Novo Integrated Sciences, Inc.
NVOS Healthcare Medical Care Facilities
Novo Integrated Sciences, Inc.’s revenue for fiscal 2024 (year ended August 2024) was $13.3 million, up 5.75% from fiscal 2023. Revenue growth for five consecutive years.
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Novo Integrated Sciences, Inc. (NVOS) Piotroski F-score
Novo Integrated Sciences, Inc.'s Piotroski F-score for fiscal 2024 is 3 out of 9: 3 of nine tests of profitability, leverage and efficiency passed, down from 5 in fiscal 2023.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2024 | 3 | (2.00) |
| FY2023 | 5 | 2.00 |
| FY2022 | 3 | 0.00 |
| FY2021 | 3 | (2.00) |
| FY2020 | 5 | 2.00 |
| FY2019 | 3 | 0.00 |
| FY2018 | 3 | — |
How fiscal 2024’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (47.76%) | (34.58%) | Fail | 0 |
| Positive operating cash flow | (5.07m) | (2.24m) | Fail | 0 |
| Rising return on assets | (47.76%) | (34.58%) | Fail | 0 |
| Cash flow above net income | 11.10m | 10.97m | Pass | 1 |
| Falling long-term leverage | 0.00 | 0.00 | Fail | 0 |
| Rising current ratio | 0.37 | 0.56 | Fail | 0 |
| No new shares issued | 18,032,000 | 10,165,600 | Fail | 0 |
| Rising gross margin | 43.19% | 39.39% | Pass | 1 |
| Rising asset turnover | 0.39 | 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 |
|---|---|
| SYRA Syra Health Corp. compare | 5 |
| RHEP Adcare Health Systems Inc compare | 5 |
| IONM Assure Holdings Corp. compare | 3 |
| MODVQ ModivCare Inc. compare | 3 |
| CANOQ Cano Health, Inc. compare | 3 |
| NVOS Novo Integrated Sciences, Inc. | 3 |
| NIVF NewGenIvf Group Limited compare | — |
| BMGL Basel Medical Group Ltd compare | — |
| BACK IMAC Holdings, Inc. 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