Dover Motorsports, Inc.
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Dover Motorsports, Inc. (DVD) Piotroski F-score
Dover Motorsports, Inc.'s Piotroski F-score for fiscal 2020 is 6 out of 9: 6 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2019.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2020 | 6 | 0.00 |
| FY2019 | 6 | (1.00) |
| FY2018 | 7 | 1.00 |
| FY2017 | 6 | 1.00 |
| FY2016 | 5 | — |
How fiscal 2020’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 8.67% | 6.71% | Pass | 1 |
| Positive operating cash flow | 3.19m | 6.78m | Pass | 1 |
| Rising return on assets | 8.67% | 6.71% | Pass | 1 |
| Cash flow above net income | (4.17m) | 1.36m | Fail | 0 |
| Falling long-term leverage | 0.00 | 0.00 | Pass | 1 |
| Rising current ratio | 3.48 | 2.02 | Pass | 1 |
| No new shares issued | 35,836,000 | 35,946,000 | Pass | 1 |
| Rising gross margin | 34.56% | 36.38% | Fail | 0 |
| Rising asset turnover | 0.45 | 0.57 | Fail | 0 |
| Piotroski F-score | Mixed | 6 | ||
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.
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