Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Clearside Biomedical has an F-score of 5 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Clearside Biomedical's Piotroski F-Score or its related term are showing as below:
CLSD'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 4 Max: 6
Current: 5
During the past 11 years, the highest Piotroski F-Score of Clearside Biomedical was 6. The lowest was 2. And the median was 4.
Clearside Biomedical Piotroski F-Score Historical Data
The historical data trend for Clearside Biomedical'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.
Clearside Biomedical Annual Data
Trend
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
Dec23
Piotroski F-Score
3.00
4.00
5.00
2.00
5.00
Clearside Biomedical Quarterly Data
Mar19
Jun19
Sep19
Dec19
Mar20
Jun20
Sep20
Dec20
Mar21
Jun21
Sep21
Dec21
Mar22
Jun22
Sep22
Dec22
Mar23
Jun23
Sep23
Dec23
Piotroski F-Score
2.00
2.00
2.00
1.00
5.00
Competitive Comparison
For the Biotechnology subindustry, Clearside Biomedical'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.
Clearside Biomedical Piotroski F-Score Distribution
For the Biotechnology industry and Healthcare sector, Clearside Biomedical's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Clearside Biomedical'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.
Clearside Biomedical's current Net Income (TTM) was -32.49.
==> 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.
Clearside Biomedical's current Cash Flow from Operations (TTM) was -18.14.
==> 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.
Clearside Biomedical's return on assets of this year was -0.63319884. Clearside Biomedical's return on assets of last year was -0.76794164.
==> 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.
Clearside Biomedical's current Net Income (TTM) was -32.49. Clearside Biomedical's current Cash Flow from Operations (TTM) was -18.14.
==> -18.14 > -32.49 ==> 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.
Clearside Biomedical's gearing of this year was 0.01593647. Clearside Biomedical's gearing of last year was 0.02159708.
==> 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
Clearside Biomedical's current ratio of this year was 4.42140026. Clearside Biomedical's current ratio of last year was 8.54245201.
==> 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.
Clearside Biomedical's number of shares in issue this year was 62.411. Clearside Biomedical's number of shares in issue last year was 60.415.
==> 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.
Clearside Biomedical's gross margin of this year was 0.95684415. Clearside Biomedical's gross margin of last year was 0.84626978.
==> 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
Clearside Biomedical's asset turnover of this year was 0.1603415. Clearside Biomedical's asset turnover of last year was 0.03093024.
==> 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
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Que. 9
=
0
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0
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1
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1
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1
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0
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1
=
5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Clearside Biomedical has an F-score of 5 indicating the company's financial situation is typical for a stable company.
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.
Clearside Biomedical Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Clearside Biomedical's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Clearside Biomedical (Clearside Biomedical) Business Description
Clearside Biomedical Inc is a United States-based clinical biopharmaceutical company. It is engaged in developing pharmacological therapies to treat blinding disease of the eye through the suprachoroidal space, or SCS. The company's novel SCS injection platform, utilizing proprietary SCS Microinjector, enables an in-office, repeatable, non-surgical procedure for the targeted and compartmentalized delivery of a wide variety of therapies to the macula, retina or choroid to potentially preserve and improve vision in patients with sight-threatening eye diseases.
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