Pacific Drilling S.A.
Follow PACD
Pacific Drilling S.A. (PACD) Piotroski F-score
Pacific Drilling S.A.'s Piotroski F-score for fiscal 2019 is 3 out of 9: 3 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2018.
Piotroski F-score, annual
Embed this chart
Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2019 | 3 | 0.00 |
| FY2018 | 3 | 0.00 |
| FY2017 | 3 | (2.00) |
| FY2016 | 5 | — |
How fiscal 2019’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (22.24%) | (53.81%) | Fail | 0 |
| Positive operating cash flow | (67.18m) | (222.65m) | Fail | 0 |
| Rising return on assets | (22.24%) | (53.81%) | Pass | 1 |
| Cash flow above net income | 489.28m | 1.96b | Pass | 1 |
| Falling long-term leverage | 0.43 | 0.26 | Fail | 0 |
| Rising current ratio | 5.18 | 8.86 | Fail | 0 |
| No new shares issued | 75,011,000 | 75,010,000 | Fail | 0 |
| Rising gross margin | 0.71% | 20.96% | Fail | 0 |
| Rising asset turnover | 0.09 | 0.07 | 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.
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