GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Diagnostics & Research » DermTech Inc (NAS:DMTK) » Definitions » Piotroski F-Score

DermTech (DermTech) Piotroski F-Score

: 2 (As of Today)
View and export this data going back to 2017. Start your Free Trial

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

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

DMTK' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 2   Max: 4
Current: 2

During the past 8 years, the highest Piotroski F-Score of DermTech was 4. The lowest was 2. And the median was 2.


DermTech Piotroski F-Score Historical Data

The historical data trend for DermTech'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.

DermTech Annual Data
Trend Mar16 Mar17 Mar18 Mar19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only 2.00 3.00 4.00 2.00 2.00

DermTech 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 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 Premium Member Only Premium Member Only Premium Member Only 2.00 2.00 2.00 2.00 2.00

Competitive Comparison

For the Diagnostics & Research subindustry, DermTech'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.


DermTech Piotroski F-Score Distribution

For the Medical Diagnostics & Research industry and Healthcare sector, DermTech's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where DermTech'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 -31.27 + -31.363 + -19.164 + -19.091 = $-100.89 Mil.
Cash Flow from Operations was -22.028 + -23.201 + -19.043 + -12.707 = $-76.98 Mil.
Revenue was 3.477 + 3.98 + 3.915 + 3.924 = $15.30 Mil.
Gross Profit was -0.344 + 0.008 + 0.172 + 0.44 = $0.28 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(202.075 + 177.121 + 157.074 + 137.896 + 121.93) / 5 = $159.2192 Mil.
Total Assets at the begining of this year (Dec22) was $202.08 Mil.
Long-Term Debt & Capital Lease Obligation was $51.31 Mil.
Total Current Assets was $61.75 Mil.
Total Current Liabilities was $13.45 Mil.
Net Income was -30.108 + -29.58 + -28.772 + -28.223 = $-116.68 Mil.

Revenue was 3.718 + 4.233 + 3.573 + 2.994 = $14.52 Mil.
Gross Profit was 0.164 + 0.96 + -0.121 + -0.356 = $0.65 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(248.309 + 239.522 + 216.112 + 194.063 + 202.075) / 5 = $220.0162 Mil.
Total Assets at the begining of last year (Dec21) was $248.31 Mil.
Long-Term Debt & Capital Lease Obligation was $54.08 Mil.
Total Current Assets was $136.04 Mil.
Total Current Liabilities was $15.64 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.

DermTech's current Net Income (TTM) was -100.89. ==> 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.

DermTech's current Cash Flow from Operations (TTM) was -76.98. ==> 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 (Dec22)
=-100.888/202.075
=-0.49926018

ROA (Last Year)=Net Income/Total Assets (Dec21)
=-116.683/248.309
=-0.46991047

DermTech's return on assets of this year was -0.49926018. DermTech's return on assets of last year was -0.46991047. ==> 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.

DermTech's current Net Income (TTM) was -100.89. DermTech's current Cash Flow from Operations (TTM) was -76.98. ==> -76.98 > -100.89 ==> 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
=51.308/159.2192
=0.32224757

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=54.081/220.0162
=0.24580463

DermTech's gearing of this year was 0.32224757. DermTech's gearing of last year was 0.24580463. ==> Last year is lower than this year ==> Score 0.

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
=61.752/13.447
=4.59225106

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=136.037/15.636
=8.70024303

DermTech's current ratio of this year was 4.59225106. DermTech's current ratio of last year was 8.70024303. ==> 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.

DermTech's number of shares in issue this year was 34.345. DermTech's number of shares in issue last year was 30.248. ==> 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
=0.276/15.296
=0.01804393

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=0.647/14.518
=0.04456537

DermTech's gross margin of this year was 0.01804393. DermTech's gross margin of last year was 0.04456537. ==> 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 (Dec22)
=15.296/202.075
=0.07569467

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=14.518/248.309
=0.05846747

DermTech's asset turnover of this year was 0.07569467. DermTech's asset turnover of last year was 0.05846747. ==> 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+1+0+0+0+0+1
=2

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

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

DermTech  (NAS:DMTK) 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.


DermTech Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of DermTech's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


DermTech (DermTech) Business Description

Traded in Other Exchanges
N/A
Address
11099 N. Torrey Pines Road, Suite 100, La Jolla, CA, USA, 92037
DermTech Inc is an emerging growth molecular diagnostic company. The company is engaged in marketing and developing novel non-invasive genomic tests to aid in the diagnosis of various skin conditions, including skin cancer, inflammatory diseases, and aging-related conditions. While the company generates revenue through laboratory services.
Executives
Kevin M Sun officer: Chief Financial Officer 6340 SEQUENCE DRIVE, SAN DIEGO CA 92121
Claudia Ibarra officer: Chief Operating Officer C/O DERMTECH, INC., 11099 N. TORREY PINES ROAD, SUITE 100, LA JOLLA CA 92037
Ramin Akhavan officer: General Counsel C/O DERMTECH, INC., 11099 N. TORREY PINES ROAD, SUITE 100, LA JOLLA CA 92037
Mark Bryan Aguillard officer: Chief Commercial Officer 19800 CORDILL LANE, SPICEWOOD TX 78669
Todd Michael Wood officer: Chief Commercial Officer C/O OBALON THERAPEUTICS, INC., 5421 AVENIDA ENCINAS, SUITE F, SAN DIEGO CA 92008
Bret Christensen director, officer: Chief Executive Officer 600 TECHNOLOGY PARK DRIVE, SUITE 200, BILLERICA MA 01821
John Dobak director, officer: Chief Executive Officer 11099 N. TORREY PINES ROAD, SUITE 100, LA JOLLA CA 92037
Rtw Investments, Lp 10 percent owner 40 10TH AVENUE, 7TH FLOOR, NEW YORK NY 10014
Kirk Malloy director 5200 ILLUMINA WAY, SAN DIEGO CA 92122
Mark Christopher Capone director 320 WAKARA WAY, SALT LAKE CITY UT 84108
Herm Rosenman director OXFORD IMMUNOTEC GLOBAL PLC, 94C INNOVATION DRIVE, HILTON PARK, SAN DIEGO X0 OX14 4RZ
Nathalie Gerschtein Keraudy director C/O DERMTECH, INC., 11099 N. TORREY PINES ROAD, SUITE 100, LA JOLLA CA 92037
Monica Tellado director C/O DERMTECH, INC., 11099 N. TORREY PINES ROAD, SUITE 100, LA JOLLA CA 92037
Enrico Picozza director 11099 N. TORREY PINES ROAD, SUITE 100, LA JOLLA CA 92037
Matthew L. Posard director 11099 N. TORREY PINES ROAD, SUITE 100, LA JOLLA CA 92037

DermTech (DermTech) Headlines

From GuruFocus