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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
Addvantage Technologies Group 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 Addvantage Technologies Group's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Addvantage Technologies Group was 8. The lowest was 1. And the median was 4.
The historical data trend for Addvantage Technologies Group'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.
Addvantage Technologies Group Annual Data | |||||||||||||||||||||
Trend | Sep13 | Sep14 | Sep15 | Sep16 | Sep17 | Sep18 | Sep19 | Sep20 | Sep21 | Dec22 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 6.00 | 4.00 | 2.00 | 4.00 | 8.00 |
Addvantage Technologies Group Quarterly Data | ||||||||||||||||||||
Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | |
Piotroski F-Score | Get a 7-Day Free Trial | 7.00 | 8.00 | 5.00 | 2.00 | 2.00 |
For the Electronics & Computer Distribution subindustry, Addvantage Technologies Group'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.
For the Hardware industry and Technology sector, Addvantage Technologies Group's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Addvantage Technologies Group'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 (Sep23) TTM: | Last Year (Sep22) TTM: |
Net Income was -0.493 + -2.748 + -2.834 + -2.727 = $-8.80 Mil. Cash Flow from Operations was -2.97 + 0.533 + -2.671 + -0.862 = $-5.97 Mil. Revenue was 19.554 + 14.72 + 12.088 + 10.341 = $56.70 Mil. Gross Profit was 5.341 + 3.417 + 3.272 + 2.839 = $14.87 Mil. Average Total Assets from the begining of this year (Sep22) to the end of this year (Sep23) was (27.95 + 27.218 + 24.009 + 20.973 + 18.535) / 5 = $23.737 Mil. Total Assets at the begining of this year (Sep22) was $27.95 Mil. Long-Term Debt & Capital Lease Obligation was $0.94 Mil. Total Current Assets was $14.28 Mil. Total Current Liabilities was $12.81 Mil. |
Net Income was -2.029 + -1.394 + 0.875 + 1.483 = $-1.07 Mil. Revenue was 18.69 + 23.759 + 27.789 + 25.926 = $96.16 Mil. Gross Profit was 4.631 + 5.758 + 8.147 + 8.543 = $27.08 Mil. Average Total Assets from the begining of last year (Sep21) to the end of last year (Sep22) was (27.312 + 25.426 + 23.872 + 26.866 + 27.95) / 5 = $26.2852 Mil. Total Assets at the begining of last year (Sep21) was $27.31 Mil. Long-Term Debt & Capital Lease Obligation was $2.02 Mil. Total Current Assets was $22.00 Mil. Total Current Liabilities was $13.46 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.
Addvantage Technologies Group's current Net Income (TTM) was -8.80.
==> 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.
Addvantage Technologies Group's current Cash Flow from Operations (TTM) was -5.97.
==> 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 (Sep22) |
= | -8.802 | / | 27.95 | |
= | -0.3149195 |
ROA (Last Year) | = | Net Income | / | Total Assets (Sep21) |
= | -1.065 | / | 27.312 | |
= | -0.03899385 |
Addvantage Technologies Group's return on assets of this year was -0.3149195. Addvantage Technologies Group's return on assets of last year was -0.03899385.
==> 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.
Addvantage Technologies Group's current Net Income (TTM) was -8.80. Addvantage Technologies Group's current Cash Flow from Operations (TTM) was -5.97.
==> -5.97 > -8.80 ==> 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: Sep23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Sep22 to Sep23 |
= | 0.939 | / | 23.737 | |
= | 0.0395585 |
Gearing (Last Year: Sep22) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Sep21 to Sep22 |
= | 2.022 | / | 26.2852 | |
= | 0.07692542 |
Addvantage Technologies Group's gearing of this year was 0.0395585. Addvantage Technologies Group's gearing of last year was 0.07692542.
==> 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: Sep23) | = | Total Current Assets | / | Total Current Liabilities |
= | 14.28 | / | 12.809 | |
= | 1.11484113 |
Current Ratio (Last Year: Sep22) | = | Total Current Assets | / | Total Current Liabilities |
= | 22.002 | / | 13.458 | |
= | 1.63486402 |
Addvantage Technologies Group's current ratio of this year was 1.11484113. Addvantage Technologies Group's current ratio of last year was 1.63486402.
==> 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.
Addvantage Technologies Group's number of shares in issue this year was 1.426. Addvantage Technologies Group's number of shares in issue last year was 1.364.
==> 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 |
= | 14.869 | / | 56.703 | |
= | 0.26222598 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 27.079 | / | 96.164 | |
= | 0.28159186 |
Addvantage Technologies Group's gross margin of this year was 0.26222598. Addvantage Technologies Group's gross margin of last year was 0.28159186.
==> 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 (Sep22) |
= | 56.703 | / | 27.95 | |
= | 2.02872987 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Sep21) |
= | 96.164 | / | 27.312 | |
= | 3.52094318 |
Addvantage Technologies Group's asset turnover of this year was 2.02872987. Addvantage Technologies Group's asset turnover of last year was 3.52094318.
==> 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 | + | 0 | + | 0 | + | 0 | |
= | 2 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Addvantage Technologies Group has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
Addvantage Technologies Group (OTCPK:AEYGQ) 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.
Thank you for viewing the detailed overview of Addvantage Technologies Group's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Timothy Scott Harden | director | 5729 LEBANON ROAD, SUITE 144411, FRISCO TX 75034 |
Jim Mcgill | director | 2121 SOUTH YORKTOWN #1103, TULSA OK 74114 |
Brian Neal Davidson | officer: Chief Revenue Officer | 1430 BRADLEY LANE, SUITE 196, CARROLLTON TX 75007 |
Jerry Don Jones | officer: President, Fulton Technologies | 1045 BRICE ST, MERIDIAN TX 76665 |
Michael A Rutledge | officer: Chief Financial Officer | 5000 LEGACY DR, SUITE 350, PLANO TX 75024 |
Michael G Ramke | officer: INTERIM CFO | |
Kenneth A Chymiak | director, 10 percent owner, officer: President and CEO | 808 N 16TH ST, BROKEN ARROW OK 74012 |
Susan C Chymiak | 10 percent owner | C/O ADDVANTAGE TECHNOLOGIES GROUP INC, 1605 E IOLA, BROKEN ARROW OK 74012 |
Jarrod M Watson | officer: Chief Financial Officer | 5604 TEMPLIN WAY, PLANO TX 75093 |
Jimmy R Taylor | officer: President, Wireless Services | 22905 CIELO VISTA, SAN ANTONIO TX 78255 |
Reginald Jaramillo | officer: President, Telco Segment | 1801 GOLIAD WAY, LANTANA TX 76226 |
John Shelnutt | director | 605 ISLEWORTH LANE, MCKINNEY TX 75072 |
Donald Jr Kinison | officer: Vice President of Sales | 1010 TWIN OAKS, PROSPER TX 75078 |
Scott A Francis | director, officer: VP and CFO | 1221 E. HOUSTON ST., BROKEN ARROW OK 74012 |
Empey Colby | officer: President, Wireless Services | 908 BLUFFVIEW DRIVE, ALLEN TX 75002 |
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