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)

5 / 9

Return on assets (ROA) greater than 0

check 5.4%

Operating cash flow greater than 0

check $23.69M

ROA greater than previous year

close 5.4% ≤ 8.4%

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

check 8.0% > 5.4%

Leverage ratio lower than previous year

close 2.6% ≥ 2.3%

Current ratio greater than previous year

check 394.5% > 283.7%

No new common stock issued last year

close $346.11K

Gross margin greater than previous year

check 77.5% > 23.1%

Asset turnover greater than previous year

close 66.3% ≤ 75.7%

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.