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)

4 / 9

Return on assets (ROA) greater than 0

check 5.7%

Operating cash flow greater than 0

check $6.29M

ROA greater than previous year

close 5.7% ≤ 20.1%

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

check 13.0% > 5.7%

Leverage ratio lower than previous year

close 3.0% ≥ 1.6%

Current ratio greater than previous year

check 346.8% > 186.7%

No new common stock issued last year

close $3.83K

Gross margin greater than previous year

close 46.7% ≤ 53.2%

Asset turnover greater than previous year

close 93.4% ≤ 126.4%

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.