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Ocean Power Technologies (Ocean Power Technologies) Piotroski F-Score

: 2 (As of Today)
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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

Ocean Power Technologies 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 Ocean Power Technologies's Piotroski F-Score or its related term are showing as below:

OPTT' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 3   Max: 5
Current: 2

During the past 13 years, the highest Piotroski F-Score of Ocean Power Technologies was 5. The lowest was 2. And the median was 3.


Ocean Power Technologies Piotroski F-Score Historical Data

The historical data trend for Ocean Power 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.

Ocean Power Technologies Annual Data
Trend Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 Apr20 Apr21 Apr22 Apr23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 3.00 3.00 4.00 3.00

Ocean Power Technologies Quarterly Data
Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24
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 4.00 3.00 3.00 3.00 2.00

Competitive Comparison

For the Specialty Industrial Machinery subindustry, Ocean Power Technologies'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.


Ocean Power Technologies Piotroski F-Score Distribution

For the Industrial Products industry and Industrials sector, Ocean Power Technologies's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Ocean Power Technologies'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 (Jan24) TTM:Last Year (Jan23) TTM:
Net Income was -9.54 + -7.039 + -7.213 + -6.509 = $-30.30 Mil.
Cash Flow from Operations was -5.618 + -7.99 + -7.505 + -9.216 = $-30.33 Mil.
Revenue was 0.98 + 1.272 + 0.889 + 1.792 = $4.93 Mil.
Gross Profit was -0.134 + 0.663 + 0.488 + 0.813 = $1.83 Mil.
Average Total Assets from the begining of this year (Jan23)
to the end of this year (Jan24) was
(59.043 + 53.374 + 45.679 + 39.622 + 34.564) / 5 = $46.4564 Mil.
Total Assets at the begining of this year (Jan23) was $59.04 Mil.
Long-Term Debt & Capital Lease Obligation was $2.07 Mil.
Total Current Assets was $17.54 Mil.
Total Current Liabilities was $7.04 Mil.
Net Income was -5.153 + -5.852 + -4.844 + -6.09 = $-21.94 Mil.

Revenue was 0.756 + 0.714 + 0.303 + 0.734 = $2.51 Mil.
Gross Profit was 0.216 + 0.194 + 0.039 + 0.136 = $0.59 Mil.
Average Total Assets from the begining of last year (Jan22)
to the end of last year (Jan23) was
(78.356 + 73.393 + 67.998 + 64.638 + 59.043) / 5 = $68.6856 Mil.
Total Assets at the begining of last year (Jan22) was $78.36 Mil.
Long-Term Debt & Capital Lease Obligation was $0.28 Mil.
Total Current Assets was $45.22 Mil.
Total Current Liabilities was $4.75 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.

Ocean Power Technologies's current Net Income (TTM) was -30.30. ==> 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.

Ocean Power Technologies's current Cash Flow from Operations (TTM) was -30.33. ==> 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 (Jan23)
=-30.301/59.043
=-0.51320224

ROA (Last Year)=Net Income/Total Assets (Jan22)
=-21.939/78.356
=-0.27999132

Ocean Power Technologies's return on assets of this year was -0.51320224. Ocean Power Technologies's return on assets of last year was -0.27999132. ==> 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.

Ocean Power Technologies's current Net Income (TTM) was -30.30. Ocean Power Technologies's current Cash Flow from Operations (TTM) was -30.33. ==> -30.33 <= -30.30 ==> CFROA <= ROA ==> Score 0.

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: Jan24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jan23 to Jan24
=2.065/46.4564
=0.04445028

Gearing (Last Year: Jan23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jan22 to Jan23
=0.282/68.6856
=0.00410566

Ocean Power Technologies's gearing of this year was 0.04445028. Ocean Power Technologies's gearing of last year was 0.00410566. ==> 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: Jan24)=Total Current Assets/Total Current Liabilities
=17.544/7.035
=2.49381663

Current Ratio (Last Year: Jan23)=Total Current Assets/Total Current Liabilities
=45.222/4.746
=9.52844501

Ocean Power Technologies's current ratio of this year was 2.49381663. Ocean Power Technologies's current ratio of last year was 9.52844501. ==> 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.

Ocean Power Technologies's number of shares in issue this year was 58.866. Ocean Power Technologies's number of shares in issue last year was 55.967. ==> 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
=1.83/4.933
=0.37097101

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=0.585/2.507
=0.23334663

Ocean Power Technologies's gross margin of this year was 0.37097101. Ocean Power Technologies's gross margin of last year was 0.23334663. ==> This year's gross margin is higher. ==> Score 1.

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 (Jan23)
=4.933/59.043
=0.08354928

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jan22)
=2.507/78.356
=0.031995

Ocean Power Technologies's asset turnover of this year was 0.08354928. Ocean Power Technologies's asset turnover of last year was 0.031995. ==> 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+0+0+0+0+0+0+1+1
=2

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

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

Ocean Power Technologies  (AMEX:OPTT) 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.


Ocean Power Technologies Piotroski F-Score Related Terms

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Ocean Power Technologies (Ocean Power Technologies) Business Description

Traded in Other Exchanges
Address
28 Engelhard Drive, Suite B, Monroe Township, NJ, USA, 08831
Ocean Power Technologies Inc provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets. It provides ocean data collection and reporting, marine power, offshore communications, and Maritime Domain Awareness System (MDAS) products, integrated solutions, and consulting services. The company offers its products and services to a wide range of customers, including those in government and offshore energy, oil and gas, construction, wind power, and other industries. The company has operations in North and South America, Europe, Asia and Australia.
Executives
Peter E. Slaiby director 28 ENGELHARD DRIVE,, SUITE B, MONROE TOWNSHIP NJ 08831
Robert Patrick Powers officer: Senior VP and CFO 968 ALBANY SHAKER ROAD, LATHAM NY 12110
Philipp Stratmann officer: President and CEO 28 ENGELHARD DRIVE, SUITE B, MONROE TOWNSHIP NJ 08831
Lorenz Anderson Natalie M. director 28 ENGELHARD DRIVE, SUITE B, MONROE TOWNSHIP NJ 08831
Joseph Dipietro officer: Controller and Treasurer 28 ENGELHARD DRIVE, SUITE B, MONROE TOWNSHIP NJ 08831
Robert K Winters director 280 6TH AVENUE, BROOKLYN NY 11215
Diana G Purcel director C/O FAMOUS DVES OF AMERICA INC, 8091 WALLACE ROAD, EDEN PRAIRIE MN 55344
Clyde W Hewlett director 28, ENGLAND DRIVE, SUITE B, MONROE TOWNSHIP NJ 08831
Kirby George H Iii director, officer: President, CEO, and Director 28 ENGELHARD DRIVE, MONROE TOWNSHIP NJ 08831
Dean J Glover director C/O GLOBAL POWER EQUIPMENT GROUP INC., 5199 N. MINGO ROAD, TULSA OK 74117
Terence James Cryan director 2 HAMPSHIRE RD, BRONXVILLE NY 10708
Kristine S Moore director 28 ENGELHARD DRIVE, PENNINGTON NJ 08831
Steven M Fludder director 264 NANTASKET ROAD, HULL MA 02045
Christopher Phebus officer: Vice President - Engineering 28 ENGELHARD DRIVE, MONOROE TOWNSHIP NJ 08831
Matthew T Shafer officer: CFO and Treasurer 1590 REED ROAD, PENNINGTON NJ 08534