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Guardant Health Piotroski F-Score

: 2 (As of Today)
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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

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

NAS:GH' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 4   Max: 5
Current: 2

2
5

During the past 5 years, the highest Piotroski F-Score of Guardant Health was 5. The lowest was 2. And the median was 4.


Guardant Health Piotroski F-Score Historical Data

The historical data trend for Guardant Health'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.

Guardant Health Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20
Piotroski F-Score
N/A N/A N/A 4.00 3.00

Guardant Health Quarterly Data
Dec16 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
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 4.00 3.00 2.00 2.00 2.00

Competitive Comparison

For the Diagnostics & Research subindustry, Guardant Health'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.

   

Guardant Health Piotroski F-Score Distribution

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

* The bar in red indicates where Guardant Health'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 (Sep21) TTM:Last Year (Sep20) TTM:
Net Income was -93.745 + -109.658 + -97.575 + -107.526 = $-408.5 Mil.
Cash Flow from Operations was -59.223 + -16.291 + -62.593 + -53.145 = $-191.3 Mil.
Revenue was 78.316 + 78.665 + 92.101 + 94.779 = $343.9 Mil.
Gross Profit was 49.909 + 49.918 + 62.174 + 63.963 = $226.0 Mil.
Average Total Assets from the begining of this year (Sep20)
to the end of this year (Sep21) was
(1262.109 + 2271.781 + 2346.741 + 2291.885 + 2225.534) / 5 = $2079.61 Mil.
Total Assets at the begining of this year (Sep20) was $1,262.1 Mil.
Long-Term Debt & Capital Lease Obligation was $1,351.0 Mil.
Total Current Assets was $1,593.4 Mil.
Total Current Liabilities was $102.3 Mil.
Net Income was -25.21 + -27.729 + -54.639 + -77.67 = $-185.2 Mil.

Revenue was 62.897 + 67.51 + 66.335 + 74.569 = $271.3 Mil.
Gross Profit was 41.059 + 47.004 + 43.9 + 53.382 = $185.3 Mil.
Average Total Assets from the begining of last year (Sep19)
to the end of last year (Sep20) was
(948.334 + 962.535 + 948.167 + 1277.536 + 1262.109) / 5 = $1079.7362 Mil.
Total Assets at the begining of last year (Sep19) was $948.3 Mil.
Long-Term Debt & Capital Lease Obligation was $39.7 Mil.
Total Current Assets was $1,087.3 Mil.
Total Current Liabilities was $72.0 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.

Guardant Health's current Net Income (TTM) was -408.5. ==> 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.

Guardant Health's current Cash Flow from Operations (TTM) was -191.3. ==> 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 (Sep20)
=-408.504/1262.109
=-0.32366777

ROA (Last Year)=Net Income/Total Assets (Sep19)
=-185.248/948.334
=-0.19534046

Guardant Health's return on assets of this year was -0.32366777. Guardant Health's return on assets of last year was -0.19534046. ==> 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.

Guardant Health's current Net Income (TTM) was -408.5. Guardant Health's current Cash Flow from Operations (TTM) was -191.3. ==> -191.3 > -408.5 ==> 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: Sep21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep20 to Sep21
=1350.986/2079.61
=0.64963431

Gearing (Last Year: Sep20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep19 to Sep20
=39.682/1079.7362
=0.03675157

Guardant Health's gearing of this year was 0.64963431. Guardant Health's gearing of last year was 0.03675157. ==> 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: Sep21)=Total Current Assets/Total Current Liabilities
=1593.412/102.304
=15.57526587

Current Ratio (Last Year: Sep20)=Total Current Assets/Total Current Liabilities
=1087.288/71.967
=15.10814679

Guardant Health's current ratio of this year was 15.57526587. Guardant Health's current ratio of last year was 15.10814679. ==> This year's current ratio is higher. ==> Score 1.

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.

Guardant Health's number of shares in issue this year was 101.42. Guardant Health's number of shares in issue last year was 99.554. ==> 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
=225.964/343.861
=0.65713762

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=185.345/271.311
=0.68314591

Guardant Health's gross margin of this year was 0.65713762. Guardant Health's gross margin of last year was 0.68314591. ==> 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 (Sep20)
=343.861/1262.109
=0.27244953

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep19)
=271.311/948.334
=0.28609224

Guardant Health's asset turnover of this year was 0.27244953. Guardant Health's asset turnover of last year was 0.28609224. ==> 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+0+1+0+0+0
=2

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

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

Guardant Health  (NAS:GH) 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.


Guardant Health Piotroski F-Score Related Terms

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


Guardant Health Business Description

Guardant Health logo
Industry
Traded in Other Exchanges
Address
505 Penobscot Drive, Redwood City, CA, USA, 94063
Guardant Health, based in Redwood City, California, provides cancer blood tests and analytics for clinical and research use, and the firm maintains research partnerships with large biopharmaceutical companies. The company offers Guardant 360, a blood-based (liquid biopsy) test for treatment selection in advanced stage cancer, and Guardant Omni, a broader gene panel for immuno-oncology research. The company's pipeline includes Guardant Reveal (formerly Lunar-1), for cancer recurrence detection in survivors, and Lunar-2, a liquid biopsy for early detection of cancer in higher-risk individuals, with an initial focus on colorectal cancer. Additionally, Guardant offers research development services. The United States accounts for 90% of total revenue, and other markets the remaining 10%.
Executives
Talasaz Amirali director, officer: Chairman, President and COO 18 ISABELLA AVENUE ATHERTON CA 94027
Kaul Samir director C/O KHOSLA VENTURES 3000 SAND HILL ROAD, BLDG. 3, SUITE 170 MENLO PARK CA 94025
Meresman Stanley J director 2071 HUNTINGTON LANE LOS ALTOS CA 94024
Svf Bluebird (cayman) Ltd 10 percent owner C/O WALKERS CORPORATE LIMITED 27 HOSPITAL ROAD GEORGE TOWN E9 KY1-9008
Svf Enterprise (cayman) Ltd 10 percent owner C/O WALKERS CORPORATE LIMITED 27 HOSPITAL ROAD GEORGE TOWN E9 KY1-9008
Sb Investment Advisers (uk) Ltd 10 percent owner 69 GROSVENOR STREET LONDON X0 W1K 3JP
Softbank Vision Fund (aiv M1) L.p. 10 percent owner 251 LITTLE FALLS DRIVE WILMINGTON DE 19808
Svf Endurance (cayman) Ltd 10 percent owner C/O WALKERS CORPORATE LIMITED 27 HOSPITAL ROAD GEORGE TOWN E9 KY1-9008
Clark Ian T director SOLAZYME, INC. 225 GATEWAY BLVD. SOUTH SAN FRANCISCO CA 94080
Eltoukhy Helmy director, officer: Chief Executive Officer 2 BARRY LANE ATHERTON CA 94027
Bertocci Derek A officer: Chief Financial Officer 3070 ORCHARD DRIVE SAN JOSE CA 95134
Saia John G. officer: See Remarks C/O ACELRX PHARMACEUTICALS, INC. 351 GALVESTON DRIVE REDWOOD CITY CA 94063
Gadde Vijaya director C/O TWITTER INC 1355 MARKET STREET SUITE 900 SAN FRANCISCO CA 94103
Jallal Bahija director 120 MONUMENT CIRCLE INDIANAPOLIS IN 46204
Nishar Dipchand director C/O LINKEDIN CORPORATION 2029 STIERLIN COURT MOUNTAIN VIEW CA 94043

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