Li-Cycle Holdings Corp.
LICYQ Industrials Waste Management
In the quarter to December 2024, revenue grew 9.38%, EPS fell 17.8% and free cash flow grew 68.5%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
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Li-Cycle Holdings Corp. (LICYQ) Piotroski F-score
Li-Cycle Holdings Corp.'s Piotroski F-score for fiscal 2024 is 3 out of 9: 3 of nine tests of profitability, leverage and efficiency passed.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2024 | 3 | — |
How fiscal 2024’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (15.76%) | (15.61%) | Fail | 0 |
| Positive operating cash flow | (106.40m) | (99.80m) | Fail | 0 |
| Rising return on assets | (15.76%) | (15.61%) | Fail | 0 |
| Cash flow above net income | 31.30m | 38.20m | Pass | 1 |
| Falling long-term leverage | 0.42 | 0.33 | Fail | 0 |
| Rising current ratio | 0.58 | 0.95 | Fail | 0 |
| No new shares issued | 23,500,000 | 22,200,000 | Fail | 0 |
| Rising gross margin | (173.57%) | (346.99%) | Pass | 1 |
| Rising asset turnover | 0.03 | 0.02 | Pass | 1 |
| 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 |
|---|---|
| AWX Avalon Holdings Corporation compare | 6 |
| YDDL One and One Green Technologies. Inc compare | 5 |
| AQMS Aqua Metals, Inc. compare | 4 |
| AMBIQ Ambipar Emergency Response compare | 3 |
| GWAV Greenwave Technology Solutions, Inc. compare | 3 |
| LICYQ Li-Cycle Holdings Corp. | 3 |
| QRHC Quest Resource Holding Corporation. compare | 3 |
| LNZA LanzaTech Global, Inc. compare | 3 |
| ENGS Energys Group Limited 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