Safe & Green Holdings Corp.
OLOX Industrials Metal Fabrication
Safe & Green Holdings Corp.’s revenue for fiscal 2025 (year ended December 2025) was $3.0 million, down 40.7% from fiscal 2024. In the quarter to June 2026, revenue grew 193.7%, EPS grew 99.0%, free cash flow grew 130.8% and total debt rose 262.2%, each against the same quarter a year earlier.
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Safe & Green Holdings Corp. (OLOX) Piotroski F-score
Safe & Green Holdings Corp.'s Piotroski F-score for fiscal 2025 is 3 out of 9: 3 of nine tests of profitability, leverage and efficiency passed, up from 2 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 3 | 1.00 |
| FY2024 | 2 | 1.00 |
| FY2023 | 1 | (2.00) |
| FY2022 | 3 | 1.00 |
| FY2021 | 2 | (3.00) |
| FY2017 | 5 | 1.00 |
| FY2016 | 4 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (89.39%) | (194.15%) | Fail | 0 |
| Positive operating cash flow | (7.84m) | (9.30m) | Fail | 0 |
| Rising return on assets | (89.39%) | (194.15%) | Pass | 1 |
| Cash flow above net income | 10.98m | 13.30m | Pass | 1 |
| Falling long-term leverage | 0.03 | 0.41 | Pass | 1 |
| Rising current ratio | 0.06 | 0.08 | Fail | 0 |
| No new shares issued | 113,900 | 3,400 | Fail | 0 |
| Rising gross margin | (145.31%) | (4.90%) | Fail | 0 |
| Rising asset turnover | 0.14 | 0.43 | Fail | 0 |
| 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 |
|---|---|
| IIIN Insteel Industries, Inc. compare | 7 |
| TG Tredegar Corporation compare | 6 |
| TPCS Techprecision Corp. compare | 6 |
| TRSG Tungray Technologies Inc. compare | 5 |
| MEC Mayville Engineering Company, Inc. compare | 3 |
| AP Ampco-Pittsburgh Corporation compare | 3 |
| OLOX Safe & Green Holdings Corp. | 3 |
| MTEN Mingteng International Corporation Inc. compare | 2 |
| HIHO Highway Holdings Limited compare | 1 |
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