.014579.  Earnings Yield helps investors measure the return on investment for a given company.  Similarly, the Earnings Yield Five Year Average is the five year average operating income or EBIT divided by the current enterprise value.  The Earnings Yield Five Year average for America First Multifamily Investors, L.P. (NasdaqGS:ATAX) is 0.009061.

The Price to book ratio is the current share price of a company divided by the book value per share.  The Price to Book ratio for America First Multifamily Investors, L.P. NasdaqGS:ATAX is 1.221167.  A lower price to book ratio indicates that the stock might be undervalued.  Similarly, Price to cash flow ratio is another helpful ratio in determining a company’s value.  The Price to Cash Flow for America First Multifamily Investors, L.P. (NasdaqGS:ATAX) is 19.744563.  This ratio is calculated by dividing the market value of a company by cash from operating activities.  Additionally, the price to earnings ratio is another popular way for analysts and investors to determine a company’s profitability.  The price to earnings ratio for America First Multifamily Investors, L.P. (NasdaqGS:ATAX) is 21.432221. This ratio is found by taking the current share price and dividing by earnings per share.

Quant

The Piotroski F-Score is a scoring system between 1-9 that determines a firm’s financial strength.  The score helps determine if a company’s stock is valuable or not.  The Piotroski F-Score of America First Multifamily Investors, L.P. (NasdaqGS:ATAX) is 6.  A score of nine indicates a high value stock, while a score of one indicates a low value stock.  The score is calculated by the return on assets (ROA), Cash flow return on assets (CFROA), change in return of assets, and quality of earnings.  It is also calculated by a change in gearing or leverage, liquidity, and change in shares in issue.  The score is also determined by change in gross margin and change in asset turnover.

The Gross Margin Score is calculated by looking at the Gross Margin and the overall stability of the company over the course of 8 years.  The score is a number between one and one hundred (1 being best and 100 being the worst).  The Gross Margin Score of America First Multifamily Investors, L.P. (NasdaqGS:ATAX) is 28.00000.  The more stable the company, the lower the score.  If a company is less stable over the course of time, they will have a higher score.

The ERP5 Rank is an investment tool that analysts use to discover undervalued companies.  The ERP5 looks at the Price to Book ratio, Earnings Yield, ROIC and 5 year average ROIC.  The ERP5 of America First Multifamily Investors, L.P. (NasdaqGS:ATAX) is 10577.  The lower the ERP5 rank, the more undervalued a company is thought to be.

The M-Score, conceived by accounting professor Messod Beneish, is a model for detecting whether a company has manipulated their earnings numbers or not. America First Multifamily Investors, L.P. (NasdaqGS:ATAX) has an M-Score of -2.536846.  The M-Score is based on 8 different variables: Days’ sales in receivables index, Gross Margin Index, Asset Quality Index, Sales Growth Index, Depreciation Index, Sales, General and Administrative expenses Index, Leverage Index and Total Accruals to Total Assets.  A score higher than -1.78 is an indicator that the company might be manipulating their numbers.

The Value Composite One (VC1) is a method that investors use to determine a company’s value.  The VC1 of America First Multifamily Investors, L.P. (NasdaqGS:ATAX) is 61.  A company with a value of 0 is thought to be an undervalued company, while a company with a value of 100 is considered an overvalued company.  The VC1 is calculated using the price to book value, price to sales, EBITDA to EV, price to cash flow, and price to earnings.  Similarly, the Value Composite Two (VC2) is calculated with the same ratios, but adds the Shareholder Yield.  The Value Composite Two of America First Multifamily Investors, L.P. (NasdaqGS:ATAX) is 48.

There are many different tools to determine whether a company is profitable or not. One of the most popular ratios is the “Return on Assets” (aka ROA). This score indicates how profitable a company is relative to its total assets. The Return on Assets for Clarkson PLC (LSE:CKN) is 0.072467. This number is calculated by dividing net income after tax by the company’s total assets. A company that manages their assets well will have a higher return, while a company that manages their assets poorly will have a lower return.

Taking a step further we can take a look at various other valuation metrics.  Clarkson PLC (LSE:CKN) has a Price to Book ratio of 2.253261. This ratio is calculated by dividing the current share price by the book value per share. Investors may use Price to Book to display how the market portrays the value of a stock. Checking in on some other ratios, the company has a Price to Cash Flow ratio of 15.240445, and a current Price to Earnings ratio of 23.852885. The P/E ratio is one of the most common ratios used for figuring out whether a company is overvalued or undervalued.

The Free Cash Flor Yield 5yr Average is calculated by taking the five year average free cash flow of a company, and dividing it by the current enterprise value.  Enterprise Value is calculated by taking the market capitalization plus debt, minority interest and preferred shares, minus total cash and cash equivalents.  The average FCF of a company is determined by looking at the cash generated by operations of the company.  The Free Cash Flow Yield 5 Year Average of Clarkson PLC (LSE:CKN) is 0.012202. 

The Return on Invested Capital (aka ROIC) for Clarkson PLC (LSE:CKN) is 0.305882.  The Return on Invested Capital is a ratio that determines whether a company is profitable or not.  It tells investors how well a company is turning their capital into profits.  The ROIC is calculated by dividing the net operating profit (or EBIT) by the employed capital.  The employed capital is calculated by subrating current liabilities from total assets.  Similarly, the Return on Invested Capital Quality ratio is a tool in evaluating the quality of a company’s ROIC over the course of five years.  The ROIC Quality of Clarkson PLC (LSE:CKN) is 6.805271.  This is calculated by dividing the five year average ROIC by the Standard Deviation of the 5 year ROIC.  The ROIC 5 year average is calculated using the five year average EBIT, five year average (net working capital and net fixed assets).  The ROIC 5 year average of Clarkson PLC (LSE:CKN) is 0.257383.

Clarkson PLC (LSE:CKN) presently has a current ratio of 1.76. The current ratio, also known as the working capital ratio, is a liquidity ratio that displays the proportion of current assets of a business relative to the current liabilities. The ratio is simply calculated by dividing current liabilities by current assets. The ratio may be used to provide an idea of the ability of a certain company to pay back its liabilities with assets. Typically, the higher the current ratio the better, as the company may be more capable of paying back its obligations.

In terms of value, Clarkson PLC (LSE:CKN) has a Value Composite score of 46. Developed by James O’Shaughnessy, the VC score uses five valuation ratios. These ratios are price to earnings, price to cash flow, EBITDA to EV, price to book value, and price to sales. The VC is displayed as a number between 1 and 100. In general, a company with a score closer to 0 would be seen as undervalued, and a score closer to 100 would indicate an overvalued company. Adding a sixth ratio, shareholder yield, we can view the Value Composite 2 score which is currently sitting at 42.

Quant Ranks (ERP5, Gross Margin, F Score)

The ERP5 Rank is an investment tool that analysts use to discover undervalued companies.  The ERP5 looks at the Price to Book ratio, Earnings Yield, ROIC and 5 year average ROIC.  The ERP5 of Clarkson PLC (LSE:CKN) is 4012.  The lower the ERP5 rank, the more undervalued a company is thought to be.

The Piotroski F-Score is a scoring system between 1-9 that determines a firm’s financial strength.  The score helps determine if a company’s stock is valuable or not.  The Piotroski F-Score of Clarkson PLC (LSE:CKN) is 7.  A score of nine indicates a high value stock, while a score of one indicates a low value stock.  The score is calculated by the return on assets (ROA), Cash flow return on assets (CFROA), change in return of assets, and quality of earnings.  It is also calculated by a change in gearing or leverage, liquidity, and change in shares in issue.  The score is also determined by change in gross margin and change in asset turnover.

Investors may be interested in viewing the Gross Margin score on shares of Clarkson PLC (LSE:CKN). The name currently has a score of 29.00000. This score is derived from the Gross Margin (Marx) stability and growth over the previous eight years. The Gross Margin score lands on a scale from 1 to 100 where a score of 1 would be considered positive, and a score of 100 would be seen as negative.

Price Index

The Price Index is a ratio that indicates the return of a share price over a past period. The price index of Clarkson PLC (LSE:CKN) for last month was 1.01331. This is calculated by taking the current share price and dividing by the share price one month ago. If the ratio is greater than 1, then that means there has been an increase in price over the month. If the ratio is less than 1, then we can determine that there has been a decrease in price. Similarly, investors look up the share price over 12 month periods. The Price Index 12m for Clarkson PLC (LSE:CKN) is 1.22577.
Price Range 52 Weeks

Some of the best financial predictions are formed by using a variety of financial tools. The Price Range 52 Weeks is one of the tools that investors use to determine the lowest and highest price at which a stock has traded in the previous 52 weeks. The Price Range of Clarkson PLC (LSE:CKN) over the past 52 weeks is 0.958000. The 52-week range can be found in the stock’s quote summary.

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