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 5.8%

Operating cash flow greater than 0

check $1.99M

ROA greater than previous year

close 5.8% ≤ 10.0%

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

check 19.2% > 5.8%

Leverage ratio lower than previous year

close 6.6% ≥ 2.2%

Current ratio greater than previous year

close 214.8% ≤ 303.8%

No new common stock issued last year

check $0.00

Gross margin greater than previous year

check 30.8% > 20.8%

Asset turnover greater than previous year

close 92.6% ≤ 164.5%

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.