Denali Therapeutics Inc.
DNLI Healthcare Biotechnology
In the quarter to June 2026, revenue fell 89.7%, EPS grew 5.56%, free cash flow fell 22.9% and total debt fell 1.76%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
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Denali Therapeutics Inc. (DNLI) Piotroski F-score
Denali Therapeutics Inc.'s Piotroski F-score for fiscal 2023 is 4 out of 9: 4 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2022.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2023 | 4 | 0.00 |
| FY2022 | 4 | 2.00 |
| FY2021 | 2 | (5.00) |
| FY2020 | 7 | — |
How fiscal 2023’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (11.11%) | (22.76%) | Fail | 0 |
| Positive operating cash flow | (357.99m) | (244.72m) | Fail | 0 |
| Rising return on assets | (11.11%) | (22.76%) | Pass | 1 |
| Cash flow above net income | (212.77m) | 81.28m | Fail | 0 |
| Falling long-term leverage | 0.00 | 0.04 | Pass | 1 |
| Rising current ratio | 13.65 | 3.77 | Pass | 1 |
| No new shares issued | 137,371,000 | 125,531,000 | Fail | 0 |
| Rising gross margin | 100.00% | 100.00% | Fail | 0 |
| Rising asset turnover | 0.25 | 0.08 | Pass | 1 |
| Piotroski F-score | Mixed | 4 | ||
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 |
|---|---|
| NRIX Nurix Therapeutics, Inc. compare | 4 |
| IDYA IDEAYA Biosciences, Inc. compare | 4 |
| ZLAB Zai Lab Limited Unsponsored ADR compare | 4 |
| DNLI Denali Therapeutics Inc. | 4 |
| RCUS Arcus Biosciences, Inc. compare | 0 |
| CELC Celcuity, Inc. compare | — |
| XENE Xenon Pharmaceuticals Inc. compare | — |
| DYN Dyne Therapeutics, Inc. compare | — |
| ELVN Enliven 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