FTE Networks, Inc.
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FTE Networks, Inc. (FTNW) Piotroski F-score
FTE Networks, Inc.'s Piotroski F-score for fiscal 2019 is 2 out of 9: 2 of nine tests of profitability, leverage and efficiency passed, down from 5 in fiscal 2018.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2019 | 2 | (3.00) |
| FY2018 | 5 | — |
How fiscal 2019’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (7.77%) | (28.03%) | Fail | 0 |
| Positive operating cash flow | (4.30m) | 17.85m | Fail | 0 |
| Rising return on assets | (7.77%) | (28.03%) | Pass | 1 |
| Cash flow above net income | 11.22m | 64.53m | Pass | 1 |
| Falling long-term leverage | 0.32 | 0.18 | Fail | 0 |
| Rising current ratio | 0.04 | 0.83 | Fail | 0 |
| No new shares issued | 18,964,900 | 7,688,800 | Fail | 0 |
| Rising gross margin | (0.29%) | 9.16% | Fail | 0 |
| Rising asset turnover | 0.04 | 0.09 | Fail | 0 |
| Piotroski F-score | Weak — most fundamentals deteriorated | 2 | ||
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