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MSPR (MSP Recovery) Piotroski F-Score : 3 (As of Jun. 27, 2025)


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What is MSP Recovery Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 3 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

MSP Recovery has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

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

MSPR' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 2   Max: 3
Current: 3

During the past 5 years, the highest Piotroski F-Score of MSP Recovery was 3. The lowest was 1. And the median was 2.


MSP Recovery Piotroski F-Score Historical Data

The historical data trend for MSP Recovery'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.

MSP Recovery Piotroski F-Score Chart

MSP Recovery Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
N/A N/A N/A 3.00 2.00

MSP Recovery Quarterly Data
Dec20 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
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 Premium Member Only Premium Member Only N/A 1.00 2.00 2.00 3.00

Competitive Comparison of MSP Recovery's Piotroski F-Score

For the Health Information Services subindustry, MSP Recovery'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.


MSP Recovery's Piotroski F-Score Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, MSP Recovery's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where MSP Recovery's Piotroski F-Score falls into.


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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 (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was -25.136 + -29.847 + -286.634 + -121.601 = $-463.22 Mil.
Cash Flow from Operations was -9.019 + -6.687 + 1.73 + -7.192 = $-21.17 Mil.
Revenue was 0.337 + 3.668 + 8.243 + 0.837 = $13.09 Mil.
Gross Profit was 0.228 + 1.997 + 2.089 + 0.03 = $4.34 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(3036.316 + 2909.274 + 2787.852 + 1919.083 + 1797.675) / 5 = $2490.04 Mil.
Total Assets at the begining of this year (Mar24) was $3,036.32 Mil.
Long-Term Debt & Capital Lease Obligation was $371.95 Mil.
Total Current Assets was $12.68 Mil.
Total Current Liabilities was $521.83 Mil.
Net Income was -8.22 + -19.755 + -23.457 + -18.882 = $-70.31 Mil.

Revenue was 2.542 + 0.44 + 0.728 + 6.001 = $9.71 Mil.
Gross Profit was 2.165 + -0.134 + 0.555 + 4.328 = $6.91 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(3549.8 + 3410.562 + 3282.035 + 3159.995 + 3036.316) / 5 = $3287.7416 Mil.
Total Assets at the begining of last year (Mar23) was $3,549.80 Mil.
Long-Term Debt & Capital Lease Obligation was $705.55 Mil.
Total Current Assets was $19.23 Mil.
Total Current Liabilities was $82.77 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.

MSP Recovery's current Net Income (TTM) was -463.22. ==> 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.

MSP Recovery's current Cash Flow from Operations (TTM) was -21.17. ==> 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 (Mar24)
=-463.218/3036.316
=-0.15255922

ROA (Last Year)=Net Income/Total Assets (Mar23)
=-70.314/3549.8
=-0.01980788

MSP Recovery's return on assets of this year was -0.15255922. MSP Recovery's return on assets of last year was -0.01980788. ==> 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.

MSP Recovery's current Net Income (TTM) was -463.22. MSP Recovery's current Cash Flow from Operations (TTM) was -21.17. ==> -21.17 > -463.22 ==> 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: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=371.949/2490.04
=0.14937471

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=705.553/3287.7416
=0.21460111

MSP Recovery's gearing of this year was 0.14937471. MSP Recovery's gearing of last year was 0.21460111. ==> 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: Mar25)=Total Current Assets/Total Current Liabilities
=12.679/521.825
=0.02429742

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=19.233/82.767
=0.23237522

MSP Recovery's current ratio of this year was 0.02429742. MSP Recovery's current ratio of last year was 0.23237522. ==> 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.

MSP Recovery's number of shares in issue this year was 3.608. MSP Recovery's number of shares in issue last year was 0.601. ==> 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
=4.344/13.085
=0.33198319

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=6.914/9.711
=0.71197611

MSP Recovery's gross margin of this year was 0.33198319. MSP Recovery's gross margin of last year was 0.71197611. ==> 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 (Mar24)
=13.085/3036.316
=0.0043095

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=9.711/3549.8
=0.00273565

MSP Recovery's asset turnover of this year was 0.0043095. MSP Recovery's asset turnover of last year was 0.00273565. ==> 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+1+0+0+0+1
=3

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

MSP Recovery has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

MSP Recovery  (NAS:MSPR) 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.


MSP Recovery Piotroski F-Score Related Terms

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MSP Recovery Business Description

Traded in Other Exchanges
N/A
Address
3150 SW 38th Avenue, Suite 1100, Miami, FL, USA, 33146
MSP Recovery Inc is a healthcare recovery and data analytics company. The business model includes two principal lines of business: Claims Recovery and Chase to Pay Services. It offers an antiquated healthcare reimbursement system with data-driven solutions to secure recoveries against responsible parties. MSP Recovery provides the healthcare industry with comprehensive compliance solutions platform to recover any claims where the law places primary payment responsibility on another payer.
Executives
John Hasan Ruiz director, 10 percent owner, officer: Chief Executive Officer C/O MSP RECOVERY, 2701 S LE JEUNE ROAD, 10TH FLOOR, CORAL GABLES FL 33134-5809
Cano Health, Inc. 10 percent owner 9725 NW 117TH AVENUE, SUITE 200, MIAMI FL 33178
Frank Carlos Quesada director, 10 percent owner, officer: See Remarks C/O MSP RECOVERY, 2701 S LE JEUNE ROAD, 10TH FLOOR, CORAL GABLES FL 33134-5809
Ricardo Rivera officer: See Remarks C/O MSP RECOVERY, 2701 S LE JEUNE ROAD, 10TH FLOOR, CORAL GABLES FL 33134-5809
Nomura Securities International Inc 10 percent owner WORLDWIDE PLAZA, 309 WEST 49TH STREET, NEW YORK NY 10019
Calvin Hamstra officer: Chief Financial Officer 2701 S LE JEUNE ROAD, 10TH FLOOR, CORAL GABLES FL 33134-5809
Alexandra Marie Plasencia officer: General Counsel C/O MSP RECOVERY, 2701 S LE JEUNE ROAD, 10TH FLOOR, CORAL GABLES FL 33134-5809
Thomas W Hawkins director GERALD STEVENS INC, PO BOX 350526, FORT LAUDERDALE FL 33335-0526
Ophir Sternberg director, 10 percent owner C/O OPES ACQUISITION CORP., JAVIER BARROS SIERRA 540, OF. 103, MEXICO CITY O5 01210
Michael Frederick Arrigo director 2701 S LE JEUNE ROAD, 10TH FLOOR, CORAL GABLES FL 33134-5809
Nomura Holdings Inc 10 percent owner 1-13-1 NIHONBASHI, CHUO-KU, TOKYO M0 103-8645
Oliver Spv Holdings Llc 10 percent owner 822 OLIVER ST., WOODMERE NY 11598
Boris Hirmas 10 percent owner 4128 NE 2ND AVENUE, MIAMI FL 33137
Jls Equities Llc 10 percent owner 58 LARCH HILL ROAD, LAWRENCE NY 11559
Jessica Wasserstrom 10 percent owner 4128 NE 2ND AVENUE, MIAMI FL 33137