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.

You are viewing the F-Value as of March 31, 2023. Click to view the current F-Value instead.

Financial strength (Piotroski F-Value)

3 / 9

Return on assets (ROA) greater than 0

check 2.0%

Operating cash flow greater than 0

close -$91.46M

ROA greater than previous year

check 2.0% > -42.1%

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

close -87.3% ≤ 2.0%

Leverage ratio lower than previous year

close 49.3% ≥ 37.5%

Current ratio greater than previous year

close 534.5% ≤ 1,063.4%

No new common stock issued last year

close $129.65K

Gross margin greater than previous year

close -80.6% ≤ -31.6%

Asset turnover greater than previous year

check 16.5% > 10.9%

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.