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Stock
IBM
Calculate
Piotroski F Score
Piotroski
Piotroski
Piotroski
Piotroski
Piotroski
Piotroski
Piotroski
Piotroski
Piotroski
1:
2:
3:
4:
5:
6:
7:
8:
9:
Net Income
Operating Cash Flow
Return on Assets
Quality of Earnings
LT Debt vs Assets
Current Ratio
Shares Outstanding
Gross Margin
Asset Turnover
2012
2013
2014
#REF!
1
0
#REF!
0
#REF!
#REF!
#REF!
#REF!
#REF!
1
1
1
1
0
0
1
0
1
1
1
1
1
0
1
1
1
0
Piotroski Score
A discrete score between 0-9 which reflects nine criteria used to determine the strength of a firm'
position. The Piotroski score is used to determine the best value stocks, nine being the best. The
named after Chicago Accounting Professor, Joseph Piotroski who devised the scale according to sp
found in the financial statements. For every criteria (below) that is met the company is given one
not met, then no points are awarded. The points are then added up to determine the best value s
Profitability
*
*
*
*
* Lower ratio of long term debt to in the current period compared value in the previous year (1
* Higher current ratio this year compared to the previous year (1 point)
* No new shares were issued in the last year (1 point)
Operating Efficiency
* A higher gross margin compared to the previous year (1 point)
* A higher asset turnover ratio compared to the previous year (1 point)
http://www.oldschoolvalue.com
point)
2012
$
$
ROA
2013
3.21
1,301.72
$
$
0.2%
4.55
1,357.17
0.3%
LT Debt
LT Debt/Total Assets
1.90
1.15
Current Assets
Current Liabilities
Current Ratio
$
$
125.08
41.50
3.01
$
$
131.03
49.14
2.67
$
$
Revenues
Gross Income
Gross Margin
$
$
Asset Turnover
(35.36) $
11.73 $
0.01 $
225.44
105.41
43.96
41.7%
$
$
0.08
46.11
9.31
0.02
225.35
145.00
48.71
33.6%
0.11
Piotroski Calcaulation
Piotroski 1: Net Income
Piotroski 2: Operating Cash Flow
Piotroski 3: Return on Assets
Piotroski 4: Quality of Earnings
Piotroski 5: LT Debt vs Assets
Piotroski 6: Current Ratio
Piotroski 7: Shares Outstanding
Piotroski 8: Gross Margin
Piotroski 9: Asset Turnover
Piotroski F Score
2012
1
0
#REF!
0
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
2013
1
1
1
1
0
0
1
0
1
6
o Update
2014
$
$
6.95
1,286.76
0.5%
2015
2016
$
8.08 $
17.24
$ 1,286.46 $ 1,447.21
1%
1%
95.61
123.53
156.86
1.51
0.72
0.72
$
$
131.61
36.86
3.57
$
$
133.05
32.81
4.06
$
$
191.41
82.28
2.33
$
$
$
$
13.22 $
0.03 $
225.35
119.51
41.39
34.6%
$
$
12.70 $
0.04 $
225.35
128.02
40.93
32%
$
$
30.09
0.07
225.35
249.34
79.14
32%
0.09
0.10
0.17
2014
1
1
1
1
0
1
1
1
0
7
2015
1
1
1
1
0
1
1
0
1
7
2016
1
1
1
1
0
0
1
0
1
6
Average
#REF!