PFMT has been successfully added to your Stock Email Alerts list.
You can manage your stock email alerts here.
PFMT has been removed from your Stock Email Alerts list.
Please enter Portfolio Name for new portfolio.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Performant Financial has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Performant Financial's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Performant Financial was 5. The lowest was 2. And the median was 4.
The historical data trend for Performant Financial'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.
Performant Financial Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 2.00 | 5.00 | 4.00 | 4.00 | 4.00 |
Performant Financial Quarterly Data | ||||||||||||||||||||
Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Piotroski F-Score | Get a 7-Day Free Trial | 4.00 | 2.00 | 3.00 | 4.00 | 4.00 |
For the Specialty Business Services subindustry, Performant Financial's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Business Services industry and Industrials sector, Performant Financial's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Performant Financial's Piotroski F-Score falls into.
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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Net Income was -4.221 + -3.973 + -0.58 + 1.255 = $-7.5 Mil. Cash Flow from Operations was -2.149 + 4.414 + 3.482 + -1.887 = $3.9 Mil. Revenue was 25.729 + 25.485 + 29.962 + 32.567 = $113.7 Mil. Gross Profit was 25.729 + 25.485 + 29.962 + 32.567 = $113.7 Mil. Average Total Assets from the begining of this year (Dec22) to the end of this year (Dec23) was (118.833 + 103.638 + 100.595 + 100.71 + 99.03) / 5 = $104.5612 Mil. Total Assets at the begining of this year (Dec22) was $118.8 Mil. Long-Term Debt & Capital Lease Obligation was $5.3 Mil. Total Current Assets was $39.8 Mil. Total Current Liabilities was $12.4 Mil. |
Net Income was -1.673 + -3.169 + -1.46 + -0.235 = $-6.5 Mil. Revenue was 27.083 + 25.681 + 27.178 + 29.242 = $109.2 Mil. Gross Profit was 27.083 + 25.681 + 27.178 + 29.242 = $109.2 Mil. Average Total Assets from the begining of last year (Dec21) to the end of last year (Dec22) was (121.985 + 121.776 + 119.859 + 118.28 + 118.833) / 5 = $120.1466 Mil. Total Assets at the begining of last year (Dec21) was $122.0 Mil. Long-Term Debt & Capital Lease Obligation was $19.3 Mil. Total Current Assets was $57.5 Mil. Total Current Liabilities was $14.2 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.
Performant Financial's current Net Income (TTM) was -7.5.
==> 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.
Performant Financial's current Cash Flow from Operations (TTM) was 3.9.
==> Positive ==> Score 1.
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 (Dec22) |
= | -7.519 | / | 118.833 | |
= | -0.06327367 |
ROA (Last Year) | = | Net Income | / | Total Assets (Dec21) |
= | -6.537 | / | 121.985 | |
= | -0.05358856 |
Performant Financial's return on assets of this year was -0.06327367. Performant Financial's return on assets of last year was -0.05358856.
==> 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.
Performant Financial's current Net Income (TTM) was -7.5. Performant Financial's current Cash Flow from Operations (TTM) was 3.9.
==> 3.9 > -7.5 ==> 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: Dec23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec22 to Dec23 |
= | 5.295 | / | 104.5612 | |
= | 0.0506402 |
Gearing (Last Year: Dec22) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec21 to Dec22 |
= | 19.26 | / | 120.1466 | |
= | 0.16030416 |
Performant Financial's gearing of this year was 0.0506402. Performant Financial's gearing of last year was 0.16030416.
==> 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: Dec23) | = | Total Current Assets | / | Total Current Liabilities |
= | 39.782 | / | 12.38 | |
= | 3.21340872 |
Current Ratio (Last Year: Dec22) | = | Total Current Assets | / | Total Current Liabilities |
= | 57.507 | / | 14.207 | |
= | 4.04779334 |
Performant Financial's current ratio of this year was 3.21340872. Performant Financial's current ratio of last year was 4.04779334.
==> Last year's current ratio is higher ==> Score 0.
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.
Performant Financial's number of shares in issue this year was 76.903. Performant Financial's number of shares in issue last year was 74.308.
==> 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 |
= | 113.743 | / | 113.743 | |
= | 1 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 109.184 | / | 109.184 | |
= | 1 |
Performant Financial's gross margin of this year was 1. Performant Financial's gross margin of last year was 1.
==> 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 (Dec22) |
= | 113.743 | / | 118.833 | |
= | 0.95716678 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Dec21) |
= | 109.184 | / | 121.985 | |
= | 0.89506087 |
Performant Financial's asset turnover of this year was 0.95716678. Performant Financial's asset turnover of last year was 0.89506087.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score | = | Que. 1 | + | Que. 2 | + | Que. 3 | + | Que. 4 | + | Que. 5 | + | Que. 6 | + | Que. 7 | + | Que. 8 | + | Que. 9 |
= | 0 | + | 1 | + | 0 | + | 1 | + | 1 | + | 0 | + | 0 | + | 0 | + | 1 | |
= | 4 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Performant Financial has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Performant Financial (NAS:PFMT) 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.
Thank you for viewing the detailed overview of Performant Financial's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Prescott Group Capital Management, L.l.c. | 10 percent owner | 1924 SOUTH UTICA, SUITE 1120, TULSA OK 74104-6429 |
Rohit Ramchandani | officer: Chief Financial Officer | 333 NORTH CANYONS PARKWAY, LIVERMORE CA 94551 |
Ecmc Group, Inc. | 10 percent owner | 1 IMATION PLACE, BLDG 2, SUITE 392A, OAKDALE MN 55128 |
Pcp Managers Gp, Llc | 10 percent owner | FOUR EMBARCADERO CENTER, SUITE 3610, SAN FRANCISCO CA 94111 |
Parthenon Dcs Holdings, Llc | 10 percent owner | C/O PARTHENON CAPITAL PARTNERS, FOUR EMBARCADERO CENTER, SAN FRANCISCO CA 94111 |
Eric Yanagi | director | 400 OYSTER POINT BOULEVARD, SUITE 526, SOUTH SAN FRANCISCO CA 94080 |
Pcp Managers, L.p. | 10 percent owner | C/O PARTHENON CAPITAL PARTNERS, FOUR EMBARCADERO CENTER, SUITE 3610, SAN FRANCISCO CA 94111 |
Pcap Ii, Llc | 10 percent owner | C/O PARTHENON CAPITAL PARTNERS, FOUR EMBARCADERO CENTER, SAN FRANCISCO CA 94111 |
Pcap Partners Ii, Llc | 10 percent owner | C/O PARTHENON CAPITAL PARTNERS, FOUR EMBARCADERO CENTER, SAN FRANCISCO CA 94111 |
Parthenon Investors Ii. L.p. | 10 percent owner | C/O PARTHENON CAPITAL PARTNERS, 400 EMBARCADERO CENTER, SAN FRANCISCO CA 94111 |
James Lacamp | director | 333 NORTH CANYONS PARKWAY, LIVERMORE CA 94551 |
Prescott Group Aggressive Small Cap Lp | 10 percent owner | 1924 SOUTH IRICA SUITE 1120, TULSA OK 741046529 |
Prescott Group Aggressive Small Cap Master Fund Gp | 10 percent owner | 1924 S UTICA SUITE # 1120, TULSA OK 74104-6529 |
Prescott Group Aggressive Small Cap Ii Lp | 10 percent owner | 1924 S UTICA SUITE # 1120, TULSA OK 74104-6529 |
Phil Frohlich | 10 percent owner | 1924 SOUTH IRICA SUITE 1120, TULSA OK 741046529 |
From GuruFocus
By Business Wire Business Wire • 03-08-2022
By Business Wire Business Wire • 11-02-2022
By Business Wire • 08-02-2023
By Business Wire Business Wire • 06-22-2022
By Business Wire Business Wire • 05-09-2023
By Business Wire Business Wire • 02-08-2022
By Business Wire Business Wire • 11-02-2021
By Business Wire • 09-25-2023
By Business Wire Business Wire • 05-02-2022
By Business Wire Business Wire • 08-17-2021
Disclaimers: GuruFocus.com is not operated by a broker or a dealer. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. This investment adviser does not provide advice to individual investors. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.