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AvePoint (AvePoint) Piotroski F-Score : 7 (As of Apr. 26, 2024)


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What is AvePoint Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

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

AvePoint has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for AvePoint's Piotroski F-Score or its related term are showing as below:

AVPT' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 7

During the past 5 years, the highest Piotroski F-Score of AvePoint was 7. The lowest was 2. And the median was 5.


AvePoint Piotroski F-Score Historical Data

The historical data trend for AvePoint'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.

AvePoint Piotroski F-Score Chart

AvePoint Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
N/A N/A N/A 2.00 7.00

AvePoint Quarterly Data
Dec19 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 2.00 N/A N/A 4.00 7.00

Competitive Comparison of AvePoint's Piotroski F-Score

For the Software - Infrastructure subindustry, AvePoint'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.


AvePoint's Piotroski F-Score Distribution in the Software Industry

For the Software industry and Technology sector, AvePoint's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where AvePoint'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 (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was -9.197 + -12.585 + -4.212 + 4.269 = $-21.7 Mil.
Cash Flow from Operations was 1.25 + 8.006 + 4.028 + 21.41 = $34.7 Mil.
Revenue was 59.572 + 64.869 + 72.76 + 74.624 = $271.8 Mil.
Gross Profit was 41.682 + 45.073 + 52.604 + 55.006 = $194.4 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(415.533 + 401.511 + 398.57 + 398.211 + 442.582) / 5 = $411.2814 Mil.
Total Assets at the begining of this year (Dec22) was $415.5 Mil.
Long-Term Debt & Capital Lease Obligation was $9.4 Mil.
Total Current Assets was $325.6 Mil.
Total Current Liabilities was $176.7 Mil.
Net Income was -11.67 + -9.829 + -7.412 + -12.719 = $-41.6 Mil.

Revenue was 50.291 + 55.701 + 62.739 + 63.608 = $232.3 Mil.
Gross Profit was 35.515 + 40.089 + 45.641 + 44.818 = $166.1 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(388.738 + 391.468 + 387.921 + 394.841 + 415.533) / 5 = $395.7002 Mil.
Total Assets at the begining of last year (Dec21) was $388.7 Mil.
Long-Term Debt & Capital Lease Obligation was $11.3 Mil.
Total Current Assets was $306.3 Mil.
Total Current Liabilities was $142.7 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.

AvePoint's current Net Income (TTM) was -21.7. ==> 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.

Score 1 if positive, 0 if negative.

AvePoint's current Cash Flow from Operations (TTM) was 34.7. ==> 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.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec22)
=-21.725/415.533
=-0.05228225

ROA (Last Year)=Net Income/Total Assets (Dec21)
=-41.63/388.738
=-0.10709012

AvePoint's return on assets of this year was -0.05228225. AvePoint's return on assets of last year was -0.10709012. ==> This year is higher. ==> Score 1.

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.

AvePoint's current Net Income (TTM) was -21.7. AvePoint's current Cash Flow from Operations (TTM) was 34.7. ==> 34.7 > -21.7 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=9.383/411.2814
=0.02281406

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=11.348/395.7002
=0.02867828

AvePoint's gearing of this year was 0.02281406. AvePoint's gearing of last year was 0.02867828. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=325.584/176.665
=1.84294569

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=306.295/142.708
=2.14630574

AvePoint's current ratio of this year was 1.84294569. AvePoint's current ratio of last year was 2.14630574. ==> 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.

AvePoint's number of shares in issue this year was 181.138. AvePoint's number of shares in issue last year was 189.139. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=194.365/271.825
=0.71503725

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=166.063/232.339
=0.7147444

AvePoint's gross margin of this year was 0.71503725. AvePoint's gross margin of last year was 0.7147444. ==> 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 (Dec22)
=271.825/415.533
=0.65415984

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=232.339/388.738
=0.59767504

AvePoint's asset turnover of this year was 0.65415984. AvePoint's asset turnover of last year was 0.59767504. ==> 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+1+1+1+1+0+1+1+1
=7

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

AvePoint has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

AvePoint  (NAS:AVPT) 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.


AvePoint Piotroski F-Score Related Terms

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AvePoint (AvePoint) Business Description

Traded in Other Exchanges
N/A
Address
525 Washington Boulevard, Suite 1400, Jersey City, NJ, USA, 07310
AvePoint Inc is a Microsoft 365 data management solutions provider, offering a full suite of SaaS solutions to migrate, manage and protect data. Its products include Cloud Products, Hybrid Products; and solutions include Data Protection, Operational Governance, Records & Information Management, Microsoft Teams, SharePoint Online, Exchange Online, OneDrive for Business, Project Online, Planner, Yammer, and Public Folders.
Executives
Brian Michael Brown director, officer: COO and General Counsel C/O AVEPOINT, INC., 525 WASHINGTON BOULEVARD, SUITE 1400, JERSEY CITY NJ 07310
Sixth Street Partners Management Company, L.p. 10 percent owner C/O SIXTH STREET PARTNERS, LLC, 2100 MCKINNEY AVENUE, SUITE 1500, DALLAS TX 75201
Alan Waxman 10 percent owner C/O SIXTH STREET PARTNERS, LLC, 345 CALIFORNIA STREET, SUITE 2600, SAN FRANCISCO CA 94104
Janet Schijns director 901 E BYRD STREET, SUITE 900, LEGAL DEPARTMENT, RICHMOND VA 23219
Sophia Wu officer: Chief Financial Officer C/O AVEPOINT, INC., 525 WASHINGTON BOULEVARD, SUITE 1400, JERSEY CITY NJ 07310
Tianyi Jiang director, officer: Chief Executive Officer C/O AVEPOINT, INC., 525 WASHINGTON BOULEVARD, SUITE 1400, JERSEY CITY NJ 07310
Xunkai Gong director, 10 percent owner, other: Executive Chairman C/O AVEPOINT, INC., 525 WASHINGTON BOULEVARD, SUITE 1400, JERSEY CITY NJ 07310
James Caci officer: Chief Financial Officer C/O AVEPOINT, INC., 525 WASHINGTON BLVD., SUITE 1400, JERSEY CITY NJ 07310
Zhijian Lu 10 percent owner C/O AVEPOINT, INC., 525 WASHINGTON BLVD, SUITE 1400, JERSEY CITY NJ 07310
Ho John Chi On director C/O JANCHOR PARTNERS, ONE EXCHANGE SQUARE, CENTRAL K3 1608
Jeff Teper director C/O AVEPOINT, INC., 525 WASHINGTON BOULEVARD, SUITE 1400, JERSEY CITY NJ 07310
Andy Yong officer: Chief Investment Officer C/O AVEPOINT, INC., 525 WASHINGTON BOULEVARD, SUITE 1400, JERSEY CITY NJ 07310
Stephen Cuunjieng director 1155 KAS DRIVE SUITE 100, RICHARDSON TX 75081
David K Chao director 2420 SAND HILL ROAD, SUITE 200, MENLO PARK CA 94025
Peter W Bell director