Neptune Wellness Solutions Inc.
NEPTF Healthcare Drug Manufacturers Specialty & Generic
Revenue growth for five consecutive years, operating cash flow growth for five.
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Neptune Wellness Solutions Inc. (NEPTF) Piotroski F-score
Neptune Wellness Solutions Inc.'s Piotroski F-score for fiscal 2023 is 3 out of 9: 3 of nine tests of profitability, leverage and efficiency passed, down from 4 in fiscal 2022.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2023 | 3 | (1.00) |
| FY2022 | 4 | 2.00 |
| FY2021 | 2 | 0.00 |
| FY2020 | 2 | (1.00) |
| FY2019 | 3 | (2.00) |
| FY2018 | 5 | — |
How fiscal 2023’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (88.99%) | (51.37%) | Fail | 0 |
| Positive operating cash flow | (28.57m) | (54.35m) | Fail | 0 |
| Rising return on assets | (88.99%) | (51.37%) | Fail | 0 |
| Cash flow above net income | 31.89m | 20.63m | Pass | 1 |
| Falling long-term leverage | 0.23 | 0.08 | Fail | 0 |
| Rising current ratio | 0.57 | 1.23 | Fail | 0 |
| No new shares issued | 295,300 | 120,600 | Fail | 0 |
| Rising gross margin | (4.70%) | (15.44%) | Pass | 1 |
| Rising asset turnover | 0.77 | 0.33 | 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 |
|---|---|
| PTPI Petros Pharmaceuticals, Inc. compare | 4 |
| SBFM Sunshine Biopharma, Inc. compare | 4 |
| IMCC IM Cannabis Corp. compare | 4 |
| NEPTF Neptune Wellness Solutions Inc. | 3 |
| SXTC China SXT Pharmaceuticals, Inc. compare | 3 |
| BTAIQ BioXcel Therapeutics, Inc. compare | 2 |
| AKAN Akanda Corp. compare | 1 |
| LSDIF Lucy Scientific Discovery Inc. compare | — |
| PRFX PainReform Ltd. 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