XTIA (XTI Aerospace) Piotroski F-Score: 2 (As of Aug. 22, 2026) — 50% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

XTIA XTI Aerospace Inc XTIA
6 GF Score
Price $1.49
! 4 Warning Signs
View Full Analysis

What is XTI Aerospace Piotroski F-Score?

XTI Aerospace XTIA +7.22% 6 Piotroski F-Score is 2 as of Aug. 22, 2026, which is 50% below its 10-year median of 4.00. GuruFocus rates XTIA with a GF Score™ of 6/100. The stock has 4 warning signs investors should review. Among 325 Aerospace & Defense companies, XTI Aerospace ranks worse than 94.46% on this metric.

Warning Sign:

Piotroski F-Score of 2 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

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

XTIA' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 4   Max: 5
Current: 2

During the past 5 years, the highest Piotroski F-Score of XTI Aerospace was 5. The lowest was 2. And the median was 4.

XTI Aerospace  (NAS:XTIA) 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.


XTI Aerospace Piotroski F-Score Related Terms


XTI Aerospace Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for XTI Aerospace'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.

XTI Aerospace Piotroski F-Score Chart

XTI Aerospace Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
N/A N/A N/A 3.00 3.00

XTI Aerospace Quarterly Data
Dec21 Mar22 Jun22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 4.00 4.00 N/A 3.00 2.00

XTIA vs MOB, CVU, PEW: Piotroski F-Score Comparison

For the Aerospace & Defense subindustry, XTI Aerospace'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.


XTI Aerospace Piotroski F-Score vs Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, XTI Aerospace's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where XTI Aerospace's Piotroski F-Score falls into.


XTIA
6GF Score
XTI Aerospace Inc XTIA
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

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 (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was -20.858 + -13.446 + -21.585 + -35.27 = $-91.16 Mil.
Cash Flow from Operations was -6.741 + -8.373 + -6.255 + -10.454 = $-31.82 Mil.
Revenue was 0.6 + 2.484 + 18.922 + 27.696 = $49.70 Mil.
Gross Profit was 0.483 + 1.077 + 3.026 + 5.146 = $9.73 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(27.127 + 35.448 + 47.931 + 81.246 + 78.342) / 5 = $54.0188 Mil.
Total Assets at the begining of this year (Mar25) was $27.13 Mil.
Long-Term Debt & Capital Lease Obligation was $1.02 Mil.
Total Current Assets was $50.34 Mil.
Total Current Liabilities was $90.95 Mil.
Net Income was -14.71 + -4.435 + -13.856 + -12.872 = $-45.87 Mil.

Revenue was 1.031 + 0.918 + -2.169 + 0 = $-0.22 Mil.
Gross Profit was 0.662 + 0.52 + -1.323 + 0 = $-0.14 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(30.782 + 34.041 + 29.283 + 24.291 + 27.127) / 5 = $29.1048 Mil.
Total Assets at the begining of last year (Mar24) was $30.78 Mil.
Long-Term Debt & Capital Lease Obligation was $0.27 Mil.
Total Current Assets was $12.53 Mil.
Total Current Liabilities was $12.52 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.

XTI Aerospace's current Net Income (TTM) was -91.16. ==> 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.

XTI Aerospace's current Cash Flow from Operations (TTM) was -31.82. ==> 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 (Mar25)
=-91.159/27.127
=-3.36045269

ROA (Last Year)=Net Income/Total Assets (Mar24)
=-45.873/30.782
=-1.49025404

XTI Aerospace's return on assets of this year was -3.36045269. XTI Aerospace's return on assets of last year was -1.49025404. ==> 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.

XTI Aerospace's current Net Income (TTM) was -91.16. XTI Aerospace's current Cash Flow from Operations (TTM) was -31.82. ==> -31.82 > -91.16 ==> 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: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=1.02/54.0188
=0.01888232

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=0.271/29.1048
=0.00931118

XTI Aerospace's gearing of this year was 0.01888232. XTI Aerospace's gearing of last year was 0.00931118. ==> 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: Mar26)=Total Current Assets/Total Current Liabilities
=50.337/90.951
=0.55345186

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=12.527/12.515
=1.00095885

XTI Aerospace's current ratio of this year was 0.55345186. XTI Aerospace's current ratio of last year was 1.00095885. ==> 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.

XTI Aerospace's number of shares in issue this year was 35.284. XTI Aerospace's number of shares in issue last year was 3.385. ==> 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
=9.732/49.702
=0.19580701

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=-0.141/-0.22
=0.64090909

XTI Aerospace's gross margin of this year was 0.19580701. XTI Aerospace's gross margin of last year was 0.64090909. ==> 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 (Mar25)
=49.702/27.127
=1.8321967

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=-0.22/30.782
=-0.00714703

XTI Aerospace's asset turnover of this year was 1.8321967. XTI Aerospace's asset turnover of last year was -0.00714703. ==> 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+0+1+0+0+0+0+1
=2

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

XTI Aerospace has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 2 mean?
XTI Aerospace (XTIA) has a Piotroski F-Score of 2 as of Aug. 22, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on XTI Aerospace and its competitors. This is 50% below median its historical median of 4.00. Over the past decade, XTI Aerospace's Piotroski F-Score has ranged from 2.00 to 5.00. According to the industry distribution chart, XTI Aerospace ranks #307 out of 325 companies in the Aerospace & Defense industry, placing it in the top 94.5%.
Is XTI Aerospace's Piotroski F-Score too high?
XTI Aerospace's current Piotroski F-Score of 2 is 50% below median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 5.00. The Aerospace & Defense industry median Piotroski F-Score is 5.00. XTI Aerospace's value of 2 is 60% below this industry median. Based on the distribution chart, XTI Aerospace ranks #307 out of 325 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, XTI Aerospace has a GF Score™ of 6/100, reflecting its overall financial health beyond just this single metric.
How does XTI Aerospace's Piotroski F-Score compare to MOB and CVU?
According to the Aerospace & Defense industry distribution chart, XTI Aerospace ranks #307 out of 325 companies for Piotroski F-Score. This places XTI Aerospace in the lower half of its industry. The industry median Piotroski F-Score is 5.00. XTI Aerospace's value of 2 is 60% below this benchmark. Historically, XTI Aerospace's own Piotroski F-Score has ranged from 2.00 to 5.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, XTI Aerospace has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for an Aerospace & Defense company?
The median Piotroski F-Score among Aerospace & Defense companies is 5.00, based on 325 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. XTI Aerospace's current Piotroski F-Score of 2 is 60% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on XTI Aerospace and its competitors. For the Aerospace & Defense industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. XTI Aerospace's current Piotroski F-Score is 2, which is 50% below median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is XTI Aerospace stock overvalued right now?
XTI Aerospace (XTIA) has a current Piotroski F-Score of 2. The current Piotroski F-Score is 2, which is 50% below median its 10-year median of 4.00 and 60% below the Aerospace & Defense industry median of 5.00. XTI Aerospace's overall GF Score™ is 6/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For XTI Aerospace (XTIA), the current Piotroski F-Score is 2 as of Aug. 22, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

XTI Aerospace Business Description

Address 15505 Wright Brothers Drive, Addison, TX, USA, 75001
XTI Aerospace Inc is a U.S.-based aerospace company focused on building and scaling Unmanned Aircraft Systems (UAS) solutions platform serving enterprise, public safety, government, and defense customers, while maintaining long-term optionality in vertical lift aircraft development. The company manages its operations through two reportable segments: Unmanned Aircraft Systems (UAS) and Commercial Aviation. Maximum revenue is generated from the UAS segment, which provides an integrated suite of UAS solutions across hardware distribution, training, compliance management support, repair and maintenance, fleet sustainment, and related services. The Commercial Aviation segment consists of the development-stage VTOL aircraft program focused on the TriFan 600.
6GF Score

Get the complete analysis for XTIA

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$1.49
Price