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FHTX (Foghorn Therapeutics) Piotroski F-Score : 2 (As of Mar. 03, 2025)


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What is Foghorn Therapeutics 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

Foghorn Therapeutics 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 Foghorn Therapeutics's Piotroski F-Score or its related term are showing as below:

FHTX' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 3   Max: 6
Current: 2

During the past 6 years, the highest Piotroski F-Score of Foghorn Therapeutics was 6. The lowest was 1. And the median was 3.


Foghorn Therapeutics Piotroski F-Score Historical Data

The historical data trend for Foghorn Therapeutics'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.

Foghorn Therapeutics Piotroski F-Score Chart

Foghorn Therapeutics Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial N/A N/A 3.00 5.00 1.00

Foghorn Therapeutics 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 2.00 1.00 1.00 2.00 2.00

Competitive Comparison of Foghorn Therapeutics's Piotroski F-Score

For the Biotechnology subindustry, Foghorn Therapeutics'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.


Foghorn Therapeutics's Piotroski F-Score Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Foghorn Therapeutics's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Foghorn Therapeutics'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 -24.106 + -25.016 + -22.979 + -19.122 = $-91.22 Mil.
Cash Flow from Operations was -27.541 + -29.345 + -25.537 + -21.005 = $-103.43 Mil.
Revenue was 5.769 + 5.05 + 6.888 + 7.808 = $25.52 Mil.
Gross Profit was 5.769 + 5.05 + 6.888 + 7.808 = $25.52 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(313.423 + 285.916 + 255.004 + 328.585 + 308.372) / 5 = $298.26 Mil.
Total Assets at the begining of this year (Sep23) was $313.42 Mil.
Long-Term Debt & Capital Lease Obligation was $30.30 Mil.
Total Current Assets was $271.23 Mil.
Total Current Liabilities was $56.82 Mil.
Net Income was -28.886 + -30.488 + -29.487 + -14.345 = $-103.21 Mil.

Revenue was 4.184 + 5.309 + 5.599 + 17.478 = $32.57 Mil.
Gross Profit was 4.184 + 5.309 + 5.599 + 17.478 = $32.57 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(433.932 + 404.883 + 372.883 + 339.576 + 313.423) / 5 = $372.9394 Mil.
Total Assets at the begining of last year (Sep22) was $433.93 Mil.
Long-Term Debt & Capital Lease Obligation was $38.71 Mil.
Total Current Assets was $265.44 Mil.
Total Current Liabilities was $52.01 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.

Foghorn Therapeutics's current Net Income (TTM) was -91.22. ==> 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.

Foghorn Therapeutics's current Cash Flow from Operations (TTM) was -103.43. ==> 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)
=-91.223/313.423
=-0.29105394

ROA (Last Year)=Net Income/Total Assets (Sep22)
=-103.206/433.932
=-0.23783911

Foghorn Therapeutics's return on assets of this year was -0.29105394. Foghorn Therapeutics's return on assets of last year was -0.23783911. ==> 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.

Foghorn Therapeutics's current Net Income (TTM) was -91.22. Foghorn Therapeutics's current Cash Flow from Operations (TTM) was -103.43. ==> -103.43 <= -91.22 ==> 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: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=30.3/298.26
=0.10158922

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=38.71/372.9394
=0.10379702

Foghorn Therapeutics's gearing of this year was 0.10158922. Foghorn Therapeutics's gearing of last year was 0.10379702. ==> 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: Sep24)=Total Current Assets/Total Current Liabilities
=271.234/56.824
=4.77322962

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=265.442/52.012
=5.10347612

Foghorn Therapeutics's current ratio of this year was 4.77322962. Foghorn Therapeutics's current ratio of last year was 5.10347612. ==> 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.

Foghorn Therapeutics's number of shares in issue this year was 62.603. Foghorn Therapeutics's number of shares in issue last year was 42.026. ==> 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
=25.515/25.515
=1

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=32.57/32.57
=1

Foghorn Therapeutics's gross margin of this year was 1. Foghorn Therapeutics'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 (Sep23)
=25.515/313.423
=0.08140755

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=32.57/433.932
=0.07505784

Foghorn Therapeutics's asset turnover of this year was 0.08140755. Foghorn Therapeutics's asset turnover of last year was 0.07505784. ==> 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+1+0+0+0+1
=2

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

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

Foghorn Therapeutics  (NAS:FHTX) 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.


Foghorn Therapeutics Piotroski F-Score Related Terms

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Foghorn Therapeutics Business Description

Traded in Other Exchanges
N/A
Address
500 Technology Square, Suite 700, Cambridge, MA, USA, 02139
Foghorn Therapeutics Inc is engaged in the discovery and development of a new class of medicines targeting genetically determined dependencies within the chromatin regulatory system. Its proprietary Gene Traffic Control platform gives an integrated, mechanistic understanding of how the various components of the chromatin regulatory system interact, allowing it to identify, validate, and potentially drug targets within the system. The company is developing FHD-286, a selective, allosteric ATPase inhibitor, and FHD-609, a protein degrader, to treat hematologic cancers and solid tumors.
Executives
Carlos Costa officer: Chief People Officer C/O FOGHORN THERAPEUTICS INC., 500 TECHNOLOGY SQUARE, SUITE 700, CAMBRIDGE MA 02139
Steven F. Bellon officer: See Remarks 500 TECHNOLOGY SQUARE, SUITE 700, CAMBRIDGE MA 02139
Fanny Cavalie officer: Chief Strategy/Bus Ops Officer C/O FOGHORN THERAPEUTICS INC., 500 TECHNOLOGY SQUARE, SUITE 700, CAMBRIDGE MA 02139
Alfonso Quintas Cardama officer: Chief Medical Officer C/O TCR2 THERAPEUTICS INC., 100 BINNEY STREET, CAMBRIDGE MA 02142
Samuel Agresta officer: Chief Medical Officer 784 MEMORIAL DR., CAMBRIDGE MA 02139
Lynch Thomas J. Jr. director 800 HOWARD AVENUE, YALE PHYSICIANS BUILDING, 2ND FLOOR, NEW HAVEN CT 06519
B Lynne Parshall director 2855 GAZELLE COURT, CARLSBAD CA 92010
Ian F Smith director C/O ACORDA THERAPEUTICS, INC., 420 SAW MILL RIVER ROAD, ARDSLEY NY 10502
Michael Lacascia officer: Chief Legal Officer 500 TECHNOLOGY SQUARE, SUITE 700, CAMBRIDGE MA 02139
Carl Decicco officer: Chief Scientific Officer 100 BINNEY STREET, SUITE 610, CAMBRIDGE MA 02142
Flagship Ventures Opportunities Fund I General Partner Llc 10 percent owner 55 CAMBRIDGE PARKWAY, SUITE 800E, CAMBRIDGE MA 02142
Abu Dhabi Investment Authority 10 percent owner 211 CORNICHE STREET, PO BOX 3600, ABU DHABI C0 0000
Platinum International Investment Holding Rsc Ltd 10 percent owner 26TH FLOOR, AL KHATEM TOWER, ADGM SQUARE, PO BOX 25642, AL MARYAH ISLAND, ABU DHABI C0 NA
Adam Koppel director C/O BROOKSIDE CAPITAL, LLC, JOHN HANCOCK TOWER, 200 CLARENDON ST, BOSTON MA 02116
Jose Baselga director 780 MEMORIAL DRIVE, CAMBRIDGE MA 02139