The F-Value, developed by Stanford accounting professor Joseph Piotroski, measures a company's financial strength based on nine distinct criteria. Piotroski suggest using the value as part of a value investing strategy to rank stocks with a low price-to-book ratio. The approach is described in detail in Piotroski's 2002 Paper Value Investing: The Use of Historical Financial Statement Information to Separate Winners From Losers.

Financial strength (Piotroski F-Value)

6 / 9

Return on assets (ROA) greater than 0

close -165.5%

Operating cash flow greater than 0

close -$961.16K

ROA greater than previous year

check -165.5% > -186.2%

Cash flow return on assets (CFROA) greater than Return on assets (ROA)

check -65.5% > -165.5%

Leverage ratio lower than previous year

check 7.1% < 17.5%

Current ratio greater than previous year

check 74.0% > 73.8%

No new common stock issued last year

close $1.32M

Gross margin greater than previous year

check 23.2% > -20.8%

Asset turnover greater than previous year

check 7.1% > 2.9%

F-Value history

The F-Value is calculated for each quarter based on the cumulation of the previous four quarterly statements. Click on the chart to see the F-Value at a specific time in the past.