C3.ai, Inc.
AI Technology Software Infrastructure
C3.ai, Inc.’s revenue for fiscal 2026 (year ended April 2026) was $250.3 million, down 35.7% from fiscal 2025. In the quarter to July 2026, revenue fell 25.5%, EPS grew 30.2% and free cash flow grew 106.0%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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C3.ai, Inc. (AI) Piotroski F-score
C3.ai, Inc.'s Piotroski F-score for fiscal 2026 is 2 out of 9: 2 of nine tests of profitability, leverage and efficiency passed, down from 4 in fiscal 2025.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2026 | 2 | (2.00) |
| FY2025 | 4 | 0.00 |
| FY2024 | 4 | 1.00 |
| FY2023 | 3 | 1.00 |
| FY2022 | 2 | — |
How fiscal 2026’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (51.07%) | (27.97%) | Fail | 0 |
| Positive operating cash flow | (190.23m) | (41.41m) | Fail | 0 |
| Rising return on assets | (51.07%) | (27.97%) | Fail | 0 |
| Cash flow above net income | 280.14m | 247.30m | Pass | 1 |
| Falling long-term leverage | 0.00 | 0.00 | Pass | 1 |
| Rising current ratio | 6.64 | 6.86 | Fail | 0 |
| No new shares issued | 140,513,000 | 129,089,000 | Fail | 0 |
| Rising gross margin | 30.92% | 60.62% | Fail | 0 |
| Rising asset turnover | 0.27 | 0.38 | Fail | 0 |
| Piotroski F-score | Weak — most fundamentals deteriorated | 2 | ||
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 |
|---|---|
| EVTC Evertec, Inc. compare | 7 |
| RAMP LiveRamp Holdings, Inc. compare | 7 |
| MQ Marqeta, Inc. compare | 6 |
| ATEN A10 Networks, Inc. compare | 5 |
| GCT GigaCloud Technology Inc. compare | 4 |
| FORG ForgeRock, Inc. compare | 4 |
| NN NextNav Inc. compare | 3 |
| AI C3.ai, Inc. | 2 |
| INFQ Infleqtion, Inc. 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