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THRY (Thryv Holdings) Piotroski F-Score : 5 (As of Jul. 08, 2025)


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What is Thryv Holdings Piotroski F-Score?

The zones of discrimination were as such:

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

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

THRY' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 9
Current: 5

During the past 12 years, the highest Piotroski F-Score of Thryv Holdings was 9. The lowest was 3. And the median was 5.


Thryv Holdings Piotroski F-Score Historical Data

The historical data trend for Thryv Holdings'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.

Thryv Holdings Piotroski F-Score Chart

Thryv Holdings Annual Data
Trend Dec13 Dec14 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 6.00 8.00 4.00 6.00

Thryv Holdings Quarterly Data
Jun20 Sep20 Dec20 Mar21 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 Premium Member Only Premium Member Only Premium Member Only 3.00 3.00 4.00 6.00 5.00

Competitive Comparison of Thryv Holdings's Piotroski F-Score

For the Internet Content & Information subindustry, Thryv Holdings'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.


Thryv Holdings's Piotroski F-Score Distribution in the Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Thryv Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Thryv Holdings'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 5.548 + -96.071 + 7.883 + -9.618 = $-92.3 Mil.
Cash Flow from Operations was 22.222 + 35.98 + 26.143 + -10.481 = $73.9 Mil.
Revenue was 224.084 + 179.852 + 186.596 + 181.371 = $771.9 Mil.
Gross Profit was 148.588 + 111.981 + 123.027 + 119.288 = $502.9 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(786.835 + 785.483 + 654.753 + 712.165 + 703.734) / 5 = $728.594 Mil.
Total Assets at the begining of this year (Mar24) was $786.8 Mil.
Long-Term Debt & Capital Lease Obligation was $272.7 Mil.
Total Current Assets was $202.7 Mil.
Total Current Liabilities was $189.4 Mil.
Net Income was 15.978 + -27.046 + -257.541 + 8.424 = $-260.2 Mil.

Revenue was 251.421 + 183.822 + 236.163 + 233.624 = $905.0 Mil.
Gross Profit was 160.085 + 103.644 + 159.71 + 153.641 = $577.1 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(1172.267 + 1101.227 + 1040.382 + 783.17 + 786.835) / 5 = $976.7762 Mil.
Total Assets at the begining of last year (Mar23) was $1,172.3 Mil.
Long-Term Debt & Capital Lease Obligation was $295.1 Mil.
Total Current Assets was $275.0 Mil.
Total Current Liabilities was $239.7 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.

Thryv Holdings's current Net Income (TTM) was -92.3. ==> 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.

Thryv Holdings's current Cash Flow from Operations (TTM) was 73.9. ==> Positive ==> Score 1.

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)
=-92.258/786.835
=-0.11725203

ROA (Last Year)=Net Income/Total Assets (Mar23)
=-260.185/1172.267
=-0.22195029

Thryv Holdings's return on assets of this year was -0.11725203. Thryv Holdings's return on assets of last year was -0.22195029. ==> 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.

Thryv Holdings's current Net Income (TTM) was -92.3. Thryv Holdings's current Cash Flow from Operations (TTM) was 73.9. ==> 73.9 > -92.3 ==> 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
=272.737/728.594
=0.3743333

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=295.068/976.7762
=0.30208353

Thryv Holdings's gearing of this year was 0.3743333. Thryv Holdings's gearing of last year was 0.30208353. ==> 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: Mar25)=Total Current Assets/Total Current Liabilities
=202.687/189.395
=1.07018137

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=275.017/239.699
=1.14734313

Thryv Holdings's current ratio of this year was 1.07018137. Thryv Holdings's current ratio of last year was 1.14734313. ==> 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.

Thryv Holdings's number of shares in issue this year was 43.412. Thryv Holdings's number of shares in issue last year was 37.986. ==> 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
=502.884/771.903
=0.651486

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=577.08/905.03
=0.63763632

Thryv Holdings's gross margin of this year was 0.651486. Thryv Holdings's gross margin of last year was 0.63763632. ==> 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 (Mar24)
=771.903/786.835
=0.9810227

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=905.03/1172.267
=0.77203402

Thryv Holdings's asset turnover of this year was 0.9810227. Thryv Holdings's asset turnover of last year was 0.77203402. ==> 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+1+1+1+0+0+0+1+1
=5

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

Thryv Holdings has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Thryv Holdings  (NAS:THRY) 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.


Thryv Holdings Piotroski F-Score Related Terms

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Thryv Holdings Business Description

Traded in Other Exchanges
N/A
Address
2200 West Airfield Drive, P.O. Box 619810, D/FW Airport, Dallas, TX, USA, 75261
Thryv Holdings Inc is dedicated to supporting local, independent service-based businesses and emerging franchises by providing a cloud-based software platform, and marketing solutions to entrepreneurs. Its company is built upon a rich legacy in the marketing and advertising industry. The group are provider of SaaS all-in-one small business management software in addition to providing print and digital marketing solutions to SMBs. Its solutions enable SMB clients to attract and generate new business leads, manage their customer relationships efficiently with artificial intelligence (AI) tools and automation, and run their day-to-day operations to save time, compete and win in today's SMB environment. The group has two business segments; Thryv SaaS and Thryv Marketing Services.
Executives
Joe Walsh director, officer: CEO and President C/O CAMBIUM LEARNING GROUP, INC., 17855 N. DALLAS PARKWAY SUITE 400, DALLAS TX 75287
Grant Freeman officer: President 2200 WEST AIRFIELD DRIVE PO BOX 619810, DFW AIRPORT TX 75261
John Slater director 2200 W. AIRFIELD DRIVE, P.O. BOX 619810, DFW AIRPORT TX 75261
Amer Akhtar director C/O THRYV HOLDINGS, INC., 2200 WEST AIRFIELD DRIVE P.O. BOX 619810, DALLAS TX 75261
James Mccusker officer: Chief Revenue Officer and EVP 2200 WEST AIRFIELD DR, DALLAS TX 75225
Ryan Ohara director 6922 HOLLYWOOD BLVD., 12TH FL, LOS ANGELES CA 90028
Mudrick Capital Management, L.p. 10 percent owner 527 MADISON AVENUE, 6TH FLOOR, NEW YORK NY 10022
Bonnie Kintzer director C/O THRYV HOLDINGS, INC., 2200 WEST AIRFIELD DRIVE P.O. BOX 619810, DALLAS TX 75261
Heather Zynczak director C/O THRYV HOLDINGS, INC., 2200 WEST AIRFIELD DRIVE P.O. BOX 619810, DALLAS TX 75261
Goldentree Asset Management Lp 10 percent owner 300 PARK AVENUE, 21ST FLOOR, NEW YORK NY 10022
Paulson & Co. Inc. 10 percent owner 1133 AVENUE OF THE AMERICAS, 33RD FLOOR, NEW YORK NY 10036
Jason Mudrick director, 10 percent owner C/O MUDRICK CAPITAL MANAGEMENT, L.P., 527 MADISON AVENUE, 6TH FLOOR, NEW YORK NY 10022
Goldentree Asset Management Llc 10 percent owner 300 PARK AVENUE, 21ST FLOOR, NEW YORK NY 10022
Lauren Vaccarello director 2200 WEST AIRFIELD DRIVE, P.O. BOX 619810, DALLAS TX 75261
Verto Direct Opportunity Ii, Lp 10 percent owner C/O MUDRICK CAPITAL MANAGEMENT, L.P., 527 MADISON AVENUE, 6TH FLOOR, NEW YORK NY 10022