Adagene Inc. Sponsored ADR
ADAG Healthcare Biotechnology
Adagene Inc. Sponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $7.7 million, up 7,333.0% from fiscal 2024. Insiders bought in the last twelve months.
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Adagene Inc. Sponsored ADR (ADAG) Piotroski F-score
Adagene Inc. Sponsored ADR's Piotroski F-score for fiscal 2025 is 4 out of 9: 4 of nine tests of profitability, leverage and efficiency passed, up from 2 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 4 | 2.00 |
| FY2024 | 2 | (1.00) |
| FY2023 | 3 | 1.00 |
| FY2022 | 2 | (2.00) |
| FY2021 | 4 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (21.02%) | (32.61%) | Fail | 0 |
| Positive operating cash flow | (15.66m) | (29.70m) | Fail | 0 |
| Rising return on assets | (21.02%) | (32.61%) | Pass | 1 |
| Cash flow above net income | 1.95m | 3.72m | Pass | 1 |
| Falling long-term leverage | 0.01 | 0.00 | Fail | 0 |
| Rising current ratio | 3.07 | 2.30 | Pass | 1 |
| No new shares issued | 47,204,800 | 45,030,400 | Fail | 0 |
| Rising gross margin | 100.00% | 100.00% | Fail | 0 |
| Rising asset turnover | 0.09 | 0.00 | 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 |
|---|---|
| CHRS Coherus Oncology, Inc. compare | 6 |
| MDWD MediWound Ltd. compare | 5 |
| WHWK Whitehawk Therapeutics, Inc. compare | 4 |
| ADAG Adagene Inc. Sponsored ADR | 4 |
| DTIL Precision BioSciences, Inc. compare | 1 |
| IPHA Innate Pharma S.A. Sponsored ADR compare | 0 |
| CMPX Compass Therapeutics, Inc. compare | — |
| VRXA Veraxa Biotech AG compare | — |
| NBP NovaBridge Biosciences 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