Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Melinta Therapeutics 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 Melinta Therapeutics's Piotroski F-Score or its related term are showing as below:
Melinta Therapeutics Piotroski F-Score Historical Data
The historical data trend for Melinta Therapeutics'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.
Melinta Therapeutics Annual Data
Trend
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Piotroski F-Score
3.00
4.00
2.00
3.00
1.00
Melinta Therapeutics Quarterly Data
Dec14
Mar15
Jun15
Sep15
Dec15
Mar16
Jun16
Sep16
Dec16
Mar17
Jun17
Sep17
Dec17
Mar18
Jun18
Sep18
Dec18
Mar19
Jun19
Sep19
Piotroski F-Score
1.00
1.00
3.00
5.00
3.00
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.
*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.
Melinta Therapeutics's current Net Income (TTM) was -320.21.
==> 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.
Melinta Therapeutics's current Cash Flow from Operations (TTM) was -90.65.
==> 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.
Melinta Therapeutics's return on assets of this year was -0.66392841. Melinta Therapeutics's return on assets of last year was -0.73299978.
==> 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.
Melinta Therapeutics's current Net Income (TTM) was -320.21. Melinta Therapeutics's current Cash Flow from Operations (TTM) was -90.65.
==> -90.65 > -320.21 ==> 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.
Melinta Therapeutics's gearing of this year was 0.37817637. Melinta Therapeutics's gearing of last year was 0.30510944.
==> 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
Melinta Therapeutics's current ratio of this year was 1.02514702. Melinta Therapeutics's current ratio of last year was 1.3348806.
==> 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.
Melinta Therapeutics's number of shares in issue this year was 13.615. Melinta Therapeutics's number of shares in issue last year was 11.203.
==> 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.
Melinta Therapeutics's gross margin of this year was 0.59205386. Melinta Therapeutics's gross margin of last year was 0.5079482.
==> 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
Melinta Therapeutics's asset turnover of this year was 0.16876977. Melinta Therapeutics's asset turnover of last year was 0.36230821.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Que. 1
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Que. 2
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0
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1
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3
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Melinta Therapeutics has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
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.
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.
Melinta Therapeutics Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Melinta Therapeutics's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Melinta Therapeutics Inc is a clinical-stage biotechnology company that develops differentiated antibiotics for acute care and community settings. The company's goal is to develop treatments for bacterial infectious diseases, particularly respiratory tract infections and staphylococcal infections. The company is particularly focused on treating community-acquired bacterial pneumonia, as well as gonorrhea and other indications.
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