Abits Group Inc.
ABTS Financial Capital Markets
In the quarter to September 2025, revenue grew 730.2% and free cash flow fell 226.5%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
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Abits Group Inc. (ABTS) Piotroski F-score
Abits Group Inc.'s Piotroski F-score for fiscal 2025 is 4 out of 9: 4 of nine tests of profitability, leverage and efficiency passed, down from 7 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 4 | (3.00) |
| FY2024 | 7 | 1.00 |
| FY2023 | 6 | 1.00 |
| FY2020 | 5 | (1.00) |
| FY2019 | 6 | 2.00 |
| FY2018 | 4 | (1.00) |
| FY2017 | 5 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (25.75%) | (7.68%) | Fail | 0 |
| Positive operating cash flow | 1.41m | 1.92m | Pass | 1 |
| Rising return on assets | (25.75%) | (7.68%) | Fail | 0 |
| Cash flow above net income | 4.28m | 2.83m | Pass | 1 |
| Falling long-term leverage | 0.03 | 0.00 | Fail | 0 |
| Rising current ratio | 0.33 | 1.69 | Fail | 0 |
| No new shares issued | 2,370,000 | 2,370,000 | Pass | 1 |
| Rising gross margin | 40.27% | 50.30% | Fail | 0 |
| Rising asset turnover | 0.82 | 0.57 | Pass | 1 |
| Piotroski F-score | Mixed | 4 | ||
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 |
|---|---|
| BTMCQ Bitcoin Depot Inc. compare | 6 |
| DPU Nexpu Ltd. compare | 4 |
| ABTS Abits Group Inc. | 4 |
| JRJC China Finance Online Co. Limited compare | 4 |
| IPST IP Strategy Holdings, Inc. compare | 4 |
| EQOS EQONEX Limited compare | 3 |
| PWCM PowerCompute, Inc. compare | 2 |
| SOS SOS Limited Unsponsored ADR compare | 2 |
| PMAX Powell Max Limited compare | — |
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