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 -0.5%

Operating cash flow greater than 0

check $2.44M

ROA greater than previous year

check -0.5% > -0.5%

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

check 7.4% > -0.5%

Leverage ratio lower than previous year

check 9.5% < 28.0%

Current ratio greater than previous year

close 86.4% ≤ 99.2%

No new common stock issued last year

check $0.00

Gross margin greater than previous year

close 35.6% ≤ 36.9%

Asset turnover greater than previous year

check 134.5% > 96.2%

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.