Piotroski F-Score of 3 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
ICTS International NV has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for ICTS International NV's Piotroski F-Score or its related term are showing as below:
ICTSF'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 4 Max: 8
Current: 3
During the past 13 years, the highest Piotroski F-Score of ICTS International NV was 8. The lowest was 3. And the median was 4.
ICTS International NV Piotroski F-Score Historical Data
The historical data trend for ICTS International NV'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.
Competitive Comparison of ICTS International NV's Piotroski F-Score
For the Security & Protection Services subindustry, ICTS International NV'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.
ICTS International NV's Piotroski F-Score Distribution in the Business Services Industry
For the Business Services industry and Industrials sector, ICTS International NV's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where ICTS International NV'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.
*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.
ICTS International NV's current Net Income (TTM) was -4.7.
==> 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.
ICTS International NV's return on assets of this year was -0.02412191. ICTS International NV's return on assets of last year was 0.2479343.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
ICTS International NV's gearing of this year was 0.03931009. ICTS International NV's gearing of last year was 0.05644308.
==> 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
ICTS International NV's current ratio of this year was 2.27560519. ICTS International NV's current ratio of last year was 2.86745405.
==> 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.
ICTS International NV's number of shares in issue this year was 37.433. ICTS International NV's number of shares in issue last year was 40.237.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
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.
ICTS International NV's gross margin of this year was 0.19630928. ICTS International NV's gross margin of last year was 0.35441967.
==> 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
ICTS International NV's asset turnover of this year was 1.65906167. ICTS International NV's asset turnover of last year was 2.31454255.
==> 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
+
0
+
1
+
1
+
0
+
1
+
0
+
0
=
3
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
ICTS International NV has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
ICTS International NV (OTCPK:ICTSF) 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.
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.
ICTS International NV Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of ICTS International NV's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
ICTS International NV (ICTS International NV) Business Description
ICTS International NV provides aviation security and other aviation services. Business activity of the firm is operated through Corporate, Airport security and other aviation services, and Authentication Technology segments. The Airport security and other aviation segment provide security and other services to airlines and airport authorities, predominantly in Europe and the U.S. The Authentication technology segment is involved in the development and sale of authentication security software to financial and other institutions. The geographical presence of the company in Germany, United States, Netherlands, Spain and Other countries out of its majority of the revenue generated from Germany.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
ICTSF has been successfully added to your 