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OncoCyte Piotroski F-Score

: 4 (As of Today)
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The zones of discrimination were as such:

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

OncoCyte has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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

NAS:OCX' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 4   Max: 5
Current: 4

1
5

During the past 8 years, the highest Piotroski F-Score of OncoCyte was 5. The lowest was 1. And the median was 4.


OncoCyte Piotroski F-Score Historical Data

The historical data trend for OncoCyte'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.

OncoCyte Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only 2.00 1.00 2.00 2.00 5.00

OncoCyte Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
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 4.00 4.00 5.00 5.00 4.00

Competitive Comparison

For the Biotechnology subindustry, OncoCyte'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.

   

OncoCyte Piotroski F-Score Distribution

For the Biotechnology industry and Healthcare sector, OncoCyte's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where OncoCyte'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 (Jun21) TTM:Last Year (Jun20) TTM:
Net Income was -6.783 + -6.309 + -3.919 + -10.493 = $-27.50 Mil.
Cash Flow from Operations was -5.999 + -6.15 + -9.845 + -8.081 = $-30.08 Mil.
Revenue was 0.555 + 0.503 + 1.124 + 2.03 = $4.21 Mil.
Gross Profit was -0.046 + -0.213 + 0.079 + -0.394 = $-0.57 Mil.
Average Total Assets from the begining of this year (Jun20)
to the end of this year (Jun21) was
(63.455 + 57.776 + 55.419 + 129.305 + 177.382) / 5 = $96.6674 Mil.
Total Assets at the begining of this year (Jun20) was $63.46 Mil.
Long-Term Debt & Capital Lease Obligation was $4.44 Mil.
Total Current Assets was $50.00 Mil.
Total Current Liabilities was $19.78 Mil.
Net Income was -5.225 + -7.954 + -7.732 + -9.108 = $-30.02 Mil.

Revenue was 0 + 0 + 0.016 + 0.143 = $0.16 Mil.
Gross Profit was 0 + 0 + -0.157 + -0.222 = $-0.38 Mil.
Average Total Assets from the begining of last year (Jun19)
to the end of last year (Jun20) was
(37.666 + 32.77 + 39.859 + 59.503 + 63.455) / 5 = $46.6506 Mil.
Total Assets at the begining of last year (Jun19) was $37.67 Mil.
Long-Term Debt & Capital Lease Obligation was $5.73 Mil.
Total Current Assets was $18.45 Mil.
Total Current Liabilities was $6.84 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.

OncoCyte's current Net Income (TTM) was -27.50. ==> 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.

OncoCyte's current Cash Flow from Operations (TTM) was -30.08. ==> 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 (Jun20)
=-27.504/63.455
=-0.43344102

ROA (Last Year)=Net Income/Total Assets (Jun19)
=-30.019/37.666
=-0.79697871

OncoCyte's return on assets of this year was -0.43344102. OncoCyte's return on assets of last year was -0.79697871. ==> 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.

OncoCyte's current Net Income (TTM) was -27.50. OncoCyte's current Cash Flow from Operations (TTM) was -30.08. ==> -30.08 <= -27.50 ==> CFROA <= ROA ==> Score 0.

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: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=4.436/96.6674
=0.04588931

Gearing (Last Year: Jun20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun19 to Jun20
=5.732/46.6506
=0.12287087

OncoCyte's gearing of this year was 0.04588931. OncoCyte's gearing of last year was 0.12287087. ==> 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: Jun21)=Total Current Assets/Total Current Liabilities
=49.995/19.775
=2.52819216

Current Ratio (Last Year: Jun20)=Total Current Assets/Total Current Liabilities
=18.445/6.842
=2.69584917

OncoCyte's current ratio of this year was 2.52819216. OncoCyte's current ratio of last year was 2.69584917. ==> 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.

OncoCyte's number of shares in issue this year was 89.758. OncoCyte's number of shares in issue last year was 65.833. ==> 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
=-0.574/4.212
=-0.1362773

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=-0.379/0.159
=-2.3836478

OncoCyte's gross margin of this year was -0.1362773. OncoCyte's gross margin of last year was -2.3836478. ==> 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 (Jun20)
=4.212/63.455
=0.06637775

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun19)
=0.159/37.666
=0.00422131

OncoCyte's asset turnover of this year was 0.06637775. OncoCyte's asset turnover of last year was 0.00422131. ==> 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+1+0+1+0+0+1+1
=4

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

OncoCyte has an F-score of 4 indicating the company's financial situation is typical for a stable company.

OncoCyte  (NAS:OCX) 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.


OncoCyte Piotroski F-Score Related Terms

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


OncoCyte Business Description

OncoCyte logo
Industry
Healthcare » Biotechnology NAICS : 325412 SIC : 2834
Traded in Other Exchanges
Address
15 Cushing, Irvine, CA, USA, 92618
OncoCyte Corp focuses on the discovery, development, and commercialization of novel, non-invasive, liquid biopsy diagnostics for the early detection of cancer. It develops diagnostic tests based on liquid biopsies using blood or urine samples for detecting lung, bladder, and breast cancers. In addition, the company also developing screening diagnostics as potential replacements for screening imaging procedures that do not meet the needs of patients, health care providers or payers. Geographically operation of the group is carried through United States and it earns revenue from the sale of diagnostic tests.
Executives
Carter Jennifer L. director C/O DFP SPONSOR LLC 780 THIRD AVENUE, 37TH FLOOR NEW YORK NY 10017
Kalajian Tony T officer: Sr.VP/Chief Accounting Officer 1010 ATLANTIC AVENUE SUITE 102 ALAMEDA CA 94501
Parker Albert P officer: Chief Operating Officer C/O ONCOCYTE CORPORATION 1010 ATLANTIC AVENUE, SUITE 102 ALAMEDA CA 94501
Levine Mitchell S officer: Chief Financial Officer ONE FERRY BUILDING, SUITE 255 SAN FRANCISCO CA 94111
Andrews Ronald Asbury director, officer: Chief Executive Officer 5791 VAN ALLEN WAY CARLSBAD CA 92008
Redmond Cavan M. director 5 GIRALDA FARMS MADISON NJ 07940
Griffith Melinda director 1010 ATLANTIC AVENUE SUITE 102 ALAMEDA CA 94501
Arno Andrew director C/O MERRIMAN CURHAN FORD GROUP, INC. 600 CALIFORNIA STREET, 9TH FLOOR SAN FRANCISCO CA 94108
Kingsley Alfred D director 150 E 57TH STREET NEW YORK NY 10022
Last Andrew J. director 3420 CENTRAL EXPRESSWAY SANTA CLARA CA 95051
Broadwood Capital Inc 10 percent owner 724 FIFTH AVENUE 9TH FLOOR NEW YORK NY 10019
Broadwood Partners, L.p. 10 percent owner BROADWOOD CAPITAL INC. 724 FIFTH AVENUE, 9TH FLOOR NEW YORK NY 10019
Bradsher Neal C 10 percent owner PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: BRADSHER NEAL C a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Ross Douglas T. officer: Chief Medical Officer 15 CUSHING IRVINE CA 92618
Sundar Padma officer: SVP, Marketing & Market Access 1010 ATLANTIC AVENUE SUITE 102 ALAMEDA CA 94501

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