FirstWave Cloud TechnologyASX:FCT -10.00% Piotroski F-Score is 6 as of Jun. 27, 2026, which is 50% above its 10-year median of 4.00. The stock has 6 warning signs investors should review. Among 2,743 Software companies, FirstWave Cloud Technology ranks better than 78.75% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
FirstWave Cloud Technology has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for FirstWave Cloud Technology's Piotroski F-Score or its related term are showing as below:
ASX:FCT'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 4 Max: 6
Current: 6
During the past 13 years, the highest Piotroski F-Score of FirstWave Cloud Technology was 6. The lowest was 2. And the median was 4.
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.
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.
FirstWave Cloud Technology Piotroski F-Score Related Terms
FirstWave Cloud Technology Piotroski F-Score Historical Data
* 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.
ASX:FCT vs MSFT, ORCL, PLTR: Piotroski F-Score Comparison
For the Software - Infrastructure subindustry, FirstWave Cloud Technology'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.
FirstWave Cloud Technology Piotroski F-Score vs Software Industry
For the Software industry and Technology sector, FirstWave Cloud Technology's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where FirstWave Cloud Technology's Piotroski F-Score falls into.
* 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.
*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.
FirstWave Cloud Technology's current Net Income (TTM) was -13.98.
==> 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.
FirstWave Cloud Technology's current Cash Flow from Operations (TTM) was 0.17.
==> 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.
FirstWave Cloud Technology's return on assets of this year was -0.33382694. FirstWave Cloud Technology's return on assets of last year was -0.36380862.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
FirstWave Cloud Technology's gearing of this year was 0. FirstWave Cloud Technology's gearing of last year was 0.04271904.
==> 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
FirstWave Cloud Technology's current ratio of this year was 0.1914099. FirstWave Cloud Technology's current ratio of last year was 0.86132707.
==> 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.
FirstWave Cloud Technology's number of shares in issue this year was 1712.3. FirstWave Cloud Technology's number of shares in issue last year was 1707.794.
==> 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.
FirstWave Cloud Technology's gross margin of this year was 0.88003202. FirstWave Cloud Technology's gross margin of last year was 0.78017203.
==> 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
FirstWave Cloud Technology's asset turnover of this year was 0.20884186. FirstWave Cloud Technology's asset turnover of last year was 0.17806727.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
FirstWave Cloud Technology has an F-score of 6 indicating the company's financial situation is typical for a stable company.
FirstWave Cloud Technology (ASX:FCT) has a Piotroski F-Score of 6 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on FirstWave Cloud Technology and its competitors. This is 50% above median its historical median of 4.00. Over the past decade, FirstWave Cloud Technology's Piotroski F-Score has ranged from 2.00 to 6.00. According to the industry distribution chart, FirstWave Cloud Technology ranks #583 out of 2743 companies in the Software industry, placing it in the top 21.3%.
Is FirstWave Cloud Technology's Piotroski F-Score too high?
FirstWave Cloud Technology's current Piotroski F-Score of 6 is 50% above median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 6.00. The Software industry median Piotroski F-Score is 5.00. FirstWave Cloud Technology's value of 6 is 20% above this industry median. Based on the distribution chart, FirstWave Cloud Technology ranks #583 out of 2743 companies in the Software industry, which is in the top quartile — a strong position relative to peers.
How does FirstWave Cloud Technology's Piotroski F-Score compare to MSFT and ORCL?
According to the Software industry distribution chart, FirstWave Cloud Technology ranks #583 out of 2743 companies for Piotroski F-Score. This places FirstWave Cloud Technology in the top 21% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. FirstWave Cloud Technology's value of 6 is 20% above this benchmark. Historically, FirstWave Cloud Technology's own Piotroski F-Score has ranged from 2.00 to 6.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, FirstWave Cloud Technology has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Software company?
The median Piotroski F-Score among Software companies is 5.00, based on 2,743 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. FirstWave Cloud Technology's current Piotroski F-Score of 6 is 20% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on FirstWave Cloud Technology and its competitors. For the Software industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. FirstWave Cloud Technology's current Piotroski F-Score is 6, which is 50% above median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is FirstWave Cloud Technology stock overvalued right now?
Based on GuruFocus' analysis, FirstWave Cloud Technology (ASX:FCT) is currently considered Modestly Undervalued. The stock's GF Value™ is A$0.01, compared to a current price of A$0.01 — trading 10% below its estimated fair value. The current Piotroski F-Score is 6, which is 50% above median its 10-year median of 4.00 and 20% above the Software industry median of 5.00. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For FirstWave Cloud Technology (ASX:FCT), the current Piotroski F-Score is 6 as of Jun. 27, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
FirstWave Cloud Technology Ltd is a technology company offering a comprehensive end-to-end solution for network discovery, management, and cybersecurity by developing and selling network monitoring and internet security software. Its product offerings include NMIS9 (Network Management Information System), Secure Traffic Manager Platform, CyberCision Platform, and Open-Audit (a network auditing discovery solution), among others. The company mainly caters to the needs of MSPs and service providers, government entities, and enterprises. It has only one reportable segment, being the development and sale of software. Geographically, the company generates maximum revenue from its business in Australia, followed by the USA and Canada, Latin America, and the Rest of the world.
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