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ON24 Piotroski F-Score

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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

ON24 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 ON24's Piotroski F-Score or its related term are showing as below:

During the past 4 years, the highest Piotroski F-Score of ON24 was 9999. The lowest was 5. And the median was 5.


ON24 Piotroski F-Score Historical Data

The historical data trend for ON24'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.

ON24 Annual Data
Trend Dec18 Dec19 Dec20 Dec21
Piotroski F-Score
N/A N/A N/A 5.00

ON24 Quarterly Data
Dec18 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only N/A N/A 5.00 5.00 N/A

Competitive Comparison

For the Software - Application subindustry, ON24'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.

   

ON24 Piotroski F-Score Distribution

For the Software industry and Technology sector, ON24's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where ON24'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 (Mar22) TTM:Last Year (Mar21) TTM:
Net Income was -2.517 + -9.4 + -9.509 + -15.479 = $-36.9 Mil.
Cash Flow from Operations was 6.871 + -0.894 + -4.492 + -6.77 = $-5.3 Mil.
Revenue was 52.118 + 49.362 + 52.034 + 48.492 = $202.0 Mil.
Gross Profit was 40.245 + 37.295 + 39.303 + 35.548 = $152.4 Mil.
Average Total Assets from the begining of this year (Mar21)
to the end of this year (Mar22) was
(487.748 + 488.561 + 487.91 + 480.489 + 462.128) / 5 = $481.3672 Mil.
Total Assets at the begining of this year (Mar21) was $487.7 Mil.
Long-Term Debt & Capital Lease Obligation was $8.1 Mil.
Total Current Assets was $427.2 Mil.
Total Current Liabilities was $120.1 Mil.
Net Income was 6.702 + 6.605 + 9.505 + -2.83 = $20.0 Mil.

Revenue was 36.32 + 42.589 + 53.286 + 50.099 = $182.3 Mil.
Gross Profit was 28.358 + 33.969 + 43.239 + 39.405 = $145.0 Mil.
Average Total Assets from the begining of last year (Mar20)
to the end of last year (Mar21) was
(0 + 0 + 134.21 + 156.718 + 487.748) / 5 = $259.55866667 Mil.
Total Assets at the begining of last year (Mar20) was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $3.6 Mil.
Total Current Assets was $457.4 Mil.
Total Current Liabilities was $120.4 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.

ON24's current Net Income (TTM) was -36.9. ==> 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.

ON24's current Cash Flow from Operations (TTM) was -5.3. ==> 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 (Mar21)
=-36.905/487.748
=-0.07566407

ROA (Last Year)=Net Income/Total Assets (Mar20)
=19.982/0
=

ON24's return on assets of this year was -0.07566407. ON24's return on assets of last year was . ==> 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.

ON24's current Net Income (TTM) was -36.9. ON24's current Cash Flow from Operations (TTM) was -5.3. ==> -5.3 > -36.9 ==> 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: Mar22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar21 to Mar22
=8.121/481.3672
=0.0168707

Gearing (Last Year: Mar21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar20 to Mar21
=3.641/259.55866667
=0.01402766

ON24's gearing of this year was 0.0168707. ON24's gearing of last year was 0.01402766. ==> 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: Mar22)=Total Current Assets/Total Current Liabilities
=427.209/120.082
=3.55764394

Current Ratio (Last Year: Mar21)=Total Current Assets/Total Current Liabilities
=457.437/120.428
=3.79842728

ON24's current ratio of this year was 3.55764394. ON24's current ratio of last year was 3.79842728. ==> 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.

ON24's number of shares in issue this year was 47.632. ON24's number of shares in issue last year was 0. ==> 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
=152.391/202.006
=0.75438848

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=144.971/182.294
=0.79525931

ON24's gross margin of this year was 0.75438848. ON24's gross margin of last year was 0.79525931. ==> 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 (Mar21)
=202.006/487.748
=0.41416059

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar20)
=182.294/0
=

ON24's asset turnover of this year was 0.41416059. ON24's asset turnover of last year was . ==> 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+1+0+0+0+0+1
=3

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

ON24 has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

ON24  (NYSE:ONTF) 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.


ON24 Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of ON24's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


ON24 Business Description

ON24 logo
Traded in Other Exchanges
N/A
Address
50 Beale Street, 8th Floor, San Francisco, CA, USA, 94105
ON24 Inc provides a cloud-based digital experience platform that enables businesses to convert customer engagement into revenue through interactive webinar experiences, virtual event experiences, and multimedia content experiences. The company derives revenue from subscription agreements with customers for accessing the platform and related services. Geographically, it derives a majority of revenue from the United States.
Executives
Arora Anil director C/O YODLEE, INC., 3600 BRIDGE PARKWAY 2ND FLOOR REDWOOD CITY CA 94065
Zingale Anthony director C/O SERVICEMAX, INC. 4450 ROSEWOOD DR., #200 PLEASANTON CA 94588
Presidio Management Group Vii L L C 10 percent owner 2735 SAND HILL ROAD MENLO PARK CA 94025
Federman Irwin director, 10 percent owner 2735 SAND HILL ROAD MENLO PARK CA 94025
Tansey Casey M 10 percent owner 2735 SAND HILL ROAD MENLO PARK CA 94025
Usvp Entrepreneur Partners Vii B L P 10 percent owner 2735 SAND HILL ROAD MENLO PARK CA 94025
Usvp Entrepreneur Partners Vii A L P 10 percent owner 2735 SAND HILL ROAD MENLO PARK CA 94025
2180 Associates Fund Vii L P 10 percent owner 2735 SAND HILL ROAD MENLO PARK CA 94025
Us Venture Partners Vii L P 10 percent owner 2735 SAND HILL ROAD MENLO PARK CA 94025
Goldman Sachs Group Inc 10 percent owner 200 WEST STREET NEW YORK NY 10282
Gssg Holdings Llc 10 percent owner 200 WEST STREET NEW YORK NY 10282
Special Situations Investing Group Ii, Llc 10 percent owner 200 WEST STREET NEW YORK NY 10282
Goldman Sachs & Co. Llc 10 percent owner 200 WEST STREET NEW YORK NY 10282
Rho Ventures Iii Holdings Llc 10 percent owner 152 W. 57TH STREET 23RD FLOOR NEW YORK NY 10019
Canaan Equity Aggregator Llc 10 percent owner 1624 MARKET STREET, SUITE 226 PMB 29471 DENVER CO 80202

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