African Agriculture Holdings Inc.
AAGR Consumer Defensive Farm Products
African Agriculture Holdings Inc.’s revenue for fiscal 2023 (year ended December 2023) was $1.8 million, up 167.6% from fiscal 2022. Revenue growth for three consecutive years.
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African Agriculture Holdings Inc. (AAGR) Piotroski F-score
African Agriculture Holdings Inc.'s Piotroski F-score for fiscal 2023 cannot be worked out: needs three fiscal years.
Piotroski F-score, annual
Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|
How fiscal 2023’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (294.32%) | — | Fail | 0 |
| Positive operating cash flow | (3.97m) | (2.70m) | Fail | 0 |
| Rising return on assets | (294.32%) | — | n/a | — |
| Cash flow above net income | 39.09m | 23.55m | Pass | 1 |
| Falling long-term leverage | 0.01 | — | n/a | — |
| Rising current ratio | 0.16 | 0.15 | Pass | 1 |
| No new shares issued | 35,721,000 | 31,979,000 | Fail | 0 |
| Rising gross margin | 25.23% | (15.49%) | Pass | 1 |
| Rising asset turnover | 0.12 | — | n/a | — |
| Piotroski F-score | n/a — needs three fiscal years | — | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| PME Pingtan Marine Enterprise Ltd. compare | 6 |
| AQB AquaBounty Technologies, Inc. compare | 5 |
| LOCL Local Bounti Corporation compare | 5 |
| DTCKF Davis Commodities Limited compare | 5 |
| SISI SHINECO compare | 3 |
| EDBL Edible Garden AG Incorporated compare | 2 |
| SDOT Sadot Group Inc. compare | 2 |
| AGRZ Agroz Inc. compare | — |
| AAGR African Agriculture Holdings Inc. | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover