GlobalSCAPE, Inc.
Revenue growth for ten consecutive years.
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GlobalSCAPE, Inc. (GSB) Piotroski F-score
GlobalSCAPE, Inc.'s Piotroski F-score for fiscal 2019 is 7 out of 9: 7 of nine tests of profitability, leverage and efficiency passed, down from 8 in fiscal 2018.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2019 | 7 | (1.00) |
| FY2018 | 8 | 2.00 |
| FY2017 | 6 | 2.00 |
| FY2016 | 4 | — |
How fiscal 2019’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 38.43% | 8.40% | Pass | 1 |
| Positive operating cash flow | 17.34m | 4.90m | Pass | 1 |
| Rising return on assets | 38.43% | 8.40% | Pass | 1 |
| Cash flow above net income | 4.07m | 1.24m | Pass | 1 |
| Falling long-term leverage | 1.24 | 0.00 | Fail | 0 |
| Rising current ratio | 0.67 | 1.12 | Fail | 0 |
| No new shares issued | 17,424,000 | 20,721,000 | Pass | 1 |
| Rising gross margin | 84.81% | 81.88% | Pass | 1 |
| Rising asset turnover | 1.17 | 0.79 | Pass | 1 |
| Piotroski F-score | Strong — most fundamentals improved | 7 | ||
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