C&F Financial Corporation
CFFI Financial Banks Regional
C&F Financial Corporation’s revenue for fiscal 2025 (year ended December 2025) was $186.1 million, up 9.40% from fiscal 2024. In the quarter to June 2026, revenue grew 10.3%, EPS grew 11.0%, free cash flow grew 549.9% and total debt rose 14.2%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for three.
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C&F Financial Corporation (CFFI) Piotroski F-score
C&F Financial Corporation's Piotroski F-score for fiscal 2025 is 8 out of 9: 8 of nine tests of profitability, leverage and efficiency passed, up from 6 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 8 | 2.00 |
| FY2024 | 6 | (1.00) |
| FY2023 | 7 | 2.00 |
| FY2022 | 5 | (2.00) |
| FY2021 | 7 | 3.00 |
| FY2020 | 4 | (1.00) |
| FY2019 | 5 | (1.00) |
| FY2018 | 6 | 2.00 |
| FY2017 | 4 | (4.00) |
| FY2016 | 8 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 1.01% | 0.79% | Pass | 1 |
| Positive operating cash flow | 24.49m | 36.77m | Pass | 1 |
| Rising return on assets | 1.01% | 0.79% | Pass | 1 |
| Cash flow above net income | (2.34m) | 16.93m | Fail | 0 |
| Falling long-term leverage | 0.04 | 0.04 | Pass | 1 |
| Rising current ratio | 0.91 | 0.90 | Pass | 1 |
| No new shares issued | 3,238,000 | 3,300,000 | Pass | 1 |
| Rising gross margin | 75.67% | 74.83% | Pass | 1 |
| Rising asset turnover | 0.07 | 0.07 | Pass | 1 |
| Piotroski F-score | Strong — most fundamentals improved | 8 | ||
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 |
|---|---|
| CFFI C&F Financial Corporation | 8 |
| BCML Bay Commercial Bank compare | 8 |
| JMSB John Marshall Bancorp, Inc. compare | 8 |
| FDBC Fidelity D&D Bancorp Inc. compare | 8 |
| BRBS Blue Ridge Bankshares, Inc. compare | 6 |
| FSBW FS Bancorp, Inc. compare | 6 |
| CBNA Chain Bridge Bancorp, Inc. compare | 3 |
| AVBH Avidbank Holdings Inc. compare | — |
| COSO CoastalSouth Bancshares, 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