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AERG (Applied Energetics) Piotroski F-Score : 2 (As of Dec. 14, 2024)


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What is Applied Energetics Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 2 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Applied Energetics has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

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

AERG' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 3   Max: 6
Current: 2

During the past 13 years, the highest Piotroski F-Score of Applied Energetics was 6. The lowest was 2. And the median was 3.


Applied Energetics Piotroski F-Score Historical Data

The historical data trend for Applied Energetics'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.

Applied Energetics Piotroski F-Score Chart

Applied Energetics Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.00 6.00 3.00 4.00 3.00

Applied Energetics Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.00 3.00 2.00 2.00 2.00

Competitive Comparison of Applied Energetics's Piotroski F-Score

For the Scientific & Technical Instruments subindustry, Applied Energetics'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.


Applied Energetics's Piotroski F-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Applied Energetics's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Applied Energetics'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 (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was -1.783 + -2.611 + -2.061 + -2.375 = $-8.83 Mil.
Cash Flow from Operations was -0.873 + -1.542 + -1.128 + -1.064 = $-4.61 Mil.
Revenue was 0.872 + 0.134 + 0.781 + 0.748 = $2.54 Mil.
Gross Profit was 0.727 + -0.14 + 0.396 + 0.239 = $1.22 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(4.415 + 3.542 + 3.074 + 4.664 + 3.509) / 5 = $3.8408 Mil.
Total Assets at the begining of this year (Sep23) was $4.42 Mil.
Long-Term Debt & Capital Lease Obligation was $1.02 Mil.
Total Current Assets was $2.03 Mil.
Total Current Liabilities was $0.89 Mil.
Net Income was -1.507 + -1.938 + -1.818 + -1.811 = $-7.07 Mil.

Revenue was 0.544 + 0.487 + 0.56 + 0.713 = $2.30 Mil.
Gross Profit was 0.381 + 0.345 + 0.383 + 0.538 = $1.65 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(2.191 + 6.728 + 5.527 + 4.58 + 4.415) / 5 = $4.6882 Mil.
Total Assets at the begining of last year (Sep22) was $2.19 Mil.
Long-Term Debt & Capital Lease Obligation was $1.04 Mil.
Total Current Assets was $3.02 Mil.
Total Current Liabilities was $0.95 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.

Applied Energetics's current Net Income (TTM) was -8.83. ==> 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.

Applied Energetics's current Cash Flow from Operations (TTM) was -4.61. ==> 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 (Sep23)
=-8.83/4.415
=-2

ROA (Last Year)=Net Income/Total Assets (Sep22)
=-7.074/2.191
=-3.22866271

Applied Energetics's return on assets of this year was -2. Applied Energetics's return on assets of last year was -3.22866271. ==> This year is higher. ==> Score 1.

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.

Applied Energetics's current Net Income (TTM) was -8.83. Applied Energetics's current Cash Flow from Operations (TTM) was -4.61. ==> -4.61 > -8.83 ==> 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: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=1.019/3.8408
=0.26530931

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=1.041/4.6882
=0.22204684

Applied Energetics's gearing of this year was 0.26530931. Applied Energetics's gearing of last year was 0.22204684. ==> Last year is lower than this year ==> Score 0.

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: Sep24)=Total Current Assets/Total Current Liabilities
=2.026/0.889
=2.27896513

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=3.017/0.953
=3.16579224

Applied Energetics's current ratio of this year was 2.27896513. Applied Energetics's current ratio of last year was 3.16579224. ==> 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.

Applied Energetics's number of shares in issue this year was 213.753. Applied Energetics's number of shares in issue last year was 211.133. ==> 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
=1.222/2.535
=0.48205128

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1.647/2.304
=0.71484375

Applied Energetics's gross margin of this year was 0.48205128. Applied Energetics's gross margin of last year was 0.71484375. ==> 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 (Sep23)
=2.535/4.415
=0.57417894

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=2.304/2.191
=1.05157462

Applied Energetics's asset turnover of this year was 0.57417894. Applied Energetics's asset turnover of last year was 1.05157462. ==> 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+1+1+0+0+0+0+0
=2

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

Applied Energetics has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

Applied Energetics  (OTCPK:AERG) 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.


Applied Energetics Piotroski F-Score Related Terms

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Applied Energetics Business Description

Traded in Other Exchanges
N/A
Address
9070 S. Rita Road, Suite 1500, Tucson, AZ, USA, 85747
Applied Energetics Inc specializes in the development and manufacture of high-performance lasers, high-voltage electronics, optical systems, and integrated guided energy systems for prospective defense, national security, industrial, and scientific customers. The company pioneered and holds all crucial intellectual property rights to the development and use of Laser Guided Energy technology and related solutions for commercial, defense, and security applications, and is protected by patents and additional Government Sensitive Patent Applications GSPA. The company's GSPAs are held under the secrecy orders of the United States government and allows it greatly extended protection rights.
Executives
Gregory James Quarles director, officer: President and CEO 2480 W. RUTHRAUFF ROAD, SUITE 1400, TUSCAN AZ 85705
Bradford Thomas Adamczyk director 16A HARSTON, 109 REPULSE BAY ROAD, REPULSE BAY K3 00000
Christopher Wayne Donaghey officer: CFO/COO 207 MCLEAN PL, SEVERNA PARK MD 21146
Schultz John E. Jr. director 2480 W RUTHRAUFF ROAD, SUITE 140 Q, TUCSON AZ 85705
Mary Payton O'hara director C/O APPLIED ENERGETICS, INC., 9070 S. RITA ROAD, SUITE 1500, TUCSON AZ 85747
Jonathan Barcklow director, officer: Vice President and Secretary 6412 BRANDON AVE #335, SPRINGFIELDS VA 22150
George P Farley director, officer: CEO C/O ICAD, INC., 98 SPIT BROOK ROAD, SUITE 100, NASHUA NH 03062
Joseph Hayden 10 percent owner, officer: Vice Pres Business Development C/O APPLIED ENERGETICS, INC., 3716 E. COLUMBIA ST., STE 120, TUCSON AZ 85714
Humberto Astorga officer: Controller C/O APPLIED ENERGETICS, INC., 3590 EAST COLUMBIA STREET, TUCSON AZ 85714
Eric Lau officer: COO and VP of Engineering C/O APPLIED ENERGETICS, INC., 3590 EAST COLUMBIA STREET, TUCSON AZ 85714
John F Levy director C/O WASHINGTON PRIME GROUP INC., 180 EAST BROAD STREET, COLUMBUS OH 43215
Mark Lister director C/O APPLIED ENERGETICS, INC., 3590 EAST COLUMBIA STREET, TUCSON AZ 85714
James M Feigley director C/O APPLIED ENERGETICS, INC., 3590 EAST COLUMBIA STREET, TUCSON AZ 85714
Dana A Marshall director, officer: President and CEO C/O APPLIED ENERGETICS, INC., 3716 EAST COLUMBIA ST., SUITE 120, TUCSON AZ 85714
Kenneth M Wallace officer: Chief Financial Officer C/O APPLIED ENERGETICS, INC., 3716 E. COLUMBIA ST., STE 120, TUCSON AZ 85714