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

close -5.9%

Operating cash flow greater than 0

close -$923.55K

ROA greater than previous year

check -5.9% > -8.5%

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

close -19.0% ≤ -5.9%

Leverage ratio lower than previous year

close 12.2% ≥ 4.5%

Current ratio greater than previous year

close 234.2% ≤ 1,157.4%

No new common stock issued last year

close $721.12K

Gross margin greater than previous year

check 8.8% > -2.8%

Asset turnover greater than previous year

check 24.3% > 22.5%

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.