Piotroski F-Score
A 0-to-9 scorecard of a company's fundamental strength based on nine pass/fail financial tests.
What it is
The Piotroski F-Score, created by accounting professor Joseph Piotroski in 2000, rates a company's financial strength on a scale of 0 to 9. It awards one point for each of nine yes/no tests covering profitability, leverage and liquidity, and operating efficiency. A higher score points to stronger, improving fundamentals.
Why it matters
It is a simple, transparent way to separate financially improving companies from deteriorating ones, and it was originally designed to find healthy firms among cheap value stocks. Scores of 8 or 9 indicate strong fundamentals, while 0 to 2 signals weakness. Because it rewards year-over-year improvement, a high score reflects positive momentum in the fundamentals, not just a strong snapshot.
How it's calculated
It sums nine binary tests across three areas, awarding one point each: profitability (positive net income, positive operating cash flow, rising return on assets, and operating cash flow exceeding net income), leverage/liquidity (falling long-term debt ratio, rising current ratio, and no new shares issued), and efficiency (rising gross margin and rising asset turnover). The total ranges from 0 to 9.
How Quintarthai uses it
Piotroski-style fundamental quality signals feed Quinn's bull/bear and QuinnScore analysis on a company's deep-analysis page, and quality metrics are available across the screener and company pages.