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Daystar Technologies (Daystar Technologies) Piotroski F-Score : 0 (As of May. 09, 2024)


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What is Daystar Technologies Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Daystar Technologies has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for Daystar Technologies's Piotroski F-Score or its related term are showing as below:


Daystar Technologies Piotroski F-Score Historical Data

The historical data trend for Daystar Technologies's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Daystar Technologies Piotroski F-Score Chart

Daystar Technologies Annual Data
Trend Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11
Piotroski F-Score
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Daystar Technologies Quarterly Data
Dec07 Mar08 Jun08 Sep08 Dec08 Mar09 Jun09 Sep09 Dec09 Mar10 Jun10 Sep10 Dec10 Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12
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How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Sep12) TTM:Last Year (Sep11) TTM:
Net Income was -0.706 + -0.925 + -1.371 + -1.487 = $-4.49 Mil.
Cash Flow from Operations was -0.175 + -0.493 + -0.069 + -0.448 = $-1.19 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Average Total Assets from the begining of this year (Sep11)
to the end of this year (Sep12) was
(14.587 + 14.104 + 13.908 + 13.947 + 13.882) / 5 = $14.0856 Mil.
Total Assets at the begining of this year (Sep11) was $14.59 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Total Current Assets was $0.54 Mil.
Total Current Liabilities was $11.22 Mil.
Net Income was -2.253 + -0.383 + -1.063 + -1.29 = $-4.99 Mil.

Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Average Total Assets from the begining of last year (Sep10)
to the end of last year (Sep11) was
(22.343 + 18.64 + 15.228 + 14.757 + 14.587) / 5 = $17.111 Mil.
Total Assets at the begining of last year (Sep10) was $22.34 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Total Current Assets was $0.33 Mil.
Total Current Liabilities was $9.89 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Daystar Technologies's current Net Income (TTM) was -4.49. ==> Negative ==> Score 0.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Daystar Technologies's current Cash Flow from Operations (TTM) was -1.19. ==> Negative ==> Score 0.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Sep11)
=-4.489/14.587
=-0.30773977

ROA (Last Year)=Net Income/Total Assets (Sep10)
=-4.989/22.343
=-0.22329141

Daystar Technologies's return on assets of this year was -0.30773977. Daystar Technologies's return on assets of last year was -0.22329141. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Daystar Technologies's current Net Income (TTM) was -4.49. Daystar Technologies's current Cash Flow from Operations (TTM) was -1.19. ==> -1.19 > -4.49 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Sep12)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep11 to Sep12
=0/14.0856
=0

Gearing (Last Year: Sep11)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep10 to Sep11
=0/17.111
=0

Daystar Technologies's gearing of this year was 0. Daystar Technologies's gearing of last year was 0. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Sep12)=Total Current Assets/Total Current Liabilities
=0.541/11.219
=0.04822177

Current Ratio (Last Year: Sep11)=Total Current Assets/Total Current Liabilities
=0.326/9.889
=0.03296592

Daystar Technologies's current ratio of this year was 0.04822177. Daystar Technologies's current ratio of last year was 0.03296592. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Daystar Technologies's number of shares in issue this year was 1.697. Daystar Technologies's number of shares in issue last year was 1.335. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=0/0
=

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=0/0
=

Daystar Technologies's gross margin of this year was . Daystar Technologies's gross margin of last year was . ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Sep11)
=0/14.587
=0

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep10)
=0/22.343
=0

Daystar Technologies's asset turnover of this year was 0. Daystar Technologies's asset turnover of last year was 0. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+0+0+1+1+1+0+0+0
=3

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Daystar Technologies has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Daystar Technologies  (OTCPK:DSTI) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Daystar Technologies Piotroski F-Score Related Terms

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Daystar Technologies (Daystar Technologies) Business Description

Traded in Other Exchanges
N/A
Address
DayStar Technologies, Inc., a Delaware corporation, was incorporated in February 1997. It completed its initial public offering in February 2004. It is a development stage enterprise, which develops, manufactures and markets products for the solar photovoltaic (PV) industry. The Company has developed a proprietary thin film deposition technology for solar photovoltaic (PV) products. It utilizes a proprietary one-step sputter deposition process and has manufactured a commercial scale deposition tool to apply high-efficiency copper indium gallium diselenide (CIGS) material over large area glass substrates in a continuous fashion. The Company intends to integrate this tool with commercially available thin film manufacturing equipment, which will provide it with a critically differentiated manufacturing process to produce low-cost monolithically integrated, CIGS-on-glass modules that address the grid-tied, ground-based PV market. It has initiated construction of its initial module production line. To facilitate its entry into the addressable solar PV market, it has entered into a contract with Blitzstrom GmbH, one of thin film solar PV integrators, that commits Blitzstrom to purchase a minimum of 50% of its production through 2011, subject to these products meeting defined performance criteria. The solar electricity industry currently supplies modules used in solar PV systems primarily for grid-connected systems.
Executives
William Steckel director 2972 STENDER WAY, SANTA CLARA CA 95054
Richard C Green director 4200 W 115TH STREET, SUITE 210, LEAWOOD KS 66211
Kevin S Flannery director
Richard Nevins director 20580 PALMER AVENUE, SONOMA CA 95476
Scott M Schecter director
Lampe, Conway & Co. Llc 10 percent owner 680 FIFTH AVENUE, SUITE 1202, NEW YORK NY 10019
Lc Capital International Llc 10 percent owner C/O LAMPE, CONWAY & CO., LLC, 680 FIFTH AVENUE, SUITE 1202, NEW YORK NY 10019
Lc Capital Advisors Llc 10 percent owner C/O LAMPE, CONWAY & CO., LLC, 680 FIFTH AVENUE, SUITE 1202, NEW YORK NY 10019
Richard F Conway 10 percent owner C/O LAMPE, CONWAY & CO. LLC, 680 FIFTH AVENUE, SUITE 1202, NEW YORK NY 10019
Steven Lampe 10 percent owner C/O LAMPE, CONWAY & CO. LLC, 680 FIFTH AVENUE, SUITE 1202, NEW YORK NY 10019
Lc Capital Master Fund Ltd 10 percent owner C/O TRIDENT FUND SERVICES (BVI) LIMITED, PO BOX 146, WATERFRONT DR, WICKHAMS CAY, ROAD TOWN, TORTOLA D8 00000
Lc Capital Partners Lp 10 percent owner 680 FIFTH AVENUE, SUITE 1202, NEW YORK NY 10019
Quercus Trust other: Former 10% Owner 2309 SANTIAGO DRIVE, NEWPORT BEACH CA 92660
Steven Aragon officer: Vice-President Engineering 355 SOUTH TECHNOLOGY DRIVE, CENTRAL ISLIP NY 11722
David Gelbaum 10 percent owner, other: Co-Trustee 2309 SANTIAGO DRIVE, NEWPORT BEACH CA 92660

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