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MGHL (Morgan Group Holding Co) Piotroski F-Score : 0 (As of Jul. 23, 2025)


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What is Morgan Group Holding Co 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

Morgan Group Holding Co 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 Morgan Group Holding Co's Piotroski F-Score or its related term are showing as below:


Morgan Group Holding Co Piotroski F-Score Historical Data

The historical data trend for Morgan Group Holding Co'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.

Morgan Group Holding Co Piotroski F-Score Chart

Morgan Group Holding Co Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.00 3.00 4.00 3.00 5.00

Morgan Group Holding Co Quarterly Data
Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23
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 6.00 5.00 5.00 2.00 2.00

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 (Sep23) TTM:Last Year (Sep22) TTM:
Net Income was -0.062 + -0.276 + -0.38 + -0.232 = $-0.95 Mil.
Cash Flow from Operations was -0.1 + 0.065 + -0.831 + -0.23 = $-1.10 Mil.
Revenue was 0.614 + 0.497 + 0.469 + 0.487 = $2.07 Mil.
Gross Profit was 0.16 + -0.01 + -0.039 + 0.005 = $0.12 Mil.
Average Total Assets from the begining of this year (Sep22)
to the end of this year (Sep23) was
(3.484 + 3.418 + 3.214 + 2.517 + 1.965) / 5 = $2.9196 Mil.
Total Assets at the begining of this year (Sep22) was $3.48 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Total Current Assets was $1.85 Mil.
Total Current Liabilities was $0.77 Mil.
Net Income was 0.06 + -0.347 + -0.351 + -0.189 = $-0.83 Mil.

Revenue was 1.238 + 0.509 + 0.475 + 0.413 = $2.64 Mil.
Gross Profit was 0.441 + -0.049 + -0.046 + 0.022 = $0.37 Mil.
Average Total Assets from the begining of last year (Sep21)
to the end of last year (Sep22) was
(3.991 + 4.324 + 3.875 + 3.529 + 3.484) / 5 = $3.8406 Mil.
Total Assets at the begining of last year (Sep21) was $3.99 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Total Current Assets was $3.30 Mil.
Total Current Liabilities was $1.34 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.

Morgan Group Holding Co's current Net Income (TTM) was -0.95. ==> 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.

Morgan Group Holding Co's current Cash Flow from Operations (TTM) was -1.10. ==> 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 (Sep22)
=-0.95/3.484
=-0.27267509

ROA (Last Year)=Net Income/Total Assets (Sep21)
=-0.827/3.991
=-0.20721624

Morgan Group Holding Co's return on assets of this year was -0.27267509. Morgan Group Holding Co's return on assets of last year was -0.20721624. ==> 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.

Morgan Group Holding Co's current Net Income (TTM) was -0.95. Morgan Group Holding Co's current Cash Flow from Operations (TTM) was -1.10. ==> -1.10 <= -0.95 ==> 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: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=0/2.9196
=0

Gearing (Last Year: Sep22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep21 to Sep22
=0/3.8406
=0

Morgan Group Holding Co's gearing of this year was 0. Morgan Group Holding Co's gearing of last year was 0. ==> 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: Sep23)=Total Current Assets/Total Current Liabilities
=1.851/0.766
=2.41644909

Current Ratio (Last Year: Sep22)=Total Current Assets/Total Current Liabilities
=3.295/1.335
=2.46816479

Morgan Group Holding Co's current ratio of this year was 2.41644909. Morgan Group Holding Co's current ratio of last year was 2.46816479. ==> 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.

Morgan Group Holding Co's number of shares in issue this year was 0.6. Morgan Group Holding Co's number of shares in issue last year was 0.6. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

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
=0.116/2.067
=0.05611998

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=0.368/2.635
=0.13965844

Morgan Group Holding Co's gross margin of this year was 0.05611998. Morgan Group Holding Co's gross margin of last year was 0.13965844. ==> 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 (Sep22)
=2.067/3.484
=0.59328358

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep21)
=2.635/3.991
=0.66023553

Morgan Group Holding Co's asset turnover of this year was 0.59328358. Morgan Group Holding Co's asset turnover of last year was 0.66023553. ==> 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+0+1+0+1+0+0
=2

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

Morgan Group Holding Co has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

Morgan Group Holding Co  (OTCPK:MGHL) 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.


Morgan Group Holding Co Piotroski F-Score Related Terms

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Morgan Group Holding Co Business Description

Traded in Other Exchanges
N/A
Address
401 Theodore Fremd Avenue, Rye, NY, USA, 10580
Morgan Group Holding Co through its wholly own subsidiary operates in institutional research and securities brokerage business. It provides underwriting and institutional research services. The firm derives revenue from institutional research services, underwriting fees and selling concessions. The company operates in one business segment which generates brokerage commission revenues from securities transactions executed on an agency basis on behalf of institutional clients and mutual funds, private wealth management clients, and retail customers of affiliated companies.
Executives
Claudia B Carucci 10 percent owner 17 EAGLE ISLAND PLACE, SHELDON SC 29941-3017
Uncle Mills Partners, Llc 10 percent owner 17 EAGLE ISLAND PLACE, SHELDON SC 29941-3017
Bernard Zimmerman 10 percent owner, other: See Remarks 18 HIGH MEADOW RD, WESTON CT 06883
Carucci Walter P /ny 10 percent owner, other: See Remarks C/O CARR SECURITIES CORP, 14 VANDERVENTER AVENUE, SUITE 210, PORT WASHINGTON NY 11050

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