Charles & Colvard Ltd
CTHRQ Consumer Cyclical Luxury Goods
Charles & Colvard Ltd’s revenue for fiscal 2024 (year ended June 2024) was $22.0 million, down 26.7% from fiscal 2023. In the quarter to March 2025, revenue fell 23.0%, EPS grew 47.3% and free cash flow fell 23.0%, each against the same quarter a year earlier. Dividend growth for three consecutive years.
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Charles & Colvard Ltd (CTHRQ) Piotroski F-score
Charles & Colvard Ltd's Piotroski F-score for fiscal 2024 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed, up from 2 in fiscal 2023.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2024 | 5 | 3.00 |
| FY2023 | 2 | (2.00) |
| FY2022 | 4 | (3.00) |
| FY2021 | 7 | 5.00 |
| FY2020 | 2 | — |
How fiscal 2024’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (31.91%) | (33.12%) | Fail | 0 |
| Positive operating cash flow | (7.37m) | (3.88m) | Fail | 0 |
| Rising return on assets | (31.91%) | (33.12%) | Pass | 1 |
| Cash flow above net income | 7.00m | 15.71m | Pass | 1 |
| Falling long-term leverage | 0.00 | 0.00 | Pass | 1 |
| Rising current ratio | 1.33 | 3.43 | Fail | 0 |
| No new shares issued | 3,034,000 | 3,038,000 | Pass | 1 |
| Rising gross margin | 23.65% | 15.81% | Pass | 1 |
| Rising asset turnover | 0.49 | 0.51 | Fail | 0 |
| Piotroski F-score | Mixed | 5 | ||
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 |
|---|---|
| MOV Movado Group Inc. compare | 9 |
| REAL The RealReal, Inc. compare | 6 |
| ELA Envela Corporation compare | 6 |
| CTHRQ Charles & Colvard Ltd | 5 |
| BRLT Brilliant Earth Group, Inc. compare | 4 |
| LANV Lanvin Group Holdings Limited compare | 4 |
| SORA AsiaStrategy compare | 3 |
| LUXE LuxExperience B.V. - Sponsored ADR compare | 3 |
| JEWL Adamas One Corp. 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