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)

3 / 9

Return on assets (ROA) greater than 0

check 11.5%

Operating cash flow greater than 0

check $67.94M

ROA greater than previous year

close 11.5% ≤ 11.6%

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

check 13.2% > 11.5%

Leverage ratio lower than previous year

close 8.1% ≥ 6.7%

Current ratio greater than previous year

close 287.4% ≤ 309.1%

No new common stock issued last year

close $2.72M

Gross margin greater than previous year

close 52.8% ≤ 60.4%

Asset turnover greater than previous year

close 74.8% ≤ 84.9%

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.