ZW Data Action Technologies Inc.
CNET Communication Services Advertising Agencies
ZW Data Action Technologies Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.6 million, down 70.1% from fiscal 2024. In the quarter to June 2026, revenue grew 19.0%, EPS grew 63.0%, free cash flow fell 116.4% and total debt rose 4.92%, each against the same quarter a year earlier.
Follow CNET
ZW Data Action Technologies Inc. (CNET) Piotroski F-score
ZW Data Action Technologies Inc.'s Piotroski F-score for fiscal 2025 is 3 out of 9: 3 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2024.
Piotroski F-score, annual
Embed this chart
Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 3 | 0.00 |
| FY2024 | 3 | 1.00 |
| FY2023 | 2 | 0.00 |
| FY2022 | 2 | (1.00) |
| FY2021 | 3 | 0.00 |
| FY2020 | 3 | (1.00) |
| FY2019 | 4 | 1.00 |
| FY2018 | 3 | 1.00 |
| FY2017 | 2 | (1.00) |
| FY2016 | 3 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (18.28%) | (35.96%) | Fail | 0 |
| Positive operating cash flow | (929.00k) | (2.06m) | Fail | 0 |
| Rising return on assets | (18.28%) | (35.96%) | Pass | 1 |
| Cash flow above net income | 841.00k | 1.70m | Pass | 1 |
| Falling long-term leverage | 0.01 | 0.01 | Fail | 0 |
| Rising current ratio | 1.49 | 1.57 | Fail | 0 |
| No new shares issued | 2,656,000 | 2,021,500 | Fail | 0 |
| Rising gross margin | 7.65% | 2.89% | Pass | 1 |
| Rising asset turnover | 0.48 | 1.48 | Fail | 0 |
| Piotroski F-score | Weak — most fundamentals deteriorated | 3 | ||
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 |
|---|---|
| KRKR 36Kr Holdings Inc. Sponsored ADR compare | 8 |
| YDKG Yueda Digital Holding compare | 6 |
| BAOS Baosheng Media Group Holdings Limited compare | 5 |
| WIMI WiMi Hologram Cloud Inc. compare | 5 |
| CHR Cheer Holding, Inc. compare | 4 |
| CNET ZW Data Action Technologies Inc. | 3 |
| LKCO Luokung Technology Corp. compare | 3 |
| TDIC Dreamland Limited compare | 2 |
| TULP Bloomia Holdings, 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