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 -141.0%

Operating cash flow greater than 0

close -$2.46M

ROA greater than previous year

close -141.0% ≤ -60.2%

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

check -106.1% > -141.0%

Leverage ratio lower than previous year

close 49.0% ≥ 5.3%

Current ratio greater than previous year

check 16.0% > 7.6%

No new common stock issued last year

close $1.34M

Gross margin greater than previous year

close -726.5% ≤ 0.0%

Asset turnover greater than previous year

check 12.0% > 0.0%

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.