Celyad SA
CYAD Healthcare Biotechnology
Celyad SA’s revenue for fiscal 2025 (year ended December 2025) was $23,800.00, down 88.2% from fiscal 2024.
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Celyad SA (CYAD) Piotroski F-score
Celyad SA's Piotroski F-score for fiscal 2025 is 3 out of 9: 3 of nine tests of profitability, leverage and efficiency passed, up from 2 in fiscal 2020.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 3 | 1.00 |
| FY2020 | 2 | 0.00 |
| FY2019 | 2 | (3.00) |
| FY2018 | 5 | 4.00 |
| FY2017 | 1 | (2.00) |
| FY2016 | 3 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 12.04% | (44.44%) | Pass | 1 |
| Positive operating cash flow | (7.81m) | (6.15m) | Fail | 0 |
| Rising return on assets | 12.04% | (44.44%) | Pass | 1 |
| Cash flow above net income | (8.75m) | 155.90k | Fail | 0 |
| Falling long-term leverage | 0.00 | 0.06 | Pass | 1 |
| Rising current ratio | 1.92 | 2.29 | Fail | 0 |
| No new shares issued | 43,677,000 | 41,429,000 | Fail | 0 |
| Rising gross margin | 61.76% | 93.54% | Fail | 0 |
| Rising asset turnover | 0.00 | 0.01 | 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 |
|---|---|
| ABVC ABVC BioPharma, Inc. compare | 6 |
| BYSI BeyondSpring Inc. compare | 5 |
| EVAX Evaxion A/S - Sponsored ADR compare | 5 |
| CYAD Celyad SA | 3 |
| IMMP Prima BioMed Ltd compare | 3 |
| MCRB Seres Therapeutics, Inc. compare | — |
| ESLA Estrella Immunopharma, Inc. compare | — |
| PLRZ Polyrizon Ltd. compare | — |
| CNTX Context Therapeutics 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